Billed as a “Plan for Change”, which he insisted was not a reset, migration was not on the list of milestones despite Labour previously saying borders and the economy were their two top priorities.
Quizzed on why it was not, Sir Keir told Sky News’ political editor Beth Rigby that migration needs to come down – something he has said before.
Sir Keir said: “It is our duty to do it [bring migration down]. And we will do it.”
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He refused to set a target or timeline.
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Where is immigration in PM’s milestones?
The milestones Sir Keir announced are:
• Raising living standards in every part of the UK – aim to deliver highest sustained growth in the G7
• Rebuilding Britain – build 1.5m homes in England and fast track planning decisions on at least 150 major infrastructure projects
• Ending hospital backlogs – 92% of patients will wait no longer than 18 months
• Putting police back on the beat – with 13,000 additional officers and a named police officer for every neighbourhood
• Giving children the best start in life – getting 75% of five-year-olds in England ready to learn when they start school
• Securing home grown energy – putting the UK on track to at least 95% clean power by 2030.
Image: Net Zero Secretary Ed Miliband said the official definition of net zero was 95% clean energy. Pic: PA
Sir Keir admitted Labour’s target to build 1.5 million new homes by 2029 may be “a little too ambitious” but denied he was going to change it.
He said the government faces an “almighty challenge” to hit these milestones by the end of this parliament as he denied the goals are not ambitious, saying they are “really risky” for Labour.
The PM was also questioned by journalists over the government’s net zero target because the Plan for Change document said the milestone of securing home grown energy would put the UK “on track to have at least 95% clean power by 2030”.
He insisted it was not a revision of Labour’s original target to get to 100% net zero by 2030.
Net Zero Secretary Ed Miliband said after the speech the Climate Change Committee’s original definition of “clean power…is 95% low-carbon, zero-carbon energy and that’s the definition we’re using”.
Sir Keir also used his speech to accuse Whitehall of becoming “comfortable with failure” and promised “a profound cultural shift away from a declinist mentality”, as well as honesty about the “trade-offs” required to achieve his aims.
Image: Conservative Alex Burghart said the speech showed Labour had lost their way. File Pic: PA
Senior Conservative Alex Burghart said he thought the speech was “probably the first reset of many” and accused Labour of having “clearly lost their way”.
“It is very difficult to believe anything that this government says,” he said.
“And this is a government that broke its promise to pensioners, broke its promises to businesses, to working people, to farmers. You know, the list goes on.
“So, it’s all very well them coming up with a bunch of pledges today but they’ve got a track record of not doing what they say they are going to do. So why should we listen to them now?”
Over $4 trillion worth of real estate could be tokenized on blockchain networks during the next decade, potentially offering investors greater access to property ownership opportunities, according to a new report.
The Deloitte Center for Financial Services predicts that over $4 trillion worth of real estate may be tokenized by 2035, up from less than $300 billion in 2024. The report, published April 24, estimates a compound annual growth rate (CAGR) of more than 27%.
The $4 trillion of tokenized property is predicted to stem from the benefits of blockchain-based assets, as well as a structural shift across real estate and property ownership.
Global tokenized real estate value, growth predictions. Source: Deloitte
“Real estate itself is undergoing transformation. Post-pandemic work-from-home trends, climate risk, and digitization have reshaped property fundamentals,” according to Chris Yin, co-founder of Plume Network, a blockchain built for real-world assets (RWAs).
“Office buildings are being repurposed into AI data centers, logistics hubs and energy-efficient residential communities,” Yin told Cointelegraph.
“Investors want targeted access to these modern use cases, and tokenization enables programmable, customizable exposure to such evolving asset profiles,” he said.
The uncertainty triggered by US President Donald Trump’s import tariffs has boosted investor interest in the RWA tokenization sector, which involves minting financial products and tangible assets on a blockchain.
Both stablecoins and RWAs have attracted significant capital as safe-haven assets amid the global trade concerns, Juan Pellicer, senior research analyst at IntoTheBlock, told Cointelegraph.
Blockchain innovation could drive regulatory clarity
Growing RWA adoption may inspire a more welcoming stance from global regulators, Yin said.
“While regulation is a hurdle, regulation follows usage,” he explained, likening tokenization to Uber’s growth before widespread regulatory acceptance:
“Tokenization is similar — as demand increases, regulatory clarity will follow.”
He added that making tokenized products compliant with a wide range of international regulations is key to unlocking broader market access.
