Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Stocks recover from sell-off, but even bulls warn of more volatility

    June 10, 2026

    Oil price: U.S. completes Iran strikes after Apache helicopter attack

    June 10, 2026

    Meta ties up with Ambani’s Reliance for AI data center in India

    June 10, 2026
    Facebook X (Twitter) Instagram
    Addison Markets
    • Home
    • USA
    • Europe
    • Business
    • Investing
    • Tech
    • Politics
    • Contact Us
    Addison Markets
    Home»Europe»Manchester’s Andy Burnham scrutinized as he eyes PM Keir Starmer
    Europe

    Manchester’s Andy Burnham scrutinized as he eyes PM Keir Starmer

    franperez66q@protonmail.comBy franperez66q@protonmail.comMay 20, 2026No Comments4 Mins Read
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Telegram Email


    Mayor of Greater Manchester Andy Burnham.

    Leon Neal | Getty Images News | Getty Images

    This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe here.

    The dispatch

    My one interview with Andy Burnham should have been during a live outside broadcast at Alliance Manchester Business School.

    The Greater Manchester mayor arrived at noon, 90 minutes before the on-air time, which had been agreed well in advance with his PR advisers. They insisted he could not stay for the live broadcast.

    After we had recorded a face-saving interview, which went unscreened, Burnham and his gaggle of advisers scurried off and I asked another interviewee if she was surprised by the mayor’s sloppy time-keeping.

    “Oh no,” she replied. “Up here, we call him the Late Andy Burnham.”

    Those memories returned when, last week, Burnham declared himself a candidate for the forthcoming Makerfield by-election — a contest that, should he win, is likely to be followed by a successful leadership challenge to Prime Minister Keir Starmer.

    Burnham, who has twice failed to be elected leader of the governing Labour Party, is appreciably to the left of Starmer. Reminders of his injudicious remarks about government borrowing in September last year, when he told the New Statesman, “we’ve got to get beyond this thing of being in hock to the bond market,” last week sparked a sell-off in U.K. government bonds.

    His pitch to become Britain’s next prime minister will center on his performance since becoming mayor in 2017.

    According to a report published in January by the Greater Manchester Combined Authority, the region’s economy — as measured by Gross Value Added — grew more quickly than that of Britain as a whole in seven of the nine years to 2023, averaging 3.1% growth compared with 1.5% for the country.

    Burnham calls his style of economic management “Manchesterism.”

    This is not the energetic capitalism that made Manchester wealthy in the 19th century, under the great free traders Richard Cobden and John Bright, but an ambiguous mixture of policies including greater devolution, higher public spending, a more interventionist government and state ownership of services like energy, transport and water.

    Where the money would come from to nationalize such assets (United Utilities, the water supplier to Manchester and the wider north west of England, alone has a stock market valuation of £9.5 billion, or around $12.7 billion) remains unexplained.

    Building on past success?

    Burnham’s template is the Bee Network, a publicly owned travel system with standardized fares, integrating trains, buses, trams and cycle routes.

    Yet the most recognisable element, Manchester’s lauded Metrolink tram system, was actually signed off as long ago as 1989 when Margaret Thatcher, the Conservative prime minister Burnham most likes to repudiate, was in office. He can only claim so much credit for its success.

    The same, critics say, applies to Manchester’s broader economic achievements, the main architects of which were Richard Leese, Labour leader of Manchester City Council from 1996 to 2021 and the late Howard Bernstein, chief executive of the council from 1998 to 2017. They championed development across the city, including the construction of numerous high-rise towers, landmark buildings like the Manchester Arena and the City of Manchester Stadium (now home to Manchester City FC) and developments such as the Spinningfields business district.

    This visionary pair worked tirelessly with talented developers like Tom Bloxham and Carol Ainscow, respectively founders of Urban Splash and Artisan, to regenerate the city centre and bring back residents, particularly after 1996, when an Irish Republican Army (IRA) bomb destroyed the Arndale shopping centre. They were also happy to work with George Osborne, a Conservative chancellor (finance minister) and MP in the north west, who shared their aims.

    To Burnham’s credit, he has built on the duo’s success.

    However, as British voters learned during former Greater London Mayor Boris Johnson’s premiership from 2019 to 2022, successful regional mayors do not necessarily translate to successful prime ministers.

    — Ian King

    Need to know

    Bank of England does not need to hike interest rates, says IMF — it may even need to cut. The International Monetary Fund upgraded the U.K.’s growth forecast for 2026 and suggested that the central bank should be ready to cut interest rates, if necessary.

    Why a small UK lender has major U.S. credit firms on edge. The failure of U.K. specialist lender Market Financial Solutions has left banks and investment firms on both sides of the Atlantic facing potentially hundreds of millions in losses.

    Britain’s prospective next PM tries to placate bond markets after sell-off. Bond markets are trying to gauge whether the U.K.’s would-be prime minister, Andy Burnham, could rip up the fiscal rule book.

    — Holly Ellyatt

    Coming Up

    MAY 20: UK inflation rate for April

    MAY 21: UK PMI data for May

    MAY 22: UK retail sales for April

    Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    franperez66q@protonmail.com
    • Website

    Related Posts

    EU considers suspending rise in Russian oil price cap

    June 9, 2026

    Vinted boss sees big shift in consumer behaviour as second hand booms

    June 9, 2026

    Orlando Bravo says AI is boosting software companies

    June 9, 2026

    Christopher Bailey acquires Burleigh pottery

    June 9, 2026

    AI offers European drug gangs a tech boost

    June 9, 2026

    London mansion with mystery owner close to £190mn sale

    June 8, 2026
    Leave A Reply Cancel Reply

    Top Reviews
    Editors Picks

    Stocks recover from sell-off, but even bulls warn of more volatility

    June 10, 2026

    Oil price: U.S. completes Iran strikes after Apache helicopter attack

    June 10, 2026

    Meta ties up with Ambani’s Reliance for AI data center in India

    June 10, 2026

    Locked in heated rivalry with researcher, Microsoft fixes 0-day they disclosed

    June 10, 2026
    © 2026 All right reserved
    • Privacy Policy
    • Terms & Conditions

    Type above and press Enter to search. Press Esc to cancel.