Andy Burnham officially became the United Kingdom’s Prime Minister on July 20, 2026, taking over after Keir Starmer resigned. Sir Keir Starmer expressed his full support for his successor, wishing him every success in the new role.
“As I now pass the baton to Andy Burnham, I wish him every success.”
In his last speech as prime minister, Sir Keir Starmer says his successor has his “full support”, as he thanks his family and Downing Street staff.https://t.co/CnHH75V7Xu
📺 Sky 501, Virgin 602 pic.twitter.com/rjirUrDjWW
— Sky News (@SkyNews) July 20, 2026
Starmer used the moment to reflect on two years in charge, defined by his 2024 victory.
As Burnham prepares to enter 10 Downing Street, the new Prime Minister is expected to quickly name his first cabinet. This orderly transition within the Labour Party will see him outline a comprehensive 10-year strategy aimed at reshaping Britain’s future.
Under Starmer, the government pushed forward a strict setup requiring Financial Conduct Authority licensing starting in October 2027. However, his team faced criticism for being too cautious, including a temporary ban on crypto donations to political parties in March 2026 over money laundering fears.
Will Burnham adopt a pro-crypto stance?
Burnham has a clear history of working with Web3 founders and supporting local tech growth. During his time as Manchester Mayor, he spoke warmly about blockchain technology, seeing digital tools as a key way to create regional jobs and build new industries outside London.
Industry groups now hope for a change toward rules that help businesses grow. While FCA oversight will stay in place to protect users, market watchers expect Burnham to bring a more practical tone that reduces paperwork and rethinks tough rules like the donation ban.
How will the new UK government balance innovation and regulation?
Labour lawmakers are urging Burnham to take an even tougher stance on digital asset rules, with former democracy minister Rushanara Ali calling for a full ban on political crypto donations. Conservative Party leader Kemi Badenoch offered her congratulations to Andy Burnham, while pledging to provide robust opposition to the new Labour administration.
She maintains that any upcoming policy initiatives must be financed via reduced public expenditure rather than increased debt or taxation, citing the nation’s heavy tax pressure and a welfare budget expected to hit £110 billion every year by 2030.
In February, DeFi Planet earlier reported that Keir Starmer announced a ban on AI chatbots, amending the Crime and Policing Bill so providers like Grok, ChatGPT, and Gemini must comply with the Online Safety Act’s illegal content rules. Non-compliant firms risk fines up to 10% of global revenue or a UK service block, alongside planned social media age restrictions.
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