However, some industry watchers are skeptical about the benefits introduced by tokenized real estate.
The Truth Behind Tokenization and RWA panel. Source: Paris Blockchain Week
“I don’t think tokenization should have its eyes directly set on real estate,” said Securitize chief operating officer Michael Sonnenshein at Paris Blockchain Week 2025.
“I’m sure there are all kinds of efficiencies that can be unlocked using blockchain technology to eliminate middlemen, escrow, and all kinds of things in real estate. But I think today, what the onchain economy is demanding are more liquid assets,” he added.
United States Senator Cynthia Lummis suggests the crypto industry may be celebrating too soon over the US Federal Reserve softening its crypto guidance for banks.
“The Fed withdrawing crypto guidance is just noise, not real progress,” Lummis said in an April 25 X post. Lummis called the Fed’s April 24 announcement — withdrawing its 2022 supervisory letter that had discouraged banks from engaging with crypto and stablecoin activities — “just lip service.”
Lummis’ tone was different from the rest of the crypto industry
Lummis, a pro-crypto advocate known for introducing the Bitcoin (BTC) Strategic Reserve Bill in July 2024, pointed out several flaws in the Fed’s announcement, even as Strategy founder Michael Saylor and crypto entrepreneur Anthony Pompliano suggested it was a step forward for banks and crypto.
She argued that the Fed continues to “illegally flout the law on master accounts” and still relies on reputational risk in its bank supervision practices. It comes as the Federal Insurance Deposit Corporation (FDIC) is working on a rule to stop examiners from considering reputational risk when reviewing a bank’s operations, according to a recent Bloomberg report.
Lummis also highlighted the Fed’s policy statement in Section 9(13), which hasn’t been withdrawn, stating that Bitcoin and digital assets are considered “unsafe and unsound.”
She also reiterated many of the same staff behind Operation Chokepoint 2.0 are still involved in crypto policy today.
“We are NOT fooled. The Fed assassinated companies within the industry and hurt American interests by stifling innovation and shuttering businesses. This fight is far from over.”
“I will continue to hold the Fed accountable until the digital asset industry gets more than a life jacket, Chair Powell — they need a fair shake,” Lummis said.
However, many crypto executives praised the Fed’s announcement as a positive development for the industry. Saylor said in an April 25 X post that the Fed’s move means that “banks are now free to begin supporting Bitcoin.”
Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum, said the Fed’s decision “is a significant development, as it will simplify the path to institutional adoption.”
In one of his first appearances as the recently sworn-in chair of the US Securities and Exchange Commission, Paul Atkins delivered remarks to the agency’s third roundtable discussion of crypto regulation.
In the “Know Your Custodian” roundtable event on April 25, Atkins said he expected “huge benefits” from blockchain technology through efficiency, risk mitigation, transparency, and cutting costs. He reiterated that among his goals at the SEC would be to facilitate “clear regulatory rules of the road” for digital assets, hinting that the agency under former chair Gary Gensler had contributed to market and regulatory uncertainty.
“I look forward to engaging with market participants and working with colleagues in President Trump’s administration and Congress to establish a rational fit-for-purpose framework for crypto assets,” said Atkins.
SEC chair Paul Atkins addressing the April 25 crypto roundtable. Source: SEC
Some critics of US President Donald Trump see Atkins’ nomination to lead the SEC as a nod to the crypto industry, acting on campaign promises to remove Gensler — the former chair resigned the day Trump took office — and cut back on regulation. Democratic lawmakers on the Senate Banking Committee questioned Atkins on his ties to the industry, potentially presenting conflicts of interest in his role regulating crypto.
“We’ve noticed that we don’t have to be as concerned […] about being accused of things that we’re not doing, like being broker-dealers for securities,” Exodus chief legal officer Veronica McGregor, who participated in the roundtable, told Cointelegraph on April 24.”It’s just a less scary regulatory environment in general. It is, however, still unclear what the ultimate regs are going to look like for crypto.”
The SEC crypto task force is scheduled to hold two more roundtables in May and June to discuss tokenization and decentralized finance, respectively. Commissioner Hester Peirce, who leads the task force, told Cointelegraph in March that she welcomed the opportunity to work with Atkins to “reorient the agency,” hinting at an SEC with regulations more favorable to the crypto industry.
In addition to the roundtables, the crypto task force has reported several meetings with digital asset firms to discuss various policies and considerations in developing a regulatory framework.