Downing Street has denied claims that Andy Burnham is moving towards some payouts to recognise Britain’s historic involvement in the slave trade.

Reports had suggested that the prime minister was open to increasing financial assistance for Commonwealth countries to help atone for Britain’s role.

But while Mr Burnham has said he is willing to consider an apology, both Downing Street and the Foreign Office (FCDO) denied he was looking at providing any extra financial assistance.

An FCDO spokesperson said: “We are committed to working with Commonwealth partners on issues facing the world, including the role of private finance in tackling global debt issues, addressing the climate crisis, and supporting economic development.”

A Downing Street source added that “the prime minister’s position is clear: we do not believe financial reparations for the slave trade is the right answer. We will not be making additional aid allocations on top of existing budgets.”

The row has come as Mr Burnham and King Charles attend the Commonwealth Heads of Government meeting in Antigua and Barbuda.

Caribbean nations have been pushing for the UK to pay reparations for its historic role in the slave trade, which saw thousands of people transported to their nations from Africa.

Mr Burnham is facing pressure from the left of his party over the reparations issue while an event is being held alongside the CHOGM summit at the Trade Winds Hotel in Antigua entitled From Samoa to St John’s: Britain, the Commonwealth and the Road to Reparatory Justice.

Clapham and Brixton Hill Labour MP Bell Ribeiro-Addy is pushing for the British state to recognise its historic responsibility for the slave trade.

She told : “The prime minister’s attention to the issue of reparations, and his recognition that Britain must engage with our international partners on this, is welcome.

“Given the stance taken by successive governments on this issue, it is important to see him accept that Britain’s role in African chattel slavery cannot simply be brushed aside.

“He has said he is open to a formal state apology. But openness is not commitment. Until the government makes a full and unequivocal apology, that remains the obstacle to progress.”

She added: “Nobody is asking the average British person to take personal responsibility for enslavement. This is about the responsibility of the state. The British state protected and profited from enslavement.

“The British state compensated the slave owners, not the enslaved. And British taxpayers were still paying off that debt until 2015. States are held to their past actions all the time. This should be no different.”

Commonwealth leaders said Mr Burnham had made an “essential first step” towards a reparations deal, after he said he was open to making a formal apology for slavery.

Mia Mottley, the prime minister of Barbados, insisted that she expected “investment in health and education” and a “development partnership” with the UK.

Andrew Holness, the prime minister of Jamaica, called for “meaningful” discussions on “reparatory justice”.

Tory leader Kemi Badenoch has been critical of Mr Burnham’s willingness to make an apology, describing the reparations issue as a “distraction” and warning that the Commonwealth “needs to be forward-looking”.

Explaining why she opposes an apology, she told Sky News: “It’s because of what will happen next.

“What I’m worried about is that this CHOGM summit is yet another opportunity for people to start asking Britain for money because of the slave trade.”

Sir Michael Ellis, a former attorney-general, has warned that an apology by Mr Burnham would increase the risk of a successful legal bid for reparations against the UK.

He said: “It’s tantamount to accepting liability. If Burnham goes to an international conference and apologises, he is making it easier for those who want to take the UK to an international tribunal such as the UN, as they did with Chagos.”

Meanwhile, King Charles is expected to address the issue, saying that there needs to be “unflinching honesty” about the historic slave trade and “sincere sorrow”.

Critics of the reparations cause point out that while the UK profited from the slave trade, it also became the world’s first superpower to ban it and actively try to stop it around the world.