Former Coventry Labour MP Geoffrey Robinson's spending probed
The revelation also led Lord Mandelson to resign from his role as trade secretary at the time.Mr Robinson stood down as an MP in 2019 saying he would not stand for re-election due to ill health. He also owned the New Statesman magazine from 1996 to 2008 and served as chairman of Jaguar and Coventry City FC.
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Wales Online
30 minutes ago
- Wales Online
'I believe in Wales, its people and its possibilities'
'I believe in Wales, its people and its possibilities' In this opinion piece to mark one year of Keir Starmer's government, Plaid leader Rhun ap Iorwerth argues the Prime Minister has failed to fulfil his promises Leader of Plaid Cymru Rhun ap Iorwerth (Image: Ben Birchall/PA ) Restore hope, stop the chaos. The message - foregrounded and front-loaded in Labour's 2024 General Election Manifesto - was, superficially at least, a nod to better days ahead. It was a positive, and ultimately persuasive promise, which drew a line under the torrid Tory years – implying not only a new sense of order but an awareness that the founding principle of any government should be the betterment of those it serves. A palpable sense of anger had built up, not least driven by the unfairness and inequality which characterises modern Britain. A well-off family at the 80th wealth percentile had seen its wealth increase by 37 per cent between 2006-08 and 2018-20, whilst a modest family at the 40th wealth percentile had seen no real wealth growth at all. Few would deny that a re-building job was urgently required. The need to re-evaluate priorities and re-shape society, and to embed equity and equality became so apparent that not even the blue tinge of Starmer's Labour could ignore it. Article continues below And somewhere in this equation lay Wales, a nation reminded time and time again that we're 'better together' – and 'better still' with two Labour governments working together. It would therefore not be unreasonable for Wales to expect to see the promised dividend being delivered, with early signs to become apparent that years of Wales being short-changed by Westminster would come to an end. Exactly one year on since that General Election, the reality could hardly be more different. It is somewhat ironic that Keir Starmer's first anniversary in office coincides with Independence Day in the USA. Yes, Keir Starmer has set off his fair share of fireworks over the past year, but they've not been of the joyous kind that traditionally mark Fourth of July celebrations across the pond. Some of those feeling let down over the past 12 months may well cite Starmer's stance on UK-US relations as symptomatic of a wider lack of moral leadership. An unwillingness by the Labour leader to challenge Trump on foreign affairs in particular parallels many of his attitudes towards the domestic agenda, where principles have too often been cast aside. The disabled fearful, pensioners paying the price and farmers furious. Seldom has an incoming government wasted so little time before taking hope away. The 'Change' placards have long been flung on the scrapheap, replaced by a trudging managerialism at best, a reckless attitude towards some of the party's values at worst, and tired platitudes which can so often be painful to watch. Of course, the managerialism to which I refer has pervaded Welsh politics for far too long on Labour's watch. Six years ago, the current First Minister enthusiastically cheered America's freedom on Independence Day whilst serving as Minister for International Relations. Eluned Morgan appears to believe that independence, be it literal or independence of thought, is something for others to enjoy, whether for nations or individuals. And not only has she never appeared to fully believe in our nation's ability to stand on its own two feet, she's also failed to make our relationship with Westminster less unjust. Independence of thought and spirit on her part would go a long way in making the 'Red Welsh Way' something more meaningful than a slogan. I believe in Wales, its people and its possibilities. For this reason 'the power of partnership' holds more currency for me than Labour's adopted 'Partnership in Power' mantra. The former cements the contract between the government and the people it serves, while the latter serves only to celebrate hegemony. Next May, the people of Wales have the opportunity to elect a new government underpinned by a new contract of respect and understanding. A new way whereby individuals feel that when the actions of government brush against their lives, they do so in a positive and meaningful sense. A contract which means that those in power lead rather than manage, and take responsibility for their actions – truthfully and transparently. I'm excited by the prospects of what Wales can achieve, and for Plaid Cymru, delivering positive change to build our nation is not just something we talk about, it's an instinctive driving force. From forcing the Labour Welsh Government's hand in introducing free school meals for all primary school pupils to winning the debate on taking action on second homes to help people be able to live in their communities, we already have a proud recent record of delivering. And that's been from opposition! When UK Labour's Secretary of State for Wales stood on the stage of her party conference last weekend to wrongly claim that Plaid Cymru would scrap free prescriptions, she achieved two things. Article continues below Firstly, she exposed her party's desperation in resorting to smearing opponents rather than offering positive solutions. Secondly, she strengthened my resolve to restore people's trust in those they put in office. From the expenses scandal to the plainly immoral Covid VIP lanes, voters are rightly angry, but I want to turn that anger into hope. With Plaid Cymru's plans to cut waiting times, support small businesses, tackle the cost of living crisis and harness our natural wealth, we can do things differently in Wales. For anyone who refuses to believe that this is as good as it gets for our communities, and for everyone let down by Westminster's broken promises, real change is possible with a Plaid Cymru government next May.
