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The last Westminster parliament to run for a full five-year term ended in 2015.

After that we had general elections every two years, in 2017 and 2019, followed by the election now expected by January 2025 at the latest, when this full term will expire.

Not that there has been political stability since 2019. Rather than consult the voters, the Conservative party have changed prime ministers twice in that time running through Johnson and Truss to Sunak.

In the past few days, it has felt as if the tectonic plates under Number 10 Downing Street were shifting again. There have been manifest signs of political panic and – obeying the old mantra of “never let a good crisis go to waste” – political opportunism as well.

Observing tell-tale signs that the government was gearing up under duress, I wondered if, just possibly, Rishi Sunak would go the way of Theresa May and Boris Johnson and deploy the prime minister’s ability to bring about a general election as a tactical weapon in campaigning.

Elon Musk has not yet managed to kill Twitter as a channel of constructive conversation, so I Xed a speculative “are we about to be plunged into a snap general election again?”

No, not this October, it turned out. The prime minister stuck to the planned content in the speech which media speculation had bounced him into delivering prematurely.

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keir starmer
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Keir Starmer leads in the polls

But what we saw from the prime minister should put us on alert. The electorate should stand by to be called to the polls at any moment.

Sunak has shifted into ruthless campaign mode and he will call an election if and when he sees any advantage in doing so.

His U-turn on net zero measures shows that he has made his choice on how he will fight it.

In the past two centuries no British party has won five elections in a row, as the Conservatives are seeking to do.

Sunak’s strategy is to try to present himself as something different, rather than Sir Keir Starmer as the “change candidate” from the past.

Amid the cost of living crisis, high mortgages and inflation, chaos in the NHS and disruption in schools, Sunak knows there would be little point in trying to run on the Conservative’s record in government.

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‘Not right to impose costs on people’

Read more:
Tories think Starmer has made strategic blunder
Sunak delaying ban on new petrol and diesel cars

He claims that he has restored “stability and confidence” in his first year as prime minister, now his new slogan “long-term decisions for a brighter future” attempts to turn the page on all the decisions the Tories have taken over their past 14 years in power.

Symbolically Sunak has torched the accelerated plans to phase out internal combustion cars and gas boilers, which underwrote his predecessor Boris Johnson’s boast that the UK was a “world leader” on net zero. He hopes that this drives a wedge between him and Starmer.

Setting his heffalump trap for Labour, the Conservative leader says it is for people who disagree with him to explain why they want families to pay an extra £5,000, £10,000 or £15,000.

Piling extra challenges for Starmer to overcome, he claimed to have scrapped compulsory extreme measures for a meat tax, seven recycling bins per household, and car sharing.

Prime Minister Rishi Sunak departs 10 Downing Street, London, walking past a sleeping Larry the cat to attend Prime Minister's Questions at the Houses of Parliament. Picture date: Wednesday September 13, 2023.

He and ministers have struggled to identify any examples of politicians advocating such measures, but that won’t stop Tory activists linking them to Labour on the campaigning trail.

Already at PMQs Sunak is happy to smear Starmer with allegations which are unfounded or which Starmer has ruled out on the record.

Sunak’s campaign strategy is reminiscent of Johnson’s “cakeism”. He wants to hold together the coalition of voters which delivered electoral victory in 2019.

So while reducing the, allegedly costly, green measures on net zero or sewage versus housebuilding, he simultaneously claims that he is sticking to the UKs environmental ambitions and commitments.

It could work. Nobody likes paying more when times are hard.

Sunak’s claims that he is still “passionately committed” to net zero and that the UK is still on course, provide an alibi for those disinclined to do anything more.

Those queuing up to attack Sunak’s policy shift include the United Nations, Al Gore, One Nation Conservatives and the mainstream media, precisely the supposedly “elitist” coalition which alienated Leave voters in the Brexit referendum and against Labour in old Red Wall constituencies.

People take part in a protest against the proposed ultra-low emission zone (Ulez) expansion in Orpington, London. Mayor of London Sadiq Khan will extend the Ulez area to cover the whole of the capital from August 29. This means many more drivers of vehicles that do not meet minimum emissions standards will be liable for a daily ..12.50 fee. Picture date: Saturday August 19, 2023. PA Photo. See PA story PROTEST Ulez. Photo credit should read: Victoria Jones/PA Wire
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The expansion of the ULEZ has been a contentious issue

Although irrelevant to global warming, the Labour Mayor of London’s imposition of ULEZ charges on polluting vehicles certainly helped the Conservatives to hang onto Johnson’s outer London constituency at a by-election. The 7.4% swing against the Tories was much less than in national opinion polls.

If the Conservatives pull off another “hold” in the Mid Bedfordshire by-election on 19 October, it will be taken as vindication of the new “common sense” strategy.

To stay in power, Sunak will need the votes of traditional Conservatives – older, relatively affluent and in the South.

The Conservatives are also generally doing poorly with younger demographics of working age below 50. The red scare of Corbyn pushed enough of them in the Conservatives’ direction.

It will be harder to paint Starmer as a similar threat, but that is unlikely to stop his opponents trying.

That is the Conservative’s best hope of holding together a winning electoral coalition. Initially Sunak’s green moves have fallen flat with Conservative environmentalists from Zac Goldsmith to John Gummer to the Climate Change Committee.

Big businesses are also openly dismayed, especially by the instability of chopping and changing legislated targets and guidelines.

Replies to my snap election ‘X’ were mostly either “bring it on” or “they wouldn’t dare”.

Rishi Sunak

One MP was not so sure: “I point out that I was elected in 2015 when it was the law, we couldn’t have an election for five years… and we had two in three years”.

The prime minister will go for an election if he sees a burst of sunshine breaking through the electoral clouds hanging over the Conservatives.

He could even get a boost just by calling one; polls show that the public is impatient, over half of those questioned want an election by June next year – around 25% want one this year.

For his first year in office the prime minister has been bombarded by events.

He may have been pushed into it but this week was the first time he found the breathing space to launch an initiative.

More long-term ideas from the “real Rishi” are promised in the coming weeks. It is likely that they too will play to the popularist right of the party.

Sunak doesn’t have to appeal to everybody. In their four general election victories the shares of the vote which put the Tories in power were 36.1%, 36.8%, 42.3% and 34.65%.

Electoral Calculus current poll of polls puts Sunak well short of that: Conservatives 27.5% Labour 44.3%. The prime minister will not go quietly.

The Sunak who has shown himself this week will not scruple to do what it takes to shift the dial – short term as well as long term and if he sees the glint of a chance, he’ll take it.

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Labour suspends MP Dan Norris after arrest

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Labour MP Dan Norris arrested on suspicion of rape and child sex offences

The Labour Party has suspended its MP Dan Norris after “being informed of his arrest”.

A Labour Party spokesperson said: “Dan Norris MP was immediately suspended by the Labour Party upon being informed of his arrest.

“We cannot comment further while the police investigation is ongoing.”

Mr Norris defeated Jacob Rees-Mogg to win the new seat of North East Somerset and Hanham in last year’s general election.

He has also lost the party whip in the House of Commons.

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Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

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Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi Nakamoto, the pseudonymous creator of Bitcoin, marks their 50th birthday amid a year of rising institutional and geopolitical adoption of the world’s first cryptocurrency.

The identity of Nakamoto remains one of the biggest mysteries in crypto, with speculation ranging from cryptographers like Adam Back and Nick Szabo to broader theories involving government intelligence agencies.

While Nakamoto’s identity remains anonymous, the Bitcoin (BTC) creator is believed to have turned 50 on April 5 based on details shared in the past.

According to archived data from his P2P Foundation profile, Nakamoto once claimed to be a 37-year-old man living in Japan and listed his birthdate as April 5, 1975.

Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Source: Web.archive.org

Nakamoto’s anonymity has played a vital role in maintaining the decentralized nature of the Bitcoin network, which has no central authority or leadership.

The Bitcoin wallet associated with Nakamoto, which holds over 1 million BTC, has laid dormant for more than 16 years despite BTC rising from $0 to an all-time high above $109,000 in January.

Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi Nakamoto statue in Lugano, Switzerland. Source: Cointelegraph

Nakamoto’s 50th birthday comes nearly a month after US President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.

Related: Bitcoin at 16: From experiment to trillion-dollar asset

Nakamoto’s legacy: a “cornerstone of economic sovereignty”

At 50, Nakamoto’s legacy is no longer just code; it’s a cornerstone of economic sovereignty,” according to Anndy Lian, author and intergovernmental blockchain expert.

“Bitcoin’s reserve status signals trust in its scarcity and resilience,” Lian told Cointelegraph, adding: 

“What’s fascinating is the timing. Fifty feels symbolic — half a century of life, mirrored by Bitcoin’s journey from a white paper to a trillion-dollar asset. Nakamoto’s vision of trustless, peer-to-peer money has outgrown its cypherpunk roots, entering the halls of power.”

However, lingering questions about Nakamoto remain unanswered, including whether they still hold the keys to their wallet, which is “a fortune now tied to US policy,” Lian said.

Related: Bitcoin’s next catalyst: End of $36T US debt ceiling suspension

Is Satoshi Nakamoto wealthier than Bill Gates?

In February, Arkham Intelligence published findings that attribute 1.096 million BTC — then valued at more than $108 billion — to Nakamoto. That would place him above Microsoft co-founder Bill Gates on the global wealth rankings, according to data shared by Coinbase director Conor Grogan.

Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi’s new addresses. Source: Conor Grogan

If accurate, this would make Nakamoto the world’s 16th richest person.

Despite the growing interest in Nakamoto’s identity and holdings, his early decision to remain anonymous and inactive has helped preserve Bitcoin’s decentralized ethos — a principle that continues to define the cryptocurrency to this day.

Magazine: 10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’

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Wall Street’s one-day loss tops the entire crypto market cap

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Wall Street’s one-day loss tops the entire crypto market cap

Wall Street’s one-day loss tops the entire crypto market cap

The United States stock market lost more in value over the April 4 trading day than the entire cryptocurrency market is worth, as fears over US President Donald Trump’s tariffs continue to ramp up.

On April 4, the US stock market lost $3.25 trillion — around $570 billion more than the entire crypto market’s $2.68 trillion valuation at the time of publication.

Nasdaq 100 is now “in a bear market”

Among the Magnificent-7 stocks, Tesla (TSLA) led the losses on the day with a 10.42% drop, followed by Nvidia (NVDA) down 7.36% and Apple (AAPL) falling 7.29%, according to TradingView data.

The significant decline across the board signals that the Nasdaq 100 is now “in a bear market” after falling 6% across the trading day, trading resource account The Kobeissi Letter said in an April 4 X post. This is the largest daily decline since March 16, 2020.

“US stocks have now erased a massive -$11 TRILLION since February 19 with recession odds ABOVE 60%,” it added. The Kobessi Letter said Trump’s April 2 tariff announcement was “historic” and if the tariffs continue, a recession will be “impossible to avoid.”

Nasdaq, United States, Stocks

Source: Anthony Scaramucci

On April 2, Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports from all countries.

Trump said the reciprocal tariffs will be roughly half the rate US trading partners impose on American goods.

Related: Bitcoin bulls defend $80K support as ‘World War 3 of trade wars’ crushes US stocks

Meanwhile, the crypto industry has pointed out that while the stock market continues to decline, Bitcoin (BTC) remains stronger than most expected.

Crypto trader Plan Markus pointed out in an April 4 X post that while the entire stock market “is tanking,” Bitcoin is holding.

Nasdaq, United States, Stocks

Source: Jeff Dorman

Even some crypto skeptics have pointed out the contrast between Bitcoin’s performance and the US stock market during the recent period of macro uncertainty.

Stock market commentator Dividend Hero told his 203,200 X followers that he has “hated on Bitcoin in the past, but seeing it not tank while the stock market does is very interesting to me.”

Meanwhile, technical trader Urkel said Bitcoin “doesn’t appear to care one bit about tariff wars and markets tanking.” Bitcoin is trading at $83,749 at the time of publication, down 0.16% over the past seven days, according to CoinMarketCap data.

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

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