STORY
Darren Jones has said he will not stand in the Labour leadership contest and has backed Andy Burnham after holding talks with him on economic policy. Jones, who has been closely associated with Keir Starmer’s Treasury operation, said Burnham had reassured him that any additional borrowing would need to be targeted and credible.
Burnham remains the only declared candidate and that Labour expects the leadership process to begin on 9 July. If no other candidate secures enough support, Burnham could enter Downing Street by the middle of July, completing another change of Prime Minister during this Parliament.
The intervention is politically significant because Jones had been viewed as one of the most plausible internal alternatives to Burnham. His support may help Burnham reassure Labour MPs concerned about fiscal policy, bond market reaction and the relationship between the next Government and the Treasury.