Labour will promise to deliver the biggest shake-up to rail “in a generation” by establishing the long-delayed Great British Railways (GBR) organisation and bringing routes back into public ownership.
Making the announcement in a speech on Thursday, shadow transport secretary Louise Haigh will also pledge to establish a “best-price ticket guarantee” for travellers, offer automatic “delay repay” schemes and make digital season tickets available across the network.
But the proposals have been attacked by the Conservatives, who claim Labour has no plan to pay for them.
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GBR was first proposed in 2021 after a review of the railways, with the aim of simplifying the franchise system and rebuilding passenger numbers after they fell dramatically during the pandemic.
The proposed public body promised to subsume Network Rail’s responsibility for track and stations, as well as taking charge of ticketing, timetables and network planning.
But despite getting backing from Boris Johnson and his ministers, its establishment has faced continuous delays and the organisation yet to see the light of day.
Image: Boris Johnson backed the creation of Great British Railways in 2021. Pic: PA
Labour is now pledging to get GBR up and running if they win the next election, with some additional pledges of their own.
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The party said the body, which would be run by industry experts rather than government officials, would end the “fragmentation, waste [and] bureaucracy” of the current network.
And it would “stop profits leaking out to private operators” by taking charge of passenger lines when franchises run out – leading eventually to the whole passenger network being publicly owned.
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Labour said this method would prevent taxpayers from having to cover any compensation to the operators that would be due if they renationalised the railways immediately.
Image: Shadow transport secretary Louise Haigh will outline Labour’s plans on Thursday. Pic: PA
The party also pledged to create a new independent watchdog called the Passenger Standards Authority to ensure GBR keeps up its standards.
And it committed to introducing a statutory duty on GBR to promote the use of rail freight – still owned by private firms – to cut carbon emissions and reduce lorry traffic.
Ms Haigh said: “With Labour’s bold reforms, a publicly owned railway will be single-mindedly focused on delivering for passengers and will be held to account on delivering reliable, safe, efficient, accessible, affordable and quality services.
“Labour’s detailed plans will get our railways back on track; driving up standards for passengers, bringing down costs for taxpayers, driving growth and getting Britain moving.”
The proposals have won the backing of Keith Williams – one of the experts behind the rail review – who recommended the creation of GBR three years ago.
He said its creation would “deliver a better railway for passengers and freight”, adding: “Running a better railway and driving revenue and reducing costs will deliver economic growth, jobs and housing by delivering better connectivity.”
But the Conservative rail minister Huw Merriman attacked Labour’s plans as “pointless, unfunded rail nationalisation that will do nothing to improve train reliability or affordability for passengers”, adding: “Without a plan to pay for this, it means one thing – taxes will rise on hard-working people.”
His criticism was backed up by Rail Partners chief executive Andy Bagnall – representing private operators – who said while train companies “agree that change is needed… nationalisation is a political rather than a practical solution which will increase costs over time”.
The US Securities and Exchange Commission has dismissed cryptocurrency cases under the Trump administration at a significantly higher rate than those involving other aspects of securities laws.
According to a Sunday report from The New York Times, since US President Donald Trump took office in January, the SEC has paused, dropped investigations related to or dismissed about 60% of cases involving companies and projects in the cryptocurrency industry. The report cited high-profile cases, including the SEC’s lawsuits against Ripple Labs and Binance, adding that the financial regulator was “no longer actively pursuing a single case against a firm with known Trump ties.”
The SEC told The New York Times that political favoritism had “nothing to do” with its crypto enforcement strategy, and the shift to dismiss investigations and cases was for legal and policy reasons. The news outlet also noted that it had found no evidence suggesting that Trump had pressured the agency to drop investigations or cases.
“[T]he idea that the regulatory pivot on crypto over the last year is somehow because of the president’s personal interest, and not because the prior regulatory posture was absolutely insane,” said Alex Thorn, head of firmwide research at Galaxy Digital, in response to The New York Times report. ”[It] is dishonest framing that ignores 4 years of direct attacks by the actual partisans.”
Trump family entities have significantly expanded their involvement in the digital asset industry in 2025, with entities linked to the president or his family participating in several cryptocurrency-related projects, including World Liberty Financial, Trump’s memecoin, Official Trump (TRUMP) and the president’s sons’ Bitcoin (BTC) mining venture, American Bitcoin.
Remaining Democratic SEC commissioner set to leave agency in weeks
Though the SEC’s Paul Atkins will likely remain chair of the commission for years, the agency is set to lose the final Democratic member on its leadership after her term expired in 2024.
