As it happened: John Healey named Chancellor as Burnham shakes-up cabinet
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Andy Burnham has become the UK’s newest Prime Minister, succeeding Sir Keir Starmer just two years after his landslide win at the 2024 general election.
Starmer visited the King this morning to give him his resignation. In his farewell speech outside Number 10, the outgoing Prime Minister said he is leaving with “good grace”.
“I am confident that Britain is now stronger and fairer than it was two years ago. Our economy is stronger. Our public services are on the up,” he said.
Andy Burnham was confirmed as Prime Minister by King Charles before travelling to Downing Street, where he told the nation that he will build a “new economy”.
“We will make this moment a circuit breaker for Britain, bringing forward the biggest changes in the last 40 years, a new political model and a new economic model,” he said.
Burnham said he will set out cost of living support tomorrow but stopped short of announcing policy interventions that had been expected, including the nationalisation of Thames Water and new drilling in the North Sea.
The new prime minister confounded expectations by appointing former defence secretary John Healey as chancellor. Shabana Mahmood had been widely tipped for the job but will retain her role as home secretary.
Jump straight to:
- 12:51pm: Burnham pledges ‘circuit breaker for Britain’
- 11:57am: Burnham will be judged by bond markets
- 10:42am: City investors wait for clues on Burnham’s spending plans
- 09:47am: Burnham to set out 10-year plan