How will investors be affected by our new Prime Minister, Andy Burnham, the former Mayor of Manchester? What opportunities and challenges will he create for shareholders?Probably Burnham’s most controversial financial statement to date was when he said Britain “needs to get beyond this thing of being in hock to the bond markets”. But he subsequently emphasised: “I have never said you can just ignore the bond markets” and described himself as “completely committed” to fiscal rules.

In his high profile speech at the People’s History Museum, Manchester, last month, he pledged “to fix the economy” and to “rewire Britain”. Burnham has also reiterated Labour’s promise before the last General Election not to raise income tax, National Insurance contributions (NICs) or Value Added Tax (VAT).