The Independent
35 minutes ago
- The Independent
Is London's stock market in crisis?
I will be accused of 'clickbait' for posing that question. But look at the figures. There were just five new listings – or Initial Public Offerings (IPOs) – in the first half the year, raising £160m from investors. And, well, that is a miserable number. According to data company Dealogic, it is the lowest in 30 years and a fall of 98 per cent when compared with the start of 2021 (when the UK was still suffering from the effects of the pandemic). It is even lower than the level recorded in the first part of 2009, when large parts of the City were still dealing with the after-effects of the financial crisis. Once a global giant – that would get interest from any international company looking to list – the London Stock Exchange is shrinking – fast. Statista shows it hosted more than 2,400 companies at the beginning of 2015. Now, the number is less than 1,700, and falling. It's now big news today if a feisty young British growth company chooses to stay home rather than head off to Wall Street. Predators from overseas – whether other companies or private equity – see London as the perfect place to go shopping for bargains. KKR, a US private equity firm, has just had a £4.7bn offer for Spectris, a UK maker of testing equipment, high-tech instruments and software, accepted. That offer is at a 98 per cent premium to where the company's shares were trading before the takeover interest became known. Private equity companies are all about maths. They have strict targets for the returns from their assets and will only act where they feel those can be met. That KKR thinks it can still hit them while paying a 98 per cent premium speaks volumes about the low valuation this company had prior to the the former's emergence as a suitor. Even more concerning are the rumours that the giants at the top of the market are also considering booking first-class transatlantic flights. Shell was rumoured to be looking at this last year. More recent, speculation has swirled around AstraZeneca, the pharmaceuticals giant. Its loss would be a brutal blow to both the City and to the government – life sciences are a core part of its industrial strategy. All this should worry ministers who say they are committed to a dynamic, modern, and crucially growing economy. The City provides a awful lot of high-paying jobs, and pays an awful lot of tax. The decline of the IPO market will inevitably result in redundancies and a reduction in revenues. What to do? London's strict listing rules have already been eased, to no great effect. The door has opened to controversial practices, such as allowing tech companies to offer dual class shares, which concentrate power in the hands of their founders. Again, the results have proved to be singularly unimpressive. The real problem is those valuations. London was once lauded for its deep pool of investment capital, which helped to keep them healthy. Trouble is, it has dried up. Regulation has resulted in big investment institutions such as pension funds and insurance companies dropping shares in favour of lower risk assets, such as bonds. Brexit also catalysed the flight of billions of pounds of foreign capital. Retail investors have, meanwhile, shunned equities and in favour of cash ISAs – even though they often fail to beat inflation. The British government has in recent years expended a great deal of effort and energy on encouraging start-ups. Some of these have borne fruit – especially in tech, and financial tech – for which London has become a hub. It needs to pay more attention to the next phase of their development, otherwise, as ungrateful as it may seem, they'll join the transatlantic procession. They have a fiduciary duty to their investors, and as things stand, that duty will be easy to fulfil in the welcoming arms of New York. Headquarters will inevitably follow. Regulatory reform must go further and faster, along with more radical action – call it a second big bang. Reeves must face down her critics – including the likes of Martin Lewis – and reduce cash ISA limits. Personally, I'd scrap the product. Harsh? Yes. But necessary to encourage saving through equities. Investors will ultimately thank her when they see how they are rewarded. The UK also currently charges a 0.5 per cent tax on share trades above £1,000. This might not seem like much, but it soon adds up and acts as a disincentive to traders. It is much higher than the charges levied by rival financial centres. Offering the City a £3.3bn tax break is bound to prove controversial in certain quarters – especially when the government is badly strapped for cash and the beneficiaries would like be very wealthy – but it would be worth it, in my view. But here's the thing: the revenues produced by this levy are in decline – just as London as a financial centre is in decline. If scrapping it helped catalyse a revival, it would pay for itself, potentially many times over. Broker Peel Hunt says that higher valuations would translate into higher capital gains and inheritance tax receipts. This is not a new argument. I remember the frustration expressed to me by a lobbyist about a scepticism when they made the case to a Tory minister back in the 1990s. It's time for a Labour minister to be bold and show the way. It isn't yet too late to pull London out of its despairing spiral. If Reeves were to unveil an aggressive package of measures, it would serve as a statement of intent that could very quickly change the narrative, persuading the potential leavers to stay put and encouraging new entrants to test the newly welcoming waters. Improving tax revenues and growth would swiftly follow.
