European business, markets and politics
In his maiden Commons speech, the new PM says the government will drive growth through a partnership of academia, industry and the state.

Andy Burnham used his first address to the House of Commons as prime minister to unveil a state‑centric economic blueprint. He said the UK’s future prosperity will hinge on a “triple helix” model that brings universities, businesses and the government together under the direct authority of central government.
The concept, first articulated in the 1990s by Henry Etzkowitz and Loet Leydesdorf, envisions a three‑way partnership where research, commercial activity and policy align. Burnham argued that devolution offers a clear answer to the long‑standing question of who should drive growth, but only a fully empowered central engine can coordinate the effort.
My theory of growth requires it to be driven with the full authority of the very centre of government, in close partnership with His Majesty’s Treasury.
He added that a new unit dubbed “Number 10 North” will focus on delivering this agenda, aiming to create a pro‑business culture and an innovation‑led economy across all regions.
Opposition leader Kemi Badenoch seized on the speech to question the plan’s fiscal implications, asking whether the government would rule out further tax rises. Burnham sidestepped the query, pointing to recent cuts, a 20 percent reduction in business rates for pubs and music venues and the removal of VAT on household energy bills.
Retail giants such as Tesco and M&S have already urged Burnham and Chancellor John Healey to avoid new levies on businesses. Badenoch accused the prime minister of living in the past, invoking Margaret Thatcher as a foil for her own forward‑looking agenda.
Burnham’s speech also touched on public control of services, criticising the privatisation of water as a “leaking monument”. He pledged a “place‑first, not party‑first” approach, promising to eradicate rough sleeping and illegal waste sites while fostering optimism for the next decade.
Parliament will now scrutinise the details of the triple helix framework, with the Treasury expected to draft legislation that formalises the role of Number 10 North. Analysts predict that the plan’s success will hinge on how quickly the government can align funding, regulatory reforms and university‑industry collaborations.
In the broader context, the proposal signals a shift towards a more interventionist state, a move that could reshape the UK’s competitive position and influence future debates on devolution and fiscal policy.