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FM Yousaf Presser @ 1200BST, Could Resign Following Gov't Collapse
Scotland's First Minister Humza Yousaf has called a press conference at 1200BST (0700ET, 1300CET) with the prospect that he announces his resignation. Having been in office for just over one year, Yousaf's decision to dissolvethe coalition agreement between his populist pro-independence Scottish National Party (SNP) and the environmentalist Greens has backfired. The SNP now sits as a minority administration, and Yousaf faced a vote of no confidence in the Scottish Parliament.
- It would seem that Yousaf had been confident that even having collapsed the SNP-Green agreement, the latter would still back him in a confidence vote or abstain. However, the Greens announced their intention to vote against Yousaf. This left Yousaf reliant on the support of the single pro-independence Alba Party MSP, Ash Regan. Without her backing, Yousaf would fall short of a majority.
- Should Yousaf resign it would trigger an SNP leadership contest. The eventual new SNP head would then face a confidence vote in the Scottish Parliament. If this is unsuccessful within 28 days, snap elections are called.
- The news cycle in the UK as a whole remains drawn on the prospect of whether PM Rishi Sunak will call a summer general election in the aftermath of what are expected to be poor results for his centre-right Conservatives in the 2 May England and Wales local elections. It remains to be seen what a snap Scottish parliament election - where the centre-left pro-Union Labour party would likely challenge the SNP for first place - could have on the broader UK political landscape.
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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.