Whether you heard the wet outdoor version of Rishi Sunak’s election campaign launch or the dry indoor one, his message on national security was the same.
“The world is more dangerous than it has been at any point since the end of the Cold War,” he told the small banner-waving crowd bussed in to the Excel centre, and it is only “we Conservatives who have that plan and are prepared to take that bold action to ensure the better future for our country and our children.”
The Conservative leader likes to remind voters that his Labour opponent, Sir Keir Starmer, served under and supported his predecessor, Jeremy Corbyn, who opposed Britain’s membership of NATO and the nation’s nuclear deterrent.
Labour has chosen the single word “change” as their main campaign slogan.
Sir Keir’s Labour Party has certainly changed a lot since the days of Mr Corbyn in relation to his views on defence.
Mr Corbyn has been kicked out of Labour on antisemitism issues and is challenging his old party as an independent in the Islington North constituency, which he has represented for 40 years.
Meanwhile, danger signals are flashing red over the conflicts in Ukraine and Israel and Gaza, amid identification of a new axis of anti-Western aggression, dubbed CRINK from the initial letters of China, Russia, Iran and North Korea.
Foreign policy is seldom a determining factor in UK general elections.
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All politicians agree with opinion polls which show that voters are usually much more concerned with domestic issues such as the NHS, the economy and law and order.
Yet Conservative campaigners clearly see it as one of their main attack lines against Labour in this election.
Image: Prime Minister Rishi Sunak, right, with Ukrainian President Volodymyr Zelenskyy at a UK military facility in Dorset in February last year. Pic: Reuters
Labour and Tories have similar plans on defence
Over the next six weeks we will find out how important defence is to the electorate and whether an untrustful public really sees any big dividing line between the two main parties on the issue.
They will not find any great difference if Sir Keir has his way, although in a bid not to stir up dissidents in his own ranks he has not made defence a key topic.
The morning before the election was called he withdrew from speaking at the London Defence Conference, perhaps reluctant to be pinned down on spending plans. His shadow defence secretary John Healey and shadow foreign secretary David Lammy went along instead.
Sir Keir has said repeatedly that national security is the first duty of any government.
Labour’s “change” posters are fringed with parts of the Union Jack.
Before the campaign, Sir Keir did his best to show that this is one area where there is more likely to be “no change” than “change”, if he replaces Mr Sunak as prime minister in July.
He visited the BAE Systems submarine works in Barrow-in-Furness, declaring his commitment to nuclear weapons to be “absolute” and “unshakeable”. In the extreme circumstances he pledged to press the nuclear button.
Sir Keir and his team visited Ukraine to demonstrate their support, including backing the current government’s plan for a Europe-leading £3bn annual funding.
Image: Sir Keir Starmer during a visit to Tapa Military Base in Estonia, where British armed forces are deployed as part of NATO commitments. Pic: PA
But this week Mr Healey committed to matching the target “as soon as we can”.
The defence conference audience were unimpressed, however, when he said Labour would launch another year-long defence review should it win on 4 July.
If Labour is as close as it claims to the present government’s security policy this seems to be a waste of time.
In truth neither party has explained adequately how they would fund this extra spending, since it is predicated on the unfeasibly large cuts planned in other public spending in the next parliament to which both have nominally accepted.
This convoluted controversy might rouse core Conservative voters but it is unlikely to interest the wider electorate.
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Is the UK prepared for war?
Voters unlikely to want cuts to help fund defence
Many defence experts believe 2.5% is just the low end of what should be spent to stay safe from the increased threats the prime minister identified.
Britain’s level of defence spending was significantly higher during the Cold War and last at 2.5% at the end of the New Labour government.
This week Deputy Prime Minister Oliver Dowden has added to the anxiety, talking up the threat from cyberattacks and urging citizens to stockpile vital supplies in case of emergencies.
But it would be hard to persuade voters to accept cuts in health, education or welfare to fund defence, and none of the parties are doing so in this election.
