Cable, Gilts Under Pressure As UK PM Starmer On The Brink As Rebellion Spreads

BY TYLER DURDEN

TUESDAY, MAY 12, 2026 – 06:31 AM

UK Prime Minister, Sir Keir Starmer, is on the brink this morning as The Telegraph reports that six Cabinet Ministers reportedly call on him privately to quit and the number of MPs on the record saying he must go reaches 84.

The Telegraph learnt before the meeting that six ministers – Shabana Mahmood, John Healey, Ed Miliband, Lisa Nandy, Yvette Cooper and Wes Streeting – had been expected to demand Sir Keir’s resignation.

However the Prime Minister did not give Ministers a chance to speak against him and instead set out his case on why he should remain in office.

He told Ministers: “The Labour Party has a process for challenging a leader and that has not been triggered. The country expects us to get on with governing. That is what I am doing and what we must do as a Cabinet.”

He then spent the rest of the hour discussing policy issues and the impact of the Iran war.

Rebecca Long-Bailey, who served under Jeremy Corbyn and was sacked from Sir Keir’s shadow cabinet in August 2020, demanded that the Prime Minister “end this chaos” and set out a timetable for an orderly leadership transition.

Long-Bailey, the 84th MP to call for the Prime Minister’s departure, said:

“Many former Labour voters now feel our party is no longer on their side."

“What we witnessed with the last government was the chaos of constantly changing leaders,” Starmer said.

“And it cost this country a huge amount, a huge amount.”

Source:

https://www.zerohedge.com/markets/cable-gilts-under-pressure-uk-pm-starmer-brink-rebellion-spreads

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