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Dark Money, Leonard Leo, and the Anachronistic Supreme Court

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Dark Money, Leonard Leo, and the Anachronistic Supreme Court

By Mischa Geracoulis

In How to Interpret the Constitution (2023), Harvard law professor Cass Sunstein argues that any theory of constitutional interpretation used by Supreme Court justices must be defensible in terms of beneficial outcomes, to make democracy “better.” Better is subjective, though. Considering the current Supreme Court, “better” begs the obvious question, “Better for whom?”

Highlighting the fact that this Supreme Court interprets the Constitution through old-fashioned theoretical frames known as traditionalism and originalism, Sunstein emphasizes “the uncomfortable overlap between the views of the majority of the Supreme Court and the views of the right wing of the Republican Party.” Although Sunstein does not specify a best theoretical approach, citing We the People, he promotes a belief that constitutional interpretation should be predicated on the fundamentals of deliberative democracy—that is, the school of thought which alleges that reasonable and justifiable deliberation can secure the public good.

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Thinking about reasonableness and justifiability with regards to just two of the decisions made by this Supreme Court—the ditching of Roe v. Wade and championing of Citizens United v. Federal Election Commission (the right for corporations to spend unlimited funds for or against political campaigns and parties)—gives pause to any consideration of guidelines for bettering democracy and securing the public good. Such decisions also give pause for reflection on notions of considered debate within the Supreme Court if the majority is of the same mind—and, I might add, the same donor base. As previously covered by Project Censored, reporting from Accountable US details how dark money has been used to construct this Supreme Court to advantage Republicans, and far-right, corporate agendas.

These two rulings alone have accelerated inequality of wealth, resources and power, racial and gender biases, and divisive and extreme tactics in US politics. Reproductive rights revocation puts women, particularly those at the lower end of the economic spectrum, under greater financial and medical duress, and legal and moral scrutiny. Corporations and their super PACs, on the other hand, have been given free rein through the shroud of dark money to fund hand-selected political candidates and politicians amenable to their plans. In the words of Rhode Island Senator, Sheldon Whitehouse, “a band of right-wing billionaires has its hooks deep in [US] government,” casting doubt on the court’s reasonability and justification concerning democracy and the common good.

Sunstein writes that judges must seek “reflective equilibrium,” that consequences of decisions must be thoroughly understood, and if a potential decision could lead to discrimination, favoritism, or other harms, it should automatically be ruled out. Assuming that these judges are abiding by the requirement to consider how to make our constitutional order “better,” then even the broadest application of reflective equilibrium would flag court decisions such as these as failing to achieve what Sunstein describes as “necessary coherence.”

Given the apparent incoherence, contradictions, and hypocrisies in today’s political and legal systems, Sunstein provides the technical particulars needed to analyze the current Court’s use of traditionalism and originalism to backpedal on civil rights. The two theories are similar in that they are backward-looking and prize colonial-era traditions that are all but irrelevant to contemporary life. Unsurprisingly, reading the Constitution through the lenses of traditionalism and originalism makes it impossible to find provisions or protections for reproductive rights; and so, this Court concluded a “rational basis” for revoking abortion rights. Despite the precedent established by Roe, the Court’s majority invoked traditionalism and originalism to gut Roe.

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Sunstein concedes to the fact that abortion is not spelled out in the Constitution but contends that neither is a whole host of rights that we take for granted. He is uneasy about the Court’s display of widening interest in constitutional traditionalism. Would rights such as education or one-person-one-vote come under fire as reproductive rights have? Could this Court seek to narrow the concept of freedom of speech, reeling it back to 1868 or 1789 traditions? What about protections around concepts like race or sex discrimination? Sunstein argues that if we are “comfortable with our First Amendment rights or the Equal Protection Clause,” or, say, sexual privacy, then permitting the Supreme Court to wield antiquated traditions as the best guide to modern life does not square with democracy.

At this stage in the Supreme Court, discussions of traditionalism and originalism must spotlight Leonard Leo, the staunchest supporter of originalism and traditionalism, who, ProPublica reports, is the hidden architect of today’s majority-conservative Supreme Court. Sunstein’s book makes no mention of Leonard Leo, but as a George Mason University alumna, I would be remiss in allowing Leo to linger in the shadows.

ProPublica has illuminated how, as an adviser to Donald Trump, Leo provided the then-presidential candidate and later president with lists of conservative justices and strategies to pack the Supreme Court that we have today. Leo is responsible for the appointments of Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett, Clarence Thomas, John Roberts, and Samuel Alito. For decades, Leo has operationalized his network of opaque nonprofits and dark money groups to promote the dismantling of affirmative action, implement undue voter identification requirements, roll back anti-discrimination protections and, of course, revoke Roe. As if these civil rights repeals are not enough, Leo (and others) have a stealth history of tampering with university administrations and inculcating faculty and staff in the conservative right agenda. Project Censored has previously covered right-wing-dark-money that sought legislation to curb campus free speech, and a 2023 report by the American Association of University Professors illuminates myriad other ways that right-wing-dark-money seeks to undermine academic freedoms more broadly.

