Burnham must be upfront about tax or risk spooking the bond markets | Heather Stewart

Victory in Makerfield is propelling him towards No 10 but investors expect to know how he will fund his promises Burnham allies confident of ‘coronation’ Andy Burnham’s thumping victory in the Makerfield byelection came and went without the bond market rout that Rachel Reeves’s backers had warned about. But as he moves towards the premiership, Burnham would be wise to set clear expectations about tax and spend, and to be upfront about the fact that not everyone can be a winner. The yield, or interest rate, on UK government bonds did move up on Friday, but only modestly. That relative calm was

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