UK PM Starmer faces resignation threat from Health Minister Wes Streeting
UK Prime Minister Keir Starmer is encountering a significant political hurdle, as Health Minister Wes Streeting is reportedly set to resign as soon as Thursday to initiate a formal leadership bid. According to The Times, the agenda of Starmer's administration, which was presented by King Charles III during the State Opening of Parliament, may not come to fruition. Following this news, British government bond futures experienced a sharp decline, reversing earlier gains, while the pound weakened against the euro. Streeting's office has not provided any comments. Previously, Streeting had a brief meeting with Starmer at Downing Street but chose not to speak to avoid overshadowing the King's Speech.
Key facts
- Health Minister Wes Streeting was reportedly preparing to resign as early as Thursday to challenge Prime Minister Keir Starmer.
- The report was published in The Times newspaper.
- The Starmer government's agenda, outlined by King Charles III during the State Opening of Parliament, might never be implemented.
- British government bond futures fell sharply on the report, erasing day's gains.
- 20- and 30-year government bonds also fell, and the pound weakened against the euro.
- Streeting's office did not immediately respond to a request for comment.
- Streeting briefly met Starmer at Downing Street but declined to comment to avoid distracting from the King's Speech.
- The State Opening of Parliament took place at the Palace of Westminster in London on Wednesday.
Entities
Institutions
- The Times
- Downing Street
- Palace of Westminster
Locations
- London
- United Kingdom