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NatWest Group is to scrap the bulk of a possible £10m-plus payout to Dame Alison Rose, its former chief executive, as it tries to draw a line under the debanking row sparked by the closure of Nigel Farage’s Coutts accounts.

Sky News has learnt that the board of NatWest, which is just under 40% owned by British taxpayers, has decided not to pay most of the discretionary elements of Dame Alison’s pay package.

A source close to the bank said the NatWest board’s decision was expected to be announced to the London Stock Exchange on Friday.

While the precise numbers were unclear on Thursday evening, it had been expected that NatWest would adopt a hard line towards its former chief, who stepped down in late July after admitting that she discussed the former UKIP leader’s banking arrangements with a BBC journalist.

The NatWest board’s decision means that Dame Alison will forfeit millions of pounds in unvested share awards, although she is expected to receive a seven-figure sum in the form of her basic salary and fixed share allowance.

Dame Alison’s contract, which incorporated a 12-month notice period, stipulated that she would receive an annual salary of £1.16m, with a further sum of the same amount in deferred share awards.

Her legal fees are also expected to be paid by the bank.

Dame Alison had accrued unvested share awards worth roughly £5m, most of which had been awarded since she became chief executive in 2019.

This week, the Information Commissioner’s Office was forced to make a grovelling apology to Dame Alison after it claimed she had broken privacy laws – an apology which prompted a furious response from Mr Farage.

It emerged following a subject access request by Mr Farage that NatWest employees had belittled the broadcaster and former politician, making a stream of pejorative comments about his views and finances.

Read more:
Nigel Farage and NatWest: A timeline of what happened
Key points from Coutts’ dossier on Farage

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‘The report is an utter whitewash’

Last month, the bank apologised to Mr Farage, acknowledging that it had been guilty of “serious failings” in the way it had treated him.

The decision to “debank” Mr Farage sparked a firestorm in Westminster and forced the City watchdog into an urgent review of the practice across Britain’s banking sector.

According to a public filing by NatWest in August, Dame Alison has been receiving her annual £2.4m package comprising base salary, pension contribution and a share-based fixed-pay allowance since her departure at the end of July.

She was also eligible to be considered for a pro-rata portion of the £2.9m annual bonus and long-term share awards that made up the remainder of her total maximum pay package of £5.3m.

In addition, she held roughly 2.5 million unvested shares in NatWest, which at Thursday’s closing share price of 200.8p were worth in the region of £5m.

That amounted to a theoretical total of more than £10m, although the fact that Dame Alison left midway through 2023 means she would in any case only have been eligible for just over half of the £2.9m in annual variable pay.

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‘It’s about values’: PM on Farage row

The Treasury was expecting to be consulted on the terms of her exit package ahead of an announcement, although it was unclear on Thursday evening whether it had given its consent.

Dame Alison left the bank by mutual consent – where she had been widely regarded to be doing an effective rebuilding job 15 years after its £45.5bn taxpayer bailout – after acknowledging that she had inaccurately briefed a BBC journalist about the reasons for closing Mr Farage’s accounts.

The report, which the broadcaster was forced to amend, suggested that the former UKIP leader did not meet its commercial criteria.

It subsequently emerged that his political views had been instrumental in the decision.

Dame Alison has been replaced on an interim basis by Paul Thwaite, formerly the head of its commercial business.

Dame Alison, the first woman to run one of Britain’s big four London-listed banks, had initially sought to draw a line under the row with Mr Farage by apologising to him, and then by foregoing her bonus for this year.

Within hours, however, signals from Downing Street that it had lost confidence in her leadership prompted the bank to convene an emergency board meeting to rubber-stamp her departure.

NatWest, the Treasury and a spokesman for Dame Alison all declined to comment.

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Community voices shock and fear after woman raped in ‘racially aggravated attack’

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Community voices shock and fear after woman raped in 'racially aggravated attack'

Dozens of people have gathered at a Sikh temple to attend an emergency meeting after police in the West Midlands said they are investigating the rape of a woman as a “racially motivated attack”.

