Starmer says he meant no offence to Bangladeshi community over deportation comments

Published

9 months ago

June 27, 2024

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Sir Keir Starmer has said he did not intend to cause offence to the Bangladeshi community after he singled out the country during a debate about immigration.

The Labour leader said Bangladeshis have made a “massive contribution” to the UK economy – after his comments sparked such a backlash that one Labour councillor in London resigned.

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Speaking specifically about people who come to the UK illegally, Sir Keir said during a debate hosted by The Sun newspaper: “So on the first few days in government, I’ll tell you what I’ll do, I’ll put the staff back in the returns unit, I’ll make sure we’ve got planes going off, not to Rwanda, because that’s an expensive gimmick.”

He then singled out the example of Bangladesh when asked where migrants could be returned to under Labour’s plan.

“The number of people being returned to where they came from, has dropped off by 44% under this government,” Sir Keir said.

“At the moment people coming from countries like Bangladesh are not being removed because they are not being processed.”

The comments were criticised by members of the Bangladeshi community, as well as Labour Party members.

Stepney Green Councillor Sabina Akhtar, deputy leader of Tower Hamlets Labour group, resigned from the party saying Sir Keir had insulted “my Bangladeshi identity”.

Labour election candidate Apsama Begum, who is the daughter of Bangladeshi migrants, said she “will never stand by and let migrant communities be scapegoated”.

Defending the comments on Thursday, Sir Keir said he was trying to give an example of a safe country where a returns agreement is in place – but people aren’t being sent back because their asylum claims are not being processed.

He told broadcasters: “The reference in the debate the other day was an example of a country that is considered safe as far as asylum is concerned, and one of the countries that’s actually got a returns agreement with us, and that is actually a good thing where both we and Bangladesh can be proud of.

“I certainly wasn’t intending to cause any concern or offence to any Bangladeshi community here.”

He said he values the relationship and the contribution of the Bangladeshi community in Britain, adding: “They’ve made a massive contribution to our economy, to our culture and to our country. That’s why there’s always been a longstanding and strong relationship between Labour and the Bangladeshi community here.

“It’s why my first trip as a Labour MP was to Bangladesh, where I saw for myself the strength of the country, the hospitality and warmth of the country. I’ve got many Bangladeshi constituents in my own constituency who I’ve been working with for many years, and I want to build on that in government.”

Immigration has been a wedge issue on the election campaign, with Rishi Sunak insisting his stalled Rwanda plan will get off the ground eventually but Labour saying it is an “unworkable gimmick” and they will scrap it.

The party wants to divert £75m to a new “border command” force that will focus on “smashing criminal gangs”, and hire 1,000 more caseworkers to create a “Returns and Enforcement Unit” to address the fall in asylum removals since 2010.

Asked by reporters today if that plan would also mean accepting people who come via illegal routes, Sir Keir said: “When people have no right to be here, they will be removed. Where a claim succeeds obviously that is an asylum claim that has succeeded.

“But at the moment there is a 100% success (rate) in the sense that anyone who is here under this government is staying here for life, being paid for by the taxpayer.

“That is not a sustainable or sensible asylum policy. It is an asylum policy that is utterly broken under this government.”

Politics

Crypto stocks down, IPOs punted amid tariff tumult

Published

5 hours ago

April 4, 2025

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Crypto stocks down, IPOs punted amid tariff tumult

Cryptocurrency firms felt the heat from US President Donald Trump’s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO) plans.

From exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not more, than shares of other companies — despite the industry’s warm relationship with the US president.

On April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional “reciprocal” tariffs on some 57 countries.

Since then, major US stock indices — including the S&P 500 and Nasdaq — tumbled by roughly 10% as traders braced for a looming trade war.

Sharp selloffs

Crypto exchange Coinbase — a prominent ally of Trump during the November US elections — experienced a similarly severe sell-off, with its stock price dropping by roughly 12% during the same period, according to data from Google Finance.

Bitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) — which tracks a diverse basket of Bitcoin mining stocks — has lost roughly 13% of its value since immediately prior to Trump’s April 2 announcement, according to data from Morningstar.

Even Strategy, one of the best-performing stocks of 2024, wasn’t immune. Its share price has fallen by around 6% on the news, Google Finance data showed.

According to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously.

“Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,” JP Morgan reportedly said.

“The effect … is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.”

IPO delays

The impact of US tariffs hasn’t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing market turbulence.

According to The Wall Street Journal, Circle is “waiting anxiously” before taking further steps after filing to take the company public on April 1.

It is among several companies — including fintech Klarna and ticketing service StubHub — reportedly considering altering or shelving IPO plans.

One exception may be Bitcoin itself, which some analysts say is finally “decoupling” from the broader market.

Bitcoin’s spot price has held above $82,000 this week, even as US equities markets collapsed.

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Politics

Brazilian court authorizes crypto seizure for debt collection — Report

Published

5 hours ago

April 4, 2025

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Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian judges have been authorized to seize cryptocurrency assets from debtors who owe money and are behind on their payments, signaling a growing recognition that digital assets can be both a form of payment and a store of value.

