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

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.