Connect with us

Published

on

Sir Keir Starmer will promise to “close the door” on Vladimir Putin with his homegrown energy plan – while Rishi Sunak will propose an annual visa cap to try to reduce immigration as election campaigning continues today.

The prime minister will look to win over voters after what was perhaps his toughest day of the campaign so far on Monday – with some Conservatives fearing Nigel Farage’s decision to lead the Reform party could split the Tory vote.

Mr Farage is also standing to be an MP in Clacton and will launch his campaign in the Essex constituency today.

A difficult day was made worse for Mr Sunak when a YouGov poll suggested Labour could be on course to win a historic landslide – with the party projected to win a 194-seat majority.

General election latest: Follow live updates

On day 14 of the campaign, Labour leader Sir Keir will claim his party’s plan to set up a publicly owned clean energy company, GB Energy, will help to protect the UK from spikes in the price of fuel like those that followed Russia’s invasion of Ukraine.

He will say: “With Great British Energy, my changed Labour Party will close the door on Putin.

“Energy policy is now a matter of national security. It is a key component of our country’s resilience and capacity to weather future shocks.

“We simply cannot afford to remain as vulnerable to price spikes as we have been in the past.

“Keeping the lights on and heating our homes should not mean leaving our front door open to Russia.”

Labour has said GB Energy will be headquartered in Scotland and funded through a windfall tax on big oil and gas firms, with an initial £8.3bn capitalisation over the course of a parliament.

Read more about the general election:
Analysis: Panic will spread through Tory ranks after poll
Who will win the election? Check our poll tracker

Labour has launched its GB Energy policy – do we need it?
What could possibly go wrong? A history of TV debates

Please use Chrome browser for a more accessible video player

Who loses most from Farage move?

Meanwhile, the Conservatives will propose an annual cap on worker and family visas in their efforts to ensure immigration figures fall year on year if they are still in government after the election.

More than 10,000 migrants have arrived in the UK so far this year after crossing the Channel and immigration has become a key campaign battleground.

The proposed plan would give parliament a direct role in setting levels of migration, with MPs having a vote on the number.

Please use Chrome browser for a more accessible video player

Grant Shapps calls Sam Coates live on TV

Mr Sunak will say: “We have taken bold action to cut the number of people coming to this country. The plan is working but migration levels are still too high, so we are going further.

“Labour’s migrant amnesty will make the UK a global magnet for illegal immigrants and they have no plan to reduce net migration, while we have a clear plan to stop the boats and put a legal cap on numbers.

“The Conservatives are the only party that is willing take the bold action needed to cut immigration figures.”

The annual cap would be imposed on the number of visas that can be granted to those coming to the UK on work or family routes.

Temporary work routes, such as seasonal agricultural workers, would not fall within the cap.

Click to subscribe to the Sky News Daily wherever you get your podcasts

Meanwhile, the Liberal Democrats are promising action on an issue described as “deeply personal” for party leader Sir Ed Davey, as they say day-to-day care for adults in need, including the elderly and disabled, would be free.

Provision of care should be based on need rather than ability to pay, the party said, as it promised what it described as free personal care for people either at home or in care homes.

This would cover nursing care, help with mobility, hygiene and medication, it said, adding that people in residential care would still have to contribute towards their accommodation.

Follow Sky News on WhatsApp
Follow Sky News on WhatsApp

Keep up with all the latest news from the UK and around the world by following Sky News

Tap here

Sir Ed said: “As a carer for my disabled son, and after caring for my ill mother when I was young, care is deeply personal for me.

“That is why I am putting fixing the care crisis at the heart of the Liberal Democrat offer to the country at this election.”

The party said its plan for England – based on the model introduced by the Lib Dems in government in Scotland in 2002 – would cost £2.7bn a year by 2028-29 and would be “fully funded” by reversing tax cuts for the big banks since 2016.

Continue Reading

Politics

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

Published

on

By

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.”

Politics latest: PM outlines ‘benefits’ for UK from closer EU ties

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.

Read more:
What could a UK-EU reset look like?
Starmer’s stance on immigration criticised

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.

Please use Chrome browser for a more accessible video player

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.

👉 Click here to follow Electoral Dysfunction wherever you get your podcasts 👈

‘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.

Continue Reading

Politics

Retired artist loses $2M in crypto to Coinbase impersonator

Published

on

By

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.

Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

Continue Reading

Politics

UK to require crypto firms to report every customer transaction

Published

on

By

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

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Continue Reading

Trending