{"id":663,"date":"2026-05-12T07:44:34","date_gmt":"2026-05-12T07:44:34","guid":{"rendered":"https:\/\/usglobalnews.com\/?p=663"},"modified":"2026-05-12T07:44:34","modified_gmt":"2026-05-12T07:44:34","slug":"uk-borrowing-costs-jump-and-pound-falls-as-starmer-faces-pressure-to-stand-down-business-live","status":"publish","type":"post","link":"https:\/\/usglobalnews.com\/?p=663","title":{"rendered":"UK borrowing costs jump and pound falls as Starmer faces pressure to stand down \u2013 business live"},"content":{"rendered":"<p>Rolling coverage of the latest economic and financial news<\/p>\n<ul>\n<li>\n<p><a href=\"https:\/\/www.theguardian.com\/politics\/live\/2026\/may\/12\/keir-starmer-prime-minister-resignation-labour-leadership-cabinet-meeting-yvette-cooper-shabana-mahmood-andy-burnham-wes-streeting-uk-politics-latest-news-updates\"><strong>Politics Live: Minister says Starmer is \u2018listening\u2019 but refuses to say if PM will stay on ahead of critical cabinet meeting<\/strong><\/a><\/p>\n<\/li>\n<li>\n<p><a href=\"https:\/\/www.theguardian.com\/politics\/2026\/may\/11\/more-than-60-labour-mps-call-on-starmer-to-set-timetable-to-quit\">Starmer on the brink as cabinet ministers urge him to quit<\/a><\/p>\n<\/li>\n<\/ul>\n<p><\/p>\n<p>This morning\u2019s jump in UK borrowing costs comes after <strong>Darren Jones<\/strong>, the chief secretary to the PM, told broadcasters that <strong>Keir<\/strong> <strong>Starmer<\/strong> is \u2018listening to colleagues\u2019.<\/p>\n<p><strong>Jones<\/strong> told Sky News:<\/p>\n<p>I spoke to the prime minister last night, as you would expect, and he is talking to colleagues who have raised issues yesterday.<\/p>\n<p>But he was also very clear, as I\u2019m sure all of my colleagues are, that coming into the office this morning, as we all are doing, we\u2019re absolutely focussed on our jobs, on delivering the things that we\u2019ve promised to deliver for the public.<\/p>\n<p>So far the market moves have been relatively modest but are beginning to reflect building unease over the future of Prime Minister Keir Starmer who is facing growing pressure from within the Labour party to step down.<\/p>\n<p>Pressure intensified yesterday on Starmer after four ministerial aides quit the government saying they no longer believed he could tun things around.<\/p>\n<p>The latest developments increasingly look like the end of the road for Keir Stamer as prime minister. A leadership contest whether immediate or more drawn out will add to political uncertainty in the near-term which is negative for the pound and gilts. The risk of a bigger sell-off will increase if Labour shift towards the left.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/business\/live\/2026\/may\/12\/uk-bond-yields-borrowing-costs-pound-falls-oil-inflation-live-updates\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rolling coverage of the latest economic and financial news Politics Live: Minister says Starmer is \u2018listening\u2019 but refuses<\/p>\n","protected":false},"author":0,"featured_media":664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/usglobalnews.com\/index.php?rest_route=\/wp\/v2\/posts\/663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usglobalnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usglobalnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/usglobalnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=663"}],"version-history":[{"count":0,"href":"https:\/\/usglobalnews.com\/index.php?rest_route=\/wp\/v2\/posts\/663\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usglobalnews.com\/index.php?rest_route=\/wp\/v2\/media\/664"}],"wp:attachment":[{"href":"https:\/\/usglobalnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usglobalnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usglobalnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}