Labour has confirmed it could accept a quota of migrants from the EU under a returns agreement it hopes to strike with the bloc if it wins power at the next general election.
Shadow Cabinet Office minister Nick Thomas-Symonds said the “objective” was to secure a returns agreement to establish “management and control of the system” as he accused the Conservatives of having “lost control of our borders”.
Mr Thomas-Symonds spoke to Sky News while Sir Keir Starmer and shadow home secretary Yvette Cooper meet European officials in The Hague – and as the party unveils proposals to treat smuggling gangs “on a par” with terrorists.
The potential for a returns agreement has already attracted controversy, with Tory Party chair Greg Hands accusing Labour of a “shocking open door policy on immigration”.
The EU is currently working on a new returns agreement that would mean each member state takes a minimum annual quota of 30,000 migrants, or pay €20,000 (£17,200) for each person they do not accept.
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Mr Thomas-Symonds told Sky News: “What we are looking to do as an objective is a returns agreement.
“At the moment, the government is in a position to return people already to particular countries. They are not fast-tracking that situation. They’re not doing that competently.
Migrants on a patrol boat after trying to cross the English Channel
“What we would be looking for is management and control of the system, which is absolutely vital and not there at the moment under this government.”
When it was put to him on Sky News that the UK is 13% of Europe’s population and therefore could have to accept the same percentage of migrants under an agreement – equating to around 182,000 people per year – Mr Thomas-Symonds said he did not accept the figure.
He said the exact details would be for a potential future Labour government to negotiate with the EU.
“Our position is that net migration has been too high in the UK and we want to see that coming down. That’s our overall position and that’s something we’d obviously take into any negotiation with the EU,” he said.
Labour also wants to have more UK police officers posted with Europol for joint investigations – aiming to disrupt the gangs before they reach the coast – and work with EU partners on data and intelligence sharing, replacing access the UK lost to certain programmes after Brexit.
Rishi Sunak hit back at Labour’s assertion that the government has “lost control of the borders” and claimed Sir Keir’s plan would see the UK accept 100,000 migrants from the EU every year – although he did not say how he had calculated this figure.
Speaking to broadcasters on a visit to Devon, the prime minister said the Labour leader “spent all of this year voting against our stop the boats bill, the toughest legislation that any government has passed to tackle illegal migration”.
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Territory usually seen as belonging to the Conservatives, Sir Keir Starmer is talking tough on immigration.
In The Netherlands with his shadow home secretary Yvette Cooper, the Labour leader has announced Labour’s plans for a new security partnership with Europe to smash the business model of the people smuggling gangs bringing migrants in boats across the Channel.
Labour’s plans include giving more powers to the National Crime Agency, real-time intelligence sharing with European partners and setting up a new cross border policing unit – paid for by scrapping the Rwanda scheme.
Sir Keir also wants to make it possible to restrict the movement of and freeze the assets of those suspected of people smuggling, treating suspected smugglers more like terrorists or drug traffickers.
But it’s a potential returns agreement with the EU that is causing an almighty row.
In an interview with The Times newspaper, the leader of the opposition said accepting quotas of migrants from the EU in exchange for a returns agreement would be reserved for future negotiations with Brussels.
This has alarmed Tories who believe this to be confirmation that Labour would open up the UK’s doors to higher numbers of refugees than we currently already receive.
Shadow minister Nick Thomas-Symonds told Sky News: “A wider returns agreement with the EU – that’s of course subject to negotiation.”
He went on to say that any returns agreement would be “under new arrangements” and that the objective for his party was to reduce net migration.
But government ministers beg to differ.
Home Office minister Robert Jenrick posted on X: “Not content with voting against every one of our measures to stop the boats, Keir Starmer is now opening the door to taking over 100,000 illegal migrants from the safety of the EU. His ‘plan’ is a recipe for even more illegal migration.”
Labour insists their plans will allow the UK to take back control of its immigration system.
But government sources tell Sky News that Sir Keir has made it easier for them to argue that Labour would be soft on immigration.
Small boat crossings will be a critical topic at the next general election but it appears that both parties believe this is one fight they can win.
He added: “I don’t think it’s credible that he really wants to grip this problem.”
In August, The Times reported Mr Sunak was also attempting to secure a returns agreement with the EU, but that the negotiations stalled.
It is likely any agreement would have involved the UK taking a share of EU migration.
