By GB News (Politics) | Created at 2026-09-02 06:41:30 | Updated at 2026-09-03 04:54:17
22 hours ago
Andy Burnham has been dealt a major blow as he faces a £14billion shortfall ahead of his first autumn Budget.
A surge in gilt yields will squeeze his plans for higher spending, with Britain’s borrowing costs rising at one of the fastest paces across the globe.
Interest rates on 10-year gilts have reached their highest level since 2008.
The cost to borrow over 20 years rose to its highest level since 1998, a clear indicator of rising stress in the market.
With the markets growing increasingly stressed, Mr Burnham will face off with Kemi Badenoch in his first PMQs today.
The Prime Minister faced scrutiny for the first time in the chamber yesterday, in which he blamed Brexit and Margaret Thatcher for Britain's "low growth and stalled regeneration”.
Mr Burnham said while he will continue what his predecessor, Sir Keir Starmer, had started, he "will not hesitate to make changes".
The Prime Minister added: "None of this is easy, but I did what I always do, and that is to apply my values to a challenging situation and a care for people, which I spoke about in Downing Street.
"I believe the public will support me in recognising the clear difference between those who have served their time and more, and those who have not.
"We will bring forward legislation soon, but we can find a solution to end this injustice, which balances public safety and basic fairness, and I urge colleagues on all sides of the House to help us do that."
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Kemi Badenoch looks for 'bounce' after reshuffle as Tories and Reform battle for local by-elections gains
Kemi Badenoch is looking for a "bounce" in regions across Britain after reshuffling her shadow cabinet.
The Conservative leader sacked Sir Mel Stride as shadow chancellor and appointed former business secretary Andrew Griffith in his place.
Claire Coutinho, previously the shadow energy secretary, will replace Mr Griffith as shadow business secretary, while Sir Mel will join Tory big beasts Dame Priti Patel and Sir James Cleverly on the backbenches amid the ongoing shake-up.
Six council wards are up for grabs across England, Scotland and Wales.
Shabana Mahmood hands Cleveland Police £2million to help tackle Middlesbrough crimewave
Shabana Mahmood has handed Cleveland Police an extra £2million to tackle serious crime following a wave of incidents in and around Middlesbrough.
The cash injection comes after around 200 officers from outside Cleveland were drafted in to support the force's crackdown on organised crime following the deadly A66 crash last month.
PC Matthew Blades, 37, and PC Tom Clough, 38, were killed when a Volkswagen Passat being pursued by police was driven the wrong way along the dual carriageway and struck their marked armed response vehicle on August 22.
Five young men travelling in the Passat were also killed, with Cleveland Police saying they may have had links to "serious and organised criminal activity".
The Home Secretary told MPs: "I can also announce today that, in light of the situation the force has faced, we will allocate an additional £2million to Cleveland Police to tackle serious crime in the area."
Ms Mahmood paid tribute to PC Blades as a "devoted father" and PC Clough as a "hero" to his family.
