Andy Burnham is preparing to unveil package of cost-of-living measures within his first fortnight as Prime Minister.
Allies say Burnham, wants his opening days defined by a handful of high-impact, positive announcements, with interventions on energy bills and public transport costs among the ideas being examined.
His team has not ruled out an emergency Budget, acknowledging that many of the measures they want to introduce will come with significant costs.
Burnham, almost certain to be Prime Minister by the end of the month, has previously pledged to reduce household costs by cutting energy bills, which his allies suggest could include reforming how green levies are funded, and lowering transport costs through cheaper fares and expanded affordable public transport schemes.
Student loan salary threshold could be increased
Plans to increase the salary threshold for students with Plan 2 loans is also being explored. These loans, taken out by students who began undergraduate courses in England between 2012 and 2023, have left some graduates with balances that have grown beyond the amount originally borrowed, as interest has accrued faster than repayments have reduced the debt.
One insider close to the preparations said the emerging package “gets key costs down,” though final decisions on what to include and timing have yet to be made.
A senior Burnham ally said that hundreds of policy ideas had been submitted for consideration, but that it was likely only one or two would be announced in the first instance.
The source insisted that fiscal responsibility will be at the forefront of any policy decisions made and said that any costly announcements will have to wait to the budget. However, holding an emergency budget has not been ruled out. “It’s a genuinely open question,” the source added.
The Office of Budget Responsibility (OBR) needs around 10 weeks to prepare its forecasts for a budget from the point at which a Chancellor formally commissions them. This would mean the earliest a budget could be held would be immediately after the autumn conference recess in September.
The Sainsbury family, long-standing Labour donors, are believed to be providing support to Burnham and Josh Simons, who is in contention for a senior role overseeing the policy operation, to develop ideas and policy proposals.
Business rates and tour of the country
Burnham’s allies are expected to introduce amendments to budget bills currently making their way through the Commons in a bid to push through changes quickly.
One source said this could be done, for example, to reduce business rates for pubs, clubs and music venues
The first two weeks of Burnham’s premiership is likely to be frenetic but the pace could slow in August, with Burnham expected to embark on a tour of the country.
This is all part of Burnham’s plan for his first 100 days, which is being thrashed out among his team and in gruelling access talks between the likely next PM, his chief of staff James Purnell and Cabinet Secretary Antonio Romeo over the past week.
Burnham is set to be confirmed as Labour leader at a special conference on Friday 17 July, before being installed as Prime Minister on Monday 20 July following an audience with the King.
The only potential change to that timetable would be if England were to win the World Cup and Starmer declared a bank holiday.
In that scenario, it is understood Burnham’s visit to Buckingham Palace would instead take place on Friday, 24 July. His team are still deciding whether he speaks outside No 10 that afternoon, although it looks more likely than not that he will.
Only then will he appoint his Cabinet ahead of an inaugural meeting of his senior ministers on Tuesday morning.
The appointment everyone will be watching is that of his chancellor.
Sources close to Ed Miliband, the Energy Secretary, say he has grown increasingly confident that the job will be his. Those around him, however, are said to be far less certain. Others believed to be in contention include Pat McFadden, the Work and Pensions Secretary, Yvette Cooper, the Foreign Secretary, and John Healey, the former defence secretary.
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