Downing Street today told reporters the government was open to a returns deal with the EU but would not accept a quota of migrants in exchange.
The prime minister’s official spokesman did not rule out the possibility of a funding deal which would see UK taxpayers’ money go to Brussels as part of an agreement.
“There are discussions ongoing, so I’m not going to get into whether or not we would or would not fund any further co-operation,” the spokesman said.
In his interview with The Times, the Labour leader said he would treat people smugglers like terrorists by freezing their assets and restricting their movements.
Speaking from The Hague, Sir Keir told broadcasters: “The government has lost control of our borders, and we can see that with the number of crossings there are across the Channel in small boats. We have to stop that.”
He said the “only way to do that is to smash the gangs that are running this vile trade,” and that he had been speaking to Europol today about getting a “closer agreement” to tackle it.
“That is taking control of a situation that the government has totally lost control of,” he declared.
Sir Keir rejected assertions that such a deal with Europe would be a betrayal of the 2016 Brexit referendum, and said the only way to defeat the gangs is to “operate where they’re operating”, which is in Europe and beyond.
Asked about Home Secretary Suella Braverman’s claim that his plan would make Britain Europe’s “dumping ground” for “millions” of illegal migrants, Sir Keir said it’s “embarrassing that the government is pumping out this nonsense”.
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“I can only assume it’s because they’ve got nothing sensible to say on this issue,” he said.
More than 23,000 people have made the dangerous journey across the Channel in the year so far – with over 3,000 making the crossing in September alone.
Read more
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Mr Sunak has made tackling the issue one of his five priorities for the year, promising to “stop the boats” with measures such as deporting some migrants to Rwanda and housing people on barges.
But both schemes have hit barriers, with Rwanda flights caught up in the courts and an outbreak of Legionella disease on the Bibby Stockholm vessel.
Mr Sunak has repeatedly defended the government’s progress, saying: “We’ve already reduced the legacy backlog by over 28,000 – nearly a third – since the start of December and we remain on track to meet our target.”
Despite the ongoing market meltdown on US trade tariffs, executives at major cryptocurrency firms Messari and Sygnum are bullish on institutional Bitcoin adoption later in 2025.
Speaking on a panel at Paris Blockchain Week on April 8, Messari CEO Eric Turner and Sygnum Bank co-founder Thomas Eichenberger said they expect a significant shift in the banking sector’s involvement with crypto in the second half of the year.
According to the executives, the global banking push into Bitcoin (BTC) services has great potential to happen in the second half of 2025 as regulators embrace crypto, including stablecoins and crypto services by banks.
“I think we’re probably looking at a muted Q2, but I’m really excited for Q3 and Q4,” Messari’s Turner said during the panel discussion moderated by Cointelegraph CEO Yana Prikhodchenko, forecasting “really interesting” things coming to the crypto market in 2025.
Crypto adoption is not just about Trump
While some investors focus on the pro-crypto stance of US President Donald Trump, Turner emphasized that broader regulatory momentum is what matters most.
“When you look at the potential of having market structure regulation in the US, stablecoin regulation, and just the fact that across the board, not just President Trump himself, but the SEC and all these regulatory industries are really embracing crypto,” Turner said.
Paris Blockchain Week’s panel with Cointelegraph CEO Yana Prikhodchenko, Bancor co-founder Eyal Hertzog, Sygnum co-founder Thomas Eichenberger, Messari CEO Eric Turner, AWS fintech leader Alex Matsuo and Near chief operating officer Chris Donovan. Source: Cointelegraph
Sygnum co-founder Thomas Eichenberger said international banks with US branches are also poised to enter the market once the legal landscape becomes clearer:
“I think it’s a matter of fact that US banks are preparing to be able to offer crypto custody and at least crypto spot trading services anytime soon.”
“I think by then I would agree with you, Eric,” he continued, projecting a continued phase of market uncertainty until the US establishes a clear regulatory framework.
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Banks are no longer afraid of Bitcoin regulators
With the establishment of clear crypto rules for banks in the US, there will be a rush for crypto services by large international banks that are incorporated outside of the US but have a US-based presence, Eichenberger said.
“Some of them may have had their strategic plans in their cupboard to offer crypto-related services, but have been afraid that at some point they will be gone after by any of the US regulatory authorities,” he said, adding:
“Now I think there’s no one to be afraid of anymore in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year.”
