A High-Stakes Debut: Burnham's First PMQs
On Wednesday, September 2, 2026, the United Kingdom's Prime Minister, Andy Burnham, faced off against Conservative opposition leader Kemi Badenoch in his first session of Prime Minister's Questions (PMQs). The atmosphere was tense: financial markets were watching closely, and the British economy showed signs of strain.
The context could not be more challenging. The UK's borrowing costs had risen in the days prior, with 10-year bond yields climbing 4 basis points, reaching their highest level since June 2008. This increase was largely attributed to a rise in oil prices, though some economists also linked it to Burnham's recent statement about public control of utilities.
“The Conservative legacy has left our economy vulnerable,” Burnham said, rejecting comparisons with Liz Truss's government.
Burnham's Defense: Blaming the Tories and Promising Discipline
In his remarks, Burnham was blunt: “The Conservative legacy has left our economy vulnerable.” The Prime Minister dismissed comparisons with Liz Truss, whose 2022 mini-budget caused market turmoil. Instead, he highlighted his government's early actions, such as “cutting taxes” by reducing VAT on energy bills, and insisted his spending commitments were fully funded.
However, Burnham did not rule out tax increases in the upcoming autumn budget, sparking speculation. Chancellor John Healey has already set an early date for the budget, aiming to reduce market uncertainty.
Badenoch's Criticism: “Pleasing Everyone” Is Not Leadership
Conservative leader Kemi Badenoch seized the opportunity to attack. She accused Burnham of “pleasing everyone” rather than leading, and pointed out that the cost of borrowing is higher than under Liz Truss. She also criticized the PM for not rejecting any spending requests, which she said reflects a lack of fiscal responsibility.
Badenoch also announced a reshuffle of her shadow cabinet: she sacked Mel Stride, the former shadow chancellor, and replaced him with Andrew Griffith, a former Treasury minister under Truss. This move aims to harden the opposition's economic stance.
Market Pressure and Jim O'Neill's Warning
One of the tensest moments came with an intervention from Jim O'Neill, a Burnham ally and former Treasury minister. O'Neill warned that Burnham's statement on public control of utilities was “the last thing investors want to hear”, and noted that traders are asking “who will be realistic about debt and spending.”
This warning reflects the UK's delicate economic situation, which faces a combination of high inflation, growing debt, and external pressures from rising oil prices. Despite this, Burnham defended his record, citing the fastest growth in the G7 and a reduction in the deficit as achievements of his government.
Defense and Military Spending: A Commitment in Question
Another hot topic was defense spending. Burnham was pressed on his commitment to reach 3% of GDP by 2030. In his response, he seemed to imply it would happen, but he has only formally pledged 3.5% by 2035, leading to confusion over dates and actual targets.
The opposition seized on this to question the coherence of his promises, while analysts note that defense spending will be a key issue in upcoming budgets, especially amid geopolitical tensions.
An Uncertain but Hopeful Future
Despite the criticism and market pressure, Burnham appeared confident that his government can overcome the challenges. “We will maintain fiscal discipline,” he assured, emphasizing that his priority is “reducing the burden on citizens” while investing in public services.
Burnham's first PMQs made it clear that the road ahead will not be easy, but it also showed a leader willing to defend his policies. With an autumn budget on the horizon and a renewed opposition, the coming months will be crucial in defining the UK's economic direction.
Source: The Guardian