England’s incoming PM is getting down to business

Andy Burnham will become England’s seventh prime minister in a decade on Monday—the type of job turnover usually reserved for head coaches of a dysfunctional NFL franchise. He is tasked with something his predecessors failed to accomplish: reigniting an economy that has stagnated since the country left the European Union a decade ago.Installed as leader of the Labour Party yesterday, Burnham called the moment the “most significant change” in British politics in 40 years. He promised to unify his party and “beat Britain’s new right,” while remaining “pro-business.”But some businesses may get more help than others. His introductory speech included the slogan: “Good growth in every British postcode.” Bloomberg reported that big businesses and banks based in London—where productivity has widely outpaced the rest of the country for decades—expect less favorable policies. And strategists close to Burnham told the New York Times that decentralization could be at the center of his still-unfinalized economic agenda.Burnham may also push for other major reforms: He said yesterday that public ownership of essentials, like water and energy, that were privatized in the 1980s under Conservative Prime Minister Margaret Thatcher would reduce inflation, which sat at 2.8% in May, above the Bank of England’s goal of 2%.—DL