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The Tories “squandered a golden inheritance” on the NHS, the health secretary has said – as he laid out three “fundamental shifts” to fix it.

Wes Streeting told Sky News Tony Blair’s Labour government left the health service with the lowest waiting times and highest patient satisfaction “in the history of the NHS”.

“What’s criminal is that in the last 14 years, the Conservatives took that golden inheritance and squandered it. And they don’t bear any responsibility,” he said.

Politics live: PM to pledge ‘biggest reimagining of NHS’ in major speech

Mr Streeting was speaking after an independent report he commissioned found the NHS is in a “critical condition”, with record waiting lists and too much of its budget spent in hospitals.

Off the back of the investigation, Prime Minister Sir Keir Starmer will give a speech today in which he will warn the health service must “reform or die” and set out a 10-year plan to fix it.

Giving a flavour of what that could look like, Mr Streeting said the NHS needed three “fundamental” changes.

That includes a “shift from hospital to community”, so people are diagnosed earlier and faster; greater investment in technology to create a “digital NHS”; and dealing with sickness in society.

He said: “That’s why today’s report was so important, because, ironically, although it’s looking back on how we got here and diagnosing the illness, it’s actually helping us to look forward and be honest about how we got here.”

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The PM will give a speech on NHS reform later today. Pic: PA

The study, carried out by peer and surgeon Lord Darzi, argues the NHS is facing rising demand for care as people live longer in ill health, coupled with low productivity in hospitals and poor staff morale.

It criticises political decision-making under the Conservatives and the coalition government, including the impact of austerity, a “starvation of investment” and the reorganisation of the NHS under the 2012 Health and Social Care Act, which Lord Darzi called “a calamity without international precedent”.

This meant the COVID pandemic came “when resilience was at an all time low”, he said.

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Mr Streeting likened the findings to the Conservatives “not just failing to fix the roof while the sun was shining, but effectively pouring petrol on the house, turning the gas on”.

“And then the pandemic lit the match,” he added.

Asked how a report of such magnitude can be compiled in nine weeks, Mr Streeting said Lord Darzi spoke to frontline staff, leaders and thinktanks and was also given “unfettered access” to NHS and Department of Health data.

In other morning interviews, he warned the NHS would “go bust” if it was not reformed, but ruled out raising money through a salt or sugar tax.

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Shadow health secretary Victoria Atkins told Sky News she had “never shied away” from the NHS’s problems during her time in office, when asked if she was embarrassed about the state her party left it in.

She accused Labour of “trying to get headlines” by trailing out the report, calling instead for a “proper conversation about what we do with the NHS”.

Victoria Atkins
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Shadow health secretary Victoria Atkins hit back over Labour’s report

Lord Darzi, a former Labour health minister turned independent peer, ultimately argued the NHS can be fixed, saying his findings do not question “the principles of a health service that is taxpayer-funded, free at the point of use”.

Later this morning, the prime minster will set out his plans for the “the biggest reimagining of our NHS since its birth”.

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He will say this won’t be “easy or quick” but “sticking plaster solutions” won’t do.

He will say: “Working people can’t afford to pay more, so it’s reform or die.”

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KuCoin’s settlement with CFTC in flux after Trump policy shift

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KuCoin’s settlement with CFTC in flux after Trump policy shift

KuCoin’s settlement with CFTC in flux after Trump policy shift

A planned settlement between the US Commodity Futures Trading Commission and crypto exchange KuCoin will likely be delayed after a policy shift at the CFTC to deprioritize cases against crypto companies under the Trump administration.

CFTC attorney John Murphy submitted a letter on April 21 to District Judge Valerie Caproni, asking for more time to secure approval for a deal negotiated under the Biden administration, reported Law360.

“It appears unlikely that such authorization will be granted in the near term,” he said, referencing a recent statement by acting CFTC Chair Caroline Pham that the agency’s enforcement division was to deprioritize cases against crypto companies.

The CFTC charged KuCoin with “multiple violations of the Commodity Exchange Act (CEA) and CFTC regulations” in March 2024.

According to the Justice Department, which also filed charges against KuCoin and two founders for violating Anti-Money Laundering laws, the exchange received more than $5 billion and sent more than $4 billion in “suspicious and criminal funds.” 

KuCoin, trading under Mek Global Limited, reached a $297 million settlement with the Department of Justice in January and agreed to exit the US market for at least two years. 

In December, the CFTC and KuCoin informed the court that they reached an agreement in principle to settle the case, however terms and details of the proposed deal were not disclosed. 

In March, KuCoin asked the judge for a 14-day stay to address further negotiations in line with President Trump’s executive order curtailing enforcement actions against the digital asset industry. However, this request was denied, with the judge pressing for negotiation status updates. 

No majority at CFTC

When Pham announced in February that the Commission would wind down its practice of regulation by enforcement, she also noted that terminating active cases would be more difficult to deal with.

The CFTC needs a majority to dismiss a case or authorize its settlement, and there is currently no majority, with two members from each party sitting on its governing body.

This could change if the Senate confirms the appointment of Trump nominee Brian Quintenz to lead the financial regulator.

