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Becoming prime minister is a shock. Not so much the moment of being elected – any sensible democratic politician knows that opinion polls can be wrong and gets ready for all eventualities.

No incoming prime minister can ever be fully prepared for the demands of the job, placed on them from day one, when – among many other demands – they are taken aside to be briefed about their role in a nuclear war.

The process is particularly challenging in the UK because the change is so quick. There are no weeks of transition as in most other countries. Nobody else does it like us.

Keir Starmer
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Keir Starmer has no experience of government

As Tony Blair remarked to Alastair Campbell: “Imagine preparing for a new job by working flat out travelling the country for six weeks and then go a few nights without sleep.”

If this general election goes to usual form either Prime Minister Keir Starmer or Prime Minister Rishi Sunak will be installed in 10 Downing Street by lunchtime the day after the vote.

Neither of them will have had any sleep the night before, waiting for the declarations in their own constituencies into the small hours and then dealing with the fallout from the results elsewhere.

If he has stayed in touch with reality, Sunak would certainly be flabbergasted by victory, given the general expectation that he would lose.

More on Boris Johnson

Re-election to the job of premier should hold no other surprises beyond trying to step around the elephant traps he has carefully dug for the next prime minister, assuming that it would not be him.

First-timer Starmer would face the challenge of taking on a job and lifestyle which only 56 people have ever experienced before.

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Your ultimate UK election guide

Becoming prime minister at an election with a change of governing party is even rarer. There have been 13 general elections in the last 50 years but only three handovers of power between Labour and the Conservatives.

Being a senior minister is not an adequate preparation for Number 10.

Gordon Brown was a hugely powerful chancellor of the exchequer for a decade who regarded himself as a co-prime minister, yet a few months after he took over the top job, a senior Brownite ruefully confessed to me: “We thought it was going to be like the Treasury only bigger. It isn’t. That was handling just one thing. As prime minister everything comes at you from all directions.”

Along with taking tea with Margaret Thatcher, the former finance minister also spent his honeymoon period dealing with terror attacks in London and Glasgow and unexpected summer flooding across England.

Unlike Harold Wilson, James Callaghan, Edward Heath, Thatcher, John Major, Theresa May, Boris Johnson, Liz Truss and Sunak, Starmer has never served in a government as a minister.

Rishi Sunak
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Rishi Sunak campaigning

He shares this lack of experience with David Cameron and Blair, who had been in parliament for 14 years when he became prime minister and a shadow minister for 10.

Cameron had been an MP for nine years when elected prime minister, as would be the case for Starmer, who only became an MP in 2015.

Cameron already knew his way around government having worked as an aide in Conservative headquarters and for senior ministers.

Starmer likes to boast that he had a successful career as a lawyer before entering parliament. He believes that running the “big organisation” of the Crown Prosecution Service should be good preparation for the premiership.

Starmer also says he knows how to cope with a change of style because he switched from poacher as a defence barrister to gamekeeper as director of public prosecutions.

A prime minister who comes at a general election usually has to switch in a moment from all-out campaigning to managing a party, a government and a country.

Except for Cameron whose preparations benefitted from a hung parliament and five days of negotiations to set up the coalition with the Liberal Democrats.

At least general election-elected prime ministers start with a clean sheet of policies and with plenty of jobs to hand out.

Tony Blair and Gordon Brown, clearly the best of pals. Pic: PA
Image:
Tony Blair and Gordon Brown. Pic: PA

Blair admits “the disadvantage of a new government is lack of experience in governing” but he claims “it is also an advantage… we thought the unthinkable. We did the undoable.” His early gambits included shifting PMQs to one half-hour session a week and granting independence to the Bank of England.

This baptism of fire and new beginning perhaps explains why Thatcher, Blair and Cameron are the significant national leaders of recent years, who won re-election, rather than those who took over power by default of internal party machinations.

Sunak can never be a member but Starmer would have a chance to join this distinguished club, although he is circumscribed by the state of the economy and by the things which Tory campaigning has forced him to rule out.

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Incoming prime ministers depend heavily on the staff around them. Someone has to make preparations for government which could be only days away. A leader is occupied fighting an election campaign and must not be seen to be presumptuous or complacent about victory. Officials and even family members are slapped down if they slip saying “when” not “if” about winning.

Blair is credited with pulling off one of the most successful transitions thanks in large part to his team. His chief of staff Jonathan Powell and advisor David Miliband secretly drew up a plan in advance for the government’s first 100 days. Peter Mandelson and Alastair Campbell practically invented the arts of political spinning and media handling in this country. Anji Hunter and Sally Morgan had the delicate task of reaching out to the party and the outside world and managing the appointment of ministers and government advisors. Mistakes are sometimes made when handing out jobs, names may be mixed up, post-it notes dropped or mobile phones mislaid.

