A motion calling for Labour to reverse its cut to the winter fuel allowance has been backed by party conference members, in an embarrassing blow to Sir Keir Starmer.
The motion was put forward by the trade union Unite, which has accused the government of embarking on “austerity mark two”.
Sharon Graham, the general secretary of Unite and outspoken critic of Sir Keir, moved the proposal by quoting Labour’s election winning post-war manifesto, which she said was “one of hope”.
She said: “The nation wants food, work and homes… It wants a high and rising standard of living, security for all, against a rainy day…”
“Friends, that’s a quote from the 1945 Labour Manifesto, written in the shadow of death, destruction and debt, caused by years of war. A manifesto of hope.”
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Ms Graham said debt then was “nearly three times higher than it is now” but there was “no mention of cuts, no mention of austerity and certainly no mention of making everyday people pay”.
She added: “I do not understand how our new Labour government can cut the winter fuel allowance for pensioners and leave the super-rich untouched.
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“This is not what people voted for. It is the wrong decision and needs to be reversed.”
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12:03
Winter fuel allowance cut ‘cruel’
The motion passed by a show of hands on what is the last day of the Labour Party conference in Liverpool.
The annual event is the first one in 15 years with Labour now in government, but has been somewhat overshadowed by a row over donations and freebies,as well as the controversy over the benefit cut.
The change means only elderly people in receipt of pension credit will receive help with their fuel bills over winter, whereas previously it was universal.
Labour ‘done more to protect pensioners than 14 years of Tories’
Ahead of the vote, pensions secretary Liz Kendall defended the cut, claiming “this Labour government has done more to help the poorest pensioners in the last two months than the Tories did in 14 years”.
Image: Sir Keir Starmer. Pic: Reuters
She said that included “the biggest ever drive to increase Pension Credit uptake, backed by our commitment to the pensions triple lock”.
She added: “This will increase the state pension by an estimated 1,700 pounds this parliament with an extra six billion pounds of funding forecast next year. With an extra £6 billion of funding forecast next year.
“This is the difference a Labour government makes. “
No U-turn on policy
Ministers have made clear the policy won’t be changed, with Chancellor Rachel Reeves telling a fringe event on Tuesday that parliament has already voted on restricting winter fuel payments and “there was overwhelming support” for it.
The vote passed in the House of Commons earlier this month after a Tory motion to block the cut failed.
Only one Labour MP, Jon Trickett, voted against the government on what he said would be a matter of “life and death” for his constituents, though over 50 Labour MPs abstained.
Opposition MPs have used the Unite motion to ramp up attacks on Sir Keir over the policy.
SNP Westminster Leader Stephen Flynn said the prime minister “must finally listen to voters, admit he got it wrong, and U-turn on the Labour government’s damaging cuts to the Winter Fuel Payment for millions of pensioners”.
But a Labour spokesperson made clear that won’t happen, saying: “The Tories wrecked our economy and left a £22 billion black hole in the public finances. They made commitments they couldn’t pay for, covered it up and ran away.
“The Labour Party was elected on our manifesto commitment to sound fiscal rules, economic growth is our primary mission and we will take the tough decisions now to rebuild Britain and make every part of the country better off.”
Securities exchange Cboe BZX is seeking permission from US regulators to incorporate staking into Fidelity’s Ether exchange-traded fund (ETF), according to a March 11 filing.
The filing marks Cboe’s latest attempt to support staking for the Ether (ETH) funds traded on its US exchange.
Cboe’s proposed rule change would allow Fidelity Ethereum Fund (FETH) to “stake, or cause to be staked, all or a portion of the Trust’s ether through one or more trusted staking providers,” the filing said.
The Fidelity Ethereum Fund is among the most popular Ether ETFs, with nearly $1 billion in assets under management, according to data from VettaFi.
In February, Cboe asked permission to add staking to another Ether ETF, the 21Shares Core Ethereum ETF.
Staking Ether enhances returns and involves posting ETH as collateral with a validator in exchange for rewards.
As of March 11, staking Ether yields approximately 3.3% APR, denominated in ETH, according to Staking Rewards.
Other popular cryptocurrencies, including Solana (SOL), also feature staking mechanisms.
The US Securities and Exchange Commission must still approve Cboe’s proposed rule changes before staking can commence.
In February, the SEC acknowledged more than a dozen exchange filings related to cryptocurrency ETFs, according to records.
The SEC’s acknowledgments highlight how the agency has softened its stance on crypto since US President Donald Trump started his second term on Jan. 20.
In addition to staking, the filings, submitted by Cboe and other exchanges, addressed proposed rule changes concerning options, in-kind redemptions and new types of altcoin funds.
Cboe has also asked permission to list Canary and WisdomTree’s proposed XRP (XRP) ETFs and support in-kind creations and redemptions for Fidelity’s Bitcoin (BTC) and ETH ETFs, among other proposed changes.
A member of the Texas legislature has proposed a bill that could limit the amount local and state authorities invest in cryptocurrency as a reserve asset.
In a bill filed on March 10, Texas Representative Ron Reynolds proposed the state’s comptroller not be allowed to invest more than $250 million of its Economic Stabilization Fund — otherwise known as a “rainy day” fund — in Bitcoin (BTC) or other cryptocurrencies. The legislation also suggested that Texas municipalities or counties could not invest more than $10 million in crypto.
