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The number of people who died from COVID-19 in the UK has been projected onto the walls of Barnard Castle – the evening before Dominic Cummings was set to give evidence to the official inquiry into the virus and how the UK government handled it.

A message saying “231,332 COVID deaths – is that clear enough to read?” on the notorious fortification was organised by campaign group 38 Degrees and COVID-19 Bereaved Families for Justice UK.

Mr Cummings, who famously claimed he drove to the castle to test his eyesight while the UK was still under restrictions, is due before Baroness Hallett’s probe later.

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It is not certain when he will be called to give evidence, after Monday’s witnesses overran.

Martin Reynolds – now known as party Marty for his role in the partygate affair – spent hours going over how the government responded to the pandemic.

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He was a senior civil servant under Boris Johnson.

While the inquiry cross-examined him, messages came out which showed current Civil Service head Simon Case saying that Mr Johnson was unfit to lead due to his constant changing of direction.

Mr Case also claimed that government “isn’t actually that hard, but this guy is making it impossible“.

He is set to give evidence himself at some point, and is currently on medical leave from his role in Number 10.

Mr Reynolds – who invited Downing Street staff to a “bring your own booze” party – was supposed to only spend part of the Monday morning evidence session before the inquiry, but he ended up being required until after lunch.

As such, former Downing Street communications director Lee Cain was told he would not be heard from on Monday and instead will speak on Tuesday morning.

Dominic Cummings. Pic: AP
Image:
Dominic Cummings. Pic: AP

Mr Cummings is expected to appear on Tuesday afternoon.

Having worked for Mr Johnson in Downing Street during the pandemic, the preceding election and during the Brexit deadlock, Mr Cummings has since become one of the former prime minister’s harshest critics.

Messages released on Monday show him referring to Mr Johnson as a “trolley” because his tendency to constantly change direction.

Both Mr Cummings and Mr Cain had left Downing Street by the end of 2020, with Mr Cummings claiming that Mr Johnson’s wife had too much power.

Former chancellor George Osborne warned last week that “disgusting and misogynistic” messages from the pandemic were likely to come out this week.

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Millionaire former Tory donor defects to Reform

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Millionaire former Tory donor defects to Reform

Millionaire Tory donor Malcolm Offord has defected to Reform UK, saying he would be campaigning “tirelessly” to “remove this rotten SNP government”.

Nigel Farage announced the former Conservative life peer’s defection during a rally in the Scottish town of Falkirk, where regular anti-immigration protests have taken place outside the Cladhan Hotel – which is being used to house asylum seekers.

Mr Farage, Reform UK’s leader, said he was “delighted” to welcome Greenock-born Lord Offord to Reform, describing his defection as “a brave and historic act”.

He added: “He will take Reform UK Scotland to a new level.”

During a speech, Lord Offord, who previously donated nearly £150,000 to the Tories, said he would be quitting the Conservative Party and giving up his place in the House of Lords as he prepares to campaign for a seat in Holyrood in May.

The 61-year-old said he wanted to restore Scotland to a “prosperous, happy, healthy country”.

“Scotland needs Reform and Reform is coming to Scotland,” he told the rally.

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“Today I can announce that I am resigning from the Conservative Party. Today I am joining Reform UK and today I announce my intention to stand for Reform in the Holyrood election in May next year.

“And that means that from today, for the next five months, day and night, I shall be campaigning with all of you tirelessly for two objectives.

“The first objective is to remove this rotten SNP government after 18 years, and the second is to present a positive vision for Scotland inside the UK, to restore Scotland to being a prosperous, proud, healthy and happy country.”

The latest defection comes as Mr Farage finds himself at the centre of allegations of racism dating back to his time in school.

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Claims made against Nigel Farage

Sky News reported on Saturday that a former schoolfriend of Mr Farage claimed he sang antisemitic songs to Jewish schoolmates – and had a “big issue with anyone called Patel”.

Jean-Pierre Lihou, 61, was initially friends with the Reform UK leader when he arrived at Dulwich College in the 1970s, at the time when Mr Farage is accused of saying antisemitic and other racist remarks by more than a dozen pupils.

Mr Farage has said he “never directly racially abused anybody” at Dulwich and said there is a “strong political element” to the allegations coming out 49 years later.

Reform’s deputy leader Richard Tice has called the ex-classmates “liars”.

A Reform UK spokesman accused Sky News of “scraping the barrel” and being “desperate to stop us winning the next election”.

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‘European SEC’ proposal sparks licensing concerns, institutional ambitions

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‘European SEC’ proposal sparks licensing concerns, institutional ambitions

The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.

On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.

Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.

“I am even more concerned that the proposal makes ESMA responsible for both the authorisation and the supervision of CASPs, not only the supervision,” she told Cointelegraph.

The proposal still requires approval from the European Parliament and the Council, which are currently under negotiation. 

If adopted, ESMA’s role in overseeing EU capital markets would more closely resemble the centralized framework of the US Securities and Exchange Commission, a concept first proposed by European Central Bank (ECB) President Christine Lagarde in 2023.

Related: Bank of America backs 1%–4% crypto allocation, opens door to Bitcoin ETFs

EU plan to centralize licensing under ESMA creates crypto and fintech slowdown concerns

The proposal to “centralize” this oversight under a single regulatory body seeks to address the differences in national supervisory practices and uneven licensing regimes, but risks slowing down overall crypto industry development, Elisenda Fabrega, general counsel at Brickken asset tokenization platform, told Cointelegraph.

“Without adequate resources, this mandate may become unmanageable, leading to delays or overly cautious assessments that could disproportionately affect smaller or innovative firms.”

“Ultimately, the effectiveness of this reform will depend less on its legal form and more on its institutional execution,” including ESMA’s operational capacity, independence and cooperation “channels” with member states, she said.

Related: Grayscale Chainlink ETF draws $41M on debut, but not ‘blockbuster’

Global stock market value by country. Source: Visual Capitalist

The broader package aims to boost wealth creation for EU citizens by making the bloc’s capital markets more competitive with those of the US.

The US stock market is worth approximately $62 trillion, or 48% of the global equity market, while the EU stock market’s cumulative value sits around $11 trillion, representing 9% of the global share, according to data from Visual Capitalist.

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