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

Andy Burnham appears to have ditched a planned call with hedge fund managers, billed as an opportunity to cool concerns about his economic approach.

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

The Greater Manchester mayor has previously heavily hinted but ducked out of confirming he would stand against Sir Keir Starmer if he wins a Westminster seat on June 18.

Andy Burnham says he doesn't want to get "ahead of himself", and must first win a by-election later this month.

Manchester mayor targets June 18 parliamentary by-election before launching his bid for No 10.

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

Burnham argued that 'the public here are saying quite loudly to all of us, we need something different here'.

Manchester mayor still to confirm if he would trigger a contest

Andy Burnham has hinted at how he would handle tax policy