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Sir Keir Starmer’s tour of key battlegrounds kicked off in Scotland on Friday. His message was singular: change. And his target was singular, too: take out the SNP.

In four elections on the bounce, Labour has been nearly wiped out in Scotland by the SNP. In 2019, the party returned one MP to Westminster from Scotland. It now has two. The task in this election campaign is to turn that into dozens.

“This is an election about change, and Scotland’s voice is vital. It needs to be a leading voice,” he said in a slick campaign event with hundreds of people holding up “change” placards and cheering Sir Keir and Scottish Labour leader Anas Sarwar on.

General election latest: Reaction as two senior Tories stand down

“Send a message, send a message: that is the height of the SNP’s ambition, to send a message of protest to Westminster. I don’t want Scotland to send a message. I want Scotland to send a government. A Labour government.”

Ask Labour strategists, and they say Scotland is vital to get Labour over the line to a majority because of how far behind Labour were in England back in 2019. They are operating a twin attack on two failing governments – the SNP one in Holyrood and the Conservative government in Westminster – to implore voters to switch back from the SNP to kick the Tories out.

Starmer told me in Glasgow that winning in Scotland was important numerically but also to him personally, because he wants to be a prime minister, should Labour win, that governs for the whole of the UK.

More on Keir Starmer

He has been emphatic that there will be no deal with the SNP, whatever the outcome of this general election, to hammer home the point that if Scots want to be rid of the Conservatives they have to vote Labour in.

But in truth, it is not true that Labour need to win big in Scotland to win a general election.

Yes, since the 1950s, Labour hasn’t formed a majority with fewer than 40 seats in Scotland, but Tony Blair actually had a majority in 1997 on seats won in England alone.

To put it into context, there are 91 parliamentary constituencies in the South East of England and 59 in Scotland.

When the country moves against a government – like the polls are suggesting is happening now – and Labour are doing well in local elections in battlegrounds across England, they should be able to hit a majority without needing a huge amount of the 59 out of 650 parliamentary seats in Scotland.

It is, if you like, a version of Project Fear, as Labour try to sell to the Scots that a vote for the SNP is a vote to keep a Conservative government in.

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Starmer: ‘You have the power to end the chaos’

But there is also a sense – and this is where Starmer has got lucky after 14 years of SNP dominance – that the travails of the SNP, which has been embroiled in scandal around former leader Nicola Sturgeon and her husband, Peter Murrell, the former chief executive of the SNP, and a leadership crisis, has finally given Labour an open goal to win back Scottish voters that turned away from a Labour Party that had for too long taken Scotland for granted.

But as Starmer looks to steal votes from the SNP, with Scotland a key battleground, there are fault lines in this election too for the Labour leader among his base that will emerge as a big theme of this election. As we look at geographical battlegrounds – be that Scotland, the Red Wall across parts of the Midlands, the North East and North West, or the Blue Wall in pockets of the south – there are also demographic divisions emerging. And the schism between Sir Keir Starmer and Labour-voting Muslim communities over the Israel-Hamas war is perhaps one of the most salient going into this general election, with prominent MPs from Jess Phillips to Shabana Mahmood and Wes Streeting facing challenges in their constituencies.

I asked Starmer about this on our second tour stop of the day, when he travelled to South Ribble – a Labour target that switched to Labour in 1997 only to return to the Tories in 2010 – to address building depot workers.

He said, in the wake of the West Midlands mayoral victory by a whisker, that he had listened to voters (the independent candidate in this race took tens of thousands of votes from Labour).

And he left me thinking that while he has a clear message to sell to voters in Scotland, to those who feel let down by Labour, he hasn’t got the answer.

He told me there “needs to be a ceasefire straight away” and more humanitarian aid and “the beginning of a process to a two-state solution, including recognition of Palestine” but demurred from committing to formally recognising the Palestine state in its own right, as Ireland, Norway and Spain have done in recent weeks, saying that policy was to recognise Palestine as part of a two-state solution and that “it was only going to happen if we work with our partners on it”.

The US, UK and other Western countries have backed the idea of an independent Palestine existing alongside Israel, but insists statehood should come as part of a negotiated settlement.

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Starmer is at pains not to diverge from the US and other close allies as he eyes Downing Street.

But there is a cost to him when it comes to some of his traditional voters. His majority doesn’t just rest in the marginals, he has to secure his base too.

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Chancellor to hold tariff crisis talks with top City executives

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Chancellor to hold tariff crisis talks with top City executives

Rachel Reeves will seek to gauge the unfolding impact of President Donald Trump’s tariffs blitz on Wednesday when she holds talks with some of the City’s top executives.

Sky News has learnt the chancellor will hold talks with bosses from companies including Hargreaves Lansdown, Legal & General, Lloyds Banking Group and M&G amid ongoing volatility in global financial markets.

Insiders said the talks had been convened to help frame the Treasury’s financial services growth and competitiveness strategy.

However, they acknowledged that the fallout from US tariffs, while not directly affecting most City employers, would feature prominently on Wednesday’s agenda.

“The chancellor will use this meeting to show leadership, building on her statement to the House earlier today, and reiterating that the government will act decisively to take the right decisions in our national interest and protect working people,” a Treasury insider said.

Ms Reeves would stress a commitment to working with international partners to reduce barriers to trade, while pursuing the best possible bilateral deal with the US, they added.

Charlie Nunn, the Lloyds boss; Antonio Simoes of L&G; and Dan Olley, Hargreaves Lansdown’s chief, will all attend the talks.

More on Rachel Reeves

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It will be the latest in a string of meetings the chancellor has held in recent weeks in a bid to boost economic growth.

Her budget last October sparked a furious backlash from the business community, while last month’s spring statement raised fresh fears about the possibility of further tax rises later this year.

