Burnham picks Healey as Chancellor, taps O'Neill and Haldane as economic advisers

New PM Andy Burnham named veteran former Treasury minister John Healey as Chancellor and recruited Jim O'Neill and Andy Haldane as economic advisers. The choices point toward fiscal discipline and regional rebalancing over spending increases. Burnham, who earlier alarmed investors by questioning bond-market deference, now seeks "any flexibility" within existing fiscal rules rather than rewriting them. His team calls the period ahead a "moment of real peril."