In its long and venerable history dating back 192 years, the British Medical Association used to shy away from being called a “trades union”.
Collective bargaining was for “trades people”; the doctors were independent professionals. Their association was there to campaign for best practice and to offer advice to the politicians regulating health treatment.
That was when the reflex of most medical practitioners was to subscribe to the Hippocratic principle often paraphrased as “first do no harm”.
Much has changed. Today the BMA has no qualms about being described as the “doctors’ union”.
It has freely employed strong-arm negotiating tactics, familiar from industrial disputes, in pursuit of better pay for its members – including strikes, walkouts, deadlines and work to rules.
There can be no doubt that the strikes are doing harm to patient care.
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NHS England has just reported that 89,000 “appointments and procedures” had to be put off because of the three-day strike in December.
Since the industrial action started last March, 1.2 million appointments have been cancelled and rescheduled.
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The BMA rejected requests from the NHS to keep working in critical areas including fast-progressing cancers, corneal transplants and emergency caesareans.
Heated recriminations broke out as the BMA accused hospital managers of “weaponising” so-called “derogation requests” permitting them to recall staff to work if patient safety is “in jeopardy”.
Meanwhile, some A&E departments declared “critical” incidents with waiting times for treatment stretching as long as 16 hours.
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1:22
Patient backs NHS despite cancellations
PM failing to fix waiting list backlog
“Cutting NHS waiting lists” was one of the prime minister’s five pledges and this aim is seriously off track. Opinion polls taken during the dispute suggest that just over half of the public back the strikes (53%).
In a survey four months ago, people were more inclined to blame the government for the dispute (45%) than the BMA (21%), although 25% said they were both responsible.
Yet 11 months into the confrontation, the junior doctors, who lose pay on strike days, must be wondering what they are getting out of it. Their demand for a massive 35.3% pay rise still seems out of reach.
Having walked out of negotiations in December, Dr Vivek Trivedi, co-chair of the BMA junior doctors’ committee, now says he might be prepared to engage in more talks, saying “all we want is a credible offer that we can put to our members and we don’t need to strike again”.
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Although discontent over pay is widespread throughout the NHS workforce, most sectors other than junior doctors in England have accepted deals or, at the least, suspended their action.
NHS consultants accepted salary rises of up to 12.8% along with some pay reforms.
The Royal College of Nursing ballot for further strike action failed and a pay rise of 5.5% was imposed.
Health management is devolved. Junior doctors in Scotland accepted a 12.4% pay rise, on top of 4.5% in 2022/23. Junior doctors in Northern Ireland are balloting on a similar offer. In Wales, there is the prospect of a three-day strike from 15-18 January.
When negotiations broke down before Christmas, the government was offering a 3.3% increase on top of the 8.8% already imposed, taking the total for the English juniors above 12%.
Image: Junior doctors in Scotland have accepted a 12.4% pay rise
Image: The level of doctors’ real-terms pay cut is disputed
Are the strikes really ‘saving the NHS’?
By the standards of the other disputes, a reasonable settlement should be within touching distance were it not for the sense of grievance, embodied in the claim that pay has been cut in real terms by more than a third since 2008.
Few independent analysts accept the BMA’s calculation, which relies heavily on RPI inflation fluctuations. In line with recent trends for national statistics, the independent Institute for Government says the CPIH, the consumer price index, would be a more appropriate indicator, meaning a cut of 11-16%.
This was in the post-credit crunch, austerity period when wages across the public and private sectors stagnated.
The public is sympathetic to junior doctors who help to keep them well, but should they be an exception?
Over time, pay structures change. The youngest and lowest paid of those now on strike were at primary school in 2008; is it rational to restore their pay levels to what they were then?
“Junior doctors” is an unsatisfactory catch-all term for a wide range of hospital doctors. “Doctors in training” – which some Conservative politicians attempted to popularise – hardly does them justice either.
The term covers all hospital doctors who are not consultants, ranging from those just qualified and still effectively indentured, to senior registrars.
First-year junior doctors earn £32,398, rising to £37,303 in the second year and £43,923 in the third. Registrars’ basic pay goes up to £58,000. Full-time NHS consultants earn up to £120,000.
On the picket lines, strikers often argue their action is not about their own pay but to save the NHS because, they say, many of their peers are leaving for better terms in Australia, New Zealand and Canada.
Conversely, as recent special grade immigration figures show, there are many qualified people abroad with conflicting aspirations who are anxious to come here to work in the NHS.
Much to ponder on how the NHS should work
The additional crisis brought on by the strikes has inevitably prompted some rethinking about how the NHS is working.
Speaking to Sarah-Jane Mee on the Sky News Daily’s How To Fix The NHS mini-podcast series, Dr Adrian Boyle, president of the Royal College of Emergency Medicine, observed “that everything flowed better” in A&E departments because senior doctors providing cover had more direct contact with patients and “there were fewer people coming into hospital for elective work and this meant more beds”.
Those statements about organisation in the NHS should provide consultants, junior doctors and potential patients with a lot to ponder.
The same goes for politicians, who the public holds primarily responsible for delivering their healthcare.
Steve Barclay took an abrasively inactive approach to the various NHS disputes when he was health secretary. In November he was moved to make way for the more emollient Victoria Atkins.
She says she wants “a fair and reasonable settlement” to end the strikes and is open to further negotiations provided the threat of more strikes is withdrawn.
Image: Health Secretary Victoria Atkins
Image: Shadow health secretary Wes Streeting
Is the NHS broken – and would Labour do any better?
Atkins’ position is not much different from Wes Streeting, her Labour opposite number.
He has said for months that the disputes should be sorted out by negotiations with ministers and that a Labour government would not meet the 35% pay claim.
Streeting is of the view that reform, likely to discomfort some of the NHS’s vested interests, is more needed than extra cash.
Whatever view they take of the doctors’ actions, public pessimism about the NHS is on the rise.
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6:18
Labour won’t match doctors’ demands
Much as they love the NHS, growing numbers of the public say it is “broken” or “not fit for purpose”. There is also a live debate about whether doctors should lose the right to strike, just like the police and members of the armed services.
The pollsters regularly ask the question “should doctors be allowed to strike?”
Last summer, at the height of the consultants’ dispute, 50% said yes, 42% no. By November, support for doctors’ right to strike had dropped to 47% yes, 46% no.
The asking of that question alone would have astonished the founders of the BMA’s precursor, the Provincial Medical and Surgical Association, back in 1832.
Ousted Reform MP Rupert Lowe has said Nigel Farage must “never be prime minister” after leaked messages came to light reigniting the party’s internal row.
Mr Lowe, now the independent MP for Great Yarmouth, launched his latest attack on Reform’s “rotten and deceitful” leadership after a private WhatsApp conversation between Mr Farage and a party activist was leaked to the BBC.
In the messages, Mr Farage is alleged to have called Mr Lowe “disgusting” and “contemptible” after he gave an interview to the Daily Mail that was critical of his leadership.
He also allegedly claimed that Mr Lowe’s motivation for the interview was “damaging the party just before elections – disgusting”.
In a post on social media, Mr Lowe said the alleged leaked messages “prove that he [Mr Farage] kicked me out of the party and launched this malicious witch hunt because I dared to ask reasonable questions of Reform”.
“His visceral hatred of me is evident, particularly following the Daily Mail interview,” Mr Lowe continued.
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“Farage has admitted himself, in writing, that the motivation behind my removal was the Daily Mail interview, in which I raised reasonable and constructive questions of Reform structure, policy and communication – following months of pushing for change behind the scenes.
“That interview is why they designed and launched their horrific smear campaign against my name. It is evil behaviour.
“Nigel Farage must never be prime minister. All I have done is tell the truth, and I will continue to do so.”
The row erupted after Mr Lowe’s interview with the Daily Mail, in which Mr Lowe said it was “too early to know” if Mr Farage will become prime minister and warned Reform remains a “protest party led by the Messiah” under the Clacton MP.
He also claimed that he was “barely six months into being an MP” himself and “in the betting to be the next prime minister”.
Reform UK then announced that it had referred the Great Yarmouth MP to police and suspended him, alleging he made “verbal threats” against chairman Zia Yousaf.
