Keir Starmer accuses PM of ‘squatting in No 10’ after Rishi Sunak’s general election hint

Published

1 year ago

January 4, 2024

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Rishi Sunak has given the clearest hint yet about when he will call a general election, saying his “working assumption” is that it will happen in the second half of this year.

Speculation has been rife for months about when the prime minister will choose to go to the polls.

Politics latest: One date thought to be frontrunner for election this year

Technically, he can wait until December before calling an election, meaning voters would then cast their ballots in January 2025.

But Mr Sunak has narrowed down the timeframe for an election the polls suggest the Tories will lose, which would bring to an end 14 years in power under five prime ministers.

Speaking to broadcasters on a visit to a youth centre in Mansfield, Nottinghamshire, he said: “So, my working assumption is we’ll have a general election in the second half of this year and in the meantime I’ve got lots that I want to get on with.”

The Conservative leader declined to rule out a May election categorically – but repeated his intentions to call one later in the year.

“I want to keep going, managing the economy well and cutting people’s taxes,” Mr Sunak said.

“But I also want to keep tackling illegal migration. So I’ve got lots to get on with and I’m determined to keep delivering for the British people.”

Both the Conservatives’ and Labour’s long election campaigns were well under way on Thursday, as both party leaders visited battleground areas.

Labour has claimed a spring vote is the “worst kept secret in parliament”, with party leader Sir Keir Starmer earlier saying in his own speech to voters in Bristol that he is “ready” for a general election whenever it is called.

Responding to Mr Sunak’s remarks which hinted at an autumn vote, Sir Keir accused the prime minister of “delaying” the inevitable.

He told Sky’s political editor Beth Rigby: “People are crying out for change. And I say to the prime minister, what’s he hiding? If he’s not going to set a date, what’s he hiding from the public?

“This has serious implications for the country because he’s basically saying he’s going to be squatting for months and months in Downing Street, dithering and delaying.

“So if he’s not being clear, and I don’t think he’s setting a date, what’s he hiding?”

Asked whether he would prefer a vote in the first half of the year, Sir Keir said: “I would like to see an election as soon as possible.

“I think the vast majority of the public want to see an election as soon as possible, and the reason is that the choice now is to turn our back on 14 years of decline and usher in a decade of national renewal with hope and change.”

He added: “People can’t afford for the prime minister to be squatting for months on end this year.”

The Liberal Democrats have also been calling for Mr Sunak to hold the vote in May rather than trying to “cling on” to power for the rest of the year.

Lib Dem leader Ed Davey accused Mr Sunak of “running scared” of a May election.

He said: “Squatter Sunak is holed up in Downing Street, desperately clinging on to power rather than facing the verdict of the British people.

“We need an election in spring, so that voters can finally get rid of this appalling and out-of-touch Conservative government.”

Analysis: PM will be hoping ‘squatting’ charge over election timing won’t stick

Amanda Akass

Political correspondent

@amandaakass

The prime minister has thoroughly stolen the thunder and headlines from Sir Keir Starmer’s new year speech with the revelation that his “working assumption” is that a general election will be held in the second half of the year.

Speculation in Westminster had been growing that the Tories were preparing to go to the polls in May – particularly after confirming over Christmas the spring budget would be delivered in March.

Many believed the strategy was for the chancellor to offer a generous series of tax cuts as a sweetening springboard into an early trip to the ballot box.

Pundits pointed out that this would avoid the embarrassing fallout from another drubbing at the local elections and a summer of small boat arrivals – and activists, it’s thought, would be more enthusiastic about pounding the pavements and knocking on doors in milder weather, particularly if they were doing so anyway on behalf of local council candidates.

But with Labour riding so consistently high in the polls and only one of his five pledges met (halving inflation), Rishi Sunak is clearly unconvinced by these arguments.

With the path to a Tory victory at any time of year so incredibly narrow, others believe the PM just wants to maximise his time in office. Indeed, speaking to reporters today he argues he’s still got plenty more to do in terms of “managing the economy well and cutting people’s taxes” as well as “tackling illegal migration”.

Delivering on illegal migration means successfully forcing his emergency Rwanda legislation through both houses of parliament, and past future legal challenges.