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Global trade tensions triggered by US President Donald Trump’s sweeping tariff measures may come to an end with a potential deal with China as investors remain concerned about escalation from both sides.
Trump’s April 2 announcement of reciprocal import tariffs sent shockwaves through global equity and crypto markets. The measures include a 10% baseline tariff on all imported goods, effective April 5, with higher levies — such as a 34% tariff on Chinese imports — set to begin on April 9.
However, the tariff negotiations may only be “posturing” for the US to reach an agreement with China, according to Raoul Pal, founder and CEO of Global Macro Investor.
“In the end, almost all the other tariff negotiations and rhetoric are all about getting China to agree a deal,” Pal wrote in an April 8 X post, adding:
“That is the big prize and both China and the US understand it and need it. Everything else is negotiation posturing. China needs a weaker $ and the US needs tariffs.”
Source: Raoul Pal
“Also, the US is trying to shut down China tariff arbitrage using other channels such as Mexico or Vietnam,” Pal said.
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China retaliates with new tariffs
Considering China’s latest retaliatory measures, a resolution remains unlikely in the short term.
In response to US tariffs, China imposed a 34% tariff on all US imports effective April 10, media outlet Xinhua News reported on April 4. China’s foreign ministry also vowed to “fight till the end” against Trump’s tariffs, which it called “bullying” by the world’s largest economy.
China overtakes the US in global trade. Source: Econovis
China overtook the US in 2012 to become the world’s largest trading nation by the total value of exports and imports, surpassing $4 trillion in goods trade that year, according to The Guardian.
Crypto markets watch trade outcome closely
As the trade dispute continues to evolve, analysts say a potential agreement between the two global superpowers could serve as a key catalyst for recovery in digital asset markets.
Crypto markets have a 70% chance to bottom by June 2025 before recovering, Nansen analysts predicted.
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Investor appetite for risk assets such as Bitcoin will depend on the global tariff responses from other countries, according to Nicolai Sondergaard, a research analyst at Nansen.
“We have reached somewhat of a local bottom in regard to tariffs and the impact on prices,” the analyst said during Cointelegraph’s Chainreaction live show on X, adding:
“Trump came out guns blazing, and we’ve mostly seen the worst from the US side, so we’ll see if other countries are willing to drop some of the tariffs because it’s very likely the US will do the same.”
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A Nigerian court has reportedly delayed the country’s tax evasion case against Binance until April 30 to give time for Nigeria’s tax authority to respond to a request from the crypto exchange.
Reuters reported on April 7 that a lawyer for Binance, Chukwuka Ikwuazom, asked a court the same day to invalidate an order allowing for court documents to be served to the company via email.
Binance doesn’t have an office in Nigeria and Ikwuazom claimed the Federal Inland Revenue Service (FIRS) didn’t get court permission to serve court documents to Binance outside the country.
“On the whole the order for the substituted service as granted by the court on February 11, 2025 on Binance who is … registered under the laws of Cayman Islands and resident in Cayman Islands is improper and should be set aside,” he said.
FIRS sued Binance in February, claiming the exchange owed $2 billion in back taxes and should be made to pay $79.5 billion for damages to the local economy as its its operations allegedly destabilized the country’s currency, the naira, which Binance denies.
It also reportedly alleged that Binance is liable to pay corporate income tax in Nigeria, as it has a “significant economic presence” there, with FIRS requesting a court order for the exchange to pay income taxes for 2022 and 2023, plus a 10% annual penalty on unpaid amounts along with a nearly a 27% interest rate on the unpaid taxes.
Nigeria’s legal history with Binance
In February 2024, Nigeria arrested and detained Binance executives Tigran Gambaryan and Nadeem Anjarwalla on tax fraud and money laundering charges. The country dropped the tax charges against both in June and the remaining charge against Gambaryan in October.
Tigran Gambaryan (right) was seen in a September video struggling to walk into a courtroom in the Nigerian capital of Abuja. Source: X
Anjarwalla managed to slip his guards and escape Nigerian custody to Kenya in March last year and is apparently still at large.
Related: Binance exec shares details about release from Nigerian detention
Gambaryan, a US citizen, returned home in October after reports suggested his health had deteriorated during his detainment with reported cases of pneumonia, malaria and a herniated spinal disc that may need surgery.
Binance stopped its naira currency deposits and withdrawals in March 2024, effectively leaving the Nigerian market.
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