The victim, reported to be a British-born Sikh aged in her 20s, told officers a racist remark was made to her during the attack in Oldbury, which was reported to police just before 8.30am on Tuesday.

The Sikh Federation (UK) said the perpetrators allegedly told the woman during the attack: “You don’t belong in this country, get out.”

Jas Singh, principal advisor to the Sikh Federation (UK), was among the group of faith and community leaders responsible for holding the meeting at the Guru Nanak Gurdwara temple in Smethwick, a few miles from Oldbury, following concerns within the community.

“I think if you look at it in the context of the climate, it makes it even more worrying because there is a trend of hatred… the targeting of migrants,” he said.

“Ultimately, what that means is the targeting of people’s skin colour, and as Sikhs we have the most distinct, unique identity,” he added.

“We bear the brunt of all prejudice and ignorance, and hate.”

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Principal advisor to the Sikh Federation (UK) Jas Singh
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Principal advisor to the Sikh Federation (UK) Jas Singh

Similar sentiments were raised at the meeting, with many horrified by the reports of the sexual assault as well as concerns about their own safety.

“People are trying to divide us,” said a woman in her 30s, who did not want to be named but said, as a Sikh woman, she wanted to be present to have her voice heard.

She was not only referencing the sexual assault but also what she believes has been an increase in overt discrimination.

“Let’s call it what it is, this is racism,” she told the meeting, as she broke down in tears.

Reverend Nick Ross, from Smethwick’s Holy Trinity Church, was also in attendance at the emergency meeting.

He commented on “offensive” graffiti that had been left on the side of the wall of the Sikh temple, while saying his Anglican church had also been defaced.

“We cannot just ignore it, it will go on and it will build, and there will be incidents like this,” he said, referencing racial tensions across the country.

Read more from Sky News:
Migrant hotel critics meet asylum seekers
Motel manager beheaded in washing machine row

Faith and community leaders organised the meeting at the Sikh temple
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Faith and community leaders organised the meeting at the Sikh temple

Police are still trying to identify the perpetrators of the attack and want to speak to anyone who may have seen two white men in the area.

The first is described as having a shaved head and a heavy build, and was wearing a dark sweatshirt with gloves on, and the second was reportedly wearing a grey top with a silver zip.

Chief Superintendent Kim Madill, of Sandwell Police, said: “We are working really hard to identify those responsible, with CCTV, forensic and other inquiries well under way.

“We fully understand the anger and worry that this has caused, and I am speaking to people in the community today to reassure them that we are doing everything we can to identify and arrest those responsible.

“Incidents like this are incredibly rare, but people can expect to see extra patrols in the area.”

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Roadwork levels hit record highs – as expert partially blames Boris Johnson

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Roadwork levels hit record highs – as expert partially blames Boris Johnson

The number of roadworks in Britain has more than doubled in the past two years – and frustrated drivers are more likely than ever to get stuck behind temporary traffic lights.

Exclusive data obtained by Sky News reveals there were 425,524 miles of roadworks across the UK last year. That’s enough to stretch around the world a whopping 17 times.

It marks a 110% increase compared to 2023, when there were 203,000 miles of lane closures.

Part of the reason for the surge is the 2019 pledge by then prime minister Boris Johnson to roll out full fibre broadband to every corner of the nation as part of his “levelling up” agenda.

A promise made by Boris Johnson has been partially blamed for the rise in roadworks. File pic: Reuters
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A promise made by Boris Johnson has been partially blamed for the rise in roadworks. File pic: Reuters

Causeway Technologies infrastructure director Nick Smee told Sky News: “It’s absolutely true that the rollout of super-fast fibre has caused a huge spike because we all want those facilities.

“The problem is you can’t do it without digging up the roads.”

'The rollout of super-fast fibre has caused a huge spike,' Nick Smee says
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‘The rollout of super-fast fibre has caused a huge spike,’ Nick Smee says

The original deadline for Johnson’s ‘Project Gigabit’ was this year, but this has been delayed to 2032, meaning drivers could face at least another six years of disruptions.

