Sir Ed Davey has launched a furious attack on “unpatriotic” Nigel Farage for once saying he “admires” Vladimir Putin, claiming the Reform leader would “turn our great country into little more than a Donald Trump tribute act”.
In a speech at his party’s spring conference, the Liberal Democrat leader accused Donald Trump of “betraying Ukraine” and “selling out… the security of Europe and the security of our United Kingdom”.
He framed his party as the only one “speaking up in defiance” of the US president, and called on the government not to “appease” him.
The Lib Dem leader was speaking just weeks before the local elections on 1 May, when he is hoping to make further gains from the Conservative Party and stop Reform UK from making up any ground.
‘Unforgivable’ of Trump to ‘betray Ukraine’
In his lengthy speech to the party faithful, Sir Ed said this is “a time of great peril for our continent, and for our country”.
“Because Donald Trump is not only betraying Ukraine,” he said. “It’s not only their sovereignty he’s selling out. It’s our security. The security of Europe and the security of our United Kingdom. And that is unforgivable.”
Image: Sir Ed Davey addressing his party’s spring conference. Pic: PA
He said Putin has “fooled Donald Trump into thinking that his ambitions do not extend beyond parts of Ukraine”, and pointed to Russia’s activities in countries such as Georgia, Moldova and Romania, accusing Russia of “undermining their democracies and seeking to extend his grip further into Europe”.
He expressed pride in the UK’s response to Russia’s invasion, and said he was “proud that the prime minister brought Europe and Canada together here in Britain to chart a way forward, the day after those appalling scenes of Trump and Vance ambushing President Zelenskyy in the Oval Office”.
Farage ‘out of touch with British values’
Sir Ed said one has to “stand up” to people like Mr Trump and Mr Putin, who are “offend[ing] fundamental British values of decency, fair play, respect for national sovereignty and the rule of law”.
But he said there is “one lone holdout” who “simply doesn’t seem to get it” – and that is Nigel Farage, who “thinks Donald Trump and Vladimir Putin are great” in a “celebrity crush kind of way”.
Image: Nigel Farage is an outspoken supporter of Donald Trump. Pic: Reuters
Referencing Mr Farage’s comments from over a decade ago that Putin is the leader he most admires, Sir Ed said: “How despicable. How completely out-of-touch with British values. With human values. How unpatriotic. How deeply un-British.
“And this from a man who thinks he can be our prime minister. Not on our watch.”
He went on to say that the Reform UK leader has “nothing to say” about the challenges facing the health service, noting that he has “never uttered the word ‘care’ once in parliament”.
He accused the insurgent right-wing party of peddling “superficial, simplistic, snake-oil solutions”, and choosing to “exploit” the “struggles and anxieties” of the British people “for their own selfish ends”.
Badenoch has a ‘sneering attitude’
Sir Ed also hit out at the Conservative Party for “chasing Reform’s tail”.
He pointed to Kemi Badenoch recently saying that a “typical Liberal Democrat will be somebody who is good at fixing their church roof and people in the community like them”.
“I think she meant it as an insult. But I’ll happily wear it as a badge of honour,” he said. “Because she’s right. Liberal Democrats fix things.”
Image: Tory leader Kemi Badenoch. Pic: PA
He went on to say that she has “good reason” not to like his party, noting that they took 60 seats off the Tories at the general election.
“But what I’m talking about is the sneering attitude of the leader of the Conservatives, the sneering attitude that says fixing church roofs is somehow beneath her. Even beneath politics altogether.
“That what happens in our communities is trivial and insignificant compared to debating the true meaning of conservatism on Twitter.”
Sir Ed added that the Tories have “abandoned our communities” and public services, which is “why so many lifelong Conservative voters have turned to the Liberal Democrats”.
‘Impose tariffs on Musk’s Tesla cars’
The Lib Dem leader also had a few notes for the Labour government, calling on ministers to impose import tariffs on Tesla cars in retaliation for any tariffs imposed on the UK by the Trump administration, in which Tesla boss Elon Musk is a key player.
Image: Nigel Farage and treasurer Nick Candy meeting Elon Musk at Mar-A-Lago last year. Pic: PA
Sir Ed criticised the government for not ruling out changing or scrapping the tax on tech giants’ UK profits in order to avoid tariffs, saying: “Appeasement never works with bullies, and it doesn’t work with Trump – as his tariffs on British steel already show.”
