Guido’s Adam Cherry asked Nigel Farage if Labour should immediately hold a general election if there is a change of PM. What with the mandate disappearing…
The Reform leader predicted things will come to a head after the May elections:
“I think that’s a very likely proposition… I do think Starmer will face a crisis, I do think the country will scream out for an election… we could argue that all the while they’ve got a majority they can soldier on, and the other factor in this is the state of the economy, and it’s much much worse than anyone believes… and so even if Andy Burnham thinks you can ignore the bond markets, sorry matey in reality you can’t. So there is a big crisis coming for this Labour government before too long.”
You thought Truss was chaotic…
Former Treasury minister and adviser to Burnham in the Makerfield campaign Lord Jim O’Neill, who has turned down a role in his government, said Burnham’s first statement Commons was:
“The last thing investors wanted to hear… gilt yields have risen by a 0.25% in one day, which is a lot. We’ve not had that since Liz Truss days… If your country is under the focus of ‘can they come up with a sensible fiscal strategy’ on a day when the markets think ‘well no, you’re not showing any sign of it’ you’re going to have a tough day…if it stays like this your mortgage rate is going up.”