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The foreign secretary insists the prime minister is “seeking to comply with the rules” and an investigation into a Labour donor buying clothes for his wife is “not a transparency issue”.

Sir Keir Starmer is facing an investigation over a possible breach of parliamentary rules after failing to declare that some of his wife’s high-end clothes were bought for her by his biggest personal donor, Lord Alli.

The Labour peer paid for a personal shopper, clothes and alterations for Lady Victoria Starmer, reportedly both before and after the Labour leader became prime minister in July, according to The Sunday Times.

Newly elected Prime Minister Sir Keir Starmer, with his wife Victoria Starmer, greet wellwishers as he arrives at his official London residence at No 10 Downing Street for the first time after the Labour party won a landslide victory at the 2024 General Election. Picture date: Friday July 5, 2024.
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Sir Keir Starmer and his wife Victoria Starmer arrive at No 10 Downing Street after Labour’s election victory. Pic: PA

David Lammy defended Sir Keir when he appeared on Sky News’ Sunday Morning With Trevor Phillips.

Asked whether it was a bad look for the prime minister after promising to clean up politics, Mr Lammy said: “This is not a transparency issue. It’s actually the prime minister seeking to comply with the rules.”

Questioned further on whether Sir Keir and his wife needed to have clothes donated to them when the prime minister’s annual salary is around £160,000, Mr Lammy noted there is “no budget” for clothing for our prime minister, while in other countries, such as the US, there is a “substantial budget” so that when appearing on the world stage, they represent their countries well.

He added: “So it is the case that successive leaders of the opposition wanting to represent the country on an international stage, and prime ministers have used donors to fund that budget.”

More on Sir Keir Starmer

The foreign secretary also defended the Labour donor, Lord Alli, who had funded the gifts for Sir Keir and Lady Starmer.

Mr Lammy described him as a self-made millionaire who has been a supporter and a donor to the Labour Party over successive leaders and prime ministers.

Lord Alli in 2014. Pic: Rex
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Lord Alli in 2014. Pic: Rex

This year, Sir Keir has received – and disclosed – nearly £19,000 worth of work clothes and several pairs of glasses from Lord Alli, the former chairman of online fashion retailer Asos, The Times reported.

In addition, the peer, whose personal wealth is estimated at £200m, spent £20,000 on accommodation for the now prime minister during the election and a similar sum on “private office” costs, which was also disclosed, the paper said.

A Number 10 spokesperson told Sky News it was an oversight that had been corrected after it “sought advice from the authorities on coming to office”.

They added: “We believed we’d been compliant, however, following further interrogation this month, we’ve declared further items.”

This story will sting after win based on promises of service and professionalism

The last two prime ministers who walked into 10 Downing Street promised to bring a level of professionalism into politics.

In his first speech, Rishi Sunak said he wanted his government to have “integrity, professionalism and accountability” at every level. Two years later, Sir Keir Starmer said he wanted to restore trust to politics and that “to change Britain, we must change ourselves – we need to clean up politics”.

In fact, Labour’s argument throughout the election was basically that they weren’t the Conservatives. That they would bring public service back into politics – even labelling their government the “government of service”.

Which is why this story must sting so much.

It’s a small indiscretion, not nearly the realms of the chaos of the last administration, and it seems to be more cock up than deliberate, but it does show the perils of setting the standards so high for a government that wants to stand as the contrast to what came before.

It also has the risk of being damaging.

As trust in politicians has stooped to its lowest levels and people feel the levels of service in public life are waning, if a politician promises to be all above board in all respects then the public will expect them to be squeaky clean.

After facing interviews on Sunday morning – in which he said Vladimir Putin could not successfully bully the West over its support for Ukraine – Mr Lammy and Sir Keir watched the north London derby football match between Tottenham and Arsenal together.

The foreign secretary posted on X saying: “The boss’ team won this time against the run of play, but it’s still early in the season.”

The Tories called for a “full investigation” after The Sunday Times report.

A Conservative Party spokesman said: “It’s taken just 10 weeks for Keir Starmer to face an investigation for his conduct.

“After facing allegations of cronyism and now apparent serious breaches of parliamentary rules there must be a full investigation into the passes for glasses scandal.

“No doubt the millions of vulnerable pensioners across the country who face choosing between heating and eating would jump at the chance for free clothes just to keep warm in the face of Labour’s cruel cut.”

