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British voters are in for a relatively untroubled 2025, after the “Year of Elections” which saw a new government in the UK and major upheavals around the world, including the victory of Donald Trump, who will be inaugurated as US president for the second time on 20 January.

In all likelihood, Sir Keir Starmer needs not go to the polls for some four and a half years, thanks to the huge Commons majority Labour won last July.

August 2029 is the deadline for the next UK general election, by which time the second Trump administration will have been and gone.

The next elections for the Scottish parliament and the assemblies in Wales and Northern Ireland are not due until 27 May 2026.

All of which means slim pickings for those trying to glean the political mood of the UK and a much greater focus than usual this year on what little voting is due to take place: English councils on 1 May. Making detailed sense of the picture will be a tough task for two vital reasons.

Comparisons with the last local elections in the same places in May 2021 will be tricky because the government’s English Devolution Bill has given some areas the chance to opt out of elections this year if they are likely to become part of the proposed combined single-tier “Strategic Authorities”.

Secondly, in 2021 the state of the parties in contention was very different. There was no Reform UK party, and none of its predecessor Brexit or UKIP parties to speak of. Boris Johnson’s Conservatives were riding high. The Tories made big gains at council level, while Labour, Liberal Democrats and Greens stalled.

The political map has been transformed since then. Today there are five Reform UK MPs at Westminster, four Greens and a record 72 Liberal Democrats.

The standard question in opinion polls is: “How would you vote if there were to be a general election tomorrow?”.

We all know there is not going to be one for years.

Besides, as beleaguered politicians always like to point out when the news is bad, even when one was imminent in 2024, the polls did not precisely reflect what happened with “real votes in real ballot boxes”.

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Test your political knowledge in the Politics Hub’s 2024 quiz

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Party leaders’ Christmas messages

Picture is not cheering for established parties

What the polls do give is a broad indication of the trend in opinion, and the picture is not cheering for the established parties.

Labour and the Conservatives are neck-and-neck in the mid-20% range, an astonishingly low level of support for either of them.

Reform UK is only about five points behind, clearly the current third force in British politics and well up on their 14% at the general election.

The Liberal Democrats, at around 12% and the Greens at 6% are more or less holding their vote share.

Prime Minister Sir Keir Starmer departs 10 Downing Street, London, to attend Prime Minister's Questions at the Houses of Parliament. Picture date: Wednesday December 18, 2024. PA Photo. See PA story POLITICS PMQs. Photo credit should read: James Manning/PA Wire
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Sir Keir Starmer. Pic: PA

Can Reform and Farage keep up momentum?

The big question in the 2025 local elections is whether Reform UK and its leader Nigel Farage can keep up their momentum.

On the face of it the party seems well placed to make a splash. Because it is starting from zero – any council seats it wins will count as gains.

Reform UK has reorganised since the general election and is now trying to establish a competitive grassroots operation.

Mr Farage speaks at a Trump campaign event in Arizona in 2020. Pic: Reuters
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Nigel Farage speaking at a Donald Trump campaign event in Arizona in 2020. Pic: Reuters

Funding does not seem to be a problem. Zia Yusuf, a multi-millionaire former Goldman Sachs banker, has taken over as party chairman.

The property magnate Nick Candy, Reform UK’s new treasurer, was in the group that met Elon Musk at Mr Trump’s Mar-e-Largo headquarters. Afterwards Mr Farage downplayed reports Mr Musk might be prepared to donate as much as $100m (£79m) to his party.

Nigel Farage and Reform UK treasurer Nick Candy with Elon Musk. Pic: PA
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Nigel Farage and Reform UK treasurer Nick Candy with Elon Musk. Pic: PA

Reform is splitting the right-of-centre vote

Reform UK claimed last week to have several thousand more members registered than the Conservative Party’s official figure of 131,680 – a ticker on their official website is keeping count.

The party is currently splitting the vote on the right of centre with the Conservative Party as its prime target. The strong Tory performance in these areas last time leaves them looking highly vulnerable.

In 2021, the Conservatives won control of 19 out of 21 county councils and seven of 13 unitary authorities. In subsequent local elections in other areas the Conservatives suffered heavy losses, meaning overall they are now behind Labour for the total number of councillors. This year the Tories are defending their last remaining electoral high point.

