5 important things happening in the UK today (13 May 2026)

Here are five important things happening in the UK on Tuesday (13 May 2026):

Starmer prepares for King’s Speech

King Charles will unveil the government’s agenda for the year ahead this morning, as Sir Keir Starmer fights for his future in Downing Street. Labour’s ongoing divisions mean the day of pomp and ceremony for the State Opening of Parliament will take place in unusual circumstances. The King’s Speech is expected to include more than 35 bills and draft bills, including on immigration, the NHS, and police reforms, along with a route to potentially nationalising British Steel. [BBC]

Starmer not expected to lead next election

Starmer will not lead his party into the next general election, Labour-supporting unions have predicted, in an intervention that threatens to further destabilise the prime minister after a damaging few days. The 11 Labour-affiliated unions – which include Unite, Unison and the GMB – are expected to issue a joint statement on Wednesday saying “at some stage” the party will have to put a plan in place to elect a new leader. [Guardian]

UK borrowing costs hit decades-long high

The cost of UK government borrowing has hit a high not seen in decades as Prime Minister Keir Starmer faces mounting threats to his leadership and the oil price rises. The UK’s benchmark borrowing cost rose to 5.12% on Tuesday – a near 20-year high. Last time investors demanded such a return to lend to the state for 10 years was in July 2008. [Sky News]

Heathrow, Gatwick revolt over Labour flight cancellation plans

Heathrow and Gatwick have urged the government to climb down from plans to allow airlines to scrap flights without notice, a move which could endanger the summer holidays of millions of Brits. The leading airports reportedly wrote to the government to oppose mooted plans to unwind “use it or lose it” rules to allow airlines to deal with the jet fuel shortage that has already cancelled thousands of flights. [CityAM]

Financial news

Oil prices are in a holding pattern above the $100 a barrel level, as prospects for a US-Iran peace deal fade. On Tuesday, Oil was trading higher at $106.27. The pound is trading at $1.35, €1.15, and ¥9.20.