Andy Burnham vows to ‘bring back hope’ as he unveils his cabinet

New prime minister says government must ‘do better’ to deliver change but promises prudent approach to economy

Andy Burnham has said his arrival in power will “bring back hope” to Britain as he launched his premiership with the surprise appointment of John Healey as chancellor and a promise to repair the damage caused to communities during the Thatcher era.

The new UK prime minister acknowledged people were “fed up” with politics as he addressed the country after taking over from Keir Starmer in Downing Street, saying the government needed to “do better” to deliver real change.

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Burnham’s vow to end Labour briefing wars will test his grip on the party

Tensions between his aims are already there, including disputes over key appointments such as chancellor

Andy Burnham’s vision for cleaning up Westminster politics is a utopian one: ending the dominance of the whipping system, Whitehall power hoarding and the “insidious briefing culture” of the bubble.

In his first speech on becoming Labour leader, he warned his party it “won’t beat Britain’s new right if we are consumed by infighting and pulling in different directions”.

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Restoring Britain’s health to 2014 levels could add 2% to GDP, thinktank says

Health Foundation paper argues health is an economic asset and improving it could generate £72bn for public finances

Restoring the deteriorating health of the UK’s population to the level of 2014 would boost GDP by 2% and generate a £72bn dividend for the public finances, research suggests.

A paper by the Health Foundation thinktank, published on Sunday, argues the nation’s health should be valued by policymakers as an economic asset.

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Treasury yet to do due diligence on finding extra money for UK’s Nato spend

How to hit the 3.5% of GDP defence spending promise would be a matter for ‘the next prime minister’, MPs told

The Treasury has as yet carried out no analysis of the trade-offs necessary for the UK to hit the 3.5% of GDP defence spending promise made to Nato, the department’s chief secretary has said.

Under robust questioning in a joint session of the Treasury and defence select committees on Wednesday, Lucy Rigby repeatedly said that how to fund additional defence spending would be a matter for “the next prime minister”.

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Lucy Powell agrees Ed Miliband would be ‘good’ as Andy Burnham’s chancellor

Labour deputy leader says she thinks energy secretary would suit Treasury but ‘tittle-tattle’ over posts ‘unedifying’

Ed Miliband would make a “good” chancellor to Andy Burnham, Labour’s deputy leader, Lucy Powell, has said, before the likely next prime minister’s first major speech on the economy since he returned to Westminster.

Powell, who served as Miliband’s chief of staff in opposition and is close to the former party leader, appeared to endorse him to run the Treasury – although some in Burnham’s camp acknowledge such a move could be politically risky.

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‘Act on the evidence outside the window’: Andy Burnham urged to stick to net zero targets if he becomes PM

Mayor of Manchester is coming under pressure from some to ditch net zero targets but this could be highly damaging on many levels

Britain’s net zero economy is booming. The sector is worth £100bn a year to the UK, has outpaced other sectors, and supports higher-paying jobs than the average.

For a union leader to suggest that the man who has overseen this impressive record – the energy secretary, Ed Milibandwould be a “noose around the neck” of job creation, as Unite’s Sharon Graham has done, might seem extraordinary.

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Reform UK plan to target EU nationals based in Britain ‘absolutely outrageous’

Exclusive: Rights group says Nigel Farage’s party is reneging on promises made during the Brexit referendum campaign

EU nationals based permanently in the UK have expressed alarm over a Reform UK plan to target their rights to accommodation and employment, saying the policy is a betrayal of promises made in the Brexit referendum 10 years ago.

Under updated migration policies, Nigel Farage’s party would evict all overseas nationals from social housing and make it notably more expensive for companies to employ them, with both policies also affecting EU nationals who have settled status.

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Darren Jones says bond markets should be ‘content’ with Burnham’s economic plans – UK politics live

Chief secretary to PM rules out leadership bid as he says he has received reassurances from Burnham

London, Oldham, Bradford and Keighley are to be the first towns and cities investigated by the grooming gangs inquiry, the Press Association reports. PA says:

The £65m probe is investigating how grooming gangs operated and how police, councils, health services, social care services and schools responded.