The ProPublica report reveals Leo’s lengths to solicit relationships with judges, arranging private jet trips and shared vacations, brokering speaking engagements, and more. “To pay for all of this, Leo became one of the most prolific fundraisers in [US] politics. Between 2014 and 2020, tax records show…more than $600 million [from] donors including Paul Singer, Harlan Crow, and the Koch family.” These examples are a mere surface scratch at Leo’s double dealings in US political and legal systems. To grasp the full force of Leo’s exploits to resurrect so-called “natural order” and “traditional values” (justified through his ultra-conservative version of Catholicism) to the highest law of the land, politics and culture, ProPublica’s extensive investigative reporting is recommended reading.

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As to Leo’s role at George Mason University and why this is alarming, owing to a concerted group of student activists and professors and to information uncovered through the deployment of the Freedom of Information Act, Leo’s behind-the-scenes commandeering of the university’s law school and economics department was made public. Prior to their Supreme Court appointments, justices Gorsuch and Kavanaugh taught constitutional law at George Mason University’s Scalia Law School (renamed as such in 2016 in accordance with Leo’s ideologically funded dictates and allegiance with conservative justice Antonin Scalia). Activists and FOIA helped to expose Leo’s collaboration with Koch Industries and the latter’s funding of the Mercatus Center, a conservative think tank situated within the university’s economics department, with strong ties to the former Trump administration, also responsible for producing climate denial “science” to influence conservative state and federal lawmakers. In its 2019 yearbook, Project Censored featured a story by former George Mason University student Samantha Parsons who wrote about the undue academic control that the Koch family exerted through conditional funding to the university for the purpose of advancing conservative ideology and corporate wealth.

It should be duly noted that Leo’s involvement in Washington, DC, area universities does not stop at George Mason University. Considering the pipeline running from the capital region’s universities to the courts and Congress, additional reporting sheds light on Leo’s purchase of favors and of faculty, political, and court appointments. George Mason University professor Beth Letiecq warns of Leo’s and Koch’s capture of law schools and economics departments to serve their own political agendas. According to Slate, more than $50 million of Koch funding “transformed GMU into the nation’s nerve center for libertarian-conservative law and policy.” Leo’s and Koch’s overreach into faculty decisions and upending of academic freedoms at George Mason University should serve as a “cautionary tale” for other universities, advised Letiecq. Washington’s Catholic University of America’s Columbus School of Law has similarly received monetary incentives from Leo. In a video produced by Catholic University, Leo is on camera claiming that the law school’s “Project on Constitutional Originalism and the Catholic Intellectual Tradition will foster within the broader citizenry a greater appreciation for the way in which those structural limits on government power contained in our constitution really protect and preserve the dignity and worth of the human person.” One question that springs to mind is, Who, by Leo’s calculus, befits the title “human person”?

Reporter John Gehring quoted Isaac Kamola, professor of political science at Trinity College and author of Free Speech and Koch Money: Manufacturing a Campus Culture War (2021), in a December 2022 article for the National Catholic Reporter: “Leo and the Koch network know that political ideas get legitimized in higher education, so they have a sophisticated funding strategy for creating academic centers, influencing law schools and producing these ideologies and legal theories that are then used to justify policies like deregulation of corporations and denying climate science.” Let that sink in.

Rhode Island Senator Sheldon Whitehouse has argued, “It defies reason that the branch of the federal government [the judiciary] with the least direct accountability to the public is not subject to even the most basic lobbying disclosures. The current system is a recipe for corruption of the judiciary.” As reported in an October 2023 Washington Post piece, Senate Democrats are working to subpoena information from Harlan Crow, a close friend and benefactor of Justice Clarence Thomas, to ascertain the full extent of Crow’s gifts to Thomas, and from Leonard Leo for underwriting and organizing lavish travel and luxury gifts for Supreme Court justices. For a rundown on just some of those gifts, see the list published by the Washington Post, or this list by End Citizens United. ProPublica insists that Leo is too entrenched in the courts, legislation, politics, finances, and higher education to be ignored. Echoing that sentiment, stated Kamola to Gehrig, “Leo is fully integrated within a political infrastructure that seeks to radically transform the laws, the lawyers that litigate them, and the judges that interpret them.”