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‘Something remarkable’ about Gen Z

Tories don’t know whether to fight or accommodate Reform

Mr Farage is the outstanding communicator active in British politics, who has frequently exploited non-Westminster elections to exert pressure on the UK government, most notably in the 2014 and 2019 European elections, when strong performances drove the Conservatives first to the EU membership referendum and then to a hard Brexit.

The Conservatives do not know whether to fight or try to accommodate Reform UK.

Should Reform hammer them in this year’s council elections, it could be the end for Kemi Badenoch’s leadership. In the longer run it is conceivable Reform could supplant the Conservatives – or take them over by merger – as the main political force on the right of British politics.

Conservative party leader Kemi Badenoch speaking at the Confederation of British Industry (CBI) conference.
Pic: PA
Image:
Kemi Badenoch. Pic: PA


Reform also targeting Labour voters

There is also a Reform UK threat to Labour as well.

So far Labour has dominated the new strategic mayoralities and combined authorities in England. They currently hold all four of those up for election in May 2025: West of England, Cambridgeshire, Doncaster and North Tyneside. Two more mayors are being voted for this year in Greater Lincolnshire and Hull and East Yorkshire.

While socially right-wing, Reform UK is tailoring its economic message to the less well-off, including to populations in the so-called “Red Wall”, de-industrialised areas of the country which were once safe Labour constituencies. For example, Dame Andrea Jenkyns, the former Conservative MP and minister, is now Reform’s candidate to be the new mayor of Greater Lincolnshire.

Unlike the two main parties, Reform has a straightforward policy on the threatened Scunthorpe steelworks – nationalise it. It has obvious appeal even though there is no chance Dame Andrea could enact it.

A disappointment for Farage would not be the end of the insurgency

Voters are more inclined to vote with their hearts when the national government is not at issue. One of Sir Keir’s nightmares must be that the devolution this government is spreading across England starts to light up in colours other than red.

It is certainly possible this year’s council election results could be a major disappointment for Mr Farage’s party. If so it will not be the end of the insurgency. Reform UK is already also making plans to inflict damage on Conservatives, Labour and SNP alike in the next set of non-Westminster elections, in 2027, in Scotland and Wales.

2025’s comparatively minor elections are set to have major political consequences at the very least for Mr Farage, Ms Badenoch and the Conservative Party.

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Bitcoin treasury firms driving $200T hyperbitcoinization — Adam Back

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Bitcoin treasury firms driving 0T hyperbitcoinization — Adam Back

Bitcoin treasury firms driving 0T hyperbitcoinization — Adam Back

Investment firms with Bitcoin-focused treasuries are front-running global Bitcoin adoption, which may see the world’s first cryptocurrency soar to a $200 trillion market capitalization in the coming decade.

Institutions and governments worldwide are starting to recognize the unique monetary properties of Bitcoin (BTC), according to Adam Back, co-founder and CEO of Blockstream and the inventor of Hashcash.

“$MSTR and other treasury companies are an arbitrage of the dislocation between the bitcoin future and todays fiat world,” Back wrote in an April 26 X post.

“A sustainable and scalable $100-$200 trillion trade front-running hyperbitcoinization. scalable enough for most big listed companies to move to btc treasury,” he added.

Hyperbitcoinization refers to the theoretical future where Bitcoin soars to become the largest global currency, replacing fiat money due to its inflationary economics and growing distrust in the legacy financial system.

Bitcoin treasury firms driving $200T hyperbitcoinization — Adam Back
Source: Adam Back

Related: Crypto sentiment recovers, but weekend liquidity risks remain

Bitcoin’s price outpacing fiat money inflation remains the main driver of global hyperbitcoinization, Back said, adding:

“Some people think treasury strategy is a temporary glitch. i’m saying no it’s a logical and sustainable arbitrage. but not for ever, the driver is bitcoin price going up over 4 year periods faster than interest and inflation.”

Back’s comments come nearly two months after US President Donald Trump signed an executive order to establish a national Bitcoin reserve from BTC forfeited in government criminal cases.

Related: Serbia’s Prince Filip says Bitcoin is being stifled, expects huge rally

Global firms continue Bitcoin accumulation

Continued Bitcoin investments from the likes of Strategy, the largest corporate Bitcoin holder, may inspire more global firms to follow suit.

