Labour leadership frontrunner Andy Burnham has ruled out altering Chancellor Rachel Reeves’ fiscal rules or exempting defence 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 defence spending but later reaffirmed support for existing rules. Analysts note the decision may reassure markets but limit fiscal fl

Labour leadership frontrunner Andy Burnham has ruled out altering Chancellor Rachel Reeves’ fiscal rules or exempting defence 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 defence spending but later reaffirmed support for existing rules. Analysts note the decision may reassure markets but limit fiscal flexibility.