Unlock Editor’s Digest for free
FT editor Roula Khalaf selects her favorite stories in this weekly newspaper.
Independent MP Andrew Gwynne is to retire from Parliament, creating an opportunity for Greater Manchester Mayor Andy Burnham to return to Westminster and challenge Sir Keir Starmer.
The Gorton and Denton MP, who was suspended by Labor after leaked WhatsApp messages almost a year ago, has agreed to step down, according to a person with knowledge of the matter.
His decision would mean a by-election in the Greater Manchester seat, which Gwynne won with a majority of 13,000 votes, in 2024.
It would also fuel speculation that Burnham, long seen as a potential challenger to Starmer’s premiership, could find his way back to Westminster.
The gilt market weakened on Thursday morning as investors responded to rising political risks, pushing the 10-year gilt yield up 0.04 percentage points to 4.50 per cent.
Fund managers are wary of Burnham, who has said the government should not be in a “shock” of bond markets, a sentiment he reiterated as recently as this week.
A number of high-profile Labor figures are believed to be exploring their chances as the next party leader, and therefore Prime Minister, given the party’s huge majority in the House of Commons.
Contenders are likely to include former Deputy Prime Minister Angela Rayner and Health Secretary Wes Streeting, as well as Burnham, who needs to be a serving Labor MP to lead the party.
Gwynne was suspended from Labor last February after leaked messages showed him insulting a constituent.
Since then, the Parliamentary Standards Commissioner has not confirmed what sanction, if any, will be imposed on him.
Gwynne did not immediately respond to a request for comment. His parliamentary office did not deny that he was leaving office.
Additional reporting by Ian Smith