Strategy’s approach is proving to be lucrative, with the firm’s Bitcoin treasury generating over $5.1 billion worth of profit since the beginning of 2025, according to Strategy’s co-founder, Michael Saylor.

Bitcoin treasury firms driving $200T hyperbitcoinization — Adam Back
Source: Michael Saylor

Japanese investment firm Metaplanet, also known as “Asia’s MicroStrategy,”  adopted a similar strategy, since surpassing 5,000 BTC in total holdings on April 24, Cointelegraph reported.

As Asia’s largest corporate Bitcoin holder, Metaplanet plans to acquire 21,000 BTC by 2026.

US financial institutions may also have more confidence in adopting Bitcoin after the US Federal Reserve withdrew its 2022 guidance discouraging banks from engaging with cryptocurrency. “Banks are now free to begin supporting Bitcoin,” Saylor said in response to the guidance withdrawal.

“Banks will now be supervised through normal processes, signaling a more open regulatory environment for digital asset integration,” Nexo dispatch analyst Iliya Kalchev told Cointelegraph.

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

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US crypto rules like ‘floor is lava’ game without lights — Hester Peirce

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<div>US crypto rules like 'floor is lava' game without lights — Hester Peirce</div>

<div>US crypto rules like 'floor is lava' game without lights — Hester Peirce</div>

SEC Commissioner and head of the crypto task force, Hester Peirce, says US financial firms are navigating crypto in a way that’s similar to playing the children’s game “the floor is lava,” but in the dark.

“It is time that we find a way to end this game. We need to turn on the lights and build some walkways over the lava pit,” Peirce said at the SEC “Know Your Custodian” roundtable event on April 25.

The lava is crypto, says Peirce

Peirce explained that SEC registrants are forced to approach crypto-related activities like “the floor is lava,” where the aim is to jump from one piece of furniture to the next without touching the ground, except here, touching crypto directly is the lava.

“A D.C. version of this game is our regulatory approach to crypto assets, and crypto asset custody in particular,” she said.

Peirce said that, much like in the game, firms wanting to engage with crypto must avoid directly holding it due to unclear regulatory rules. “To engage in crypto-related activities, SEC-registrants have had to hop from one poorly illuminated regulatory space to the next, all while ensuring that they never touch any crypto asset,” Peirce said.

Cryptocurrencies, SEC, United States
Source: US Securities and Exchange Commission

Peirce said that investment advisers are often unsure which crypto assets qualify as securities, what entities count as qualified custodians, and whether “exercising staking or voting rights” could trigger custody violations.

“The twist in the regulatory version is that it is largely played in the dark: burning legal lava and no lamps to illuminate the way.”

Peirce also said that a broker or ATS that cannot custody or manage crypto assets will struggle to facilitate trading, making it unlikely for a “robust market” to develop.

Echoing a similar sentiment, SEC Commissioner Mark Uyeda said at the event that as more SEC registrants work with crypto assets, it’s essential that they have access to custodial options that meet legal and regulatory requirements.

Uyeda said the agency should consider letting advisers use “state-chartered limited-purpose trust companies” with the authority to hold crypto assets as qualified custodians.

Related: Blockchain needs regulation, scalability to close AI hiring gap

Meanwhile, the recently sworn-in chair of the SEC, Paul Atkins, said that 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.

Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 19 – 25

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Labour and Reform in battle for Runcorn by-election seat – but disillusionment could be eventual winner

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Labour and Reform in battle for Runcorn by-election seat - but disillusionment could be eventual winner

On the banks of the Mersey, Runcorn and Helsby is a more complicated political picture than the apparent Labour heartland that first presents itself.

Yes, there are industrial and manufacturing areas – an old town that’s fallen victim to out-of-town shopping, and an out-of-town shopping centre that’s fallen victim to Amazon.

But there are also more middle-class new town developments, as well as Tory-facing rural swathes.

Space Café director Marie Moss says a sense of community has faded
Image:
Space Cafe director Marie Moss says a sense of community has faded

One thing this area does mirror with many across the country, though, is a fed-up electorate with little confidence that politics can work for them.

In the Space Cafe in Runcorn Old Town, its director Marie Moss says many in the region remember a time when a sense of community was more acute.

“People were very proud of their town… and that’s why people get upset and emotional as they remember that,” she says.

