Burnham rejects 'tax and spend socialist' comments

Image source, PA Media By Paul Seddon Political reporter Published 25 minutes ago Andy Burnham has insisted he is prepared to take "difficult decisions" on the economy, after a former Bank of England chief economist said investors were worried about his willingness to cut spending.

Speaking on Tuesday, Andy Haldane, who has advised Burnham on the economy, claimed financial markets had grown wary of his economic plans and now considered his premiership a "traditional tax and spend socialist government".

But the PM rejected this, adding that he would not take risks with the economy and had already made difficult choices since taking office.

It comes as recent rises to the cost of UK borrowing worsened the political options facing the government ahead of next month's Budget.