Image: Rishi Sunak and Sir Keir Starmer on the day of the State Opening of Parliament in November 2023. Pic: AP
How Starmer’s Gaza stance could lose Labour votes
Concerns about security have risen in opinion polls but it is not a top-tier issue for voters. Traditionally it has been something where the Conservatives have been most trusted but surveys this year show Labour level with or ahead of the Tories.
On the other side of the argument, Labour’s strong line on defence could also cost it some votes.
Since the Hamas terror attacks on 7 October, there has been little difference between Mr Sunak and Sir Keir as they insisted Israel had a right to defend itself, including striking Gaza.
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PM ‘sounding desperate’ over TV debates
In some parts of the country, there is already evidence this could cost Labour votes, particularly where there is a significant Muslim population or a concentration of so-called “urban progressives”.
In May’s local elections, switchers from Labour to the Greens resulted in a record performance by the party. There are estimates that a similar voting pattern in the general election could cost Labour up to a dozen seats.
This would cut into Sir Keir’s hopes of a large majority and it is another reason why Labour will try to skirt divisive foreign policy issues during this campaign.
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Sunak releases election launch video
There is, of course, a possibility that a dramatic and violent development in warfare at home or abroad could galvanize the campaign.
Short of that the responsibilities of national security and foreign policy are set to weigh more heavily on the eventual winner than on the minds of the voters.
Within five days of the general election one of them will have to represent the UK at the NATO Summit in Washington DC from 9 to 11 July.
It is the 75th anniversary of the organisation and is being seen as the most important in its history, with major challenges to confront as a major European war rages in Ukraine.
The week after that Prime Minister Starmer or Sunak will host national leaders from the new European Political Community – an organisation calling out for Brexit Britain to make a major contribution to the defence of the continent.
Cryptocurrency scammers have impersonated Australian police and exploited government infrastructure to pressure victims into handing over their digital assets, the Australian Federal Police (AFP) said Thursday.
The AFP said scammers used the local cybercrime reporting tool ReportCyber to submit reports about their targets. At a later time, they contact the victims posing as police and inviting them to check the report on government websites, lending credibility to the scammers.
In one case, the scammers warned the victim that they would be contacted by a representative from a crypto company, who would also provide information to prove their legitimacy. This second caller then attempted to persuade the target to transfer money from their platform wallet to a wallet of their choice.
“Thankfully the target became suspicious and hung up,“ the AFP said.
AFP Detective Superintendent Marie Andersson said the scammers falsely claimed that an individual had been arrested and the victim identified in an investigation involving a crypto breach. She noted that the scammers’ verification steps often resembled legitimate law-enforcement procedures, making the scheme “highly convincing” to some victims.
Andersson said this was part of a broader trend in scams becoming increasingly sophisticated. She encouraged “Australians to adopt necessary safety measures online” and warned that “if you’re contacted by someone about a ReportCyber report you didn’t lodge or authorise someone to make on your behalf, terminate the call and notify ReportCyber.
“Also bear in mind legitimate law enforcement officials will never request access to your cryptocurrency accounts, wallets, bank accounts, cryptocurrency wallet seed phrases, or any personal information relating to your financial accounts.”
In late October, the AFP announced that it had cracked a coded cryptocurrency wallet backup containing 9 million Australian dollars ($5.9 million) — suspected to be the proceeds of a crime.
In late August, Australia’s markets regulator was reported to be expanding its campaign against online scams, having taken down 14,000 since July 2023, with over 3,000 involving cryptocurrency.
In July, authorities in the Australian island state of Tasmania found that the top 15 users of crypto ATMs in the state were all victims of scams, with combined losses of $1.6 million.
Taiwan is preparing to issue a report on its Bitcoin holdings, signaling that officials are weighing whether the country should follow the United States in creating a national Bitcoin reserve.
