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Long gone are the days of Leave versus Remain. But the Conservative Party and its varied factions are still able to draw battle lines between one another when MPs face a crucial vote.

This week, the focus will be on Rishi Sunak’s Rwanda bill – his attempt to revive the scheme, ruled unlawful by the Supreme Court, that would see asylum seekers arriving by small boat crossings deported to the African nation.

The bill passed its second reading in a crunch Commons vote just before Christmas.

But it will return for its next parliamentary stages on Tuesday and Wednesday this week – and the different factions are still causing the prime minister trouble.

So who are the different groups on the Tory benches? And what do they want?

European Research Group

This gang of MPs is the most well-known of the so-called “five families” of right-wing groups within the Conservative Party.

It became a household name during Brexit years, dominating the headlines with its own demands for exiting the EU, but has kept relatively quiet since the deal was done – except for calling key elements of the Windsor Framework “practically useless”.

The Eurosceptic group is currently chaired by Mark Francois, but saw many of its members promoted to ministerial positions after Boris Johnson came to power – including Sir Jacob Rees-Mogg, Suella Braverman and Steve Baker.

Now, the ERG is leading the fight once again over the Rwanda bill, calling for the prime minister to scrap his current plan, start again and go further in ignoring international treaties and limiting the ability for asylum seekers to take appeals to court.

Jacob Rees-Mogg speaks at a meeting of the pro-Brexit European Research Group in London
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Sir Jacob Rees-Mogg used to chair the ERG before he was made a minister by Boris Johnson

New Conservatives

The newest kids on the block, this group is made up of 25 Tory backbenchers predominantly from so-called “Red Wall” seats that the party won from Labour in recent elections.

All of the members only entered parliament after 2016 – since the Brexit referendum took place – and say they are determined to focus the party on delivering on the 2019 manifesto, where Mr Johnson won a significant majority on his promises to “get Brexit done” and “level up” the country.

One of its first events as it sought to raise its public profile was outlining its 10-point plan for immigration, causing controversy with its call to end the temporary visa scheme for care workers and cap the number of refugees who can settle in the UK.

Now, its right-wing members have raised doubts over Mr Sunak’s Rwanda bill.

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Who are the New Conservatives?

Northern Research Group

Perhaps the precursor to the New Conservatives, this faction was also born from the 2019 election victories in the Red Wall, promising to focus on the interests of the towns and cities that make up the Tories’ “Northern Powerhouse”.

With around 55 MPs from the north of England, Scottish borders and North Wales – led by the now-former chairman of the party, Sir Jake Berry – the group has expanded its remit somewhat, speaking out against COVID lockdowns and business taxes, as well as pushing for its core goals around devolution, transport and investment.

But as the third of the five families of those on the right, its support could be crucial to seeing the Rwanda legislation become law.

The group also holds a conference every year, attracting senior members of government to speak and attempt to keep the powerful bloc onside.

Conservative Party chairman Jake Berry speaking at the Conservative Party annual conference at the International Convention Centre in Birmingham. Picture date: Wednesday October 5, 2022.
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Sir Jake Berry served as party chairman under Liz Truss

Common Sense Group

This collective of around 50 MPs and peers says it “stands for authentic conservatism”, with many of the issues it focuses on falling squarely into the culture wars category.

From slamming the National Trust for publicising Winston Churchill’s family links to slavery, to attacking Black Lives Matter and Extinction Rebellion as “subversives fuelled by ignorance”, the group – led by veteran backbencher Sir John Hayes – calls on the government to “reflect the will of the people, rather than pandering to the peculiar preoccupations of the liberal elite and the distorted priorities of left-wing activists”.

It has published its own set of essays to highlight its concerns, with titles including, “The judicial activists threatening our democracy”, “Taking politics out of policing”, and “The case for strengthening families”.

And the group takes a strong stance when it comes to immigration, so a question mark remains over whether Mr Sunak’s bill goes far enough for this group.

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Security minister John Hayes at the Conservative Party Conference in 2011.
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Sir John Hayes leads the group that focuses on culture war issues

Conservative Growth Group

The final of the “five families”, this group came to life after the short-lived premiership of Liz Truss, who was ousted from Number 10 after just 49 days following her disastrous mini-budget.

But while the party may have pushed for her undoing, her approach to tearing up the “economic orthodoxy” of the Treasury still garners the support of a number of backbenchers – especially those who enjoyed equally short-lived ministerial careers while she was in office.

There are only thought to be around 20 members in the group, including Ms Truss herself, but they are pushing for popular policies in the party, such as tax cuts and deregulation, as the best way for growing the British economy.

