The career of Education Secretary Gillian Keegan looks precarious following the sudden disruption of the start of the school year.
After days of hesitation, the government confirmed last week that RAAC concrete – which can cause buildings to collapse – has been identified in 146 schools, of which at least 43 were unable to begin face-to-face education as normal.
Potentially thousands more schools, as well as other public buildings, may be affected.
Ms Keegan’s handling of the situation has not endeared her to her colleagues or the general public.
In spite of receiving warnings over months, if not years, she gave schools no notice before announcing – just days before children returned after the holidays – that they would have to shut facilities immediately.
As the controversy raged she was on holiday, unavailable for interview and, allegedly, unable to return from one of her homes in Spain because of the air traffic control breakdown.
She made things worse for the government when she got back to Westminster.
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On camera for a TV interview, she let off a four-letter strewn tirade, complaining: “Does anyone ever say you’ve done a f***ing good job, because everyone else has sat on their a*** and done nothing?”. Later she laughed when the footage was played back to her on Sky News.
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Gillian Keegan watches clip of herself swearing
Meanwhile, there were reports that she “blindsided” fellow ministers with her drastic announcement. Labour raised questions about a recent £34m revamp of the Department for Education headquarters and about £1m from the schools rebuilding fund paid to a company linked to her husband.
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Yet in comparison to previous hue and cry against other beleaguered ministers, Ms Keegan seems to be getting off lightly.
The Labour leadership has not yet demanded her sacking or resignation. This appears to be less of a comment on her performance than an expression of exasperation that her departure would not make much difference.
10 education secretaries in 13 years
There have been no less than, a shocking, 10 secretaries of state for education in the 13 years since the Conservatives took power in 2010. Would another one now make much difference to the state of schools?
Naming the 10 education secretaries is too difficult for a pub quiz or an A-level politics exam. In order they have been: Michael Gove, Nicky Morgan, Justine Greening, Damian Hinds, Gavin Williamson, Nadhim Zahawi, Michelle Donelan, James Cleverly, Kit Malthouse and Ms Keegan.
On average each minister has not stuck around long enough for a child to complete two years of primary or secondary school.
Given that politicians of all hues never tire of telling us that children are our the nation’s future, this turmoil betrays an extraordinarily neglectful attitude to ensuring a stable environment for children to acquire the life skills they need.
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In further evidence of carelessness in this policy area, there have also been 10 ministers responsible for higher education and universities since 2010. Jo, now Lord, Johnson fulfilled the role for two separate terms.
Much of the rapid turnover is down to the rolling chaos of four prime ministers in the past five years.
All were determined to appoint a team loyal to them, as each positioned themselves in the raging Tory ideological civil wars. Since Boris Johnson took over in 2019 there have been six education secretaries.
The Department for Education is one subject to systemic instability during these Tory governments.
Since David Cameron became prime minister there have been 12 culture secretaries – including Michelle Donelan and Ms Morgan who also had goes at education, and 11 lord chancellors in charge of the justice system – including Mr Gove.
Job seen as stepping stone
The roster in those posts regarded as more senior has stayed in single figures: is now the eight foreign secretaries (including former education secretary Mr Cleverly), seven defence secretaries (including Mr Williamson) and five home secretaries (Suella Braverman has been appointed twice).
This gives away which jobs ambitious politicians really want. A stint as education secretary is increasingly being regarded as merely a stepping stone to something better.
The revolving door at the Department for Education has been spinning faster and faster, leaving some secretaries of state barely time to locate the toilets.
Education has seldom been treated as a key department but there is no modern precedent for the recent turmoil. A minority of education secretaries on both sides have even displayed genuine interest and left a mark on the education system they are supposed to oversee.
As a member of the wartime coalition cabinet, the Conservative R A Butler enacted the blueprint for education reform in the UK from 1945 onward. From 1950, the last time before this when the Conservatives were in power for 13 years, only six people held the job.
Labour’s Harold Wilson needed just four in his first seven-year government and only three in the five years he shared with Jim Callaghan second time round. Anthony Crosland and Shirley Williams are remembered for their implementation of comprehensive schools to replace grammars and secondary moderns.
In between those two Labour governments, the Conservative prime minister Ted Heath’s sole education secretary was Margaret Thatcher, ultimately to his regret.
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Headteacher’s anger at clip of minister swearing
She too shut a lot of grammars and abolished free school milk for children. In government for 18 years, she and John Major only appointed seven.
