LONDON: British Prime Minister Rishi Sunak and Rwandan President Paul Kagame are looking forward to the first flights under Britain’s plan to deport asylum seekers to Rwanda departing in the spring, a readout of their meeting said on Tuesday.
Sunak wants to relocate thousands of asylum seekers who arrive in Britain on small boats each year to Rwanda, but legal challenges have so far prevented anyone being sent there.
Following a meeting between Sunak and Kagame in London, Sunak’s office said: “Both leaders looked forward to flights departing to Rwanda in the spring.”
Before any flight can depart, Britain’s government needs to pass new legislation which Sunak hopes will pave the way for the government to send asylum seekers who arrive in Britain without permission to the east African country.
Legislation that seeks to block further court challenges to the plan will next be debated in parliament on April 15.
Sunak has previously said he expects the first flights to leave in the spring — ahead of a national election expected in the second half of this year.
UK and Rwanda look forward to first migrant deportation flights in spring
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UK and Rwanda look forward to first migrant deportation flights in spring
- Sunak wants to relocate thousands of asylum seekers who arrive in Britain on small boats each year to Rwanda
- Legislation that seeks to block further court challenges to the plan will next be debated in parliament on April 15
Britain needs ‘AI stress tests’ for financial services, lawmakers say
- Lawmakers urge AI-specific stress tests for financial firms
LONDON: Britain’s financial watchdogs are not doing enough to stop artificial intelligence from harming consumers or destabilising markets, a cross-party group of lawmakers said on Tuesday, urging regulators to move away from what it called a “wait and see” approach.
In a report on AI in financial services, the Treasury Committee said the Financial Conduct Authority and the Bank of England should start running AI-specific stress tests to help firms prepare for market shocks triggered by automated systems.
The committee also called on the FCA to publish detailed guidance by the end of 2026 on how consumer protection rules apply to AI, and on the extent to which senior managers should be expected to understand the systems they oversee.
“Based on the evidence I’ve seen, I do not feel confident that our financial system is prepared if there was a major AI-related incident and that is worrying,” committee chair Meg Hillier said in a statement.
TECHNOLOGY CARRIES ‘SIGNIFICANT RISKS’
A race among banks to adopt agentic AI, which unlike generative AI can make decisions and take autonomous action, runs new risks for retail customers, the FCA told Reuters late last year.
About three-quarters of UK financial firms now use AI. Companies are deploying the technology across core functions, from processing insurance claims to performing credit assessments.
While the report acknowledged the benefits of AI, it warned the technology also carried “significant risks” including opaque credit decisions, the potential exclusion of vulnerable consumers through algorithmic tailoring, fraud, and the spread of unregulated financial advice through AI chatbots.
Experts contributing to the report also highlighted threats to financial stability, pointing to the reliance on a small group of US tech giants for AI and cloud services. Some also noted that AI-driven trading systems may amplify herding behavior in markets, risking a financial crisis in a worst-case scenario.
An FCA spokesperson said the regulator welcomed the focus on AI and would review the report. The regulator has previously indicated it does not favor AI-specific rules due to the pace of technological change.
The BoE did not respond to a request for comment.
Hillier told Reuters that increasingly sophisticated forms of generative AI were influencing financial decisions. “If something has gone wrong in the system, that could have a very big impact on the consumer,” she said.
Separately, Britain’s finance ministry appointed Starling Bank CIO Harriet Rees and Lloyds Banking Group ‘s Rohit Dhawan as “AI Champions” to help steer AI adoption in financial services.