It is chaired by Ranil Jayawardena, who was environment secretary while Ms Truss was prime minister.

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Truss ‘tried to fatten and slaughter the pig’

One Nation caucus

In stark contrast to the previous five, this group – established back in 1975 – promotes the One Nation Conservative ideology, a more centrist approach to both the economy and social policy.

Despite dominating the party during the David Cameron years, many of the One Nation group fell out of favour during the tumultuous Brexit debate due to their support for Remain, with Mr Johnson kicking a number of them out of the party for failing to back his exit plans.

But while they may have been in the shadows in recent years, there are still over 100 members in parliament – with some former figures, such as Alex Chalk and Gillian Keegan, making it onto the frontbench – and they are starting to peek out above the parapet again.

Britain's Prime Minister and Conservative Party leader David Cameron (L) walks with Chancellor George Osborne during their visit to Marston's Brewery in Wolverhampton, central England April 1, 2015. Britain will go to the polls in a national election on May 7. REUTERS/Leon Neal/pool
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Before Brexit, One Nation Tories were an influential force in the party – especially under David Cameron and George Osborne

Recent issues being raised have included a call to focus on policies for winning back younger voters – such as rental reform and childcare.

But they are now seen as a key faction for the prime minister to keep onside to ensure the success of the Rwanda plan.

The group has offered its support to Mr Sunak so far, and pledged to back the bill.

But with its more liberal outlook – and having voiced concerns about the prospect of leaving (or break) international human rights treaties – the members have also said they will pull their backing if the prime minister bends to the will of those on the right and goes too far.

Away from the Rwanda row, there are other factions in the party who all want to have their voices heard by the leadership on their main issues of concern.

Conservative Democratic Organisation

This is another group formed after Ms Truss’s exit, but with fierce loyalty to her predecessor, Mr Johnson.

The CDO was furious with how Mr Sunak had been chosen as the new leader – without a vote of the membership – calling it “undemocratic”, and promised to “take back control” of the party with its grassroots movement.

But it is not just leadership elections it wants to influence. The organisation hopes to “steer [the Tories’] political direction back to the centre-right”, with specific calls for tax cuts and attacks on the current PM for failing to provide them.

Key figures include billionaire Conservative donor Lord Cruddas, the party’s former treasurer, and key Johnson ally and former home secretary Dame Priti Patel.

It has already held a conference, with other Johnson backers like Nadine Dorries and Sir Jacob Rees-Mogg attending to give speeches.

Priti Patel
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Priti Patel is one of the members spearheading the group

China Research Group

Another hot topic within Conservative ranks is the best way to approach China, and this group was set up to amplify that debate.

It was co-founded and chaired by the now security minister Tom Tugendhat – an outspoken critic of the country, who has highlighted the dangers of its technological influence, its human rights record, and its ongoing sanctioning of UK politicians.

While its former chair now finds himself on the frontbench, the voices calling for tougher action on Beijing are growing and questioning the current administration’s desire to engage with China, rather than calling it out for being a threat.

Foreign Affairs Committee chair Alicia Kearns now leads the group.

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‘Your backbenchers pulled you back’

Net Zero Scrutiny Group/Conservative Environment Network

Climate policies have been a central bone of contention for Tory MPs in recent months – especially after the party managed to cling on to Mr Johnson’s former seat of Uxbridge and South Ruislip in a by-election by focusing on residents’ anger of the expansion of London’s Ultra Low Emission Zone (ULEZ).

The victory saw a number of the party’s green policies brought into question, with Mr Sunak pledging to only roll them out in a “proportionate and pragmatic way” and watering down a number of promises.

But the legal obligation to hit net zero by 2050 – a law brought in by the Conservatives – has long caused rows, with two groups being formed to represent both sides of the argument.

Minister for Universities, Science, Research and Innovation, Chris Skidmore, addresses the Universities UK Conference at the University of Birmingham. PA Photo. Picture date: Thursday September 12, 2019. See PA story EDUCATION Universities. Photo credit should read: Joe Giddens/PA Wire
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Chris Skidmore (L) and Craig Mackinlay (R) chair opposing groups when it comes to net zero

The Net Zero Scrutiny Group insists it is not climate sceptic, but instead says government policies have gone too far, too fast, contributing to the cost of living crisis.

The group of 50 or so MPs and peers – led by former UKIP deputy leader Craig Mackinlay – wants green levies to be scrapped, saying they are hitting the poorest the hardest, and wants the government to ramp up fossil fuel production at home.

