Lucy Fisher

ft.comBritain will not join Canada-led defence bankChancellor John Healey will instead throw weight behind a separate UK-led initiative

NEW: Britain is walking away from joining the Canada-led intl Defence, Security & Resilience Bank FT revealed last month that UK was exploring proposal, incl option to merge DSRB with the Multilateral Defence Mechanism (MDM), a separate UK-led intl defence initiative www.ft.com/content/1f79...

Talks broke down over merger, incl disagreement about HQ location, acc to officials UK govt insider said Canada’s focus was “single sovereign lending to smaller countries…while MDM countries want joint procurement to be the main focus of an intl org with a AAA credit rating to support Nato targets”

A European defence figure was critical: “UK has chosen a model that makes defence financing conditional on joint procurement, striking at the heart of national sovereignty. France and Germany can’t even agree on a fighter jet” Europe needs “armaments in its inventories, not IMF-style” defence org

ft.comConservatives and Reform ready their attacks on John Healey’s BudgetUK’s rightwing opposition parties hope to get some attention from voters for their rival economic programmes

The Budget is a major test for Burnham’s administration, but it also poses dilemmas for the Conservatives and Reform Badenoch and Farage are sharpening attack lines, but will PM’s decision to push back Milburn/Timms reviews blunt their planned hits on welfare spending? www.ft.com/content/a505...

What will the UK Budget mean for Britain? Join me and FT colleagues for an exclusive subscriber webinar on 29 October, the day after the Budget. To register, and send us your questions, go to ft.com/budget2026

ft.comShe’s been tasked with overhauling Britain’s bureaucracy. Can Antonia Romeo succeed?The high-profile cabinet secretary is pushing for radical reform amid growing pressure to shrink the civil service

She’s been tasked with overhauling Britain’s bureaucracy. Can Antonia Romeo succeed? The high-profile cabinet secretary is pushing for radical reform amid growing pressure to shrink and improve the civil service… My read in FT www.ft.com/content/9d29...

podcasts.apple.comBurnham: straight-talker or loose cannon?Podcast Episode · Political Fix · 16 October · 43min

Andy Burnham: straight-talker or loose cannon? On the FT’s Political Fix podcast this week, we discuss the PM’s troublesome penchant for off-the-cuff remarks, Labour’s youth welfare reforms, and the Lib Dem coup that’s fizzled... for now Check it out here! 👇 podcasts.apple.com/sn/podcast/b...

With @greenmiranda, @robertshrimsley & @Smyth_Chris on the line-up this week 🎙️

Lucy Fisher reposted

Christopher Miller

@christopherjm.ft.com

European delegates rebuffed the plan, pitched by US special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner. But it has startled European capitals and Kyiv, raising questions about the US’s intentions and its starkly different approach to pressing Moscow to end its war in Ukraine.

Financial Times@financialtimes.com

FT Exclusive: European officials rebuffed the plan pitched by Donald Trump’s envoys during discussions in Miami last week to tempt Vladimir Putin back to the negotiating table. ft.trib.al/n1cPo4H

ft.comRussian hostile activity costs UK up to £2.5bn a year, report warnsLabour MP Graeme Downie’s research highlights lack of consistent framework for measuring economic impact of Moscow-backed hybrid warfare

The economic impact of Russian hostile activity against Britain totals at least £2bn-£2.5bn annually, acc to new report by vice-chair of the all-party parliamentary group on rearmament Graeme Downie www.ft.com/content/bd20...

Labour MP Downie found the true cost this disruption, recovery & investment in resilience – the ‘Putin tax’ – is likely to be vastly higher, but lack of govt data/attribution hampers accurate calculation Govt must publish its own annual costings of hit to economy from hostile state conduct, he says

ft.comAndy Burnham searches for UK alternative to PalantirPrime minister’s ‘buy British’ push triggers hunt to find replacement for controversial US tech group awarded health service and defence contracts

EXC: British govt is searching for a UK alternative to Palantir, as the PM’s “buy British” push triggers hunt for homegrown replacement for the controversial US software group in NHS and MoD w/ @chris-smyth.bsky.social & @laurahughesft.bsky.social www.ft.com/content/9a6e...

Ministers have identified a handful of UK technology companies they hope might be candidates to take over the health service’s Federated Data Platform, as they consider applying a break clause in Palantir’s contract in March next year, people familiar with the matter told the FT

A defence minister has also told parliament that the govt is sounding out alternative suppliers for its MoD contract

ft.com‘Strong indications’ Iran was involved in RAF Fairford incident, says Andy BurnhamPrime minister says UK is working closely with US administration following release of five suspects on bail

NEW: There are “strong indications that Iran played a part” in the RAF Fairford incident, Andy Burnham says UK is working w/ US on the matter, which “remains an ongoing, complex & serious police investigation” PM confirms Rubio claim’s claim about role of a state actor www.ft.com/content/bb55...

Breaking: Burnham announces he will set out what the "different options are for Britain’s long-term relationship with our European partners" later this year. "We will not give Britain the clear path we need into the rest of this century until we decide...