Both parties have requested an additional 60 days or until the Commission provides “definitive direction” on the matter. 

Related: US regulators FDIC and CFTC ease crypto restrictions for banks, derivatives

On April 21, the CFTC’s Divisions of Market Oversight issued a request for comment to better inform them on the potential uses, benefits, and risks of perpetual contracts in derivatives markets.

“Innovation and new technology have created a renaissance in markets that presents new opportunities that are accessible to more people, as well as risks,” said Pham. 

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest

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Rachel Reeves to head to Washington amid hopes of US trade deal

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Rachel Reeves to head to Washington amid hopes of US trade deal

Rachel Reeves will pledge to “stand up for Britain’s national interest” as she heads to Washington DC amid hopes of a UK/US trade deal.

The chancellor will fly to the US capital for her spring meetings of the International Monetary Fund (IMF), the first of which began on Sunday.

During her three-day visit, Ms Reeves is set to hold meetings with G7, G20 and IMF counterparts about the changing global economy and is expected to make the case for open trade.

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Her visit comes after Donald Trump imposed blanket 10% tariffs on all imports into the US, including from the UK, and as talks about reaching a trade deal intensified.

The chancellor will also hold her first in-person meeting with her US counterpart, treasury secretary Scott Bessent, about striking a new trade agreement, which the UK hopes will take the sting out of Mr Trump’s tariffs.

In addition to the 10% levy on all goods imported to America from the UK, Mr Trump enacted a 25% levy on car imports.

Ms Reeves will also be hoping to encourage fellow European finance ministers to increase their defence spending and discuss the best ways to support Ukraine in its war against Russia.

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Speaking ahead of her visit, Ms Reeves said: “The world has changed, and we are in a new era of global trade. I am in no doubt that the imposition of tariffs will have a profound impact on the global economy and the economy at home.

“This changing world is unsettling for families who are worried about the cost of living and businesses concerned about what tariffs will mean for them. But our task as a government is not to be knocked off course or to take rash action which risks undermining people’s security.

“Instead, we must rise to meet the moment and I will always act to defend British interests as part of our plan for change.

“We need a world economy that provides stability and fairness for businesses wanting to invest and trade, more trade and global partnerships between nations with shared interests, and security for working people who want to get on with their lives.”

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Starmer and Zelenskyy discuss ending Russia’s ‘brutal war’ – as Putin says says he is open to bilateral talks on longer ceasefire

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Starmer and Zelenskyy discuss ending Russia's 'brutal war' - as Putin says says he is open to bilateral talks on longer ceasefire

Sir Keir Starmer and Volodymyr Zelenskyy spoke about ending Russia’s “brutal war” on Ukraine in their latest phone call on Easter Monday, as Vladimir Putin said he was open to bilateral talks.

The prime minister and Ukrainian president spoke on Monday afternoon, when Sir Keir “reiterated his iron-clad support for Ukraine“.

A Downing Street spokesperson added that the prime minister “said that the UK supports Ukraine’s calls for Russia to commit to a full ceasefire and that now is the time for Putin to show he is serious about ending his brutal war”.

“They discussed the latest developments on the Coalition of the Willing, and looked forward to further progress towards a just and lasting peace,” the spokesperson added.

Mr Zelenskyy later said on social media that he had a “good and detailed conversation” with the prime minister, and added Ukrainian officials will be in London for talks on ending the war with Russia on Wednesday.

“We are ready to move forward as constructively as possible, just as we have done before, to achieve an unconditional ceasefire, followed by the establishment of a real and lasting peace,” he added.

The Ukrainian president added that the 30-hour Easter truce, which both Kyiv and Moscow accuse the other of violating, showed that Russia “are prolonging the war”.

It comes as Mr Putin proposed bilateral talks with Ukraine on a longer ceasefire, which would mark the first time Russia held such talks since a failed peace deal soon after the invasion in 2022.

Speaking to a state TV reporter, the Russian president said: “We always have a positive attitude towards a truce, which is why we came up with such an initiative (the Easter truce), especially since we are talking about the bright Easter days.”

When asked about Mr Zelenskyy’s calls to extend the 30-hour ceasefire into a 30-day pause on civilian targets, he added: “This is all a subject for careful study, perhaps even bilaterally. We do not rule this out.”

The Ukrainian president said on Sunday evening that the Russian army had “violated Putin’s ceasefire more than 2,000 times” during the day, and accused Russia of “failing” to “uphold its own promise of a ceasefire”.

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From Saturday: Why Putin offered an Easter truce?

It also comes after Donald Trump has said he hopes Russia and Ukraine “will make a deal this week,” after he and his secretary of state Marco Rubio warned that the US will walk away from efforts to broker a peace deal unless there are clear signs of progress soon.

The US president said on his Truth Social platform that both countries would “start to do big business” with the US after ending the war.

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Last month, Ukraine accepted Mr Trump’s proposal for a 30-day truce, but Mr Putin refused to back a full 30-day ceasefire, saying crucial issues of verification had not been sorted out.

He then said he would agree not to target Ukraine’s energy infrastructure. However, both sides have accused each other of breaking the moratorium on attacks on energy targets and at sea.

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