This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.theguardian.com/politics/live/2016/jun/27/brexit-live-george-osborne-economy-corbyn-shadow-cabinet

The article has changed 33 times. There is an RSS feed of changes available.

Version 29 Version 30
Brexit live: Labour MPs to hold no-confidence vote in Jeremy Corbyn Brexit live: Labour MPs to hold no-confidence vote in Jeremy Corbyn
(35 minutes later)
12.10am BST
00:10
LabourList, the grassroots blog network, has joined the chorus of voices calling, if not for Corbyn’s departure, then at least for a new leadership election to quell the chaos within the party.
In an editorial released tonight, they say:
We cannot go on like this. It has been a devastating couple of days for the Labour Party in which it has lost a respected shadow Foreign Secretary, more than half the shadow Cabinet and some 34 shadow ministers in total. That was all before last night’s meeting of the PLP descended into a “brutal” row.
They continue:
Given that Corbyn has already pledged to stand in any leadership election, citing the “overwhelming mandate” he achieved last summer, it seems that a fresh poll would be the most straightforward – and perhaps the only – way to resolve this crisis.
Otherwise we are at an impasse. Several departing shadow Cabinet ministers have called on Corbyn to trigger a leadership election or, as Angela Eagle demanded, simply to “stand aside” because of a failure to “win the confidence” of voters and the public, but this will not happen anytime soon.
You can read the whole piece here.
12.01am BST
00:01
Following England football team manager Roy Hodgson’s resignation after that 2-1 defeat against Iceland, Reuters’ senior correspondent in Italy sums up the situation:
England has lost a prime minister, soccer manager, shadow cabinet and AAA rating in just 4 days. Surely something of a record.
11.51pm BST
23:51
Guardian columnist Owen Jones has shared his thoughts on the future of Labour in a post on Medium.
Responsibility for this calamity lies with the Conservative Party, not the Labour leadership. Jeremy Corbyn is being blamed for sins principally committed by others. It is remarkable, when you think about it. The left is accustomed to being savaged by the Conservatives for promoting policies that would cause economic chaos and threaten the future of the country. That’s what they claimed against the modest social democratic proposals of Ed Miliband at the last general election.
Look at what these people have now done to Britain. History may judge the Tory Brexiteers to be the architects of the most radical, and ruinous, proposition to be offered and (presumably) implemented in Britain since the war.
Launching a coup in the Labour Party at this moment has diverted attention away from those responsible for this national crisis — not least by staggering resignations to ensure Labour’s woes dominate the news cycle for as long as possible. The opposition has a crucial role right now in filling the vacuum and offering leadership and a plan for dealing with the coming turmoil. The nation’s crisis has been deepened as a consequence of this political paralysis.
It will now be harder to define the coming crisis as a Tory-created crisis. Choosing this moment to launch a coup — amidst all the grief and fear of the referendum result — will only accentuate the bitter divide that exists between the Labour grassroots and the Parliamentary Labour Party. Jeremy Corbyn’s most passionate supporters see a uniquely decent and honourable politician who is now under siege. The unfolding civil war between the two sides now threatens the very future existence of the Labour Party.
A formal split is being mooted involving the MPs effectively declaring unilateral independence. Mutterings about a leadership election in which Jeremy Corbyn is kept off the ballot paper would also guarantee a split. As far as I can tell, the rebels as things stand don’t seem to have a plan about what happens next. I don’t buy this is properly coordinated: it’s a kneejerk response if anything.
11.48pm BST
23:48
Will Straw, the executive director of Britain Stronger in Europe - the official Remain campaign - has attempted to make light of the situation with a possibly-slightly-too-soon football joke.
We did warn that if Brexit happened England would go out to Iceland.
11.39pm BST11.39pm BST
23:3923:39
Asked today by Northern Ireland’s deputy first minister how she was,on the first day of a two-day royal visit, the Queen replied “well, I’m still alive anyway.”Asked today by Northern Ireland’s deputy first minister how she was,on the first day of a two-day royal visit, the Queen replied “well, I’m still alive anyway.”
