Alistair Darling: Former Labour chancellor dies aged 70
Alistair Darling, who served as chancellor under Gordon Brown, has died at the age of 70, his family has confirmed.
The Labour Party stalwart became a household name when the then-prime minister gave him the keys to the Treasury back in 2007 – running the department throughout the global banking crisis and staying in post until Mr Brown lost the election in 2010.
But he had been a presence in Tony Blair’s government from the start, beginning as chief secretary to the Treasury in 1997 following Labour’s landslide victory, and going on to run a number of departments – including work and pensions, transport and trade.
Politics latest: Tributes to former chancellor flood in from across UK
Lord Darling’s family confirmed the news on Thursday, saying he had died after a short spell in Western General Hospital under the “wonderful care” of the cancer team.
In their statement, they described him as “the much-loved husband of Margaret and beloved father of Calum and Anna”.
After the news was announced, tributes poured in from all sides of the political spectrum, led by Labour leader Sir Keir Starmer, who said he had “lived a life devoted to public service”.
He said Lord Darling’s “calm expertise and honesty” as chancellor helped guide the country through the 2008 financial crisis, but that his “greatest professional pride” was serving his constituents in Edinburgh as an MP between 1987 and 2015.
He was perhaps best known for his time as chancellor
Echoing the sentiment, ex-prime minister Mr Brown tweeted that he “like many, relied on his wisdom, calmness in a crisis and his humour”, adding: “He will be missed by all who knew him.”
In another statement, Mr Blair said: “He was highly capable, though modest, understated but never to be underestimated, always kind and dignified even under the intense pressure politics can generate.
“He was the safest of safe hands. I knew he could be given any position in the Cabinet and be depended upon. I liked him and respected him immensely as a colleague and as a friend.”
One of his Conservative successors, Jeremy Hunt, described him as “one of the great chancellors”, saying he would be “remembered for doing the right thing for the country at a time of extraordinary turmoil”.
And the woman hoping to follow in his footsteps to the Treasury, shadow chancellor Rachel Reeves, said she would miss “his advice and his counsel – but, more than anything I will miss his friendship, his kindness and decency, his humour and his warmth”.
Prime Minister Rishi Sunak said Lord Darling’s passing “is a huge loss to us all”. He added: “The role he played during the 2014 Independence referendum was vital in keeping our union together. My deepest condolences go out to his family and friends at this difficult time.”
Gordon Brown made him his righthand man after he moved into Number 10 in 2007
Despite being Born in London, Lord Darling came from a long line of Scots, and returned to the country for school, before going to the University of Aberdeen, where he became president of the Student’s Representative Council.
After graduating, he became a solicitor, but having joined Labour aged just 23, it wasn’t long before he changed course to enter politics, being elected as a councillor on the Lothian Regional Council in 1982.
He became the MP for Edinburgh South in the 1987 election, ousting the Conservative candidate from the seat. When that constituency was abolished in 2005, he ran for – and won – the seat of Edinburgh South West until he left the Commons in 2015.
Lord Darling also played a prominent role in the Scottish independence referendum in 2014 as the chairman of the “Better Together” campaign.
Former first minister and SNP leader, Nicola Sturgeon, said despite the “clashes” the pair had over the country’s future, she “always found him to be a man of intellect and principle”, adding: “He made a significant contribution to politics and public life.”
Alistair Darling led the campaign for Scotland to remain in the UK
Lord Darling became a peer in 2015 – named as Baron Darling of Roulanish, He retired from the Lords in 2020.
His former cabinet colleagues from both the Blair and Brown years were among those marking his passing, with Hilary Benn calling him “an able, calm and thoughtful colleague” and Jacqui Smith praising his “warm, humble approach”.
From the other side of the Commons, former Tory prime minister Sir John Major described Lord Darling as “a decent man, who brought civility, reason and intelligence to politics”, while David Cameron said he was “thoroughly kind”.
Shares in The Magnum Ice Cream Company (TMICC) have fallen slightly on debut after the completion of its spin-off from Unilever amid a continuing civil war with one of its best-known brands.
Shares in the Netherlands-based company are trading for the first time following the demerger.
It creates the world’s biggest ice cream company, controlling around one fifth of the global market.
Primary Magnum shares, in Amsterdam, opened at €12.20 – down on the €12.80 reference price set by the EuroNext exchange, though they later settled just above that level, implying a market value of €7.9bn – just below £7bn.
The company is also listed in London and New York.
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Unilever stock was down 3.1% on the FTSE 100 in the wake of the spin off.
