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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.

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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.

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.

Prime Minister Rishi Sunak, right, with Ukrainian President Volodymyr Zelenskyy at a UK military facility in Dorset in February last year. Pic: Reuters
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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.

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
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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

The Conservatives have pledged to reach 2.5% of GDP spending by 2030 and claim Labour has no plans to do so.

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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Privately, many Tories think defeat is inevitable

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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.

Rishi Sunak and Sir Keir Starmer react on the day of the State Opening of Parliament in November 2023. Pic: AP
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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.

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Post-Brexit EU reset negotiations ‘going to the wire’, says minister

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Post-Brexit EU reset negotiations 'going to the wire', says minister

Negotiations to reset the UK’s post-Brexit relationship with the EU are going “to the wire”, a Cabinet Office minister has said.

“There is no final deal as yet. We are in the very final hours,” the UK’s lead negotiator Nick Thomas-Symonds told Sky’s Sunday Morning with Trevor Phillips.

On the possibility of a youth mobility scheme with the EU, he insisted “nothing is agreed until everything is”.

“We would be open to a smart, controlled youth mobility scheme,” he said. “But I should set out, we will not return to freedom of movement.”

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The government is set to host EU leaders in London on Monday.

Put to the minister that the government could not guarantee there will be a deal by tomorrow afternoon, Mr Thomas-Symonds said: “Nobody can guarantee anything when you have two parties in a negotiation.”

But the minister said he remained “confident” a deal could be reached “that makes our borders more secure, is good for jobs and growth, and brings people’s household bills down”.

“That is what is in our national interest and that’s what we will continue to do over these final hours,” he said.

“We have certainly been taking what I have called a ruthlessly pragmatic approach.”

On agricultural products, food and drink, Mr Thomas-Symonds said supermarkets were crying out for a deal because the status quo “isn’t working”, with “lorries stuck for 16 hours and food rotting” and producers and farmers unable to export goods because of the amount of “red tape”.

Asked how much people could expect to save on shopping as a result of the deal the government was hoping to negotiate, the minister was unable to give a figure.

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On the issue of fishing, asked if a deal would mean allowing French boats into British waters, the minister said the Brexit deal which reduced EU fishing in UK waters by a quarter over five years comes to an end next year.

He said the objectives now included “an overall deal in the interest of our fishers, easier access to markets to sell our fish and looking after our oceans”.

Turning to borders, the minister was asked if people would be able to move through queues at airports faster.

Again, he could not give a definitive answer, but said it was “certainly something we have been pushing with the EU… we want British people who are going on holiday to be able to go and enjoy their holiday, and not be stuck in queues”.

PM opens door to EU youth mobility scheme

A deal granting the UK access to a major EU defence fund could be on the table, according to reports – and Prime Minister Sir Keir Starmer has appeared to signal a youth mobility deal could be possible, telling The Times that while freedom of movement is a “red line”, youth mobility does not come under this.

The European Commission has proposed opening negotiations with the UK on an agreement to facilitate youth mobility between the EU and the UK. The scheme would allow both UK and EU citizens aged between 18 and 30 years old to stay for up to four years in a country of their choosing.

Earlier this month, Home Secretary Yvette Cooper told Phillips a youth mobility scheme was not the approach the government wanted to take to bring net migration down.

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Return to customs union ‘remains a red line’

When this was put to him, Mr Thomas-Symonds insisted any deal on a youth mobility scheme with Europe will have to be “smart” and “controlled” and will be “consistent” with the government’s immigration policy.

Asked what the government had got in return for a youth mobility scheme – now there had been a change in approach – the minister said: “It is about an overall balanced package that works for Britain. The government is 100% behind the objective of getting net migration down.”

Phillips said more than a million young people came to the country between 2004 and 2015. “If there isn’t a cap – that’s what we are talking about,” he said.

The minister insisted such a scheme would be “controlled” – but refused to say whether there would be a cap.

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‘It’s going to be a bad deal’

Shadow cabinet office minister Alex Burghart told Phillips an uncapped youth mobility scheme with the EU would lead to “much higher immigration”, adding: “It sounds very much as though it’s going to be a bad deal.”

Asked if the Conservatives would scrap any EU deal, he said: “It depends what the deal is, Trevor. And we still, even at this late stage, we don’t know.

“The government can’t tell us whether everyone will be able to come. They can’t tell us how old the young person is. They can’t tell us what benefits they would get.

“So I think when people hear about a youth mobility scheme, they think about an 18-year-old coming over working at a bar. But actually we may well be looking at a scheme which allows 30-year-olds to come over and have access to the NHS on day one, to claim benefits on day one, to bring their extended families.”

