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Liz Truss has revealed she considered abolishing the UK’s economic watchdog and replacing leaders at the Treasury and Bank of England, accusing the bodies of being “pro-China” and “pro-Remain”.

The country’s shortest serving prime minister said she discussed scrapping the Office for Budget Responsibility (OBR) with her Chancellor Kwasi Kwarteng but concluded it would have “amounted to a declaration of war on the economic establishment”.

In an extract from her memoir published by the Daily Mail, Ms Truss says the OBR, Treasury, and Bank of England “were more interested in balancing the books than growing the economy” and saw immigration “as a way of fixing the public finances”.

Defending her September 2022 mini-budget – which led to a surge in borrowing costs and saw the pound slump to a 37-year low against the dollar – the former prime minister said she would “accept that the communications around the mini-budget were not as good as they could have been”.

However, she said the afternoon after which Chancellor Kwasi Kwarteng outlined the growth plan was “probably my happiest moment as prime minister” adding “I was ecstatic”.

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Truss’ time as PM

Mr Kwarteng was sacked three weeks later amid rising mortgage costs, before most measures in the statement were axed in an attempt to stabilise financial markets.

Kwasi Kwarteng
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Kwasi Kwarteng was also sacked following the mini-budget. Pic: PA

The serialisation also includes behind-the-scenes details of domestic life as a senior government figure.

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While foreign secretary, Ms Truss says she was forced to share the grace-and-favour Chevening mansion in Kent with her predecessor Dominic Raab and would find “protein shakes labelled ‘Raab’ in the fridge”.

Anecdotes, complaints and lamentations – but a lack of self-awareness


Rob Powell Political reporter

Rob Powell

Political correspondent

@robpowellnews

Given Liz Truss is the shortest-serving prime minister in UK history and given she oversaw an economic meltdown and was forced to fire her own Chancellor and repeal most of her policy offering, the extracts of her memoirs are strikingly bereft of any self-criticism or self-awareness.

As the political blogger Sam Freeman has pointed, bits of the book feel like a ‘what I did on my holidays school essay’.

There’s amusing and eminently readable anecdotes about trying to get Ocado shops delivered to Downing Street, taking her children into the government nuclear bunker, and finding Dominic Raab’s protein shakes in the fridge at the foreign secretary’s country residence.

There’s also some complaining.

The former Prime Minister laments having to book her own hair and make up and says a lack of medical support meant her private secretary had to get her cough medicine in the middle of the night.

She says living in Downing Street was “intensely claustrophobic” and she was “effectively a prisoner”.

It’s an open question whether that stirs much sympathy with those who saw their mortgage rates soar during her chaotic 50 days in office.

Then there’s the now familiar defence of her economic strategy, which once again seems to consist of blaming everyone bar herself.

In four pages of text, I spotted just two flashes of introspection.

She acknowledges that the “communications around the mini-budget were not as good as they could have been”. But then neuters that mea culpa by adding: “But I have to ask: what would we have been waiting for?”

She also says the late Queen had told her to “pace yourself”, before adding “maybe I should have listened”.

Read more:
Truss ‘furious’ after MPs accused of blocking reform bill

The investigation into Angela Rayner hinges on one thing

The Norfolk MP is also critical of the levels of personal support offered to UK prime ministers saying “despite now being one of the most photographed people in the country, I had to organise my own hair and make-up appointments”.

She described the prime ministerial flat above the Number 10 offices as infested with fleas that some claimed came from her predecessor Boris Johnson’s dog Dilyn.

Ms Truss also revealed she and her husband had ordered new furniture for the residence “but were evicted before it could be delivered”.

The death of the Queen is also described in the extracts, with Ms Truss saying the fact it happened on her second full day as prime minister left her in a “state of shock” and thinking “Why me? Why now?”.

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New English language and UK citizenship requirements for migrants as part of government crackdown

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New English language and UK citizenship requirements for migrants as part of government crackdown

Migrants will have to live in the UK for a decade before they can apply for citizenship under plans to reduce reliance on foreign workers. 

The change from five to 10 years will come with exceptions for people who make a “high contribution” to the economy or society, who will able to be fast-tracked for permanent settlement rights.

It comes on top of new English language requirements across every visa route, which will extend to adult dependents for the first time.

The measures will be announced by Sir Keir Starmer today ahead of the Immigration White Paper, which will set out further reforms to bring net migration down.

At a press conference later, the prime minister will say: “This is a clean break from the past and will ensure settlement in this country is a privilege that must be earned, not a right.

“And when people come to our country, they should also commit to integration and to learning our language.

“Lower net migration, higher skills and backing British workers – that is what this White Paper will deliver.”

Net migration – the difference between the number of people immigrating and emigrating to a country – soared when the UK left the EU in January 2020.

It reached 903,000 in the year to June 2023 before falling to 728,000 in mid-2024. But that is still well above its pre-Brexit high of 329,000 in the year up to June 2015.

The government is under pressure to tackle legal migration, as well as illegal immigration, amid Reform UK’s surge in the polls.

