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The results of the next general election are not a “foregone conclusion” according to Rishi Sunak, after his party’s slate of defeats in the local elections.

The prime minister was speaking off the back of analysis of the results conducted by Sky News which indicated the country was heading towards a hung parliament.

This projection, however, does not account for Labour now being the most popular party in Scotland, nor does it recognise that people are less likely to vote for an independent or small party in a Westminster election when compared to council seats.

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Speaking from a charity in north London, Mr Sunak said: “Well, the independent analysis shows whilst of course, this was a disappointing weekend for us, that the result of the next general election isn’t a foregone conclusion and indeed actually is closer than the situation is closer than many people are saying.”

Mr Sunak also paid tribute to the almost 500 Tory councillors who were unseated over the weekend, as well as West Midlands mayor Andy Street.

“Well, obviously disappointing to lose Conservative councillors and a fantastic mayor for the West Midlands in Andy Street,” the prime minister said.

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“And I’m grateful to them for their public service and all their hard work.

“For my part, reflecting on it, I’m determined more than ever to demonstrate to the country that we are making progress on the areas that matter to them, and we are going to deliver for them.”

Asked about the disquiet from within his party about the direction the Conservatives are taking, Mr Sunak said: “What unites all members of our party, MPs and beyond, are our values as Conservatives and the type of country that we want to build.”

The PM visited a food, wellness and yoga charity in north London. Pic: PA
Image:
The PM visited a food, wellness and yoga charity in north London. Pic: PA

In the wake of the local election defeats, Mr Sunak was facing calls to tack both further right and further to the centre.

Mr Street called on the prime minister not to drift to the right, telling Sky News that he “would definitely not advise that drift”.

“The message is clear: winning from that centre ground is what happens,” he added.

Meanwhile, former home secretary Suella Braverman wrote in the Daily Telegraph that “the hole to dig us out of is the PM’s, and it’s time for him to start shovelling”.

She called for the Conservatives to take a tougher stance on tax, migration, small boats and law and order.

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Mr Sunak said: “I’m absolutely determined to fight incredibly hard for what I believe and for the future country that I want to build, and that’s what I’m going to do.

“Fight for this country, fight for the things I believe and deliver for everyone on the things that matter to them.”

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Crypto treasuries top $100B for Ethereum’s 10th anniversary: Finance Redefined

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Crypto treasuries top 0B for Ethereum’s 10th anniversary: Finance Redefined

Crypto treasuries top 0B for Ethereum’s 10th anniversary: Finance Redefined

Ethereum’s 10th anniversary celebration was marked by an uptick in institutional demand for Ether as an alternative treasury reserve asset, prompting Wall Street to look past Bitcoin.

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Hong Kong stablecoin stocks slide as new rules take effect, experts see healthy reset

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Hong Kong stablecoin stocks slide as new rules take effect, experts see healthy reset

Hong Kong stablecoin stocks slide as new rules take effect, experts see healthy reset

Stablecoin-linked stocks in Hong Kong plunged by double digits amid the city’s new regulatory transition, but experts say it’s a healthy correction.

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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.

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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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