Starmer’s key decision in preparation for government was the controversial hiring of a widely respected senior civil servant as his chief of staff.

Liz Truss speaks at the official launch event for the 'Popular Conservatism'.
Pic: Reuters
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Liz Truss. Pic: Reuters

He has made it clear that Sue Gray will take over as top dog from campaign director Morgan McSweeney from the moment of victory. Gray knows everyone in Whitehall after decades of working there. She is expected to oversee Olly Robbins replacing Simon Case as cabinet secretary. She will also have a decisive voice over the appointment of advisors and ministers.

In the past, shadow ministers have had more than a year for “access talks” about their plans with officials in relevant government departments. Sunak withheld permission for these to start until early this year and has now called a snap election, meaning Labour has had barely six months to prepare.

Some of those involved in getting MPs ready for government are worried they are not as ready as they should be. Starmer has shown that he can be ruthless and, if he does become prime minister, there are likely to be nasty shocks for some now assuming they will be ministers in government. Labour already have about 20 more “front bench” spokespeople than there are paid ministerial jobs in government.

In Blair’s case, Mandelson says the “real” and “important” reshuffle shake-out took place after a year in office.

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The head of government has other unavoidable duties. Blair had to cope with the death of Princess Diana within months of being elected. “Why me?” Truss asked of the death of Queen Elizabeth II just days into her premiership.

Before the state opening of parliament on 17 July, the next prime minister will have to represent the UK at NATO’s 75th anniversary summit in Washington between 9 and 11 July with Ukraine at the top of the agenda. A week later he will host the European Political Community at Blenheim Palace – this organisation came into existence after Brexit to improve relations between 50 European nations.

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Prime ministers make what come to be seen as unforced errors – such as Truss’s mini-budget, Cameron’s Brexit referendum and Blair’s invasion of Iraq. They also have to cope with unforeseen events beyond their control, such as the COVID-19 pandemic.

The shocks of the first few weeks as prime minister are likely to be dwarfed by the shocks in the years to come. However hard they have tried to prepare, whether or not they are ready, the job will soon find out a prime minister’s strengths and weaknesses.

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Some good news for the British economy – but the celebration might not last long

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Some good news for the British economy - but the celebration might not last long

We’ve been waiting for a while for the Office for National Statistics to deliver us some good news on the British economy – and today it came.

Output grew by 0.5% in February, up from zero growth in January and higher than the 0.1% forecast by economists.

Some usual caveats apply. Monthly data can be volatile and prone to revision – but it can go up as well as down.

While publishing the latest figures, the ONS also revised up its January figure from -0.1% to zero.

It’s clear that, across the economy, sectors performed robustly.

The big surprise was manufacturing.

Business surveys told us that UK factories were on their knees, anxious about Trump’s tariffs and impending tax rises that came into effect in April.

More on Uk Economy

Yet the production sector grew by 1.5% – led by pharmaceuticals, metals and transport equipment. Businesses have been resilient.

The chancellor will be pleased, but the celebrations are likely to be fleeting.

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Analysis: Trump blinks as bonds falter

The world has already moved on, with Donald Trump unleashing policy chaos on the global economy.

Britain is now facing a 10% tariff on exports to the US and there will be pockets of acute stress, particularly for our car manufacturers, who have been hit with a 25% tariff.

They export more to the US than any other country in the world. Indeed, some of the growth in manufacturing may have been driven by businesses rushing to do deals before tariffs came into force.

The tariffs alone on the UK will be painful – but the most significant damage is likely to come from a slowdown in the global economy.

The US and China are engaged in a tit-for-tat trade war and that will have negative spillovers, especially for an open economy like ours. We won’t escape the fallout.

Businesses here in the UK might curtail hiring and investment in response, their hesitancy compounded by uncertainty over what Donald Trump might do next.

Consumers may also retreat, especially if the pound weakens and imports become more expensive, causing inflationary consequences.

So, while we’ve finally been given something to cheer, darker days beckon. We should enjoy it while it lasts.

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New York bill proposes legalizing Bitcoin, crypto for state payments

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New York bill proposes legalizing Bitcoin, crypto for state payments

New York bill proposes legalizing Bitcoin, crypto for state payments

A New York lawmaker has introduced legislation that would allow state agencies to accept cryptocurrency payments, signaling growing political momentum for digital asset integration in public services.

Assembly Bill A7788, introduced by Assemblyman Clyde Vanel, seeks to amend state financial law to allow New York state agencies to accept cryptocurrencies as a form of payment.

It could permit state agencies to accept payments in Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), according to the bill’s text.