None of the companies invited to Wednesday’s meeting would comment when approached by Sky News.

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Crypto execs expect global banking push into Bitcoin by end of 2025

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Crypto execs expect global banking push into Bitcoin by end of 2025

Crypto execs expect global banking push into Bitcoin by end of 2025

Despite the ongoing market meltdown on US trade tariffs, executives at major cryptocurrency firms Messari and Sygnum are bullish on institutional Bitcoin adoption later in 2025.

Speaking on a panel at Paris Blockchain Week on April 8, Messari CEO Eric Turner and Sygnum Bank co-founder Thomas Eichenberger said they expect a significant shift in the banking sector’s involvement with crypto in the second half of the year.

According to the executives, the global banking push into Bitcoin (BTC) services has great potential to happen in the second half of 2025 as regulators embrace crypto, including stablecoins and crypto services by banks.

“I think we’re probably looking at a muted Q2, but I’m really excited for Q3 and Q4,” Messari’s Turner said during the panel discussion moderated by Cointelegraph CEO Yana Prikhodchenko, forecasting “really interesting” things coming to the crypto market in 2025.

Crypto adoption is not just about Trump

While some investors focus on the pro-crypto stance of US President Donald Trump, Turner emphasized that broader regulatory momentum is what matters most.

“When you look at the potential of having market structure regulation in the US, stablecoin regulation, and just the fact that across the board, not just President Trump himself, but the SEC and all these regulatory industries are really embracing crypto,” Turner said.

Banks, Paris, Bitcoin Regulation, Policy

Paris Blockchain Week’s panel with Cointelegraph CEO Yana Prikhodchenko, Bancor co-founder Eyal Hertzog, Sygnum co-founder Thomas Eichenberger, Messari CEO Eric Turner, AWS fintech leader Alex Matsuo and Near chief operating officer Chris Donovan. Source: Cointelegraph

Sygnum co-founder Thomas Eichenberger said international banks with US branches are also poised to enter the market once the legal landscape becomes clearer:

“I think it’s a matter of fact that US banks are preparing to be able to offer crypto custody and at least crypto spot trading services anytime soon.”

“I think by then I would agree with you, Eric,” he continued, projecting a continued phase of market uncertainty until the US establishes a clear regulatory framework.

Related: Ripple acquires crypto-friendly prime broker Hidden Road for $1.25B

Banks are no longer afraid of Bitcoin regulators

With the establishment of clear crypto rules for banks in the US, there will be a rush for crypto services by large international banks that are incorporated outside of the US but have a US-based presence, Eichenberger said.

“Some of them may have had their strategic plans in their cupboard to offer crypto-related services, but have been afraid that at some point they will be gone after by any of the  US regulatory authorities,” he said, adding:

“Now I think there’s no one to be afraid of anymore in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year.”

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

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Trump tariff negotiations are ‘all about’ China deal — Raoul Pal

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Trump tariff negotiations are ‘all about’ China deal — Raoul Pal

Trump tariff negotiations are ‘all about’ China deal — Raoul Pal

Global trade tensions triggered by US President Donald Trump’s sweeping tariff measures may come to an end with a potential deal with China as investors remain concerned about escalation from both sides.

Trump’s April 2 announcement of reciprocal import tariffs sent shockwaves through global equity and crypto markets. The measures include a 10% baseline tariff on all imported goods, effective April 5, with higher levies — such as a 34% tariff on Chinese imports — set to begin on April 9.

However, the tariff negotiations may only be “posturing” for the US to reach an agreement with China, according to Raoul Pal, founder and CEO of Global Macro Investor.

“In the end, almost all the other tariff negotiations and rhetoric are all about getting China to agree a deal,” Pal wrote in an April 8 X post, adding:

“That is the big prize and both China and the US understand it and need it. Everything else is negotiation posturing. China needs a weaker $ and the US needs tariffs.”

Trump tariff negotiations are ‘all about’ China deal — Raoul Pal

Source: Raoul Pal

“Also, the US is trying to shut down China tariff arbitrage using other channels such as Mexico or Vietnam,” Pal said.

Related: Bitcoin price can hit $250K in 2025 if Fed shifts to QE: Arthur Hayes

China retaliates with new tariffs

Considering China’s latest retaliatory measures, a resolution remains unlikely in the short term.

In response to US tariffs, China imposed a 34% tariff on all US imports effective April 10, media outlet Xinhua News reported on April 4. China’s foreign ministry also vowed to “fight till the end” against Trump’s tariffs, which it called “bullying” by the world’s largest economy.

Trump tariff negotiations are ‘all about’ China deal — Raoul Pal

China overtakes the US in global trade. Source: Econovis

China overtook the US in 2012 to become the world’s largest trading nation by the total value of exports and imports, surpassing $4 trillion in goods trade that year, according to The Guardian.

Crypto markets watch trade outcome closely

As the trade dispute continues to evolve, analysts say a potential agreement between the two global superpowers could serve as a key catalyst for recovery in digital asset markets.

Crypto markets have a 70% chance to bottom by June 2025 before recovering, Nansen analysts predicted.

Related: Crypto market bottom likely by June despite tariff fears: Finance Redefined

Investor appetite for risk assets such as Bitcoin will depend on the global tariff responses from other countries, according to Nicolai Sondergaard, a research analyst at Nansen.

“We have reached somewhat of a local bottom in regard to tariffs and the impact on prices,” the analyst said during Cointelegraph’s Chainreaction live show on X, adding:

“Trump came out guns blazing, and we’ve mostly seen the worst from the US side, so we’ll see if other countries are willing to drop some of the tariffs because it’s very likely the US will do the same.”

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

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