Kenneth Baker was the most notable reforming secretary of state, introducing standard attainment tests in primary schools.
There were six in new Labour’s 13 years from 1997 to 2010. David Blunkett was the first blind cabinet minister. He brought in university tuition fees and took on the teaching unions in support of Mr Baker’s basic standards.
Estelle Morris deserves special mention for resigning voluntarily after just one year saying she didn’t feel up to it after failing to hit literacy and numeracy targets.
Education secretary for a mere 36 hours
What of the current Tory 10?
Ms Donelan is back in the cabinet as science secretary in spite of holding the all-time record for the shortest ever cabinet post. She was education secretary for a mere 36 hours – collateral damage in the Tory implosion last summer when Mr Johnson appointed a new cabinet after he had been forced to quit.
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What is the concrete crisis?
Also leaving no impression on schools beyond uncertainty in the Johnson-Truss-Sunak interregnum: Mr Cleverly who did two months as Mr Johnson’s education caretaker, Mr Malthouse who served Ms Truss, and Mr Zahawi, who was dropped in for 10 months after Mr Johnson sacked Mr Williamson, who had previously been sacked as defence secretary. Mr Johnson brought him back to education.
Mr Williamson’s handling of schools and exams during the pandemic resulted in several U-turns and was heavily criticised. Mr Hinds paid attention to Catholic education. His 18 months as education secretary were ended abruptly by Mr Johnson.
Ms Morgan and Ms Greening were each in the job for about two years. They were both made women and equalities minister at the same time.
This left the impression that their bosses regarded both portfolios dismissively as not really proper jobs, best given to women. Both fell foul of the pro-Brexit leadership. Ms Greening was purged from the party and now campaigns on social mobility. Ms Morgan survived and is in the House of Lords, where she chairs the committee on public commemoration of COVID.
Confronting ‘the left-wing blob’
Mr Gove was the first, the longest serving, and the most significant of these Tory education secretaries. UK school pupils are now higher up international tables for literacy and numeracy. Conservatives give Mr Gove credit for his insistence on conventional teaching methods.
He was the first elected politician to bring the radical campaigner Dominic Cummings, later called a “career psychopath” by David Cameron, into government as an aide.
Image: Levelling up Secretary Michael Gove was education secretary in David Cameron’s cabinet
Mr Gove and Mr Cummings promoted free schools and academies and confronted what they called “the left-wing blob”. The teaching unions voted no confidence in Mr Gove. In 2014, ahead of the approaching general election, Mr Cummings resigned amid controversy about his behaviour towards colleagues. Mr Gove was demoted – for the time being.
In one of his first acts as education secretary, Mr Gove cancelled the previous Labour government’s “Building for the Future” schools regeneration scheme.
The opposition are pointing to that as the source of failure to deal with RAAC concrete in school buildings. Ms Keegan is carrying burdens passed on to her by her nine Conservative predecessors. In her terms probably more of them “sat on their a***s” than did a “f***ing brilliant job”. That may be the best reason for Mr Sunak to keep her on as education secretary.
The US Nasdaq stock exchange is making SEC approval of its proposal to offer tokenized versions of stocks listed on the exchange a top priority, according to the exchange’s crypto chief.
“We’ll just move as fast as we can,” Nasdaq’s head of digital assets strategy, Matt Savarese, said during an interview with CNBC on Thursday, when asked whether the SEC could approve the proposal this year.
“I think what we have to really evaluate where the public comments come back in and then answer and respond to the SEC questions as they come through,” Savarese said. “We hope to kind of work with them as quickly as possible,” Savarese said.
Savarese says Nasdaq isn’t “upending the system”
The proposal, submitted by Nasdaq on Sept. 8, is requesting to allow investors to buy and sell stock tokens — digital representations of shares in publicly traded companies — on the exchange.
Savarese emphasized that Nasdaq is not trying to overhaul the way stocks are invested in when asked whether he expects other major exchanges to follow suit.
Nasdaq’s head of digital assets, Matt Savarese, spoke to CNBC on Thursday. Source: CNBC
“We’re not looking at upending the system; we want everyone to come along for that ride and bring tokenization more into the mainstream,” he said.
“We want to do it in that responsible investor-led way first, under the SEC rules themselves,” he added.
It was only in October that Robinhood CEO Vlad Tenev said that tokenization will “eventually eat the whole financial system.”
