Business

Keir Starmer hails historic Labour victory as Conservatives sink to worst ever result

3 Mins read

Unlock the Editor’s Digest for free

Sir Keir Starmer has declared a historic Labour victory in Britain’s general election, urging the country to “walk into the morning” as he headed for a huge House of Commons majority of about 170 seats.

Outgoing prime minister Rishi Sunak conceded that his Conservative party had suffered a devastating defeat, with estimates that it is heading for its worst ever result after the Tory vote collapsed.

A national exit poll suggested Starmer’s Labour would win 410 House of Commons seats out of 650, with the Conservatives slumping to an estimated 131 seats.

Starmer will formally become Britain’s new prime minister later on Friday. At 5am he told party activists at London’s Tate Modern: “We can look forward again. Walk into the morning — the sunlight of hope, pale at first, but getting stronger through the day.”

At 4.54am Labour passed the 325-seat winning post. Labour’s performance is a personal triumph for Starmer, who became party leader in 2020 after the party’s worst postwar election defeat. His projected victory is similar in scale to Sir Tony Blair’s 1997 Labour landslide.

But the party’s success was forecast to be delivered on a smaller vote share than the 40 per cent secured by leftwing Labour leader Jeremy Corbyn in his 2017 general election defeat.

Turnout was on course to be about 60 per cent, close to a record low, suggesting general public dissatisfaction with mainstream politics, and the Tories lost ground to Reform UK, the populist party whose leader Nigel Farage won a parliamentary seat at his eighth attempt.

Speaking at his count in Clacton, Farage said his party would come second in swaths of seats as well as securing a “bridgehead” in parliament, adding: “This is the start of something that is going to stun all of you.”

Starmer admitted that he faced an immediate task of reconnecting mainstream politics to voters. “The fight for trust is the battle that defines our age,” he said.

At 5.20am, Labour had won 358 seats, the Conservatives 75, the Liberal Democrats 47 and Reform UK four.

According to the exit survey, the centrist Lib Dems were on course to win 61 seats, close to the party’s modern-era 62-seat record in 2005, making big gains in the Tory “blue wall” of well-heeled seats in the south of England.

The Scottish National party was set to come behind Labour in Scotland with just 10 seats, according to the exit poll, delivering a hammer blow to the party’s dream of securing independence.

The results confirmed the overwhelming sentiment reported by candidates from all parties that Britain wanted “change”. Outgoing chancellor Jeremy Hunt, who narrowly held his own Surrey seat, called it a “crushing defeat”.

But Hunt added that Starmer and shadow chancellor Rachel Reeves were “decent people and committed public servants who have changed the Labour party for the better”. He urged them to reform the NHS, adding Labour might be better placed than the Tories to achieve that goal.

Grant Shapps, defence secretary, Penny Mordaunt, Leader of the House of Commons, Gillian Keegan, education secretary, Sir Jacob Rees-Mogg, former cabinet minister, and Alex Chalk, justice secretary, were among the high-profile Tory casualties on a night of Tory desolation.

Meanwhile Corbyn held his Islington North seat, standing as an Independent, while George Galloway, the leftwing pro-Palestinian MP for Rochdale, lost his seat to Labour.

Under 14 years of Conservative rule, five prime ministers presided over economic austerity, Brexit, a pandemic and an energy price shock, while frequently engaging in bouts of civil war. “We forgot a fundamental rule of politics,” Shapps said. “People don’t vote for divided parties.”

Starmer becomes only the seventh Labour prime minister in the party’s history, and his victory is the first since 2005 for the centre-left party. Labour last ousted the Tories from power in 1997.

He will move into 10 Downing Street on Friday and immediately form his cabinet, with an instruction to ministers to quickly deliver policies to jolt Britain out of its low-growth torpor.

The exit poll indicated that Starmer’s avowedly pro-business agenda had paid off, as Labour bucked international political trends. Far-right parties have performed strongly in recent European and French elections, while Donald Trump is leading in polls for the US presidential race.

Chancellor-in-waiting Reeves has said she hopes investors will now see the UK as a “safe haven”.

Starmer has promised to work with business to stimulate growth, with an agenda that includes planning reform and state investment in green technology. Labour will also pursue a traditional agenda of reforms to worker rights.

For Sunak, the result looks set to be a personal disaster. He chose to hold an early election — against the advice of his campaign chief Isaac Levido — and ran an error-strewn six-week attempt to turn around his party’s fortunes.

The party’s projected total of 131 seats is lower than the party’s worst-ever result of 156 in 1906. Starmer’s expected seat haul is close to the 418 seats won by Tony Blair in his 1997 landslide victory.

Defeats for Tory cabinet members including Shapps and Mordaunt has reduced the cast list of potential contenders for the party leadership if, as expected, Sunak stands down.

Read the full article here

Related posts
Business

US launches probe into Chinese semiconductor industry

2 Mins read
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world…
Business

Germany set to investigate warnings over Magdeburg attacker

3 Mins read
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The German…
Business

Saudi Arabia warned Germany about man held over Magdeburg attack

3 Mins read
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Saudi authorities…
Get The Latest News

Subscribe to get the top fintech and
finance news and updates.

Leave a Reply

Your email address will not be published. Required fields are marked *