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Sacking Suella Braverman means “suicide” for the Tory party and Rishi Sunak has just “thrown the election away” according to leaked WhatsApp messages between members of a grassroots Conservative organisation leaked to Sky News.

Members of the Conservative Democratic Organisation (CDO), a momentum-style group created out of frustration at the ousting of Boris Johnson and Liz Truss and backed by Priti Patel, called on Tory MPs to submit letters of no confidence in Rishi Sunak after Monday’s reshuffle.

Conversations between CDO members on Monday reveal they believe “Sunak has committed political suicide” and “the cabinet is pretty much the exact opposite of what we voted for in 2019” while another asks “is it April Fool’s day???”

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The CDO, whose president is Lord Peter Cruddas, aims to change the rules of the Tory party to give the membership a bigger voice in its running.

Sky News has seen messages from regional WhatsApp groups where CDO members give their views on the reshuffle. Many, but not all, are Conservative members, and almost none are nationally recognisable figures so are not being named by Sky News.

These views are not representative, therefore, of the whole Tory membership, but represent a slice of Conservative thinking inside and outside the party. It chimes with some Tory MPs on the right who believe the reshuffle will bolster Reform UK, the right-wing party created from the Brexit Party.

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In the South East CDO group, one contributor calls the appointment of David Cameron a “very weak decision”, another calls it the “undoing of the party” and a third says “FFS”.

One says “the only good news would be if Kemi [Badenoch, business secretary] replaces [Chancellor Jeremy] Hunt but I can’t see it”.

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WhatsApp messages sent by angry Tory supporters

Some in relation to Cameron refer to conspiracy theories about an elite in Davos controlling the world.

“His biggest regret was Brexit, even though he was always a eurosceptic. Why? Because it robbed him of post PM £s on the Davos circuit. He’s back to redeem himself under Davos darling Nutsak”. “Nutsak” is an occasional nickname for Sunak in this group.

“I’ve not been this angry since Boris was forced out”, says one.

In the same group, they respond to the sacking of Ms Braverman as home secretary with dismay.

“I call on Conservative MPs to submit their VoNC [vote of no confidence] letters to the 1922 [Committee]. Rishi Sunak & his out-of-touch squad, must be outed from No10,” said one. Later that day, Tory MP Andrea Jenkyns did submit such a letter.

“Is Suella a member of the CDO?” asks one. “How can we help her and thereby help ourselves and our country? I am really unhappy about this… Let’s push for letters to go in.”

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Richard Holden’s appointment as party chairman is also the source of dismay because he is seen as close to Mr Sunak.

“Apparently an ex CCHQ staffer, otherwise known as a full commitment to the lunatics taking over the asylum,” one said.

Read the full exchanges below.

CDO SOUTH EAST

[08:39] Activist 1: Reshuffle starting now…

[08:40] Activist 1: Suella has just been sacked. The end of the Conservative party

[08:40] Activist 2: Harry Cole was reporting that it was expected because of the vague agenda for today.

[08:42] Activist 2: Let’s hope it’s the beginning of the end for Sunak

[08:4?] Activist 2: He’s now jumping to the bark of Labour

[08:45] Activist 3: If Suella has been sacked, then he should go. Is Suella a member of CDO? How can we help her and thereby help ourselves and our country? I am really unhappy about this.

[08:46] Activist 2: Now it’s time for the backbenchers to put up.

[08:46] Activist 3: Let’s push for the letters to go in.

[08:46] Activist 4: He is demonstrating he is a follower not a leader.

[08:47] Activist 2: It’s so weak. Even if he wanted to sack her he shouldn’t indulge in the left

[08:47] Activist 3: An unelected one at that. Disgraceful.

[08:47] Activist 5: Suella has been sacked – it’s on the news websites now.

[08:50] Activist 6: I call on Conservatives Mp’s to submit their VoNC letters to the 1922. Rishi Sunak & his out-of-touch squad, must be ousted from NO.10. To those few are still members, please write your Association(s). #Ready4Rishi2Go

[08:58] Activist 7: Sunak & he party is sunk. They’ve backed the wrong horse(s)

[08:59] Activist 2: Cleverly as HS

[09:00] Activist 8 : Not sure what he was thinking, she can do more damage to him on the backbenches! Thanks for that was about to write to Cleverly about a matter abroad!

CDO SOUTH WEST

[08:41] Activist 1: Suella has been sacked

[08:41] Activist 2: What an idiot!

[08:42] Activist 3: Activist Sunak got to go

[08:42] Activist 4: Well on the bright side Suella is free now to replace him when the time comes…

[08:43] Activist 5: It’s nothing like the party I joined in the 1970’s when we had a clear vision and direction. My MP doesn’t share many of my Conservative principles sadly like many of his colleagues.

