Universities not returning to face-to-face teaching should not charge full fees, education secretary says

Published

4 years ago

August 10, 2021

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Universities that do not return to face-to-face teaching this coming academic year should not be charging full fees, the education secretary has told Sky News.

Speaking to Kay Burley, Gavin Williamson said: “I think if universities are not delivering what students expect, then actually they shouldn’t be charging the full fees.”

Live updates as students receive their A-level results

He said the government has made it “clear” that “all universities can move back to face-to-face teaching”.

“That’s what we want to see,” Mr Williamson added.

Pressed on what the government could do if some institutions do not go back to in-person lectures and seminars, the education secretary acknowledged that universities were “autonomous”.

But he stressed: “Our direction is clear and we do expect all universities, unless there’s unprecedented reasons, to be moving back to the situation of actually delivering lessons and lectures face-to-face.”

Mr Williamson said ministers would give the Office for Students – the independent regulator of higher education in England – “all the power and all the backing” in pursuing universities “that aren’t delivering enough for students that are paying their fees”.

The education secretary’s comments come on the day hundreds of thousands of students in England, Wales and Northern Ireland receive their A-level results.

Mr Williamson said employers “can have real confidence” in the grades that will be awarded, with a “rigorous system of grading and awarding” in place.

“People have been awarded this grade on the basis of evidence,” he continued.

“We took a difficult decision, and that decision was children were to be assessed on what they had been taught. We have seen various amounts of disruption around the country and children’s experiences have been different.

“But still, you have a very clear grading system, you still see children who are achieving A*s, As, Bs, Cs, have really achieved so very, very much, and I think employers can have real confidence in the grades that they get. Let’s not forget this is an unprecedented year.”

Mr Williamson said that while the government will consult on a contingency plan “largely based around” teacher-assessed grades for next year, he hopes exams will be able to be held as normal.

He said: “We very much hope that we will be moving to a system of where we are able to move into the more normal pattern of examinations from next year, but always conscious that [in] this pandemic, we have not always been able to predict the course of it, it has continuously changed, and it’s absolutely right that we have contingencies there, as we always do.”

Asked if he was ruling out having to scrap exams once again, the education secretary replied: “We are very much planning to move back to examinations as a form of assessment, but we always have to have a contingency plan in place, and that’s why we will be consulting in the next academic year on those plans.”

Politics

EU markets regulator says crypto may cause ‘broader stability issues’ as market grows

Published

3 hours ago

April 9, 2025

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EU markets regulator says crypto may cause ‘broader stability issues’ as market grows

The European Securities and Markets Authority (ESMA) has warned that crypto will increasingly threaten traditional financial markets’ stability as the industry grows and becomes more entwined with traditional finance players.

“We cannot rule out that future sharp drops in crypto prices could have knock-on effects on our financial system,” ESMA’s executive director Natasha Cazenave said in an April 8 statement to the Economic and Monetary Affairs Committee.

Cazenave noted, however, that crypto currently only accounts for 1% of global financial assets and is not yet significant enough to cause major “spillover effects” into traditional financial markets.

She warned that interconnections between crypto and traditional markets are rapidly growing — particularly in the more crypto-friendly US — and called for closer monitoring.

“Crypto-assets markets evolve quickly, in an often unpredictable manner, and we need to keep a close eye on these developments,” Cazenave said, adding:

“Turmoil, even in small markets, can originate or catalyze broader stability issues in our financial system.”

Cazenave’s concerns ranged from spot crypto exchange-traded funds and stablecoin use to hacks, scams and scandals — highlighting the recent $1.4 billion Bybit exploit and FTX’s collapse in November 2022.

Today in the ECON Committee, the role of crypto assets in relation to financial market stability was discussed. The European Central Bank (ECB) and the European Securities and Markets Authority (ESMA) were present.

I raised a critical question about the digital euro.… pic.twitter.com/KST7FRBhFF

— Engin Eroglu (@EnginEroglu_FW) April 8, 2025

The European Union has already implemented several measures to safeguard against crypto risks, most notably the Markets in Crypto-Assets (MiCA) regulation that was rolled out last year.