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The between-the-lines takeaway from Sunstein’s book is that constitutional interpretation is highly susceptible to politics and money. Observing the majority-conservative Supreme Court and its ties to right-wing politics and dark money, its predilection for Christian nationalism, and subscription to what the Court’s majority perceives to be “natural order,” Sunstein stresses the importance of the Constitution’s founders’ belief in a deliberative democracy that places “a high premium on accountability.” He also emphasizes that the founders advocated for an “anti-caste principle” to prevent any formation of second-class citizens. How then does this Supreme Court justify its favoritism of billionaires or right-wing Christians not to mention the socioeconomic divisions promoted by those biases? Perhaps another way to ponder this is to analyze whether this Court is capable of honoring its oath to the Constitution, or if it’s more concerned with imposing a conservative belief system on the rest of the nation.

Sunstein’s book, disappointingly, offers no prescription for recourse. However, Ramesh Ponnuru (and others) posit changing the Constitution to impose term limits on Supreme Court justices. Ponnuru presumes that the founders never conceived of today’s lifespans, and proposes several possible, albeit time-consuming, scenarios to implement that change. Perhaps in the future, suggestions put forth by the American Constitution Society (ACS) may lend practical tips for what We the People can do. Beginning with judicial nominations for both state and federal courts, citizens can contact Senators’ offices, co-host events with local ACS chapters, write op-eds in local papers (if your community still has one!), and utilize social media to generate more public awareness around judicial nominations and the funds concealed behind them. Citizens can advocate for transparency in politics and government—something inherent to the functioning of the First Amendment by way of the public’s right to know and checks against corruption.

In an op-ed for Project Censored, Nolan Higdon and Mickey Huff reference the wisdom of historian and activist Howard Zinn (1922-2010), reiterating that “change only occurs through sustained protest and agitation from the citizenry.” Their piece, titled “Did Dobbs Help the Left Rediscover How Political Change is Made?” discusses how after Roe v. Wade was reversed, sustained mass protests resulted in President Biden’s issuance of an executive order directing various federal agencies to take protective measures for access to medical abortion, contraception, and emergency care. Even though the order has limitations, citizen action jolted the president from inaction. Higdon and Huff argue that citizen mobilization could pressure the president to take other actions, such as implementing court reforms or ending the filibuster, campaign financing, or student loan debt.

While Leonard Leo and his cronies strive to surreptitiously purchase justices, legislators, and university faculty to get their way, the Supreme Court’s institutional legitimacy is fast eroding. It is indeed difficult to have faith that a debased Court, whose majority appears to be mired in groupthink, will protect our constitutional, civil, or human rights, or that it will make democracy “better” and secure the public good. For democracy to work, it should go without saying that a fair, unbiased, uncompromised judiciary branch is a bare minimum. Yet, We the People tend to pay little attention to the Supreme Court until a major decision like Roe hits the headlines. Sunstein asked if the First Amendment could be next on the Court’s chopping block. For now, the public still has the right to know and to hold the government to account. What we do with that right may well determine not only the next US president but the fate of democracy.

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‘Sweetpea’ Is a Twisted Spooky-Season Delight: TV Review

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'Sweetpea' Is a Twisted Spooky-Season Delight: TV Review

Consider the bully. This juvenile sadist makes a hobby out of humiliation, intimidation, inflicting pain both physical and emotional. In many cases, they are effective enough at gaslighting to avoid so much as a detention’s worth of punishment. Adults comfort young victims with assurances that bullies are living their glory days in the locker room and have nothing but misery to look forward to. But what is a person supposed to do when she grows up, stays stuck in the claustrophobic town where she was a teenage pariah, takes a soul-crushing job, watches her family disintegrate around her… and her bully, still thriving, just keeps making things worse?

This is the conundrum facing Rhiannon Lewis, the abject antihero of the dark, sneakily funny British thriller Sweetpea, whose first episode is now streaming on the Starz app in advance of its Oct. 10 linear premiere. Played with nervous intensity by Ella Purnell, a breakout star of Yellowjackets and Fallout, Rhiannon works as a receptionist at a local newspaper—where she’s so invisible, the editor (Jeremy Swift from Ted Lasso) tosses his coat on her head as he enters the office. Her interest in an open junior reporter position is treated as a bit of a joke. And her personal life is an even bigger disaster. Friendless and without romantic prospects, she watches helplessly as her ailing father dies in the hospital. Then her sister, Seren (Alexandra Dowling), arrives from abroad for the funeral, with a plan to sell the family home out from under Rhiannon. The real estate agent she’s chosen happens to be the person most responsible for making Rhiannon such a meek, repressed person: her high school bully, Julia (Mood’s Nicôle Lecky).

