How will the markets react if Burham becomes Prime Minister?
It's beginning to look like Burham will be crowned as Prime Minster with little opposition. We don't know much about him but it's looking like he will be far more left wing than Starmer. It looks like his policies will be 1/ Greater public ownership / control of utilities (especially water and energy) 2/ Large-scale public investment in infrastructure and housing He has backed spending £40 Billion on council housing. Is supportive on rent controls. He wants to reduce bus fare caps back to £2 from £3. So let's look at these. Taking water into public ownership depends on the approach. The lower end cost to the tax payer would be £60 Billion but is likely to result in legal battles. A less confrontational approach would cost in the region of £150 Billion. Big sums to pay out for a capital intensive low margin business. It's hard to see what we would gain. At least with private ownership you can fine them for pollution breaches...