Connect with us

Published

on

Angela Rayner declared the battle to win over voters at the next general election is “getting started” as she revealed Labour’s vision to boost workers’ rights.

In a speech at the TUC conference in Liverpool, Labour’s deputy leader gave a “cast iron commitment” to push through an employment rights bill within 100 days of entering office if the party win the keys to Downing Street.

The New Deal for Working People would include protections against unfair dismissal, a ban on zero-hour contracts, more flexible working and ending fire and rehire (when an employer fires an employee and offers them a new contract on new, often less favourable terms).

Ms Rayner said: “I come here with one message today, that the next Labour government will build an economy that works for working people, with a new deal for working people.

“Labour will start by bringing forward an employment rights bill to legislate for this within the first 100 days of entering office. That’s a cast iron commitment.”

Reaction to Rayner’s vision – politics latest

Ms Rayner also promised to repeal the government’s “vicious” anti-trade union laws, such as its controversial minimum service levels bill.

More from Politics

She said the legislation – which requires minimum levels of service during a strike – is a “spiteful and bitter attack that threatens nurses with the sack”.

“Strike is a last resort but a fundamental freedom that must be respected,” she told the conference.

Ms Rayner said a Labour government would “update trade union laws to make them fit for the 21st century” – adding that “for too long they have failed to keep up with the hard reality of the ground”.

Measures she announced include a ban on the “blacklisting” of union reps and workers, expanding the role of unions to allow for more collective bargaining on pay and conditions, giving unions a legal right to access workplaces and raising the living wage.

Conservative Party chairman Greg Hands claimed the speech showed the “mask has slipped” – and despite promises from Sir Keir Starmer to be pro-business, “his deputy leader is committing to Labour’s union paymasters that they will have more control over Britain’s economy”.

But Ms Rayner insisted that Labour’s New Deal is not only good for workers but “good for the economy and for businesses”.

She said Labour would work with both trade unions and businesses to make the bill work, adding: “A healthier, happier and motivated workforce is good for the bottom line.”

Please use Chrome browser for a more accessible video player

Graham defends Labour comments

Ms Rayner’s appearance at the TUC conference comes after some unions questioned Labour’s commitment to workers’ rights and accused the party of not being bold enough.

In an apparent nod to that criticism, she ended her speech in calling for unity among the movement to get Labour into power.

She declared: “The battle for the general election is getting started and it’s not going to be easy. This country can’t survive another five years of Tory rule.

“There is no doubt that Labour has to win but to get this victory we have to come together, stand together and campaign side by side.

“And we need your help to get the word out about the New Deal for Working People.”

Read more:
Could traditional Tory voters turn away from the party?
Rayner admits wishing she could kick vaping habit

Please use Chrome browser for a more accessible video player

Govt reported to UN over ‘anti-strikes’ bill

‘Biggest upgrade of workers’ rights in a generation’

The message was met with a standing ovation from those in the audience.

Commenting on the speech Paul Nowak, the general secretary of the TUC, said Labour’s New Deal “would be the biggest upgrade in workers’ rights in a generation”.

He said: “Labour’s transformative New Deal for Working People stands in stark contrast to the Tories’ dire record on workers’ rights and pay.

“The Conservatives have presided over an explosion in insecure work and the longest pay squeeze in modern history.

“And they are now launching a full-scale attack on the right to strike.

“The country desperately needs a fresh start. British voters across the political spectrum want more security and fairer treatment at work.

“Make no mistake. Implementing the New Deal would be the biggest upgrade in workers’ rights in a generation.”

Continue Reading

Politics

Nasdaq crypto chief pledges to ‘move as fast as we can’ on tokenized stocks

Published

on

By

Nasdaq crypto chief pledges to ‘move as fast as we can’ on tokenized stocks

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, SEC, United States
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.

Related: DATs bring crypto’s insider trading problem to TradFi: Shane Molidor

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.

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice