{"id":434174,"date":"2026-07-21T14:16:27","date_gmt":"2026-07-21T07:16:27","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/trouble-already-for-burnham-in-his-first-policy-announcement-434174\/"},"modified":"2026-07-21T14:16:27","modified_gmt":"2026-07-21T07:16:27","slug":"trouble-already-for-burnham-in-his-first-policy-announcement","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/trouble-already-for-burnham-in-his-first-policy-announcement-434174\/","title":{"rendered":"Trouble already for Burnham in his first policy announcement?"},"content":{"rendered":"
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I guess that is how quickly things can unravel in Westminster. From earlier:\u00a0UK prime minister Burnham announces VAT cut from energy bills to bring down cost of living<\/a><\/p>\n

As mentioned in the announcement earlier, the policy cost of cutting VAT from energy bills would be around \u00a3850 million. And it was reported that it will be funded through the now cancelled\u00a0digital ID scheme, which\u00a0was estimated to cost approximately \u00a31.8 billion over the coming years.<\/p>\n

However, UK lawmaker Darren Jones is now out to dispute that notion in saying that the digital ID scheme was in fact unfunded in the first place. The infighting looks to already begin after just one day. Good stuff.<\/p>\n

“Good news that VAT will be cut on electricity bills. It\u2019s a simple way for families to save a few quid, and to mechanically help to keep inflation that little bit lower. <\/p>\n

But the Digital ID program was unfunded. <\/p>\n

The government will have to set out how it will pay for its new policies at the budget.”<\/p>\n

So, where is the money going to be coming from?<\/p>\n

This will be a big question for Burnham so early on in his tenure, as he has to underline where the money will come from in trying to lower energy bills as mentioned. Now, Jones was sacked yesterday as part of a purge of Starmer loyalists. So, one can argue that Burnham has brought this upon himself by starting a ruckus in the backbenches. Still, it will be rather careless of him if this is proven true.\ufeff<\/p>\n

The gilts market is still reacting calmly for now but fiscal worries look to be back on the menu in the UK.<\/p>\n

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This article was written by Justin Low at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

I guess that is how quickly things can unravel in Westminster. From earlier:\u00a0UK prime minister Burnham announces VAT cut from energy bills to bring down cost of living As mentioned in the…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-434174","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/434174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=434174"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/434174\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=434174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=434174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=434174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}