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Free AccessCons. Look To Hold Key Mayoralties, But Overall Outlook Poor For Gov't
PM Rishi Sunak's centre-right Conservatives have retained the mayoralty of the Tees Valley and according to reports are also likely to hold onto the West Midlands in a small boost in an otherwise poor outlook for the governing party as results come in from the 2 May local elections. The Guardian reportsthat according to its Labour sources, Conservative Andy Street is set to hold on in the West Midlands (results tomorrow). Notably, both Ben Houchen (Tees Valley) and Street (West Midlands) campaigned with very little reference to their party, instead seeking to win on their personal records.
- Despite these results, pollster Matt Singh notes on X: "The Conservatives are in danger of getting their worst locals result EVER in terms of Projected National Share. Currently tracking close to the 25% they got in 1995 (their worst since the measure began)..."
- Retaining these two mayoralties, and coming in second rather than third in the Blackpool South by-election is likely to prove sufficient for PM Rishi Sunak to avoid a leadership challenge - a scenario that could have engendered a snap general election.
- Instead, if Sunak is not challenged for the Conservative leadership the likely date for an election remains October-November, with the prospect of a tax-cutting/spending increase 'fiscal event' before then in a last effort to avoid a sizeable Labour majority.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.