Starmer Brushes Off Musk, But Is Haunted by UK Market Rout
Live MintKeir Starmer’s allies spy a silver lining at the end of a week dominated by Elon Musk’s interventions in British politics and global market turmoil that endangers the UK prime minister’s economic plans. While much of Westminster was preoccupied with the spectacle of Musk hurling insults at the premier, his ministers and policies, Starmer’s aides were growing increasingly concerned that a brutal bond selloff posed by far the bigger threat, with the potential to force Chancellor of the Exchequer Rachel Reeves into an unpopular round of spending cuts when the Office for Budget Responsibility updates its forecasts in March. Yet Musk’s efforts to destabilize Starmer appeared to backfire when he endorsed jailed far-right activist Tommy Robinson, a move that sparked a surprise fallout with Reform UK leader Nigel Farage, who until last Sunday had enjoyed the tech mogul’s backing. That was the moment to hit back, one said, as Starmer did on Monday when he said Musk’s invective aimed at one of his ministers had put them in danger and meant “a line had been crossed.” “This week saw the best of Keir as he was able to display a very British sense of calm and measured outrage,” said John McTernan, former adviser to Tony Blair and strategist for BCW Global.