The resignation of UK Prime Minister Keir Starmer has triggered the pound to fall and gilt yields to climb as financial markets’ concerns about an Andy Burnham leadership grow, warns the CEO of one of the world’s largest independent financial advisory organisations.
Labour MPs are increasingly likely to move against Keir Starmer after a devastating set of election results, potentially opening the door to a leadership battle that could, ultimately, deliver both a new Prime Minister and Chancellor.
UK government borrowing came in higher than forecast in June, a setback for Chancellor of the Exchequer Rachel Reeves that has markets jittery and households bracing for tax hikes.