Episodes of Sweetpea open with a voiceover from Purnell, listing who Rhiannon would like to kill and why. Julia’s crime? “Not peaking at school like bullies are supposed to.” Instead, the girl whose constant abuse made Rhiannon so anxious, she pulled out her own hair and had to buy a wig—which Julia snatched off her head at a school dance—has grown up to be one of the area’s most prominent brokers, smirking out from her firm’s ubiquitous billboards. She’s got the perfect house and the perfect husband (Dino Kelly). She struts around town in glamorous going-out tops with the same mean-girl clique that made her their queen in high school. And now she has the nerve to take from Rhiannon the only thing she has left of her beloved dad?

Sweetpea - Season 1 2024
Nicôle Lecky in SweetpeaSophie Mutevelian—Sky UK

It’s enough to make an emotionally fragile person snap—and Rhiannon does, in spectacularly violent fashion. After she commits her first murder in a burst of misdirected fury, the case becomes front-page news; suddenly our girl is scrambling to both cover her tracks and prove she’s worthy of a promotion by reporting on the crime. Then something unexpected starts to happen. Through her stealth and scheming and, yes, killing, Rhiannon develops something like self-esteem. She demands respect at work. She seduces a handsome former employee of her father’s (Jon Pointing), while being low-key pursued by a witty co-worker (Calam Lynch) who may be a better match. When a manspreader squishes in next to her on a bus, she strokes his leg, watches him recoil, and purrs: “Oh, I’m sorry. Did I make you uncomfortable?”

Billed as a “coming-of-rage story” and based on the novel by C.J. Skuse, Sweetpea begins as a keen character study of a woman who, stunted by a miserable adolescence, does something terrible in a desperate effort to exert control over a life in which she has always felt powerless. In a performance that convincingly mixes ferocity, vulnerability, and quirk, Purnell plays what is essentially the opposite of her Yellowjackets character—a prom-queen type who finds herself ill-equipped for life in a brutal wilderness. Our sympathy for Rhiannon makes her violence cathartic, seeding a discomfort in our own pleasure that grows, without making the show any less entertaining, as her murder spree continues throughout the six-episode season.

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As Julia comes ever closer to selling the house, the balance of power between bully and victim shifts. Rhiannon convinces herself that she’s channeling her victimhood into heroism, ridding the world of people who harass and ridicule and otherwise run roughshod over their sensitive peers. But Julia has a different take. “You’re not a victim,” she scoffs “You’re a f-cking loser who blames everyone else for your sh-t life.” Is it really Julia’s fault that Rhiannon failed to grow out of her awkward stage? And what does Rhiannon truly know about Julia’s life now, based on some billboards and a few tense in-person encounters? Victim and bully turn out not to be mutually exclusive roles. Aggression is cyclical. There’s some truth to the cliché hurt people, hurt people.

Ella Purnell stars as Rhiannon, a quiet wallflower who develops a vengeful and intoxicatingly liberating taste for murder. Rhiannon Lewis doesn’t make much of an impression - people walk past her in the street without a second glance. She’s continually overlooked for a promotion at work, the guy she likes won’t commit, and her dad is really, really sick. Then everything in her life turns upside down. Rhiannon is pushed over the edge and loses control. Suddenly the wallflower is gone, and in its place is a young woman capable of anything… Rhiannon’s life transforms as she steps into a new, intoxicating power, but can she keep her killer secret?
Ella Purnell and Jon Pointing in SweetpeaSky UK

These ideas may sound didactic on paper, but they don’t come across that way on screen. For all its thoughtfulness, Sweetpea has the electricity of a twisted revenge thriller—making it ideal for fans of Dead to Me or Bad Sisters, or anyone else looking for a spooky-season binge with more layered characters, sharp humor, and moral complexity than the latest Ryan Murphy gore fest. While its setup has familiar elements, the show really comes into its own after a couple of episodes, as Purnell and Lecky get more screen time together and a character who shares Rhiannon’s outcast perspective (Leah Harvey’s Marina) starts investigating the murders. 

The season culminates in one of the best cliffhanger finales I’ve seen in a while. Rich fodder for the even crazier second season I hope we’ll get to see, it’s also a reality check on our affinity for a budding serial killer posing as a cub reporter (or is it the other way around?). In getting viewers on Rhiannon’s side early, Sweetpea finds a bountiful source of suspense in the question of whether we’re watching the blossoming of a wallflower or the making of a monster.

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Dozens of UK-linked firms suspected of busting Russian oil sanctions

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Dozens of UK-linked firms suspected of busting Russian oil sanctions

The government is investigating 37 UK-linked businesses for potentially breaking Russian oil sanctions – but no fines have been handed out so far, the BBC can reveal.

Financial sanctions on Russia were introduced by the UK and other Western countries following the invasion of Ukraine in 2022.

Conservative shadow foreign office minister Dame Harriett Baldwin said sanctions were designed to “shut down the sources of finance for Russia’s war machine” and “bring this illegal invasion to an end sooner”.

