UK media warn of market chaos if PM Burnham does not curb spending, preview defence pledges and other political developments

Several of the papers on Thursday home in on a warning to Andy Burnham from the City of London. It says there will be "markets chaos" if the new prime minister does not rein in spending, cautioning that he cannot "borrow his way out of this". The Telegraph notes Burnham refused to rule out more borrowing during his first Prime Minister's Questions on Wednesday. On its front page, the paper also previews a speech from Conservative leader Kemi Badenoch; it says she will vow to increase defence spending to 3% by 2030 by cutting Britain's welfare bill.

The Daily Mail also leads on Badenoch's pledge to slash welfare to fund military spending. It says the Conservative leader "piled pressure" on the prime minister on Wednesday, noting it is a commitment Burnham has so far failed to match.

"One in the eye for Andy" declares the Sun, following a meeting between Burnham and French President Emmanuel Macron at the British Museum on Wednesday. While viewing the Bayeux tapestry, which is being loaned to the UK by France, the paper says Macron told the prime minister he would offer "just 45 more do-nothing cops" to help deal with the "small boats crisis". Macron will announce the move at some point on Thursday, the paper reports over a picture of boats from the tapestry, which famously depicts King Harold being shot in the eye with an arrow.

The Bayeux tapestry also features prominently in the Times, which carries a photograph of King Charles III laughing alongside the French president as they viewed the tapestry on Wednesday. An attack against Burnham by defence select committee chair Tan Dhesi is the main story for paper, which says Dhesi has called on the prime minister to "urgently commit" to finding extra money for defence. Burnham was told "vibes alone" would not be enough to keep Britain safe, the paper writes.

The British royal family is vulnerable to cyber attacks from hostile states, according to the i Paper. It says the monarchy's "ageing legacy" computer system increases the risk of hacks, reporting the Palace's official website has previously been taken offline and confidential files are thought to have been accessed.

"PM tried to calm bond markets as sell-off threatens first budget" reads the Guardian, which says Chancellor John Healey is facing the prospect of "sharply reduced" spending power after a "days-long sell-off" of government bonds. The paper says Burnham's first PMQs on Wednesday have been "widely seen" as an attempt to soothe investors.

The Financial Times looks at how Burnham is approaching his relationship with the European Union, after the prime minister told MPs on Wednesday he was worried that a "Made in Europe" procurement plan currently being drawn up in Brussels will post "significant problems for British steel". He has named steelmaking and farming as sectors he wants to protect as part of any new EU-UK deal, the paper writes.

The Daily Express offers its own analysis on Burnham's "soaring borrowing costs", reporting there are fresh calls for the triple lock to be axed in order to save money. The paper says campaigners are warning Burnham that voters will "punish him at the ballot box" if he scraps the pension safeguard.

Reform UK leader Nigel Farage is pictured front and centre of the Daily Mirror, paired with the headline: "A right whinger". It reports Farage has complained about being "judged every day", his comments coming as he faces a parliamentary investigation into a £5m gift from billionaire Christopher Harbone.

Aliens are the focus of the Daily Star's front page, which promotes a story in which the European Space Agency says it is confident space missions will find some form of life.