Funding the Future Andy Burnham vs the bond markets: who really runs Britain?
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Sep 27, 2025 Andy Burnham challenges the dominance of bond markets in UK politics, questioning who truly holds power—the elected government or unelected financiers. He proposes ambitious policies like a major council house build and nationalising utilities. While the City reacts with panic, discussions revolve around the actual costs and the legitimacy of fears surrounding borrowing. Advocating for democracy over market control, the conversation explores the balance between public interest and financial power in shaping the nation's future.
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Bond Markets Shouldn’t Veto Democracy
- Richard Murphy argues Andy Burnham challenges the idea that bond markets should veto democratic choices.
- Burnham's proposals aim to prioritise public needs over City influence without reckless borrowing.
Burnham’s Political Journey
- Murphy recounts Andy Burnham’s political history from Gordon Brown minister to successful Manchester mayor.
- This background explains why Burnham’s voice now carries weight in Labour debates.
Housing And Utilities As Asset Investment
- Burnham proposes council house building and utility nationalisation as mainstream social-democratic moves.
- Murphy stresses these are investments that create public assets and reduce long-term costs.