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Sir Keir Starmer’s promises to the British people have been evolving since he first outlined his “five missions” in February 2023. 

In public, Downing Street denies any tensions between the missions, May’s “first steps” and today’s six “milestones” and three “foundations”.

In private, I’ve been told they have caused divisions, with the focus changing after the original architects left as Labour entered power.

But what really matters is how they have evolved. Here’s how they have changed and what that means.

Politics latest: Starmer knows he needs answer to Nigel Farage

The Plan for Change: Economy

Feb 2023 Mission: To secure the highest sustained growth in the G7 – with good jobs and productivity growth in every part of the country making everyone, not just a few, better off.

June 2024 First Step: Deliver economic stability with tough spending rules, so we can grow our economy and keep taxes, inflation and mortgages as low as possible.

Dec 2024 Milestone: Raising living standards in every part of the United Kingdom, so working people have more money in their pockets as we aim to deliver the highest sustained growth in the G7.

Analysis: The new big economic target – to raise living standards in this parliament – is already on track to be met, according to the government financial watchdog.

Some in government hope this will eclipse the existing target – to overtake the growth rate of all other G7 countries – that was promised in February 2023.

Sir Keir said today he was “doubling down” on the G7 target, despite economists doubting it could ever be achieved, with some sources suggesting it would disappear altogether.

But today it became an “aim”, not a pledge, and the PM hinted he knows it will not be achieved in this parliament by promising the living standards milestone first – do we effectively have a target that isn’t a target?

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Starmer unveils ‘plan for change’

The Plan for Change: Environment

Feb 2023 Mission: Make Britain a clean energy superpower to cut bills, create jobs and deliver security with cheaper, zero-carbon electricity by 2030, accelerating to net zero.

June 2024 First Step: Set up Great British Energy, a publicly-owned clean power company, to cut bills for good and boost energy security, paid for by a windfall tax on oil and gas giants.

Dec 2024 Milestone: Securing home-grown energy, protecting bill payers and putting us on track to at least 95% clean power by 2030, while accelerating the UK to net zero.

Analysis: The 2023 zero-carbon electricity supply mission – and the Labour manifesto – made no mention that the party believes it will have achieved the target while still having up to 5% of electricity generation powered by fossil fuels.

However, Labour did say, including in its manifesto, that a strategic reserve of gas is needed as a last resort, and while the party did not put a figure on it, other bodies suggested the 95% target is consistent with being able to claim the UK has a zero-carbon supply.

Read more
How achievable are Labour’s green priorities?

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Ed Miliband arriving ahead of Prime Minister Sir Keir Starmer welcoming the Emir of Qatar Sheikh Tamim bin Hamad Al Thani to 10 Downing Street.
Pic: PA
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Energy Secretary Ed Miliband has defended the government’s policy. Pic: PA

The Plan for Change: Building

Feb 2023 Mission: Not mentioned.

June 2024 First Step: Not mentioned.

Dec 2024 Milestone: Rebuilding Britain with 1.5 million homes in England and fast-tracking planning decisions for at least 150 major economic infrastructure projects.

Analysis: This contains the big new target of the speech – the 150 decisions on major projects. Sir Keir Starmer is on the side of the builders and the makers. But will they happen? This is the big test of whether those in Whitehall have listened to the speech and will get out of their tepid bath.

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Why hasn’t the UK built more houses?

The Plan for Change: Crime

Feb 2023 Mission: Take back our streets by halving serious violent crime and raising confidence in the police and criminal justice system to its highest levels.

June 2024 First Step: Clamp down on anti-social behaviour, with more neighbourhood police, paid for by ending wasteful contracts, tough new penalties for offenders, and a new network of youth hubs.

Dec 2024 Milestone: Putting police back on the beat with a named officer for every neighbourhood and 13,000 additional officers, police community support officers (PCSOs) and special constables in neighbourhood roles in England and Wales.

Analysis: The idea of a named officer is new and ambitious. The 13,000 target was in Labour’s manifesto and Yvette Cooper said the extra £100m next year would fund 1,200 new police officers.

Tories claim this means officers would be redeployed from other areas.

The Plan for Change: Education

Feb 2023 Mission: Break down barriers to opportunity by reforming our childcare and education systems, to make sure there is no class ceiling on the ambitions of young people in Britain.

June 2024 First Step: Recruit 6,500 new teachers in key subjects to set children up for life, work and the future, paid for by ending tax breaks for private schools.

Dec 2024 Milestone: Giving children the best start in life, with a record 75% of five-year-olds in England ready to learn when they start school.

Analysis: Labour is saying the proportion of children who are ready for school educationally and socially at five will rise from 67% to 75%.

Rolling out better early years provision is a government priority but the nursery sector has been left chronically underfunded. Tories point out there is less of a focus on schools.

