Andy Burnham is delaying approving plans for the Jackdaw gas field until the autumn, after the Holborn and St Pancras by-election and Labour conference. No prizes for guessing why…
According to the Telegraph, the decision was set to be made as soon as Monday, but it has now been pushed back to avoid upsetting the left before a crunch by-election. Even amid warnings of a gas shortage…
Former Treasury minister and adviser to Burnham in the Makerfield campaign Lord Jim O’Neill, who has turned down a role in his government, said Burnham’s first statement Commons was:
“The last thing investors wanted to hear… gilt yields have risen by a 0.25% in one day, which is a lot. We’ve not had that since Liz Truss days… If your country is under the focus of ‘can they come up with a sensible fiscal strategy’ on a day when the markets think ‘well no, you’re not showing any sign of it’ you’re going to have a tough day…if it stays like this your mortgage rate is going up.”