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. This was reported by Qazaqyia.kz citing Associated Press.
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.
In an effort to balance the competing demands, Burnham surprised pundits by naming former Defense Secretary John Healey as his Treasury chief. Healey, who served in the Treasury under former Prime Minister Gordon Brown, is seen as someone who will make sure the government lives up to its pledge to reduce Britain's debt pile.
Then, first thing Tuesday morning, Burnham made a down payment on his commitment to ease the pressure on cash-strapped consumers.