Speaking to Andrew Marr on LBC, the former Manchester mayor said he intended to broadly stick to Labour’s 2024 election manifesto promises of not raising income tax, VAT or national insurance personal contributions but added that “there is some room for movement on tax”.
He explained he would look at increasing business rates on large warehouses while proposing a 20% cut for pubs, as well as lifting some high street venues out of business rates altogether.
The recently elected Makerfield MP went on to say that it was important to prioritise and reward businesses that “bring social benefit”, including bars, restaurants, and coffee shops.
“The high street really needs to get more of our attention. We need to bring life back to the high street,” he says.
Burnham also discussed the issue of high business costs, particularly energy prices. He set out his intention to develop a plan for greater public control over water, energy and transport in order to bring down bills.
“Britain is paying too much for the basics, people are paying too much for the basics, but businesses are also paying too much, and that is certainly true of energy,” says Burnham.
“What I would do if successful is lay out a plan for more public control over water, energy and transport so that over time we can get those bills down, fares down, and give businesses breathing space.”
He also revealed that ahead of his expected unveiling as prime minister on the 20 July, he has not yet decided who would serve as his chancellor.