WELL, it’s what we all feared.
A bunch of ambitious vultures picking over the bones of a zombie Prime Minister.
The Burnham by-election will take weeks, and presumably Starmer will be given some face-saving fanfare departure that will take another few months Credit: AP
And the real world — seemingly an alien place to the modern — is passing its verdict on the chaos.
sliding against the dollar. ticking upward.
Investors eyeing Britain with the kind of nervous suspicion usually reserved for emerging markets and Banana Republics.
Just listen to the boss of , who put a massive investment in Britain in doubt amid the latest clown show.
Not a man to mince his words, Jamie Dimon warned its plan to build a £3billion London skyscraper is now up in the air in case Britain becomes “hostile to banks again”.
As the drama unfolded, the financier warned: “I’ve always objected to the fact . . . we didn’t damage the UK in any way.
“We paid probably $10billion in extra taxes by now. I don’t think that’s right or fair.
“If that happens too much we will reconsider.”
Yet the very moment tensions with are threatening global energy supplies and sending into fresh panic, drags out this Labour psychodrama for another few weeks.
Because while the world worries about shipping lanes, energy shocks and aftershocks, MPs are once again consumed by what MPs love most: themselves.
The self-appointed King in the North — the personification of the union machine with a left-wing spend-spend-spend mindset — has hardly reassured anyone watching Britain’s finances.
Investors do not see ideological romance in these leadership manoeuvres.
They see higher spending.
Higher borrowing.
More state intervention.
More instability.
In short, an economic basket case.
For a already fragile after years of weak productivity, sticky inflation and mounting pressure on household , rising gilt yields are not some abstract City boy concern.
They mean more expensive .
More pressure on public finances.
The self-appointed King in the North Andy Burnham has hardly reassured anyone watching Britain’s finances Credit: Getty
Nigel Farage told me this week that Reform is ready for government Credit: Getty
Less room for tax cuts.
Less confidence in Britain as a place to invest.
The irony is brutal.
Labour came into office promising “stability”.
Sun readers were far from alone in seeking change in 2024, simply wanting competence and, frankly, a bit of bloody peace and quiet.
And they are far from alone in quickly realising they have been sold a pup.
Instead, we are now watching the opening act of another leadership bloodbath — exactly the sort of spectacle that the UK spent years being mocked for during civil wars.
The will take weeks, and presumably will be given some face-saving fanfare departure that will take another few months.
At least the Tories did this stuff brutally and quickly with .
Wes Streeting sensationally quit the Cabinet and blasted Keir Starmer Credit: AFP
Iran tensions pushing oil prices higher while a Labour civil war convinces investors that Britain is lurching sharply leftward Credit: Getty
This spectacle feels like it’s going to take an age.
Only this time, the stakes are even higher. Because lurking behind the Left’s manoeuvring is a much bigger question.
What happens if the Starmer project collapses completely? The unions smell further leverage and suddenly the floodgates open to figures who were supposed to have been permanently exiled after the grim and dark Corbyn years.
These are hardliners who see every crisis as proof that Britain needs more nationalisation, more spending, more borrowing, more hostility to business and more ideological confrontation with the markets.
And markets are not sentimental.
The last time Britain flirted openly with unfunded ideological economics, the consequences were swift and ugly.
Sterling was punished. Pension funds wobbled.
International confidence evaporated almost overnight.
Yes, the horrors of the Truss saga are still raw.
But now imagine that scenario colliding with a energy shock.
Iran tensions pushing oil prices higher while a Labour civil war convinces investors that Britain is lurching sharply leftward.
That is the nightmare cocktail haunting traders right now — geopolitical instability abroad paired with political instability at home.
Labour still struggles to understand the simple basic truths of the real world.
Global capital can move far faster than political sloganeering.
Investors do not wait patiently for party conferences and factional debates. They hit the “sell” button.
Britain needs to project competence, seriousness and stability to attract investment in an increasingly volatile world.
Will Labour contain the chaos before the country pays the price? Of course not.
The lunatics are taking over the asylum while we watch on in horror.
told me this week that is ready for government.
He’d better be right, because he could be stepping through the door at No10 even sooner than he imagined.
King Charles made a spectacular effort to repair the Special Relationship in America Credit: AFP
CONGRATULATIONS, .
At least someone is fixing our problems.
After His Maj’s spectacular efforts to repair the Special Relationship in America last week, our very own Commander in Chief of British Forces is following up with some hardware.
I can reveal the Red Arrows will be front and centre for America’s 250th birthday party this July.
Our aerial acrobats will perform in no fewer than 13 flyovers across the States this summer.
On Independence Day – as the Yanks toast beating the Redcoats all those years ago – our red jets will be looping the loop overhead.
While such a display of both soft power and forgiveness is all very welcome, it is a fig-leaf covering the dire state of our military.
I’m told a multi-billion quid defence investment plan is still sitting on Sir Keir Starmer’s desk that will inject that cash directly into struggling UK small and medium-sized businesses.
For the love of God, please sign it before you vacate the building, PM.
Eze Chidiebere Paul
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