Morning Call: pick of the papers

The ten must-read comment pieces from this morning's papers.

1. Gloomsters buried the euro too soon (Financial Times)

The end point looks likely to be tighter economic union that falls short of political federalism, writes Philip Stephens.

2. Accountancy's Big Four are laughing all the way to the tax office (Guardian)

Accountancy giants are paid huge sums by the state while helping firms strip it of desperately needed tax revenue, says Polly Toynbee.

3. For Cameron aid is not a badge. It’s a mission (Times) (£)

When the PM is compared to Harold Macmillan it’s usually derogatory, writes Philip Collins. But Africa shows them both at their best.

4. The EU has changed Britain – and mostly for the better (Independent)

Besides the money for infrastructure projects, EU membership has given Brits the chance to see how Europeans do things, and what we could do better, says Mary Dejevsky.

5. Time to protect the UK defence budget (Financial Times)

If necessary, aid spending must be used to shore up the MoD, argues an FT leader.

6. Cameron goes where Blair went before – but at what cost? (Independent)

The Prime Minister's decision to send troops to Mali is the product of an ill-defined nightmare of religious terrorism and "gesture" politics, writes Adrian Hamilton.

7. Our Armed Forces can’t survive on a diet of fudge, Mr Cameron (Daily Telegraph)

If the Prime Minister truly wants to confront the threat from Islamists in Africa, he must find the money to increase the defence budget, says Fraser Nelson.

8. Why can't we British make patriotic films like Spielberg's blockbuster? (Daily Mail)

The director's Lincoln is an unembarrassed hymn to the United States, writes Max Hastings.

9. Try to see economic opportunity in our current difficulties (Daily Telegraph)

Times are hard, but blood-curdling warnings about our financial predicament are wrong, argues Jeremy Warner.

10. We can count hard cash, but what is the value of beauty? (Guardian)

In planning, defenders of nature are 'nimbies', opponents 'vandals', writes Simon Jenkins. To end the shouting match we need a new language.

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Will Jeremy Corbyn stand down if Labour loses the general election?

Defeat at the polls might not be the end of Corbyn’s leadership.

The latest polls suggest that Labour is headed for heavy defeat in the June general election. Usually a general election loss would be the trigger for a leader to quit: Michael Foot, Gordon Brown and Ed Miliband all stood down after their first defeat, although Neil Kinnock saw out two losses before resigning in 1992.

It’s possible, if unlikely, that Corbyn could become prime minister. If that prospect doesn’t materialise, however, the question is: will Corbyn follow the majority of his predecessors and resign, or will he hang on in office?

Will Corbyn stand down? The rules

There is no formal process for the parliamentary Labour party to oust its leader, as it discovered in the 2016 leadership challenge. Even after a majority of his MPs had voted no confidence in him, Corbyn stayed on, ultimately winning his second leadership contest after it was decided that the current leader should be automatically included on the ballot.

This year’s conference will vote on to reform the leadership selection process that would make it easier for a left-wing candidate to get on the ballot (nicknamed the “McDonnell amendment” by centrists): Corbyn could be waiting for this motion to pass before he resigns.

Will Corbyn stand down? The membership

Corbyn’s support in the membership is still strong. Without an equally compelling candidate to put before the party, Corbyn’s opponents in the PLP are unlikely to initiate another leadership battle they’re likely to lose.

That said, a general election loss could change that. Polling from March suggests that half of Labour members wanted Corbyn to stand down either immediately or before the general election.

Will Corbyn stand down? The rumours

Sources close to Corbyn have said that he might not stand down, even if he leads Labour to a crushing defeat this June. They mention Kinnock’s survival after the 1987 general election as a precedent (although at the 1987 election, Labour did gain seats).

Will Corbyn stand down? The verdict

Given his struggles to manage his own MPs and the example of other leaders, it would be remarkable if Corbyn did not stand down should Labour lose the general election. However, staying on after a vote of no-confidence in 2016 was also remarkable, and the mooted changes to the leadership election process give him a reason to hold on until September in order to secure a left-wing succession.

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