With the new PM hoping Lord Jim O'Neill confirmed that he would not step in to help Labour tackle the UK's larger than expected July deficit of £1.8billion announced yesterday.

Former Goldman Sachs executive and Tory Treasury minister Lord Jim O’Neil has declined a job in Andy Burnham’s government.

With the new PM hoping Lord Jim O'Neill confirmed that he would not step in to help Labour tackle the UK's larger than expected July deficit of £1.8billion announced yesterday.