UK PM Starmer resigns as Britain faces its seventh leader in 10 years

LONDON, ENGLAND - JUNE 22: Prime Minister Keir Starmer announces his resignation as UK Prime Minister and Leader of the Labour Party, outside No.10 Downing Street on June 22, 2026 in London, England. The prime minister had faced calls to announce a timeline for his departure from office ahead of an expected leadership challenge by Andy Burnham, who is re-entering parliament after his victory in the Makerfield by-election. (Photo by Peter Nicholls/Getty Images) Peter Nicholls | Getty Images News | Getty Images U.K. Prime Minister Keir Starmer announced Monday that he will stand down as Labour leader and prime minster, ending months of political turmoil and opening a contest to replace him. The announcement follows mounting pressure on the prime minister after Labour suffered heavy losses in local elections in May and faced an increasingly vocal rebellion from his own lawmakers over his leadership and policy agenda. The move comes less than two years after Starmer led Labour to one of its largest parliamentary majorities in the 2024 general election. In a statement outside 10 Downing Street shortly after 9:30 a.m. in London, Starmer said he would remain in post until any leadership contest is completed, which he said would help ensure an orderly handover of power. The pound was last seen 0.19% lower against the dollar, trading at $1.3207. The yield on 10-year U.K. government bonds , known as Gilts, were flat early Monday at 4.8452%. …