Read more from Sky News:
Tax the rich and spare pensioners, Davey says
No assessment carried out on winter fuel payment cut
Starmer talks up US-UK relationship after White House meeting

Sir Keir Starmer and his wife Victoria ont he campaign trail in London. Pic: PA
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Sir Keir Starmer and his wife Victoria campaigning in London. Pic: PA

Lord Alli’s involvement with the Labour leader has already proved controversial after it emerged he had been given a Downing Street security pass without apparently having a government role.

Sir Keir, like all MPs, must declare any of his relevant interests under rules set up to protect politics from improper influence and uphold transparency.

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US senators ask DOJ, Treasury to consider Binance-Trump ties — Report

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US senators ask DOJ, Treasury to consider Binance-Trump ties — Report

US senators ask DOJ, Treasury to consider Binance-Trump ties — Report

A group of Democratic senators has reportedly sent a letter to leadership at the US Department of Justice and the Treasury Department expressing concerns about US President Donald Trump’s ties to cryptocurrency exchange Binance and potential conflicts of interest in regulating the industry.

According to a May 9 Bloomberg report, Democratic senators asked Attorney General Pam Bondi and Treasury Secretary Scott Bessent to report on the steps Binance had taken as part of its November 2023 plea agreement with US authorities, amid reports that Trump and his family had deepened connections with the exchange.

That settlement saw Binance pay more than $4 billion as part of a deal with the Justice Department, Treasury, and Commodity Futures Trading Commission, and had then-CEO Changpeng “CZ” Zhao step down.

However, since Trump won the presidency in 2024, many lawmakers have accused the president of corruption from profiting off crypto while being in a position to influence laws and regulations over the industry.

Trump has launched his own memecoin — which earns the project millions of dollars in transaction fees — and offered the top tokenholders the opportunity to attend an exclusive dinner in Washington, DC. His family-backed crypto venture World Liberty Financial also recently announced that an Abu Dhabi-based investment firm, MGX, would settle a $2 billion investment in Binance using the platform’s USD1 stablecoin.

“Our concerns about Binance’s compliance obligations are even more pressing given recent reports that the company is using the Trump family’s stablecoin to partner with foreign investment companies,” the senators said in the letter, according to Bloomberg.

Related: Trump tricked into pushing XRP for crypto reserve: Report

Stablecoin bill fails to pass the US Senate

The letter came less than 24 hours after some of the same senators blocked a crucial vote on a bill to regulate stablecoins, named the GENIUS Act. Senator Elizabeth Warren, who reportedly signed the letter and opposed moving forward on the stablecoin bill, suggested the Senate should not be aligned with “facilitat[ing] this kind of corruption” from Trump.

Bessent said the Senate “missed an opportunity” by not passing the stablecoin bill, but did not directly address any of the concerns over Trump’s crypto interests. It’s unclear if or when the chamber could consider another vote on the bill.

In an April 23 report, the nonpartisan organization State Democracy Defenders Action said roughly 40% of Trump’s net worth was tied to crypto. The group noted that the GENIUS Act, in its current version, “would not prevent President Trump from using his executive powers to establish a regulatory environment and enforcement agenda that prioritizes his personal enrichment over the broader interests of US stakeholders.”

Amid the concerns with the stablecoin and proposed market structure bills, Zhao reportedly applied for a federal pardon from Trump. Though the former CEO already served four months in prison, a pardon for his felony charge could allow him to get more involved with the crypto industry through a management position.

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

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Chancellor insists Labour rebels ‘know the welfare system needs reform’ as they push for change

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Chancellor insists Labour rebels 'know the welfare system needs reform' as they push for change

Chancellor Rachel Reeves has insisted that rebelling Labour MPs “know the welfare system needs reform” as the government faces a growing backlash over planned cuts.

Sir Keir Starmer is under pressure from Labour MPs, with about 40 in the Red Wall – the party’s traditional heartlands in the north of England – warning the prime minister’s welfare plan is “impossible to support” in its current form.

Dozens have thrown their support behind a letter urging the government to “delay” the proposals, which they blasted as “the biggest attack on the welfare state” since Tory austerity.

Follow live: UK-US trade deal

Ms Reeves on Friday reiterated her plans for reform, insisting that no-one, including Labour MPs and party members, “thinks that the current welfare system created by the Conservative Party is working today”.

She said: “They know that the system needs reform. We do need to reform how the welfare system works if we’re going to grow our economy.”

But, the chancellor added, if the government is going to lift people out of poverty “the focus has got to be on supporting people into work”.

More on Labour

“Of course if you can’t work, the welfare state must always be there for you, and with this government it will be,” she said.

The reforms, announced ahead of Ms Reeves’s spring statement in March, include cuts to Personal Independence Payments (PIP), one of the main types of disability benefit, and a hike in the universal credit standard allowance.