He added: “So there are obviously very considerable disadvantages to the UK if this deal is done in the wrong way.”

Jose Manuel Barroso, former EU Commission president, told Phillips it “makes sense” for a stronger relationship to exist between the European Union and the UK, adding: “We are stronger together.”

He said he understood fishing and youth mobility are the key sticking points for a UK-EU deal.

“Frankly, what is at stake… is much more important than those specific issues,” he said.

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Retired artist loses $2M in crypto to Coinbase impersonator

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Retired artist loses M in crypto to Coinbase impersonator

Retired artist loses M in crypto to Coinbase impersonator

Retired artist Ed Suman lost over $2 million in cryptocurrency earlier this year after falling victim to a scam involving someone posing as a Coinbase support representative.

Suman, 67, spent nearly two decades as a fabricator in the art world, helping build high-profile works such as Jeff Koons’ Balloon Dog sculptures, according to a May 17 report by Bloomberg.

After retiring, he turned to cryptocurrency investing, eventually accumulating 17.5 Bitcoin (BTC) and 225 Ether (ETH) — a portfolio that comprised most of his retirement savings.

He stored the funds in a Trezor Model One, a hardware wallet commonly used by crypto holders to avoid the risks of exchange hacks. But in March, Suman received a text message appearing to be from Coinbase, warning him of unauthorized account access.

After responding, he got a phone call from a man identifying himself as a Coinbase security staffer named Brett Miller. The caller appeared knowledgeable, correctly stating that Suman’s funds were stored in a hardware wallet.

He then convinced Suman that his wallet could still be vulnerable and walked him through a “security procedure” that involved entering his seed phrase into a website mimicking Coinbase’s interface.

Nine days later, a second caller claiming to be from Coinbase repeated the process. By the end of that call, all of Suman’s crypto holdings were gone.

Retired artist loses $2M in crypto to Coinbase impersonator
Crypto scammers impersonate Coinbase support. Source: NanoBaiter

Related: Bitcoin breaks out while Coinbase breaks down: Finance Redefined

Coinbase suffers major data breach

The scam followed a data breach at Coinbase disclosed this week, in which attackers bribed customer support staff in India to access sensitive user information.

Stolen data included customer names, account balances, and transaction histories. Coinbase confirmed the breach impacted roughly 1% of its monthly transacting users.

Among those affected was venture capitalist Roelof Botha, managing partner at Sequoia Capital. There is no indication that his funds were accessed, and Botha declined to comment.

Coinbase’s chief security officer, Philip Martin, reportedly said the contracted customer service agents at the center of the controversy were based in India and had been fired following the breach.

The exchange has also said it plans to pay between $180 million and $400 million in remediation and reimbursement to affected users.

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UK to require crypto firms to report every customer transaction

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UK to require crypto firms to report every customer transaction

UK to require crypto firms to report every customer transaction

United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said.

Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement.

Details of companies, trusts and charities transacting on crypto platforms will also need to be reported.

Failure to comply or inaccurate reporting may incur penalties of up to 300 British pounds ($398.4) per user. The UK Revenue and Customs department said it would inform companies on how to comply with the incoming measures in due course.

However, UK authorities are encouraging crypto firms to start collecting data now to ensure compliance readiness.

The new rule is part of the UK’s integration of the Organisation for Economic Development’s Cryptoasset Reporting Framework to improve transparency in crypto tax reporting.

The changes reflect the UK government’s aim to establish a more robust regulatory framework that supports industry growth while ensuring consumer protection.

Related: Bitwise lists four crypto ETPs on London Stock Exchange

UK Chancellor Rachel Reeves also introduced a draft bill in late April to bring crypto exchanges, custodians and broker-dealers within its regulatory reach to combat scams and fraud.

“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” Reeves said at the time.

A study from the UK’s Financial Conduct Authority last November found that 12% of UK adults owned crypto in 2024 — a significant increase from the 4% reported in 2021.

UK’s approach contrasts with EU’s MiCA

The UK’s move to integrate the crypto rules into its existing financial framework contrasts with the European Union’s approach, which introduced the new Markets in Crypto-Assets Regulation framework last year.

According to the MiCA Crypto Alliance, one key difference is that the UK will allow foreign stablecoin issuers to operate in the UK without needing to register.

There will also be no cap on stablecoin volumes, unlike the EU’s approach, which may impose controls on stablecoin issuers to manage systemic risks.

UK to require crypto firms to report every customer transaction
Source: MiCA Crypto Alliance

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