UK PM Keir Starmer defies resignation calls amid political turmoil and market jitters

London: Prime Minister Keir Starmer defied calls to resign on Tuesday, telling ministers he would “get on with governing” despite what he described as a “destabilising” 48 hours marked by growing demands for him to set out a timetable for his departure following a heavy election defeat.

At a meeting of his cabinet, Starmer, who has been in office for less than two years, reiterated that while he accepted responsibility for one of the Labour Party’s worst election defeats, there had been no official move to trigger a leadership contest.

“The past 48 hours have been destabilising for government, and that has a real economic cost for our country and for families,” Starmer told ministers, according to his Downing Street office.

“The country expects us to get on with governing. That is what I am doing and what we must do as a Cabinet.”

British government bonds rallied slightly following Starmer’s comments but remained firmly in negative territory for the day.

His defiance contrasts sharply with sentiment within the Labour Party.

On Tuesday, a junior minister resigned, joining several ministerial aides who have also left the government. More than 80 Labour lawmakers have publicly called for him to set a resignation date to allow the party to install a new leader in an orderly manner.

Starmer had sought to shore up his position on Monday by pledging to act more boldly and urgently to tackle Britain’s challenges.

He said the country would never forgive the Labour Party if it embarked on a leadership contest just two years after securing a large parliamentary majority, which had been expected to end the political instability following Britain’s vote to leave the European Union a decade ago.