Traders eye Andy Burnham's chancellor pick

• UK retail sales hit their lowest level since 1983, indicating economic weakness.
• Keir Starmer resigned as Prime Minister, triggering a leadership contest with Andy Burnham as a potential successor.
• Debate on economic policy includes calls for lower taxes, deregulation, growth plans, and increased ambition to support working people.
• Borrowing costs and investor confidence are highlighted as critical factors for the UK economy.

The UK is facing its lowest retail sales since 1983 and is preparing for its seventh Prime Minister since Brexit, following Keir Starmer's resignation. Political figures debate future economic policy, with discussions ranging from 'Manchesterism' and lower taxes to growth plans and support for working people. Investor confidence and borrowing costs are key concerns amid this political transition.