British Opposition Leader, Seeking Party Control, Sacks Dissenters

Britain’s opposition Labour leader Jeremy Corbyn has sacked his EU policy chief for disloyalty and moved his pro-nuclear defence spokeswoman to another job in an attempt to tighten control over his rebellious parliamentary party.

Corbyn, a veteran left-wing activist, was overwhelmingly elected party leader last year after tapping into a desire for change among grass-roots party members, including many new, younger recruits.

But his four-month tenure has deepened divisions between him and several of Labour’s leading lawmakers.

Members of his “shadow cabinet”, who hold portfolios mirroring those in government, had openly disagreed with him over foreign and defence policy – something that has hobbled the party’s ability to challenge the ruling Conservatives.

Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.