While the pressure is growing on the UK's Prime Minister Keir Starmer, he is pledging to rebuild after his Labour Party lost over 1000 local council seats across Europe in elections last week, but the party also lost power in Wales after 27 years, and a growing number of Labour members want Starmer to set a timeline for his departure for the p.m. role.
And today in London, Starmer unveiling a plan to launch a radical.
Steel plan centered on the full nationalization of British steel and through this plan Starmer is trying to reconnect with working class voters and save his premiership.
Well joining us to weigh in this morning is Patrick L.
Young, Chairman and founder of Exchange Invest.
Patrick, great to have you here.
Thank you so much for joining us.
Well, since 2019, the UK has had four different prime ministers.
So what do you make of what's unfolding right now and what do you think the implications are for Starmer?
Look, there's zero shock.
I mean, Keir Starmer was elected as an entirely incapable of Prime Minister.
The problem was the prime ministers he came before were so woeful from the other political parties, primarily the Conservative Party, that there was absolutely no reason whatsoever not to elect him in a landslide.
The difficulty is, he abjectly lacks any remote competence to do the job, which is why when he was elected July The 4th 2 years ago, I was able to say quite categorically he wouldn't last a full term.
Here we are.
He's on his last legs already.
He's lost the working class vote.
Think about that for a moment.
The Labour Socialist Party no longer has a core working class vote.
It has a vote of people who are vaguely pro-Palestine.
It is a vote of people who identify as all sorts of a cornucopia of things, but actually Normal working people, the backbone of society, what in America you would call the middle class, they've left the party.
They're no longer there.
That's why the Labor heartland, and that's what's important to understand, of Wales has managed to end up going against the Labour Party, which is ultimately, it's like losing the entire eastern seaboard and California if you're the Democratic Party.
Yes, and Patrick, I do want you to walk us through this.
So tell us what the growth of the Reform Party means.
Look, it's very simple.
The Reform Party have managed something miraculous.
They're the first truly national new party in the United Kingdom in essentially a century that has organized itself across the country.
Both last year's elections and this year's for local councils.
They have been effectively the leaders in both very different kinds of jurisdiction.
Reform are now the party that are on power, on course to be the government of the UK.
Starmer has 30 something MPs already saying that they want him to stand down.
Once that reaches 80 MPs, there's going to be an election for someone else.
The question is simply who might stand from the Labour Party in order to challenge him at the moment rather than whether there will be a challenge.
Now, Nigel Farage, he is the most Marmite person in British politics in many ways, but at the same time, he is the Only man who's actually changed the destiny of the UK currently involved in the UK political system.
He was the man behind Brexit.
He delivered Brexit.
The Brexit voters are still with him, but more importantly, so is a vast coalition of the British working class who are fed up with the Conservative Party, the Labour Party, the Liberal Democrat Party, which we hear little of because none of them during their time in government have delivered anything.
And that's why Starmer laughably said today, oh my goodness, you can't.
Possibly have me leave government because there'll be a crisis.
What is he benchmarking against?
UK growth has collapsed.
It's 0.5%.
UK government borrowing costs are already multiple basis points higher than they are for anybody else in the G7, and they're at levels that we last saw last century, Remy.
That's why reform is now in the hot seat to become the next major governing party, even if it can't win an overall majority.
Patrick, I very quickly want to shift our focus on over to the Middle East.
So the ceasefire is still standing despite the US and Iran trading strikes last week.
So where do you think this conflict stands as oil prices do remain elevated and we are looking at a move higher this morning.
So what do you expect will unfold in the coming weeks?
Look, I mean, the Iranian IRGC, the Revolutionary Guard council, are in somewhat of a similar position to Keir Starmer except they actually control the economy of Iran.
They are ultimately going to be out of power.
They're going to lose all of their influence, and they are going to be completely and utterly defeated if they give too much away.
The difficulty is ultimately they risk being absolutely.
Annihilated by Donald Trump.
So therefore they're prevaricating, trying to keep things going while they desperately try and find a way to save face and stay in power.
It's not going to happen.
It's simply a question of how long they want to waste time until they do, because let's face it, they have nowhere else to pump their oil to anymore, and that means the economy is about to go south big time.
And Patrick, finally, before I let you go, Trump is set to meet with China's Xi Jinping later this week, and one of the most pressing issues could be the war with Iran as Trump wants to cut China's ties to Iran.
So what is your take before we see this gathering between Trump and Xi Jinping this week.
China was obviously deeply shocked over the course of the weekend when somebody, one of the idiots on the front line in Iran, actually managed to fire a missile at one of the Chinese carriers that was trying to get through the Strait of Hormuz.
That shows us what the anarchy is.
Ultimately, does China really wake up in the morning, Hanna a great deal in common with the Islamic fundamentalist mullahs of Tehran.
Of course it doesn't.
What China needs is oil.
What China needs is minerals.
What China needs. is to be able to keep powering its economy.
What's worrying China at the moment is actually youth unemployment, managing to maintain everything going within China and ensure that a vital shipping way is kept open.
In that sense, there is a very clear area for China and Trump to have common areas of discussion because at the moment the Strait of Hormuz is hitting the rest of the world a lot harder than it's hitting the USA and acutely it's hitting China.
And Patrick, less than 60 seconds here, but I do want to get your take on top health officials stressing that there's no reason that the public should fear a had a virus outbreak.
But what is your take on this?
Very, very simple, Rey.
We are in that interesting aphorism.
I'm going to call it CO 22.
The problem is the World Health Organization have come out and said there's nothing to worry about, nothing to be a crisis here.
Actually this time round they're almost certainly right.
The difficulty is the last time around they came out and told us there was nothing to worry about, and that was COVID, and they were completely wrong.
They were lying through their teeth.
That's the problem.
Ultimately people don't trust the blob just like in the UK.
Well Patrick, we will have to leave it there for today, but as always great talking to you.
Thank you so much for joining us and thank you so much for sharing all of your perspective.