But critics have claimed they are ineffective after the latest figures showed the Russian economy was growing.

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The Treasury said it would take action where appropriate, but pointed to the complexity of the cases as a reason they take considerable time.

The sanctions include a cap on the price of Russian oil, designed to ensure that oil can keep flowing without Russia making large profits.

The cap prohibits British businesses from facilitating the transportation of Russian oil sold above $60 a barrel.

Data obtained by the BBC using Freedom of Information laws shows the Treasury has opened investigations into 52 companies with a connection to the UK suspected of breaching the price cap since December 2022.

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As of August, 37 of those investigations were live and 15 had concluded, but no fines had been handed out.

The identities of the businesses are unknown but it’s understood some are likely to be maritime insurance firms.

Dame Harriett told the BBC “there is probably more that could be done” by the government and the oil sector itself “because it does appear that UK importers are still bringing in oil that originated in Russia”.

The anti-corruption organisation Global Witness said it was “quite astonishing” that no fines have yet been handed out, and described the oil cap as “a sort of paper tiger” that is failing to crack down on rule breaking.

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Louis Wilson, the head of fossil fuel investigations at Global Witness, called for “bold action” to be taken against companies breaching sanctions.

He said if the UK government “prevents British businesses from enabling Putin’s profiteering, then I think you’ll start to see others following that lead”.

Investigations into potential breaches of the oil cap and other financial sanctions are carried out by a Treasury unit called the Office of Financial Sanctions Implementation (OFSI).

OFSI received an extra £50m of funding in March to improve enforcement of the UK’s sanctions regime

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But Mr Wilson said companies under investigation find it “pretty easy to come by” a document that gets them out of trouble.

He described the documents as “basically promises, voluntary bits of paper” and said they can be easily obtained even if the company was involved in transporting oil sold above the price cap.

“What’s likely is either these businesses will find the paperwork that they need to get through this process, or we’ll see the UK government drop these cases quietly,” he said.

He claimed the US were reluctant to make the Western sanctions regimes harder “because they’re scared that if they do enforce the rules it will stop the Russian oil trade and that will send oil prices higher”.

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Dame Harriett said it was important that when OFSI “find deliberate wrongdoing they are exacting financial penalties”.

A spokesperson for the Treasury said it would take enforcement action “where appropriate” and it was “putting sanction breachers on notice”.

They added that the cap was reducing Russia’s tax revenues from oil, adding that data from the country’s own finance ministry showed a 30% drop last year compared to 2022.

The former chair of Parliament’s Treasury Select Committee launched an inquiry into the effectiveness of sanctions on Russia in February.

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Dame Harriett said she “received evidence that the oil price cap is being evaded by refining Russian oil in refineries based in third countries and then the oil is being exported into the UK.”

Earlier this year the BBC reported on claims about how much oil this so-called “loophole” is allowing into the UK.

But parliamentary committees are disbanded once an election is called and the findings of the Treasury committee inquiry were never published.

It’s understood no decision has yet been made as to whether the new Treasury Select Committee will recommence the work.

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OFSI issued its first Russia-related penalty last month, when it fined a concierge company £15,000 for having a sanctioned individual on its client list.

London-based firm Integral Concierge Services was found to have made or received 26 payments that involved a person whose assets have been frozen as part of the Russia sanctions.

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Guardian making product recommendations for affiliate revenue

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Guardian making product recommendations for affiliate revenue

The Guardian has begun publishing product guides featuring links to shopping websites to target a growing business of affiliate revenue.

The news site has formally launched The Filter, a page it describes as providing “independent product reviews, trustworthy buying advice and sustainable shopping ideas”, following a trial lasting several months.

The Guardian said The Filter is a showcase for the best of its consumer journalism and reviews and recommends products completely independently.

It emphasised that all the articles are free to read, are written by writers chosen for their expertise who will research and test products in real-life scenarios, and that no advertiser or retailer can pay to be included.

The Guardian will earn a small commission if someone clicks on a link on one of the pages and goes on to make a purchase or sign up to a service. Like many other publishers, it is using Skimlinks which places a tracking code in links to be used by publishers so purchases can be correctly attributed. It is also using Amazon Associates programme for that site’s links.

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Articles on The Filter’s homepage on Thursday included round-ups of men’s walking boots, autumn wardrobe updates for under £100, the best electric cars that aren’t Teslas, subscription services “to save you time and money”, and gardening tools.

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Each page features a disclaimer underneath the author byline which reads: “The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link.” It also features a link to The Guardian’s full explainer for readers on affiliate links.

Guardian News and Media chief financial and operating officer Keith Underwood revealed last month that The Guardian would begin making product recommendations, and thus affiliate revenue, “based on the trust that we’ve got within the brand”.