In January, Caroline Crenshaw is expected to depart the SEC, having served 18 months beyond the expiration of her initial term. At the time of publication, Trump had not announced any potential replacements for Crenshaw or for the other empty Democratic seat at the regulatory agency.
In contrast to Atkins and other Republican commissioners, Crenshaw has been publicly critical of the agency’s approach to digital assets under the Trump administration. In one of her final public appearances as the agency’s commissioner last week, Crenshaw said loosening regulations on crypto could ”lead to more significant market contagion.”
Specialist investigation teams for rape and sexual offences are to be created across England and Wales as the home secretary declares violence against women and girls a “national emergency”.
Shabana Mahmood said the dedicated units will be in place across every force by 2029 as part of Labour’s violence against women and girls (VAWG) strategy due to be launched later this week.
The use of Domestic Abuse Protection Orders (DAPOs), which had been trialled in several areas, will also be rolled out across England and Wales. They are designed to target abusers by imposing curfews, electronic tags and exclusion zones.
The orders cover all forms of domestic abuse, including economic abuse, coercive and controlling behaviour, stalking and ‘honour’-based abuse. Breaching the terms can carry a prison term of up to five years.
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Govt ‘thinking again’ on abuse strategy
Nearly £2m will also be spent funding a network of officers to target offenders operating within the online space.
Teams will use covert and intelligence techniques to tackle violence against women and girls via apps and websites.
A similar undercover network funded by the Home Office to examine child sexual abuse has arrested over 1,700 perpetrators.
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Abuse is ‘national emergency’
Ms Mahmood said in a statement: “This government has declared violence against women and girls a national emergency.
“For too long, these crimes have been considered a fact of life. That’s not good enough. We will halve it in a decade.
“Today, we announce a range of measures to bear down on abusers, stopping them in their tracks. Rapists, sex offenders and abusers will have nowhere to hide.”
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Angiolini Inquiry: Recommendations are ‘not difficult’
The government said the measures build on existing policy, including facial recognition technology to identify offenders, improving protections for stalking victims, making strangulation a criminal offence and establishing domestic abuse specialists in 999 control rooms.
But the Conservatives said Labour had “failed women” and “broken its promises” by delaying the publication of the violence against women and girls strategy.
Shadow home secretary Chris Philp said that Labour “shrinks from uncomfortable truths, voting against tougher sentences and presiding over falling sex-offender convictions. At every turn, Labour has failed women”.
Home Secretary Shabana Mahmood will be on Sunday Morning with Trevor Phillips on Sky News this morning from 8.30am.
The United States Securities and Exchange Commission (SEC) published a crypto wallet and custody guide investor bulletin on Friday, outlining best practices and common risks of different forms of crypto storage for the investing public.
The SEC’s bulletin lists the benefits and risks of different methods of crypto custody, including self-custody versus allowing a third-party to hold digital assets on behalf of the investor.
If investors choose third-party custody, they should understand the custodian’s policies, including whether it “rehypothecates” the assets held in custody by lending them out or if the service provider is commingling client assets in a single pool instead of holding the crypto in segregated customer accounts.
The Bitcoin supply broken down by the type of custodial arrangement. Source: River
Crypto wallet types were also outlined in the SEC guide, which broke down the pros and cons of hot wallets, which are connected to the internet, and offline storage in cold wallets.
Hot wallets carry the risk of hacking and other cybersecurity threats, according to the SEC, while cold wallets carry the risk of permanent loss if the offline storage fails, a storage device is stolen, or the private keys are compromised.
The SEC’s crypto custody guide highlights the sweeping regulatory change at the agency, which was hostile to digital assets and the crypto industry under former SEC Chairman Gary Gensler’s leadership.
The crypto community celebrates the SEC guide as a transformational change in the agency
“The same agency that spent years trying to kill the industry is now teaching people how to use it,” Truth For the Commoner (TFTC) said in response to the SEC’s crypto custody guide.
The SEC is providing “huge value” to crypto investors by educating prospective crypto holders about custody and best practices, according to Jake Claver, the CEO of Digital Ascension Group, a company that provides services to family offices.
SEC regulators published the guide one day after SEC Chair Paul Atkins said that the legacy financial system is moving onchain.
On Thursday, the SEC gave the green light to the Depository Trust and Clearing Corporation (DTCC), a clearing and settlement company, to begin tokenizing financial assets, including equities, exchange-traded funds (ETFs) and government debt securities.