He also called on the government to go further in its efforts to support Ukraine, arguing that frozen Russian assets should be given in funding, and saying he wants to join a new European Rearmament Bank.
On economic growth, Sir Ed called for “a new deal with the EU, with a Customs Union at its heart – putting us on a path back to the single market”.
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Speaking to Sky News last week, Sir Ed Davey demanded an emergency budget
‘This is a battle for the future’
In closing, Sir Ed said his party’s “liberal belief in internationalism […] offers the solution” to the problems facing the UK, “with Trump in the White House and Farage leading a Trump tribute act”.
“Our trademark community politics is the only way to defeat their cynical populism. The threat they pose is grave. The challenge before us is great.
“This is a battle of competing values. A battle of competing visions. A battle for the future. We didn’t choose this fight. But friends, I know you are up for it. I know together we can win it.”
Two strategic digital asset reserve bills in Arizona cleared Arizona’s House Rules Committee on March 24 and are now headed to the House floor for a full vote.
The bills together, if passed into law, would clear the way for Arizona to establish strategic digital assets reserves composed of existing assets confiscated through criminal proceedings in addition to newly invested public funds.
The Republicans hold a 33-27 majority in Arizona’s House of Representatives, giving both bills a decent chance of passing.
However, according to Bitcoin Laws, the final hurdle could be the state’s Democratic governor, Katie Hobbs. Hobbs has a history of vetoing bills before the House, having blocked 22% of bills in 2024 — the highest rate of any state governor.
Arizona’s two crypto bills explained
The two bills recently approved by Arizona’s House Rules Committee are the Strategic Digital Assets Reserve Bill (SB 1373) and the Arizona Strategic Bitcoin Reserve Act (SB 1025).
The Strategic Digital Assets Reserve Bill (SB 1373) focuses on establishing a strategic digital assets reserve made up of digital assets seized through criminal proceedings to be managed by the state’s treasurer.
The treasurer would be limited to investing no more than 10% of the fund’s total value each fiscal year. However, they would also be able to loan the fund’s assets in order to increase returns, provided that doing so doesn’t increase financial risks.
The Arizona Strategic Bitcoin Reserve Act (SB 1025) specifically deals with Bitcoin (BTC). The bill proposes allowing Arizona’s Treasury and state retirement system to invest up to 10% of its available funds into Bitcoin.
Additionally, SB 1025 would also allow for the state’s Bitcoin reserve to be stored in a secure, segregated account inside a federal Bitcoin reserve, should one be established.
While Arizona is now considered to be leading the race to establish a state-based digital asset reserve, several other states are hot on its heels.
On March 6, the Texas Senate passed the Strategic Bitcoin Reserve Bill (SB-21) by a vote of 25-5. The Texan bill still needs to pass the House and get the governor’s signature to pass into law. Following this vote, a new bill was introduced by Democrat Representative Ron Reynolds to cap the size of the previously uncapped reserve to $250 million.
Utah also recently passed Bitcoin legislation, but all references to the establishment of a strategic reserve were removed at the last moment.
Meanwhile, the Oklahoma House passed its Bitcoin Reserve Bill HB1203, 77-15 on March 25. That bill will now head to the state’s senate.
Massachusetts’ securities regulator has reportedly launched a probe over Robinhood’s prediction markets offering that has allowed users to bet on the outcomes for a slew of events, including basketball tournaments.
Reuters reported on March 24 that Massachusetts Secretary of State Bill Galvin said his office subpoenaed Robinhood last week to get information on its marketing materials and the number of Massachusetts-based users that traded sports events contracts on college basketball tournaments.
Galvin said he was concerned the trading platform was “linking a gambling event on a popular sports event that’s especially popular to young people to a brokerage account.”
“This is just another gimmick from a company that’s very good at gimmicks to lure investors away from sound investing,” he added.
Robinhood launched a prediction markets hub on March 17 that would be initially available through the Commodity Futures Trading Commission-regulated prediction platform Kalshi and would feature event contracts on college basketball tournaments and the May federal funds rate.
A Robinhood spokesperson told Cointelegraph that the event contracts “are regulated by the CFTC and offered through CFTC-registered entities.”
“Prediction markets have become increasingly relevant for retail and institutional investors alike, and we’re proud to be one of the first platforms to offer these products to retail customers in a safe and regulated manner,” the spokesperson said.
Robinhood Markets (HOOD) share price remained relatively flat after the close of trading on March 24 after an over 9% jump over the day to close at $48.36, according to Google Finance.
