Andy Burnham, four days into his premiership, has been announcing a string of early-morning "cost-of-living" giveaways, including scrapping VAT on energy bills, capping bus fares at £2, and cutting business rates for pubs and clubs. With income tax, VAT and employee national insurance rises ruled out, and Rachel Reeves' borrowing rules still in force, he has little conventional room to fund these and larger promises still to come.

– A wealth tax: options include raising the top income tax rate from 45p to 50p (roughly £750m), a 2% levy on high-value assets such as property, art and jewellery (around £10bn), or equalising capital gains tax with income tax (£10bn-£14bn, though critics warn it could deter investment)
– Raiding other departmental budgets, such as funds freed by scrapping the digital ID scheme or diverting Ed Miliband's former climate fund to cover the bus fare cap
– An "Amazon tax" on online retailers to help fund wider business rate cuts for high street shops and pubs