UK needs to engage with Taliban given ‘new reality in Afghanistan’, says Raab
Foreign Secretary Dominic Raab has highlighted the importance of engaging with the Taliban as he acknowledged the need “to face up to the new reality in Afghanistan”.
While not recognising the militant group as the government in Kabul, the cabinet minister pointed to the necessity of having “a direct line of communication” to discuss a range of pressing issues, including the safe passage of remaining British citizens and Afghan allies.
Speaking during a visit to Pakistan, Mr Raab said it would not have been possible to evacuate some 15,000 people without some degree of cooperation with the Taliban, who seized power after the withdrawal of US forces, ending a 20-year military intervention.
Please use Chrome browser for a more accessible video player
What weapons were left behind in Afghanistan?
He told a news conference: “We need to face up to the new reality in Afghanistan.”
Pointing to the appointment of a new chargé d’affaires for Afghanistan based in Doha, Qatar, the foreign secretary said: “The approach that we are taking is we don’t recognise the Taliban as a government… but we do see the importance of being able to engage and have a direct line of communication.
“The reason being is clearly there are a whole range of issues that need to be discussed, including first and foremost at the moment the question of safe passage of British nationals and the Afghans who worked for the UK government.
“We need to be able to convey direct messages on these things. We need to be able to have that dialogue.”
He added: “The Taliban has made a series of undertakings. Some of them are positive at the level of words, but we need to test them and see that they translate into deeds. We cannot do that unless we have at least some channel of dialogue.”
Mr Raab said the Taliban need to create a “safe and secure environment” to allow aid to reach people in Afghanistan.
Please use Chrome browser for a more accessible video player
Taliban’s mock funeral for Western nations
He said: “No-one wants to see the economic and social fabric of Afghanistan collapse, I can’t see how that would be in the interest of the Taliban let alone ordinary Afghans, we certainly don’t want to see that happen
“We would be willing not to fund aid via the Taliban, but through the humanitarian organisations that operate inside Afghanistan – for that to happen there needs to be a safe and secure environment, so that’s an early test for the Taliban.
“But we’re willing to make sure we do our bit, along with the national community to fund the humanitarian agencies, the lifeline for ordinary Afghans, but there needs to be a safe environment for that.
“We’ll also support those regional partners, particularly like Pakistan who I can imagine is very concerned about the risk of numbers coming across the border, we want to make sure we can support those partners in the region [to] deal with that.
“That’s the holistic approach, the strategic approach we are taking.”
Please use Chrome browser for a more accessible video player
UK thought Kabul would not fall in 2021
Mr Raab, who has faced criticism over his handling of the Afghanistan crisis, also insisted there was “common widespread surprise”, even among the Taliban, at the speed in which they had taken over Afghanistan.
He said: “The takeover I think it’s fair to say was faster than anyone anticipated, not just the United Kingdom or NATO allies, but I was talking with our friends here.
“And I suspect the Taliban and ordinary Afghans were taken by surprise.
“I think there was a common widespread surprise at the speed with which the consolidation of power happened.”
Mr Raab’s comments came as the Commons Foreign Affairs Committee launched an inquiry into the chaotic retreat from Afghanistan.
Please use Chrome browser for a more accessible video player
Taliban celebrates as last US troops leave Kabul
Committee chairman Tom Tugendhat said: “The fall of Kabul is a catastrophe for the Afghan people and for the reputation of those nations that were committed to its success.
“Our hasty withdrawal leaves a country in an acute humanitarian and human rights crisis.
“The Afghan people, who we worked alongside for many years, have been left at the mercy of the Taliban, a vicious fundamentalist group.”
He said that “big questions remain” and the inquiry aimed to provide “some much-needed clarity”.
“Lessons need to be learnt and the decisions the UK makes in the coming months will be crucial,” he added.
Follow the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker
The nine largest US banks restricted financial services to politically contentious industries, including cryptocurrency, between 2020 and 2023, according to the preliminary findings of the Office of the Comptroller of the Currency (OCC).
The banking regulator said on Wednesday that its early findings show that major banks “made inappropriate distinctions among customers in the provision of financial services on the basis of their lawful business activities” across the three-year period.
The banks either implemented policies restricting access to banking or required escalated reviews and approvals before giving financial services to certain customers, the OCC said, without giving specific details.
