OT: News from Wales, Scotland and N. Ireland

When the Scottish and Welsh parliaments were created on the eve of the millennium, the then Labour government in Westminster believed that it had engineered a win-win situation. Devolution, it was hoped, would see off any nationalist threat in Scotland and Wales. Meanwhile, the Labour party’s longstanding political dominance in both nations would see it take comfortable control of the two new parliaments.

That was then. Last week’s devolved elections left Scottish and Welsh Labour battered, bruised and humiliated. Plaid Cymru’s historic victory in Wales, and a fifth successive triumph for the Scottish National party (SNP), mean that pro-independence governments are now set for the first time to rule in Edinburgh, Cardiff and Belfast (where Sinn Féin won in 2022). The starting gun has been fired on a new and constitutionally contested era in the politics of the UK.

The seismic nature of Plaid’s win is hard to overstate. The Labour party’s grip on Welsh politics has been more or less absolute for more than a century. Yet last Thursday, the outgoing Labour first minister, Eluned Morgan, was among those to lose her seat.

Anger and disillusionment with Sir Keir Starmer’s unhappy premiership, and with Welsh Labour’s own failings in areas such as health and education, led progressive voters to migrate en masse to the nationalist alternative. A vote for Plaid was also seen as the best way to stop Nigel Farage’s Reform UK, which nevertheless will now form the official opposition in the Senedd.

In Scotland, Anas Sarwar’s pre-election gamble in calling for Sir Keir to resign failed as Scottish Labour recorded its worst result since devolution. Mr Sarwar hoped to distance his party from the sinking Westminster mother ship. But similarly to England, many progressives opted for the Scottish Greens, and Reform picked up voters in Labour’s post-industrial former heartlands. In a fragmented landscape, the SNP cruised home with its lowest share of the constituency vote share since 2007.

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So, how long are the betting markets giving Starmer before he resigns?

DB2

There’s supposed to be an announcement on Monday.

But as every hour passes, it is more likely the UK will soon have its seventh prime minister in 10 years…The vow not to repeat the Conservatives’ habit of switching prime minister might be the last political promise Starmer breaks.

DB2

I don’t think it’s just Starmer’s resignation. At a minimum, Scotland and Northern Ireland need to be thinking about whether they want to remain aboard the UK’s sinking ship. Bringing back the racist Brexiteers will just make them take on more water.

intercst

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People in the US that would be labor, not progressives or liberals, are not happy. Same thing. The powers that be are happy with lower taxes on the rich.

The key question for investors is what the impact on the country’s finances will be if Burnham, a former minister, becomes premier as expected. He has so far offered little clarity on the policies he’d pursue, making it difficult to gauge the ramifications for future borrowing. Markets are nervous about any potential increase in bond sales to fund spending, given the UK is already struggling with its debt levels.

DB2

They continue to tell us EU tariffs have slowed UK exports. That has reduced GDP by 5 to 10%. Brexit voters hoped for trade deals w EU et al. They say politicians botched the negotiations. Major problem is slowing economy.

Can UK rejoin EU? Doubtful.

Recall Brexit voters was when Russia was using Internet, social media, etc to spread disinformation. Did Russian disinformation tip the balance? Should Brexit election be repeated?

Yes, fear of Scotland joining EU is still there. Will they take action?

Northern Ireland conflict remains to be resolved.

It is a good post up to this point. But the NI problem is resolved.