On Wednesday, British Health Minister Wes Streeting firmly dismissed claims that he was conspiring to overthrow Keir Starmer. Unnamed sources close to the Prime Minister had suggested to the media that a coup attempt might occur later this month post-budget.
Keir Starmer led the Labour Party to a historic victory in 2024, but now, just 16 months later, the party is struggling in the polls and may have to abandon a key promise to raise income taxes for the first time since the 1970s.
On Wednesday, several British media outlets reported that Starmer’s allies affirmed he would resist any leadership challenge, citing Streeting and Interior Minister Shabana Mahmood as potential successors.
HEALTH MINISTER DENIES RUMORS
“That briefing is categorically untrue,” Streeting stated on BBC Radio.
During media interviews, Streeting criticized the rumors as counterproductive, as they suggested Starmer was defending his position rather than focusing on improving the country.
“I’m not demanding the Prime Minister’s resignation,” he told Sky News. “I support him and have since he became Labour Party leader.”
On Wednesday, British government bond prices dropped and lagged behind U.S. and German bonds, indicating investor concern over Starmer’s future. The pound declined slightly against the U.S. dollar.
Market analysts expressed worry that if Starmer were ousted, a left-leaning successor might increase government borrowing.
PRESSURE FROM NIGEL FARAGE’S PARTY
Labour’s drop in popularity is largely due to tax hikes and unsuccessful attempts to reduce welfare spending, with the upcoming budget being a potential conflict point.
Two Labour MPs expressed frustration over the rumors, highlighting what they see as an ineffective team around Starmer at Downing Street. One commented anonymously that it felt like the “end of days”.
Opinion polls show Starmer as one of the least popular prime ministers, with his party falling behind Nigel Farage’s Reform UK for months.
Removing a Labour leader is challenging, requiring support from 20% of the party’s MPs, equating to about 80 agreeing on a new candidate.
The centre-left Labour Party is gearing up for the November 26 budget announcement, with Finance Minister Rachel Reeves indicating a tax increase might be necessary to address a fiscal deficit, following last year’s £40 billion levy hike she termed a one-time measure.
