Labour Party leader Sir Keir Starmer’s vision ‘not bold enough’ to lead Britain out of ‘crisis’, union chiefs say

Published

2 years ago

September 11, 2023

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Union leaders have urged Sir Keir Starmer to be bolder with his vision for the country if he wants to win the next election and lead Britain out of decline.

In a message to the potential future incumbent of Downing Street, union chiefs said the Labour leader needed to offer a more positive message than simply being “better than the Conservatives”.

The choice words were delivered at the Trades Union Congress (TUC) annual conference in Liverpool, where issues like workers’ rights, the state of public services and the cost of living crisis are being hotly debated.

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Paul Novak, the new general secretary of the TUC, delivered a rousing speech on Monday, claiming the Conservatives have “broken Britain” and calling for change in the form of a Labour government.

But while Labour traditionally enjoys the support of unions, the party’s perceived move to the centre, with a focus on fiscal Conservatism, has attracted anger among the movement.

Sharon Graham, leader of Labour’s biggest union donor Unite, has accused the party of becoming a “1990s tribute act” to former prime minister Tony Blair.

Despite winning three elections, she told Sky News that Sir Keir’s leadership needs to be more radical than then because there is less money in the public coffers to spend – and options such as wealth taxes and nationalising energy should be considered to raise capital.

In a reference to the post-war Labour government of Clement Attlee, which founded the NHS, she said: “Britain is in crisis. And what we need to do now is not to look back to 1997.

“What we need to do is be more like in 1945. The country needs a reboot and Labour needs to put policies forward that give it that reboot.”

That sentiment was echoed by the leader of the PCS union that represents civil servants.

Mark Serwotka, a Labour member, said Sir Keir needs to offer a vision for people to vote for Labour “that is more than just ‘we’re better than the Conservatives'”.

He told Sky News: “Britain is in crisis. We’ve got people waiting for 15 hours in ambulances, schools being shut through crumbling concrete, a 180,000 backlog of asylum cases because of lack of staff and incredibly £45bn in uncollected tax because we don’t have enough staff in tax offices. A crisis needs urgent and radical action.”

Mr Serwotka called on Labour to offer things like free school meals, a record investment in public services and a clamp down on tax evasion.

He denied “singing from a different hymn sheet” to Mr Nowak, who urged the trade union movement to unite behind Labour “to kick this rotten government out”.

Mr Serwotka insisted: “I want to see a Labour government, but I don’t want to see a Labour government that comes in and tells people that they’ve ‘still got to live in poverty, there’s nothing much we can do about it’.

“The point of a Labour government is to offer hope to those currently in despair. And the way to do that is to say ‘we will be bold, we will invest in our communities’.”

In a direct challenge to the Labour leader, he added: “If I had the chance to talk to Keir Starmer, I would say to him, enthuse those voters who didn’t vote Labour last time. Tell them why you would make a difference to their lives and you can win an election. But if you only rely on not being a Conservative, you risk winning the election. So be bold.”

Starmer: Labour ‘absolutely focused on future’

After more than a decade out of power, Sir Keir is hoping to become the first Labour prime minister to win at the ballot box since Mr Blair – who secured two more terms after his landslide victory in 1997.

He has sought to rebuild the party focusing on a more centrist style than his predecessor, Jeremy Corbyn, and has stressed the need for fiscal Conservatism amid bleak warnings about the state of the UK economy.

In recent months, he has rowed back on a number of big spending commitments, arguing Labour will only get into government if they are trusted to handle the public finances.

However, he insisted there is still “a lot of common ground” with trade unions when asked about the criticism.

Speaking ahead of a dinner with union leaders in Liverpool tonight, Sir Keir said: “The Labour Party is absolutely focused on the future, not the past, and the challenges that we will inherit if we’re privileged enough to go into government.

“The central challenge will be growing the economy. Within that is dignity and respect for working people in their working environment.”

Asked how he plans to keep unions on side, he added: “The Labour Party and the trade unions have had a long relationship together and we had a big session at the beginning of the summer where we agreed policy going forward.

“So what you’ll see here is a lot of common ground as we go towards what we know will be really huge challenges.”

Politics

Democrats aim at Trump’s crypto profits with a 3-prong pincer move

Published

2 hours ago

May 7, 2025

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Democrats aim at Trump’s crypto profits with a 3-prong pincer move

US Democrat lawmakers have launched a multi-angle attack on President Donald Trump’s crypto ventures with two bills and a subcommittee inquiry aimed at cutting his ability to profit from the initiatives.

The Modern Emoluments and Malfeasance Enforcement Act, or the MEME Act, aims to prevent federal officials from using their position to profit from memecoins, Democrat Senator Chris Murphy said in a May 6 statement.

If passed, the MEME Act prohibits the president, vice president, members of Congress, senior executive branch officials, their spouses and children from issuing, sponsoring, or promoting a security, future, commodity, or digital asset, according to the bill’s description.

Today I’m introducing a bill – the MEME Act – to ban a President or Member of Congress from issuing a meme coin.

The Trump Coin is the biggest corruption scandal in the history of the White House. @RepLiccardo and I are determined to put an end to this corruption – for good. pic.twitter.com/nQL9ZfIYYV

— Chris Murphy 🟧 (@ChrisMurphyCT) May 6, 2025

Violators could face civil penalties of up to $250,000 and be required to fork over any profits to the US Treasury. Criminal penalties could also apply, including fines and up to five years behind bars.

US Representative Sam Liccardo, another Democrat, introduced companion legislation in the House of Representatives. However, Trump’s party, the Republicans, controls both chambers, and the legislation will need Republican support.

Meanwhile, Democratic Senator Richard Blumenthal, a ranking member of the Permanent Subcommittee on Investigations (PSI), said in a May 6 statement that the committee is opening a preliminary inquiry into the Official Trump (TRUMP) token, Trump-backed platform World Liberty Financial (WLFI), and other associated business ventures.

As part of the inquiry, the PSI sent letters to the company behind the Trump coin, Fight Fight Fight, and WLFI, asking for records and communications between the companies and the Trump organization.

With his cryptocurrency schemes, Trump is putting a for sale sign in front of the White House. That’s why, as Ranking Member of the Permanent Subcommittee on Investigations, I’m launching an inquiry into this brazen corruption whose scope & scale is staggering. pic.twitter.com/3SiaCrthN8

— Richard Blumenthal (@SenBlumenthal) May 6, 2025

At the same time, Blumenthal says the subcommittee is asking for answers about what steps the firms have taken to address possible conflicts of interest.

Main points of interest flagged by the PSI include fees the president is making on the TRUMP token and the nearly 50% spike in value from $9.40 to $13.65 after the TRUMP coin website announced on April 23 that the top 220 holders of the token would be invited to a gala dinner at the White House.

Soon after launch on Jan. 18, the Trump coin hit its all-time high of $73.43, according to CoinGecko. However, it has since lost 85% of its value and is trading for $11.13.

More than half of TRUMP holders in profit

Roughly two million wallets have bought TRUMP, with an extra 54,000 adding the token to their stash after the dinner announcement, according to data shared with Cointelegraph from blockchain analysis firm Chainalysis.

Around 764,000 of these, most with small holdings, lost money on the coin, while the 58 investors in the token have made profits of over $10 million each, totaling an estimated $1.1 billion.

At the same time, Chainalysis says the memecoin creator has made $320 million so far, with an extra $1.3 million coming in since the White House dinner announcement.

Meanwhile, a trucking logistics firm announced plans on April 30 to build a TRUMP coin treasury through a $20 million convertible note issuance.

Javier Selgas, CEO of Freight Technologies, said the tokens are an “excellent way to diversify our crypto treasury and also an effective way to advocate for fair, balanced, and free trade between Mexico and the US.”

The firm also acquired $5.2 million of the Fetch.ai network’s utility token FET on April 1.

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Politics

South Korea presidential front-runner pledges to approve Bitcoin ETFs

Published

4 hours ago

May 7, 2025

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South Korea presidential front-runner pledges to approve Bitcoin ETFs

South Korea’s Democratic Party leader Lee Jae-myung has reportedly become the latest presidential candidate to promise the approval of spot crypto exchange-traded funds (ETFs) and other crypto-friendly measures, should he be elected.

Lee announced his crypto promises on May 6 as part of a broader initiative to provide more investment opportunities for Korea’s youth, one of the main target demographics for the fast-approaching June 3 election.

“I will create a safe investment environment so that young people can [build] assets and plan for the future,” The Korea Economic Daily (KED) quoted Lee as saying in Korean.

He also promised the legalization of spot crypto ETFs, lower transaction fees, and more consumer protection measures.

Lee’s Democratic Party of Korea is the favorite to win the presidential election with 42% support, according to a survey conducted by Korea’s National Barometer Survey between April 24 and 30. Korea’s acting president, Han Duck-soo, came in second at 13%.

This is the first time Lee has mentioned crypto as part of his presidential campaign, KED noted.

The Democratic Party made similar promises in its 2024 general election campaign, including passing spot crypto ETF legalization. However, progress stalled, KED said.

South Korea’s People Power Party makes similar promises

South Korea’s ruling party, the People Power Party, also reportedly made crypto policy promises in late April, which included allowing spot crypto ETFs, dismantling Korea’s controversial one-exchange-one-bank rule, and establishing a regulatory framework for stablecoins.

The one-exchange-one-bank rule in South Korea is a regulation that limits each crypto exchange to working with only one local bank. It is intended to prevent money laundering and strengthen transparency by ensuring that the identities of crypto investors can be verified when trading crypto.

South Korean industry officials estimate that 16 million or 31% of the country’s 51.7 million people have access to a crypto account.

Kim Moon-soo is running as the People Power Party’s candidate — a party previously led by Yoon Suk Yeol, who was impeached after he declared martial law in December.

The controversial measure triggered a considerable fall in Bitcoin (BTC), Ether (ETH), and other cryptocurrencies. However, most coins recovered when the martial law was lifted around six hours later.

Korea’s Constitutional Court upheld the impeachment of Yoon in a unanimous 8–0 decision decision on April 4, effectively removing him from office.

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Politics

US regulator moves to drop appeal against Kalshi

Published

8 hours ago

May 7, 2025

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US regulator moves to drop appeal against Kalshi

The US Commodity Futures Trading Commission (CFTC) is seeking permission from the court to drop an appeal against prediction market Kalshi. The move could allow the platform to offer political event contracts to users without contest.

In a May 5 filing in the US Court of Appeals for the District of Columbia Circuit, lawyers for the CFTC filed an unopposed motion for voluntary dismissal, suggesting an agreement with Kalshi. The motion, subject to approval by the court, could end the CFTC’s appeal against a federal court ruling that the financial regulator could not bar Kalshi from listing political event contracts, i.e., bets on elections.

Law, Betting, CFTC, Court — *Motion to dismiss appeal filed by the CFTC on May 5. Source:* *Courtlistener*

Kalshi stipulated in a joint filing that the company would “bear its own costs, court fees and attorney fees incurred” if the court granted the CFTC’s motion to dismiss. The platform said that “election markets are here to stay” in a May 6 X post following the filing.

The betting platform initially filed a lawsuit against the CFTC in 2023 in response to the regulator ordering Kalshi to stop offering political event contracts. The company won in the lower court, prompting the appeal by the CFTC in September 2024.

Motion to drop the appeal after the change in administration?

The case was handled mainly before the US election and the appointment of acting CFTC chair Caroline Pham under President Donald Trump. CFTC Commissioner Summer Mersinger, nominated by former President Joe Biden, reportedly echoed Kalshi’s sentiment in February, claiming that election prediction markets were “here to stay.”

Launched in 2021, Kalshi became popular among many crypto users in part due to bets related to the 2024 US election. Though the CFTC argued in its appeal that betting on the elections could result in “spectacular manipulation” of markets and harm to the public interest, the regulator under Pham and Trump appeared to have reversed its position with the motion to dismiss.

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