It’s the key challenge for Mr Sunak and his team at present; many advisors believe finally getting deportation flights off the ground, combined with a dramatic economic recovery, is perhaps his only real hope of clinging on to power at the next election.

Needless to say the opposition parties aren’t happy.

The Liberal Democrats yesterday called for a return to the Fixed Term Parliaments Act, to take away the PM’s power to call elections as the most opportune political moment. They’ve accused Mr Sunak of “bottling” the opportunity to call an election – with echoes of Gordon Brown’s perceived dithering in the autumn of 2007.

Both Sir Ed Davey and Sir Keir say Mr Sunak is “squatting” in Downing Street – with Sir Keir arguing that both he and the country want to see an election as soon as possible.

The PM will be hoping he’s set out his timetable early enough to avoid that charge sticking; but don’t expect the calls for an immediate national vote to calm down any time soon.

Reform UK has ruled out entering into any electoral pacts with the Tories.

Mr Sunak warned against voting for Reform UK amid fears the right-wing party could steal votes from the Conservatives.

He said: “A vote for anybody who’s not a Conservative candidate, a Conservative MP, is a vote for Keir Starmer in power.

“There’s only going to be two options for prime minister after the next election, it’s either going to be me or Keir Starmer. A vote for anyone who is not a Conservative is a vote for Keir Starmer in power.”

He added: “What’s the issue that has motivated a lot of these conversations? It’s illegal migration. So, what’s my track record? Well, I’m the first person to actually cut the numbers, and cut them not just by a little, but cut them by over a third in my first year in power.

“We’re going to pass our Rwanda Bill through parliament, get that scheme up and running, and that will provide the further deterrent we need to grip this once and for all.”

Politics

Senate stablecoin vote splits Democrats amid concerns over corruption

Published

3 hours ago

May 20, 2025

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Senate stablecoin vote splits Democrats amid concerns over corruption

US Senate Democrats are getting flak after they helped move stablecoin legislation ahead for discussion on the Senate floor.

On May 19, 16 Democratic senators broke from the party line to pass a motion to invoke cloture, which will now set the bill up for debate on the Senate floor. Some of the same Democrats had held up the bill in early May when they withdrew support, citing corruption concerns over President Donald Trump’s cryptocurrency dealings.

The bill’s opponents hailed lawmakers’ refusal to support it but were soon taken aback when the senators reversed their position. The lightly amended legislation contained no provisions regarding World Liberty Financial, the Trump family’s crypto venture.

Some activists have said that the Democrats supporting the bill should be ousted in the upcoming Democratic primaries in 2026, reflecting a growing rift in the Democratic Party over cryptocurrencies.

Law, Politics, Congress, United States, Stablecoin, Features — *The Senate voted 66-32 to move the bill ahead. Source:* *Stand With Crypto*

Democratic lawmakers’ approach to crypto shows split in party

On May 19, moderate Democratic Senator Mark Warner announced he would support the bill, stating that it was “not perfect, but it’s far better than the status quo.”

Warner set corruption concerns aside, stating, “Many senators, myself included, have very real concerns about the Trump family’s use of crypto technologies to evade oversight […] But we cannot allow that corruption to blind us to the broader reality: blockchain technology is here to stay.”

Warner concluded it would be better for the US to move forward on imperfect stablecoin legislation than to fall behind other jurisdictions.

Democratic Senator Kirsten Gillibrand, one of the bill’s sponsors, also pushed aside Trump corruption concerns, saying they should be addressed separately.

“A lot of what President Trump is engaged in is already illegal,” she said, adding that she didn’t want the president’s scandals to “distract us from the important goal of having a clear regulatory structure in the United States that can onshore this industry.”

During the vote, progressive Democrats disagreed. Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee and a vocal critic of the crypto industry, reportedly got into a heated argument with Gillibrand on the Senate floor.

Warren argued on the Senate floor ahead of the vote, “A bill that turbocharges the stablecoin market, while facilitating the President’s corruption and undermining national security, financial stability, and consumer protection is worse than no bill at all.”

