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Conservative former cabinet member Sir Alok Sharma has announced he will not stand as an MP at the next election.

Sir Alok, who chaired the COP26 climate summit in Glasgow, was critical of Rishi Sunak recently when the prime minister watered down the government’s climate commitments.

He said last week that “it’d be incredibly damaging for business confidence, for inward investment, if the political consensus that we have forged in our country on the environment and climate action is fractured.

“And, frankly, I really do not believe that it’s going to help any political party electorally which chooses to go down this path.”

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In his letter to his constituency announcing his decision, the MP for Reading West said he will still “champion in parliament the causes I care deeply about, especially climate action”.

Sir Alok’s seat, which he has held since 2010, is being changed as part of the review of constituency boundaries before the next election, expected in 2024. It will be renamed Reading West and Mid Berkshire.

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In the 2019 general election, Sir Alok increased his majority to 4,117 from 2,876 in 2017.

Before serving as the president of COP26, he was a housing minister, then an employment minister. He went on to serve as international development secretary and business secretary.

As chair of COP26, Sir Alok was a vocal proponent of green policies within the Conservative government.

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He travelled across the UK giving speeches and attending summits on the climate, including at COP27 in Egypt in 2022.

Sir Alok was knighted for his contributions as a world leader in the effort to tackle climate change in the 2023 New Year Honours List.

It was him – as well as the then transport secretary Grant Shapps – who announced plans to ban the sales of petrol and diesel cars by 2030. This policy was delayed until 2035 by Mr Sunak last week as the PM weakened pledges designed to help the UK achieve a net zero economy by 2050.

Speaking at the time, Sir Alok said: “I hope other nations will follow suit as the UK makes another ambitious commitment to protect our planet and reach our all-important target to end our contribution to climate change by 2050.”

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Writing to his constituency paper, Sir Alok said: “I have this evening informed my local Conservative Association that I have decided not to stand at the next general election and therefore do not seek to be adopted as the Conservative candidate for the revised seat of Reading West and Mid Berkshire. This has not been an easy decision for me.

“It has been the honour of my life to serve as the MP for a constituency in the town where I grew up and a privilege to serve in government and represent the UK on the international stage.”

He added: “I will continue to support my Conservative colleagues and serve my constituents diligently for the remainder of my time as an MP, as well as champion in parliament the causes I care deeply about, especially climate action.”

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Poll shows crypto-focused candidates could sway voters in US midterms

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Poll shows crypto-focused candidates could sway voters in US midterms

Poll shows crypto-focused candidates could sway voters in US midterms

With more than a year until US elections to determine control of Congress, a new poll suggested some crypto-minded Democratic voters could be swayed to vote Republican.

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Starmer gets carnival welcome in India – but UK business leaders paint challenging picture back home

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Starmer gets carnival welcome in India - but UK business leaders paint challenging picture back home

It is not hard to see why Sir Keir Starmer ends up doing quite so many foreign trips.

On the road to Mumbai, India, from the airport there were giant pictures of the British prime minister looming over the sealed-off roads cleared for his special VIP convoy.

There was nothing short of a carnival along the roadside to greet the cars.

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Sir Keir Starmer during a visit to an FA Premier League training facility in Mumbai.  Pic: PA
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Sir Keir Starmer during a visit to an FA Premier League training facility in Mumbai. Pic: PA

People who knew nothing about Sir Keir – and were happy to admit so to me – dressed up for the occasion in plumes of feathers and chicken costumes and danced to music. The Labour conference does not come close to that.

This trip has a big first – 125 blue chip business leaders, more than any business delegation in history – are here. The enthusiasm to take advantage of the signed, though not completed, free trade deal is clear.

“I think the importance of this trip is reflected by the huge British delegation we’ve got here today,” said Shevaun Haviland, director general of the British Chambers of Commerce.

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“A hundred and twenty five businesses, biggest UK names Beattie, BP, British Airways, Diageo, Virgin, huge businesses all the way through to incredible AI and energy start-ups from around the UK.”

But business leaders have been clear to me that they haven’t simply joined the delegation to further their activities in India. They want to raise their profile with the prime minister, in order to ensure their voice is heard when it needs to be by the government.

Sir Keir Starmer at a Diwali ceremony in Mumbai. Pic: PA
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Sir Keir Starmer at a Diwali ceremony in Mumbai. Pic: PA

And the picture some paint of life back in the UK is more challenging. CEO of leading architecture firm Benoy, Tom Cartledge, said how 10 to 15 years ago their business was 90% UK activity, and now it is 90% overseas. He said markets like India are important in part because the UK environment is challenging.

“We’re having to go and find new markets because what we do is design big projects, infrastructure, real estate towers, residential, retail,” he told me.

He went on: “There really is a perception of overseas markets that we are sluggish, low productivity, high tax rates. And that does nothing for the confidence. And in fact, I spoke to an Indian client this morning who said that they are relocating from the head offices to Dubai, because the perception is it’s going to get harder, it’s going to get tougher in the UK and we just do not need that.”

It is rare for business figures on a PM delegation to speak so openly.

The PM visits a Premier league youth training facility with ex-England footballer Michael Owen. Pic: PA
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The PM visits a Premier league youth training facility with ex-England footballer Michael Owen. Pic: PA

Ms Haviland told me that business figures are using this trip to pass a message to the prime minister.

“We want to see no more tax for business,” she told me, saying that’s the message being conveyed right now in India. I asked what they say back? “They hear us,” she replied. “I think we’ll have to wait and see.”

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Another important voice is Rohan Malik, managing partner of EY. He says there’s an optimistic case for the UK over the medium term but suggested short-term challenges for the government.

“No one likes taxes, but at the same time, they are a necessary way for the government to balance the books.

“If I take a five or seven-year view, I feel more optimistic about the future, because I do think some short-term pain will lead to some long-term gains.”

Does he think the business community could bear paying a bit more?

“I think it’s going to be tricky for the chancellor,” he said.

“I don’t envy her position at all to be looking at different, but she’s got other of disposal businesses, but not like more taxation. At the same time, we have to be prepared to understand how do we try and contribute more towards economic growth?”

The candour is not something I can remember from business delegations in the past. That’s a response to the nervousness about a £20bn-£30bn black hole Chancellor Rachel Reeves will have to fill in the November budget. Overall the delegates remain on side – for now.

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Coinbase enables staking for NY residents after regulatory approval

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Coinbase enables staking for NY residents after regulatory approval

Coinbase enables staking for NY residents after regulatory approval

Coinbase has launched crypto staking in New York, allowing residents to earn rewards on assets such as ETH and SOL following state regulatory approval.

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