Boris Johnson has refused to apologise after he said Margaret Thatcher gave the UK a “big early start” in its battle against climate change when she closed coal mines in the 1980s.
The PM’s official spokesperson told reporters Mr Johnson recognises the “huge impact and pain” caused by the closure of coal mines – but did not confirm whether he would say sorry for the remark.
But Labour leader Sir Keir Starmer called for the PM to apologise “immediately” and accused the Conservative government of not caring about “communities still suffering from the devastating effects of Margaret Thatcher’s callous actions”.
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PM: Thatcher gave UK an ‘early start’ on climate
The prime minister made the comment during a visit to Scotlandon Thursday, when he was asked if he would set a deadline for ending fossil fuel extraction.
“Look at what we’ve done already. We’ve transitioned away from coal in my lifetime,” he said.
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“Thanks to Margaret Thatcher, who closed so many coal mines across the country, we had a big early start and we’re now moving rapidly away from coal altogether.”
According to the Daily Record, the prime minister laughed when he made the reference to Mrs Thatcher, whose time in Downing Street (1979-90) featured the miners’ strike of 1984-5.
More on Margaret Thatcher
Mr Johnson is reported to have added: “I thought that would get you going.”
Pressed on the matter on Friday, the PM’s official spokesperson said: “The prime minister recognises the huge impact and pain closing coal mines had in communities across the UK.
“This government has an ambitious plan to tackle the critical issue of climate change, which includes reducing reliance on coal and other non-renewable energy sources.
“During the visit the prime minister pointed to the huge progress already made in the UK transitioning away from coal and towards cleaner forms of energy, and our commitment to supporting people and industries on that transition.”
Lives & communities in Scotland were utterly devastated by Thatcher’s destruction of the coal industry (which had zero to do with any concern she had for the planet). To treat that as something to laugh about is crass & deeply insensitive to that reality. https://t.co/QY0Y59UO3K
Asked if the PM plans to apologise for his remark, the spokesman added: “You’ve got my words there, the prime minister recognises the huge impact and pain closing coal mines had in communities across the UK.”
The prime minister’s Thatcher comment drew quick condemnation from opposition parties and Scotland’s First Minister Nicola Sturgeon.
“The prime minister has shown his true colours yet again,” Sir Keir said on Friday.
“For Boris Johnson to laugh when talking about the closure of the coal mines is a slap in the face for communities still suffering from the devastating effects of Margaret Thatcher’s callous actions.
“I’m proud to have always stood with our coalfield communities. I represented the miners in court as the Tories tried to close the pits. These communities contributed so much to the success of our country, and then were abandoned.
“The Tories didn’t care then, and they don’t care now.
“For Boris Johnson to treat the pain and suffering caused to our coalfield communities as a punchline shows just how out of touch with working people he is.
“The prime minister must apologise immediately.”
In a tweet on Thursday, Ms Sturgeon said: “Lives and communities in Scotland were utterly devastated by Thatcher’s destruction of the coal industry (which had zero to do with any concern she had for the planet).
“To treat that as something to laugh about is crass & deeply insensitive to that reality.”
And Scottish Greens Central Scotland MSP Gillian Mackay added: “Thatcher’s decimation of the coal industry had absolutely nothing to do with environmentalism and everything to do with her despicable anti-trade union ideology.”
But Conservative MPs have defended the PM’s remarks.
One Conservative MP in a ‘red wall’ seat told Sky News they believed the issue had been “massively overblown”, adding the only email they had received from a constituent in relation to the matter was supportive of the prime minister.
Image: The PM’s official spokesperson told reporters Mr Johnson recognises the ‘huge impact and pain’ caused by the closure of coal mines
And Brendan Clarke-Smith, MP for Bassetlaw – a former mining town – said the comment was made “in jest” but admitted he would not have said it himself.
“The comment has clearly been made in jest and was said in the context of the move away from fossil fuels to renewable and clean forms of energy,” Mr Clarke-Smith told Sky News.
He added: “That said, I wouldn’t have made the joke myself and I think we all know that when an industry closes down in a community it can have a hugely detrimental effect on the local economy, which can take a generation to solve. I have seen this with my own eyes.
“If we were talking about speeding up closures, then I would have actually used Labour’s Harold Wilson as an example, who closed 290 pits, as opposed to the 160 under Margaret Thatcher. Tony Blair also continued the trend towards closures.
