Connect with us

Published

on

Chancellor Rachel Reeves has suffered another budget blow with a rebellion by rural Labour MPs over inheritance tax on farmers.

Speaking during the final day of the Commons debate on the budget, Labour backbenchers demanded a U-turn on the controversial proposals.

Plans to introduce a 20% tax on farm estates worth more than £1m from April have drawn protesters to London in their tens of thousands, with many fearing huge tax bills that would force small farms to sell up for good.

Farmers have staged numerous protests against the tax in Westminster. Pic: PA
Image:
Farmers have staged numerous protests against the tax in Westminster. Pic: PA

MPs voted on the so-called “family farms tax” just after 8pm on Tuesday, with dozens of Labour MPs appearing to have abstained, and one backbencher – borders MP Markus Campbell-Savours – voting against, alongside Conservative members.

In the vote, the fifth out of seven at the end of the budget debate, Labour’s vote slumped from 371 in the first vote on tax changes, down by 44 votes to 327.

‘Time to stand up for farmers’

The mini-mutiny followed a plea to Labour MPs from the National Farmers Union to abstain.

“To Labour MPs: We ask you to abstain on Budget Resolution 50,” the NFU urged.

“With your help, we can show the government there is still time to get it right on the family farm tax. A policy with such cruel human costs demands change. Now is the time to stand up for the farmers you represent.”

After the vote, NFU president Tom Bradshaw said: “The MPs who have shown their support are the rural representatives of the Labour Party. They represent the working people of the countryside and have spoken up on behalf of their constituents.

“It is vital that the chancellor and prime minister listen to the clear message they have delivered this evening. The next step in the fight against the family farm tax is removing the impact of this unjust and unfair policy on the most vulnerable members of our community.”

Please use Chrome browser for a more accessible video player

Farmers defy police ban in budget day protest in Westminster.

The government comfortably won the vote by 327-182, a majority of 145. But the mini-mutiny served notice to the chancellor and Sir Keir Starmer that newly elected Labour MPs from the shires are prepared to rebel.

Speaking in the debate earlier, Mr Campbell-Savours said: “There remain deep concerns about the proposed changes to agricultural property relief (APR).

“Changes which leave many, not least elderly farmers, yet to make arrangements to transfer assets, devastated at the impact on their family farms.”

Samantha Niblett, Labour MP for South Derbyshire abstained after telling MPs: “I do plead with the government to look again at APR inheritance tax.

“Most farmers are not wealthy land barons, they live hand to mouth on tiny, sometimes non-existent profit margins. Many were explicitly advised not to hand over their farm to children, (but) now face enormous, unexpected tax bills.

“We must acknowledge a difficult truth: we have lost the trust of our farmers, and they deserve our utmost respect, our honesty and our unwavering support.”

Please use Chrome browser for a more accessible video player

UK ‘criminally’ unprepared to feed itself in crisis, says farmers’ union.

Labour MPs from rural constituencies who did not vote included Tonia Antoniazzi (Gower), Julia Buckley (Shrewsbury), Jonathan Davies (Mid Derbyshire), Maya Ellis (Ribble Valley), and Anna Gelderd (South East Cornwall), Ben Goldsborough (South Norfolk), Alison Hume (Scarborough and Whitby), Terry Jermy (South West Norfolk), Jayne Kirkham (Truro and Falmouth), Noah Law (St Austell and Newquay), Perran Moon, (Camborne and Redruth), Samantha Niblett (South Derbyshire), Jenny Riddell-Carpenter (Suffolk Coastal), Henry Tufnell (Mid and South Pembrokeshire), John Whitby (Derbyshire Dales) and Steve Witherden (Montgomeryshire and Glyndwr).

Continue Reading

Politics

Labour accused of ‘scandalous attempt to subvert democracy’

Published

on

By

Four mayoral elections to be postponed - as Labour accused of 'scandalous attempt to subvert democracy'

Four mayoral elections due to take place in May 2026 are set to be postponed by two years, Sky News understands.

Elections for the new mayoralties of Essex, Hampshire and the Solent, Sussex and Brighton, and Norfolk and Suffolk will be pushed back until 2028.