Reform has also claimed it has received complaints from two female employees about serious bullying in Mr Lowe’s constituency office – which the MP has also strenuously denied, saying they do not relate to him and were made by staff who themselves faced disciplinary action.
On the allegations against the employees in his constituency office, Mr Lowe said he would “not be engaging” with the Reform “investigation”, arguing they were “blatantly vexatious complaints” made by former employees who themselves “admitted serious offences” and were subject to disciplinary processes.
“There is no credible evidence of any ‘bullying’ by anybody, because there was none,” he wrote in his social media post. “This has been weaponised in a desperate attempt to smear my name.”
He added: “If am contacted by the independent parliamentary authorities, I will fully cooperate with them. I have heard nothing from any relevant parliamentary body, nor have my team”.
Last week Sky News reported that Mr Lowe is consulting lawyers about taking possible libel action against Reform UK, for making “untrue and false allegations” about him.
The US Securities and Exchange Commission’s Division of Corporation Finance has clarified its views on proof-of-work mining, arguing that such activities do not constitute “the offer and sale of securities” as outlined in the Securities Act of 1933, so long as they meet certain criteria.
In a March 20 statement, the SEC division addressed the “mining of crypto assets that are intrinsically linked to the programmatic functioning of a public, permissionless network” and determined that decentralized PoW networks should not be treated as securities.
Although the SEC’s statement did not name any specific blockchain, its views on certain PoW activities apply to permissionless networks where mining is used to participate in the consensus mechanism. The statement applies to solo miners and mining pools participating in such networks.
The SEC’s Division of Corporation Finance gives its view on PoW “protocol mining activities.” Source: SEC
Although Bitcoin (BTC) is by far the largest and most significant PoW chain, there are several others, including Dogecoin (DOGE), Litecoin (LTC) and Monero (XMR). US regulators have long considered Bitcoin to be a commodity and not a security — a view that also extends to Litecoin and Dogecoin, according to the Commodity Futures Trading Commission.
Digital asset markets, including PoW chains, are set to flourish under US President Donald Trump, who has vowed to make America the world’s blockchain and crypto capital.
In addition to appointing a pro-crypto replacement to Gary Gensler at the SEC, the president has established the Council of Advisers on Digital Assets to advance common-sense regulations for the industry.
On March 19, the council’s executive director, Bo Hines, revealed that a comprehensive stablecoin bill could land on the president’s desk in a matter of months.
“I think we’re close to being able to get those done for August […] They’re doing a lot of work on that behind the scenes right now,” said Kristin Smith, the Blockchain Association’s CEO.
Onchain sleuth ZachXBT said he had identified the mysterious whale who profited $20 million from highly leveraged trades on Hyperliquid and GMX as a British hacker going by the name William Parker.
According to ZachXBT’s March 20 X post, Parker — who was previously known as Alistair Packover before changing his name — was arrested last year for allegedly stealing around $1 million from two casinos in 2023.
Parker also made headlines a decade ago for allegations of hacking and gambling, ZachXBT said.
“It is abundantly clear WP/AP has not learned his lesson over the years after serving time for fraud and will likely continue gambling,” ZachXBT said.
ZachXBT said his findings are based on a phone number provided by a person who allegedly received a payment from the whale trader’s wallet address.
He also said that public wallet addresses associated with the whale trader received proceeds from past onchain phishing schemes.
Cointelegraph has not independently verified ZachXBT’s claims.
Massive leveraged bets
The mysterious whale rose to prominence after profiting approximately $20 million from highly leveraged trades — in some cases with up to 50x leverage — on decentralized perpetuals exchanges Hyperliquid and GMX.
On March 12, the trader intentionally liquidated an approximately $200 million Ether (ETH) long, causing Hyperliquid’s liquidity pool to lose $4 million.
Meanwhile, the whale earned profits of some $1.8 million.
Hyperliquid said the liquidation was not an exploit but rather a predictable consequence of how the trading platform operates under extreme conditions. The DEX later revised its collateral rules for traders with open positions to guard against such occurrences in the future.
Perpetual futures, or “perps,” are leveraged futures contracts with no expiry date. Traders deposit margin collateral — typically USDC (USDC) for Hyperliquid — to secure open positions.