New PM Andy Burnham’s bold spending plans hit a fiscal wall as Britain grapples with soaring debt and market jitters. With no room to maneuver under strict fiscal rules—already tweaked to count assets against debt—Burnham faces tough choices: tap dwindling reserves, invest in infrastructure, or risk investor panic by rebranding borrowing. Experts warn creative accounting may be running out of steam, and with aging populations and defense costs looming, the UK needs a credible financial strategy—not just clever bookkeeping.
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