ITV News tweeted the video:ITV News tweeted the video:
Asked by Northern Ireland's Deputy First Minister how she is, the Queen replies: 'Well I'm still alive'https://t.co/9Q9YPTYsZlAsked by Northern Ireland's Deputy First Minister how she is, the Queen replies: 'Well I'm still alive'https://t.co/9Q9YPTYsZl
11.34pm BST11.34pm BST
23:3423:34
Fabian Picardo, the first minister of the territory of Gibraltar, is in talks with Nicola Sturgeon of the Scottish National Party about “various options” to keep at least parts of the UK in the EU, the BBC is reporting.Fabian Picardo, the first minister of the territory of Gibraltar, is in talks with Nicola Sturgeon of the Scottish National Party about “various options” to keep at least parts of the UK in the EU, the BBC is reporting.
“I can imagine a situation where some parts of what is today the member state United Kingdom are stripped out and others remain,” Picardo told Newsnight.“I can imagine a situation where some parts of what is today the member state United Kingdom are stripped out and others remain,” Picardo told Newsnight.
Northern Ireland is also potentially involved in discussions, according to the BBC.Northern Ireland is also potentially involved in discussions, according to the BBC.
11.29pm BST11.29pm BST
23:2923:29
George Osborne formally rules himself out of leadership raceGeorge Osborne formally rules himself out of leadership race
In an op-ed in the Times the chancellor of the exchequer says that he is “not the person to provide the unity my party needs at this time.”In an op-ed in the Times the chancellor of the exchequer says that he is “not the person to provide the unity my party needs at this time.”
George Osborne in tomorrow's Times confirms he won't be a candidate to lead his party pic.twitter.com/bMkTM3I1INGeorge Osborne in tomorrow's Times confirms he won't be a candidate to lead his party pic.twitter.com/bMkTM3I1IN
11.24pm BST11.24pm BST
23:2423:24
Senior figures in the Scottish Labour party are investigating proposals for Scotland and Northern Ireland to have separate federated membership of the EU after last week’s Brexit vote, write Severin Carrell in Edinburgh and Jennifer Rankin in Brussels.Senior figures in the Scottish Labour party are investigating proposals for Scotland and Northern Ireland to have separate federated membership of the EU after last week’s Brexit vote, write Severin Carrell in Edinburgh and Jennifer Rankin in Brussels.
Senior party sources have told the Guardian that the former Labour lord chancellor and justice secretary Charlie Falconer is consulting constitutional lawyers on whether a new federal relationship would be a legally sound alternative route to a full divorce between the EU and all parts of the UK.Senior party sources have told the Guardian that the former Labour lord chancellor and justice secretary Charlie Falconer is consulting constitutional lawyers on whether a new federal relationship would be a legally sound alternative route to a full divorce between the EU and all parts of the UK.
The initiative was launched on Friday, hours after it emerged that Scotland and Northern Ireland had voted comprehensively against leaving the EU, and was agreed with by Ian Murray, the then shadow Scottish secretary, and Kezia Dugdale, the Scottish Labour leader.The initiative was launched on Friday, hours after it emerged that Scotland and Northern Ireland had voted comprehensively against leaving the EU, and was agreed with by Ian Murray, the then shadow Scottish secretary, and Kezia Dugdale, the Scottish Labour leader.
Party sources said Lord Falconer’s work would focus on a possible federal deal where each devolved region could negotiate their own membership of the EU, while staying in the UK.Party sources said Lord Falconer’s work would focus on a possible federal deal where each devolved region could negotiate their own membership of the EU, while staying in the UK.
You can read the whole piece here.You can read the whole piece here.
11.13pm BST11.13pm BST
23:1323:13
A round-up of tomorrow’s front pages shows just how much happened today.A round-up of tomorrow’s front pages shows just how much happened today.
