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Wales’s first minister has lost a confidence vote.

Twenty-nine members of the Senedd voted in favour of the motion of no confidence in Vaughan Gething, while 27 voted against.

Mr Gething has only been first minister since March, but in that time he has faced questions over a controversial £200k donation to his leadership campaign from a man convicted of environmental offences.

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He said the donations had been made in line with party protocols and has refused calls to return the money.

The motion of no confidence was put forward by the Conservatives, the largest opposition group in the Senedd (Welsh parliament).

Despite losing, Mr Gething does not have to step down as the vote is not binding, but it does put further pressure on the embattled leader.

He has made clear in the aftermath of the debate he will not resign as first minister and will continue in post.

Labour leader Sir Keir Starmer has given his backing to the party’s leader in Wales, telling reporters on the campaign trail Mr Gething was doing a “good job”.

Vaughan Gething in the Senedd in Cardiff after he became the new First Minister of Wales
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Vaughan Gething was elected first minister in March

‘Not a gimmick’

Introducing the motion tabled by his party, Welsh Conservative leader Andrew RT Davies said it was “not a gimmick”.

“This was talked of prior to the general election,” he said.

“It is about judgement, honesty and transparency.”

Leader of Plaid Cymru, the pro-independence party, denied the motion was “tribal party politics”.

“We must be different to Westminster, not only in words but in deeds too,” he said.

“Today, we, these benches, are acting in what we firmly believe in the interests of the people of Wales.”

Vaughan Gething speaks during a Welsh Labour general election campaign event in Abergavenny, Wales.
Pic Reuters
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Vaughan Gething. Pic: Reuters

But chair of the Welsh Labour group in the Senedd, Vikki Howells, said the motion was “politics at its worst” and was a “cynical Tory gimmick”.

“With the Tory party tanking in the polls…it’s no wonder that they will do anything, anything at all to try and shift the spotlight from their own record of abject failure,” she said.

One Labour member, Joyce Watson, said the decision to hold the confidence vote on the eve of the D-Day anniversary was “disrespectful” to veterans.

Welsh Lib Dem leader Jane Dodds said she no longer had confidence in the first minister.

But she said she had “never voted in a vote of confidence here in the Senedd” and had in fact voted to confirm Mr Gething as first minister in March.

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‘Mistakes’

Responding to the debate, Wales’s first minister said he has “made and will continue to make mistakes”.

“It does hurt deeply when my intentions are questioned,” Mr Gething added.

“I will not shy away from scrutiny and challenge.”

He reiterated that all rules had been followed.

Speaking after the vote, Mr Gething said it was a “very disappointing afternoon”.

“To go into the Senedd for what is a transparent gimmick in the general election, led by the Welsh Conservatives, to go into a position where the ill-health in two of our members has affected the outcome of the vote,” he said.

“And as I said, on ill-health grounds, we have always paired. That means you even up people from one party to another.

“We did that for more than three months for the leader of the Welsh Conservatives.”

He said he was “proud” to be first minister of Wales.

“To serve and lead my country. That’s what I’ve done today. That’s what I’ll carry on doing,” he added.

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As well as questions over donations, Mr Gething has in recent weeks faced accusations he misled the COVID Inquiry over deleted messages and sacked one of his ministers for allegedly leaking information to the media.

That former minister was one of two Labour members who were absent for the confidence vote.

Neither Hannah Blythyn nor former transport minister Lee Waters voted.

Plaid Cymru then withdrew from a cooperation deal they had with the Labour government in which the party lent its support on dozens of key policy areas.

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Millionaire former Tory donor defects to Reform

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Millionaire former Tory donor defects to Reform

Millionaire Tory donor Malcolm Offord has defected to Reform UK, saying he would be campaigning “tirelessly” to “remove this rotten SNP government”.

Nigel Farage announced the former Conservative life peer’s defection during a rally in the Scottish town of Falkirk, where regular anti-immigration protests have taken place outside the Cladhan Hotel – which is being used to house asylum seekers.

Mr Farage, Reform UK’s leader, said he was “delighted” to welcome Greenock-born Lord Offord to Reform, describing his defection as “a brave and historic act”.

He added: “He will take Reform UK Scotland to a new level.”

During a speech, Lord Offord, who previously donated nearly £150,000 to the Tories, said he would be quitting the Conservative Party and giving up his place in the House of Lords as he prepares to campaign for a seat in Holyrood in May.

The 61-year-old said he wanted to restore Scotland to a “prosperous, happy, healthy country”.

“Scotland needs Reform and Reform is coming to Scotland,” he told the rally.

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“Today I can announce that I am resigning from the Conservative Party. Today I am joining Reform UK and today I announce my intention to stand for Reform in the Holyrood election in May next year.

“And that means that from today, for the next five months, day and night, I shall be campaigning with all of you tirelessly for two objectives.

“The first objective is to remove this rotten SNP government after 18 years, and the second is to present a positive vision for Scotland inside the UK, to restore Scotland to being a prosperous, proud, healthy and happy country.”

The latest defection comes as Mr Farage finds himself at the centre of allegations of racism dating back to his time in school.

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Claims made against Nigel Farage

Sky News reported on Saturday that a former schoolfriend of Mr Farage claimed he sang antisemitic songs to Jewish schoolmates – and had a “big issue with anyone called Patel”.

Jean-Pierre Lihou, 61, was initially friends with the Reform UK leader when he arrived at Dulwich College in the 1970s, at the time when Mr Farage is accused of saying antisemitic and other racist remarks by more than a dozen pupils.

Mr Farage has said he “never directly racially abused anybody” at Dulwich and said there is a “strong political element” to the allegations coming out 49 years later.

Reform’s deputy leader Richard Tice has called the ex-classmates “liars”.

A Reform UK spokesman accused Sky News of “scraping the barrel” and being “desperate to stop us winning the next election”.

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Politics

‘European SEC’ proposal sparks licensing concerns, institutional ambitions

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‘European SEC’ proposal sparks licensing concerns, institutional ambitions

The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.

On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.

Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.

“I am even more concerned that the proposal makes ESMA responsible for both the authorisation and the supervision of CASPs, not only the supervision,” she told Cointelegraph.

The proposal still requires approval from the European Parliament and the Council, which are currently under negotiation. 

If adopted, ESMA’s role in overseeing EU capital markets would more closely resemble the centralized framework of the US Securities and Exchange Commission, a concept first proposed by European Central Bank (ECB) President Christine Lagarde in 2023.

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EU plan to centralize licensing under ESMA creates crypto and fintech slowdown concerns

The proposal to “centralize” this oversight under a single regulatory body seeks to address the differences in national supervisory practices and uneven licensing regimes, but risks slowing down overall crypto industry development, Elisenda Fabrega, general counsel at Brickken asset tokenization platform, told Cointelegraph.

“Without adequate resources, this mandate may become unmanageable, leading to delays or overly cautious assessments that could disproportionately affect smaller or innovative firms.”

“Ultimately, the effectiveness of this reform will depend less on its legal form and more on its institutional execution,” including ESMA’s operational capacity, independence and cooperation “channels” with member states, she said.

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Global stock market value by country. Source: Visual Capitalist

The broader package aims to boost wealth creation for EU citizens by making the bloc’s capital markets more competitive with those of the US.

The US stock market is worth approximately $62 trillion, or 48% of the global equity market, while the EU stock market’s cumulative value sits around $11 trillion, representing 9% of the global share, according to data from Visual Capitalist.

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