Starmer says he will campaign for Burnham in Makerfield byelection – as it happened

Prime minister tells reporters he would campaign personally in the contest

Britain’s politicians need to worry less about the bond markets – and more about the Bank of England

A new model of central banking would weaken the power of bond vigilantes – and help progressive politicians pay for transformative change, says academic Daniela Gabor

UK service sector activity slumps in one of sharpest declines for a decade

Firms hit by ‘perfect storm’ of uncertainty about Labour leadership and impact of Iran war

Schools are ‘pipeline’ to joblessness for many people, says ex-Labour adviser

Ban social media and reform education to tackle scandal of young people not in work or study, says Peter Hyman

Manchester shows biggest fall in inner-city deprivation in boost for Burnham

City made outsized contribution to falling levels of deprivation between 2010 and 2025, thinktank finds

Reeves to promise free summer bus rides for children and food tariff cuts in living costs package

Chancellor launches ‘Great British summer savings scheme’ after Keir Starmer postpones fuel duty increase Planned fuel duty rise to be scrapped, says Keir Starmer

The Treasury’s supermarket food price cap wheeze was bananas

Retailers such as M&S need not worry – the UK is not in a state of emergency and competition is clearly working

UK inflation eases more than expected to 2.8%, led by lower electricity and gas bills – as it happened

Food inflation slows to 3%, led by meat and chocolate; prices of computer game downloads drop sharply; economists say benign inflation data reduces chances of June rate hike

Germany urged to stop admiring Beijing and wake up to ‘China Shock 2.0’

‘China has already eaten much of German industry’s lunch and is preparing to start on dinner,’ thinktank says

UK inflation slows to 2.8% as energy price cap softens impact of rising fuel costs

Lower than expected April annual rate a lift for Rachel Reeves as impact of Iran war yet to fully hit households

Can Burnham turn ‘Manchesterism’ into a practical offer for government?

Roots of idea for ‘ending neoliberalism’ have been growing over many months – with many different influences

UK wage growth slows and unemployment rate rises as companies react to Iran war – as it happened

Jobless rate unexpectedly rises to 5% and employment falls by 100,000, biggest drop in six years; economists say June interest rate hike looks less likely

UK unemployment unexpectedly rises to 5% as firms squeezed by Iran war

Pay growth eases to 3.4% as businesses face pressure from soaring energy costs

No feelgood factor for Reeves as Iran war snuffs out economic upturn

Rise in unemployment and weak pay growth underline how tough this year will be for UK households

Andy Burnham’s change in tack on fiscal rules and bond markets is understandable

Bookies’ favourite to replace Keir Starmer tones down stance on government borrowing to assuage City investors