More stories

  • in

    Government sells final NatWest shares 17 years after bailout

    The government has sold its remaining shares in NatWest, finalising the bank’s return to private ownership for the first time since it was bailed out during the 2008 financial crisis. The Treasury has been a stakeholder since NatWest, formerly known as RBS, received almost £46 billion of funding in 2008 and 2009.To date, £35 billion has been returned to the Exchequer through share sales, dividends and fees, meaning the sale has come at a £10.5 billion loss to taxpayers.The government and bosses at NatWest said it was a significant milestone since the bailout, which prevented the bank’s collapse.Chancellor Rachel Reeves said NatWest’s return to private ownership “turns the page on a significant chapter in this country’s history” More

  • in

    Voices: ‘Why are they striking? Because they can’: Readers frustrated by threat of further NHS industrial action

    Strikes by NHS doctors are once again making headlines and dividing opinion across the country.As junior doctors vote on whether to take more industrial action, Health Secretary Wes Streeting has urged them to say no, warning that more strikes will only hurt patients and stall progress. Doctors say they’ve had enough of being underpaid and undervalued, with some calling for a near 30 per cent pay rise to make up for years of real-terms cuts. But public support is slipping, and some patients are losing patience. In a poll of Independent readers, two-thirds of respondents said they felt strikes would hurt patients and should not go ahead.Bigger questions also lurk behind the pay dispute: is the NHS properly funded? Is immigration helping or hurting the system? And how do we train and keep enough staff without burning them out or driving them abroad?When we asked for your views, some readers blamed poor management, others pointed to staff shortages and rising demand. But one thing was clear: the NHS is at breaking point, and something has to give.Here’s what you had to say:User changesWe need some user charges for health care. This is to encourage people to look after their health. Despite more money being poured into the NHS than ever before, the number of people needing treatment continues to rise even faster. User charges would also enable doctors to be paid properly and prevent them from leaving for other countries.MarkAdd your view on strikes and the state of the NHS by leaving a coment hereA career, not a vocationWhen becoming a doctor became a career rather than a vocation, it seems to have become both in thrall to Big Pharma and motivated by greed rather than concern for patient or societal well-being — something else unwanted, imported from the USA.Topsham1Rising demand means rising contributionsIf we went back to the NHS of the 1950s, 60s, 70s, etc., we could probably reduce funding considerably. However, what the NHS does and the numbers it does it for consistently rises. If we really want it to meet the need comprehensively, we’ll need to increase contributions. To keep up with rising costs and modern treatments, this seems inevitable. We seem to accept rising costs in most areas of life, but think we can run the NHS on less. Go figure.Strangely EnoughStriking while patients suffer is wrongI think it is morally wrong to take industrial action that will knowingly harm patients. The dispute is not with them. Strikes are to put pressure on the employer, in this case the government, to up their offer. But if inadequate pay is causing retention problems, then the pressure is already there.EarthFirstIf you get rid of the thousands of administrators/managers on £100,000+ salaries, you can afford a pay rise for doctors and nurses. The NHS is way too top-heavy.VonGenschlerA good carpenter can out-earn most doctorsI’ve spent a lot of time in and out of hospitals in recent times and have had excellent treatment overall. It would be good if our NHS staff were the world’s highest paid, but that can’t happen because hospitals are oversubscribed with the growing number of people, many of whom are not entitled by birth to do so. Doctors and other staff are also not necessarily native in any way, but I, for one, am glad they’re here.Today, a good carpenter can out-earn most doctors up to registrar level, which must be galling for those with higher education and ambition.As an older person, I use the NHS more frequently. Sometimes I’m aware that me living means someone might not get that important appointment. Another thing is free prescriptions – I receive twelve items more or less each month. Again, I wonder how on earth I could pay the cost that others have to pay. My prescriptions are delivered free as well. I don’t know how this is financed, but someone does.I suppose, one day, they will carry out the most enormous cull to balance things up a little. I wouldn’t blame them – maybe they’re already planning it.MartynGPs failingsGPs bear a great chunk of the NHS failings that are occurring today.My recollection of GP services concerns the home birth of our second child. There were no complications – in fact, labour only lasted for three hours – but our GP at the time came to the house during the labour and returned three days after the birth to check that the baby and mother were in good fettle, which they were.Do GPs give that sort of service today?Cameron promised 24/7 GP service, but that went unfulfilled.A battle needs to take place, with GPs becoming employees of the NHS and being paid a good rate for the job. Present partnerships must be put to the sword.MORDEYAs I am in my 80s, I am lucky enough to remember when being a doctor was a vocation, not just another job. Sadly, those days are gone.It appears that greed is now what motivates our young doctors.Why are they striking? Because they can.Do they care that people may die because of their actions?No.Paqs‘Wealthfare’ state vs NHS spendingHow come we never have these “debates” when we spend on the “wealthfare” state (aka socialism for the rich), but must always have them whenever it’s time to spend on anything else? I ask because even Big Oil and Big Pharma, the arms industry, etc., apparently need subsidies, tax relief, grants and sundry other largesse, while overworked NHS workers must live on food banks, or have their relative peanuts “debated.”Ryhope1UK failed to retain its own medicsThe NHS has been subsidised by the developing world, who train its doctors and nurses since its inception.It is incapable of recruiting and retaining UK staff like me, who went to Australia as soon as I completed my training.KwameSome of the comments have been edited for this article for brevity and clarity. You can read the full discussion in the comments section of the original article here.The conversation isn’t over. To join in, all you need to do is register your details, then you can take part in the discussion. You can also sign up by clicking ‘log in’ on the top right-hand corner of the screen.Make sure you adhere to our community guidelines, which can be found here. For a full guide on how to comment click here. More

