Keir Starmer resigns as UK prime minister

LONDON, June 24 ------ Embattled British Prime Minister Keir Starmer announced his resignation, with a new leader to be in place by the time parliament returns in September, paving the way for Britain to have its seventh leader in 10 years.

Less than two years after he won a landslide election victory that promised to end chaos in British politics, Starmer said it was clear that his party wanted him to go. "Every decision I have taken has been about putting the country I love first. That is why I will resign as leader of the Labor Party," Starmer said as he choked up in an emotional speech outside 10 Downing Street. He said nominations for anyone to replace him would open on Jul 9. However, his rival Andy Burnham is the clear frontrunner.

"The question my party is asking now is whether I am best placed to lead us into the next general election, I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace. "I will remain in post as prime minister until the contest is complete, and I will do everything I can to ensure an orderly handover of power," Starmer added. "I will also give my successor my full and unequivocal support, knowing that they will inherit a Britain that is far stronger and fairer than the one I inherited two years ago."

Burnham on Monday thanked Starmer for his service and leadership and also confirmed he would put himself forward as a candidate for the next UK prime minister. "(Starmer's) decision marks the beginning of a transition and it is important that this process is conducted in an orderly and responsible way. I will put myself forward as part of this process," Burnham said in a post on social media platform X. "The country expects stability, seriousness and a continued focus on the issues that matter most and that is what it will get," he added. "People want to see progress on economic growth, cost of living, public services, housing and opportunities for the next generation. "Political change should never distract from the responsibility to improve people's lives."

PRESSURE HAD BEEN BUILDING FOR MONTHS

The threat to Starmer, which had been building for months, increased sharply on Friday when Burnham, the Greater Manchester mayor, decisively won a parliamentary election to return to Westminster, beating a candidate from Nigel Farage's Reform UK party, which has led national opinion polls for more than a year. That victory gave hope to Labor lawmakers that Burnham, a career politician known for his communication skills, could transform the fortunes of a party that has lost support under Starmer, whose popularity ratings have sunk to the lowest for any British leader.

Starmer thanked his colleagues for their support, his voice cracking with emotion as he also paid tribute to his wife and children. The pound and British government bonds were steady in the immediate aftermath of Starmer's announcement, which investors had widely expected. Despite the attempt at a smooth handover, the change is not without risk. Beyond saying that the country needs fundamental change and to bring down the cost of living, Burnham has yet to make clear his approach to foreign affairs, the economy and defense.

Like Starmer, he could find he has little room to man oeuvre, hemmed in by bond market investors opposed to any additional borrowing, and confronted by an angry electorate which believes the country is not working properly. Britain already has the highest borrowing costs in the Group of Seven wealthy nations due to its high debt and interest payments, years of anemic economic growth, its struggles to cut spending and the need to invest in areas like defense.

Investors spoken to by Reuters were divided over whether Burnham, who said last September that Britain had to get "beyond this thing of being in hook to the bond markets", would respect the need to reassure markets. He has since said he was misrepresented. "In our view, a Burnham premiership would inherit a precarious fiscal situation with few tools to deliver meaningful change," economists at Citibank said on Friday.

Source: channelnewsasia.com