LONDON, ENGLAND – MAY 9: Prime Minister Keir Starmer and Deputy Prime Minister David Lammy speaks to media reacts to the local Council Election results at AFC Wimbledon on May 9, 2026 in London, England. (Photo by Alishia Abodunde/Getty Images)
Alishia Abodunde | Getty Images News | Getty Images
U.K. Prime Minister Keir Starmer reiterated on Saturday that he plans to remain in office despite his ruling Labour Party suffering among its worst local election losses in decades.
«I’m not going to walk away and plunge the country into chaos,» Starmer told the BBC. «I think the right thing to do is to rebuild and show the path forward.»
The anti-immigration Reform U.K. party made sweeping gains in local councils in England, mainly at the expense of Labour, while the pro-independence Plaid Cymru party won the most seats in the Welsh parliament, overturning decades of Labour rule. The Scottish National Party took the most seats in Scotland’s devolved parliament.
Growth and living standards have stagnated in recent years, and Labour have faced growing public anger at the slow pace of economic reforms.
Calls among some Labour Party members for Starmer to step down grew louder on Saturday.
«I know I speak for more Labour people than just myself in wanting him to step aside as our Leader,» former minister Catherine West said in a post on X.
Bond vigilantes have closely watched Starmer’s fate in recent weeks.
On Friday, yields on benchmark 10-year U.K. government bonds, known as gilts, were 4 basis points lower at 4.904% by 1:27 p.m. in London, moving downward in response to Starmer’s insistence that he would not step down from his post.
The local election result will not affect the composition of parliament in Westminster or change who is in government, but reflects souring sentiment on Starmer’s leadership among the electorate.
SHEFFIELD, ENGLAND – JULY 01: Former Prime Minister and Multibank Founder Gordon Brown is seen during the two year anniversary event of the Homewards programme on July 01, 2025 in Sheffield, England. (Photo by Dominic Lipinski/Getty Images)
Dominic Lipinski | Getty Images Entertainment | Getty Images
Meanwhile, Starmer appointed former Prime Minster Gordon Brown as his Special Envoy on Global Finance and Cooperation on Saturday.
Brown was U.K. leader from 2007 to 2010, and finance minister from 1997 to 2007. He was widely credited with being key in shoring up the international banking system during the global financial crisis.
He will be tasked with developing new international finance partnerships that can support defense and security-related investment, including measures that underpin the UK’s relationship with Europe, the U.K. Cabinet Office told CNBC in a statement.
– CNBC’s Chloe Taylor contributed to this story.