[08:43] Activist 6: I think this trigger for letters to go in

[08:51] Activist 6: Tell your MP’s!

[08:54] Activist 5: Just sent an email to my MP

[08:57] Activist 6: Great yes pile on everyone

[10:13] Activist 2: There are no pliable MPs left for Sunak and his squad to call upon. What an utter clown show. What now Activist 6?

[10:15] Activist 6: Now letters must go in and Sunak replaced urgently. We could have a leadership election in 3 weeks including limited hustings and members vote.

[10:16] Activist 7: Do you think there are enough MPs with a backbone to do it though?

CDO LONDON

[07:08] Activist 1: The current Tory government

Rishi Sunak: Stabbed the one person who gave him a top job, rejected by us, done nothing in the year he’s been the cuckoo prime minister, rejected by the people according to the pills.

Hunt: Rejected by us 4 times and disliked by the people according to the polls.

Cameron: Didn’t like the result of a democracy so ran away and let down his constituency by resigning. Got caught being a naughty man.

Did I miss anything? :/

[08:42] Activist 2: He’s sacked Suella! He’s on a suicide mission for the party!

[08:43] Activist 3: Sunak has committed political suicide

That being said, I’m sure this is a positive step towards a Bravermen leadership.

[08:45] Activist 4: Time for the letters to go in! Let’s see what mess is made of reshuffle too.

[08:49] Activist 2: I’m furious.

[08:49] Activist 2: He is no Politician. He doesn’t understand that the Tory faithful are pretty much only still faithful because of Suella.

[08:52] Activist 2: I’m a party member, I’ve always voted Tory. I’m active in the local association and I am really struggling with the idea of voting for them at the next GE. Sorry, but they need a kicking.

[08:52] Activist 3: I would be furious if I wasn’t rather excited to watch Sunak’s unravelling and a (potential) leadership bid by Suella.

Rishi has signed his political death warrant, and Suella will be back – so the situation is bittersweet.

[09:50] Activist 5: This is just awful.

[09:50] Activist 5: Sunak is not even a Tory

[09:50] Activist 5: MPs: Get him out NOW!

[09:50] Activist 2: I’m so angry I can’t focus on work.

[10:13] Activist 6: I feel the same, I’m furious. Just watched the idiots on GB News saying Suella was out of control. She was the first minister in years I actually felt was a real Conservative with genuine Conservative values. I hope she runs for leadership and kicks Sunak to touch.

[10:19] Activist 2: This cabinet is pretty much the exact opposite of what we voted for in 2019.

[10:44] Activist 7: If she does and gets voted in overwhelmingly by the membership, the snakes will oust her, ignore us all and install another puppet!

[10:45] Activist 8: It’s 10:45.

What’s the delay in those letters to Sir Graham? There’s not a postal strike is there?

[10:45] Activist 9: Exactly, as we are unfortunately accustomed to.

[13:15] Activist 10: I see the ‘one nation’ tories are full of glee today.

[13:34] Activist 11: They won’t be after next year’s general election results.

[13:36] Activist 11: Although saying that, they might actually be gleeful, since they seem so hellbent on causing as much reputational damage to the party as possible.

CDO YORKSHIRE & HUMBER

[10:12] Activist 1: I can’t believe it. Suella sacked and Cameron in as foreign secretary!

[10:13] Activist 1: Is it April fools day????

[10:14] Activist 2: Incredible – has just thrown the election away! I bet Starmer sends him a crate of champagne to thank him! We need to get off our bums and write in and voice our anger.

[11:08] Activist 3: I wonder who made him sack her? Dr. No or another member of the cabal really running the country? Looks like time to quit the party for me.

[11.10] Activist 4: Stay as a member. You will have more influence in the future.

[11:10] Activist 5: It’s not our party anymore… It hasn’t been for a while.

[11:10] Activist 3: Exactly true!

[11:16] Activist 6: I’m not quitting. I want the satisfaction of being involved in rebuilding once these people have moved on. Unfortunately unless the backbenchers grow a pair we are going to have to go a few years of socialism in order to move them on .

[11:18] Activist 7: A few years? We’ll never get into power again… Votes will be opened up to 16 year olds, non-British nationals too.. We’ll then have another referendum and be back under the globalists boot. Democracy will be dead, and this party with its blatant corruption, enabled it.

[11:39] Activist 8:v I heard they’re going to change the membership vote for PM, just in case we have the audacity of not choosing the right person. It breaks my heart to say this, but the conservative party, that I’ve supported for years, is well and truly finished. A vote for this shower is a wasted vote.

[11:43] Activist 9: Will Cameron become leader?

[13:24] Activist 9: Hague orchestrated Cameron. It’s to stop a Boris or Farage come back.

