Welsh First Minister Resigns, Little Impact Outside Local Politics

First Minister of Wales Vaughan Gething has resigned after a prolonged series of challenges to his position starting almost immediately after he took office in March of this year. Questions regarding aGBP200k donation to Gething from an individual convicted of environmental offences have circled over Gething during his election campaign and since becoming FM. Earlier today, three ministers and the Welsh gov'ts chief legal adviser resigned and called for Gething to step down.

• While damaging for centre-left Labour party in Wales, the resignation is unlikely to have a wider impact on the UK polticial situation or the actions of the new gov't of PM Sir Keir Starmer in Westminster. Unlike in Scotland, the independence movement in Wales (pro-independence Plaid Cymru excepted) is not seen to be supported by anything near a majority of the population.
• The Welsh Senedd (parliament) is split down the middle, with 30 Labour members and 30 in opposition from other parties. As such, there is the prospect of a snap election if Labour cannot reach an agreement on a new FM.
• Given the small size of the Welsh economy in the context of the wider UK (in 2021 accounting for 3.5% of GDP) the outcome of the upcoming leadership contest, or any snap election, will garner little market interest.