UK MP Jones says that while he has the 81 seats required to run, he will not contest against Burnham for Labour leadership, Sky News reports; Jones says he thinks traders "can be content" with Burnham as PM

Jones adds that he thinks there is room to "borrow a little more", and things (referring to investment) can be done differently; without "broad brush" borrowing and spending. Would be happy for Burnham to borrow more for specific investment. Important that Burnham is committed to the fiscal rules.