“I do find it remarkable that the same people criticise the prime minister for his comments about pit closures, but then stand up in parliament expecting everybody to cut out fossil fuels immediately and drive electric cars. They can’t have it both ways.”
Mr Clarke-Smith continued: “We are proud of our mining heritage in Bassetlaw and it is something to be recognised. I am currently fighting for miners to receive a fairer deal from the Mineworkers Pension Scheme for example. We are now entering a new age however and we must seize these new opportunities to build back better in Bassetlaw.”
Michael Selig, who serves as chief counsel for the crypto task force at the US Securities and Exchange Commission, faced questions from lawmakers on the Senate Agriculture Committee for his nomination to be the next chair of the Commodity Futures Trading Commission.
On Wednesday, Selig appeared before the committee and addressed questions and concerns from lawmakers on both sides of the aisle regarding his potential conflicts of interest, policy views and experience as the next CFTC chair, succeeding Caroline Pham.
In his opening statement, Selig said he had advised a wide range of market participants, including digital asset companies, and warned against the agency taking a regulation-by-enforcement approach, stating that it would drive companies offshore.
“We’re at a unique moment in the history of our financial markets,” said Selig. “A wide range of new technologies, products, and platforms are emerging […] the digital asset economy alone has grown from a mere curiosity to a nearly $4 trillion market.”
The confirmation of Selig, whom US President Donald Trump nominated to chair the CFTC following the removal of his first pick, Brian Quintenz, is expected to head for a vote soon. According to the Senate calendar, the Agriculture Committee is scheduled to discuss his nomination on Thursday.
Addressing DeFi, crypto enforcement, roles of agency
The prospective CFTC chair responded to questions from the committee chair, Senator John Boozman, who advocated for the agency to take a leading role in regulating spot digital commodity markets. The senator’s remarks came as the committee is expected to consider a market structure bill that would give the CFTC more authority to regulate crypto.
“The CFTC, and only the CFTC, should regulate the trading of digital commodities,” said Boozman.
The Arkansas senator questioned Selig about his potential approach to decentralized finance if he were to be confirmed, an issue that reportedly divided many lawmakers on the market structure bill.
“When we’re thinking about DeFi, it’s something of a buzzword, but really we should be looking to onchain markets and onchain applications and thinking about the features of these applications as well as where there’s an actual intermediary involved […]” said Selig.
He added that it was “vitally important that we have a cop on the beat” in response to a question on regulating crypto, specifically spot digital asset commodity markets.
Democratic concerns about CFTC leadership
Senator Amy Klobuchar, the Democratic ranking member of the Agriculture Committee, pressed Selig and other lawmakers on the leadership at the CFTC. Since September, acting Chair Caroline Pham has been the sole commissioner at the agency, which usually has five members. Pham is expected to resign should the Senate confirm Selig.
“The CFTC has operated much of the last year without a full complement of bipartisan commissioners, and has been operating for months with only an acting chairman,” said Klobuchar. “This uncertainty surrounding the leadership at the CFTC has only created more chaos for people who rely on the CFTC.”
Selig said it was “very valuable to have a diversity of viewpoints,” and would “work with whoever the president chooses to appoint.” As of Wednesday, Trump had not announced any additional nominations for the CFTC commissioners, leaving four open seats if Selig were to be confirmed and Pham were to leave.
China’s foreign ministry has hit back at what it called “unfounded” accusations of spying in Westminster, saying it has “no interest” in gathering intelligence on the UK.
Yesterday, the security service MI5 sent a warning to MPs and peers about two recruitment headhunters who are working for Chinese security services.
They are Amanda Qiu of BR-YR Executive Search and Shirly Shen of the Internship Union.
But speaking in response to a question by Asia correspondent Helen-Ann Smith, Chinese foreign ministry spokesperson Mao Ning replied: “China has repeatedly made clear its solemn position on this matter.
“We firmly oppose such unfounded allegations and the exaggerated portrayal and sensationalism that project one’s own biases onto others.
“Judgements based on erroneous information will only lead astray.
More on China
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Ms Mao added: “China never interferes in the internal affairs of other countries, nor does it have any interest in gathering so-called intelligence on the British parliament.”
Chinese spying accusations may signal thorny period ahead
It is China’s standard playbook to outright deny allegations of spying.
But given that it’s common knowledge countries spy on each other, and given the recent spate of allegations of this nature, it might feel a little far-fetched for China to stick so rigorously to the position that the UK is just making it all up.
