Overview
- Allies of Health Secretary Wes Streeting said Thursday he is ready to quit the Cabinet to run for Labour leader, signaling a possible challenge to Keir Starmer.
- Angela Rayner said she had been cleared by the tax authority of deliberate wrongdoing, removing a key obstacle to any future bid, though she said she would not move first.
- The King's Speech went ahead Wednesday as Charles III set out the government's agenda, and Starmer told colleagues he would continue to govern.
- At least 86 Labour MPs have urged Starmer to resign and four junior ministers have quit, yet no rival has gathered the 81 MP nominations required to trigger a leadership contest.
- The crisis followed heavy local election losses to Reform UK and others, and UK government bond yields rose to 5.797% on Tuesday as investors reacted to the political uncertainty.