Robinhood is up nearly 30% so far this year but has fallen from its Feb. 14 all-time peak of $65.28. Source: Google Finance
The CFTC and Galvin’s office did not immediately respond to requests for comment.
Event contracts are agreements that allow users to bet on the outcome of essentially anything, from sports games to election outcomes and the price of cryptocurrencies.
They were popularized on the blockchain-based prediction market Polymarket and non-decentralized rival Kalshi and have caught the ire of some regulators.
Last month, Robinhood scrapped event contracts allowing for bets on the Super Bowl a day after launching the products after the CFTC asked it to.
The Massachusetts probe also requested Robinhood hand over internal communications about the decision to roll out the recent college basketball events contracts after the CFTC’s request to stop the Super Bowl contracts.
The CFTC also reportedly asked Kalshi and Crypto.com early last month to explain how both of their Super Bowl event contracts complied with derivatives regulations.
Rachel Reeves has pushed back at suggestions ministers are considering ending universal free school meals for primary school children.
The chancellor said she did not “recognise” reports in The Times that Bridget Phillipson, the education secretary, had suggested making free school meals for younger pupils means tested instead of universal, as is the case for older children.
Currently, all children in reception, year one and year two are entitled to free school meals, but according to the newspaper, Ms Phillipson made the recommendation as part of a package to reduce school spending by £500m.
A source close to Ms Phillipson told Sky News the reports were “complete rubbish” while the chancellor pointed to the government’s decision to roll out free breakfast clubs in all primary schools from April.
Ms Reeves told broadcasters: “This government is rolling out free breakfast clubs in all primary schools from April.
“I don’t recognise those claims that the government are looking at means-testing free school meals.
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“In fact, this government are ensuring that all children get a good start to the day with a breakfast club, helping working parents and helping all children get a good start in life.
“That is what this government is determined to do after 14 years of Conservative failure.”
On Wednesday the chancellor is expected to deliver a spring statement that sets out savings of around £10bn, including the £5bn of welfare savings announced last week.
Ms Reeves has also confirmed the civil service will be forced to cut £2bn a year by slashing administration costs by the end of the decade – although the savings will be used to protect frontline services from cutbacks.
The proposed cuts follow a speech by the prime minister in which he announced the abolition of NHS England, the administrative body that runs the national health service, in a bid to slash red tape and cut costs.
Today Sir Keir Starmer said the government was “looking across the board” at making cuts to unprotected departmental budgets.
“We’re not going to alter the basics, but we are going to look across and one of the areas that we will be looking at is: can we run the government more efficiently?” he told the BBC.
As well as suggestions that free school meals could be curtailed, The Times also said Ms Phillipson had offered to stop funding for free period products in schools as well as dance, music and PE schemes.
The source close to Ms Phillipson also denied those claims, saying: “It’s no secret that there are some tough choices coming down the track – but if people don’t think Bridget is going to fight tooth and nail to protect programmes that support the most disadvantaged children, they don’t know Bridget very well.
“Any suggestions those things are being ‘offered up’ is complete rubbish.”
At the same time, Ms Reeves has drawn criticism for hinting she could abolish or slash the digital services tax paid by tech companies while reducing benefits for ill and disabled people.
The levy, introduced in 2020 under former Conservative prime minister Rishi Sunak, ensures that digital companies with global sales exceeding £500m and with at least £25m worth of UK sales pay a tax of 2% on those UK sales.
Liberal Democrat leader Sir Ed Davey said changing the policy would amount to “appeasement” of Donald Trump following reports the government could alter or abandon the tax in a bid to avoid punitive US tariffs.
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Chancellor’s Spring Statement preview
Asked if the government was also considering abolishing or slashing the digital services tax paid by tech companies, Ms Reeves said: “Digital services tax is hugely important, it brings in around £800m a year and ensures that companies pay tax in the country that they are operating in.
“So we will continue to make sure that businesses pay their fair share of tax, including businesses in the digital sector.”
Addressing the cuts that are expected in Wednesday’s spring statement, the prime minister’s official spokesperson said: “The whole cabinet is focused on delivering high quality public services.
“This is shown in fixing the NHS and giving our kids the best opportunities and doing it to give taxpayers the best value for money.”
Turning to the suggestions the digital services tax could be axed, the spokesman added the UK would only do a deal with the US that was “in this country’s national interest”.