Starmer cuts short Buckinghamshire visit after farmers stage noisy tractor protest

Published

3 months ago

February 13, 2025

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Farmers forced the prime minister to cut short a visit to a housing development as they drove tractors to the site in a protest against changes to inheritance tax.

Sir Keir Starmer was in Buckinghamshire to announce more than 100 new towns could be built under the government’s plans for the “largest house building programme since the post-war era”.

Politics latest: Follow live reaction to PM cutting short visit

As he spoke to workers at a housing development in Milton Keynes, a group of farmers gathered in about a dozen tractors outside the site.

They sounded musical horns, disrupting the announcement shortly after Sir Keir arrived.

The prime minister cut the visit short following the protest, driving off before he was set to do media interviews.

Farmers have staged several protests since the October budget, when the government introduced a 20% inheritance tax on farms worth more than £1m from April 2026.

They have accused the government of failing to listen to them and said the tax will mean some will have to sell off land or their entire farms to pay for it, which could affect food production.

Sir Keir later said his government had made a “political choice” to grow the economy and bring NHS waiting lists down instead of maintaining “the tax break for farmers”.

“People watching this will understand that that is a choice. They will know what they would prefer,” he said.

“Do they want their waiting lists to come down, do they want their mortgages to come down, the economy to start working for everyone?

“That is what we are trying to achieve.

“Or do we want to give tax breaks for farmers? We can’t have both.”

Farmer Phillip Weston told Sky News’ Dan Whitehead at the protest: “He’s not coming to us to talk, so we’re coming to him.”

As Sir Keir was driven away from the site, farmers could be heard shouting “just talk to us”.

Farmer Richard Miles, who travelled from Welford, Northamptonshire, said: “We are not being listened to at all, that’s why we feel we have to come and see him in person.”

A Thames Valley Police spokesman said: “Thames Valley Police facilitated a peaceful protest off the A509 and liaised with the protesters at the scene.

“Officers from the local policing team engaged with the protesters.

“No arrests were made or necessary. The protest has reached its conclusion and the group are now dispersing from the area.”

Politics

UK to require crypto firms to report every customer transaction

Published

1 hour ago

May 18, 2025

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UK to require crypto firms to report every customer transaction

United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said.

Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement.

Details of companies, trusts and charities transacting on crypto platforms will also need to be reported.

Failure to comply or inaccurate reporting may incur penalties of up to 300 British pounds ($398.4) per user. The UK Revenue and Customs department said it would inform companies on how to comply with the incoming measures in due course.

However, UK authorities are encouraging crypto firms to start collecting data now to ensure compliance readiness.

The new rule is part of the UK’s integration of the Organisation for Economic Development’s Cryptoasset Reporting Framework to improve transparency in crypto tax reporting.

The changes reflect the UK government’s aim to establish a more robust regulatory framework that supports industry growth while ensuring consumer protection.

UK Chancellor Rachel Reeves also introduced a draft bill in late April to bring crypto exchanges, custodians and broker-dealers within its regulatory reach to combat scams and fraud.

“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” Reeves said at the time.

A study from the UK’s Financial Conduct Authority last November found that 12% of UK adults owned crypto in 2024 — a significant increase from the 4% reported in 2021.

UK’s approach contrasts with EU’s MiCA

The UK’s move to integrate the crypto rules into its existing financial framework contrasts with the European Union’s approach, which introduced the new Markets in Crypto-Assets Regulation framework last year.

According to the MiCA Crypto Alliance, one key difference is that the UK will allow foreign stablecoin issuers to operate in the UK without needing to register.

There will also be no cap on stablecoin volumes, unlike the EU’s approach, which may impose controls on stablecoin issuers to manage systemic risks.

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

Politics

Hong Kong police busts $15M laundering ring that used crypto, 500 bank accounts

Published

6 hours ago

May 18, 2025

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Hong Kong police busts M laundering ring that used crypto, 500 bank accounts

Hong Kong police arrested 12 people involved in a cross-border money laundering scheme that relied on crypto and over 500 stooge bank accounts to launder HK$118 million ($15 million), local news outlets reported.