  • in

    Trump administration accused of hypocrisy after claiming the UK and Europe are ‘trampling democracy’

    Donald Trump’s administration has been accused of hypocrisy after claiming that the UK and Europe are “trampling democracy”. In a post on the Substack blogging platform, the US state department accused governments of “weaponising political institutions” to turn the continent into a “hotbed of digital censorship, mass migration, restrictions on religious freedom, and numerous other assaults on democratic self-governance”. The piece broadly criticises the so-called ‘global liberal project’ but highlights the UK and Germany in particular.The comments echo previous US claims that the greatest threat to European security was not Russia but the continent’s suppression of the right and anti-abortion activists. “Americans are familiar with these tactics,” the post says. “Indeed, a similar strategy of censorship, demonization, and bureaucratic weaponization was utilized against President Trump and his supporters. “What this reveals is that the global liberal project is not enabling the flourishing of democracy. Rather, it is trampling democracy, and Western heritage along with it, in the name of a decadent governing class afraid of its own people.”Calum Miller (L) said Donald Trump was the greatest threat to liberty in the US More

  • in

    Pollster warns of ‘political earthquake in UK’ after polls show Farage could be PM

    Nigel Farage could become the prime minister with an outright majority, the latest polling calculations show as Reform UK surges ahead of Labour and the Conservatives. After Sir Keir Starmer attacked the Reform UK leader directly in a bid to stem the party’s rise, parliament seat prediction site Electoral Calculus has calculated that Mr Farage would win 362 seats if a general election were held tomorrow. Labour would fall from winning 412 seats at the last general election to second place on 136, while the beleaguered Conservatives would be almost wiped out, winning just 22 seats. One pollster has suggested that the UK is on the verge of “a political earthquake”, but others have warned against reading too much into the current polls and questioned some of the assumptions behind the Electoral Calculus prediction.Nigel Farage is on course to become prime minister, according to the polls More

  • in

    Revealed: How Farage’s £80bn tax cuts would benefit the richest most

    Nigel Farage’s claim that Reform UK is the “party of workers” has been called into question as figures show his plans to slash taxes would benefit the richest most. The Reform leader on Tuesday outlined up to £80bn of welfare and tax handouts – without saying how he would fund them – in a bid to entice Labour voters, declaring that “Reform really are now the party of working people”. But economists have warned that the billions of pounds’ worth of unfunded pledges would cause economic chaos, and say Mr Farage’s plans would benefit top earners far more than those on the lowest incomes. Nigel Farage has declared Reform the party of working people More

