The week has begun with the huge news that the UK will be getting a new leader this summer. With the 10-year anniversary of the Brexit referendum also taking place tomorrow, this will be the UK's seventh post-Brexit prime minister.
That's not the only major event taking place in Westminster this week though, as the Chartered Institute of Export & International Trade hosts the fourth edition of the International Trade Awards on Thursday.
Starmer resigns
Prime minister Sir Keir Starmer has announced his resignation today (22 June), in an emotional speech that paid tribute to both his wife and children and the transformation the Labour Party has gone through during his leadership.
Starmer made the speech following the victory of Greater Manchester mayor Andy Burnham in the Makerfield by-election last week, citing pressure from within the Labour Party for another leader to take the party into the next general election.
After outlining his government’s achievements over the last two years – including new trade deals, a stabilising economy and around the NHS – Starmer said that a new leader would be in place before September and he would remain in place until his successor has been chosen.
Burnham has confirmed he is standing. Former health minister Wes Streeting, who resigned earlier this year to challenge Starmer, has now backed the Greater Manchester mayor.
The exact timeline, and who else can muster up the support necessary to stand, has yet to be confirmed, but the race is expected to start officially when nominations open on 9 July.
This week, the frontrunners to the job are set to begin their early skirmishing. Alongside Burnham, names like former deputy leader Angela Rayner and former defence minister Al Cairns are being floated as potential challengers.
Brexit anniversary
The turmoil comes ahead of the 10-year anniversary of the Brexit vote tomorrow (23 June).
The Business and Trade committee has released a report in advance of the date, nothing that while there has been initial enthusiasm for the Starmer government’s ‘reset’ in relations with the EU, this has waned somewhat.
“The prevailing view is that the reset has been slow to deliver,” the report said, noting the achievements of three agreements on steel, fish and energy, while also pointing out that only one of the six core Common Understanding commitments has so far been agreed.
Various research and polling companies have released data on the long-term effects of Brexit and prevailing public sentiment. Throughout the week, more organisations and politicians are expected to relitigate many of the Brexit arguments with their own reports and publications.
Trade awards in Parliament
Also tomorrow, the Chartered Institute's International Trade Awards (ITAs) will take place in Parliament, highlighting the excellence of British exporters, importers and supply chain professionals.
Held in the House of Lords, the fourth edition of the ITAs will celebrate the professionals and business that support British trade growth and fly the flag for the UK overseas.
This year there are four new awards, bringing the total to seven, with ministers, senior parliamentarians and business leaders set to attend to cheer on the nominees.
A panel of experts from business, academia and policy have picked the winners. Keep your eyes peeled on our LinkedIn and Global Trade Today newsletter to find out who won.
Iran-US peace process
The peace talks between the US and Iran are set to continue throughout the week.
US President Donald Trump signed an interim peace agreement last week, receiving heavy criticism from many domestic supporters. Since then, talks have already been postponed once on Friday following the outbreak of violence between Lebanon and Israel.
Iranian foreign minister Abbas Araghchi told Bloomberg that Pakistani and Qatari mediators had eased some of the tensions during all-night talks.
While “major progress” was reportedly made, and the Strait of Hormuz has reportedly seen passages pick up, diplomats warn that it could be weeks until a full peace package is signed.
Over the weekend
- The government has announced £50m in support for new critical minerals projects, claiming that this latest package will help reduce reliance on foreign imports and product UK supply chains
- Right-wing lawyer Abelardo De La Espriella narrowly clinched victory over left-wing senator Ivan Cepeda in Sunday’s Colombian presidential elections
- Ukraine hit Russian oil facilities across Crimea and Russia’s Krasnodar regions over the weekend, with multiple oil depots reported hit
Other dates for the diary
- Monday: Burnham, Lara Bird and Douglas Lumsden expected to be sworn in as MPs following by-election victories
- Tuesday: England plays Ghana in the men’s World Cup
- Wednesday: Stamer hosts first PMQs since his resignation speech
- Thursday: Chancellor Rachel Reeves’ Great British Summer Savings scheme begins. Also, the Chartered Institute’s Lunchtime Learning programme holds a session on export controls compliance
- Friday: Car production numbers from the Society of Motor Manufacturers and Traders released
- Saturday: Armed Forces Day
- Sunday: World Cup round of 32 begins