The crypto industry is divided on tokenized equities
Savarese emphasized that Nasdaq is aiming to be an innovator in the ecosystem, noting that the exchange was the first to transition markets from paper-based trading to electronic systems.
Tokenizing stocks has been one of the most significant talking points in the crypto industry this year.
On Sept. 3, Galaxy Digital CEO Mike Novogratz said the company became the first Nasdaq-listed company to tokenize its equity on a major blockchain following its launch on the Solana network.
The conversation around tokenized equities has also drawn skepticism from the crypto industry.
On Oct. 1, Rob Hadick, general partner at crypto venture firm Dragonfly, told Cointelegraph that tokenized equities will be a significant benefit to traditional markets, but may not be a boon to the crypto industry as others have predicted.
Hadick said that if tokenized stocks use layer-2 networks, it creates “leakage” as value and may not flow back to Ethereum or the broader crypto ecosystem as much as hoped.
Hester Peirce, a commissioner of the United States Securities and Exchange Commission (SEC) and head of the SEC’s Crypto Task Force, reaffirmed the right to crypto self-custody and privacy in financial transactions.
“I’m a freedom maximalist,” Peirce told The Rollup podcast on Friday, while saying that self-custody of assets is a fundamental human right. She added:
“Why should I have to be forced to go through someone else to hold my assets? It baffles me that in this country, which is so premised on freedom, that would even be an issue — of course, people can hold their own assets.”
SEC commissioner Hester Peirce discusses the right to self-custody and financial privacy. Source: The Rollup
Peirce added that online financial privacy should be the standard. “It has become the presumption that if you want to keep your transactions private, you’re doing something wrong, but it should be exactly the opposite presumption,” she said.
Many large Bitcoin (BTC) whales and long-term holders are pivoting from self-custody to ETFs to reap the tax benefits and hassle-free management of owning crypto in an investment vehicle.
“We are witnessing the first decline in self-custodied Bitcoin in 15 years,” Dr. Martin Hiesboeck, the head of research at crypto exchange Uphold, said.
Hiesboeck attributed the shift to the SEC approving in-kind creations and redemptions for crypto ETFs in July, which allowed authorized holders to exchange crypto for ETF shares and vice versa without triggering a taxable event, unlike cash-settled ETFs.
“A move away from the self-custody mantra of ‘not your keys, not your coins’ is another nail in the coffin of the original crypto spirit,” Hiesboeck added.
Jeremy Corbyn has declined to say his Your Party co-founder Zarah Sultana is a friend as supporters of the new grouping gather in Liverpool.
Speaking to Sky News on the eve of the conference, Mr Corbyn acknowledged “stresses and strains” in the set-up of the party but said it had become “a lot better in the last few days and weeks and we’re going to get through this weekend”.
The former Labour leader has publicly clashed with Ms Sultana, the MP for Coventry South, over the launch and structure of the new party.
Asked if they were friends, Mr Corbyn said they were “colleagues in parliament, and we obviously communicate and so on”.
The pair appeared at separate events on the eve of the party’s inaugural gathering.
Ms Sultana had previously claimed she was being “sidelined” by a “sexist boys’ club” within the fledgling party.
Mr Corbyn said her comments were an “unfortunate choice of words” but added that he had been more involved in the organisation of the conference than she had.
Image: The co-founders have had a strained relationship since setting up the party. Pic: Your Party
The Islington North MP also said that Your Party was still waiting for Ms Sultana to transfer all of the funds she had raised from supporters.
“Obviously having money up front for a conference is a big help,” he said.
Ms Sultana has insisted she is transferring the donations in stages.
The weekend gathering in Liverpool will see supporters choose between four options for a permanent party name: Your Party, Our Party, Popular Alliance, For the Many.
The preferred choice of Ms Sultana – The Left – did not make the ballot.
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Similarly, the Coventry MP had said she favoured a co-leader approach, but members will only be able to pick between single leadership or collective leadership models.
Speaking at her own pre-conference rally, Ms Sultana blamed a “nameless, faceless bureaucrat” for restricting the choices.
The meeting also risked being disrupted by a series of member expulsions. One of those ejected, Lewis Nielsen, accused a “clique” of trying to “take over”.
Your Party sources said expulsions related to members of the Socialist Workers Party and that holding another national party membership was not allowed.
Ms Sultana blamed a “culture of paranoia at the top” and said she believed the same people who had been briefing against her were now also expelling members.
Mr Corbyn will open the conference on Saturday, while the results of the main decision-making votes will be announced on Sunday.