Chief executive Anna Bateson said today: “Building on the Guardian’s trusted brand reputation and deep relationships with our readers, The Filter is a new carefully curated online home offering independent advice for those seeking to buy quality, sustainable products without commercial influence.”

The Guardian joins a stable of publishers that over the past few years have grown their e-commerce/affiliate offerings, including The New York Times with Wirecutter where affiliate grew in Q2, and Mail Online.

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The Independent describes e-commerce as one of its five key strategic growth pillars and revealed this week such revenues were up 26% with highlights including Black Friday and travel content.

E-commerce and affiliates are similarly part of a diversification strategy away from a reliance on advertising at Reach, which said these areas are seeing “promising growth”.

However, Future plc said in its half-year results that affiliate products have been “impacted by the wider macroeconomy, through lower demand as seen in the lower audience numbers, as well as a reduction in the average basket size”.

The latest trends and predictions report from the Reuters Institute for the Study of Journalism published in January listed e-commerce as the fifth most important revenue stream for commercial publishers in 2024

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E-commerce is generally when sites sell products themselves whereas affiliate is when they promote goods from other retailers and earn a commission on click-throughs, although sometimes the terms are used interchangeably.

The Guardian once had its own online shop, selling its own merchandise including a mug that read: “I’m the one The Daily Mail warned you about”, which closed in 2016. The Guardian does still run an online bookshop.

Last month Guardian Media Group, which is owned by The Scott Trust, reported a fall in revenue for the year to 31 March after a four-year growth streak, and rising losses. On the same day it revealed it is considering a sale of Sunday title The Observer to slow news outfit Tortoise Media. Any profits from The Filter will be reinvested back into The Guardian’s journalism.

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Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our “Letters Page” blog

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UK executives dump shares on fears of Labour capital gains tax raid

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Executives have stepped up sales of their shares in UK-listed companies ahead of this month’s Budget, as chancellor Rachel Reeves considers increasing capital gains tax in a bid to bolster public finances.

Since Britain’s July 4 election, directors of listed companies have sold shares at an average rate of £31mn a week, more than double the £14mn pace of the previous six months, regulatory filings show.

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The total value of disposals since election day has reached around £440mn, according to the figures compiled by investment platform AJ Bell.

Government insiders have confirmed Reeves is weighing a CGT increase as part of a multibillion-pound effort to fill a hole in the public finances.

Some business owners are also speeding up plans to offload their companies altogether to avoid the potential CGT rise, according to a survey by wealth manager Evelyn Partners.

At present CGT rates on share disposals or the sales of businesses tend to range between 10 per cent and 20 per cent.

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The chancellor said in an interview with the Financial Times last week that she would not do anything that might hit growth. “We are approaching it in a responsible way and we need to make sure we aren’t reducing investment into Britain,” she said.

On Monday, Reeves and Prime Minister Sir Keir Starmer will host a global investment summit in London, insisting that Britain is a great place to do business, but the shadow of a tax-raising Budget hangs over the event.

Several executives who have sold shares told the FT they took the decision due to fears about the October 30 Budget. They cited worries that a move to raise CGT could lead to further investor outflows.

“My sale was purely down to concerns about the CGT changes,” said one executive at a London-listed firm who sold shares in September. “The chancellor’s approach of leaving the whole economy in limbo over potential changes is not at all helpful.”

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Another executive at a company quoted on London’s junior Aim market who also made disposals last month said they were worried changes in CGT could deter future investors. “People will be more reluctant to risk their capital,” they said.

The FTSE Aim All-Share index is down 3.5 per cent so far this year.

Bar chart of Average disposals (£mn) showing Weekly share sales have more than doubled post-election

CGT, which raised £14.4bn in 2022-2023, is paid by about 350,000 people but just 12,000 of them account for two-thirds of the total intake.

The survey by Evelyn Partners also found that nearly a third of the 500 business owners who had fast-tracked their exit plans over the past year had done so because of concerns about a possible rise in CGT.

A fifth of the businesses said they were looking to accelerate an exit due to a potential cut in inheritance tax relief, which meant it could be more expensive to pass on a company to the next generation.

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“People are running out of time to make these decisions ahead of the Budget and the risk is that they panic,” said Chris Etherington, partner at accounting firm RSM UK. “Everyone has October 29 as a hard deadline.”

Independent research published on Friday by the Centre for the Analysis of Taxation suggested a CGT overhaul could raise up to £14bn a year for the government.

The study looked at the possible effects of a comprehensive reform package that broadens the tax base and brings CGT rates into line with income tax.

Anna Leach, chief economist at the Institute of Directors, said businesses were concerned they would bear the brunt of tax changes after Labour ruled out rises for working people. “They have ruled out everybody else,” she said.