On the other hand, there is the Conservative Environment Network (CEN), which claims to have over 130 MPs and peers backing its mission to “champion greater environmental action in parliament”.

It says Conservative voters don’t want to see a row about whether net zero is worth it or not, but a debate on the right policies to achieve it.

A smaller faction echoing the sentiments of the CEN is led by Tory MP Chris Skidmore and is known as the Net Zero Support Group, which aims to “demonstrate and maintain Conservative support for net zero carbon emissions and policies needed to deliver this”.

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Nearly 400,000 FTX users risk losing $2.5 billion in repayments

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Nearly 400,000 FTX users risk losing .5 billion in repayments

Nearly 400,000 FTX users risk losing .5 billion in repayments

Nearly 400,000 creditors of the bankrupt cryptocurrency exchange FTX risk missing out on $2.5 billion in repayments after failing to begin the mandatory Know Your Customer (KYC) verification process.

Roughly 392,000 FTX creditors have failed to complete or at least take the first steps of the mandatory Know Your Customer verification, according to an April 2 court filing in the US Bankruptcy Court for the District of Delaware.

FTX users originally had until March 3 to begin the verification process to collect their claims.

“If a holder of a claim listed on Schedule 1 attached thereto did not commence the KYC submission process with respect to such claim on or prior to March 3, 2025, at 4:00 pm (ET) (the “KYC Commencing Deadline”), 2 such claim shall be disallowed and expunged in its entirety,” the filing states.

Nearly 400,000 FTX users risk losing $2.5 billion in repayments

FTX court filing. Source: Bloomberglaw.com

The KYC deadline has been extended to June 1, 2025, giving users another chance to verify their identity and claim eligibility. Those who fail to meet the new deadline may have their claims permanently disqualified.

According to the court documents, claims under $50,000 could account for roughly $655 million in disallowed repayments, while claims over $50,000 could amount to $1.9 billion — bringing the total at-risk funds to more than $2.5 billion.

Nearly 400,000 FTX users risk losing $2.5 billion in repayments

FTX court filing, estimated claims. Source: Sunil

The next round of FTX creditor repayments is set for May 30, 2025, with over $11 billion expected to be repaid to creditors with claims of over $50,000.

Under FTX’s recovery plan, 98% of creditors are expected to receive at least 118% of their original claim value in cash.

Related: FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapse

How FTX users can complete KYC

Many FTX users have reported problems with the KYC process.

However, users who were unable to submit their KYC documentation can resubmit their application and restart the verification process, according to an April 5 X post from Sunil, FTX creditor and Customer Ad-Hoc Committee member.

Nearly 400,000 FTX users risk losing $2.5 billion in repayments

FTX KYC portal. Source: Sunil

Impacted users should email FTX support (support@ftx.com) to receive a ticket number, then log in to the support portal, create an account, and re-upload the necessary KYC documents.

Related: Crypto trader turns $2K PEPE into $43M, sells for $10M profit

FTX’s Bahamian subsidiary, FTX Digital Markets, processed the first round of repayments in February, distributing $1.2 billion to creditors.

The crypto industry is still recovering from the collapse of FTX and more than 130 subsidiaries launched a series of insolvencies that led to the industry’s longest-ever crypto winter, which saw Bitcoin’s (BTC) price bottom out at around $16,000.

While not a “market-moving catalyst” in itself, the beginning of the FTX repayments is a positive sign for the maturation of the crypto industry, which may see a “significant portion” reinvested into cryptocurrencies, Alvin Kan, chief operating officer at Bitget Wallet, told Cointelegraph.

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set

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Sir Keir Starmer pledges to protect UK companies from Trump tariff ‘storm’

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Sir Keir Starmer pledges to protect UK companies from Trump tariff 'storm'

Sir Keir Starmer has said his government stands ready to use industrial policy to “shelter British business from the storm” after Donald Trump’s new 10% tariff kicked in.

The UK was among a number of countries hit with the lowest import duty rate following the president’s announcement on 2 April – which he called ‘Liberation Day’, while other nations, such as Vietnam, Cambodia and China face much higher US levies.

But a global trade war will hurt the UK’s open economy.

The prime minister said “these new times demand a new mentality”, after the 10% tax on British imports into America came into force on Saturday. A 25% US levy on all foreign car imports was introduced on Thursday.

It comes as Jaguar Land Rover announced it would “pause” shipments to the US for a month, as firms grapple with the new taxes.

On Saturday, the car manufacturer said it was working to “address the new trading terms” and was looking to “develop our mid to longer-term plans”.

