Keir Starmer accuses ‘weak’ Sunak of harbouring ‘extremists’ in his party

Published

1 year ago

February 25, 2024

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Sir Keir Starmer has accused the prime minister of harbouring extremists in his party after a senior Tory MP was suspended for “Islamophobic” comments.

The Labour leader said Rishi Sunak’s “weakness” allowed Lee Anderson “to act with impunity” and that he “needs to get a grip and take on the extremists in his party”.

Sir Keir said it was “right” that Mr Anderson lost the whip after what he called an “appalling racist and Islamophobic outburst”.

He added: “But what does it say about the prime minister’s judgement that he made Lee Anderson deputy chairman of his party?

“Whether it is Liz Truss staying silent on Tommy Robinson or Suella Braverman’s extreme rhetoric, Rishi Sunak’s weakness means Tory MPs can act with impunity.

“This isn’t just embarrassing for the Conservative party, it emboldens the worst forces in our politics.”

It came as Mr Sunak released his own statement, criticising those who have threatened and targeted MPs over the ongoing Israel-Hamas war and saying British democracy must not “fall into polarised camps who hate each other”.

Mr Sunak said: “The events of recent weeks are but the latest in an emerging pattern which should not be tolerated.

“Legitimate protests hijacked by extremists to promote and glorify terrorism, elected representatives verbally threatened and physically, violently targeted and antisemitic tropes beamed onto our own parliament building.”

Referring to when the Commons Speaker broke convention in a Gaza ceasefire debate this week out of fears’ for MPs’ safety, Mr Sunak said: “And in parliament this week a very dangerous signal was sent that this sort of intimidation works. It is toxic for our society and our politics and is an affront to the liberties and values we hold dear here in Britain.”

His statement made no mention of Mr Anderson or his comments.

What Rishi Sunak didn’t say is more notable than what he did

The prime minister’s comments were notable because of what he chose to omit.

On a day when the party was rocked by allegations of Islamophobia and anti-Muslim hatred- a day when it had to suspend one of its own MPs because of these very issues- Rishi Sunak chose to make some comments.

Instead of condemning the remarks or distancing the party from them, the prime minister chose not to make any reference to them at all, rather, he chose to speak more explicitly about antisemitsm.

The prime minister said: “The explosion in prejudice and antisemitism since the Hamas attacks on the 7 October are as unacceptable as they are un-British. Simply put antisemitism is racism”.

We know that hate crime towards both Muslim and Jewish communities has been rising since 7 October.

However, some may question why, after a day like this, Mr Sunak chose to omit explicit reference to Muslim communities.

These comments, and the tone of the remarks, do not challenge the prevailing view held in some quarters that the Conservative party doesn’t take Islamophobia seriously.

The prime minister avoids using the word at all when discussing anti-Muslim hatred.

Of course, the Labour party, which over the years has faced accusations of antisemitism, had no such problem calling it out.

Sir Kier Starmer said: “It’s right that Lee Anderson has lost the whip after his appalling racist and Islamophobic outburst against Sadiq Khan.”

He went on to question Mr Sunak’s judgement saying he needed to get a grip of “extremists” in his own party.

The incident does expose how difficult the prime minister is finding it to exert authority over his fracturing right-wing coalition and create some semblance of a unified identity for his party.

He knows that he needs to placate the right of his party, which sometimes means turning a blind eye to some of its more outspoken characters, like Suella Braverman and Liz Truss.

However, there’s a line and it’s becoming more and more difficult for the prime minister to tread.

With this statement the prime minister was, once again, speaking to this right-wing faction (on a day when they lost a key figure in Lee Anderson) instead of the communities that may have been affected by his remarks.

On Wednesday, Speaker Sir Lindsay Hoyle said he selected multiple amendments to the motion to call for an immediate ceasefire in Gaza in a bid to ensure all options were on the table for MPs to vote on – as well as protecting MPs’ safety.

Mr Sunak’s party suspended Mr Anderson, the former Tory deputy chairman, hours before he released the statement.

Mr Anderson claimed on GB News earlier this week – without evidence – that “Islamists” had “got control” of Mr Khan, leading to outcry from both sides of the political divide.

The Ashfield MP said he accepts the Tory party had “no option” but to suspend him.

“However, I will continue to support the government’s efforts to call out extremism in all its forms – be that antisemitism or Islamophobia,” he said.

Politics

Crypto stocks down, IPOs punted amid tariff tumult

Published

3 hours ago

April 4, 2025

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Crypto stocks down, IPOs punted amid tariff tumult

Cryptocurrency firms felt the heat from US President Donald Trump’s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO) plans.

From exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not more, than shares of other companies — despite the industry’s warm relationship with the US president.

On April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional “reciprocal” tariffs on some 57 countries.

Since then, major US stock indices — including the S&P 500 and Nasdaq — tumbled by roughly 10% as traders braced for a looming trade war.

Sharp selloffs

Crypto exchange Coinbase — a prominent ally of Trump during the November US elections — experienced a similarly severe sell-off, with its stock price dropping by roughly 12% during the same period, according to data from Google Finance.

Bitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) — which tracks a diverse basket of Bitcoin mining stocks — has lost roughly 13% of its value since immediately prior to Trump’s April 2 announcement, according to data from Morningstar.

Even Strategy, one of the best-performing stocks of 2024, wasn’t immune. Its share price has fallen by around 6% on the news, Google Finance data showed.

According to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously.

“Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,” JP Morgan reportedly said.

“The effect … is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.”

IPO delays

The impact of US tariffs hasn’t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing market turbulence.

According to The Wall Street Journal, Circle is “waiting anxiously” before taking further steps after filing to take the company public on April 1.