The demerger allows London-headquartered Unilever to concentrate on its wider stable of consumer brands, including Marmite, Dove soap and Domestos.
The decision to hive off the ice cream division, made in early 2024, gives a greater focus on a market that is tipped to grow by up to 4% each year until 2029.
Ben & Jerry’s accounts for a greater volume of group revenue now under TMICC. Pic: Reuters
But it has been dogged by a long-running spat with the co-founders of Ben & Jerry’s, which now falls under the TMICC umbrella and accounts for 14% of group revenue.
Unilever bought the US brand in 2000, but the relationship has been sour since, despite the creation of an independent board at that time aimed at protecting the brand’s social mission.
The most high-profile spat came in 2021 when Ben & Jerry’s took the decision not to sell ice cream in Israeli-occupied Palestinian territories on the grounds that sales would be “inconsistent” with its values.
Unilever responded by selling the business to its licensee in Israel.
A series of rows have followed akin to a tug of war, with Magnum refusing repeated demands by the co-founders of Ben & Jerry’s to sell the brand back.
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Sept: ‘Free Ben & Jerry’s’
Magnum and Unilever argue its mission has strayed beyond what was acceptable back in 2000, with the brand evolving into one-sided advocacy on polarising topics that risk reputational and business damage.
TMICC is currently trying to remove the chair of Ben & Jerry’s independent board.
It said last month that Anuradha Mittal “no longer meets the criteria” to serve after internal investigations.
An audit of the separate Ben & Jerry’s Foundation, where she is also a trustee, found deficiencies in financial controls and governance. Magnum said the charitable arm risked having funding removed unless the alleged problems were addressed.
The Reuters news agency has since reported that Ms Mittal has no plans to quit her roles, and accused Magnum of attempts to “discredit” her and undermine the authority of the independent board.
Magnum boss Peter ter Kulve said on Monday: “Today is a proud milestone for everyone associated with TMICC. We became the global leader in ice cream as part of the Unilever family. Now, as an independent listed company, we will be more agile, more focused, and more ambitious than ever.”
Commenting on the demerger, Hargreaves Lansdown equity analyst Aarin Chiekrie said: “TMICC is already free cash flow positive, and profitable in its own right. The balance sheet is in decent shape, but dividends are off the cards until 2027 as the group finds its footing as a standalone business.
“That could cause some downward pressure on the share price in the near term, as dividend-focussed investment funds that hold Unilever will be handed TMICC shares, the latter of which they may be forced to sell to abide by their investment mandate.”
Donald Trump has said he will be “involved” in the decision on whether Netflix should be allowed to buy Warner Bros, as the $72bn (£54bn) deal attracts a media industry backlash.
The US president acknowledged in remarks to reporters there “could be a problem”, acknowledging concerns over the streaming giant’s market dominance.
Crucially, he did not say where he stood on the issue.
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It was revealed on Friday that Netflix, already the world’s biggest streaming service by market share, had agreed to buy Warner Bros Discovery’s TV, film studios and HBO Max streaming division.
The deal aims to complete late next year after the Discovery element of the business, mainly legacy TV channels showing cartoons, news and sport, has been spun off.
But the deal has attracted cross-party criticism on competition grounds, and there is also opposition in Hollywood.
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Netflix agrees $72bn takeover of Warner Bros
The Writers Guild of America said: “The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent.
“The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers.”
File pic: Reuters
Republican Senator, Roger Marshall, said in a statement: “Netflix’s attempt to buy Warner Bros would be the largest media takeover in history – and it raises serious red flags for consumers, creators, movie theaters, and local businesses alike.
“One company should not have full vertical control of the content and the distribution pipeline that delivers it. And combining two of the largest streaming platforms is a textbook horizontal Antitrust problem.
“Prices, choice, and creative freedom are at stake. Regulators need to take a hard look at this deal, and realize how harmful it would be for consumers and Western society.”
Paramount Skydance and Comcast, the parent company of Sky News, were two other bidders in the auction process that preceded the announcement.
The Reuters news agency, citing information from sources, said their bids were rejected in favour of Netflix for different reasons.
Paramount’s was seen as having funding concerns, they said, while Comcast’s was deemed not to offer so many earlier benefits.
Paramount is run by David Ellison, the son of the Oracle tech billionaire Larry Ellison, who is a close ally of Mr Trump.
The president said of the Netflix deal’s path to regulatory clearance: “I’ll be involved in that decision”.
On the likely opposition to the deal. he added: “That’s going to be for some economists to tell. But it is a big market share. There’s no question it could be a problem.”
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