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Thousands of children missing school

The Plan for Change: Health

Feb 2023 Mission: Build an NHS fit for the future that is there when people need it; with fewer lives lost to the biggest killers; in a fairer Britain, where everyone lives well for longer.

June 2024 First Step: Cut NHS waiting times with 40,000 more appointments each week, during evenings and weekends, paid for by cracking down on tax avoidance and non-dom loopholes.

Dec 2024 Milestone: Ending hospital backlogs to meet the NHS standard of 92% of patients in England waiting no longer than 18 weeks for elective treatment.

Analysis: This is an ambitious, stretching target which has not been hit for almost a decade.

It will take focus and cash, and could come both at the expense of other services like A&E and divert away from Wes Streeting’s big reform plan to move treatments from hospitals to the community.

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The Plan for Change: Migration

Feb 2023 Mission: Not mentioned.

June 2024 First Step: Launch a new Border Security Command with hundreds of new specialist investigators and use counter-terror powers to smash criminal boat gangs.

Dec 2024 Milestone: Not mentioned as a milestone but is mentioned separately.

Analysis: Not one of the milestones, which has confused some, given its prominence in political debate.

Instead this issue – of secure borders – is one of three “foundations”, alongside economic stability and national security. But six milestones plus three foundations is a lot of priorities.

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Reduced tariffs on whisky and gin as UK and India strike ‘historic’ trade deal

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Reduced tariffs on whisky and gin as UK and India strike 'historic' trade deal

The UK and India have struck an “ambitious” trade deal that will slash tariffs on products such as whisky and gin. 

The agreement will also see Indian tariffs cut on cosmetics and medical devices and will deliver a £4.8bn boost to the UK economy, according to the government.

It is also expected to increase bilateral trade by £25.5bn, UK GDP by £4.8bn and wages by £2.2bn each year in the long term.

Politics latest: PM urged to rethink two major policies

The news will be a welcome boost for the government following poor local election results, which saw Labour lose the Runcorn by-election and control of Doncaster Council to a resurgent Reform UK.

What will also be touted as a victory for Downing Street is the fact the government managed to strike a deal with India before the White House.

Speaking to reporters on Tuesday, Sir Keir Starmer hailed the “historic day for the United Kingdom and for India”.

More on India

“This is the biggest trade deal that we, the UK, have done since we left the EU,” the prime minister said.

What trade-offs are in the ‘historic’ deal with India?


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Gurpreet Narwan

Business and economics correspondent

@gurpreetnarwan

This is the most significant trade deal Britain has negotiated since Brexit. It has been three years in the making with round the clock negotiations taking place in recent days.

Britain and India were coming from very different starting points. India’s economy is notoriously protectionist, with average tariff rates floating at around 130%. The UK, by comparison, is a very open economy. Our tariff rates hover around 5%. It means there were many prizes on offer for UK exporters, who are eyeing up a rapidly growing economy with increasingly powerful consumers.

The government will point to considerable concessions on 90% of tariff lines, 85% of them will go down to zero within the decade. It includes wins on whisky, which within ten years will be halved from the current 150%. No other country has managed to get India to move on that.

Of course there are trade-offs involved. The UK has agreed to lower tariffs on Indian textiles and apparel- a big employer in India. It will also make it easier for Indian professionals to come to the UK, something the Indians have been pushing hard on. However, there will be no formal changes to immigration policy.

Both countries have also refused to budge on certain industries. The UK has not lowered tariffs on milled rice, out of fear it could decimate native industries. The same applies to dairy for the Indians. Both sides have agreed quotas on cars for the same reason.

The Indians were pushing for an exemption for its high emission industries from the UK’s upcoming carbon tax. It is understood that will not happen.

“And it’s the most ambitious trade deal that India has ever done. And this will be measured in billions of pounds into our economy and jobs across the whole of the United Kingdom.

“So it is a really important, significant day. “

In a post on X, Indian Prime Minister Narendra Modi also welcomed the agreement as a “historic milestone” and added: “I look forward to welcoming PM Starmer to India soon.”

Negotiations for the deal relaunched in March after stalling under the Tory government over issues including trade standards and the relaxation of visa rules for Indian workers.

Overall, 90% of tariff lines will be reduced under the deal, with 85% of those becoming fully tariff-free within a decade.

Whisky and gin tariffs will be halved from 150% to 75% before falling to 40% by year ten of the deal, while automotive tariffs will go from more than 100% to 10% under a quota, the Department for Business and Trade (DBT) said.

For Indian consumers, there will be reduced tariffs on cosmetics, aerospace, lamb, medical devices, salmon, electrical machinery, soft drinks, chocolate and biscuits.

Meanwhile, British shoppers could see cheaper prices and more choice on products including clothes, footwear, and food products including frozen prawns as the UK liberalises tariffs.

