A 'political earthquake' revives the Tea Party

The defeat of Eric Cantor in the Republican Primary in Virginia has sent shock waves through the political class.

Last week's defeat of Eric Cantor, the Majority Leader of the US House of Representatives, by an unknown economics professor called David Brat, has caused a "political earthquake", says The Times.

Brat's decisive victory in the Republican Primary in Virginia is the first time since the position was created in 1899 that a sitting Majority Leader has been defeated. The result could have a major impact both on this year's mid-term elections and on the 2016 presidential elections.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.