The OCC initiated its review after President Donald Trump signed an executive order in August, directing a review of whether banks had debanked or discriminated against individuals based on their political or religious beliefs.
Crypto issuers and exchanges caught in restrictions
The OCC’s report found that in addition to crypto, the sectors that faced banking restrictions included oil and gas exploration, coal mining, firearms, private prisons, tobacco and e-cigarette manufacturers and adult entertainment.
Banks’ actions toward crypto included restrictions on “issuers, exchanges, or administrators, often attributed to financial crime considerations,” the OCC said.
“It is unfortunate that the nation’s largest banks thought these harmful debanking policies were an appropriate use of their government-granted charter and market power,” said Comptroller of the Currency Jonathan Gould.
“While many of these policies were undertaken in plain sight and even announced publicly, certain banks have continued to insist that they did not engage in debanking,” he added.
The OCC examined JPMorgan Chase, Bank of America, Citibank, Wells Fargo, US Bank, Capital One, PNC Bank, TD Bank and BMO Bank, the largest national banks it regulates.
The OCC reported that it is continuing its investigation and could refer its findings to the Justice Department.
OCC debanking report leaves “much to be desired”
Nick Anthony, a policy analyst at libertarian think tank the Cato Institute, said in an emailed statement to Cointelegraph that the OCC’s report “leaves much to be desired” and didn’t mention “the most well-known causes of debanking.”
“The report criticizes banks for severing ties with controversial clients, but it fails to mention that regulators explicitly assess banks on their reputation,” he said.
Related: ‘Grow up… We debank Democrats, we debank Republicans:’ JPMorgan CEO
“Making matters worse, the report appears to blame banks for cutting ties with cryptocurrency companies, yet makes no mention of the fact that the [Federal Deposit Insurance Corporation] explicitly told banks to stay away from these companies,” Anthony added.
Republicans on the House Finance Committee reported earlier this month that the FDIC’s so-called “pause letters” it sent to banks under the Biden administration helped to spur “the debanking of the digital asset ecosystem.”
Caitlin Long, the founder and CEO of the crypto-focused Custodia Bank, said the “worst culprits” of crypto-related debanking under the Biden administration were the FDIC and Federal Reserve, “not OCC.”
“In OCC’s defense, this report covers large banks only. Crushing crypto wasn’t a supervisory priority for large banks like it was for small [and] mid-sized banks,” she added.
Magazine: Quitting Trump’s top crypto job wasn’t easy: Bo Hines
Politics
Live music venues warn of ‘devastating consequences’ of budget tax changes in letter to Sir Keir Starmer
Tax changes announced in the budget could have “devastating, unintended consequences” on live music venues, including widespread closures and job losses, trade bodies have warned.
The bodies, representing nearly 1,000 live music venues, including grassroots sites as well as arenas such as the OVO Wembley Arena, The O2, and Co-op Live, are calling for an urgent rethink on the chancellor’s changes to the business rates system.
If not, they warn that hundreds of venues could close, ticket prices could increase, and thousands could lose their jobs across the country.
Politics latest: Ex-Olympic swimmer nominated for peerages
Business rates, which are a tax on commercial properties in England and Wales, are calculated through a complex formula of the value of the property, assessed by a government agency every three years. That is then combined with a national “multiplier” set by the Treasury, giving a final cash amount.
The chancellor declared in her budget speech that although she is removing the business rates discount for small hospitality businesses, they would benefit from “permanently lower tax rates”. The burden, she said, would instead be shifted onto large companies with big spaces, such as Amazon.
But both small and large companies have seen the assessed values of their properties shoot up, which more than wipes out any discount on the tax rate for small businesses, and will see the bills of arena spaces increase dramatically.
In the letter, coordinated by Live, the trade bodies write that the effect of Rachel Reeves’s changes are “chilling”, saying: “Hundreds of grassroots music venues will close in the coming years as revaluations drive costs up. This will deprive communities of valuable cultural spaces and limit the UK creative sector’s potential. These venues are where artists like Ed Sheeran began their career.
“Ticket prices for consumers attending arena shows will increase as the dramatic rise in arena’s tax costs will likely trickle through to ticket prices, undermining the government’s own efforts to combat the cost of living crisis. Many of these arenas are seeing 100%+ increases in their business rates liability.