The Financial Times focuses on the market chaos caused by the Brexit vote:The Financial Times focuses on the market chaos caused by the Brexit vote:
Tuesday's FT:Sterling and bank stocks hammered as Cameron seeks to calm markets#Tomorrowspaperstoday #bbcpapers pic.twitter.com/kTDrhyiYPiTuesday's FT:Sterling and bank stocks hammered as Cameron seeks to calm markets#Tomorrowspaperstoday #bbcpapers pic.twitter.com/kTDrhyiYPi
The Telegraph focuses on Jeremy Hunt’s call for a second referendum:The Telegraph focuses on Jeremy Hunt’s call for a second referendum:
Tuesday's Telegraph front page:Hunt's call for second referendum on EU deal#Tomorrowspaperstoday #bbcpapers pic.twitter.com/UD2lRcfAgyTuesday's Telegraph front page:Hunt's call for second referendum on EU deal#Tomorrowspaperstoday #bbcpapers pic.twitter.com/UD2lRcfAgy
The Express, the Times, and the i zero in on the competition to replace David Cameron as Conservative leader and Prime Minister:The Express, the Times, and the i zero in on the competition to replace David Cameron as Conservative leader and Prime Minister:
Tuesday's Daily Express -Boris for PM: Yes say 80%#Tomorrowspaperstoday #bbcpapers pic.twitter.com/JXzr5nQUAJTuesday's Daily Express -Boris for PM: Yes say 80%#Tomorrowspaperstoday #bbcpapers pic.twitter.com/JXzr5nQUAJ
Tuesday's Times front page:May is Tory favourite after surge in support#Tomorrowspaperstoday #bbcpapers pic.twitter.com/pFkfZgfczCTuesday's Times front page:May is Tory favourite after surge in support#Tomorrowspaperstoday #bbcpapers pic.twitter.com/pFkfZgfczC
Tuesday's i front pageBoris: PM in 9 weeks…unless Tories can unite around a rival #Tomorrowspaperstoday #bbcpapers pic.twitter.com/uPPEn1kHjTTuesday's i front pageBoris: PM in 9 weeks…unless Tories can unite around a rival #Tomorrowspaperstoday #bbcpapers pic.twitter.com/uPPEn1kHjT
The Mail, on the other hand, focuses on Labour’s woes:The Mail, on the other hand, focuses on Labour’s woes:
Tuesday's Daily Mail:Labour tears itself apart#Tomorrowspaperstoday #bbcpapers pic.twitter.com/pMrM2gBZTXTuesday's Daily Mail:Labour tears itself apart#Tomorrowspaperstoday #bbcpapers pic.twitter.com/pMrM2gBZTX
And the International New York Times asks simply “When? How? Really?”And the International New York Times asks simply “When? How? Really?”
Tuesday's International NY Times:Questions for U.K.: When? How? Really?#Tomorrowspaperstoday #bbcpapers #EUref pic.twitter.com/1TT4QiRdZeTuesday's International NY Times:Questions for U.K.: When? How? Really?#Tomorrowspaperstoday #bbcpapers #EUref pic.twitter.com/1TT4QiRdZe
11.04pm BST11.04pm BST
23:0423:04
Dan RobertsDan Roberts
If Boris Johnson could, with a squint, be seen as Britain’s answer to Donald Trump, then Jeremy Corbyn – the opposition leader at heart of a post-Brexit revolt in the Labour party – is best explained in an American context by comparison to Bernie Sanders, writes the Guardian’s Washington bureau chief Dan Roberts.If Boris Johnson could, with a squint, be seen as Britain’s answer to Donald Trump, then Jeremy Corbyn – the opposition leader at heart of a post-Brexit revolt in the Labour party – is best explained in an American context by comparison to Bernie Sanders, writes the Guardian’s Washington bureau chief Dan Roberts.
To their supporters, both aging socialists represent the modern face of an anti-establishment uprising. With their focus on those forgotten by globalization, they may be drawing on the same resentment that fuels Trump and the campaign for Britain to leave the European Union, but purport to offer hope, not anti-immigrant hatred, as a response.To their supporters, both aging socialists represent the modern face of an anti-establishment uprising. With their focus on those forgotten by globalization, they may be drawing on the same resentment that fuels Trump and the campaign for Britain to leave the European Union, but purport to offer hope, not anti-immigrant hatred, as a response.