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“Ambiguity around tax increases is hitting confidence and all the doom and gloom from government is making businesses ask whether the pain is worth it,” she added.

Portfolio managers and tax planners said that Labour’s silence ahead of a crunch fiscal event that will set the tone of the administration was leading clients to “fill the void”.

Laura Foll, a fund manager at Janus Henderson, added that the “information gap” about Labour’s plans, together with the government’s negative tone about public finances, had led investors to plan for a “worst-case scenario”.

The government says it needs to fill a £22bn “black hole” left by the previous Conservative administration.

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In response to questions about the share sales, the Treasury said it was committed to encouraging companies to grow and list in the UK.

“The chancellor makes decisions on tax policy at fiscal events,” it added. “We do not comment on speculation around tax.”

Additional reporting by George Parker and Sam Fleming

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Charming seaside village named one of UK’s most festive places – with huge lights display and famous Christmas pie

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Mousehole in Cornwall's Christmas lights have become a famous attraction in recent years

A VILLAGE in Cornwall is considered one of the most magical places to visit at Christmas.

Mousehole, just less than three miles south of Penzance, is transformed into a festive spectacle come beginning of December.

Mousehole in Cornwall's Christmas lights have become a famous attraction in recent years

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Mousehole in Cornwall’s Christmas lights have become a famous attraction in recent yearsCredit: Alamy
The lights decorate the harbour and appear from mid December to early January

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The lights decorate the harbour and appear from mid December to early JanuaryCredit: Alamy

Its annual Christmas lights adorn the harbour, usually from mid December.

But there’s not just a couple of lights – there’s an estimated 7,000 bulbs that light up every evening.

The lights, that illuminate the village until early January, started in 1963, and made Timeout’s list of best Christmas towns to visit this year.

They’ve now become a famous attraction., with around 30,000 people visiting them each year.

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There are Christmas puddings, reindeer and even Santa’s sleigh.

The display also includes a 150-foot-long ‘Merry Christmas’ sign and a festive serpent.

People who have visited Mousehole for the lights have labelled them “iconic”.

One person took to Tripadvisor and wrote: “Lived in Cornwall for some years now, but never made it to the lights for various reasons!

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The Polar Express offers the experience of a train ride set to the sounds and songs from the family favourite holiday movie The Polar Express

“Today we did and giving braved the queues we park back on the road and walked in. Lights are very pretty and impressive with a very good duo singing next to the harbour. Very worthwhile put us in the Christmas mood for sure.”

Alongside the Christmas lights, there’s an annual festival on December 23rd called Tom Bawcock’s Eve.

It’s a yearly celebration that commemorates a local fisherman who risked his life to save his community from starvation.

According to the story, Tom Bawcock braved a Winter storm to fish and return to Mousehole with seven different types of fish. 

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The villagers were so grateful that they baked a large pie with the fish, eggs, and potatoes, and the fish heads and tails stuck out of the top. 

The same pie, now known as ‘Stargazy Pie’, is still made today and eaten on December 23rd.

The pie is served at the only pub in Mousehole, The Ship Inn, once a year.

Other Christmas attractions near Mousehole include the Marazion to Mousehole coastal walk, a walk that offers views of some of West Cornwall’s best Christmas light displays.

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The Eden Project is also not too far away and puts on a Christmas show with lights, lanterns, ice skating, and a Christmas fair.

Christmas towns to visit around the world

Rothenburg ob der Tauber, Germany – The town has multiple Christmas markets, including the traditional Reiterlesmarkt, which dates back to the 15th century. There’s also the Christmas Museum that explains how Christmas was celebrated in Germany in the past, and how customs developed in different regions. 

North Pole, USA – a Christmas-themed town that celebrates the holidays year-round. The town is decorated with candy cane-shaped street lights, and residents leave holiday decorations up all year.

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Rovaniemi, Finland – located in the Arctic Circle, this family-friendly destination is home to Santa, reindeer and huskies. Visitors can meet Santa and send letters from the Santa Claus Main Post Office.

Strasbourg, France – it;s known as the ‘Capital of Christmas’ because of its annual Christmas market, which is one of the oldest in Europe.

Santa Claus, USA – Santa Claus, Indiana is a town that celebrates Christmas all year long because of its name, its holiday-themed attractions, and its post office. The town was originally named Santa Fe, but was renamed Santa Claus in 1856 when the government rejected its post office application due to a naming conflict with another Indiana town. 

Mousehole, Cornwall – Christmas in Mousehole, Cornwall is marked by the village’s famous Christmas lights. A local tradition that begins with the gradual turning on of the lights from December 12–17th. The lights illuminate the harbor and village, and are a popular attraction for thousands of visitors each year. 

