Cabinet loyalists have turned on UK PM Starmer in a growing backlash over his handling of the Mandelson scandal, with a senior Government source telling the Telegraph that the wheels have stopped turning in No. 10 and that there is a sense that it is over

The reported backlash against PM Starmer from his cabinet suggests increasing internal strife, which could destabilize his leadership. If this sentiment gains traction, it may lead to political uncertainty in the UK, impacting markets and encouraging cautious positioning in GBP and UK assets.