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Reform: Immigration ‘should be frozen’

However, experts have questioned whether some of the changes announced by Sir Keir today will have much of an impact, at least in the short term.

Currently, migrants have to live in the UK for five years to get indefinite leave to remain, or “settled status” if they are from the EU. They can then use this to apply for British citizenship, usually 12 months after settlement.

There were 162,000 grants of settlement in 2024, up 35% from 2023, and 270,000 grants of citizenship in 2024, up nearly a third on the previous year.

‘Contributions-based’ citizenship model

The new “contributions-based model” means people must spend a decade in the UK before applying to stay, unless they can show a “real and lasting contribution to the economy and society”.

Sir Keir Starmer at a summit in Oslo. Pic: PA
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Sir Keir Starmer at a summit in Oslo. Pic: PA

The Home Office said this will include “high-skilled” and “high-contributing” individuals like nurses, doctors, engineers and AI leaders.

The details are still being fleshed out and will be put to consultation later this year rather than in the white paper, Sky News understands.

However, the thinking is that those who pay higher taxes or who work in a priority sector will be eligible to be fast-tracked. Home Secretary Yvette Cooper is also keen for discounts to apply to those who make an “outstanding contribution” to society, such as community leaders, it is understood.

English language requirements

The government also plans to raise English language requirements across every immigration route, so foreign workers speak a higher standard of English.

For the first time, this will also extend to all adult dependents by requiring them to demonstrate a basic understanding of English, which the government says will help people integrate and find employment.

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Dr Madeleine Sumption, director of the Migration Observatory at the University of Oxford, told Sky News that extending the amount of time people need to be in the UK to get permanent settlement rights is unlikely to significantly affect migration levels, as there is “no evidence” this affects their decision about whether to migrate.

Any impact would be seen in five to ten years, “when people get to that point of the visa journey”, she said, adding that the main effect of this policy would be to “bring in more visa-fee revenue to the Home Office” and “to make it harder for migrants to settle in”.

She said that language requirements “are more likely to have an impact on the number of visas granted”, as more than half of skilled worker visas over the past couple of years have gone to dependents.

“However, there’s no data on how many of them would have passed a language test so it is hard to say how big,” Dr Sumption added.

The Home Office has not put a figure on what sort of reduction these policies could achieve, with Ms Cooper to give more details in parliament on Monday afternoon.

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Minister reveals new immigration plans

On Sunday, she told Sky News’s Trevor Phillips that plans to close the care worker visa route and change the skilled visa threshold to require a graduate qualification would cut the number of overseas workers by about 50,000 this year.

Read More:
Labour’s shift on migration may assuage voters’ concerns – but risks impacting struggling care sector
Care workers plead for higher salaries amid recruitment crisis

However, she refused to put a target on the overall levels of net migration the government is aiming for, saying that approach “failed” under the Conservatives.

The Tories have admitted making mistakes in office, but are still calling for a binding immigration cap and want to repeal the Human Rights Act for immigration issues.

Shadow Home Secretary Chris Philp said Labour has “overseen the worst ever start to a year for illegal immigrants crossing the channel” adding: “The idea that Starmer is tough on immigration is a joke.”

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Stablecoin bill gets second chance with Northern Mariana lawmakers

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Stablecoin bill gets second chance with Northern Mariana lawmakers

Stablecoin bill gets second chance with Northern Mariana lawmakers

Tinian, a small island in the US territory of the Northern Mariana Islands, could get a second chance at launching a stablecoin after the territory’s Senate voted to override the governor’s earlier veto of its stablecoin bill.

On May 9, the Northern Mariana Islands Senate voted 7-1 to override Governor Arnold Palacios’ April 11 veto of the bill, which would allow the Tinian local government to issue licenses to internet casinos and includes a provision for the Tinian treasurer to issue, manage and redeem a “Tinian Stable Token.” 

The bill will now head to the 20-member Northern Mariana Islands House, which will need a two-thirds majority vote to override the veto and pass the bill into law.

If the House is quick to pass the bill, the Tinian government could be in the lead for the first US public entity to issue a stablecoin. It’s in a race against the state of Wyoming, which is aiming to issue a stablecoin by July.

Tinian is governed by the local government, the Municipality of Tinian and Aguiguan, and is one of four municipalities in the Commonwealth of the Northern Mariana Islands, a small US territory in the Pacific north of Guam. 

Tinian has just over 2,000 residents, and its economy heavily relies on tourism.

Senators push “much-needed” bill despite “deep concerns” 

Governor Palacios said in his letter last month that he vetoed the bill as it “presents several legal issues and may be unconstitutional” and would regulate an activity that could not “be clearly restricted” to Tinian.

Democrat Senator Celina Babauta, the only one to vote against overriding the veto, said before the vote that she had “deep concerns with respect to the lack of resources, the lack of manpower” to enforce the gambling law and police use of the stablecoin.

“We are restricted by federal statutes and must comply with that,” she added.