The syndicate was dismantled on May 15, resulting in the arrest of nine men and three women in mainland China and Hong Kong.

The suspects allegedly recruited others to open bank accounts to receive proceeds from fraud cases, which were then converted into crypto at crypto exchange shops to launder the illicit funds, Hong Kong Commercial Daily reported on May 17.

The criminal organization rented a residential unit in the Hong Kong neighborhood of Mong Kok to plan and carry out its money laundering activities. Of the $15 million laundered, more than $1.2 million was linked to 58 reported fraud cases.

Caught in action

The bust followed police surveillance on May 15, when two recruits left the syndicate’s Mong Kok base — one visiting a bank, the other an ATM — before both went to convert the cash into crypto at a crypto exchange shop in the neighborhood of Tsim Sha Tsui.

Police arrested both individuals on the spot, seizing around HK$770,000 ($98,540) in cash before the funds could be laundered. The other 10 individuals, aged between 20 and 41, were arrested soon after.

Police seized approximately HK$1.05 million ($134,370) in cash, over 560 ATM cards, multiple mobile phones, bank documents and records related to crypto transactions.

Senior Inspector Tse Ka-lun of Hong Kong’s Commercial Crime Bureau claimed that the individuals often used bank accounts from their friends and family to launder the stolen funds.

Hong Kong reported a 12% year-on-year increase in fraud reports in 2024, with authorities making more than 10,000 fraud-related arrests. Of those arrests, around 73% involved individuals who held stooge bank accounts.

The crackdown comes as Hong Kong continues to roll out its crypto regulatory framework to support local innovation, protect consumers and establish itself as a crypto hub.

Hong Kong’s Securities and Futures Commission introduced new rules for crypto exchanges offering staking services in April. Two months earlier, the securities regulator rolled out a roadmap to improve market access, optimize compliance, expand product offerings, strengthen crypto infrastructure and foster relationships with industry players.

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

Politics

Keir Starmer says closer EU ties will be good for UK jobs, bills and borders ahead of key talks

Published

9 hours ago

May 17, 2025

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Keir Starmer says closer EU ties will be good for UK jobs, bills and borders ahead of key talks

Sir Keir Starmer has said closer ties with the EU will be good for the UK’s jobs, bills and borders ahead of a summit where he could announce a deal with the bloc.

The government is set to host EU leaders in London on Monday as part of its efforts to “reset” relations post-Brexit.

A deal granting the UK access to a major EU defence fund could be on the table, according to reports – but disagreements over a youth mobility scheme and fishing rights could prove to be a stumbling block.

The prime minister has appeared to signal a youth mobility deal could be possible, telling The Times that while freedom of movement is a “red line”, youth mobility does not come under this.

His comment comes after Kaja Kallas, the EU’s high representative for foreign affairs, said on Friday work on a defence deal was progressing but “we’re not there yet”.

Sir Keir met European Commission president Ursula von der Leyen later that day while at a summit in Albania.

If agreed, the deal will be the third in two weeks, following trade agreements with India and the US.

Sir Keir said: “First India, then the United States – in the last two weeks alone that’s jobs saved, faster growth and wages rising.

“More money in the pockets of British working people, achieved through striking deals not striking poses.

“Tomorrow, we take another step forward, with yet more benefits for the United Kingdom as the result of a strengthened partnership with the European Union.”

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Conservative leader Kemi Badenoch has said she is “worried” about what the PM might have negotiated.

Ms Badenoch – who has promised to rip up the deal with the EU if it breaches her red lines on Brexit – said: “Labour should have used this review of our EU trade deal to secure new wins for Britain, such as an EU-wide agreement on Brits using e-gates on the continent.

“Instead, it sounds like we’re giving away our fishing quotas, becoming a rule-taker from Brussels once again and getting free movement by the back door. This isn’t a reset, it’s a surrender.”