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There is a “duty on citizens” to work if they are able to, a government minister has said.

Chief secretary to the Treasury, Laura Trott, told Sky News the Conservatives believe “if you can work, as a principle, you should work”, saying the tenet is “the thrust of all our policies”.

Her remarks came ahead of the autumn statement on Wednesday, where the government is expected to announce plans to force those with mental health or mobility problems to find work they can do from home, or risk losing their welfare payments.

Government sources have told Sky News there is a concern a large number of people are currently “written off” and there will be measures in the speech to address that.

Politics live: Whitty to face questions at COVID inquiry

Chancellor Jeremy Hunt is said to be considering a big squeeze on benefits in order to make savings for the public purse.

Over the weekend, he said ministers needed to “take difficult decisions to reform the welfare state”, and he has not ruled out a change in the way the government increases benefits – perhaps using October’s lower inflation figure of 4.6% for the rise, rather than September’s higher number of 6.7%.

Economists said this would equate to a £3bn spending cut, largely impacting households receiving means-tested or disability benefits.

Charities and opposition MPs have appealed to the government not to make the move, saying it would hit the poorest hardest as the cost of living crisis continues to bite.

Currently, around two million working age people are not employed – something Rishi Sunak dubbed a “national scandal” on Monday, claiming it was “not sustainable for the country”.

Asked by Sky News’ Kay Burley if the reports around the welfare shake-up were “uncaring”, Ms Trott said: “I think that if you can work, as a principle, you should work, and that is what the government believes, that’s been the thrust of all of our policies.

“Of course, there should be support for people to help them into work or to help them with issues that they’re facing.

“But ultimately there is a duty on citizens that if they are able to go out to work, that’s what they should do.”

She added that the Department for Work and Pensions – where she was formally a minister was “working very hard to make sure our welfare system is supporting those who need support”.

But, she said: “Those who can work, can contribute, should contribute. And that is the principle that we must keep throughout all of this.”

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Shadow work and pensions secretary, Liz Kendall, told Sky News said she was a “big supporter of flexible working and working from home”.

But she blamed the government’s lack of support for those with disabilities and mental health conditions for the number of those out of work.

Ms Kendall said: “It’s very interesting to see Rishi Sunak railing against the fact millions of people are out of work due to long-term sickness, saying it’s a scandal they’ve been written off. Well, who’s done that?”

The Labour MP added: “What those people want is access to the talking therapies they need to deal with anxiety and depression.

“They need adaptations at work or at home if they have a disability, and we are seeing huge waits for people to get adaptations – both at home and in the work place.

“We strongly believe in work. But the government has failed to achieve that and instead of railing against the problems that they themselves have created, we need to see a proper plan.”

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South Korea to impose bank-level liability on crypto exchanges after Upbit hack: Report

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South Korea to impose bank-level liability on crypto exchanges after Upbit hack: Report

South Korea is preparing to impose bank-level, no-fault liability rules on crypto exchanges, holding exchanges to the same standards as traditional financial institutions amid the recent breach at Upbit.

The Financial Services Commission (FSC) is reviewing new provisions that would require exchanges to compensate customers for losses stemming from hacks or system failures, even when the platform is not at fault, The Korea Times reported on Sunday, citing officials and local market analysts.

The no-fault compensation model is currently applied only to banks and electronic payment firms under Korea’s Electronic Financial Transactions Act.

The regulatory push follows a Nov. 27 incident involving Upbit, operated by Dunamu, in which more than 104 billion Solana-based tokens, worth approximately 44.5 billion won ($30.1 million), were transferred to external wallets in under an hour.

Related: Do Kwon says five-year US sentence is enough as he faces 40 years in South Korea

Crypto exchanges face bank-level oversight

Regulators are also reacting to a pattern of recurring outages. Data submitted to lawmakers by the Financial Supervisory Service (FSS) shows the country’s five major exchanges, Upbit, Bithumb, Coinone, Korbit and Gopax, reported 20 system failures since 2023, affecting over 900 users and causing more than 5 billion won in combined losses. Upbit alone recorded six failures impacting 600 customers.

The upcoming legislative revision is expected to mandate stricter IT security requirements, higher operational standards and tougher penalties. Lawmakers are weighing a rule that would allow fines of up to 3% of annual revenue for hacking incidents, the same threshold used for banks. Currently, crypto exchanges face a maximum fine of $3.4 million.

The Upbit breach has also drawn political scrutiny over delayed reporting. Although the hack was detected shortly after 5 am, the exchange did not notify the FSS until nearly 11 am. Some lawmakers have alleged the delay was intentional, occurring minutes after Dunamu finalized a merger with Naver Financial.

Related: South Korea targets sub-$680 crypto transfers in sweeping AML crackdown

South Korea pushes for stablecoin bill

As Cointelegraph reported, South Korean lawmakers are also pressuring financial regulators to deliver a draft stablecoin bill by Dec. 10, warning they will push ahead without the government if the deadline is missed.