The decision, first revealed by The Sun, is due to be announced by ministers today.

This is the second time elections are being delayed in these areas. Local elections due in May 2025 were delayed by then communities secretary Angela Rayner for a year in order to convert them into combined authorities led by mayors.

However, it is understood that these councils need more time to complete their reorganisation.

Please use Chrome browser for a more accessible video player

Will Tories and Reform unite?

The news has sparked accusations Labour are delaying the elections for political purposes.

Reform UK’s head of policy Zia Yusuf said: “This is a blatant attempt to stop big Reform wins next May.

“It’s an act of a desperate government who are clinging onto power by any means necessary.

“Labour has proven time and time again that they’re not beyond denying democracy to millions of people in order to maintain their cosy status quo.”

Pic: PA
Image:
Pic: PA

The Tories’ shadow housing secretary James Cleverly said it was a “scandalous attempt to subvert democracy by a Labour government whose credibility and popularity are already in tatters”.

“The Conservatives firmly oppose this decision to delay the mayoral elections, especially when candidates have been selected and campaigning is well under way,” he added.

“Democracy is being denied yet again after the council elections cancelled by Labour this year.

“There is no credible justification for this move. The Labour government must reverse it immediately.”

Read more:
Tory-Reform pact talks ‘not happening at any level’
Reeves hit by Labour rebellion

Please use Chrome browser for a more accessible video player

Starmer denies misleading voters

The reorganisation is part of Labour’s manifesto commitment to widen devolution, which it argues will improve local economies.

The government wants to abolish the two-tier system of county and district councils and merge them together to create larger unitary authorities. It also wants more areas to have regional mayors, like Greater Manchester’s Andy Burnham.

Reform UK enjoyed success in the local elections in May, winning more than 600 seats and taking control of 10 councils stretching from Kent to County Durham. The party also toppled a 14,000-strong Labour majority in a parliamentary by-election.

The Liberal Democrats’ local government spokesperson Zoe Franklin called the postponed elections “a disgrace”.

“Democracy delayed is democracy denied,” she added. “We are fighting to end this blatant stitch up between Labour and the Conservatives over local elections.”

Continue Reading

Politics

Reeves between a rook and a hard place after claims she ‘made up’ chess championship

Published

on

By

Reeves between a rook and a hard place after claims she 'made up' chess championship

As an opening gambit at PMQs, Kemi Badenoch attacked Labour’s knight, the prime minister, over his Treasury queen, Rachel Reeves.

“We now know the black hole was fake, the chancellor’s book was fake, her CV was fake – even her chess claims are made up,” said the Tory leader.

Politics Live: Labour MP who voted against inheritance tax suspended

“She doesn’t belong in the Treasury; she belongs in la-la land.”

Chess claims made up? Where did that attacking move from Kemi come from? Hasn’t the chancellor told us for years that she was a national chess champion in 1993?

Indeed she has. “I am – I was – a geek. I played chess. I was the British girls’ under-14 champion,” she declared proudly in a 2023 interview with The Guardian.

She posted a video showing her playing chess in parliament and before last week’s budget posed for photos with a chessboard.

More on Rachel Reeves

But her chess champion claim has been disputed by a former junior champion, Alex Edmans, who has accused her of misrepresenting her credentials.

“Her claim was quite specific,” Edmans, now a professor of finance at the London Business School, told Ali Fortescue on the Politics Hub on Sky News.

“She said she was the British girls’ under-14 champion. There was one event that can go on that title, which is the British Championship. And in the year that she claimed, it was Emily Howard who won that title instead.

“She did indeed win a quite different title. There was a British Women’s Chess Association championship, but that’s a more minor title. I’ve won titles like the British squad title, but that’s not the same.

“Just like running a marathon in London is not the same as the London Marathon, there was one event which is very prestigious, which is the British Championship.

“So the dispute is not whether she was a good or bad chess player. That shouldn’t be the criterion for a chancellor. But if you weren’t the British champion, you shouldn’t make that statement.”

