Tory conference: PM continues to dodge HS2 question as rumour of axe dominates Tory conference
Prime Minister Rishi Sunak has continued to dodge questions on the future of HS2, despite the issue dominating his party’s conference in Manchester.
Sky News reported on Monday that the northern leg of the high speed rail line between Birmingham and Manchester will be axed after weeks of speculation.
The confirmation led to even more uproar from politicians, with the Conservative mayor of the West Midlands, Andy Street, saying cancelling the line would be “turning your back on an opportunity to level up – a once in a generation opportunity.
Read more: Number 10 says PM’s speech ‘worth waiting for’ – follow Tory conference live
But while Downing Street said officially that “no final decisions have been taken”, sources gave Sky News’ Mhari Aurora “the heaviest hint yet” that HS2 would feature in the prime minister’s conference speech on Wednesday – and his remarks would be “worth waiting for”.
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Chief executive of the Northern Powerhouse Partnership, Henri Murison, says ‘it’s time for the PM to grow up’
In a series of interviews this morning, Mr Sunak declined once again to give a yes or no answer over the final destination of the project.
Pushed on the topic by the BBC, he said: “I know there’s a lot of speculation on HS2. All I would say is the way I approach this job, I take a look at the facts, I take my time to get the decision right on behalf of the country – whatever it might be – and that’s what I’ll do with this, as I do with everything else.”
In an increasingly tetchy interview, the prime minister denied Number 10’s handling of the situation had been poor, before adding: “I am not going to be forced into a premature decision because its good for someone’s TV programme. What I want to do is make the right decision for the country.”
And speaking to Good Morning Britain, he said a decision would be taken “when we have gone through it properly”.
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Sky News’ Sophy Ridge asks West Midlands Mayor Andy Street if he will quit if HS2 gets axed.
First touted by Labour in 2009, HS2 has been a core pledge of the Conservative government, but it has been plagued by soaring costs and continued delays.
The initial opening date of 2026 has fallen back to 2033, while the price tag is estimated to have spiralled from about £33bn in 2010 to £100bn, despite the eastern leg of the line to Leeds being scrapped.
Rumours of the northern line being scrapped has upset people on all sides of the political spectrum, with Tory grandees and Labour stalwarts slamming the prospect.
But it is not just the northern section of the project that has encountered trouble, as doubts remaining over the future of Euston station in London, with reports services will terminate at Old Oak Common – a suburb of west London.
A planned settlement between the US Commodity Futures Trading Commission and crypto exchange KuCoin will likely be delayed after a policy shift at the CFTC to deprioritize cases against crypto companies under the Trump administration.
CFTC attorney John Murphy submitted a letter on April 21 to District Judge Valerie Caproni, asking for more time to secure approval for a deal negotiated under the Biden administration, reported Law360.
“It appears unlikely that such authorization will be granted in the near term,” he said, referencing a recent statement by acting CFTC Chair Caroline Pham that the agency’s enforcement division was to deprioritize cases against crypto companies.
The CFTC charged KuCoin with “multiple violations of the Commodity Exchange Act (CEA) and CFTC regulations” in March 2024.
According to the Justice Department, which also filed charges against KuCoin and two founders for violating Anti-Money Laundering laws, the exchange received more than $5 billion and sent more than $4 billion in “suspicious and criminal funds.”
KuCoin, trading under Mek Global Limited, reached a $297 million settlement with the Department of Justice in January and agreed to exit the US market for at least two years.
In December, the CFTC and KuCoin informed the court that they reached an agreement in principle to settle the case, however terms and details of the proposed deal were not disclosed.
In March, KuCoin asked the judge for a 14-day stay to address further negotiations in line with President Trump’s executive order curtailing enforcement actions against the digital asset industry. However, this request was denied, with the judge pressing for negotiation status updates.
No majority at CFTC
When Pham announced in February that the Commission would wind down its practice of regulation by enforcement, she also noted that terminating active cases would be more difficult to deal with.
The CFTC needs a majority to dismiss a case or authorize its settlement, and there is currently no majority, with two members from each party sitting on its governing body.
This could change if the Senate confirms the appointment of Trump nominee Brian Quintenz to lead the financial regulator.
Both parties have requested an additional 60 days or until the Commission provides “definitive direction” on the matter.
Related: US regulators FDIC and CFTC ease crypto restrictions for banks, derivatives
On April 21, the CFTC’s Divisions of Market Oversight issued a request for comment to better inform them on the potential uses, benefits, and risks of perpetual contracts in derivatives markets.
“Innovation and new technology have created a renaissance in markets that presents new opportunities that are accessible to more people, as well as risks,” said Pham.
Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest
Politics
Starmer and Zelenskyy discuss ending Russia’s ‘brutal war’ – as Putin says says he is open to bilateral talks on longer ceasefire
Sir Keir Starmer and Volodymyr Zelenskyy spoke about ending Russia’s “brutal war” on Ukraine in their latest phone call on Easter Monday, as Vladimir Putin said he was open to bilateral talks.
The prime minister and Ukrainian president spoke on Monday afternoon, when Sir Keir “reiterated his iron-clad support for Ukraine“.
A Downing Street spokesperson added that the prime minister “said that the UK supports Ukraine’s calls for Russia to commit to a full ceasefire and that now is the time for Putin to show he is serious about ending his brutal war”.
“They discussed the latest developments on the Coalition of the Willing, and looked forward to further progress towards a just and lasting peace,” the spokesperson added.
Mr Zelenskyy later said on social media that he had a “good and detailed conversation” with the prime minister, and added Ukrainian officials will be in London for talks on ending the war with Russia on Wednesday.
“We are ready to move forward as constructively as possible, just as we have done before, to achieve an unconditional ceasefire, followed by the establishment of a real and lasting peace,” he added.
The Ukrainian president added that the 30-hour Easter truce, which both Kyiv and Moscow accuse the other of violating, showed that Russia “are prolonging the war”.
It comes as Mr Putin proposed bilateral talks with Ukraine on a longer ceasefire, which would mark the first time Russia held such talks since a failed peace deal soon after the invasion in 2022.
Speaking to a state TV reporter, the Russian president said: “We always have a positive attitude towards a truce, which is why we came up with such an initiative (the Easter truce), especially since we are talking about the bright Easter days.”
When asked about Mr Zelenskyy’s calls to extend the 30-hour ceasefire into a 30-day pause on civilian targets, he added: “This is all a subject for careful study, perhaps even bilaterally. We do not rule this out.”
The Ukrainian president said on Sunday evening that the Russian army had “violated Putin’s ceasefire more than 2,000 times” during the day, and accused Russia of “failing” to “uphold its own promise of a ceasefire”.
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From Saturday: Why Putin offered an Easter truce?
It also comes after Donald Trump has said he hopes Russia and Ukraine “will make a deal this week,” after he and his secretary of state Marco Rubio warned that the US will walk away from efforts to broker a peace deal unless there are clear signs of progress soon.
The US president said on his Truth Social platform that both countries would “start to do big business” with the US after ending the war.
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Last month, Ukraine accepted Mr Trump’s proposal for a 30-day truce, but Mr Putin refused to back a full 30-day ceasefire, saying crucial issues of verification had not been sorted out.
He then said he would agree not to target Ukraine’s energy infrastructure. However, both sides have accused each other of breaking the moratorium on attacks on energy targets and at sea.
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