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Sir Keir Starmer has accused the Tories of using Brexit to deliberately run an “open borders experiment” in the UK.

The prime minister said the British people are “owed an explanation” after revised figures showed net migration reached a record high of almost one million under the previous government’s watch.

Follow live: Spending on asylum jumps to record high

Data from the Office for National Statistics (ONS) shows net migration for the year to June 2023 reached 906,000 – a big jump on what was previously thought and four times higher than pre-Brexit figures in 2019.

In a speech from Downing Street, Sir Keir said: “Failure on this scale isn’t just bad luck. It isn’t a global trend or taking your eye off the ball.

“No, this is a different order of failure. This happened by design, not accident.

“Policies were formed deliberately to liberalise immigration. Brexit was used for that purpose – to turn Britain into a one nation experiment in open borders.”

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Starmer quizzed over net migration

The ONS’s previous estimate for the year to 2023 was 740,000, which at the time was still a record amount.

The stats show net migration – the difference between people coming to live in and leaving the UK – is down 20% this year from the revised high of 2023, standing at an estimated 728,000.

Tory leader Kemi Badenoch yesterday admitted her party, which made repeated pledges to cut net migration by tens of thousands during their 14 years in office, had got immigration “wrong”.

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Badenoch asked about illegal immigration

But Sir Keir said their failures were “unforgivable” and can’t be separated from the Conservative Party’s “refusal to do the hard yards on skills, on welfare reform, on giving our young people opportunities”.

“Clearly the vast majority of people who entered this country did so to plug gaps in our workforce,” he added.

In his press conference, Sir Keir said Labour would reform the points-based immigration system to require companies that are heavily reliant on foreign workers to also train British people.

This will go alongside a crackdown on abuse of the visa system, including banning employers who flout the rules from hiring overseas staff for two years.

‘Landmark’ deal struck with Iraq

Sir Keir’s speech came as Home Secretary Yvette Cooper announced a “landmark” deal with Iraq, intended to crack down on the people smuggling fuelling illegal immigration.

Iraq is one of the top 10 countries people travelling in small boats come from (3,002 in the year to June). Around £300k of UK government money will be given to the country to help it with border security and law enforcement.

Home Secretary Yvette Cooper and Iraq's Minister of Interior Abdul Amir Al-Shimmari shake hands after signing a Joint Statement on Border Security following a meeting at the Ministry of Interior of Iraq, in Baghdad, during an official three-day visit to Iraq. Picture date: Tuesday November 26, 2024.
Image:
Home Secretary Yvette Cooper and Iraq’s Minister of Interior Abdul Amir Al-Shimmari shake hands after signing a Joint Statement on Border Security. Pic: PA

Home Office data released on Thursday also showed the cost of the UK’s asylum system has risen to £5bn, the highest level of spending on record, and up by more than a third in a year.

On Wednesday, Tory leader Ms Badenoch said there had been a “collective failure of political leaders from all parties over decades” to grasp migration, adding: “On behalf of the Conservative Party, it is right that I as the new leader accept responsibility and say truthfully, we got this wrong.”

Other Conservatives, including former home secretary Suella Braverman, sought to take credit for the numbers coming down in the year to July 2024, which the ONS said was driven mainly by a fall in the number of dependants arriving in the UK on study visas from outside the EU.

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Indonesia lists 29 licensed crypto platforms as global exchanges explore market

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Indonesia lists 29 licensed crypto platforms as global exchanges explore market

Indonesia’s Financial Services Authority (OJK) has published a whitelist of 29 licensed crypto platforms, officially spelling out which exchanges are legally allowed to operate in the country. 

The list, which includes names of entities and their apps or platforms, is meant to serve as an official reference for users to verify whether a provider is properly licensed before trading. 

OJK has urged the public to transact only with entities on the list and to treat unlisted platforms as unlicensed operators.

Indonesia, Cryptocurrency Exchange
South Korea’s largest exchange, Upbit, is included among licensed exchanges. Source: OJK

​Global crypto players eyeing Indonesia

The clarification of who can legally offer crypto services lands as global players move to lock in Indonesian footholds.

Robinhood signed deals earlier this month to acquire Indonesian brokerage Buana Capital and licensed digital asset trader PT Pedagang Aset Kripto, a move that gives it entry to a market with more than 19 million capital‑market investors and about 17 million crypto traders.

Related: Indonesia’s digital rupiah CBDC to get ‘stablecoin’ companion backed by government bonds

Hong Kong–based OSL Group completed its acquisition of licensed local exchange Koinsayang in September, securing regulatory approval to offer spot and derivatives trading.

Related: Survey finds 6 in 10 of Asia’s rich plan to ramp up crypto buying

Tightening oversight of digital assets

The whitelist follows OJK Regulation No. 23/2025, which tightens oversight of digital financial assets, including crypto and related derivatives. The rule bars exchanges from facilitating trades in assets that are not registered or approved by a licensed digital asset exchange, and it introduces a framework for digital asset derivatives that requires prior OJK approval at the exchange level. 

Platforms must implement margin mechanisms via segregated funds or digital assets, and consumers have to pass a knowledge test before accessing derivatives. These are measures the regulator said were designed to align with international supervisory standards and strengthen investor protection.

Related: Ripple’s big Singapore win: What the expanded license allows now

Among fastest-growing markets worldwide

Indonesia’s tightening grip on licensing comes as the country cements its place as a major crypto market. Robinhood and industry data providers describe Indonesia as one of Southeast Asia’s fastest‑growing crypto economies, with tens of millions of investors across capital markets and digital assets. 

Chainalysis’ 2025 Global Crypto Adoption Index places Indonesia in the global top 10 for crypto adoption and notes that the country has been among the most dynamic markets worldwide, highlighting its growing presence in global digital asset activity.