PM to argue his ‘levelling-up’ project is a ‘win-win’ as he sets out post-pandemic vision

Published

4 years ago

July 14, 2021

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Boris Johnson will argue his “levelling-up” project is a “win-win” and will not mean “robbing Peter to pay Paul” as he sets out his post-pandemic vision for the UK.

In a speech in the West Midlands on Thursday, the prime minister will indicate his flagship programme will benefit the whole country, not just the Conservatives’ new parliamentary constituencies in the north and midlands.

It comes after the Tories lost the previously-safe home counties seat of Chesham and Amersham to the Liberal Democrats last month, and some in the party warned ‘levelling up’ must not come at the expense of the party’s southern heartlands.

Mr Johnson is expected to say the programme is not a “jam-spreading operation”.

Yet he will criticise previous governments for focussing investment on “areas where house prices are already sky high and where transport is already congested”.

He will say: “By turbo charging those areas – especially in London and the South East – you drive prices even higher and you force more and more people to move to the same expensive areas and the result is that their commutes are longer, their trains are more crowded, they have less time with their kids.

“They worry at the same time that the younger generation won’t be able to get a home and that their leafy suburb or village will be engulfed by new housing development but without the infrastructure to go with it.

But the prime minister is also expected to argue: “We don’t want to decapitate the tall poppies. We don’t think you can make the poor parts of the country richer by making the rich parts poorer.”

Angela Rayner MP, Labour’s deputy leader said: “Boris Johnson has overseen the worst death toll in Europe and the greatest hit to any major economy. Two years as prime minister and all we have is this empty husk of a speech that shows he has no plan for the future of our country other than pitching people and towns against each other.

“Unlike Labour, he has no plan to buy, make and sell more in Britain. He has no jobs promise for young people. And he has no recovery plan for our children. Britain deserves better.”

The prime minister will also set out policies to regenerate high streets, including making pavement licences for pubs and cafes permanent, and extending takeaway pints for a further 12 months.

The government is due to publish a white paper with detailed policy proposals in the autumn.

Politics

Labour suspends MP Dan Norris after arrest

Published

10 hours ago

April 5, 2025

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Labour MP Dan Norris arrested on suspicion of rape and child sex offences

The Labour Party has suspended its MP Dan Norris after “being informed of his arrest”.

A Labour Party spokesperson said: “Dan Norris MP was immediately suspended by the Labour Party upon being informed of his arrest.

“We cannot comment further while the police investigation is ongoing.”

Mr Norris defeated Jacob Rees-Mogg to win the new seat of North East Somerset and Hanham in last year’s general election.

He has also lost the party whip in the House of Commons.

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Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Published

17 hours ago

April 5, 2025

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Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi Nakamoto, the pseudonymous creator of Bitcoin, marks their 50th birthday amid a year of rising institutional and geopolitical adoption of the world’s first cryptocurrency.

The identity of Nakamoto remains one of the biggest mysteries in crypto, with speculation ranging from cryptographers like Adam Back and Nick Szabo to broader theories involving government intelligence agencies.

While Nakamoto’s identity remains anonymous, the Bitcoin (BTC) creator is believed to have turned 50 on April 5 based on details shared in the past.

According to archived data from his P2P Foundation profile, Nakamoto once claimed to be a 37-year-old man living in Japan and listed his birthdate as April 5, 1975.

Nakamoto’s anonymity has played a vital role in maintaining the decentralized nature of the Bitcoin network, which has no central authority or leadership.

The Bitcoin wallet associated with Nakamoto, which holds over 1 million BTC, has laid dormant for more than 16 years despite BTC rising from $0 to an all-time high above $109,000 in January.

Nakamoto’s 50th birthday comes nearly a month after US President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.

Nakamoto’s legacy: a “cornerstone of economic sovereignty”

“At 50, Nakamoto’s legacy is no longer just code; it’s a cornerstone of economic sovereignty,” according to Anndy Lian, author and intergovernmental blockchain expert.

“Bitcoin’s reserve status signals trust in its scarcity and resilience,” Lian told Cointelegraph, adding:

“What’s fascinating is the timing. Fifty feels symbolic — half a century of life, mirrored by Bitcoin’s journey from a white paper to a trillion-dollar asset. Nakamoto’s vision of trustless, peer-to-peer money has outgrown its cypherpunk roots, entering the halls of power.”

However, lingering questions about Nakamoto remain unanswered, including whether they still hold the keys to their wallet, which is “a fortune now tied to US policy,” Lian said.

Is Satoshi Nakamoto wealthier than Bill Gates?

In February, Arkham Intelligence published findings that attribute 1.096 million BTC — then valued at more than $108 billion — to Nakamoto. That would place him above Microsoft co-founder Bill Gates on the global wealth rankings, according to data shared by Coinbase director Conor Grogan.

If accurate, this would make Nakamoto the world’s 16th richest person.

Despite the growing interest in Nakamoto’s identity and holdings, his early decision to remain anonymous and inactive has helped preserve Bitcoin’s decentralized ethos — a principle that continues to define the cryptocurrency to this day.

Magazine: 10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’

Politics

Wall Street’s one-day loss tops the entire crypto market cap

Published

22 hours ago

April 5, 2025

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Wall Street’s one-day loss tops the entire crypto market cap

The United States stock market lost more in value over the April 4 trading day than the entire cryptocurrency market is worth, as fears over US President Donald Trump’s tariffs continue to ramp up.

On April 4, the US stock market lost $3.25 trillion — around $570 billion more than the entire crypto market’s $2.68 trillion valuation at the time of publication.

Nasdaq 100 is now “in a bear market”

Among the Magnificent-7 stocks, Tesla (TSLA) led the losses on the day with a 10.42% drop, followed by Nvidia (NVDA) down 7.36% and Apple (AAPL) falling 7.29%, according to TradingView data.

The significant decline across the board signals that the Nasdaq 100 is now “in a bear market” after falling 6% across the trading day, trading resource account The Kobeissi Letter said in an April 4 X post. This is the largest daily decline since March 16, 2020.

“US stocks have now erased a massive -$11 TRILLION since February 19 with recession odds ABOVE 60%,” it added. The Kobessi Letter said Trump’s April 2 tariff announcement was “historic” and if the tariffs continue, a recession will be “impossible to avoid.”

Nasdaq, United States, Stocks — *Source:* *Anthony Scaramucci*

On April 2, Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports from all countries.

Trump said the reciprocal tariffs will be roughly half the rate US trading partners impose on American goods.

Meanwhile, the crypto industry has pointed out that while the stock market continues to decline, Bitcoin (BTC) remains stronger than most expected.

Crypto trader Plan Markus pointed out in an April 4 X post that while the entire stock market “is tanking,” Bitcoin is holding.

Even some crypto skeptics have pointed out the contrast between Bitcoin’s performance and the US stock market during the recent period of macro uncertainty.

Stock market commentator Dividend Hero told his 203,200 X followers that he has “hated on Bitcoin in the past, but seeing it not tank while the stock market does is very interesting to me.”

Meanwhile, technical trader Urkel said Bitcoin “doesn’t appear to care one bit about tariff wars and markets tanking.” Bitcoin is trading at $83,749 at the time of publication, down 0.16% over the past seven days, according to CoinMarketCap data.

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set