Overview
- Downing Street allies briefed late Tuesday that Keir Starmer would fight any leadership challenge and warned MPs such a move would be reckless and destabilising.
- No 10 sources suggested Wes Streeting had about 50 frontbenchers ready to resign if the 26 November budget lands badly, a claim Streeting called categorically untrue.
- Streeting ruled out demanding Starmer’s resignation after the budget and likened the speculation to conspiracy theories, saying the briefing culture was damaging.
- The 26 November budget, widely expected to feature tax rises that could breach manifesto pledges, is seen across Westminster as the immediate flashpoint, with May local elections also cited as a potential trigger.
- Labour rules require nominations from 20% of MPs — roughly 80 to 81 — to launch a formal contest, and some MPs and party figures criticised anonymous briefings as counterproductive, with Reuters noting market jitters on Wednesday.