U.K. Prime Minister Andy Burnham’s announcements during his first 24 hours on the job underscore the political and financial challenges he faces as he tries to jump-start the country’s sluggish economy.
Burnham, from Britain’s left-leaning Labour Party, faces restive voters seeking relief from the high cost of living. At the same time, the investors who help finance the government by buying its bonds are demanding that he reduce public sector debt that has ballooned to levels last seen in the 1960s.
