Jim O'Neill, co-president of the Northern Powerhouse Partnership and a former Treasury minister, called on the Government to be 'bolder about borrowing to invest'.

Labour mayor giving advisory roles to ex-Bank of England economist and others seen as attempt to reassure markets

Burnham has reportedly sought advice from several top economists including Richard Hughes, the former OBR head.

Jim O'Neill, co-president of the Northern Powerhouse Partnership and a former Treasury minister, called on the Government to be 'bolder about borrowing to invest'.