[13:26] Activist 9: We need to split.

[13:38] Activist 9: Right wing members of 2 groups meeting this afternoon. Let’s see the letters but i think we need a breakaway.

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Budget 2025: Hospitality pleads for ‘lifeline’ as Rachel Reeves accused of imposing ‘stealth tax’

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Budget 2025: Hospitality pleads for 'lifeline' as Rachel Reeves accused of imposing 'stealth tax'

Rachel Reeves has been accused of failing to “support the great British pub” as she promised in the budget, with owners facing skyrocketing business rates bills.

In her speech in the House of Commons on Wednesday, the chancellor said she was backing small businesses by introducing “permanently lower tax rates for over 750,000 retail, hospitality and leisure properties – the lowest tax rates since 1991”.

But while the government gave itself the powers to discount the business rates bills for high street businesses through legislation earlier this year, the chancellor only implemented a reduction of a quarter of what the government is able to, and she is being accused of imposing a “stealth tax”.

It has left small retail, hospitality, and leisure businesses questioning whether their businesses will be viable beyond April next year.

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Sky’s Ed Conway looks at the aftermath of the budget and explains who the winners and losers are.

A Treasury spokesperson said: “We’re protecting pubs, restaurants and cafes with the budget’s £4.3bn support package – capping bill rises so a typical independent pub will pay around £4,800 less next year than they otherwise would have.

“This comes on top of cutting licensing costs to help more venues offer pavement drinks and al fresco dining, maintaining our cut to alcohol duty on draught pints, and capping corporation tax.”

Business rates, which are a tax on commercial properties in England and Wales, are calculated through a complex formula of the value of the property, assessed by a government agency every three years, combined with a national “multiplier” set by the Treasury, giving a final cash amount.

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Chancellor Rachel Reeves has been accused of imposing a "stealth tax" on hospitality businesses. Pic: PA
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Chancellor Rachel Reeves has been accused of imposing a “stealth tax” on hospitality businesses. Pic: PA

Over the last few years, small businesses were given business rates relief of 75% to support them over the COVID pandemic, and Ms Reeves reduced that to 40% at last year’s budget.

The idea was that at the budget this year, the chancellor would remove that remaining relief in favour of reforming the business rates system to compensate for that drop, while shifting the tax burden on to much bigger businesses and companies like Amazon with lots of warehouse space.

However, the chancellor only announced a 5p in the pound discount for small retail, hospitality, and leisure businesses, rather than the assumed 20p drop which the government gave itself the powers to implement, and which trade bodies had been lobbying for.

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How will your personal finances change following the budget announced by the chancellor?

On top of that, small businesses have seen the government-assessed value of their property increase dramatically, which wipes out the discount, and sees their business rates bill shoot far above what they had previously been paying.

One pub owner near Hull, Sam Caroll, has seen the assessed value of one of his two properties increase from £67,000 to £110,000 in just three years – a 64% increase.

He told Sky News that there is a “continual question” of business viability, and while he thinks they can “adapt” in the short term, “there will be a tipping point at some point”. Even at the moment, packing out their pubs seven nights a week, “it’s difficult for us to break even”, he said.

There will be a discount for small businesses to transition to the higher business rates level, but by year three, almost the full amount is expected to be payable, and Mr Carroll described it as “getting f***** slowly, instead of getting f***** overnight”.

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Sean Hughes, who owns multiple hospitality venues in St Albans, has also seen vast increases in the assessed value of his properties, and was sharply critical of the transitional arrangements the government is implementing.

He told Sky News: “Fundamental business rate reform was promised and we have total chaos. If [the system] was fair, why would they need transitional relief periods?”

A spokesperson of the Valuation Office Agency (VOA), which assesses the value of commercial properties for business rates purposes, told Sky News: “At the last revaluation, some sectors including hospitality were significantly affected by the pandemic, which resulted in much lower rateable values than they would have seen otherwise. Businesses that have now seen a recovery in trade are also likely to see an increase in their rateable value.”

Read more:
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Budget is a big risk for Labour’s election plans

However, Sky News has seen evidence of businesses whose assessed value did not decrease when assessed during the pandemic, but actually rose, and has risen dramatically this year.

Data compiled by the Pubs Advisory Service, shows that the number of pubs in the UK has decreased by nearly 5% in three years, but the average value of the properties has risen by an average of 36.82% per pub.

And analysis by UK Hospitality, the trade body that represents hospitality businesses, has found that over the next three years, the average pub will pay an extra £12,900 in business rates, even with the transitional arrangements, while an average hotel will see its bill soar by £205,200.

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The prime minister has defended the budget after he and the chancellor were accused of breaking their promise to voters.