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Each year, around 30,000 people visit Mousehole for the harbour lights

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Each year, around 30,000 people visit Mousehole for the harbour lightsCredit: Alamy

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If Not Now holds nationwide Oct. 7 vigils for Jews in solidarity with Palestine

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If Not Now holds nationwide Oct. 7 vigils for Jews in solidarity with Palestine
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On Oct. 7, thousands of American Jews with the organization If Not Now held vigils around the US to grieve the tens of thousands of Palestinian, Lebanese, and Israeli lives collectively lost over the past year. For many anti-Zionist Jews, the past year has been a time when their political commitments and principles have been put to the test. While the Biden and Netanyahu governments continue to weaponize antisemitism to justify the genocide in Gaza, many Jewish people are instead taking up the banner of justice and equality for Palestinians. The Real News reports from DC, speaking directly with organizers working with the Jewish American community to demand an arms embargo of Israel.

Production/Post-Production: Jaisal Noor


Transcript

The following is a rushed transcript and may contain errors. A proofread version will be made available as soon as possible.

Eliana Golding:

Our tears are abundant enough and our hearts are big enough to grieve for every life taken, every universe destroyed, whether Palestinian, Lebanese, or Israeli. It is not either or. We need one another. Jews cannot be safe if Palestinians are not safe and free.

Jaisal Noor (Narrator):

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On October 7th, hundreds of American Jews held a vigil in Washington D.C to solemnly commemorate the one-year mark since the Hamas attack that killed 1,100 Israelis, and to condemn Israel’s continued genocide in Gaza that’s killed tens of thousands of Palestinians, though one study estimated in June that up to 186,000 or even more deaths could be attributed to the current conflict.

Lauren Maunus:

We grieve the continuing genocide in Gaza, which we as Jews, many of whom had ancestors killed in the Holocaust, recognize as an attempt to wipe a people out.

Jaisal Noor (Narrator):

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Speakers also condemn the ongoing attacks against Palestinians in the West Bank.

Eliana Golding:

We grieve for the hundreds of Palestinians killed in the West Bank by the Israeli military and settlers, many of them in violent pogroms, reminiscent of those unleashed against our ancestors. We grieve for Palestinians continually displaced through occupation and apartheid.

Jaisal Noor (Narrator):

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And Israel’s escalating attacks in Lebanon.

Lauren Maunus:

It is unimaginable that a full year later we are seeing similar scenes in Lebanon to those we saw in Gaza. Residential buildings bombed to rubble, Israeli and American officials using dehumanizing rhetoric to justify massacres of civilians and no ends to the violence in sight.

Jaisal Noor (Narrator):

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The action was organized by If Not Now, a Jewish organization dedicated to fighting for Palestinian equality. Organizers said 4,000 turned out for vigils across Boston, Chicago, New York, Los Angeles, and Philadelphia. While they mourned each Jewish life lost over the past year, their message contrasted sharply with mainstream Jewish organizations. Speakers demanded an immediate ceasefire and an end to US weapon shipments to Israel.

Ethan Miller:

While we grieve today, we also are taking action to ensure that there’s not another sent to Israel to be used to kill any number of more innocent people, and that as American Jews, our voices need to be heard.

Jaisal Noor (Narrator):

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Among the speakers was Lily Greenberg-Call, the first Jewish Biden administration appointee to resign over the U.S.’s ongoing support of Israel’s war on Gaza.

Lily Greenberg-Call:

I felt that, one, I needed to leave to be in integrity with myself, that I could not represent the President as he is making Jewish people the face of the American War machine, and using our trauma and our pain to justify slaughter of another people, and that I would actually potentially have more power to change this and to end what’s happening if I stepped out and if I resigned.

Jaisal Noor (Narrator):

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Organizers emphasized that criticizing Israeli policy is not inherently anti-Semitic, and highlighted the challenge of speaking out for Palestinian rights in Jewish spaces.

Lily Greenberg-Call:

And I think the greatest threat for Jews remains white supremacy and white nationalism. And it’s very convenient for those people, especially to conflate anti-Semitism with critique of the state of Israel, because it distracts from the real threat. The only thing that will keep Jews safe is a multiracial democracy. And there’s a lot of people in this country, especially who are invested in fighting against that.

Jaisal Noor (Narrator):

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Speakers emphasized Jewish safety will not be achieved through what they repeatedly named as Israel’s genocide in Gaza.

Lily Greenberg-Call:

We are here to really emphasize that the only way out of this is a new politics that values every single human life as equal, as dignified. And the only way to get to a thriving future for Palestinians and Israelis is a ceasefire and an end to the occupation and apartheid.

Jaisal Noor (Narrator):

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For the Real News, this is Jaisal Noor reporting from Washington.

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