Zhuo Rongtai, premier of the Republic of China (Taiwan), said the country is preparing a report to assess the total amount of Bitcoin (BTC) confiscated by domestic agencies.
The report will be issued before the end of the year, said Rongtai during a legislative general fiscal inquiry meeting with the Finance Committee on Tuesday.
When asked about the fate of the confiscated Bitcoin, legislator Ge Rujun proposed that Taiwan’s government “hold it unchanged” before deciding whether to liquidate the assets or include them in a strategic reserve, according to local media outlet Blocktempo.
Rongtai’s forthcoming report will also include a list of “pros and cons” for creating a strategic Bitcoin reserve, marking the first time Taiwanese officials have publicly considered BTC as a reserve asset.
The premier’s pledge to “study” Bitcoin for a strategic reserve asset and draft more Bitcoin-friendly regulations in the next six months is a “breakthrough” for the country, wrote Ko Ju-Chun, a lawmaker in Taiwan’s unicameral legislature, the Legislative Yuan, in a Tuesday X post.
Governmental interest in Bitcoin started rising after March 7, when US President Donald Trump signed an executive order outlining a plan to create a Strategic Bitcoin Reserve, initially using cryptocurrency forfeited in government criminal cases, Cointelegraph reported.
The Bitcoin reserve marked the “first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset for a more stable and sound monetary system,” said Joe Burnett, head of market research at Unchained, at the time.
Taiwan legislators are calling for a Bitcoin reserve as a hedge against global uncertainty
While Taiwan has yet to make an official move, lawmakers have previously called for the creation of a Bitcoin reserve.
In May, Ju-Chun called for the government to consider adding Bitcoin to its national reserve, citing Bitcoin’s potential to serve as a hedge amid global economic uncertainty, during a speech to the Taiwanese government at the National Conference on May 9.
Ko Ju-Chun advocated for the adoption of Bitcoin by the Taiwanese government before the Legislative Yuan. Source: Ko Ju-Chun
The lawmaker previously suggested a maximum allocation of 5% of Taiwan’s $50 billion reserve.
Taiwan has been exploring more crypto-friendly regulations to bolster institutional cryptocurrency adoption. In October 2024, the Financial Supervisory Commission (FSC) of Taiwan announced the launch of a trial for crypto custody services for financial institutions.
The crypto community is bracing for the launch of the first spot XRP exchange-traded fund (ETF) after Nasdaq certified the listing of Canary Capital’s XRP ETF.
The Nasdaq Stock Market exchange on Wednesday officially notified the US Securities and Exchange Commission that it has received the Form 8‑A filing for the Canary XRP ETF (XRPC).
“The official listing notice for XRPC has arrived from Nasdaq,” Bloomberg’s senior ETF analyst Eric Balchunas wrote on X, adding: “Looks like tomorrow is on for the launch.”
While ETF watchers expect Canary’s spot XRP (XRP) ETF to debut trading on Thursday, the SEC has yet to issue its final approval for trading to commence, leaving the debut uncertain heading into the market open.
The sixth single crypto asset ETF
Nate Geraci, president of NovaDius Wealth Management, took to X on Thursday to report that Canary had launched its website for the Canary XRP ETF, highlighting the likely soon-to-come trading launch.
“Canary Capital will be first to market,” Geraci said, adding that its XRP ETF would be the sixth single crypto asset in the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Source: Eric Balchunas
Other industry observers, including Crypto America’s Eleanor Terrett, shared optimism on X, noting that Nasdaq had “cleared XRPC for launch at market open” on Thursday, but some cautioned that the exchange’s letter was procedural and does not authorize trading.
“The Nasdaq letter itself does not say the ETF is effective — it only says Nasdaq approved the listing and joined the registrant’s request for SEC effectiveness,” one commentator wrote, adding that the certification is a “routine procedural letter, not confirmation that trading will start.”
With trading going live on Oct. 28, some ETF observers have suggested that these new crypto funds relied on “automatic effectiveness” provisions during the government shutdown.