Democrats opposing the bill aren’t giving up either. Senator Michael Bennet of Colorado, who voted against the GENIUS Act, immediately introduced another bill, jokingly named “the STABLE GENIUS Act,” combining the names of the bills in the Senate and House of Representatives.

The bill would prevent the president, vice-president and members of Congress from “issuing or endorsing digital assets” and require them to place any assets they hold in a blind trust while in office.

While the bill has little chance of passing — numerous acts that would limit members’ of Congress financial activities have fizzled out — it shows the Democrats are split on how they should provide opposition.

Democratic activists lambast Democratic GENIUS supporters

The progressive and activist wings of the Democratic party have roundly criticized Congressional leadership for compromising with Republicans on measures that, they claim, should be deal breakers.

In March, activists were enraged when Senator Chuck Schumer, a Democrat from New York and minority leader in the Senate, voted with the Republicans on a continuing resolution for government funding. One progressive observer accused him of giving up leverage and weakening the Democratic position.

Then, in April, disagreements over how Democrats should fight Trump’s mass deportations further deepened the rift.

Now, crypto has become another wedge between the activist wing, which provides crucial voter activation during elections, and centrists in Congress.

Ezra Levin, co-founder and co-executive director of progressive activist organization Indivisible, wrote on BlueSky:

Communications strategist Murshed Zaheed, who formally worked for the offices of Senator Harry Reid and Representative Louise Slaughter, urged people to call their senators to come out against the bill.

“Any Democrat who votes for this today — should never be taken seriously again if they send out emails, text and do videos […] talking a big game about Trump’s corruption,” he said.

Chris Kluwe, a former American football player who has since become a prominent activist within Democratic politics, said on May 20 he was “excited to get a chance to speak at the CA state Dem convention on May 31st, I’m sure [the bill] won’t come up at all in the 4 minutes I’ve been allotted.”

On BlueSky, labor researcher and media law historian Peter Labuza posted “Primary List” in reply to a post of the 16 Democratic senators who helped support the bill.

The subject of primary elections, the intra-party elections to decide who will represent the party in a given district, has also grown contentious.

On May 12, the Democratic National Convention (DNC) voted to void the results of an internal party vote nominating David Hogg as a vice chair. The decision essentially strips Hogg of his title at the DNC and, with it, the ability to promote his controversial policy of sponsoring progressive challengers in Democratic primary elections.

Hogg had planned to spend $20 million to support progressive and young candidates in Democratic Party primaries as part of the “Leaders We Deserve” campaign — an activist group that aims to elevate younger leaders with a more combative tone against the Trump administration.

With the stablecoin bills in the House and Senate poised to move ahead, the Democrats seem ill-suited to mount an effective opposition to the bills. Internal struggles and interests within Congress have disunited lawmakers, while activists want a new crop of congresspeople to represent them next term.

In the Democratic Party’s internal battle between the anti-crypto progressive wing and the pro-crypto pragmatists, the latter is winning out, so far.

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Politics

Robinhood proposes SEC rules for tokenized real-world assets

Published

4 hours ago

May 20, 2025

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Robinhood proposes SEC rules for tokenized real-world assets

Robinhood submitted a 42-page proposal to the US Securities and Exchange Commission (SEC), calling for a national framework to regulate tokenized real-world assets (RWAs).

The brokerage is seeking to modernize financial infrastructure by making tokenized assets legally equivalent to their traditional counterparts and enabling compliant onchain settlement, Forbes reported on May 20.

In the proposal, Robinhood also revealed plans for creating the Real World Asset Exchange (RRE), a trading platform offering offchain trade matching and onchain settlement for efficiency and transparency.

Robinhood is advocating for uniform federal standards to replace the patchwork of state-level securities regulations that currently apply. The platform would also integrate Know Your Customer (KYC) and Anti-Money Laundering (AML) tools through partners like Jumio and Chainalysis to meet global compliance expectations.

Robinhood asks for token-asset equivalence

A key feature of the proposal is the push for token-asset equivalence. Under Robinhood’s plan, a token representing a US Treasury bond, for instance, would be treated as the bond itself, not a derivative or synthetic product.

That would allow institutions and broker-dealers to handle tokenized RWAs within the existing regulatory system, potentially streamlining custody, trading and settlement processes.