It is among several companies — including fintech Klarna and ticketing service StubHub — reportedly considering altering or shelving IPO plans.

One exception may be Bitcoin itself, which some analysts say is finally “decoupling” from the broader market.

Bitcoin’s spot price has held above $82,000 this week, even as US equities markets collapsed.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

Politics

Brazilian court authorizes crypto seizure for debt collection — Report

Published

4 hours ago

April 4, 2025

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Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian judges have been authorized to seize cryptocurrency assets from debtors who owe money and are behind on their payments, signaling a growing recognition that digital assets can be both a form of payment and a store of value.

According to local media reports, the Third Panel of Brazil’s Superior Court of Justice unanimously authorized judges to send letters to cryptocurrency brokers informing them about their intent to seize an account holder’s assets to repay creditors.

The report was confirmed by the Superior Court of Justice, which issued a notice on its website.

The decision was reached unanimously by the Third Panel, which reviewed a case brought forward by a creditor.

“Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value,” a translated version of the Superior Court of Justice’s memo read.

Under existing rules, Brazilian judges are allowed to freeze bank accounts and order fund withdrawals, even without a debtor’s knowledge, should they rule that a creditor is owed money.

Following the recent decision, crypto assets now fall under the same purview.

Minister Ricardo Villas Bôas Cueva, who voted in the five-person panel, said cryptocurrencies still lack formal regulation in Brazil but noted certain bills have recognized the asset class as “a digital representation of value.”

Despite regulatory uncertainty, Brazil is a major hub for crypto

Although Brazil still lacks an overarching framework for digital assets, with the country’s central bank divvying up the regulatory processes into phases, crypto adoption is surging across the country.

Brazil ranks second among all Latin American countries in terms of “crypto value received,” which is a key benchmark for adoption, according to an October report by Chainalysis.

Earlier this year, crypto exchange Binance was granted approval to operate in the country after it acquired a São Paulo-based investment company.

A Binance executive told Cointelegraph at the time that Brazil was making “significant strides” in regulating the industry and expects a comprehensive framework to be finalized “by mid-year.”

Nevertheless, not all of Brazil’s regulatory proposals have been favorable for the industry.

In December, the country’s central bank proposed banning stablecoin transactions on self-custodial wallets at a time when more locals were using dollar-pegged tokens to hedge against the devaluation of the Brazilian real.

Industry observers told Cointelegraph at the time that such a ban would be difficult to enforce.

“Governments can regulate centralized exchanges, but P2P transactions and decentralized platforms are much harder to control, which means the ban would likely only affect part of the ecosystem,” said Lucien Bourdon, an analyst with Trezor.

Politics

‘Will the PM side with parents or tech bros?’: Labour peer demands action on children’s smartphone safety

Published

5 hours ago

April 4, 2025

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'Will the PM side with parents or tech bros?': Labour peer demands action on children's smartphone safety

Sir Keir Starmer needs to choose between parents who want stronger action to tackle harmful content on children’s phones, or the “tech bros” who are resisting changes to their platforms, Baroness Harriet Harman has said.

Speaking to Beth Rigby on Sky News’ Electoral Dysfunction podcast, the Labour peer noted that the prime minister met with the creators of hit Netflix drama Adolescence to discuss safety on social media, but she questioned if he is going to take action to “stop the tech companies allowing this sort of stuff” on their platforms where children can access it.

Sir Keir hosted a roundtable on Monday with Adolescence co-writer Jack Thorne and producer Jo Johnson to discuss issues raised in the series, which centres on a 13-year-old boy arrested for the murder of a young girl, and the rise of incel culture.

Politics latest: Could the UK retaliate against Trump?

The aim was to discuss how to prevent young boys being dragged into a “whirlpool of hatred and misogyny”, and the prime minister said the four-part series raises questions about how to keep young people safe from technology.

Sir Keir has backed calls for the four-part drama to be shown in all schools across the country, but Baroness Harman questioned what is going to be achieved by having young people simply watch the show.

“Two questions were raised [for me],” she said. ” Firstly – after they’ve watched it, what is going to be the discussion afterwards?

“And secondly, is he going to act to stop the tech companies allowing this sort of stuff to go online into smartphones without protection of children?

“Because if the tech companies wanted to do this, they could actually protect children. They can do everything they want with their tech.”

She acknowledged there are “very big public policy challenges” in this area, but added of the prime minister: “Is he going to side with parents who are terrified and want this content off their children’s phones, or is he going to accept the tech bros’ resistance to having to make changes?”

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Can parliament keep up?

The Labour peer backed the Conservative Party’s call for a ban on smartphones in schools to be mandated from Westminster, saying it would “enable all schools not to have a discussion with their parents or to battle it out, but just to say, this is the ruling” from central government, which Ofsted would then enforce.

“I’m sensitive to the idea that we shouldn’t constantly be telling schools what to do,” she continued. “And they’ve got a lot of common sense and a lot of professional experience, and they should have as much autonomy as possible.

“But perhaps it’s easier for them if it’s done top down.”

Baroness Harman also questioned the speed with which parliament is actually able to legislate to deal with the very rapid development of new technologies, and posits that it could “change its processes to be able to legislate in real time”.

She suggested that a “powerful select committee” of MPs could be established to do that, because “otherwise we talk about it, and then we’re not able to legislate for 10 years – by which time that problem has really set in, and we’ve got a whole load more problems”.

On the podcast, the trio also discussed the 10% tariffs imposed on the UK by Donald Trump and the government’s efforts to strike a trade deal with the US to mitigate the impact of the levy.

The government has refused to rule out scrapping the Digital Services Tax, a 2% levy on tech giants’ revenues in the UK, as part of the negotiations with the Trump administration – a move Baroness Harman said would be “very heartbreaking”.

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