One analyst said markets would reprice U.K. fiscal risk "accordingly and quickly" if Burnham's political ambitions come to light.

The Greater Manchester Mayor's team today said he would not go to the country if he wins the Makerfield by-election and goes on to become prime minister.

The Greater Manchester mayor is currently standing as Labour's candidate in the Makerfield by-election in an attempt to return to Westminster.

One analyst said markets would reprice U.K. fiscal risk "accordingly and quickly" if Burnham's political ambitions come to light.

The Greater Manchester mayor appears set to challenge for the Labour leadership

Plummeting poll ratings turned MPs against Starmer - and could do the same to him

Exclusive: Greater Manchester mayor sets out his priorities before Makerfield byelection – and what might happen after the vote

No 10 has said the Prime Minister will visit the constituency in a bid to show his support for the Labour candidate.

At the time Burnham proposed this extra £40 billion of borrowing, the government was running a deficit of nearly £140 billion a year.

The Greater Manchester mayor has opened up a 10-point lead with voters in the seat two weeks out from the potentially seismic vote that could ultimately result in Sir Keir being…

Andy Burnham has hinted at how he would handle tax policy

'The last thing Andy will want to do is spook the markets', says one MP

Burnham has announced that if he becomes prime minister, he will cut business rates for pubs and music venues by 20 per cent in 2027-28.