  • in

    Reform backs cryptocurrency tax cut as party receives first Bitcoin donations

    Reform UK has pledged to cut taxes on cryptocurrencies and set up a “Bitcoin reserve” if elected.Party chairman Zia Yusuf told reporters on Friday that a Reform government would reduce capital gains tax on assets such as Bitcoin to 10% as part of a raft of reforms to how cryptocurrencies are governed.Mr Yusuf, who does not own cryptocurrency, suggested the cut could generate up to £1 billion for the Treasury over a decade, saying it would encourage more use of such currency and encourage people to move their assets to the UK.Cryptocurrencies currently incur capital gains tax of either 18% or 24%, depending on the rate of income tax paid by the person selling the assets.Mr Yusuf also announced that Reform would allow people to pay tax in Bitcoin and establish a “Bitcoin reserve fund” to “diversify” the UK’s reserve holdings.He said the UK was “losing ground” to other countries, and added that Reform’s proposals would help the financial services sector “catapult itself back into being a leader”.The announcement came as party leader Nigel Farage said Reform would begin accepting donations in cryptocurrency.Speaking at the Bitcoin Conference in Las Vegas on Thursday, Mr Farage said: “My message to the British public, my message particularly to young people, is help us to help you bring our country properly into the 21st century.“Let’s recognise that crypto, Bitcoin, digital assets, are here to stay.”Mr Farage pledged that his party would “launch in Britain a crypto revolution” and make London “one of the major trading centres of the world”.On Friday, Mr Yusuf told reporters Reform had already received its first cryptocurrency donations, adding they were all compliant with Electoral Commission rules.Cryptocurrencies such as Bitcoin have increased in popularity in recent years, with research suggesting around 12% of adults in the UK own or have owned cryptoassets, up from 4% in 2021.Last month, Chancellor Rachel Reeves announced plans to regulate cryptoassets in a bid to make the UK a “world leader”.She told a conference that she would “back the builders” as she announced plans to make crypto firms subject to regulation in the same way as traditional finance companies. More

  • in

    Reeves to plough tens of billions into red wall seats as Labour seeks to fend off Farage

    Labour is set to plough tens of billions of pounds into red wall seats leaning towards Reform UK as the party ramps up its efforts to halt the rise of Nigel Farage. After months of haemorrhaging voters to Mr Farage’s populist outfit, Rachel Reeves will unveil spending for a slew of road, rail and green energy projects in the north and Midlands, according to reports. The chancellor will use next month’s spending review to reprioritise spending from the southeast to the red wall seats that Labour won at the last election, but are now under threat from Reform, it is claimed.It could free up tens of billions of pounds to invest in the projects in areas where Labour fears Mr Farage’s appeal as part of an overall £100 billion pot Ms Reeves can use to invest in infrastructure after tweaking her fiscal rules in last year’s Budget. Touting the fiscal rule change in January in a speech promising to kickstart growth, Ms Reeves said: “We have changed course on public investment, too.Rachel Reeves is set to prioritise investment in red wall areas More

  • in

    Attorney General compares Reform and Tories’ policy to actions of Nazi Germany

    The Attorney General has drawn comparisons between calls for the UK to disregard international court rulings and the actions of Nazi Germany.Speaking in London on Thursday, Lord Richard Hermer KC criticised the notion that the UK could breach international obligations, branding it a “radical departure from the UK’s constitutional tradition”.In a speech to the Royal United Services Institute (Rusi) thinktank, Lord Hermer highlighted the historical context of dismissing international law, noting that similar arguments were made in Germany during the early 1930s. He said that the claims that international law can be “put aside” were made in the early 1930s in Germany.Lord Hermer voiced concerns over what he sees as a growing sentiment within the UK, including within the Palace of Westminster, to abandon international legal constraints in favour of “raw power”. He cautioned against this approach, stating: “This is not a new song.””The claim that international law is fine as far as it goes, but can be put aside when conditions change, is a claim that was made in the early 1930s by ‘realist’ jurists in Germany, most notably Carl Schmitt, whose central thesis was in essence the claim that state power is all that counts, not law.” Attorney General Lord Richard Hermer said the idea that the UK can breach international obligations is a “radical departure from the UK’s constitutional tradition” More