Telegraph
36 minutes ago
- Telegraph
The new Corbyn-Sultana party may be the most sinister Britain has seen in decades
Not since Pulp and the Pyramid Stage were united in perfect harmony in 1995 has the Glasto crowd been this excited about a new partnership. They once chanted: 'Oh, Jeremy Corbyn' to the beat of the White Stripes' Seven Nation Army. They have since declared 'death, death' to an actual army, the Israel Defense Forces (IDF). Now, as if by some Eavis-inspired magic, these two worlds have collided to produce Jeremy Corbyn: The Sequel, guest-starring Zarah Sultana. Although the Marxist mash-up is yet to be officially confirmed, we understand the former Labour MPs are unified by a desire to harness Left-wing and Muslim anger to defeat centrists such as Wes Streeting at the next election. Heady stuff. In a social media post, Sultana said the Government is 'an active participant in genocide' in Gaza and highlighted growing poverty, Labour's position on welfare, and the cost of living as reasons for establishing her new party. 'Labour has completely failed to improve people's lives. And across the political establishment, from Farage to Starmer, they smear people of conscience trying to stop a genocide in Gaza as terrorists. But the truth is clear: this Government is an active participant in genocide. And the British people oppose it.' In fact, a majority of Britons (55 per cent) do not view Israel's actions as genocidal, according to the latest YouGov poll, but pro-Palestinian fanatics have never been very good with facts. Corbyn, never a man in much of a hurry, has not yet broken his silence to say whether or not he supports the new party Sultana claims to have set up with him. As soon as he does, we can surely expect a slow pilgrimage of so-called 'progressives' to Islington North, where all new members will be given rainbow 'Queers for Palestine' badges and keffiyeh scarves. Disappointingly, old Compo's lefty pals John McDonnell and Diane Abbott have refused to sign up. Clive Lewis, the Labour MP for Norwich, who once had to apologise for using the phrase: 'Get on your knees, bitch' has also sadly ruled himself out as a future minister for women and equalities. Shame. Sultana famously once said she would 'celebrate' the deaths of Tony Blair and Benjamin Netanyahu – yet claims to espouse a 'socialism without barbarism'. I'm not so sure. I'm not certain someone like Sultana – the MP for Coventry South who lost the Labour whip soon after being re-elected in 2024 – should be considered an expert on barbarism. She once wrote of her support for 'violent resistance' by Palestinians. Sultana has been accused of using racist slurs while a student at Birmingham University, when she described a Jewish student as a 'YT' (whitey) in a Facebook post. In 2015, the 31-year-old, who sat on the national executives of both Young Labour and the National Union of Students, posted on Twitter: 'Yay, the white woman didn't win the Ethnic Minorities Officer Election!' Yay, indeed! She has previously criticised the police and the monarchy. In 2014, she posted: 'Can we get rid of the monarchy while we're fighting the establishment and its institutions? Viva la revolucion!' In 2015, she tweeted: 'Solidarity with those protesting in London right now. Keep safe from the thugs that are the police.' Although she later apologised for her comments about the police, she denies any suggestion she is an anti-Semite, insisting: 'As an anti-racist campaigner and a Muslim, I'm committed to fighting racism in all its forms and I know that these forms are interconnected and must be fought collectively.' Which brings us nicely on to Corbyn, who similarly claims to be a lifelong 'anti-racism campaigner', despite presiding over the Labour Party when a number of Jewish MPs and members were forced out. In 2016, the 76-year-old said he regretted once describing Hamas and Hezbollah as 'friends'. The admission came two years after he attended a wreath-laying in Tunisia for Palestinian leaders linked to the Black September group which carried out a terror attack on the 1972 Munich Olympics, killing 11 people Israelis. Corbyn insisted he was primarily there to pay his respects to the victims of a 1985 Israeli airstrike on Palestinian Liberation Organisation offices in Tunis. Despite being pictured holding a wreath, he said: 'I was present at that wreath-laying, I don't think I was actually involved in it.' Right, Jezza. The important thing to note here is that this isn't Change UK, dreadful though Anna Soubry is. This has the potential to be a political force more frightening than anything Britain has ever known. Despite Sultana's insistence that she is standing up for an 'island that's suffering' – she is not actually interested in the needs of British citizens; her primary aim is to 'free Palestine'. The clue is in the line that she wants 'money spent on public services, not forever wars'. Similarly, her suggestion that 'we need homes and lives we can actually afford, not rip-off bills we pay every month to a tiny elite bathing in cash,' suggests that she is , in fact, more than content with waging a 'forever war' when it comes to class. Or against those she disagrees with, who in her mind are either Tory scum, Zionist scum, racist scum or, of course, genocidal maniacs. Contrary to preaching 'gentler, kinder' politics, Corbyn and Sultana are the high priest and princess of the kind of nasty, vindictive, and divisive hard-Left ideology that saw the Jewish former Labour MP Luciana Berger require police protection to attend the Labour Party conference in 2018. Given half the chance, they would impoverish us in their communist quest for a more 'equal' society and would revel in our immiseration, believing that we must pay for the sins of empire. Sultana describes Farage as a 'grifter'. Yet in her and Corbyn we have the ultimate pair of political fraudsters, purporting to represent the many when, in fact, they are simply a mouthpiece for a vocal minority of deranged zealots.