New York bill proposes legalizing Bitcoin, crypto for state payments

Source: Nysenate.gov

According to the bill, state offices could authorize crypto payments for “fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts,” as well as penalties, special assessments and interest.

Related: Trump’s tariff escalation exposes ‘deeper fractures’ in global financial system

Cryptocurrency legislation is becoming a focal point in New York, with Bill A7788 marking the state’s second crypto-focused legislation in a little over a month.

In March, New York introduced Bill A06515, aiming to establish criminal penalties to prevent cryptocurrency fraud and protect investors from rug pulls.

Crypto-focused legislation has gathered momentum since US President Donald Trump took office on Jan. 20, with Trump signaling during his campaign that his administration intends to make crypto policy a national priority, as well as making the US a global hub for blockchain innovation.

Related: Illinois Senate passes crypto bill to fight fraud and rug pulls

New York may mandate state “service fee” on crypto payments

If passed, the bill would mark a significant shift in how New York handles digital assets. It would allow state entities to integrate cryptocurrency into the payment infrastructure used for collecting public funds.

The proposal also includes a clause allowing the state to impose a service fee on those choosing to pay with crypto. According to the text, the state may require “a service fee not exceeding costs incurred by the state in connection with the cryptocurrency payment transaction.” This could include transaction costs or fees owed to crypto issuers.

Assembly Bill A7788 has been referred to the Assembly Committee for review and may advance to the state Senate as the next step.

New York’s legislation comes shortly after the state of Illinois passed a crypto bill to fight fraud and rug pulls, after the recent wave of insider schemes related to memecoins, Cointelegraph reported on April 11.

Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

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Swedish MP proposes Bitcoin reserve to finance minister

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Swedish MP proposes Bitcoin reserve to finance minister

Swedish MP proposes Bitcoin reserve to finance minister

A member of Sweden’s parliament proposed adding Bitcoin to the country’s foreign exchange reserves, suggesting increased openness to cryptocurrency adoption in Europe following recent moves by the United States.

Swedish MP Rickard Nordin issued an open letter urging Finance Minister Elisabeth Svantesson to consider adopting Bitcoin (BTC) as a national reserve asset.

“Sweden has a tradition of a conservative and carefully managed foreign exchange reserve, mainly consisting of foreign currencies and gold,” Nordin wrote in a letter registered on April 8, adding:

“At the same time, there is a rapid development in digital assets, and several international players regard bitcoin as a custodian and a hedge against inflation. In many parts of the world, bitcoin is used as a means of payment and as security against rising inflation.”

“It is also an important way for freedom fighters to handle payments when under the oppression of authoritarian regimes,” he added.

Swedish MP proposes Bitcoin reserve to finance minister

Open letter from MP Rickard Nordin. Source: Riksdagen.se

Related: US Bitcoin reserve marks’ real step’ toward global financial integration

The Swedish proposal echoes a recent move by the United States. In March, President Donald Trump signed an executive order to create a national Bitcoin reserve funded by cryptocurrency seized in criminal investigations rather than purchased through market channels.

The order authorized the Treasury and Commerce secretaries to develop “budget-neutral strategies” to buy more Bitcoin for the reserve, provided there were no additional costs to taxpayers.

The governor of the Czech National Bank has also considered Bitcoin as part of a potential diversification strategy for the country’s foreign reserves, Cointelegraph reported on Jan. 7.

Related: Bitcoin reserve backlash signals unrealistic industry expectations

European lawmakers silent on Bitcoin legislation amid CBDC push

European lawmakers have remained mostly silent on Bitcoin legislation despite Trump’s historic executive order and Bitcoin’s economic model favoring the early adopters.

The lack of Bitcoin-related statements may stem from Europe’s focus on the launch of the digital euro, a central bank digital currency (CBDC), James Wo, the founder and CEO of venture capital firm DFG, told Cointelegraph, adding:

“This highlights the EU’s greater emphasis on the digital euro, though the recent outage in the ECB’s Target 2 (T2) payment system, which caused significant transaction delays, raised concerns about its ability to oversee a digital currency when it struggles with daily operations.”

ECB President Christine Lagarde is pushing ahead with the digital euro’s rollout, expected in October. Lagarde has emphasized that the CBDC will coexist with cash and offer privacy protections to address concerns about government overreach.

“The European Union is looking to launch the digital euro, our central bank digital currency, by October this year,” Lagarde said during a news conference, adding:

“We are working to ensure that the digital euro coexists with cash, addressing privacy concerns by making it pseudonymous and cash-like in nature.”

Swedish MP proposes Bitcoin reserve to finance minister

Source: Cointelegraph

This is in stark contrast to the approach of the US, where Trump has taken a firm stance against CBDCs, prohibiting “the establishment, issuance, circulation, and use” of a US dollar-based CBDC.

Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 –March. 1

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