Andy Burnham gives first speech after officially becoming British Prime Minister

Andy Burnham has vowed to end rough sleeping in his first speech as British Prime Minister.

During his address outside 10 Downing Street in London on Monday, Burnham vowed to perform better than outgoing PM Keir Starmer by building a "new economy" and helping homeless people throughout the U.K.

"I will soon go through that door behind me and issue my first instruction - to end rough sleeping in our country," he shared.

"It's about putting the right values and the right standards at the heart of government."

Within minutes of Burnham entering No 10, a £340 million ($450 million) fund was announced to support at least 3,000 people who are currently sleeping rough over a five-year period, beginning with the "acquisition of suitable homes".

The 56-year-old politician also revealed his intention to focus on education and combat the cost-of-living crisis, as he unveiled his ambitious 10-year plan for Britain.

"We will help more young people into work by changing the education system and giving them more support, more mental health support, and we will build more council homes," he told his crowd of supporters, which included his mother Eileen and former football star Peter Reid.

"That is the fair and sustainable way to bring the welfare bill down to meet our fiscal rules and to honour our commitments on defence to our international partners," he continued.

"We will help people to live well, building a more preventative state, investing in people's success rather than paying for failure."

Earlier on Monday, Burnham travelled to Buckingham Palace and accepted King Charles III's invitation to form a government.

In an unusual move, the new PM was accompanied by his wife Marie-France van Heel.

"His Majesty received in audience the Rt Hon Andrew Burnham MP and requested him to form a new Administration," a palace spokesperson confirmed.

"The Rt Hon Andrew Burnham MP accepted The King's offer and kissed hands upon his appointment as Prime Minister and First Lord of the Treasury.

"Ms Marie-France van Heel was also received by His Majesty."