𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Sir Mel Stride, the Shadow Chancellor, will use a speech at the British Chambers of Commerce to warn Mr Burnham must not fuel a summer of speculation.

He argues that such a summer would drive investment out of the UK for good.

Sir Mel is expected to say: “If Andy Burnham does not rule out coming back for yet more tax rises on business, there is a clear risk that investment and hiring decisions are put on hold once again as the Budget approaches later this year.”

The top Tory has frequently taken aim at Labour’s tax-and-spend regime after Chancellor Rachel Reeves raised employers’ contributions to National Insurance.

She also rammed through a hike to business rates, sending bills soaring for thousands of firms up and down the country.

At the time, she was accused of a tax on aspiration and employment, with critics suggesting the policy had led to 1,000 job losses per day since Labour took office.

Ms Reeves is expected to be out of a job herself soon, with Mr Burnham reportedly eyeing other Labour bigwigs for the Treasury post.

The former mayor of Greater Manchester is viewed as the frontrunner to be the next prime minister after Sir Keir announced his resignation this week.

No other contender has yet emerged to challenge the Makerfield MP, which means Mr Burnham could be in post within weeks.

He has so far been tight-lipped about his policies, evading questions put by this newspaper. He did not respond when Sir Mel’s criticism was put to him.