Tax promises, defence targets and Iran: Andy Burnham’s budget headaches

As economic circumstances worsen, the PM’s commitments have left him and the chancellor in a tight spot When Andy Burnham made his first speech after returning as an MP, he promised that as prime minister he would oversee “the most significant change moment in our politics for 40 years”. His style, direction and communication has been a big shift from Keir Starmer’s approach, but as he heads into the autumn, the new prime minister faces some very similar problems. With an early budget in late October, and worsening economic circumstances, Burnham has made promises and commitments that put him in a tight spot. Here are some of the constraints over the coming months that Burnham and the chancellor, John Healey, must contend with in their autumn budget. The biggest risk of Burnham as prime minister was always whether he would spook the bond markets and set in train a Liz Truss-style meltdown. Starmer’s allies often played up this fear but there is no doubt that Burnham had to ensure that markets knew he was a serious operator. Gilt yields rose after an interview last year in which he said the government was “in hock to the bond markets”. So, Burnham has committed to Rach