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Sir Keir Starmer will announce later today that the UK’s nuclear deterrent is the “bedrock” of his plan to keep Britain safe.

If elected, the Labour leader plans for his party to prioritise defence procurement to strengthen UK security and economic growth, with an aim to direct British defence investment to British business first, with a higher bar set for any decision to buy abroad.

It comes as Sir Keir confirmed his ambition was to boost the defence budget to 2.5% of GDP, if it fits with Labour’s fiscal rules, according to an interview with the i newspaper.

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He is expected to make the announcement during a trip to a shipyard in Barrow-in-Furness, Cumbria, to see nuclear submarines being built – the first visit of its kind by a Labour leader in more than 30 years.

Sir Keir is set to say: “The changed Labour Party I lead knows that our nation’s defence must always come first. Labour’s commitment to our nuclear deterrent is total.

“In the face of rising global threats and growing Russian aggression, the UK’s nuclear deterrent is the bedrock of Labour’s plan to keep Britain safe. It will ensure vital protection for the UK and our Nato allies in the years ahead, as well as supporting thousands of high-paying jobs across the UK.”

The Labour leader will also affirm the party’s commitment to the Aukus security pact and will pledge that the submarines should be built in Barrow “for decades to come”.

EMBARGOED TO 0001 WEDNESDAY MARCH 13 File photo dated 11/03/24 of Labour leader Sir Keir Starmer, who has said he is "committed" to allowing a vote on legalising assisted dying in the next Parliament. The Labour leader made the pledge to campaigner Dame Esther Rantzen, whose revelation that she had joined the Dignitas assisted dying clinic in Switzerland has put the subject under the spotlight in recent months. Issue date: Wednesday March 13, 2024.
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Pic: PA

During the visit, Sir Keir will speak to workers, union members and apprentices from the shipyard, alongside shadow defence secretary, John Healey, and Australian high commissioner to the UK Stephen Smith.

The party is set to campaign on its commitment to the nuclear deterrent in key communities in the nuclear supply chain, including: Plymouth Moor View, home to the Devonport shipyard; Filton and Bradley Stoke, home of Abbey Wood; and Argyll, Bute and South Lochaber, home to HMNB Clyde.

Mr Healey will add: “A strong defence industrial strategy will be hardwired into Labour’s mission 1 in government to drive economic growth across the UK. We will make it fundamental to direct defence investment first to British jobs and British industry.”

Construction of the Ambush submarine at the BAE Systems in Barrow-in Furness.
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Construction of the Ambush submarine in Barrow-in Furness. File pic: PA

‘Attempted distraction’ and ‘grotesque’ visit

Reacting to Sir Keir’s shipyard visit, Defence Secretary Grant Shapps claimed the trip was an “attempted distraction” from the “scandal” surrounding Angela Rayner, Labour’s deputy leader, who is continuing to face questions over her living arrangements and tax affairs before she became an MP.

He said Sir Keir and Mr Healey, “tried twice to put Jeremy Corbyn in charge of the nation’s armed forces”.

Referring to David Lammy, he said Labour’s shadow foreign secretary “even voted repeatedly to scrap Trident”.

“They are not the party to be trusted with our nation’s defences,” he added.

“This is just another attempted distraction from the Angela Rayner scandal. If Sir Keir Starmer cannot show leadership on this issue, how can he be trusted to make decision on national security.”

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‘Is spending 2.5% of GDP on defence enough?’

The SNP, which opposes having a nuclear deterrent in the UK, also criticised the visit as “grotesque” and accused Labour of throwing “billions more down the drain”.

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The party’s defence spokesperson Martin Docherty-Hughes said: “Westminster has already wasted billions of pounds of taxpayers’ money on nuclear weapons and expensive nuclear energy.

“It is therefore grotesque that Sir Keir Starmer is prepared to throw billions more down the drain when his party claim there is no money to improve our NHS, help families with the cost of living or to properly invest in our green energy future.

“This money would be better spent on a raft of other things – not least investing in the green energy gold rush, which would ensure Scotland, with all its renewable energy potential, could be a green energy powerhouse of the 21st century.”

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Connecticut can’t take action against Kalshi for now, judge rules

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Connecticut can’t take action against Kalshi for now, judge rules

A US judge has granted prediction markets platform Kalshi a temporary reprieve from enforcement after the state of Connecticut sent it a cease and desist order last week for allegedly conducting unlicensed gambling.

The Connecticut Department of Consumer Protection (DCP) sent Kalshi, along with Robinhood and Crypto.com, cease and desist orders on Dec. 2, accusing them of “conducting unlicensed online gambling, more specifically sports wagering, in Connecticut through its online sports event contracts.”

Kalshi sued the DCP a day later, arguing its event contracts “are lawful under federal law” and its platform was subject to the Commodity Futures Trading Commission’s “exclusive jurisdiction,” and filed a motion on Friday to temporarily stop the DCP’s action.

An excerpt from Kalshi’s preliminary injunction motion arguing that the DCP’s action violates federal commodities laws. Source: CourtListener

Connecticut federal court judge Vernon Oliver said in an order on Monday that the DCP must “refrain from taking enforcement action against Kalshi” as the court considers the company’s bid to temporarily stop the regulator.

The order adds that the DCP should file a response to the company by Jan. 9 and Kalshi should file further support for its motion by Jan. 30, with oral arguments for the case to be held in mid-February.

Kalshi does battle with multiple US states

Kalshi is a federally regulated designated contract maker under the CFTC and, in January, began offering contracts nationally that allow bets on the outcome of events such as sports and politics.

Related: How prediction markets raise insider trading and credit risks

Its platform has become hugely popular this year and saw a record $4.54 billion monthly trading volume in November, attracting billions in investments, with Kalshi closing a $1 billion funding round earlier this month at a valuation of $11 billion.

However, multiple US state regulators have taken issue with Kalshi’s offerings, which have led to the company being embroiled in lawsuits over whether it is subject to state-level gambling laws.