To their critics, particularly among Democratic and Labour party leaders, Corbyn and Sanders also share a dangerous stubborn streak. By refusing to compromise their beliefs, these cantankerous old class-warriors risk are splitting the progressive majority at a time when it needs to be unified against the xenophobic populism of the right.To their critics, particularly among Democratic and Labour party leaders, Corbyn and Sanders also share a dangerous stubborn streak. By refusing to compromise their beliefs, these cantankerous old class-warriors risk are splitting the progressive majority at a time when it needs to be unified against the xenophobic populism of the right.
You can read the whole piece here.You can read the whole piece here.
10.52pm BST10.52pm BST
22:5222:52
Bitterness, black humour, and schadenfreude all present in this succinct tweet by Donald Tusk, a Polish politician and president of the European Council.Bitterness, black humour, and schadenfreude all present in this succinct tweet by Donald Tusk, a Polish politician and president of the European Council.
UK-Iceland 1-2. Winter is coming.UK-Iceland 1-2. Winter is coming.
UpdatedUpdated
at 10.53pm BSTat 10.53pm BST
10.47pm BST10.47pm BST
22:4722:47
Be careful what you wish for. So explains the Brexiteer and Sun columnist Kelvin MacKenzie on why, four days on, he has buyer’s remorse over his vote to leave, write Karen McVeigh and Carmen Fishwick.Be careful what you wish for. So explains the Brexiteer and Sun columnist Kelvin MacKenzie on why, four days on, he has buyer’s remorse over his vote to leave, write Karen McVeigh and Carmen Fishwick.
MacKenzie may be the one of highest-profile figures so far to publicly admit regret over his vote, but he is not alone.MacKenzie may be the one of highest-profile figures so far to publicly admit regret over his vote, but he is not alone.
Hashtags such as #Bregret #Bregretters and #Bregreter have sprung up on social media, while a poll by Survation for the Mail on Sunday found 7.1% of leave voters expressed regret over their decision, compared with 4.4% of remain voters.Hashtags such as #Bregret #Bregretters and #Bregreter have sprung up on social media, while a poll by Survation for the Mail on Sunday found 7.1% of leave voters expressed regret over their decision, compared with 4.4% of remain voters.
MacKenzie, in his column on Monday, described the “surge” he felt when he voted leave, “as though for the first time in my life my vote did count. I had power.”MacKenzie, in his column on Monday, described the “surge” he felt when he voted leave, “as though for the first time in my life my vote did count. I had power.”
But he said on Monday: “Four days later, I don’t feel quite the same. I’ve buyer’s remorse. A sense of be careful what you wish for. To be truthful, I am fearful of what lies ahead.”But he said on Monday: “Four days later, I don’t feel quite the same. I’ve buyer’s remorse. A sense of be careful what you wish for. To be truthful, I am fearful of what lies ahead.”
Karen and Carmen spoke to Adrian Cook, 46, a clinical researcher from Sheffield who voted leave as a protest vote, said he was now “so ashamed” of what he had done that he had issued an emotional apology to his wife and children.Karen and Carmen spoke to Adrian Cook, 46, a clinical researcher from Sheffield who voted leave as a protest vote, said he was now “so ashamed” of what he had done that he had issued an emotional apology to his wife and children.
Yes, I regret it. When I heard the result I should be elated but I immediately thought this is a massive cockup what have we done. I just thought my protest vote would give Cameron a kick up the trousers.Yes, I regret it. When I heard the result I should be elated but I immediately thought this is a massive cockup what have we done. I just thought my protest vote would give Cameron a kick up the trousers.
I voted early on Thursday not even thinking about it, I was that convinced. Me and my wife have had a series of heated debates. I’ve mostly been reiterating things I’d heard on the TV.I voted early on Thursday not even thinking about it, I was that convinced. Me and my wife have had a series of heated debates. I’ve mostly been reiterating things I’d heard on the TV.
It was stupidity on my part. We’re told how badly off we are, how we need austerity and cutting local services and Brussels don’t do much for the man on the street.It was stupidity on my part. We’re told how badly off we are, how we need austerity and cutting local services and Brussels don’t do much for the man on the street.
You can read the whole piece here.You can read the whole piece here.
