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.
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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.”
Greens leader Zack Polanski has rejected claims his party would push for open borders on immigration, telling Sky News it is “not a pragmatic” solution for a world in “turmoil”.
Mr Polanski distanced himself from his party’s “long-range vision” for open borders, saying it was not in his party’s manifesto and was an “attack line used by opponents” to question his credibility.
It came as Mr Polanski, who has overseen a spike in support in the polls to double figures, refused to apologise over controversial comments he made about care workers on BBC Question Time that were criticised across the political spectrum.
Mr Polanski was speaking to Sky News earlier this week while in Calais, where he joined volunteers and charities to witness how French police handle the arrival of migrants in the town that is used as a departure point for those wanting to make the journey to the UK.
He told Sky News he had made the journey to the French town – once home to the “Jungle” refugee camp before it was demolished in 2016 – to tackle “misinformation” about migration and to make the case for a “compassionate, fair and managed response” to the small boats crisis.
He said that “no manifesto ever said anything about open borders” and that the Greens had never stood at a general election advocating for them.
“Clearly when the world is in political turmoil and we have deep inequality, that is not a situation we can move to right now,” he said.
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“That would also involve massive international agreements and cooperation. That clearly is not a pragmatic conversation to have right now. And very often the government try to push that attack line to make us look not pragmatic.”
The party’s manifesto last year did not mention open borders, but it did call for an end to the “hostile environment”, more safe and legal routes and for the Home Office to be abolished and replaced with a department of migration.
Asked why the policy of minimal restrictions on migration had been attributed to his party, Mr Polanski said open borders was part of a “long-range vision of what society could look like if there was a Green government and if we’d had a long time to fix some of the systemic problems”.
‘We should recognise the contribution migrants make’
Mr Polanski, who was elected Green Party leader in September and has been compared to Nigel Farage over his populist economic policies, said his position was one of a “fair and managed” migration system – although he did not specify whether that included a cap on numbers.
He acknowledged that there needed to be a “separate conversation” about economic migration but that he did not believe any person who boarded a small boat was in a “good situation”.
While Mr Polanski stressed that he believed asylum seekers should be able to work in Britain and pay taxes, he also said he believed in the need to train British workers in sectors such as care, where one in five are foreign nationals.
Asked what his proposals for a fair and managed migration system looked like, and whether he supported a cap on numbers, Mr Polanski said: “We have 100,000 vacancies in the National Health Service. One in five care workers in the care sector are foreign nationals.
Image: Zack Polanski speaks to Sky News from a warehouse in Calais where charities and organisations provide migrants with essentials.
“Now, of course, that is both British workers and we should be training British workers, but we should recognise the contribution that migrants and people who come over here make.”
I’m not going to apologise’
Mr Polanski also responded to the criticism he attracted over his comments about care workers on Question Time last week, where he told the audience: “I don’t know about you, but I don’t particularly want to wipe someone’s bum” – before adding: “I’m very grateful for the people who do this work.”
His comments have been criticised by a number of Labour MPs, including Wes Streeting, the health secretary, who said: “Social care isn’t just ‘wiping someone’s bum’. It is a hard, rewarding, skilled professional job.
Asked whether he could understand why some care workers might feel he had talked down to them, the Greens leader replied: “I care deeply about care workers. When I made those comments, it’s important to give a full context. I said ‘I’m very grateful to people who do this important work’ and absolutely repeat that it’s vital work.”
“Of course, it is not part of the whole job, and I never pretended it was part of the whole job.”
Mr Polanski said he “totally” rejected the suggestion that he had denigrated the role of care workers in the eyes of the public and said his remarks were made in the context of a “hostile Question Time” where he had “three right-wing panellists shouting at me”.
Pressed on whether he wanted to apologise, he replied: “I’m not going to apologise for being really clear that I’m really grateful to the people who do this really vital work. And yes, we should be paying them properly, too.”
A group of crypto organizations has pushed back on Citadel Securities’ request that the Securities and Exchange Commission tighten regulations on decentralized finance when it comes to tokenized stocks.
Andreessen Horowitz, the Uniswap Foundation, along with crypto lobby groups the DeFi Education Fund and The Digital Chamber, among others, said they wanted “to correct several factual mischaracterizations and misleading statements” in a letter to the SEC on Friday.
The group was responding to a letter from Citadel earlier this month, which urged the SEC not to give DeFi platforms “broad exemptive relief” for offering trading of tokenized US equities, arguing they could likely be defined as an “exchange” or “broker-dealer” regulated under securities laws.
