🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Shares

Defeated Labour Party to announce new leader in September

Published 13/05/2015, 17:17
© Reuters. Britain's Shadow Business Secretary Chuka Umunna speaks during the annual Labour Party Conference in Brighton

LONDON (Reuters) - Britain's opposition Labour Party, which suffered a heavy election defeat last week, said on Wednesday it would announce its new leader on Sept. 12 after a process which has already triggered a battle to shift its political stance.

Ed Miliband, the previous leader, quit on Friday, saying he took responsibility for the rout which saw the party virtually wiped out in Scotland and fail to win key swing seats in England from Prime Minister David Cameron's victorious Conservatives.

Some in the party had favoured a quicker contest, fearing the risks of leaving the government without a strong opposition for several months. But others cautioned against rushing the decision over the party's future direction.

"The General Election saw the Labour Party suffer a serious defeat, and over the coming weeks we need an open and honest debate on the right way forward," Harriet Harman, the party's acting leader, said in a statement.

Miliband was seen to have steered the party leftwards in the last five years, prompting senior party figures, including former prime minister Tony Blair, to say it must return to the political centre ground if it is to win again.

© Reuters. Britain's Shadow Business Secretary Chuka Umunna speaks during the annual Labour Party Conference in Brighton

The party's business spokesman Chuka Umunna, one of two candidates to come forward so far, is the bookmakers' favourite. Home affairs spokeswoman Yvette Cooper and health spokesman Andy Burnham are also expected to run.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.