According to local media reports, the Third Panel of Brazil’s Superior Court of Justice unanimously authorized judges to send letters to cryptocurrency brokers informing them about their intent to seize an account holder’s assets to repay creditors.

The report was confirmed by the Superior Court of Justice, which issued a notice on its website.

The decision was reached unanimously by the Third Panel, which reviewed a case brought forward by a creditor.

“Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value,” a translated version of the Superior Court of Justice’s memo read.

Under existing rules, Brazilian judges are allowed to freeze bank accounts and order fund withdrawals, even without a debtor’s knowledge, should they rule that a creditor is owed money.

Following the recent decision, crypto assets now fall under the same purview.

Minister Ricardo Villas Bôas Cueva, who voted in the five-person panel, said cryptocurrencies still lack formal regulation in Brazil but noted certain bills have recognized the asset class as “a digital representation of value.”

Despite regulatory uncertainty, Brazil is a major hub for crypto

Although Brazil still lacks an overarching framework for digital assets, with the country’s central bank divvying up the regulatory processes into phases, crypto adoption is surging across the country.

Brazil ranks second among all Latin American countries in terms of “crypto value received,” which is a key benchmark for adoption, according to an October report by Chainalysis.

Earlier this year, crypto exchange Binance was granted approval to operate in the country after it acquired a São Paulo-based investment company.

A Binance executive told Cointelegraph at the time that Brazil was making “significant strides” in regulating the industry and expects a comprehensive framework to be finalized “by mid-year.”

Nevertheless, not all of Brazil’s regulatory proposals have been favorable for the industry.

In December, the country’s central bank proposed banning stablecoin transactions on self-custodial wallets at a time when more locals were using dollar-pegged tokens to hedge against the devaluation of the Brazilian real.

Industry observers told Cointelegraph at the time that such a ban would be difficult to enforce.

“Governments can regulate centralized exchanges, but P2P transactions and decentralized platforms are much harder to control, which means the ban would likely only affect part of the ecosystem,” said Lucien Bourdon, an analyst with Trezor.

Politics

‘Will the PM side with parents or tech bros?’: Labour peer demands action on children’s smartphone safety

Published

6 hours ago

April 4, 2025

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'Will the PM side with parents or tech bros?': Labour peer demands action on children's smartphone safety

Sir Keir Starmer needs to choose between parents who want stronger action to tackle harmful content on children’s phones, or the “tech bros” who are resisting changes to their platforms, Baroness Harriet Harman has said.

Speaking to Beth Rigby on Sky News’ Electoral Dysfunction podcast, the Labour peer noted that the prime minister met with the creators of hit Netflix drama Adolescence to discuss safety on social media, but she questioned if he is going to take action to “stop the tech companies allowing this sort of stuff” on their platforms where children can access it.

Sir Keir hosted a roundtable on Monday with Adolescence co-writer Jack Thorne and producer Jo Johnson to discuss issues raised in the series, which centres on a 13-year-old boy arrested for the murder of a young girl, and the rise of incel culture.

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The aim was to discuss how to prevent young boys being dragged into a “whirlpool of hatred and misogyny”, and the prime minister said the four-part series raises questions about how to keep young people safe from technology.

Sir Keir has backed calls for the four-part drama to be shown in all schools across the country, but Baroness Harman questioned what is going to be achieved by having young people simply watch the show.

“Two questions were raised [for me],” she said. ” Firstly – after they’ve watched it, what is going to be the discussion afterwards?

“And secondly, is he going to act to stop the tech companies allowing this sort of stuff to go online into smartphones without protection of children?

“Because if the tech companies wanted to do this, they could actually protect children. They can do everything they want with their tech.”

She acknowledged there are “very big public policy challenges” in this area, but added of the prime minister: “Is he going to side with parents who are terrified and want this content off their children’s phones, or is he going to accept the tech bros’ resistance to having to make changes?”

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Can parliament keep up?

The Labour peer backed the Conservative Party’s call for a ban on smartphones in schools to be mandated from Westminster, saying it would “enable all schools not to have a discussion with their parents or to battle it out, but just to say, this is the ruling” from central government, which Ofsted would then enforce.

“I’m sensitive to the idea that we shouldn’t constantly be telling schools what to do,” she continued. “And they’ve got a lot of common sense and a lot of professional experience, and they should have as much autonomy as possible.

“But perhaps it’s easier for them if it’s done top down.”

Baroness Harman also questioned the speed with which parliament is actually able to legislate to deal with the very rapid development of new technologies, and posits that it could “change its processes to be able to legislate in real time”.

She suggested that a “powerful select committee” of MPs could be established to do that, because “otherwise we talk about it, and then we’re not able to legislate for 10 years – by which time that problem has really set in, and we’ve got a whole load more problems”.

On the podcast, the trio also discussed the 10% tariffs imposed on the UK by Donald Trump and the government’s efforts to strike a trade deal with the US to mitigate the impact of the levy.

The government has refused to rule out scrapping the Digital Services Tax, a 2% levy on tech giants’ revenues in the UK, as part of the negotiations with the Trump administration – a move Baroness Harman said would be “very heartbreaking”.

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