Keir Starmer resigns as UK leader after less than two years, marking the sixth leader to quit in 10 years amid political instability. Decades of economic stagnation, high national debt, and unresolved issues like illegal immigration have eroded public trust, leaving Britain in a 'very deep hole.'
Donald Trump stated Keir Starmer will resign as UK prime minister, citing failures in immigration and energy policy. Speculation intensifies in Westminster about Starmer's potential departure, with a senior ally declining to rule out a move. Andy Burnham is reportedly being considered as a successor.
Rolling coverage of the latest economic and financial newsStarmer on the brink as cabinet ministers urge him to quitGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Another UK political crisis is looming over the City of London today, as prime minister Sir Keir Starmer faces more calls to set out a timetable for his departure.With a Cabinet meeting expected this morning, today could be a big day in determining Starmer’s future.In response to the uncertainty, 10-year UK gilt yields rose +8.6bps to 5.00% yesterday, whilst the 30-year yield rose +9.3bps to 5.67%, given expectations that a new Labour leader may face pressure to ease the fiscal rules and raise gilt issuance. Continue reading...