Read more from Sky News:
Mysterious tentacles wash up on Scottish beach
Australia’s under-16s social media ban

Oh dear! So now, along with allegations of plagiarism, a dodgy CV and “lying” – according to Ms Badenoch – about the nation’s finances, the chancellor is between a rook and a hard place.

Or is she? “This story is absolute nonsense,” a Treasury mate told Sky News. No word from the No.10 knight, Sir Keir Starmer, or his Downing Street ranks, however.

Emily Howard, as it happens, is now an accomplished composer, having graduated from the chessboard to the keyboard.

The chancellor’s opponents, meanwhile, claim her budget blunders means the Treasury queen has now become a pawn, there for the taking.

But since Rachel Reeves did indeed win a chess title, just not the one she claimed, her supporters insist she can justifiably claim to have been a champion.

So it’s too soon for Kemi Badenoch and the Conservatives to claim checkmate. The dispute remains a stalemate. For now.

Continue Reading

Politics

Connecticut orders Robinhood, Crypto.com, Kalshi to stop prediction markets

Published

on

By

Connecticut orders Robinhood, Crypto.com, Kalshi to stop prediction markets

The US state of Connecticut has hit Robinhood, Kalshi and Crypto.com with cease and desist orders, accusing the platforms of offering unlicensed sports betting through event contracts.

The Connecticut Department of Consumer Protection sent letters to the three platforms on Wednesday, claiming they were “conducting unlicensed online gambling, more specifically sports wagering,” with event contracts available online.

“None of these entities possess a license to offer wagering in our state, and even if they did, their contracts violate numerous other state laws and policies, including offering wagers to individuals under the age of 21,” said DCP Commissioner Bryan Cafferelli.

DCP Gaming Director Kris Gilman accused the platforms of “deceptively advertising that their services are legal,” adding that they operate outside of the state’s regulatory environment, “posing a serious risk to consumers who may not realize that wagers placed on these illegal platforms offer no protections for their money or information.”

Prediction markets have come under legal scrutiny in several US states, as the use of these platforms has skyrocketed this year and attracted billions of dollars in investment for allowing users to bet on the outcome of a variety of events.

Prediction markets saw huge volumes in November. Source: Token Terminal 

Kalshi fires back in court

A Kalshi spokesperson told Cointelegraph that it is “a regulated, nationwide exchange for real-world events, and it is subject to exclusive federal jurisdiction.

“It’s very different from what state-regulated sportsbooks and casinos offer their customers. We are confident in our legal arguments and have filed suit in federal court,” Kalshi added.

In a complaint filed on Wednesday against the DCP, Kalshi claimed that “Connecticut’s attempt to regulate Kalshi intrudes upon the federal regulatory framework that Congress established for regulating derivatives on designated exchanges.”

It added that its platform was subject to the Commodity Futures Trading Commission’s “exclusive jurisdiction” and its sports event contracts “are lawful under federal law.”

“As we’ve previously shared, Robinhood’s event contracts are federally regulated by the CFTC and offered through Robinhood Derivatives, LLC, a CFTC-registered entity, allowing retail customers to access prediction markets in a safe, compliant, and regulated manner,” a Robinhood spokesperson told Cointelegraph.

Crypto.com did not immediately respond to requests for comment.

In its statement, Connecticut’s DCP said that prediction market platforms pose serious risks to consumers because they lack the required technical standards and security protections for financial and personal data.

Source: Connecticut Department of Consumer Protection

The agency claimed that such platforms also lack integrity controls to prevent insider betting or manipulation, operate without regulatory oversight of their payout rules, advertise to self-excluded gamblers and on college campuses, and permit betting on events with known outcomes, thereby giving insiders unfair advantages.

Related: Polymarket opens US app to waitlisted users after CFTC green light

Only three platforms are legally licensed for sports wagering in Connecticut: DraftKings, FanDuel and Fanatics, all of which require users to be at least 21 years old.

Kalshi under fire in at least 10 US states

Connecticut is not the only state to take a hard stance on prediction platforms; regulators in two neighboring states have previously taken action. 

New York sent a cease and desist to Kalshi in late October, and the company responded on Oct. 27 by suing the state. Meanwhile, the Massachusetts state attorney general sued Kalshi in the state court in September.