Not so, says Mao Ning, the spokesperson for China’s Ministry of Foreign Affairs.
When I put it to her, she said that these allegations are, in fact, a “projection of one’s own biases on to others”, and that China doesn’t “have any interest in gathering so-called intelligence on the British parliament”.
That is almost certainly not true. China is commonly understood to run a highly sophisticated espionage operation.
But, in a way, the truth or untruth might be immaterial to the impact on the bilateral relationship.
While the UK government may seek to send strong signals amidst criticism that it’s being too soft, China really does not appreciate this type of laundry being aired in public.
It may well signal a thorny period ahead.
In a message seen by Sky News about parliamentary staff, MPs and peers were warned that the MI5 alert “highlights how the Chinese Ministry of State Security (MSS) is actively reaching out to individuals in our community”.
The message continued: “Their aim is to collect information and lay the groundwork for long-term relationships, using professional networking sites, recruitment agents and consultants acting on their behalf.”
Security minister Dan Jarvis later said in a statement to parliament that “China has a low threshold for what information is considered to be of value, and will gather individual pieces of information to build a wider picture”.
He added: “Let me speak plainly. This activity involves a covert and calculated attempt by a foreign power to interfere with our sovereign affairs in favour of its own interests, and this government will not tolerate it.”
The government made a statement in the House of Commons following the revelations, saying it would take all “necessary measures” to protect the UK.
Westminster employees were warned that two individuals were both known to be reaching out on LinkedIn to “conduct outreach at scale on behalf of MSS”.
This latest warning comes after the collapse of a prosecution of two people suspected of spying on behalf of China.
The previous spying allegations led to controversy over how the government under Labour responded to the Crown Prosecution Service’s requests for evidence.
Sir Keir Starmer sought to blame the previous Conservative government for the issues, which centred on whether China could be designated an “enemy” under First World War-era legislation.
Sir Keir has sought to keep relationships with Beijing somewhat warm, highlighting the value of China as a trading partner.
New Hampshire has approved the issuance of a $100 million municipal bond backed by Bitcoin, in what appears to be the first structure of its kind at the US state level.
Minutes from a Nov. 17 meeting of the New Hampshire Business Finance Authority (BFA), the state’s business financing agency, show the board planned “to consider approving a resolution authorizing up to $100,000,000 bonds for a project to acquire and hold digital currency.”
Minutes from the following day record that directors voted to “approve the preliminary official intent, with no reservation, to issue a taxable conduit revenue bond for WaveRose Depositor, LLC of up to $100,000,000.”
According to a Wednesday Crypto in America report, the bond is backed by Bitcoin (BTC) and would let companies borrow against overcollateralized BTC held by a private custodian. The state or taxpayers do not back the bond; instead, BFA approves and oversees a private deal, while Bitcoin — reportedly held in custody by BitGo — covers investors.
According to the report, asset manager Wave Digital Assets and bond specialist Rosemawr Management designed the bond to utilize Bitcoin as collateral under the same rules that govern municipal and corporate bonds. Wave co-founder Les Borsai said the goal is to “bridge traditional fixed income with digital assets” for institutional investors.
The New Hampshire State House in Concord. Source: Wikimedia
“We believe this structure shows how public and private sectors can collaborate to responsibly unlock the value of digital assets and digital asset reserves,” he added.
The borrower is expected to post approximately 160% of the bond’s value in Bitcoin as collateral, and if the price of BTC drops below roughly 130%, a liquidation would ensure that bondholders stay whole. According to BFA Executive Director James Key-Wallace, fees from the transaction will fund the local innovation and entrepreneurship program, the Bitcoin Economic Development Fund.
New Hampshire dives headfirst into crypto
The news follows New Hampshire becoming the first US state to allow its government to invest in cryptocurrencies in May after Governor Kelly Ayotte signed a bill allowing the municipality to “invest in cryptocurrency and precious metals.”
New Hampshire is also working on a bill to deregulate local cryptocurrency mining operations. In late October, a committee voted 4–2 to send the measure for further review in an interim study after it had been deadlocked in the State Senate twice.
The local administration is viewed as particularly welcoming to the cryptocurrency industry. In early February, Brendan Cochrane, an Anti-Money Laundering specialist at YK Law in New York City, argued that it could become an alternative for crypto companies relocating to the Bahamas.
The latest moves build on a longer history of crypto engagement. Back in 2015, New Hampshire was already working on a bill that would have allowed the state government to accept tax and fee payments in Bitcoin.