The announcement confirmed which areas will first face so-called local investigations – where serious failures have been identified in response to child sexual exploitation by grooming gangs.

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Burnham brings in top economists before possible leadership run

Labour mayor giving advisory roles to ex-Bank of England economist and others seen as attempt to reassure markets

Three economic heavyweights have been brought in to advise Andy Burnham as he attempts to reassure the markets before his possible return to parliament on Friday and challenge to Keir Starmer.

Burnham is understood to be getting advice from Andy Haldane, a former Bank of England chief economist, as well as Richard Hughes, a former chair of the Office for Budget Responsibility and Jim O’Neill, a crossbench peer and former Treasury minister who worked on George Osborne’s “Northern Powerhouse”.

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Cut UK speed limits to reduce Iran war impact on consumers, thinktank urges

Cap of 20mph in towns and cities and 60mph on motorways would cut fuel demand and combat rising prices, IPPR says

Britain should lower speed limits for drivers as part of a package of measures to reduce the impact of the Iran war on consumers, a thinktank has said.

Capping legal speeds at 20mph in towns and cities and 60mph on motorways would help reduce fuel demand and combat soaring oil prices triggered by conflict, according to the Institute for Public Policy Research (IPPR).

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Next Scottish government faces ‘really difficult’ spending choices, economists say

Parties accused of ‘fiscal denial’ and failing to tell voters the scale of the challenge

The next Scottish government will need to make “really difficult” spending decisions soon after taking power, including tackling its large public sector pay bill, senior economists have said.

Economists with the Fraser of Allander Institute, at the University of Strathclyde, believe the manifestos published by Scotland’s political parties during the campaign failed to tell voters about the true scale of the challenge.

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Balancing UK’s welfare and defence spending ‘not zero-sum game’, minister says

Treasury minister James Murray hits back at George Robertson’s criticism over military budget

A Treasury minister has said balancing welfare and defence spending “is not a zero-sum game”, amid stark warnings that the UK will have to increase its military budget to ensure national security during global volatility.

James Murray, the chancellor’s deputy, said the government was pushing ahead with the biggest sustained increase in defence investments since the cold war, but he would not say when it would publish its delayed defence investment plan.

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Collapse of US-Iran talks heightens fears of prolonged energy shock

Oil prices and borrowing costs are expected to rise this week as tankers remain stranded in the Gulf

The failure of the US and Iran to reach a peace deal after marathon negotiations has put markets on alert for further oil and gas price rises.

With large numbers of oil tankers remaining stuck in the Gulf, the US vice-president, JD Vance, blamed the collapse of the talks on Tehran’s refusal to abandon its nuclear weapons programme, while Iranian sources hit back at “excessive” demands from Washington.

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‘You can feel it’: South Yorkshire revival gathers pace as new industries move in

From steel to screen, podcasts to defence, Sheffield’s economy is diversifying amid a wave of new investment

It has seen its fair share of Hollywood parties – albeit with a twist. Instead of champagne and caviar it is usually Guinness and scampi fries. Red carpet? There aren’t even cushions on the seats.

The tiny Sheffield pub, Fagan’s, has raised more than a few toasts in the last year as Adolescence, the Netflix hit made by two of its owners, scooped multiple awards at the Emmys and Golden Globes and became one of the world’s most-watched dramas.

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Keir Starmer faces Kemi Badenoch at prime minister’s questions – UK politics live

PM to face opposition leader and MPs in the House of Commons

Polanski says the government should be doing more to improve home insulation, and on the drive towards renewable energy.

And he says the government should commit to ensuring energy bills do not rise above the April-June price cap.

The government should guarantee right now that it will not allow energy bills to rise beyond the April-June price cap – instead setting aside approximately £8.4bn to prevent a rise of up to £300 per household that could be coming down the track.

No, it’s not cheap. But the alternative is unacceptable: if the price cap rises, we will see interest rate rises. Mortgage rates up. Bond yields up. And inflation up – and we will be back into the doom loop that has done untold damage to our economy and caused misery for households across the UK for years now.

