Some Labour MPs are reportedly concerned that Angela Rayner could become the party's equivalent of Liz Truss, warning of a potential market meltdown and electoral disaster if she were to take over as prime minister. The comparison stems from fears that Rayner, like Truss, represents an ideological rather than pragmatic choice, and could spook financial markets with a radical agenda.
One Labour MP described an 'Anybody But Ange' campaign gaining traction within the parliamentary party, saying, 'I am really worried Angela will be our Liz Truss.' The analogy references Truss's disastrous 49-day premiership, which collapsed after her mini-budget triggered a market crisis and inflicted lasting reputational damage on the Conservatives.
Critics argue that Rayner, as the preferred candidate of the soft left, would push for higher taxes and a bigger state, shifting Labour's policy stance significantly. There are particular concerns that she could cause a flight of capital, with one MP warning of a 'meltdown on the markets' if she became PM. This echoes the market turmoil seen during Truss's tenure.
Rayner's allies include many who supported Jeremy Corbyn's leadership, and her partner, former MP Sam Tarry, is seen as a symbol of the left-wing figures who would surround her. The worry is that, like Truss, Rayner could implement a radical agenda without a general election mandate, having only taken over after the incumbent was forced out.
While some dismiss the Truss comparison as exaggerated, the anxiety reflects deeper divisions within Labour. MPs are reportedly desperate for Keir Starmer to hold on, or for Wes Streeting to succeed him, rather than risk Rayner at the helm.
