US President Donald Trump rolled into Britain on Tuesday night, his second state visit as President, to bask in the adulation of PM Keir Starmer and having his massive ego massaged by the monarchy.
Starmer is prostrating himself before Trump at a time when his leadership and the entire government is collapsing as a massive political crisis has erupted.
Yesterday the i-newspaper reported that at least five Labour MPs have told party whips that they have no confidence in Keir Starmer as prime minister.
As the paper observes, the fact that MPs are now telling whips that Starmer should go is a clear indication of the crisis confronting the Labour leader.
One Labour MP told the paper there is a ‘pervading sense of doom and gloom’ and that it’s a case of ‘when, not if, he is replaced’.
Labour MPs are not the only ones panicking.
Yesterday, it was reported across the media that international investors are dumping shares in UK companies at the fastest rate since 2004.
The Daily Telegraph published the results of a survey by the Bank of America of 165 international fund managers under the headline ‘UK stocks dumped at fastest pace in 20 years ahead of “terrifying” Budget’.
The Telegraph quoted Hugh Sergeant, a fund manager at River Global Investors, saying: ‘Investors are currently terrified of this government, and particularly the next Budget.’
Elyas Galou, investment strategist at the Bank of America, said: ‘UK assets are the most unloved assets right now. Investors are now almost considering the UK as if it were an emerging economy.’
Galou added that the UK was out of favour because the capitalist financial managers were worried about the ‘weak fiscal outlook’ and a ‘very unpopular government’.
What is terrifying the capitalist financial markets is that Starmer’s Labour government is almost universally hated and despised by the workers and youth.
Starmer’s personal popularity rating dropped to -40% in the latest Opinion poll and the recent scandals that have resulted in sacking his deputy Angela Rayner and US ambassador Peter Mandelson will send it plummeting even further.
Back in May, chancellor Rachel Reeves declared that the government must ‘get a grip’ on the spending on welfare and benefits, but when she attempted to slash the welfare bill, by ending benefits to the disabled and sick, Starmer was forced by a rebellion of Labour MPs to retreat.
Now Reeves faces coming up with a Budget in November to make savings required to cover the £40 billion ‘hole’ in the UK economy that she has claimed must be dealt with, to even attempt to deal with a national debt fast approaching £3 trillion or nearly 100% of GDP (the total wealth produced by the UK).
The international capitalist financial managers are ‘terrified’ that the Labour government is too weak to impose the savage cuts demanded by them, to dump this crisis on the working class by smashing the welfare state.
Labour MPs are equally terrified that any attempts by a discredited and reviled Starmer government to inflict this pain on workers will lead to a revolutionary confrontation with a powerful working class, that has shown its determination not to sacrifice its future in order to keep bankrupt British capitalism from collapse.
Meanwhile, the TUC leadership maintains complete silence as the Starmer government disintegrates and the capitalist class increasingly turns to the formation of a national government to rescue British capitalism from bankruptcy and recession, by dumping the crisis on the backs of the working class.
The TUC leadership has refused to organise any action against the Starmer government and in defence of workers and all the gains of the welfare state.
These leaders must be removed and replaced with a new leadership prepared to mobilise the strength of the working class in a general strike, to bring down the Labour government and bring in a Workers Government that will nationalise the banks and major industries under the control of the working class, building a socialist planned economy.
This is the only way forward!
