Labour Leadership Crisis Deepens After Streeting Quits, Burnham Eyes Return

Overview

• Wes Streeting, who resigned Thursday as health secretary, said he had lost confidence in Keir Starmer and urged a leadership contest.
• Keir Starmer signaled he will fight any challenge, while allies such as finance chief Rachel Reeves warned MPs that a contest could throw the country into chaos and risk a fragile economic recovery.
• Angela Rayner said authorities cleared her of deliberate tax wrongdoing, removing a barrier to a potential bid, though she has not declared her intentions.
• Andy Burnham is seeking a route back to Parliament to run, and Streeting indicated he could wait to see if Burnham secures a seat, a step that could delay any contest by weeks.
• Investors reacted to the turmoil with higher UK borrowing costs, a weaker pound, and falling bank shares, and Aviva CEO Amanda Blanc said frequent leadership changes make the UK look unstable to global businesses.