Theresa May 199, Andrea Leadsom 84, Michael Gove 46 Gove eliminated and Leadsom drops out. May will be prime minister.

The Michael Gove betrayal gambit turns out all for nought. Ruthlessness has its electoral limits. So the next British Prime minister will be a woman, Theresa May. How long she can keep the job without calling an election remains to be seen.It is also unclear to what extent she will follow the policies of George Osborne with respect to austerity and anti deficit hysteria.

In the opposition Labour party in the meantime chaotic self imposed disintegration has set in with the announcement of a challenge to the democratically elected leader Jeremy Corbyn by one of the MPs who was formerly in Corbyn’s shadow cabinet. Angela Eagle who previously had served in the cabinet of Gordon Brown as pensions minister and who voted for the Iraq war has launched the challenge to Corbyn on behalf of the rebels in the parliamentary party. She was an active campaigner on the remain side and is regarded as a soft left member of the PLP. Her sister is also an MP. Her support for the Iraq war in stark contrast to Corbyn’s refusal to vote for it will undoubtedly be an issue. The first hurdle Corbyn may have to overcome might be an attempt by the anti Corbynites to exclude his name from the ballot on account of his failure to get a sufficient number of MPs, 20 % of the party’s MPs and EU parliament MPS to back him. The union president of Unite who backs Corbyn Len McCluskey has stated that should the executive fail to include Corbyn on the ballot this act will split the party and yield a poisoned chalice to whomever the party chooses as leader. Labour’s hari kari would be complete.

Generally speaking people are very reluctant to vote for a party in the throes of civil war. They usually turn away from such parties in an election. The replace Corbyn coup will be seen in this way and is likely to be a bitter and divisive contest. The Iraq inquiry has severely damaged the Blairite wing of the party who seem to loath Corbyn. His very well reasoned critique of the Blair administrations mis-handling of the decision to go to war in Iraq backed up by the thorough report of the Chilcot Iraq inquiry is probably resented by them. But in the current state of British politics resentment is an unaffordable luxury.


About haroldchorneyeconomist

I am Professor of political economy at Concordia university in Montréal, Québec, Canada. I received my B.A.Hons (econ.&poli sci) from the University of Manitoba. I also completed my M.A. degree in economics there. Went on to spend two years at the London School of Economics as a Ph.D. student in economics and then completed my Ph.D. in political economy at the University of Toronto. Was named a John W.Dafoe fellow, a CMHC fellow and a Canada Council fellow. I also was named a Woodrow Wilson fellow in 1968 after completing my first class honours undergraduate degree. Worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. I also have worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. I have also been consulted by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. Members of the Government of France under the Presidency of Francois Mitterand discussed my work on public sector deficits. I have also run for elected office at the municipal level. I first began to write about quantitative easing as a useful policy option during the early 1980s.
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