"...on a long-term relationship with what is still our largest market... "Brexit has done more harm than good... "We need to restore a higher level of growth and prosperity for Britain," the PM says.

We’re recording Political Fix *live* at Labour conference later after Burnham’s speech! Biz sec Johnny Reynolds is our special guest on the pod If you’re in Liverpool & fancy listening in, come along to the inHouse lounge for 5.30pm Stephen Bush, Jen Williams & George Parker are on the panel 🎙️📻🎧

Lucy Fisher reposted

Financial Times

@financialtimes.com

Just in: The five men arrested near RAF Fairford over a suspected terrorist plot were all UK nationals in their twenties living in London, Counter Terrorism Policing said on Monday. ft.trib.al/ysSl5Ys

ft.comLabour conference live: John Healey gives first party speech as UK chancellorSpeech to party members comes a month before high-stakes Budget

Miliband has pledged that “no tech titan will stand in our way” as the govt prepares to lead global efforts “to manage AI” during Britain’s G20 presidency next year www.ft.com/content/7761...

ft.comHealey to promise ‘new age of industrialisation’ with £6bn Royal Navy planChancellor will pledge that work on building three new floating docks on the Clyde in Scotland will be carried out by British firms

John Healey to promise ‘new age of industrialisation’ with £6bn Royal Navy plan Chxwill pledge that work on building three new floating docks on the Clyde in Scotland will be carried out by British firms www.ft.com/content/46c3...

ft.comAndy Burnham under pressure to signal shift on Labour’s EU ‘red lines’Prime minister’s team taking soundings on whether party should move UK closer to Europe

👀 Andy Burnham is under mounting pressure to signal he could drop Labour’s “red lines” preventing Britain from moving closer to the EU, as party figures debate whether he should address the issue in his party conference speech next week. www.ft.com/content/a161...

People briefed on discussions say Burnham’s team is taking soundings on whether he should signal — either at conference or in “10-year plan” later this year — that the party’s next manifesto cd remove block to UK rejoining a customs union, single market or EU itself W/ @georgewparker.bsky.social

ft.comHow could John Healey raise tax in the Budget?Given the restrictions imposed on him by Labour’s manifesto, the chancellor has limited options available to bring in money

How could Chx John Healey raise tax in the Budget? Examining the for/against cases for increasing capital gains, pensions, companies & property taxation www.ft.com/content/dffc...

ft.comUK ‘actively’ exploring joining Canada-led global defence bankThe DSRB aims to provide low-cost financing for military initiatives

Last week we revealed the UK is in talks to join the Defence, Security and Resilience Bank (DSRB) - with one of the options being a merger of it with the Multilateral Defence Mechanism (MDM). Andy Burnham confirmed today that such discussions are underway, while speaking in NY

Lucy Fisher@lucyfisher.ft.com

EXCL: UK ‘actively’ exploring joining Canada-led global defence bank British officials examining proposals for UK to join the Defence, Security and Resilience Bank (DSRB) under Burnham, after proposal was rejected by Starmer W/ @pickardje.bsky.social & Ilya Gridneff www.ft.com/content/4e14...

Asked by travelling press pack whether Britain (which spearheaded the MDM) can be a member of both entities, PM said: “That’s what we are in discussions about at the moment” Added: “The two sides are exploring the extent to which we can bring the two initiatives together, one can support the other”

ft.comKremlin-backed forgery scheme moved $6.9bn through global banksFT finds thousands of Russian payments handled by Standard Chartered, Citigroup and other international groups in vast leak from inside fintech A7

He stressed no decisions had been made

Lucy Fisher reposted

Chris Cook

@chriscook.news

21 Sept

A big new story from us: a big new leak means that we can put numbers on the scale of A7 -- the Kremlin's huge money-laundering machine. $6.9bn laundered through the international banking system via SWIFT, with $1.1bn sent to StanChart alone. www.ft.com/content/3848...

ft.comAI staff complain of mental toll over fears of threat to societyTop researchers at Aisi, OpenAI, Anthropic and Google DeepMind report burnout and stress over developing powerful AI

EXC: AI staff complain of mental toll over fears of threat of society Multiple staff at Britain’s AI Security Institute (AISI) have been signed off work with stress and are undergoing counselling, acc to people familiar with the matter www.ft.com/content/6087...

