Burnham is currently the only candidate to replace Starmer. If he faces no challengers, the former mayor of Greater Manchester could be prime minister as early as mid-July.
During his campaign to become an MP this month, Burnham remained vague about his economic agenda, particularly on whether he would shift the ruling Labour party to the left.
His much-anticipated speech, expected to be delivered at a museum in his Manchester stronghold, is set to detail his economic policy and demonstrate he is ready to lead the government after a decade away from Westminster.
A pro-business socialist seen as representing the Labour party’s “soft left”, Burnham has sought to calm markets by committing to the government’s current borrowing limits.
Government minister Steve Reed told Sky News on Sunday that while there could be “conversations” on some policies, Burnham is “committed” to the manifesto that handed Starmer a thumping majority in general elections two years ago.
First as mayor and now prime-minister-in-waiting, Burnham’s mantra has long been devolution, or empowering local authorities to make decisions on everything from transport to housing.
Burnham’s press office said the speech’s “central proposal is the biggest transfer of power out of Whitehall in modern times, with decision-making pushed to regions and local communities,” referring to the London district where the government’s main ministries are clustered.
Burnham will propose the creation of a “No. 10 North” to coordinate the devolution — a play on words on the UK Prime Minister’s address at 10 Downing Street — with a goal of “replacing a centralised, top-down model with locally driven economic growth.”
“Andy wants to see that right round the country — communities in every part of Britain being able to seize their own agenda,” Burnham-ally and the Labour Party’s deputy leader Lucy Powell told the BBC on Sunday.
Coining the phrase “Manchesterism”, which he defines as business-friendly socialism, Burnham has railed against trickle-down economics and neo-liberalism.
In a bid to bring more resources and investment to the poorer north of the country, Burnham wants to move some government operations to Manchester, the Financial Times and other UK media have reported.
Among his more defined economic beliefs is greater “public control” over services like transport, water and energy.
During his campaign, Burnham positioned himself as a champion for small businesses and proposed cutting business rates for pubs and music venues.
In the days since Starmer resigned, speculation has been rife among UK media and businesses about who Burnham will appoint as his finance minister, which could determine just how left-wing and pro-nationalism his government will be.
US President Donald Trump chimed into the debate as well, calling Burnham an “extremely liberal” politician who likely “won’t open up” the North Sea to oil and gas drilling.