10.42pm BST10.42pm BST
22:4222:42
The Guardian’s front page for tomorrow: Battle lines drawn to replace PMThe Guardian’s front page for tomorrow: Battle lines drawn to replace PM
Tuesday's Guardian front page:Battle lines drawn to replace PM #Tomorrowspaperstoday #bbcpapers pic.twitter.com/HbTpR08JfYTuesday's Guardian front page:Battle lines drawn to replace PM #Tomorrowspaperstoday #bbcpapers pic.twitter.com/HbTpR08JfY
10.34pm BST
22:34
Sam Thielman
More detail from my colleague Sam Thielman in New York on the shock experienced by the US stock markets as the reverberations of Britain’s vote to leave the EU continue to echo.
Since the results became known on Thursday, the major US markets have suffered their biggest two-day fall in 10 months, Sam writes.
Monday’s dips came as the pound collapsed to its lowest point since 1985 and the UK lost its triple-A credit rating.
The Dow Jones Industrial Average finished the day down 260 points, or 1.5%, the S&P 500 dropped 1.8%, and the technology-heavy Nasdaq ended the day 2.5% down as the sell-off sparked by the Brexit vote in the UK continued to reverberate through the American market.
While many Americans have had trouble wrapping their heads around Brexit, the term is now dominating headlines in the US as it is in the UK and the impact of the vote has been affecting US assets. US government-issued bonds and gold both continued to climb: the online gold sales website BullionVault said it had liquidated a quarter-ton of gold since the vote went through.
Sam spoke to Ryan Sweet of the ratings agency Moody’s, who said that trouble would likely not do lasting damage to the US economy, though he did say equities “are likely going to have a rough few days.”
You can read the whole piece here.
10.22pm BST
22:22
The situation with the UK’s national and local Young Labour societies is becoming more fraught. As many commenters have pointed out, the London Young Labour committee acted unilaterally in condemning Jeremy Corbyn in the statement they released earlier this evening.
The official position of the national Young Labour organization is that they still support the Labour leader, according to their Facebook account, where the latest statement - from Sunday - reads:
The one certainty is that we as the Young Labour National Committee have full confidence in Jeremy Corbyn to continue to lead the Labour Party through these uncertainties. We are reassured by his decades of integrity and service, when it is obvious that so many do not trust politicians.
Lauren Gilmour, the Scotland rep for the organization, sent the Guardian a statement which she said had been passed by a majority of the national Young Labour committee. The statement says that “The calls for Corbyn to go have been vastly over-exaggerated by a hostile media, and by a minority within our party. Antagonism to Corbyn is largely concentrated within the PLP, who do not compose the entirety of our movement.”
The statement hits out at London Young Labour, saying:
It is highly disappointing that the media has given an undue focus on fringe petitions and statements, whilst choosing not to cover the statements of representative bodies of the youth movement.
The LYL statement had not even been discussed on a committee level, in comparison to our statement which was.
What this indicates is that the media, far from representing debate across all wings of the party, has chosen to propagate a certain political position: Jeremy must go. The elected Young Labour National Committee must and should have all Labour mediums available to them to communicate the views of young members: that is the only way we can fulfil our duty to represent and fight for young members.
The bulk of the Labour youth movement is fully behind Jeremy Corbyn and is willing to fight to ensure that the democratic mandate he has been given is respected. Those who would spit in the face of the democratic will of ordinary members should be prepared to be faced with ordinary Labour members’ opposition to their brazen shenanigans.
But London is not the only local Young Labour organization to go rogue. In an email shared with the Guardian, Chiltern Young Labour emailed Corbyn’s office just after 8:30pm GMT imploring him to resign:
For the good of the party, for the good of the nation, for the good of the people it is time for you to step aside and allow wounds to heal. A party leader that cannot command the respect of the Parliamentarians is one who lacks leadership.
For the members of Chiltern Young Labour I implore you to do the honourable thing and resign now.
10.04pm BST
22:04
The decision to leave the EU continues to cause economic shockwaves
Here’s a quick round-up of what has happened.
9.52pm BST
21:52
Full time, and England have lost 2-1 to Iceland in a match which has taken on symbolic significance after the EU referendum.
Over on our match live-blog, Barry Glendinning calls England’s play “absolutely pathetic”.
