Burnham delivered his first speech outside 10 Downing Street after being invited by King Charles III to form a government at Buckingham Palace. He said his administration would make politics "work better" and help Britain "regain our stability."
The new prime minister said he would unveil a 10-year national plan later this year but would begin announcing measures from Tuesday to ease the cost of living. Those measures include reforms to the education system, creating more opportunities for young people to enter the workforce, expanding mental health support and building more social housing.
Burnham said the policies were designed to reduce welfare spending in a fair and sustainable way while meeting the government's fiscal rules and defense commitments.
"We will help people to live well, building a more preventative state, investing in people's success rather than paying for failure, and that work starts now," he said.
Earlier, Keir Starmer formally resigned as prime minister after delivering a farewell speech outside Downing Street, describing serving in the role as "the privilege of my life."
Burnham became leader of the governing Labour Party on Friday after Starmer stepped down following mounting pressure from within the party and declining poll ratings. Starmer's exit made him the shortest-serving Labour prime minister in British history, while Burnham becomes the United Kingdom's seventh prime minister in a decade.
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