Technically, RRE would be built on a dual-chain architecture utilizing Solana and Base, according to an overview of the proposal by Franklin Elevator. The system is designed to combine high-frequency offchain trade matching with onchain settlement.

Franklin Elevator said Robinhood projects the platform will achieve sub-10 microsecond matching latency and throughput of up to 30,000 transactions per second.

This could compress the US capital markets’ standard settlement time from T+2 to T+0, cutting trading costs by an estimated 30% annually.

“RWA tokenization represents a new paradigm for institutional asset allocation. Robinhood is committed to leading this trend under a compliant framework,” Robinhood CEO Vlad Tenev said.

Cointelegraph reached out to Robinhood for comment, but they hadn’t responded by publication time.

Tokenization gains momentum

Robinhood’s proposal comes amid a renewed wave of interest in RWA tokenization, with major players from both traditional finance and crypto making headlines last week.

On April 30, BlackRock filed to create a blockchain-based share class for its $150 billion Treasury Trust Fund, allowing a digital ledger to mirror investor ownership. On the same day, Libre revealed plans to tokenize $500 million in Telegram debt via its new Telegram Bond Fund.

On May 1, MultiBank Group inked a $3 billion tokenization deal with UAE real estate firm MAG and blockchain provider Mavryk.

“The recent surge isn’t arbitrary. It’s happening because everything’s lining up,” Eric Piscini, CEO of Hashgraph, told Cointelegraph. “Rules are getting clearer in major markets. The tech is stronger, faster, and ready to scale. And big players are actually doing it,” he added.

Magazine: Father-son team lists Africa’s XRP Healthcare on Canadian stock exchange

Politics

Kraken expands in Europe with regulated crypto derivatives

Published

4 hours ago

May 20, 2025

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Kraken expands in Europe with regulated crypto derivatives

Cryptocurrency exchange Kraken announced the launch of regulated derivatives trading on its platform under the European Union’s Markets in Financial Instruments Directive (MiFID II).

According to a May 20 announcement, Kraken’s perpetual and fixed maturity crypto futures contracts will be available for trading by retail and institutional customers in the European Economic Area (EEA). The announcement follows the exchange acquiring an MiFID license in early February through the acquisition of a Cypriot investment firm, approved by the Cyprus Securities and Exchange Commission.

Kraken’s head of exchange, Shannon Kurtas, said, “Europe is one of the fastest-growing regions for digital asset trading and investment, with some of the most sophisticated and demanding clients and institutions.”

He added, “Clients and partners increasingly seek comprehensive offerings within a regulated framework.”

Kraken, Europe, Cryptocurrency Exchange, Derivatives, European Union, Financial Derivatives — *Source:* *Kraken Pro*

Kraken had not responded to Cointelegraph’s request for comment by publication.

Release the Kraken

Kurtas said that following the deployment of the new derivatives products, “they [users] can seamlessly trade futures as part of a full suite of products” on the platform.

Derivatives, he said, will improve “capital efficiency, access to liquidity, reliability and enable sophisticated strategies and position management.” Kraken’s derivatives will be offered through a Cyprus-based MiFID II-regulated entity, Payward Europe Digital Solutions.

The launch follows Kraken completing its acquisition of the futures trading platform NinjaTrader earlier this month, as its first quarter revenue jumped 19% year-on-year to $471.7 million.

Crypto derivatives see lots of activity

Recently, Coinbase CEO Brian Armstrong said his firm will continue to look for merger and acquisition opportunities, after acquiring crypto derivatives platform Deribit. The comments came after the publicly listed US crypto exchange earlier this month agreed to acquire Deribit, one of the world’s biggest crypto derivatives trading platforms.

Major crypto exchange Gemini has also recently received regulatory approval to expand crypto derivatives trading across Europe. Gemini’s head of Europe, Mark Jennings, said in a May 9 statement:

“Once we commence business activities, we will be able to offer regulated derivatives throughout the EU and EEA [European Economic Area] under MiFID II.”

Decentralized finance platform Synthetix also plans to venture further into crypto derivatives with plans to re-acquire the crypto options platform Derive. The transaction is subject to approval from both the Synthetix and Derive communities.

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