HB 4258, filed by Texas Representative Ron Reynolds. Source: Texas legislature
The proposed bill followed the Texas Senate passing legislation on March 6 to establish a strategic Bitcoin reserve in the state. The SB 21 bill seemingly could allow the Texas comptroller to have no limit on purchasing BTC for a reserve, based on the most recent draft.
The plan for a strategic Bitcoin reserve in Texas was one of many separate bills proposed in US state governments following the inauguration of President Donald Trump and Republican lawmakers winning control of the US House of Representatives and Senate. Texas Lieutenant Governor Dan Patrick said in January that the state’s legislative priorities for 2025 would include a proposal to establish a Texas Bitcoin Reserve.
Is there a partisan divide on state and federal crypto plans?
It’s unclear if Rep. Reynolds, a Democrat, intended to support the BTC reserve bill introduced by State Senator Charles Schwertner, a Republican, or propose restrictions in the event the legislation becomes law. If passed and signed by Governor Greg Abbott, the bill would take effect on Sept. 1. Cointelegraph reached out to Rep. Reynolds’ office for comment but did not receive a response at the time of publication.
Though Trump signed an executive order on March 7 to create a federal “Strategic Bitcoin Reserve” and “Digital Asset Stockpile,” many legal experts have questioned the US president’s authority to enact specific policies through EOs. Wyoming Senator Cynthia Lummis reintroduced legislation on March 11 to codify the proposed BTC reserve into law in the Senate.
Ousted Reform UK MP Rupert Lowe has told Sky News he has not ruled out joining the Conservatives or a new political party, declaring: “I’m keeping my options open.”
Mr Lowe answered a series of questions from Sky News after the latest twist in his feud with Nigel Farage, with a police investigation launched into claims he threatened party chairman Zia Yusuf.
Responding to the police statement, Mr Lowe said he had instructed lawyers, who had made contact with the Met and made them aware of his willingness to co-operate in any necessary investigation.
“My lawyers have not yet received any contact from the police,” he said.
“It is highly unusual for the police to disclose anything to the media at this stage of an investigation.
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“I remain unaware of the specific allegations, but in any event, I deny any wrongdoing. The allegations are entirely untrue.”
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1:25
Reform UK row explained
Could Lowe join Tories?
Later, Sky News asked the Great Yarmouth MP if he thought there was a way back into Reform UK for him or was this the end – and if he might join the Tories or a new political party.
“This has all happened over a few days,” Mr Lowe replied.
“I have been focused on debunking these false and damaging allegations. Who knows what will happen? I’m keeping my options open.”
In an interview on Monday, Mr Lowe said: “I was a Tory years ago. I think the Tories have got a lot of work to do. I think there’s some extremely good Tory MPs. I get on with a lot of them.”
For the Conservatives, the shadow home secretary Chris Philp said: “He hasn’t applied but obviously we’re a broad and welcoming political party.”
He told Times Radio: “People have been joining the Conservatives from across the political spectrum and we always welcome new joiners.”
Image: Mr Lowe is a former chair of Southampton Football Club. File pic: PA
New splinter group?
And in a move seen as a hint of a new splinter group, another ousted Reform UK politician, former deputy leader Ben Habib, told The Daily Telegraph that Mr Lowe was a “good friend” and he was “constantly in touch with” him.
Sky News also asked Mr Lowe who he blamed for the party’s treatment of him, including throwing him out of the party after he criticised Mr Farage. Was Mr Farage or Mr Yusuf to blame?
“Honestly, all of them,” he said.
“This was a team effort to blacken my name. If it wasn’t for my presence on X, I would have been buried under the false allegations. For that, I have to thank Elon Musk.”
He was asked about Mr Farage quoting Labour minister Mike Kane claiming after a heated Commons clash with Mr Lowe in December: “The anger displayed towards me clearly showed a man not in charge of his own faculties.”
Image: Shadow home secretary Chris Philp said the door was open. Pic: Reuters
In a Sunday Telegraph article, Mr Farage added: “I never saw anything like it in the European Parliament in 2019 when I was the leader of the Brexit Party and Mr Lowe was an MEP colleague.”
In response, Mr Lowe told Sky News: “Reform sources have been briefing that I have dementia. This is the single most appalling thing I have ever seen in politics.
“Anyone who has known someone who has suffered so hideously from dementia will understand just how offensive it is. It shows the type of people we are dealing with.”
In the same article, Mr Farage claimed there had been “too many similar outbursts from Mr Lowe, often involving the use of inappropriate language to the despair of our chief whip, Lee Anderson”.
Mr Lowe hit back, telling Sky News: “More baseless nonsense, spouted out to tarnish my reputation. Their malicious witch-hunt has fallen apart.”
Last year, when Mr Anderson was Conservative Party deputy chairman, he apologised after parliament’s watchdog on bullying and harassment found he told a security guard to “f*** off, everyone opens the door to me”.
He was found to have twice sworn at the security officer and acted in a way that “constituted bullying and also harassment” in breach of parliament’s behaviour policy, an independent expert panel concluded.