While Cazenave said MiCA marked a “breakthrough” for crypto regulation, she added that there is “no such thing as a safe crypto-asset” and that more rules may need to be implemented to mitigate future risks.

Her comments come as both crypto and the stock markets have experienced double-digit falls over the last few weeks as the Trump administration continues to follow through on its tariff plans.

Europe lags US in crypto adoption

While crypto adoption has accelerated in the US, Cazenave noted that over 95% of European banks remain on the sidelines, with no involvement in crypto-related activities.

However, retail participation is on the rise, with an estimated 10% to 20% of European investors having crypto exposure, which is in line with growing global interest, Cazenave said.

Most reports measuring US crypto adoption suggest that the range of adoption is between 15% and 28% of the population.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Politics

Shaquille O’Neal gets judge’s greenlight for $11M Astrals NFT settlement

Published

4 hours ago

April 9, 2025

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Shaquille O’Neal gets judge’s greenlight for M Astrals NFT settlement

Former NBA star Shaquille O’Neal has been granted final court approval to settle a class-action lawsuit for $11 million with Astrals non-fungible token (NFT) buyers.

Florida federal court judge Federico Moreno granted approval of the settlement between O’Neal and the class group led by Daniel Harper in an April 1 order made available on April 8.

The deal created a fund of up to $11 million for eligible class members and awarded $2.9 million in attorney fees and costs. All those who purchased Astrals NFTs from May 2022 to Jan. 15 and those who purchased the project’s native GLXY tokens up until mid-January are eligible.

“The fee sought by lead class counsel has been reviewed and approved as fair and reasonable by plaintiffs,” Moreno’s order read.

O’Neal was hit with the lawsuit in May 2023 over his founding and promotion of the Solana-based Astrals NFT project, which the suit claimed was an “offer and sale of unregistered securities.”

The class group said they bought Astrals NFTs and “suffered investment losses” due to O’Neal’s “conduct” in promoting the project.

In August, Judge Moreno recognized that the class suit had alleged that the former NBA player was a seller of the NFTs. O’Neal agreed to the settlement in November.

Shaquille O’Neal gets judge’s greenlight for $11M Astrals NFT settlement — *Screenshot from court order on final settlement. Source: Courtlistener*

NFT sales slump

The Astrals NFT collection consisted of 10,000 unique 3D digital collectibles created in April 2022 by the artist Damien Guimoneau in a Solana-based project that promoted a virtual world where users could socialize and play with others, including the basketball star.

There has been no activity or sales from the collection for the past two years, according to NFT marketplace OpenSea.

Overall, NFT sales are still in deep bear market territory, with just $27 million sold as of April 7, down from more than $2 billion per week at the end of 2021, according to CryptoSlam.

Magazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame

Politics

Chancellor to hold tariff crisis talks with top City executives

Published

12 hours ago

April 8, 2025

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Chancellor to hold tariff crisis talks with top City executives

Rachel Reeves will seek to gauge the unfolding impact of President Donald Trump’s tariffs blitz on Wednesday when she holds talks with some of the City’s top executives.

Sky News has learnt the chancellor will hold talks with bosses from companies including Hargreaves Lansdown, Legal & General, Lloyds Banking Group and M&G amid ongoing volatility in global financial markets.

Insiders said the talks had been convened to help frame the Treasury’s financial services growth and competitiveness strategy.

However, they acknowledged that the fallout from US tariffs, while not directly affecting most City employers, would feature prominently on Wednesday’s agenda.

“The chancellor will use this meeting to show leadership, building on her statement to the House earlier today, and reiterating that the government will act decisively to take the right decisions in our national interest and protect working people,” a Treasury insider said.

Ms Reeves would stress a commitment to working with international partners to reduce barriers to trade, while pursuing the best possible bilateral deal with the US, they added.

Charlie Nunn, the Lloyds boss; Antonio Simoes of L&G; and Dan Olley, Hargreaves Lansdown’s chief, will all attend the talks.

It will be the latest in a string of meetings the chancellor has held in recent weeks in a bid to boost economic growth.

Her budget last October sparked a furious backlash from the business community, while last month’s spring statement raised fresh fears about the possibility of further tax rises later this year.

None of the companies invited to Wednesday’s meeting would comment when approached by Sky News.