UK PM Starmer says he plans to remain in office despite crushing local elections defeat

U.K. Prime Minister Keir Starmer reiterated on Saturday that he plans to remain in office despite his ruling Labour Party suffering among its worst local election losses in decades. "I'm not going to walk away and plunge the country into chaos," Starmer told the BBC. "I think the right thing to do is to rebuild and show the path forward." The anti-immigration Reform U.K. party made sweeping gains in local councils in England, mainly at the expense of Labour, while the pro-independence Plaid Cymru party won the most seats in the Welsh parliament, overturning decades of Labour rule. The Scottish National Party took the most seats in Scotland's devolved parliament. Growth and living standards have stagnated in recent years, and Labour have faced growing public anger at the slow pace of economic reforms. Calls among some Labour Party members for Starmer to step down grew louder on Saturday. "I know I speak for more Labour people than just myself in wanting him to step aside as our Leader," former minister Catherine West said in a post on X. Bond vigilantes have closely watched Starmer's fate in recent weeks. On Friday, yields on benchmark 10-year U.K. government bonds, known as gilts, were 4 basis points lower at 4.904% by 1:27 p.m. in London, moving downward in response to Starmer's insistence that he would not step down from his post. The local election result will not affect the composition of parliament in Westminster or change who is in government, but reflects souring sentiment on Starmer's leadership among the electorate.