British Prime Minister Andy Burnham said that Britain “overexposed” the global bond market and defended his controversial remarks that raised concerns among investors last year. Burnham said he still insisted on his statement before becoming prime minister that Britain should not be “bound” by the bond market. The related remarks later raised concerns that his future government might adopt a more relaxed fiscal policy. Although he has since promised strict fiscal discipline to appease the market, Burnham said in an interview published in “The New Statesman” magazine on Wednesday that he still adheres to his original views. Burnham said, “That point about the bond market still holds true. What I wanted to express at the time was that this country was putting itself in a state of overexposure.” However, he added that what he advocates is the establishment of a “leaner and more productive system of government.”

British Prime Minister Andy Burnham said that Britain “overexposed” the global bond market and defended his controversial remarks that raised concerns among investors last year. Burnham said he still insisted on his statement before becoming prime minister that Britain should not be “bound” by the bond market. The related remarks later raised concerns that his future government might adopt a more relaxed fiscal policy. Although he has since promised strict fiscal discipline to appease the market, Burnham said in an interview published in “The New Statesman” magazine on Wednesday that he still adheres to his original views. Burnham said, “That point about the bond market still holds true. What I wanted to express at the time was that this country was putting itself in a state of overexposure.” However, he added that what he advocates is the establishment of a “leaner and more productive system of government.”