#ENG v #ISL pic.twitter.com/yaYiAFWZdU
9.36pm BST
21:36
A picture of Corbyn speaking at the Momentum rally in Parliament Square.
Shadow Chancellor John McDonnell tweeted that there were 10,000 people there, though others have disputed that figure.
Don't agree. I reckon 2,000 tops. I was there too. https://t.co/qxFUWmmOpK
Many are also pointing out that the crowd appeared to be composed more of Socialist Workers’ Party members than Labour members.
Seems like most of the people at the #KeepCorbyn rally in London are from the AWL and SWP rather than Labour pic.twitter.com/aHyIJkhfFs
9.25pm BST
21:25
Nigel Farage, meanwhile, has just gone on Fox News to criticise president Barack Obama, who came out strongly in favour of the “remain” camp.
"Vladimir Putin behaved in a more statesman-like manner in this referendum than President Obama did" -- @Nigel_Farage on @FoxNews
9.12pm BST
21:12
Fitch becomes the third ratings agency to downgrade UK credit
The agency just announced in a press release that it was downgrading the UK from an AA+ rating to an AA rating.
“The UK vote to leave the European Union in the referendum on 23 June will have a negative impact on the UK economy, public finances and political continuity,” the release said.
Fitch believes that uncertainty following the referendum outcome will induce an abrupt slowdown in short-term GDP growth, as businesses defer investment and consider changes to the legal and regulatory environment.
While recognising the uncertainty of the extent of the negative shock, Fitch has revised down its forecast for real GDP growth to 1.6% in 2016 (from 1.9%), 0.9% in 2017 and 0.9% in 2018 (both from 2.0% respectively), leaving the level of real GDP a cumulative 2.3% lower in 2018 than in its prior ‘Remain’ base case.
Part of the decision was that the EU referendum “makes a second referendum on Scottish independence more probable in the short to medium term,” the release said.
9.01pm BST
21:01
Politico has published an inside account of the PLP meeting this evening in which, they say, Corbyn “fought for his political life.”
In notes from an MP who was inside the meeting, they say that Alan Johnson MP said “I fought the [EU referendum] campaign and I take my responsibility, but you’ve got to take yours. Your office did not even turn up for the weekly meetings.”
Other MPs who took the floor in the meeting and told Corbyn he had to go, Politico says, include Margaret Hodge, Chris Bryant, Ian Murray, Helen Goodman, Ivan Lewis, Clive Efford and Bridget Phillipson.
You can read the whole piece here.
8.49pm BST
20:49
One of the most alarming effects of the EU referendum has been the rise in racially-charged attacks across the country over the weekend.
In utter shock: just been called p**i in my home town! Haven't heard that word here since the 80s..!
Figures on Monday suggested a 57% increase in hate crimes and abuse.
Suspected racist graffiti was found on the front entrance of the Polish Social and Cultural Association (POSK) in Hammersmith early on Sunday morning, and the Metropolitan Police is reportedly on high alert.
“In the past few days we have seen despicable graffiti daubed on a Polish community centre, we’ve seen verbal abuse hurled against individuals because they are members of ethnic minorities,” David Cameron said earlier today.
“Let’s remember these people have come here and made a wonderful contribution to our country. We will not stand for hate crime or these kinds of attacks, they must be stamped out.”
A police source told the Guardian that it was “no coincidence” that the increase came off the back of the EU vote.
8.40pm BST
20:40
Jeremy Corbyn has lost the support of London Youth Labour, perhaps fairly unsurprisingly given the events of the last week.
In a statement posted to their website and signed by the group’s executive committee, the organisation says:
Not only did Jeremy Corbyn fail to deliver passionate Labour messages about staying in the EU, he also refused to work with Britain Stronger In Europe, despite polls showing this would turn out Labour votes.
Warnings were ignored, meetings cancelled and a desperately needed Labour message was lost.
This result will have effects on everyone, but especially the poorest in our society- for decades to come. These are the people we seek to protect as the Labour party, and we have failed – Jeremy Corbyn has failed.
It is for these reasons that we express no confidence in the Leader of the Labour Party, and hope London Labour MPs will consider young members’ views.
You can read the whole statement here.