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UK PM Starmer battles for political survival in pivotal speech as gilt yields rise

CNBC·Holly Ellyatt·21 days ago
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UK Prime Minister Keir Starmer speaks to media as he reacts to the local Council Election results at AFC Wimbledon on May 9, 2026 in London, England. Alishia Abodunde | Getty Images News | Getty Images British Prime Minister Keir Starmer vowed to "face up to the big challenges" facing the U.K. in a make-or-break speech on Monday, amid mounting pressure on his leadership. Starmer cited growth, national defense, the U.K.'s relationship with Europe and energy needs as key issues that must be tackled urgently, in an attempt to convince Labour Party colleagues to keep him in the job. "To meet the challenges that our country faces, incremental change won't cut it," he said, recognizing that "some people are frustrated with me" and acknowledging that he has "doubters." "I know I need to prove them wrong and I will," he told an audience of supporters. The speech comes after the ruling Labour Party suffered heavy local election losses last week. While the vote did not affect how the U.K.…

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