# Burnham rules out ‘crude cuts’ as he pledges to ‘get serious’ on welfare bill

By Susannah Streeter — 2026-07-27

Andy Burnham has ruled out “crude cuts” to benefits but promised to “get really serious” about reducing the welfare bill.

The Prime Minister is expected to set out his policies on youth unemployment and welfare in the coming days as part of a series of interventions on longer-term problems facing the UK.

Susannah Streeter, chief investment strategist at Wealth Club, said: “With fears of a chronic energy crunch easing a little, it has helped take the pedal off borrowing costs which accelerated higher last week.

“UK gilt yields have dipped back, easing the pressure slightly on the Burnham administration.

“This will be welcome given focus has switched firmly to the spending challenges facing the new government, with warnings from the Prime Minister that social care needs desperate reform to help save the NHS while also accepting that the benefits bill needs to be brought down.

“There is still a distinct lack of detail on how he and his ministers will go about tackling the huge costs of welfare, and so investors in government debt look set to stay wary while there’s so much talk but so little action on lowering government spending costs.”

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