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Meanwhile, the government is hoping another 100,000 public electric vehicle charging points will be installed by the end of the decade, which will inevitably lead to more asphalt being ripped up for the cables to be laid.

Roadworks are now a regular occurrence in large parts of the country, with emergency repairs often needed for leaking Victorian water pipes and other utilities.

In some cases, the same streets are repeatedly dug up in quick succession, leading to misery for motorists and an increased risk of potholes.

Drivers in London trundled through 490,893 roadworks in 2024, the highest number nationwide, averaging more than 1,300 sites across the capital every day.

Kent recorded 134,430 projects, and Surrey had 132,291. Essex and Hampshire complete the list of the top five roadwork hotspots.

Heavy machinery carrying out roadworks in London
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Heavy machinery carrying out roadworks in London

In January 2024, the then Conservative government said it would crack down on disruptive street works.

The Labour government stood by the pledge and said it would start charging firms that unnecessarily leave roads closed over weekends, which hadn’t previously been possible.

Read more from Sky News:
Migrant hotel critics meet asylum seekers
Calls for PM to publish security warnings about Mandelson

Officials also planned to double fines for delayed roadworks by this summer. However, the Department for Transport has now told Sky News that won’t happen until next year at the earliest “due to other high priority legislative work pushing it back”.

Clive Bairsto, chief executive of the trade association Street Works UK, said: “If you overfine people, the industry will be forced to use firms of less integrity and you’ll end up with the poor performers being used to do jobs rather than the good performers, which is what we want to encourage.”

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‘African tribe’ camping in Scottish woodlands vows to stay put despite court order

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'African tribe' camping in Scottish woodlands vows to stay put despite court order

The leader of a self-styled African tribe living in a Scottish woodland has vowed his group will stay put despite a court order stating the encampment should be removed.

A sheriff on Friday issued a warrant for the removal of the so-called Kingdom of Kubala, which has been camped near Jedburgh in the Scottish Borders for the past few weeks.

The three members of the self-proclaimed kingdom have said they’re reclaiming land that was stolen from their ancestors 400 years ago.

Kofi Offeh, 36, is the leader of the group and the self-proclaimed King Atehene. The other two members are his wife Jean Gasho, 43, who calls herself Queen Nandi, and “handmaiden” Kaura Taylor, who calls herself Asnat.

The group says it is reclaming stolen land. Pic: PA
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The group says it is reclaming stolen land. Pic: PA

After the warrant was issued on Friday, they showed no inclination to leave.

Speaking at the campsite, Mr Offeh said: “The creator of the heavens and the Earth is the one with us.

“We are not afraid of whatever the court – the so-called court – has granted.”

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Asked if they plan to move, he replied: “If the creator of the heavens and the Earth wants us to move from this land, he shall find us a place to go.”

Part of a court course summons letter at the campsite. Pic: PA
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Part of a court course summons letter at the campsite. Pic: PA

Issuing the order at Jedburgh Sheriff Court on Friday morning, Sheriff Peter Paterson said it would come into effect immediately.

None of the members of the so-called kingdom were in court and they did not have legal representation.

The civil action was brought after the trio ignored a previous eviction notice, which said they had to leave by 5pm on Monday.

Read more:
Motel manager beheaded in washing machine row
Man charged after fire at MP’s office

Kaura Taylor (left) calls herself Asnat and Jean Gasho goes by Queen Nandi. Pic: PA
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Kaura Taylor (left) calls herself Asnat and Jean Gasho goes by Queen Nandi. Pic: PA

Earlier, Jedburgh councillor Scott Hamilton said the landowner had been left with “no option” but to take legal action.

He said: “The council will be supporting the landowner through the next steps and all the additional safety measures will remain in place until this situation is resolved.

“Whilst this next stage of the eviction process plays out, please can I remind people not to engage with this group.”

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