Stablecoin bill gets second chance with Northern Mariana lawmakers
Senator Celina Babauta (right) delivers remarks at a Senate hearing alongside Senator Karl King-Nabors (middle). Source: YouTube

“We struggle with trying to find creative and innovative ways to diversify our economy and our industries,” Babauta said. “I don’t believe that gambling is the only thing that we can be looking forward to every single time there’s an investor that comes in.”

However, Republican Senator Karl King-Nabors, who represents Tinian and co-authored the bill, said it was “a far more stringent and efficient way to oversee the online gaming aspect.”

“This stablecoin is tracked through software, and if anything, it allows for more transparency when it comes to the Tinian Casino Gaming Control Commission,” he added.

King-Nabors said the bill aligned with “much-needed” economic diversification measures, as the local economy was yet to bounce back from a COVID-19 pandemic-induced slump.

“This legislation stands at a time where we’re going through so much economic hardships,” King-Nabors added. “I find it difficult that we’re constantly having to step over obstacles when we’re trying to incentivize and look for ways to bring in revenue that don’t affect our environment, that don’t require a brick and mortar, that don’t impact our land.”

Tinian bids for fully-backed stablecoin

Republican Senator for Tinian, Jude Hofschneider, led the introduction of the bill in February, which aims to amend a local Tinian law to allow internet-only casino licenses, along with allowing the island to launch a fully backed US dollar-pegged stablecoin.

A four-member Tinian delegation to the Marianas legislature, which includes Hofschneider and King-Nabors, had passed the bill to Governor Palacios in a unanimous vote on March 12.

Statements shared with Cointelegraph in March said the stablecoin is called the Marianas US Dollar (MUSD) and will be backed by cash and US Treasury bills held in reserve by the Tinian Municipal Treasury.

The Tinian government chose tech services firm Marianas Rai Corporation, based in the Northern Mariana Islands’ capital of Saipan, as the exclusive infrastructure provider to issue and redeem MUSD.

MUSD is built on the eCash blockchain, a network that rebranded from Bitcoin Cash ABC in 2021 and is a fork of Bitcoin Cash, a blockchain that split off from Bitcoin in 2017.

Related: Senator Tim Scott slams partisan politics for failed stablecoin bill 

Marianas Rai Corp. co-founder and technology chief Vin Armani told Cointelegraph in April that it was “in active discussions with potential partners” about launching the token after Governor Palacios’ veto and was “poised to act quickly” as US Congress is looking to pass stablecoin laws.

In the US, one stablecoin bill, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, has since stalled in Congress after Senate Democrats pulled support for the bill due to concerns about President Donald Trump’s sprawling crypto ventures.

Another stablecoin-regulating bill in the House, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, has also lost Democrat support due to Trump’s crypto tie-ups.

Legal Panel: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight 

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‘More people should be given this chance’: The probation centres transforming offenders’ lives

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'More people should be given this chance': The probation centres transforming offenders' lives

The combination of full prisons and tight public finances has forced the government to urgently rethink its approach.

Top of the agenda for an overhaul are short sentences, which look set to give way to more community rehabilitation.

The cost argument is clear – prison is expensive. It’s around £60,000 per person per year compared to community sentences at roughly £4,500 a year.

But it’s not just saving money that is driving the change.

Research shows short custodial terms, especially for first-time offenders, can do more harm than good, compounding criminal behaviour rather than acting as a deterrent.

Charlie describes herself as a former "junkie shoplifter"
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Charlie describes herself as a former ‘junkie shoplifter’

This is certainly the case for Charlie, who describes herself as a former “junkie, shoplifter from Leeds” and spoke to Sky News at Preston probation centre.

She was first sent down as a teenager and has been in and out of prison ever since. She says her experience behind bars exacerbated her drug use.

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Charlie in February 2023
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Charlie in February 2023


“In prison, I would never get clean. It’s easy, to be honest, I used to take them in myself,” she says. “I was just in a cycle of getting released, homeless, and going straight back into trap houses, drug houses, and that cycle needs to be broken.”

Eventually, she turned her life around after a court offered her drug treatment at a rehab facility.

She says that after decades of addiction and criminality, one judge’s decision was the turning point.

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“That was the moment that changed my life and I just want more judges to give more people that chance.”

Also at Preston probation centre, but on the other side of the process, is probation officer Bex, who is also sceptical about short sentences.

“They disrupt people’s lives,” she says. “So, people might lose housing because they’ve gone to prison… they come out homeless and may return to drug use and reoffending.”

Read more from Sky News:
Care homes face ban on overseas recruitment
Woman reveals impact of little-known disorder

Charlie with Becks at the probation centre in Preston 
grab from Liz Bates VT for use in correspondent piece
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Bex works with offenders to turn their lives around

Bex has seen first-hand the value of alternative routes out of crime.

“A lot of the people we work with have had really disjointed lives. It takes a long time for them to trust someone, and there’s some really brilliant work that goes on every single day here that changes lives.”

It’s people like Bex and Charlie, and places like Preston probation centre, that are at the heart of the government’s change in direction.

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