UK PM Burnham says he is putting the country on a new path, with a new economy

Nationalisation: Burnham talks about things that went wrong, “homes, water, energy, transport, care - broken up and sold off”. Wants more control of the basics. Government will present a strengthened water bill to parliament to repeal the ban on public ownership of water companies. Energy: Wants cost of energy to be in-line with peers within 10 years. We will be pragmatic when it comes to the North Sea. Will draw up a national energy plan. You will see VAT disappear off electricity bill on Thursday. Housing: Will give councils the power to make compulsory purchases of empty homes. Fiscal: Have to be honest about what the country can do within fiscal rules. Will stick to fiscal rules, and get borrowing down. Social Care: Need a social care service and will build one. Service will be fully funded and not through borrowing. Triple Lock: UK will adjust pension triple lock promise in 2030; pension will rise by either by inflation or 2.5%, it will become a double lock, with wages taken out. Pensioners will always share in rising prosperity in the nation. Savings from changes to pensions will go into the care service. These changes will generate significant savings. Defence Spending: Fails to commit to increasing defence spending to three per cent of GDP by 2030.