Tight schedules for testing unreleased AI models, plus alarm over rapid rollout and growing capabilities of AI, have fuelled low morale and burnout at AISI, acc to four people with knowledge of the matter

It’s part of a wider phenomenon across leading AI companies: staff at Anthropic, OpenAI and Google DeepMind have also publicly complained of similar issues, with many top researchers quitting due to the mental toll or coming to a belief that their work was unsafe for public release

atlanticfutureforum.comAtlantic Future ForumAtlantic Future Forum

21 Sept

Later this autumn Political Fix will be recorded on the bridge of the Royal Navy aircraft carrier HMS Prince of Wales Delighted the FT is the inaugural media partner for Atlantic Future Forum, the UK govt-led international summit for defence, security & tech leaders www.atlanticfutureforum.com

Lucy Fisher reposted

Robert Smith

@bondhack.ft.com

17 Sept

Ben Delo is many things: a crypto billionaire, a Reform mega-donor and a free speech advocate. @oilsheppard.bsky.social and I discovered he's also the landlord of a bankrupt academic after funding her failed libel claim against a Jewish artist who complained of antisemism www.ft.com/content/21aa...

ft.comReform UK’s mega-donor backed a friend’s libel claim. Now he controls her homeCrypto billionaire Ben Delo loaned more than £300,000 to former academic Nina Power

societyofeditors.orgShortlist 2026 – Society of EditorsSociety of Editors. Protecting the freedom of the news media

Delighted to be shortlisted for Political Journalist of the Year, in a list of such amazing reporters & great to see fantastic FT colleagues shortlisted across other categories too www.societyofeditors.org/events/media...

ft.comUK looks to ‘land drones’ to transform beleaguered Ajax fighting vehiclesCollaboration between General Dynamics and ARX Robotics aimed at making armoured vehicles more lethal in war zones

EXCL: US defence giant and German military start-up are joining forces to deploy autonomous “land drones” aimed at transforming the British Army’s beleaguered Ajax armoured fighting vehicles www.ft.com/content/3c38...

UK arms of General Dynamics and ARX Robotics will today unveil a plan to integrate robotic vehicles to operate around the Ajax platforms as “wingmen” in war zones

Lucy Fisher reposted

Gina Neff

@ginasue.bsky.social

There is something off about this NYT photo on AI development that I can't quite put my finger on.

Lucy Fisher reposted

Tony Tassell

@tonytassell.bsky.social

the Revolut hack story is quite something www.ft.com/content/97f3...

ft.comUK ‘actively’ exploring joining Canada-led global defence bankThe DSRB aims to provide low-cost financing for military initiatives

Topic set to be on agenda when Burnham and Carney meet tomorrow, and Healey and his Canadian counterpart Champagne meet on Thurs

Tories v sceptical about the mechanism govt will use to avoid pensioners having to fill in tax returns “Reeves promised ‘a simple workaround’ last November. Ten months on there is still no mechanism in place,” said one Tory figure, warning it “doesn't really give pensioners much peace of mind”

Lucy Fisher@lucyfisher.ft.com

NEW - Pensions minister Torsten Bell confirms that pensioners who ‘just exceed’ personal allowance when state pension rises WON'T have to pay small amounts of tax this parliament “In line with the commitment made at Budget 2025, pensioners who only just exceed the personal allowance will not...

Officials say they are confident that HMRC, which has undergone a digital transformation, will be able to devise a solution, though the details are yet to be worked out.

... have the administrative burden of paying small amounts of tax in this Parliament. “Chx will set out further details on how that commitment will be delivered at the Budget.”

11 Sept

AI: Is Britain prepared? On Political Fix this week the FT’s AI editor Madhu Murgia, @robertshrimsley.bsky.social, @greenmirandahere.bsky.social & I discuss tech doomerism, the UK-Israel reset, and the Met police probe into Reform… Out now! 🎙️📻🎧

podcasts.apple.comAI: Is Britain prepared?Podcast Episode · Political Fix · 11 September · 41min

11 Sept

Quick links here to Political Fix, the FT’s multi-award-winning weekly podcast on all things Westminster... Apple: podcasts.apple.com/gb/podcast/a... Spotify: open.spotify.com/episode/0LWx... FT: www.ft.com/content/4fcc... Pocket Casts: pocketcasts.com/podcast/poli...

Lucy Fisher reposted

Miranda Green

@greenmirandahere.bsky.social

11 Sept

To explain P-doom and the AI extinction scares Madhumita Murgia joined @lucyfisher.ft.com on Pol Fix this week with @robertshrimsley.bsky.social and I sitting quaking beside her - a great expert witness www.ft.com/content/4fcc...

ft.comAI: Is Britain prepared?Plus, Burnham breaks with Starmer over Israel

Miranda Green@greenmirandahere.bsky.social

Am I the only person endlessly sent back to David Bowie Five Years by all the AI doom chat?? My P-doom number is 5 in his honour open.spotify.com/track/1JIzFh...

open.spotify.comFive Years - 2012 RemasterDavid Bowie · The Rise and Fall of Ziggy Stardust and the Spiders from Mars (2012 Remaster) · Song · 1972

ft.comForeign Office to appoint first female head after Mandelson turmoilLindy Cameron becomes top civil servant at the department that was rocked by the sacking of predecessor Olly Robbins

10 Sept

EXCL: Lindy Cameron, UK high commissioner to India, is set to become first female perm sec at the Foreign Office, @FT told Cameron, an ex-chief exec of the National Cyber Security Centre, beat Karen Pierce and Barbara Woodward in the final round www.ft.com/content/360d...