Burnham names Healey as Chancellor, brings in O'Neill and Haldane as economic advisers

New PM Andy Burnham appointed former Treasury minister John Healey as Chancellor and recruited Jim O'Neill and Andy Haldane as economic advisers. The picks signal fiscal discipline — careful management of government spending and borrowing — over new outlays. Burnham, who earlier unnerved investors by questioning bond markets' sway, now seeks flexibility within existing fiscal rules rather than rewriting them. His team calls the period ahead a "moment of real peril."