Yvette Cooper calls for new Runcorn MP after Amesbury jailed – but will keep his £91,000 salary

Published

9 months ago

February 25, 2025

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Home Secretary Yvette Cooper has said Runcorn needs a new Labour MP after Mike Amesbury was jailed for beating up a constituent – and will keep his £91,000 MPs salary in prison.

She told Wilfred Frost on Sky News Breakfast: “Whether it is resigning or through recall, everyone’s clear – the people of Runcorn deserve better representation, and that would come by having a newly elected MP.”

Amesbury, who has been an MP since 2017, remains as the MP for Runcorn and Helsby after being jailed for 10 weeks on Monday.

He had at an earlier hearing pleaded guilty to assaulting Paul Fellows, 45 by punching him to the ground and hitting him five more times in Frodsham, Cheshire, after a night out last October.

He has not resigned, despite calls for him to do so.

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The 55-year-old MP will keep receiving his £91,000 salary while in prison because parliamentary rules state a recall petition, which kickstarts a by-election, can only happen once an appeal period for a custodial sentence of a year or less is exhausted.

Amesbury’s lawyer stated in court he would be appealing the 10-week sentence, of which the MP will serve four weeks in HMP Altcourse in Liverpool.

There is also no mechanism to stop pay for MPs, unless they are suspended from the House of Commons, which has not yet happened for Amesbury.

Ms Cooper added: “It’s completely unacceptable what has happened. No matter who you are. No one is above the law.”

On whether the government is considering changing the law so MPs who receive a prison sentence can no longer serve as an MP, Ms Cooper said: “I think these are matters, obviously, for the parliamentary authorities and processes that is separate from the decisions government make.

“But we are clear we need a new representation in Runcorn.”

Conservative shadow minister Victoria Atkins told Sky News the public and MPs have been “disgusted” by Amesbury keeping his job and called for the rules to be changed.

“I find it extraordinary that someone can claim their salary from their prison cell when their job is to be here in parliament, representing their constituents,” she said.

“I think the government needs to look at this and we will look at these measures very, very carefully, whatever they bring forward.

“I share the public’s disgust that a Labour MP is sitting in prison, serving a prison sentence because he beat up a constituent.”

Amesbury was suspended by Labour two days after the incident, after CCTV footage was widely distributed.

He has been sitting as an independent since then and Labour has said he will not be admitted back in.

Reform UK has also called for Amesbury “to do the honourable thing and resign immediately”.

Amesbury pleaded guilty to assault by beating in January and described the incident as “highly regrettable” and apologised to Mr Fellows and his family outside the court.

After the judge left the courtroom in Chester on Monday, following sentencing, Amesbury’s lawyer asked for him to return and requested bail while he appealed the sentence.

Judge Tan Ikram returned to the court, sat down, paused briefly and said: “Application refused.”

Politics

Prediction markets bet on Coinbase-linked Hassett as top Fed pick

Published

2 hours ago

December 1, 2025

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Prediction markets bet on Coinbase-linked Hassett as top Fed pick

Prediction markets Polymarket and Kalshi view Kevin Hassett, US President Donald Trump’s National Economic Council director, as the favorite to replace Jerome Powell as the next Federal Reserve chair.

The odds of Hassett filling the seat have spiked to 66% on Polymarket and 74% on Kalshi at the time of writing. Hassett is widely viewed as crypto‑friendly thanks to his past role on Coinbase’s advisory council, a disclosed seven‑figure stake in the exchange and his leadership of the White House digital asset working group.

Founder and CEO of Wyoming-based Custodia Bank, and a prominent advocate for crypto-friendly regulations, Caitlin Long, commented on X:

“If this comes true & Hassett does become Fed chairman, anti-#crypto people at the Fed who still hold positions of power will finally be out (well, most of them anyway). BIG changes will be coming to the Fed.”

Kevin Hassett’s crypto credentials

Hassett is a long-time Republican policy economist who returned to Washington as Trump’s top economic adviser and has now emerged as the market-implied frontrunner to lead the Fed.

His financial disclosure reveals at least a seven‑figure Coinbase stake and compensation for serving on the exchange’s Academic and Regulatory Advisory Council, placing him unusually close to the crypto industry for a potential Fed chair.

Still, crypto has been burned before by reading too much into “crypto‑literate” resumes. Gary Gensler arrived at the Securities and Exchange Commission with MIT blockchain courses under his belt, but went on to preside over a wave of high‑profile enforcement actions, some of which critics branded as “Operation Chokepoint 2.0.”

A Hassett-led Fed might be more open to experimentation and less reflexively hostile to bank‑crypto activity. Still, the institution’s mandate on financial stability means markets should not assume a one‑way bet on deregulation.

Supervision pushback inside the Fed

The Hassett odds have jumped just as the Fed’s own approach to bank supervision has received pushback from veterans like Fed Governor Michael Barr, who earned his reputation as one of Operation Chokepoint 2.0’s key architects.

According to Caitlin Long, while he Barr “was Vice Chairman of Supervision & Regulation he did Warren’s bidding,” and he “has made it clear he will oppose changes made by Trump & his appointees.”

On Nov. 18, the Fed released new Supervisory Operating Principles that shift examiners toward a “risk‑first” framework, directing staff to focus on material safety‑and‑soundness risks rather than procedural or documentation issues.

In a speech the same day, Barr warned that narrowing oversight, weakening ratings frameworks and making it harder to issue enforcement actions or matters requiring attention could leave supervisors slower to act on emerging risks, arguing that gutting those tools may repeat pre‑crisis mistakes.

Days later, in Consumer Affairs Letter 25‑1, the Fed clarified that the new Supervisory Operating Principles do not apply to its Consumer Affairs supervision program (an area under Barr’s committee as a governor).

If prediction markets are right and a crypto‑friendly Hassett inherits this landscape, his Fed would not be writing on a blank slate but stepping into an institution already mid‑pivot on how hard (and where) it leans on banks.