“Citadel’s letter rests on a flawed analysis of the securities laws that attempts to extend SEC registration requirements to essentially any entity with even the most tangential connection to a DeFi transaction,” the group said.
The group added they shared Citadel’s aims of investor protection and market integrity, but disagreed “that achieving these goals always necessitates registration as traditional SEC intermediaries and cannot, in certain circumstances, be met through thoughtfully designed onchain markets.”
Citadel’s ask would be impractical, group says
The group argued that regulating decentralized platforms under securities laws “would be impracticable given their functions” and could capture a broad range of onchain activities that aren’t usually considered as offering exchange services.
The letter also took aim at Citadel’s characterization that autonomous software was an intermediary, arguing it can’t be a “‘middleman’ in a financial transaction because it is not a person capable of exercising independent discretion or judgment.”
“DeFi technology is a new innovation that was designed to address market risks and resiliency in a different way than traditional financial systems do, and DeFi protects investors in ways that traditional finance cannot,” the group argued.
In its letter, Citadel had argued that the SEC giving the green light to tokenized shares on DeFi “would create two separate regulatory regimes for the trading of the same security” and would undermine “the ‘technology-neutral’ approach taken by the Exchange Act.”
Citadel argued that exempting DeFi platforms from securities laws could harm investors, as the platforms wouldn’t have protections such as venue transparency, market surveillance and volatility controls, among others.
The letter initially drew considerable backlash, with Blockchain Association CEO Summer Mersinger saying Citadel’s stance was an “overbroad and unworkable approach.”
The letters come as the SEC looks for feedback on how it should approach regulating tokenized stocks, and agency chair Paul Atkins has said that the US financial system could embrace tokenization in a “couple of years.”
Tokenization has exploded in popularity this year, but NYDIG warned on Friday that assets moving onchain won’t immediately be of great benefit to the crypto market until regulations allow them to more deeply integrate with DeFi.
A growing rift has emerged in Washington, D.C., between the cryptocurrency industry and labor unions as lawmakers debate whether to ease rules allowing cryptocurrencies in 401(k) retirement accounts.
The dispute centers on proposed market structure legislation that would allow retirement accounts to gain exposure to crypto, a move labor groups say could expose workers to speculative risk. In a letter sent on Wednesday to the US Senate Banking Committee, the American Federation of Teachers argued that cryptocurrencies are too volatile for pension and retirement savings, warning that workers could face significant losses.
The letter drew immediate pushback from crypto investors and industry figures. “The American Federation of Teachers has somehow developed the most logically incoherent, least educated take one could possibly author on the matter of crypto market structure regulation,” a crypto investor said on X.
The AFT letter to Congress opposes regulatory changes that would allow 401(k) retirement accounts to hold alternative assets, including cryptocurrency. Source: CNBC
In response to the letter, Castle Island Ventures partner Sean Judge said the bill would improve oversight and reduce systemic risk, while enabling pension funds to access an asset class that has delivered strong long-term returns.
Consensys attorney Bill Hughes said the AFT’s opposition to the crypto market structure bill was politically motivated, accusing the group of acting as an extension of Democratic lawmakers.
Funds held in US retirement accounts by type of account plan. Source: ICI
Opposition to crypto in retirement and pension funds mounts
Proponents of allowing crypto in retirement portfolios, on the other hand, argue that it democratizes finance, while trade unions have voiced strong opposition to relaxing current regulations, claiming that crypto is too risky for traditional retirement plans.
“Unregulated, risky currencies and investments are not where we should put pensions and retirement savings. The wild, wild west is not what we need, whether it’s crypto, AI, or social media,” AFT president Randi Weingarten said on Thursday.
The AFT represents 1.8 million teachers and educational professionals in the US and is one of the largest teachers’ unions in the country.
According to Better Markets, a nonprofit and nonpartisan advocacy organization, cryptocurrencies are too volatile for traditional retirement portfolios, and their high volatility can create time-horizon mismatches for pension investors seeking a predictable, low-volatility retirement plan.
Bitcoin and Ether volatility compared to other asset classes and stock indexes. Source: US Federal Reserve
In October, the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) also wrote to Congress opposing provisions within the crypto market structure regulatory bill.
The AFL-CIO, the largest federation of trade unions in the US, wrote that cryptocurrencies are volatile and pose a systemic risk to pension funds and the broader financial system.