Keir Starmer won't quit despite 80 Labour MPs' resignation calls
What's the story
British Prime Minister Keir Starmer has decided to stay in office, despite rising calls for his resignation from within the Labor Party. The calls come after heavy local election losses last week. Around 80 Labor MPs have demanded his resignation, but Starmer maintains that the process for challenging a Labor leader hasn't been initiated. He told his cabinet, "The country expects us to get on with governing. That is what I'm doing and what we must do."
Internal dissent
Six cabinet ministers have advised Starmer to resign
The Telegraph reported that six cabinet members have advised Starmer to resign. These include Foreign Secretary Yvette Cooper, Home Secretary Shabana Mahmood, Defense Secretary John Healey, Energy Secretary Ed Miliband, Culture Secretary Lisa Nandy, and Health Secretary Wes Streeting. Mahmood has reportedly suggested a power transition under the prime minister's oversight. This comes as six ministerial aides resigned on Monday and four junior ministers on Tuesday in protest against Starmer's leadership.
Resignations continue
Parliamentary under-secretary of state in the Department of Health
Zubir Ahmed, parliamentary under-secretary of state in the Department of Health and Social Care, is the latest junior minister to resign over Starmer's leadership. In his resignation letter, he criticized Starmer's "lack of values-driven leadership" and said the public had "irretrievably" lost confidence in him after last week's local elections. Alex Davies-Jones, British minister for Victims & Violence Against Women and Girls, also resigned on Tuesday. She urged Starmer to set a timetable for his departure after "catastrophic" electoral defeats.
Market reaction
Political turmoil hits economy
The political turmoil has also impacted the economy. The pound fell 0.7% against the dollar and 0.4% against the euro. Government bond rates surged, with yields on 30-year bonds hitting their highest since 1998 at 5.797%. Kathleen Brooks from broker XTB told Reuters the bond market is reacting not only to Starmer's potential departure but also to who his successor could be and to the prospect of a drawn-out leadership battle that leads to more fiscal promises Britain cannot afford.
Starmer
Labour lost more than 1,400 seats and control in Wales
In a speech on Monday, Starmer claimed responsibility for the "very tough" election results but said Labour would "never be forgiven for inflicting" the "chaos of constantly changing leaders" on the country, as witnessed under the Conservatives. The Labour lost more than 1,400 seats and control in Wales in Thursday's local elections, while Reform UK and the Greens gained.