A local council in Nadine Dorries’s constituency is demanding she resigns as an MP “immediately”, saying “residents desperately need effective representation now”.
The former culture secretary announced on 9 June that she was standing down as an MP “with immediate effect”, just ahead of her close ally Boris Johnson’s own exit from parliament.
But she still hasn’t formally resigned and remains the representative for Mid-Bedfordshire.
In a terse letter to Ms Dorries, Flitwick Town Council said the issue had been raised at a recent meeting, and councillors wanted her to “immediately vacate” her seat to allow a by-election.
“Rather than representing constituents, the council is concerned that your focus appears to have been firmly on your television show, upcoming book and political manoeuvres to embarrass the government for not appointing you to the House of Lords,” wrote the council’s town clerk, Stephanie Stanley.
“With an estimated population of 13,800 people, Flitwick represents the largest concentration of voters in the Mid-Bedfordshire constituency.
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“Our residents desperately need effective representation now, and Flitwick Town Council calls on you to immediately vacate your seat to allow a by-election.”
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Nadine Dorries spoke to Sky News after her resignation.
The town mayor, Councillor Andy Snape, said demands had been growing across the community for Ms Dorries to “do the right thing rather than continue to hold the people of Mid-Bedfordshire to ransom while she plays political games for personal gain”.
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He claimed the MP had not held a surgery in the town since March 2020 and had not maintained a constituency office “for a considerable time”.
Councillor Snape also said her “absence and lack of interest/contribution” had held back local projects, as he hit out at her living in the Cotswolds rather than in her constituency.
In a statement on social media, he added: “It’s the job of our MP to represent the views of Mid-Bedfordshire constituents in parliament and hold the government accountable, pushing for positive changes to policy and legislation.
“In my personal opinion, Dorries hasn’t done this.
“Her focus appears to be firmly on her TalkTV show, her new Daily Mail column, and, more recently, her upcoming tell-all book and exerting as much pressure as possible to embarrass the government into giving her a peerage.
“Regardless of your political viewpoint, Mid-Bedfordshire residents desperately need representation at Westminster. It’s time for Dorries to put Mid-Bedfordshire first and let someone else have a go.”
Image: Nadine Dorries is a close ally of former prime minister Boris Johnson.
Ms Dorries announced her resignation last month, just hours before Mr Johnson quit in protest to the Privileges Committee findings – ruling he deliberately mislead parliament over lockdown breaking parties in Downing Street.
At the time, she said a “new life is opening up” in front of her, so it was the right time to step down.
However, rumours swelled that she had been in line for a peerage and was cut from Mr Johnson’s resignation honours list at the last minute to ensure it got the sign off from the current incumbent in Number 10.
In the following days, Ms Dorries said she would not formally resign until after she got answers from Downing Street about why she did not get her peerage.
“It is absolutely my intention to resign,” she tweeted. “But given what I know to be true and the number of varying and conflicting statements issued by Number 10 since the weekend, this process is now sadly necessary.”
The delay to her exit has drawn criticism from all over the House, with the Tory chair of the public administration and constitutional affairs committee referring to her as the “lingering member for Mid-Bedfordshire”.
We have contacted Ms Dorries for a response to the town council’s letter.
The Mid Bedfordshire Conservative Association had no comment on the row, telling Sky News: “This letter was addressed to Nadine, and therefore a matter for her.”
Aave Labs became one of the first major decentralized finance (DeFi) projects to secure authorization under Europe’s new Markets in Crypto-Assets (MiCA) regulation, allowing the company to offer regulated stablecoin ramps across the European Economic Area (EEA).
The approval enables “Push,” Aave Labs’ fiat-to-crypto service, to let users convert between euros and crypto assets, including the Aave protocol’s native stablecoin, GHO. The Central Bank of Ireland granted the authorization to Push Virtual Assets Ireland Limited, a wholly-owned subsidiary of Aave Labs.
The company selected Ireland for its European operations, signaling that the country is becoming a preferred hub for compliant onchain finance under MiCA. On June 25, the crypto exchange Kraken secured its MiCA authorization in Ireland, allowing it to expand its offerings across Europe.
The move came as global stablecoin supply surpassed $300 billion in 2025, signaling strong demand for fiat-pegged crypto assets. At the time of writing, CoinGecko data showed that the total stablecoin market cap across the crypto sector was at $312 billion.
Top stablecoins by market capitalization. Source: CoinGecko
Aave’s Push opens regulated access to GHO and other stablecoins
With its MiCA approval secured, Push will offer regulated on and off-ramps to GHO and other stablecoins integrated in Aave’s product suite.
According to Aave’s announcement, the conversion fees are set to zero, which is a competitive rate compared to the typical fee structure across legacy fintech providers and centralized exchanges (CEXs).
While the protocol introduced the product as a “zero-fee” solution, it did not specify whether this fee structure was permanent or tied to an introductory period.
Aave Labs said a compliant payment infrastructure is foundational to developers hoping to onboard mainstream users into DeFi.