It’s this feeling of disenfranchisement and nostalgia-tinged yearning for the past that Reform UK is trading off in its targeting of traditional Labour voters here.

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Party leader Nigel Farage features heavily on leaflets in these parts, alongside spikey messaging around migration, law and order, and Labour’s record in government so far.

Runcorn 2024 result
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Runcorn 2024 result

Taxi driver Mike Holland hears frequent worries about that record from those riding in the back of his cab.

A Labour voter for decades, he says locals were “made up” at last year’s election result but have been “astonished” since then, with benefit changes a common topic of concern.

“Getting a taxi is two things, it’s either a luxury or a necessity… the necessity people are the disabled people… and a lot of the old dears are so stressed and worried about their disability allowance and whether they are going to get it or not get it,” he says.

But will that mean straight switchers to Reform UK?

Taxi driver Mike Holland has voted for Labour for decades, but is looking at the Liberal Democrats and Greens, or may not vote
Image:
Taxi driver Mike Holland has voted for Labour for decades, but is now looking at the Lib Dems and Greens – or may not vote at all

Mike says he agrees with some of what the party is offering but thinks a lot of people are put off by Mr Farage.

He’s now looking at the Liberal Democrats and Greens, both of whom have put up local politicians as candidates.

Or, Mike says, he may just not vote at all.

It’s in places like Runcorn town that some of the political contradictions within Reform UK reveal themselves more clearly.

Many here say they were brought up being told to never vote Tory.

And yet, Reform, chasing their support, has chosen a former Conservative councillor as its candidate.

It’s no surprise Labour has been trialling attack lines in this campaign, painting Mr Farage’s party as “failed Tories”.

As a response to this, look no further than Reform’s recent nod to the left on industrialisation and public ownership.

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

Read more:
Tough test for Labour after MP quits
MP jailed for late-night brawl
Local elections could re-shape politics

But head 15 minutes south from Runcorn docks, and this by-election campaign changes.

Rural areas like Frodsham and Helsby have, in the past, tended towards the Tories.

The Conservatives, of course, have a candidate in this vote, one who stood in a neighbouring constituency last year.

But Reform is now making a hard play for their supporters in these parts, with a softer message compared to the one being put out in urban areas – an attempt to reassure those anxious about too much political revolution coming to their privet-lined streets.

Labour, meanwhile, is actively trying to mobilise the anti-Farage vote by presenting their candidate – another local councillor – as the only person who can stop Reform.

Nadine Tan is concerned about division and anger in the community
Image:
Makeup artist Nadine Tan is concerned about division and anger in the community

The pitch here is aimed at voters like Frodsham makeup artist Nadine Tan, who are worried about division and anger in the community.

“I think they need to kind of come together and stop trying to divide everyone,” she says.

But like Mike the taxi driver five miles north, disillusionment could be the eventual winner as Nadine says, despite the “thousands of leaflets” through her door, she still thinks “they all say the same thing”.

One factor that doesn’t seem to be swinging too many votes, though, is the insalubrious circumstances in which the area’s former Labour MP left office.

Suspended Labour MP Mike Amesbury walks outside Chester Magistrates Court.
Pic: Reuters
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Labour MP Mike Amesbury was convicted of punching a man in the street. Pic: Reuters

Mike Amesbury stepped down after being convicted of repeatedly punching a constituent in a late-night brawl outside a pub.

But across the patch, many praise their ex-MP’s local efforts, while also saying he was “very silly” to have acted in the way he did.

That may be putting it mildly.

But it’s hard to find much more agreement ahead of Thursday’s vote.

A constituency still hungry for change, but unsure as to who can deliver it.

Full list of candidates, Runcorn and Helsby by-election:

Catherine Anne Blaiklock – English Democrats
Dan Clarke – Liberal Party
Chris Copeman – Green Party
Paul Duffy – Liberal Democrats
Peter Ford – Workers Party
Howling Laud Hope – Monster Raving Loony Party
Sean Houlston – Conservatives
Jason Philip Hughes – Volt UK
Alan McKie – Independent
Graham Harry Moore – English Constitution Party
Paul Andrew Murphy – Social Democratic Party
Sarah Pochin – Reform UK
Karen Shore – Labour
John Stevens – Rejoin EU
Michael Williams – Independent

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