Keir Starmer, the Prime Minister of the United Kingdom and leader of the Labour Party, has said he will step down. He made this announcement outside 10 Downing Street in London. Starmer will stay as a temporary prime minister until a new leader is chosen, which should happen by the end of September.

Starmer is leaving because he has been under strong pressure from his own party. Many members are unhappy with slow economic growth, problems with public services, and the high cost of living.

After Starmer’s announcement, many people were unsure about the future, and the British pound quickly lost value compared to the US dollar. Now, the Labour Party will choose a new leader, and Andy Burnham, who recently won a by-election, is seen as one possible replacement.