Andy Burnham Accused of Burying Skyscraper Loan Report

Andy Burnham is the Mayor of Greater Manchester. His team runs the Greater Manchester Combined Authority (GMCA). They have given nearly £1 billion in public loans to help build skyscrapers in Manchester

Now people say Mr Burnham’s team “buried” or hid an important report about these loans. The report was finished in January 2025. But they did not publish it until March 2026 – more than a year later.

The loans come from public money (taxpayer cash). The biggest borrower is a company called Renaker. It got more than £800 million. This is over half the total money lent by the fund.

The fund was meant to build homes – including some affordable ones for people who do not earn a lot. But reports say only a small number of the new homes are affordable. One figure is just 4% or about 503 affordable homes out of more than 10,000 built with the help of the fund.

Background to the story

•  The GMCA set up a Housing Investment Loans Fund in 2015.

•  It lends money to developers on commercial terms (they expect it back with interest).

•  Manchester now has many new tall buildings. The skyline has changed a lot.

•  Renaker built many of these luxury flats. Critics say the public loans helped one big company a lot.

A rival developer, Aubrey Weis, took the GMCA to court. He said the loans gave Renaker an unfair advantage and distorted the market. The court ruled in favour of the GMCA last year. Mr Weis is appealing.

What does the report say?

The independent report (called an evaluation) says the fund delivered “good value for money”. It helped build about 11,000 homes and boosted the economy.

But it also notes that loans “heavily skew” towards city centre skyscrapers and one main developer (Renaker).

Reactions Critics say:

•  The delay in publishing looks like hiding bad news.

•  Too much money went to luxury flats instead of homes people on ordinary wages can afford.

•  One developer got too big a share of public support.

GMCA response:

•  They say the report is positive overall.

•  The fund created jobs, brought in interest money, and helped regenerate the city.

•  All loans followed proper rules. No cosy relationship with developers. The court agreed.

A spokesperson said the fund rebuilt confidence in Manchester’s housing market and supported many projects.

What happens next?

The report is now public. People are still talking about whether the loans were the best use of public money. Mr Weis’s appeal continues. Questions about affordable housing in Manchester remain strong.

This story is developing. Watch for more updates from the GMCA, the Mayor’s office, and opposition politicians.