Burnham certainly has bold spending plans:

1. “The biggest council house building programme since the post-War period”
2. HS2 being extended to Manchester
3. A £15bn increase in defence spending
4. Bringing the ‘essentials of life’ under public control – potentially water and energy
5. Maintaining the triple lock
6. £340m to tackle rough sleeping

There’s also a potential increase in the tax free Personal Allowance as well as a VAT cut on electricity.

These are the sort of spending plans often announced when the economy is hot and the UK public finance are in good order.

But we’re running a deficit equal to 5.2% of GDP, with UK bond yields* higher than even after the Truss/Kwasi budget. How is he going to pay for all this?