Read more:
UK and US trade deal will save thousands of UK jobs – PM
Starmer faces rebellion from Labour MPs over welfare reforms

The government has claimed that changes to welfare will cut the budget by £4.8bn overall.

Separately, Downing Street refused on Friday to deny that Ms Reeves has consulted on potentially overhauling their winter fuel payment policy.

Labour’s unpopular decision to means-test the policy has taken the benefit away from millions of pensioners.

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

Ministers have faced pressure from their own backbenchers to rethink the policy in the wake of last week’s local election results, which saw Labour lose the Runcorn by-election and control of Doncaster Council to Reform UK.

Asked if the chancellor has discussed the winter fuel payment in private, the prime minister’s spokesperson said they would not give a running commentary.

Pushed again, Number 10 said a “range” of discussions take place in government – which is not a denial.

However, it is worth noting that when reports emerged earlier this week that Downing Street was reviewing the policy, the government strongly pushed back on that suggestion.

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Taiwan lawmaker calls for Bitcoin reserve at national conference

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Taiwan lawmaker calls for Bitcoin reserve at national conference

Taiwan lawmaker calls for Bitcoin reserve at national conference

Taiwanese lawmaker Ko Ju-Chun has called on the government to consider adding Bitcoin to its national reserves, suggesting it could serve as a hedge against global economic uncertainty.

Ko, a legislator at-large in Taiwan’s legislative body, the Legislative Yuan, took to X on Friday to report that he had advocated Bitcoin (BTC) investment by the Taiwanese government at the National Conference on May 9.

In his remarks, Ko cited Bitcoin’s potential to become a hedge amid global economic risks and urged Taiwan to recognize the cryptocurrency alongside gold and foreign exchange reserves to boost its financial resilience.

Taiwan lawmaker calls for Bitcoin reserve at national conference
Source: Ko Ju-Chun

Ko’s announcement came shortly after the legislator held talks with Samson Mow, who advocates for Bitcoin adoption by states like El Salvador at his BTC tech firm Jan3.

Taiwan is an export-oriented economy

Ko highlighted that Taiwan is an export-driven economy that has experienced significant fluctuations in its national currency, the New Taiwan dollar, amid global inflation and intensifying geopolitical risks.

“We currently have a gold reserve of 423 metric tons, and our foreign exchange reserves amount to $577 billion, including investments in US Treasury bonds,” the lawmaker stated.

In a scenario of more intense currency volatility or potential regional conflicts, Taiwan may “very likely be unable to ensure the security and liquidity,” Ko continued, adding that Bitcoin could be a great addition to Taiwan’s reserves for several reasons.

Law, Investments, Taiwan, Samson Mow, Policy, Bitcoin Reserve
Ko Ju-Chun advocated for the adoption of Bitcoin by the Taiwanese government before the Legislative Yuan. Source: Ko Ju-Chun

“Bitcoin has been operating for over 15 years. It has a fixed total supply, is decentralized, and is resistant to censorship. Many countries are focusing on its hedging attributes. At the same time, in intense situations, it may not face the risk of embargo,” he said.

Bitcoin is not the only solution

Referring to many global initiatives considering Bitcoin adoption as a reserve asset, Ko stressed that he’s not advocating for Bitcoin as the “only solution” to rising economic challenges.

Instead, the legislator suggested adding a “small proportion of Bitcoin” into the diversified assets as tools for sovereign asset allocation and risk hedging, and backup capacity of Taiwan’s financial system.

Related: Trump tricked into pushing XRP for crypto reserve: Report

He previously suggested that Taiwan could allocate a maximum of 5% of its $50 billion reserve to Bitcoin in an X post on May 6.

Taiwan lawmaker calls for Bitcoin reserve at national conference
Source: Ko Ju-Chun

“When exchange rate risk and regional uncertainty increase, it is time to introduce new tools to construct a more flexible financial strategy framework,” Ko said, adding:

“As former Dean Chen Chong said, Bitcoin is the gun of the digital era. It may also be the gold of the digital era, the silver of the digital era. Or it could be gunpowder. A wise nation will not let weapons be in others’ hands.”

The news comes as Taiwan is emerging as a crypto-friendly jurisdiction, with the Financial Supervisory Commission pushing institutional trials of crypto custody services in late 2024.

Mainland China continues to maintain its hostile stance on cryptocurrency after imposing a ban on multiple crypto activities, including mining, in 2021.

Magazine: Adam Back says Bitcoin price cycle ’10x bigger’ but will still decisively break above $100K

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