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Jobs fears as Jaguar halts shipments

Referring to the tariffs, Sir Keir said “the immediate priority is to keep calm and fight for the best deal”.

Writing in The Sunday Telegraph, he said that in the coming days “we will turbocharge plans that will improve our domestic competitiveness”, adding: “We stand ready to use industrial policy to help shelter British business from the storm.”

It is believed a number of announcements could be made soon as ministers look to encourage growth.

NI contribution rate for employers goes up

From Sunday, the rate of employer NICs (national insurance contributions) increased from 13.8% to 15%.

At the same time, firms will also pay more because the government lowered the salary threshold at which companies start paying NICs from £9,100 to £5,000.

Also, the FTSE 100 of leading UK companies had its worst day of trading since the start of the pandemic on Friday, with banks among some of the firms to suffer the sharpest losses.

Sir Keir said: “This week, the government will do everything necessary to protect Britain’s national interest. Because when global economic sands are shifting, our laser focus on delivering for Britain will not. And these new times demand a new mentality.”

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Trump defiant despite markets

UK spared highest tariff rates

Some of the highest rates have been applied to “worst offender” countries including some in Southeast Asia. Imports from Cambodia will be subject to a 49% tariff, while those from Vietnam will face a 46% rate. Chinese goods will be hit with a 34% tariff.

Imports from France will have a 20% tariff, the rate which has been set for European Union nations. These will come into effect on 9 April.

Read more:
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How will UK respond to Trump’s tariffs?

Sir Keir has been speaking to foreign leaders on the phone over the weekend, including French President Emmanuel Macron, Italian Prime Minister Giorgia Meloni and Australian Prime Minister Anthony Albanese, to discuss the tariff changes.

A Downing Street spokesperson said of the conversation between Sir Keir and Mr Macron: “They agreed that a trade war was in nobody’s interests but nothing should be off the table and that it was important to keep business updated on developments.

“The prime minister and president also shared their concerns about the global economic and security impact, particularly in Southeast Asia.”

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Trump’s warning

Mr Trump has warned Americans the tariffs “won’t be easy”, but urged them to “hang tough”.

In a post on his Truth Social platform, he said: “We are bringing back jobs and businesses like never before.

“Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast!

“THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be historic.”

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Billionaire investor would ‘not be surprised’ if Trump postpones tariffs

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<div>Billionaire investor would 'not be surprised' if Trump postpones tariffs</div>

<div>Billionaire investor would 'not be surprised' if Trump postpones tariffs</div>

Crypto-friendly billionaire investor Bill Ackman is considering the possibility that US President Donald Trump may pause the implementation of his controversial proposed tariffs on April 7.

“One would have to imagine that President Donald Trump’s phone has been ringing off the hook. The practical reality is that there is insufficient time for him to make deals before the tariffs are scheduled to take effect,” Ackman, founder of Pershing Square Capital Management, said in an April 5 X post.

Trump may postpone tariffs to make more deals, says Ackman

“I would, therefore, not be surprised to wake up Monday with an announcement from the President that he was postponing the implementation of the tariffs to give him time to make deals,” Ackman added.

On April 2, Trump signed an executive order establishing a 10% baseline tariff on all imports from all countries, which took effect on April 5. Harsher reciprocal tariffs on trading partners with which the US has the largest trade deficits are scheduled to kick in on April 9.

Ackman — who famously said “crypto is here to stay” after the FTX collapse in November 2022 — said Trump captured the attention of the world and US trading partners, backing the tariffs as necessary after what he called an “unfair tariff regime” that hurt US workers and economy “over many decades.” 

Following Trump’s announcement on April 2, the US stock market shed more value during the April 4 trading session than the entire crypto market is currently worth. The fact that crypto held up better than the US stock market caught the attention of both crypto industry supporters and skeptics.

United States, Donald Trump

Source: Cameron Winklevoss

Prominent crypto voices such as BitMEX co-founder Arthur Hayes and Gemini co-founder Cameron Winklevoss also recently showed their support for Trump’s tariffs.

Related: Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Ackman said a pause would be a logical move by Trump — not just to allow time for closing potential deals but also to give companies of all sizes “time to prepare for changes.” He added:

“The risk of not doing so is that the massive increase in uncertainty drives the economy into a recession, potentially a severe one.”

Ackman said April 7 will be “one of the more interesting days” in US economic history.

Magazine: New ‘MemeStrategy’ Bitcoin firm by 9GAG, jailed CEO’s $3.5M bonus: Asia Express

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