“Smaller arenas in towns and cities across the UK will teeter on the edge of closure, potentially resulting in thousands of jobs losses and hollowing out the cultural spaces that keep places thriving.”
The full letter from trade bodies to the prime minister.
They go on to warn that the government will “undermine its own Industrial Strategy and Creative Sector Plan which committed to reducing barriers to growth for live events”, and will also reduce spending in hotels, bars, restaurants and other high street businesses across the country.
To mitigate the impact of the tax changes, they are calling for an immediate 40% discount on business rates for live venues, in line with film studios, as well as “fundamental reform” to the system used to value commercial properties in the UK, and a “rapid inquiry” into how events spaces are valued.
Please use Chrome browser for a more accessible video player
Sky’s Jess Sharp explains how the budget could impact your money
In response, a Treasury spokesperson told Sky News: “With Covid support ending and valuations rising, some music venues may face higher costs – so we have stepped in to cap bills with a £4.3bn support package and by keeping corporation tax at 25% – the lowest rate in the G7.
“For the music sector, we are also relaxing temporary admission rules to cut the cost of bringing in equipment for gigs, providing 40% orchestra tax relief for live concerts, and investing up to £10m to support venues and live music.”
The warning from the live music industry comes after small retail, hospitality and leisure businesses warned of the potential for widespread closures due to the changes to the business rates system.
Please use Chrome browser for a more accessible video player
Sky’s political editor Beth Rigby challenged Prime Minister Sir Keir Starmer on the tax rises in the budget.
Sky News reported after the budget that the increase in business rates over the next three years following vast increases in the assessed values of commercial properties has left small retail, hospitality and leisure businesses questioning whether their businesses will be viable beyond April next year.
Analysis by UK Hospitality, the trade body that represents hospitality businesses, has found that over the next three years, the average pub will pay an extra £12,900 in business rates, even with the transitional arrangements, while an average hotel will see its bill soar by £205,200.
Read more: Hospitality pleads for ‘lifeline’
A Treasury spokesperson said their cap for small businesses will see “a typical independent pub pay around £4,800 less next year than they otherwise would have”.
“This comes on top of cutting licensing costs to help more venues offer pavement drinks and al fresco dining, maintaining our cut to alcohol duty on draught pints, and capping corporation tax,” they added.
The Chancellor Rachel Reeves has acknowledged there were “too many leaks” in the run-up to last month’s budget.
The flow of budget content to news organisations was “very damaging”, Ms Reeves told MPs on the Treasury select committee on Wednesday.
“Leaks are unacceptable. The budget had too much speculation. There were too many leaks, and much of those leaks and speculation were inaccurate, very damaging”, she said.
Money blog: Nine-year-old set up Christmas tree business to pay for university
The cost of UK government borrowing briefly spiked after news reports that income taxes would not rise as first expected and Labour would not break its manifesto pledge.
An inquiry into the leaks from the Treasury to members of the media is to take place. But James Bowler, the Treasury’s top official, who was also giving evidence to MPs, would not say the results of it would be published.
Committee chair Dame Meg Hillier asked if the group of MPs could see the full inquiry.
“I’d have to engage with the people in the inquiry about the views on that”, replied Mr Bowler, permanent secretary to the Treasury.
Please use Chrome browser for a more accessible video player
OBR leak ‘a mistake of such gravity’
The entire contents of the budget ended up being released 40 minutes early via independent forecasters, the Office for Budget Responsibility (OBR).
A report into this error found the OBR had uploaded documents containing their calculations of budget numbers to a link on the watchdog’s website it had mistakenly believed was inaccessible to the public.
Tax rises ruled out
The chancellor ruled out future revenue-raising measures, including applying capital gains tax to primary residences and changing the state pension triple.
Committee member and former chair Dame Harriet Baldwin had noted that the chancellor’s previous statement to the MPs when she said she would not overhaul council tax and look at road pricing, turned out to be inaccurate.
During the budget, an electric vehicle charge per mile was introduced, as was an additional council tax for those with properties worth £2m or more.
-
Sports2 years agoStory injured on diving stop, exits Red Sox game
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports3 years agoButton battles heat exhaustion in NASCAR debut
-
Sports3 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment3 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment1 year agoHere are the best electric bikes you can buy at every price level in October 2024