The body adds that by 2028/29, an average pub’s business rates will have increased by 76% and an average hotel’s by 115%, compared to 16% for a distribution warehouse like the ones the web giants use.

It’s not just the business rates rise that is worrying owners – it is the increase in employers’ national insurance implemented at the last budget, the increase in energy bills over the last few years, and the rise in the minimum wage, particularly for young people.

With the budget set to squeeze disposal income, there is little room for price increases to make up the shortfall either.

In a letter to the chancellor on Friday, Liberal Democrat deputy leader Daisy Cooper said small business owners “have been pushed to tears as they’re hit with the bombshell of higher business rates bills”, noting that “the government has chosen not to use the full powers it gave itself to throw high streets a lifeline”.

She added that businesses had been promised “permanently lower business rates”, but it appears the government has “broken yet another promise, by imposing a stealth tax not just on people, but on treasured high street businesses too”, and called on ministers to “throw our high streets and Britain’s hospitality sector a lifeline”.

Conservative shadow business secretary Andrew Griffith published his own analysis of the government’s budget measures on Friday morning, that found they will “hammer British pubs”.

Of the chancellor, he said: “She pretended in her budget speech to be supportive, whilst the true detail is that a combination of rate revaluations and scrapping reliefs will leave most pubs paying thousands of pounds more than they cannot afford.”

Kate Nicholls, Chair of UKHospitality, said in a statement: “The government promised in its manifesto that it would level the playing field between the high street and online giants. The plan in the budget to achieve this is quickly unravelling, and will deliver the exact opposite.”

She said they “repeatedly warned the Treasury” of the impending impacted of the value reassessment, but nonetheless, hospitality businesses are now facing “eye-watering increases”.

She added: “We agree with its reforms to deliver permanently lower business rates for hospitality and we appreciate the package of transitional relief, but its current proposal is not delivering lower bills. A 20p discount for hospitality would. We urge the chancellor to revisit.”

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Polymarket puts December rate-cut odds at 87% as crypto stocks climb

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Polymarket puts December rate-cut odds at 87% as crypto stocks climb

Several crypto-linked stocks climbed on Friday as prediction-market odds of a December rate cut surged to 87% on Polymarket, the highest level this month.

Three US-listed Bitcoin miners led the rally, with Cleanspark, Riot Platforms and Cipher Mining all rising in the session and showing double-digit gains over the past five days.

Federal Reserve, United States, Predictions
Probability of a US rate cut in December. Source: Polymarket

Yahoo Finance data showed Circle, the issuer of USDC, jumped nearly 10% in early trading, while Michael Saylor’s Strategy and Coinbase notched more modest increases at the time of writing.

Bitcoin (BTC) was also up around 7% on the week, after dropping to around $82,000 on Nov. 21, according to CoinGecko data.

Federal Reserve, United States, Predictions
Top 10 Bitcoin mining stocks. Bitcoin Mining Stock

Much of the volatility in prediction-market pricing this month has been driven by comments from Federal Reserve officials. 

On Oct. 29, Fed Chair Jerome Powell said a December cut was “not a foregone conclusion,” a remark investors took as hawkish — which means the Fed could delay rate cuts and keep conditions tight. Polymarket odds slipped from 89% the day before to as low as 22% by Nov. 20.

Sentiment shifted on Nov. 17 after Fed Governor Christopher Waller said the central bank should consider cutting rates next month, arguing that “the labor market is still weak and near stall speed” and that inflation is now “relatively close” to the Fed’s 2% target.

Related: Kalshi, Polymarket traders bet Supreme Court will curb Trump’s tariff powers

Prediction markets expand as demand surges

Prediction markets, such as Kalshi and Polymarket, which enable bettors to wager on the outcomes of real-world events, have expanded their reach and influence this year.

On Nov. 13, Polymarket inked a multi-year agreement with TKO Group Holdings to serve as the official prediction-market partner for the Ultimate Fighting Championships and Zuffa Boxing. The partnership came shortly after it partnered with North American fantasy sports operator PrizePicks.

The same month, Kalshi raised $1 billion from Sequoia Capital and CapitalG, pushing its valuation to $11 billion, according to a TechCrunch report citing a person familiar with the deal. The new round followed a $300 million raise in October.

On Nov. 19, rumors emerged that Coinbase is developing its own prediction-market platform after tech researcher Jane Manchun Wong posted screenshots of an unreleased site. Wong’s images indicated the product would be offered through Coinbase Financial Markets and backed by Kalshi.

Federal Reserve, United States, Predictions
Source: Jane Manchun Wong

On Wednesday, Robinhood said prediction markets have quickly become one of its fastest-growing revenue drivers, with more than one million users trading nine billion contracts since the product launched in March through a partnership with Kalshi.

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice