Government's cost of living tsar's blunt message to Labour MPs over Keir Starmer

The government’s cost-of-living tsar has warned Labour against “Westminster navel-gazing” as he backed Keir Starmer to remain as PM. Richard Walker , boss of frozen food chain Iceland, threw his weight behind Mr Starmer amid ongoing uncertainty about his premiership. It comes after Mr Starmer held a brief meeting with Health Secretary Wes Streeting, who is seen as a potential leadership rival, at Downing Street Lord Walker, who the Prime Minister directly appointed as the government’s Cost of Living Champion in February, told the Mirror : “This is exactly the kind of navel-gazing the country is sick of. The markets hate it, households foot the bill, and Britain gains nothing from it. It’s time to simmer down, get on with government, and focus on the cost of living.” He said businesses were “crying out” for stability, as the debate over Sir Keir’s leadership continues to rage. Firms are keenly watching events unfold given what a change in leadership could mean in terms of government policy. Another impact could be on the cost of borrowing, with the political turmoil pushing in UK gilt yields and expectations that interest rates will have to stay higher for longer. The yield - or rate - on short and long term gilts stabilised on Wednesday, having risen sharply on Tuesday given speculation that Sir Keir could face a leadership challenge. Financial markets are also nervous about the prospect of Sir Keir number two, Chancellor Rachel Reeves , going if he quits. Lord Walker has used his new role to speak out about a wide range of issues, including those impacting families. He previously accused some fuel firms of “taking the p!$$” after a surge in petrol prices for motorists on the back of the Iran war .