"But investors know it’s the bond market that will call the shots in the $4.2 trillion economy no matter who sits in the prime minister’s office."

Burnham inherits high public debt, elevated borrowing costs and weak growth, while demands on the state continue to rise from defence, net-zero and an ageing population. At the…

The new PM can’t afford to be any more daring when it comes to the economy as financial mistakes could be costly, warn experts

The United Kingdom's new Prime Minister Andy Burnham delivers a speech outside 10 Downing Street in London after taking office on Monday. [Isabel Infantes / REUTERS]