India’s trade ministry said that under the deal, 99% of Indian exports will benefit from zero duty, Britain will remove a tariff on textile imports and Indian employees working in the UK will be exempt from social security payments for three years.

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Shadow trade secretary Andrew Griffith added: “It’s good to see the government recognise that reducing cost and burdens on businesses in international trade is a good thing, and that thanks to Brexit we can do.

“But it would be even better if they would apply the same reasoning to our domestic economy, where they remain intent on raising taxes, energy costs and regulatory burdens.”

The news was also welcomed by business group the British Chamber of Commerce, which said it was a “welcome lift for our exporters”.

William Bain, head of trade policy, said:  ”Against the backdrop of mounting trade uncertainty across the globe, these tariff reductions will be a big relief. Products from Scotch whisky to clothing will benefit and this will give UK companies exporting to India a clear edge on increasing sales.

“The proposals for a follow-up investment treaty will also provide a solid platform to grow manufacturing and other sectors in our two economies.”

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Dem lawmakers object to hearing, citing ‘Trump’s crypto corruption’

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<div>Dem lawmakers object to hearing, citing 'Trump’s crypto corruption'</div>

<div>Dem lawmakers object to hearing, citing 'Trump’s crypto corruption'</div>

Representative Maxine Waters, ranking member of the House Financial Services Committee (HFSC), led Democratic lawmakers out of a joint hearing on digital assets in response to what she called “the corruption of the President of the United States” concerning cryptocurrencies.

In a May 6 joint hearing of the HFSC and House Committee on Agriculture, Rep. Waters remained standing while addressing Republican leadership, saying she intended to block proceedings due to Donald Trump’s corruption, “ownership of crypto,” and oversight of government agencies. Digital asset subcommittee chair Bryan Steil, seemingly taking advantage of a loophole in committee rules, said Republican lawmakers would continue with the event as a “roundtable” rather than a hearing.

HFSC Chair French Hill urged lawmakers at the hearing to create a “lasting framework” on digital assets, but did not directly address any of Rep. Waters’ and Democrats’ concerns about Trump’s involvement with the crypto industry. He claimed Waters was making the hearing a partisan issue and shutting down discussion on a digital asset regulatory framework.

This is a developing story, and further information will be added as it becomes available.

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IRS appoints Trish Turner to head crypto division amid resignations

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IRS appoints Trish Turner to head crypto division amid resignations

IRS appoints Trish Turner to head crypto division amid resignations

Veteran US Internal Revenue Service (IRS) official Trish Turner was appointed to lead the agency’s digital assets division following the departure of two key crypto-focused executives.

Turner, who has spent over 20 years at the IRS and most recently served as a senior adviser within the Digital Assets Office, will now head the unit, according to a report from Bloomberg Tax citing a person familiar with the situation.

Her promotion marks a significant leadership transition at a time when US crypto tax enforcement is facing both internal and external pressures.

On May 5, Sulolit “Raj” Mukherjee and Seth Wilks, two private-sector experts brought in to lead the IRS’s crypto unit, exited after roughly a year in their roles.

Mukherjee served as compliance and implementation executive director, while Wilks oversaw strategy and development. Wilks announced his departure on LinkedIn, while Mukherjee confirmed his decision in a statement to Bloomberg Tax.

“The reality is that federal employees have faced a very difficult environment over the past few months,” Wilks wrote. “If stepping aside helps preserve someone else’s job, then I am at peace with the decision.”

IRS appoints Trish Turner to head crypto division amid resignations
Seth Wilks announced his departure on LinkedIn. Source: Seth Wilks

Related: Coinbase files brief with US Supreme Court in support of taxpayers’ privacy

IRS ramps up crypto scrutiny

The IRS has ramped up its focus on cryptocurrency in recent years, increasing audits and criminal probes targeting digital asset transactions.

It also attempted to introduce broad crypto broker reporting requirements, which drew sharp criticism from industry stakeholders and was eventually overturned by President Donald Trump.

Set to take effect in 2027, the so-called IRS DeFi broker rule would have expanded the tax authority’s existing reporting requirements to include DeFi platforms, requiring them to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions.

Related: NFT trader faces prison for $13M tax fraud on CryptoPunk profits

Turner’s leadership also comes during a shift in Washington’s approach to crypto regulation.

With the return of the Trump administration in January, federal agencies have scaled back regulations perceived as burdensome to digital asset innovation.

For instance, the Securities and Exchange Commission has dropped or paused over a dozen enforcement cases against crypto companies. Additionally, the Department of Justice has announced the dissolution of its cryptocurrency enforcement unit, signaling a softer approach to the sector.

Internally, the IRS is also navigating instability. Over 23,000 employees have reportedly expressed interest in resigning after Trump reintroduced a deferred resignation policy, raising concerns about long-term staffing and morale within the agency.

Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest, April 27 – May 3

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