Andy Burnham is worried about becoming Liz Truss. In an interview deemed so important it currently appears on the New Statesman’s website three times, he said: ‘we’ve got to get beyond this thing of being in hock to the bond markets.’ His worry, it seems, is that the main economic policy he’d like to introduce, nationalisation of everything, would require so much borrowing that it would cause the markets to freak out á la Truss and collapse a nascent Mancunian ministry.

Since the interview one or two people have pointed out that we can’t really just choose to ignore the bond markets – much as Burnham might like to. And so a number of explanations have been offered up for what Burnham really meant. The latest, through his interviewer and New Statesman editor Tom McTague, is that there

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