Burnham Promises Fiscal Stability but Does Not Rule Out More Borrowing

According to Jin10, U.K. Prime Minister Andy Burnham promised that his government will ensure fiscal stability but did not rule out further borrowing. He also tried to blame Britain’s elevated government debt on the previous Conservative government. Burnham said during his first prime minister’s questions session since taking office, "This is a government based on fiscal responsibility. We will abide by the fiscal rules." In response to Conservative opposition leader Kemi Badenoch’s question about rising U.K. government bond yields and higher financing costs, he said, "Global market turbulence is caused by the risk exposure they left behind. During her time in government, the debt-to-GDP ratio kept rising."