There are ways to pay. Instead of scrapping the windfall tax on energy companies, as this government is planning to do, we should be strengthening it instead. We need a real, loophole-free windfall tax with no exemptions for reinvesting in fossil fuels. A robust tax that claws back every single pound of reckless profiteering from this crisis and repurposes it immediately to protect every home in the country. And while taxing extreme wealth in the ways we need to will take time to implement, there are levers the government could pull right now – like equalising capital gains tax with income tax and reforming the base, to raise £12bn.

It’s time for the government to act decisively, eliminate the uncertainty that is plaguing people and the markets and insulate us from some of the worst economic effects of Trump’s war.

This was not a war of self-defence, there was no imminent threat. Negotiations were ongoing. It was, as the BBC’s international editor said, a war of choice.

People across the Middle East are terrified of what Trump and Netanyanhu’s war will mean for them and their loved ones. And the repercussions are echoing across the world as instability spreads and oil prices spike.

People are already struggling so hard just to make ends meet. People feel like they’re running every day just to stay in the same place. The idea that yet again – for the second time in just a few years – that we are going to have to deal with another enormous spike in the cost of the basics is unacceptable.

It’s unacceptable because we didn’t need to be here. It’s unforgivable that just four years after we last saw an energy price shock, that one triggered by Putin’s illegal invasion of Ukraine, far too little has been done to protect this country, its people, and its economy – from the impact of yet another energy price shock.

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Most senior council officers in England say building work hit by delays

Funding uncertainty is main concern, despite Labour’s pledge to revitalise construction, survey shows

Almost two-thirds of senior council officers have said they are seeing construction projects delayed, despite the key role of local authorities in creating the wave of new housing and infrastructure promised by Labour.

Before Rachel Reeves’s spring forecast on Tuesday, a survey of senior council officers showed that 40% do not think the local authority they work for is well placed to follow through on its construction plans.

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OBR a backseat driver with out-of-date maps, thinktanks tell Rachel Reeves

Chancellor urged to reform Office for Budget Responsibility to open way to more public investment

Rachel Reeves must reform the Office for Budget Responsibility (OBR) to open the way to more public investment, an alliance of thinktanks has argued ahead of the chancellor’s spring forecast on Tuesday.

With Keir Starmer’s government under intense pressure after Labour’s defeat by the Greens in Thursday’s Gorton and Denton byelection, the thinktanks called on Reeves to review the watchdog’s remit.

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Martin Lewis ambushes Badenoch on Good Morning Britain over student loans plan

Finance campaigner marches on to set and tells Tory leader her policy to cut interest rates will only help top earners

Kemi Badenoch has faced what could be described as the stuff of nightmares for a UK politician being interviewed about a personal finance policy: being ambushed and contradicted live on air by Martin Lewis.

As the Conservative leader was being interviewed on ITV about her party’s plans to cut interest rates for some student loans, Lewis, a campaigner and finance expert, marched on to the set to announce that he completely disagreed.

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Trump raises tariffs to 15% on imports from all countries

President announced increase from 10% using different authority from mechanism that supreme court struck down on Friday

Donald Trump announced on Saturday that he would raise a temporary tariff rate on US imports from all countries from 10% to 15%, less than 24 hours after the US supreme court ruled against the legality of his flagship trade policy.

Infuriated by the high court’s ruling on Friday that he had exceeded his authority and should have got congressional approval for the tariffs he introduced last year under the International Emergency Economic Powers Act (IEEPA), the US president railed against the justices who struck down his use of tariffs – calling them a “disgrace to the nation” – and ordered an immediate 10% tariff on all imports, in addition to any existing levies, under a separate law.

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Don’t be fooled by recent good news, the UK economy is still in a precarious state

Labour MPs may clamour for bolder spending, but – like their Tory and Reform counterparts – they ask for the unaffordable

Too many Labour MPs want it all, and no amount of pleading from the top of government about the depleted public finances seems to make a difference.

The mainly leftist MPs want all the wrongs of the last 15 years put right and quickly. Their next opportunity to demand more cash arrives when Rachel Reeves delivers her spring statement on 3 March.

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