Labor leadership frontrunner Andy Burnham has ruled out altering Chancellor
Rachel Reeves’ fiscal rules or exempting defense spending if he becomes UK Prime
Minister, a spokesperson said. The clarification follows market concerns over
his potential premiership, with traders fearing higher public spending and gilt
issuance. Burnham had previously floated exempting defense spending but later
reaffirmed support for existing rules. Analysts note the decision may reassure
markets but limit fiscal flexibility.
