First Insights: UK: Coronation Street

Research evidence excerpt

First Insights: UK: Coronation Street

Global Markets Research

22 June 2026First Insights

Economics - Global

Research Analysts

UK: Coronation Street European Economics

George Buckley - NIplc

• FollowingKeirStarmer’sresignationthismorning,AndyBurnhamlookssetto george.buckley@nomura.com

becomePMinanuncontestedelectionbymid-July.Thefocusnowturnstohispublic +44 (0) 20 7102 1800

commentsandchoiceofChancellor. Andrzej Szczepaniak - NIplc

andrzej.szczepaniak@nomura.com

• Burnham’splansforthepublicfinanceswillbearthemostscrutiny,inparticular +44 (0) 20 7102 3167

whetherheretainsthecurrentfiscaltargetsandwhetherhemeetstheinevitable Josie Anderson - NIplc

increaseinstateinterventionwithhighertaxesorhigherborrowing. josie.anderson@nomura.com

+44 (0) 20 7102 4284

• ThepathofGBPmaydependmoreontheBoEoutlookthanonBurnham,buttail Global FX Strategy

risksremainintheformoftweakstofiscalrulesorhighertaxes. Dominic Bunning - NIplc

dominic.bunning@nomura.com

+44 (0) 20 7102 4063

Falling Star(mer)

UK Prime Minister Keir Starmer this morning announced his resignation amid huge Global Economics

pressure for him to go following Andy Burnham’s election as an MP in last week’s decisive David Seif - NSI

by-election. The scale of Mr Burnham’s win in Makerfield (receiving 55% of votes cast) david.seif@nomura.com

+1 212 667 9180also likely played a role in the speed of the PM’s decision to quit.

In his resignation announcement, Starmer said that nominations for the Labour leadership

contest would be open from 9 July, with the aim that a new leader/PM can be installed by

the time parliament returns from the summer break on 1 September (and crucially giving

the new leader time to prepare for the party conference in Liverpool 27-30 September).