UK Prime Minister Keir Starmer on Monday announced resignation as Labour Party leader after 23 months
Reports link the move to party criticism, policy issues and Andy Burnham’s leadership challenge
Pressure on Starmer grew as Labour MPs questioned leadership amid Burnham’s strong election performance
UK Prime Minister and Labour Party leader Keir Starmer announced on Monday that he will step down as Labour leader, saying a successor should be in place by September amid growing dissent within the party.
Reports say the decision comes amid growing criticism within the party, concerns about government policy and a leadership challenge from fellow Labour politician Andy Burnham.
Pressure on Starmer had been building in recent months as several Labour MPs questioned his leadership. Burnham's strong performance in a recent special election further fuelled speculation about a challenge, while Labour continued to grapple with immigration debates and disagreements over defence spending.
1 June 2026
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Starmer said his party had asked whether he was "best placed" to lead Labour into the next general election. "I have heard the answer, and I accept it with good grace," he said. "I will resign as leader of the Labour Party," Starmer added in a tearful speech.
During his time in office, Starmer also faced criticism over welfare changes, tax decisions and a number of political controversies.
Keir Starmer's Net Worth
With the attention shifting to Labour’s next leader, Starmer’s personal wealth has also been in the spotlight.
According to TOI, his net worth is estimated to be £7 million-£15 million in 2025. His wealth is tied to a career that spans law, politics, consultancy work and property investments.
Starmer was Director of Public Prosecutions from 2008 to 2013 before going into politics. Reports say he made about £200,000 a year in that time, making it one of the richest periods of his career.
Career Earnings & Assets
Starmer came into Parliament in 2015, steadily rising through Labour's ranks before becoming Prime Minister in 2024.
Reports suggest he earned around £76,961 as a Member of Parliament and an additional £49,193 as Leader of the Opposition during 2021-22. His annual salary reportedly increased to about £160,000 after moving into 10 Downing Street.
Property also forms a major part of Starmer's reported wealth. He owns a family home in North London estimated to be worth around £1.8 million, along with seven acres of land in Surrey reportedly valued at up to £10 million.
Apart from his political salaries, Starmer has also earned money through legal consultancy work and property deals. Reports estimate that his public service pension from his time as Director of Public Prosecutions is worth around £700,000.
