Reuters: The potential return of Burnham to Westminster alarmed investors on Friday.
Sterling, down around 2% against the dollar this week, was set for its worst week since late 2024, while UK long-term borrowing costs hit their highest in almost two decades and UK bank stocks tumbled.
Those on the so-called soft-left of the party, including Burnham and former deputy leader Angela Rayner, favour more state involvement in key industries, protecting workers’ rights and more tax to spend…