Andy Burnham, poised to become Britain’s prime minister, aims to transform the country’s economy, inspired by his tenure as Manchester’s mayor. Conversations with economists and his advisors offer insights into his plans.

Revitalizing the Nation’s Economy

Burnham inherits a legacy of unmet economic promises from recent prime ministers. His strategy is summarized by the pledge: “Good growth in every British postcode.” He advocates for decentralizing power, enabling local officials to steer economic decisions independently. He deems this as potentially “the biggest change in our lifetimes to the way the country is run.”

Emerging Economic Priorities

Although Burnham has yet to detail his full economic agenda, his speeches and advisor suggestions hint at key priorities. Interviews with five economists and strategists illustrate these emerging concepts, though they preferred anonymity to discuss non-finalized policies. A major component includes devolution, complemented by plans for increased public control over utilities and services. Additionally, he intends to address the high cost of living urgently.

Tackling Entrenched Challenges

Burnham faces persistent challenges similar to those who came before him: substantial public debt, enduring high inflation, and sluggish productivity growth. These are exacerbated by Brexit’s impact and insufficient historical public investment. Consumer confidence remains low, leading many to prioritize saving over spending.