Starmer Crisis Shows UK Still Lives at Mercy of Bond Market

Global bond investors reminded Prime Minister Keir Starmer of a harsh truth of British politics: The market’s verdict can be swift and punishing.

Starmer’s ruling Labour Party started the day on a face-saving mission after its Members of Parliament forced it to scrap £5 billion ($6.8 billion) worth of cuts to welfare spending on Tuesday evening — making it even harder for Chancellor of the Exchequer Rachel Reeves to tame the government’s budget deficit.