By providing a predictable, audited pathway between euros and crypto assets, Push could reduce one of the biggest frictions in DeFi adoption: the dependence on CEXs for fiat-to-crypto conversions.
The ability for a DeFi-native organization to run a compliant fiat bridge represents a meaningful shift as the protocol supports tens of billions in stablecoin liquidity.
According to DefiLlama, Aave processed a volume of $542 million in the last 24 hours alone. The data aggregator also showed that the total value of assets borrowed by users from Aave’s lending pools exceeds $22.8 billion.
The acting chair of the Federal Deposit Insurance Corporation (FDIC), the regulatory body overseeing banks in the US, is reportedly considering guidance for tokenized deposit insurance and plans to launch an application process for stablecoins by year’s end.
Acting FDIC Chair Travis Hill, who has made bullish statements about tokenization in the past, told the Federal Reserve Bank of Philadelphia’s Fintech Conference on Thursday that the regulator will eventually release guidance around tokenized deposit insurance, according to reports.
The FDIC protects depositors in the event of a bank failure and insures money in accounts at banks that are insured by the regulator.
“My view for a long time has been that a deposit is a deposit. Moving a deposit from a traditional-finance world to a blockchain or distributed-ledger world shouldn’t change the legal nature of it,” Hill said, as reported by Bloomberg.
Excluding stablecoins, the total value of tokenized real-world assets surpassed $24 billion in the first half of the year, with private credit and US Treasurys making up the bulk of the market, according to a report by RedStone.
BlackRock, the world’s largest asset manager, is one of the most prominent players in the space and launched a tokenized money market fund called BUIDL in 2024.
Stablecoin application regime by the end of the year
At the same time, Hill reportedly announced the agency is also working on a regime for stablecoin issuance and expects to issue a proposal for an application process by the end of 2025 as part of its duties in crafting rules under the GENIUS Act, according to Law360.
He said it’s still too early to know how many institutions will be interested, but the FDIC staff is working on the standards around capital requirements, reserve requirements and risk management for FDIC-regulated stablecoin issuers.
Stablecoins have also been a high-growth area, with banks worldwide exploring this technology. The market capitalization of stablecoins is approximately $305 billion as of Friday, according to blockchain analytics platform DefiLlama.
Stablecoins have been a high-growth area this year, with a market capitalization of around $305 billion. Source: DefiLlama
Sir Keir Starmer and Rachel Reeves have scrapped plans to break their manifesto pledge and raise income tax rates in a massive U-turn less than two weeks from the budget.
I understand Downing Street has backed down amid fears about the backlash from disgruntled MPs and voters.
The Treasury and Number 10 declined to comment.
The decision is a massive about-turn. In a news conference last week, the chancellor appeared to pave the way for manifesto-breaking tax rises in the budget on 26 November.
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‘Aren’t you making a mockery of voters?’
The decision to backtrack was communicated to the Office for Budget Responsibility on Wednesday in a submission of “major measures”, according to the Financial Times.
The chancellor will now have to fill an estimated £30bn black hole with a series of narrower tax-raising measures and is also expected to freeze income tax thresholds for another two years beyond 2028, which should raise about £8bn.
Tory shadow business secretary Andrew Griffith said: “We’ve had the longest ever run-up to a budget, damaging the economy with uncertainty, and yet – with just days to go – it is clear there is chaos in No 10 and No 11.”
How did we get here?
For weeks, the government has been working up options to break the manifesto pledge not to raise income tax, national insurance or VAT on working people.
I was told only this week the option being worked up was to do a combination of tax rises and action on the two-child benefit cap in order for the prime minister to be able to argue that in breaking his manifesto pledges, he is trying his hardest to protect the poorest in society and those “working people” he has spoken of so endlessly.
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Ed Conway on the chancellor’s options
But days ago, officials and ministers were working on a proposal to lift the basic rate of income tax – perhaps by 2p – and then simultaneously cut national insurance contributions for those on the basic rate of income tax (those who earn up to £50,000 a year).
That way the chancellor can raise several billion in tax from those with the “broadest shoulders” – higher-rate taxpayers and pensioners or landlords, while also trying to protect “working people” earning salaries under £50,000 a year.
The chancellor was also going to take action on the two-child benefit cap in response to growing demand from the party to take action on child poverty. It is unclear whether those plans will now be shelved given the U-turn on income tax.
A rough week for the PM
The change of plan comes after the prime minister found himself engulfed in a leadership crisis after his allies warned rivals that he would fight any attempted post-budget coup.
It triggered a briefing war between Wes Streeting and anonymous Starmer allies attacking the health secretary as the chief traitor.
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Wes Streeting: Faithful or traitor? Beth Rigby’s take
But the saga has further damaged Sir Keir and increased concerns among MPs about his suitability to lead Labour into the next general election.
Insiders clearly concluded that the ill mood in the party, coupled with the recent hits to the PM’s political capital, makes manifesto-breaking tax rises simply too risky right now.
But it also adds to a sense of chaos, given the chancellor publicly pitch-rolled tax rises in last week’s news conference.