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It’s “lunacy”, “facile and divisive self-indulgence”, “ludicrous” and a “circular firing squad”. Just some of the attacks on Sir Simon Clarke after his “Rishi must go” outburst.

His incendiary attack is either a one-man kamikaze mission or the start of a new mutiny by right-wing Tory MPs. So far, however, it’s looking more kamikaze than mutiny.

True, the Middlesbrough South and East Cleveland MP – one of Liz Truss’s leading lieutenants – was one of the 11 rebels in the third reading of the Rwanda bill last week.

But he doesn’t have a reputation as being one of the craziest of the right-wingers and his blistering onslaught against the prime minister in The Daily Telegraph has stunned MPs of all parties.

Politics latest: Reaction to Clarke’s call for PM to go

It’s also true that he was one of the Conservative MPs who submitted a vote of no confidence in Theresa May’s leadership in 2018. So he’s got form as a political assassin.

But even some of Mr Sunak’s harshest critics will regard some of his language in his Telegraph article as grossly over the top and view his act of treachery as total madness.

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Where his arguments appear deeply flawed are where he quotes at length the Telegraph’s YouGov MRP poll last week predicting a Tory wipeout on the scale of the Tony Blair landslide in 1997.

That poll, however, has been strongly criticised – not least by the pollsters YouGov, who claimed the Telegraph had distorted its findings – and the Tories’ election guru Isaac Levido told Conservative MPs last week to ignore it.

And some of Sir Simon’s claims, surely, are wide of the mark. Tories out of power for a decade? Really? Extinction if Nigel Farage comes back? Apocalyptic, to say the least.

Rishi Sunak – uninspiring and the main obstacle to recovery, gone from asset to anchor? And then this wounding blast: “He does not get what Britain needs. And he is not listening to what the British people want.”

Those are the sort of criticisms the prime minister gets from the Labour Party. No wonder the furious reaction of senior colleagues is that Sir Simon – knighted in Liz Truss’s resignation honours – is doing Labour’s work for them.

A change of leader and the Tories would recover strongly this year, he claims. That surely has got to be one of his more preposterous claims. He even acknowledges that many MPs will claim the party would look ridiculous.

But “meekly sleepwalking towards an avoidable annihilation” would be more ridiculous, he writes. Changing leader would give the party a fighting chance, he claims.

Well, the only fighting that’s going on is between Conservative MPs. No wonder sensible senior figures like Damian Green, Sir Liam Fox, Dame Priti Patel and Sir David Davis have denounced and disowned him.

Is Sir Simon proposing to stand as a stalking horse in a leadership contest, like Sir Anthony Meyer against Margaret Thatcher in 1989, in what was the beginning of the end for her premiership?

Would he attract much support? Unlikely. So far, there doesn’t appear to be the appetite among Tory MPs for a mutiny. Which – so far – leaves Sir Simon exposed as a one-man kamikaze squad.

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Chancellor Rachel Reeves dodges wealth tax calls from predecessor

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Chancellor Rachel Reeves dodges wealth tax calls from predecessor

Chancellor Rachel Reeves has dodged calls from her predecessor Anneliese Dodds for a wealth tax to be considered ahead of this autumn’s budget.

When Sir Keir Starmer became Labour leader in 2020, Ms Dodds was his first pick for shadow chancellor. However, she did not last long and was replaced by Ms Reeves, who then got the government job after last year’s election win.

Speaking to the Sky News political editor Beth Rigby on the Electoral Dysfunction podcast, Ms Dodds said she had examined wealth taxes when she was briefly in the shadow chancellor job and how one could be implemented.

She said: “I would hope the Treasury is considering that kind of evidence, as well as other changes that have been put forward.”

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‘Rachel Reeves would hate what you just said’

Asked today if about Ms Dodds’ intervention, Ms Reeves said: “Decisions around tax are decisions that are made at a budget and we’ll make those decisions in the appropriate way, but the number-one priority of this government is to grow the economy.

“And that means bringing more investment into Britain, creating more good jobs paying decent wages here in Britain.

Listen here to hear Ms Dodds’ full comments:

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“We’ve got to get the balance right on taxation because we want that investment, we want those jobs to come here.

“That’s why we’re reforming the planning system, secured three trade deals in the first year of this Labour government, cutting back on unnecessary regulation, and reforming our pension system to unlock money for businesses to be able to invest here in the UK.”

Read more:
2021: Dodds demoted, Reeves promoted
Dodds resigns from govt over aid cut

What is a wealth tax?

The government’s financial position is stretched ahead of the next budget, due at the end of autumn.

Ms Reeves has committed herself to not changing her fiscal rules, leaving little wiggle room to avoid tax rises or spending cuts.

This is due to the government’s inability to save money through policies like welfare reform, which were gutted due to a rebellion of backbench Labour MPs.

Last week, Business Secretary Jonathan Reynolds branded the suggestion of a wealth tax “daft” – but he has less influence over the writing of the budget than the chancellor.

Politics live: Tory MP calls for more deportations

Meanwhile, reports from the Daily Telegraph suggested that Deputy Prime Minister Angela Rayner backed increasing taxes, including reinstating the pensions lifetime allowance and a higher corporation tax level for banks.

Ms Dodds also wants to see those considered.

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UK regulator lifts ban on crypto ETNs for retail investors

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UK regulator lifts ban on crypto ETNs for retail investors

UK regulator lifts ban on crypto ETNs for retail investors

After banning retail access to crypto ETNs and derivatives in 2021, the FCA has reversed its approach in favor of ETN access for retail.

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State of stablecoins after GENIUS Act: Expert weighs in

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State of stablecoins after GENIUS Act: Expert weighs in

State of stablecoins after GENIUS Act: Expert weighs in

Following the landmark US passage of the GENIUS Act, Fabian Dori of Sygnum Bank breaks down what lies ahead for stablecoins, institutional adoption and global crypto regulation.

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