‘Nothing works anymore’: Tories accused of having ‘broken Britain’ with public services ‘in crisis’

Published

2 years ago

September 11, 2023

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The Conservatives will be accused of having “broken Britain” in a keynote speech by the new leader of the Trades Union Congress (TUC) attacking the state of the economy and public services.

In his first speech as head of the union federation, Paul Nowak will highlight that “nothing works in this country anymore and no one in government cares”.

He will point to problems such as sewage in the rivers and the school concrete fiasco as proof that the country needs “urgent political change”.

Politics Live: Ex-Tory compares running government to fish and chip shop

Addressing union delegates in his home city of Liverpool, Mr Nowak will say on Monday: “Nothing works in this country anymore and no one in government cares. The Conservatives have broken Britain.

“They’ve had 13 years to sort out crumbling concrete in our schools. But five days before the new term they tell schools they can’t open.

“Because – and I quote the education secretary – everyone is ‘on their arses’.

“Could you think of a more perfect metaphor for this government? A crisis of their making, but someone else gets the blame.

“Yet, this government that can’t keep our rivers clean, or run trains on time, or run a functioning NHS can find time to attack the right to strike.”

Mr Nowak’s speech will come on the second day of the annual TUC conference which opened in Liverpool on Sunday.

The event kicked off with Mr Nowak announcing in a news conference that he is reporting the government to the UN’s workers’ rights watchdog over its controversial “anti-strikes” legislation.

Unions ‘will fight anti-strikes law on picket line’

The Strikes (Minimum Service Levels) Bill seeks to ensure a legally mandated level of service across key sectors like the NHS during a strike, and will allow bosses to fire employees who ignore notices ordering them to work on strike day.

The government has said the purpose of the legislation is to protect lives and ensure people can continue to access vital public services during strikes.

But in his speech Mr Nowak will argue that rather than preserving services for the public, the new law is about “telling us to get back in our place and to not demand better”.

He will warn: “When the first worker is sacked for refusing to work on a strike day, we’ll fight it in workplaces and on the picket lines.

“Congress – this movement will fight it every single day until it is repealed.”

Debates about how to oppose the the legislation are expected to dominate the TUC conference, which will also hear from deputy Labour leader Angela Rayner.

Sir Keir Starmer will not address the conference but he will host a private dinner for members of the TUC general counsel on Monday.

Unions will also discuss issues like the cost of living crisis, workers’ rights and nationalising public services.

It comes after a bruising week for the Tories which saw the escape of a terror suspect turn into a political row about the state of the justice system and cuts to staffing and funding.

Meanwhile over 100 schools were forced to shut or partially shut because of collapse-prone concrete, with embattled Prime Minister Rishi Sunak facing accusations he refused to fully fund a programme of repairs while chancellor.

‘Years of austerity have left services reeling’

Unions used the two crises’ to argue the Conservative governments’ austerity agenda had left public services reeling as they opened four days of debate.

Listing problems in the public sector Unison general secretary Christina McAnea said: “The longest NHS waiting lists in history, huge cuts to police forces and councils going bust. Care services are unable to deliver for patients, their families, or the workforce, but generate huge profits for offshore private equity trusts.

“Inmates are escaping overcrowded prisons and unsafe schools are crumbling, although you can bet Eton, Winchester and Harrow won’t be among them.

“Workers across all public services, and everyone who relies on them, can see austerity has fractured and smashed the economy.”

In a scathing attack on Westminster leaders she added: “This is the most venal, corrupt, inept government I can remember.”

Labour ‘must be more like Atlee in 1945’

The conference follows a year of unprecedented industrial action by hundreds of thousands of workers including nurses, teachers, civil servants and railway staff.

Unions are calling for change in the form of a Labour government.

In his speech, Mr Nowak will attack the current “cabinet of millionaires” and in a ringing endorsement of Sir Keir Starmer say: “When the time comes I will tell anyone who ask: vote for working people, vote for change, vote for the party we named for our movement. Vote Labour.”

But while Labour traditionally enjoys the support of trade unions, others had some choice words for the potential future incumbent of Downing Street.

Mark Serwotka, leader of the Public and Commercial Services union, called on Labour to commit to a radical programme of investment to tackle low pay, homelessness, under-staffing in prisons, library closures and “crumbling” school buildings.

Sharon Graham, leader of Labour’s biggest union donor Unite, accused the party of becoming a “1990s tribute act” – a reference to its last time in office under Tony Blair.

She said 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 told Sky News: “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.”

Politics

EU could fine Elon Musk’s X $1B over illicit content, disinformation

Published

3 hours ago

April 4, 2025

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EU could fine Elon Musk’s X B over illicit content, disinformation

European Union regulators are reportedly mulling a $1 billion fine against Elon Musk’s X, taking into account revenue from his other ventures, including Tesla and SpaceX, according to The New York Times.

EU regulators allege that X has violated the Digital Services Act and will use a section of the act to calculate a fine based on revenue that includes other companies Musk controls, according to an April 3 report by the newspaper, which cited four people with knowledge of the plan.

Under the Digital Services Act, which came into law in October 2022 to police social media companies and “prevent illegal and harmful activities online,” companies can be fined up to 6% of global revenue for violations.

A spokesman for the European Commission, the bloc’s executive branch, declined to comment on this case to The New York Times but did say it would “continue to enforce our laws fairly and without discrimination toward all companies operating in the EU.”

In a statement, X’s Global Government Affairs team said that if the reports about the EU’s plans are accurate, it “represents an unprecedented act of political censorship and an attack on free speech.”

“X has gone above and beyond to comply with the EU’s Digital Services Act, and we will use every option at our disposal to defend our business, keep our users safe, and protect freedom of speech in Europe,” X’s global government affairs team said.

European Union, Elon Musk — *Source:* *Global Government Affairs*

Along with the fine, the EU regulators could reportedly demand product changes at X, with the full scope of any penalties to be announced in the coming months.

Still, a settlement could be reached if the social media platform agrees to changes that satisfy regulators, according to the Times.

One of the officials who spoke to the Times also said that X is facing a second investigation alleging the platform’s approach to policing user-generated content has made it a hub of illegal hate speech and disinformation, which could result in more penalties.

X EU investigation ongoing since 2023

The EU investigation began in 2023. A preliminary ruling in July 2024 found X had violated the Digital Services Act by refusing to provide data to outside researchers, provide adequate transparency about advertisers, or verify the authenticity of users who have a verified account.

X responded to the ruling with hundreds of points of dispute, and Musk said at the time he was offered a deal, alleging that EU regulators told him if he secretly suppressed certain content, X would escape fines.

Thierry Breton, the former EU commissioner for internal market, said in a July 12 X post in 2024 that there was no secret deal and that X’s team had asked for the “Commission to explain the process for settlement and to clarify our concerns,” and its response was in line with “established regulatory procedures.”

Musk replied he was looking “forward to a very public battle in court so that the people of Europe can know the truth.”

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set

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Coinbase Institutional files for XRP futures trading with CFTC

Published

4 hours ago

April 4, 2025

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Coinbase Institutional files for XRP futures trading with CFTC

US crypto exchange Coinbase has filed with the US Commodity Futures Trading Commission (CFTC) to launch futures contracts for Ripple’s XRP token.

“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures — bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets,” stated Coinbase Institutional on April 3.

The firm added that it anticipates the contract going live on April 21.

According to the certification filing, the XRP (XRP) futures contract will be a monthly cash-settled and margined contract trading under the symbol XRL.

The contract tracks XRP’s price and is settled in US dollars. Each contract represents 10,000 XRP, currently worth about $20,000 at $2 per token.

Contracts can be traded for the current month and two months ahead, and trading will be paused as a safety measure if spot XRP prices move more than 10% in an hour.

“The exchange has spoken with FCMs (Futures Commission Merchants) and market participants who support the decision to launch a XRP contract,” the firm stated.

Coinbase is not the first to launch XRP futures in the United States. In March, Chicago-based crypto exchange Bitnomial announced the launch of the “first-ever CFTC-regulated XRP futures in the US.”

XRP futures trading is available on many of the world’s leading centralized crypto exchanges, such as Binance, OKX, Bybit and BitMEX.

Funding rates remain negative

In late March, Cointelegraph reported that XRP derivatives’ funding rates had flipped negative as investor sentiment turned bearish.

Funding rates are periodic payments between traders in perpetual futures markets that help keep the futures price aligned with the spot price. Positive funding rates mean that long traders (buyers) pay short traders, while negative funding rates mean short traders (sellers) pay long traders.

When funding rates go negative, it means short traders are willing to pay a premium to maintain their positions, indicating strong conviction from bearish derivatives traders.

XRP funding rates remained negative on major derivatives exchanges as of April 4, according to CoinGlass.

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set

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Binance co-founder Changpeng Zhao to advise Kyrgyzstan on blockchain tech

Published

7 hours ago

April 4, 2025

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Binance co-founder Changpeng Zhao to advise Kyrgyzstan on blockchain tech

Former Binance CEO Changpeng “CZ” Zhao will begin advising the Kyrgyz Republic on blockchain and crypto-related regulation and tech after signing a memorandum of understanding with the country’s foreign investment agency.

“I officially and unofficially advise a few governments on their crypto regulatory frameworks and blockchain solutions for gov efficiency, expanding blockchain to more than trading,” the crypto entrepreneur said in an April 3 X post, adding that he finds this work “extremely meaningful.”

His comments came in response to an earlier X post from Kyrgyzstan President Sadyr Zhaparov announcing that Kyrgyzstan’s National Investment Agency (NIA) had signed a memorandum with CZ to provide technical expertise and consulting services for the Central Asian country.

The NIA is responsible for promoting foreign investments and assisting international companies in identifying business opportunities within the country.

“This cooperation marks an important step towards strengthening technological infrastructure, implementing innovative solutions, and preparing highly qualified specialists in blockchain technologies, virtual asset management, and cybersecurity,” Zhaparov said.

The Kyrgyzstan president added: “such initiatives are crucial for the sustainable growth of the economy and the security of virtual assets, ultimately generating new opportunities for businesses and society as a whole.”

Kyrgyzstan, which officially changed its name from the Republic of Kyrgyzstan to the Kyrgyz Republic in 1993, is a mountainous, land-locked country.

It is considered well-suited for crypto mining operations due to its abundant renewable energy resources, much of which is underutilized.

Over 30% of Kyrgyzstan’s total energy supply comes from hydroelectric power plants, but only 10% of the country’s potential hydropower has been developed, according to a report by the International Energy Agency.

CZ has met with several other state officials in Asia

Malaysia also recently tapped CZ for guidance on crypto-related matters, with Prime Minister Anwar Ibrahim meeting him personally in January.

CZ has also met with officials in the UAE and Bitcoin-stacking country Bhutan — however, it isn’t clear what those meetings entailed.

CZ’s latest pursuits come a little over six months after he was released from a four-month prison sentence in the US for violating several anti-money laundering laws.

Since being released, CZ has made investments in blockchain tech, artificial intelligence and biotechnology companies.

CZ also recently donated 1,000 BNB (BNB) — worth almost $600,000 — to support earthquake relief efforts in Thailand and Myanmar after the natural disaster in late April.

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