Overview
- Starmer told his cabinet Tuesday the party’s process to remove a leader has not been triggered and he will stay in office.
- At least 71–72 Labour MPs have publicly called on him to resign or set a timetable, according to BBC and Sky News.
- Three junior ministers resigned, including Miatta Fahnbulleh, Jess Phillips and Alex Davies-Jones, and each urged a timetable for a handover.
- Last week’s local and regional elections cost Labour about 1,500 council seats and control of several councils and assemblies, which many in the party view as a rebuke of his leadership.
- Investors reacted to the political turmoil, with UK 30-year government bond yields near 5.8% and the pound down about 0.7% against the dollar, according to Reuters.