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Sir Keir Starmer has announced his resignation as Prime Minister (PM) and leader of the Labour Party, plunging the British government into yet another sudden transition, just two years after the last general election.
Sir Keir Starmer has initiated a formal transitional period, resigning amidst internal party pressure. This sudden transition will create economic uncertainty, which is likely to threaten businesses’ short term economic plans. To limit financial exposure, commercial legal teams will be working on risk mitigation plans. Meanwhile, deals and restructurings are likely to be put on hold until the new PM is chosen.
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