New UK Prime Minister Burnham is prioritising measures to ease the cost-of-living burden on households amid high prices, and is reviewing spending to secure the necessary funds. The government plans to scrap the digital ID rollout pursued by the previous Starmer administration, redirecting the substantial implementation costs towards cost-of-living support and other areas. In her Labour Party leadership acceptance speech on the 17th, she signalled a focus on public support in sectors such as housing, energy, water, and transport. Meanwhile, financial markets are wary of the risk of fiscal deterioration from greater government economic involvement, with the 10-year UK gilt yield at around 5%, the highest among the G7. Reports that Home Secretary Mahmood is the frontrunner for Chancellor triggered a roughly 1.3% surge in the pound against the dollar at one point.