Connect with us

Published

on

Wes Streeting has suggested he is confident the government will now win a crunch vote on welfare cuts after Sir Keir Starmer made a number of concessions to prevent a damaging rebellion.

The health secretary told Sunday Morning With Trevor Phillips the alterations to the controversial welfare bill meant those in receipt of benefits now had “peace of mind”.

Asked whether he was confident the government would now win a vote on the reforms scheduled for Tuesday, Mr Streeting said: “Yes.

Politics latest: Minister tells Israeli embassy to ‘get your own house in order’ amid Glastonbury row

“I think the changes that were made this week have put us in a much better position, not just on the vote on Tuesday, but on the substance of the package – because as a result of the changes, it means anyone watching this morning who’s in receipt of PIP, Personal Independence Payments, now has the peace of mind of knowing that their situation is protected.”

It comes after the prime minister carried out the most significant U-turn of his premiership at the end of the week in order to quell a growing rebellion over his welfare package.

More than 120 Labour MPs had signalled they were prepared to vote down the bill next week after they signed an amendment that would have stopped its progress through parliament – citing concerns about the impact on the most vulnerable and the lack of proper consultation with disabled groups.

More on Benefits

The scale of the rebellion – and the fact it spanned all wings of the party – alarmed Downing Street and led to Sir Keir making a number of changes to diffuse the anger.

Originally, the bill set out to tighten the eligibility criteria for PIP – money that is given to people, some of whom are in work, who have extra care or mobility needs as a result of a disability.

People who claim it are awarded points depending on their ability to do certain activities, such as washing and preparing food, which influences how much they will receive.

Currently claimants need to score a minimum of eight points across a range of tasks to qualify for the daily living element (there is a mobility element that is not affected by the plans). Under the new rules people will need to score a minimum of four points in at least one activity to qualify.

However, the changes made by Sir Keir mean existing PIP claimants will now be exempted from the stricter new criteria.

Alterations to Universal Credit, another type of benefit, mean that the health top-up will only be cut and frozen for new applications, as opposed to existing ones.

Read more:
What are the concessions to the welfare bill – and will MPs back it?
Welfare has been Starmer’s most damaging U-turn yet

Mr Streeting declined to say whether he thought those who decide to vote against the bill should lose the party whip, which would force them to sit as an independent MP in the Commons.

He said it was “not my decision”, but added that there was an “expectation that Labour MPs vote for the whip”.

In a series of interviews over the weekend, the prime minister acknowledged there had been some mishandling of the welfare debate and said he was “heavily focused” on world affairs before he was forced to U-turn on his welfare bill.

In a piece in The Sunday Times, Sir Keir said he was occupied with the G7 and NATO summits and the escalating tensions in the Middle East for much of the past two weeks.

“Getting it right is more important than ploughing on with a package which doesn’t necessarily achieve the desired outcome,” he said, adding that all the decisions made were his and that “I take ownership of them”.

Continue Reading

Politics

MEV bot trial ends in mistrial after jury deadlock on brothers’ verdict

Published

on

By

MEV bot trial ends in mistrial after jury deadlock on brothers’ verdict

A New York jury was unable to reach a verdict in the case of Anton and James Peraire-Bueno, the MIT-educated brothers accused of fraud and money laundering related to a 2023 exploit of the Ethereum blockchain that resulted in the removal of $25 million in digital assets.

In a Friday ruling, US District Judge Jessica Clarke declared a mistrial in the case after jurors failed to agree on whether to convict or acquit the brothers, Inner City Press reported.

The decision came after a three-week trial in Manhattan federal court,  resulting in differing theories from prosecutors and the defense regarding the Peraire-Buenos’ alleged actions involving maximal extractable value (MEV) bots.

A MEV attack occurs when traders or validators exploit transaction ordering on a blockchain for profit. Using automated MEV bots, they front-run or sandwich other trades by paying higher fees for priority.

In the brothers’ case, they allegedly used MEV bots to “trick” users into trades. The exploit, though planned by the two for months, reportedly took just 12 seconds to net the pair $25 million.

In closing arguments to the jury this week, prosecutors argued that the brothers “tricked” and “defrauded” users by engaging in a “bait and switch” scheme, allowing them to extract about $25 million in crypto. They cited evidence suggesting that the two plotted their moves for months and researched potential consequences of their actions. 

“Ladies and gentlemen, bait and switch is not a trading strategy,” said prosecutors on Tuesday, according to Inner City Press. “It is fraud. It is cheating. It is rigging the system. They pretended to be a legitimate MEV-Boost validator.” 

Related: MEV bot exploit heads to US court, testing crypto’s legal gray zones

In contrast, defense lawyers for the Peraire-Buenos pushed back against the US government’s theory of the two pretending to be “honest validators” to extract the funds, though the court ultimately allowed the argument to be presented to the jury.  

“This is like stealing a base in baseball,” said the defense team on Tuesday. “If there’s no fraud, there’s no conspiracy, there’s no money laundering.”