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

Chancellor Rachel Reeves' main hope for survival has been the fear that moving her on from the Treasury would cause ructions on the nervy gilts market.

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

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.