Summary

  • The government has begun the process of selling off its stake in RBS - raising £2.1bn from a 5.4$%

  • The UK is to extend air strikes by RAF Tornados against the Islamic State group by an extra year

  • Labour leadership contender Jeremy Corbyn launches his economic plans for the north

  • Fellow contender Andy Burnham unveils plans to cut rail season tickets for part-time workers

  • An inquiry is under way about how police handled child abuse allegations against ex-PM Sir Edward Heath

  1. Afternoon recappublished at 17:10

    Here's a selection of the main political developments of the day:

    * It has now emerged that ex-Prime Minister Sir Edward Heath is being investigated by four police forces as part of their inquiries into allegations of historical child abuse.

    * Labour leadership front-runner  Jeremy Corbyn has called for the re-industrialisation of the north of England by boosting spending on the arts, transport, housing and broadband.

    * Ex Home Secretary Alan Johnson has backed Yvette Cooper for Labour leader , external and urged the party to "end the madness" of the growing support for Mr Corbyn.

    * There has been a political row about the government's decision to begin its sell-off of shares in part-nationalised lender Royal Bank of Scotland , raising £2.1bn, a third below the price it paid.

    * Hospitals and health trusts in England have been told by regulators to look again at their financial plans as current ones are "simply unaffordable".

    That's it from us for the day - but we'll continue to bring you all the latest political news  and don't forget to watch Newsnight at 10.30pm (either on this page or on BBC Two) which features a Jeremy Corbyn interview...

  2. Osborne: 'Favourite to become leader'published at 17:06 British Summer Time 4 August 2015

    Spectator assistant editor tweets...

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  3. Suffragette release datepublished at 16:55

    There won't be as long as expected to wait to see Carey Mulligan, Helena Bonham Carter, Brendan Glesson, Anne-Marie Duff and Meryl Streep star in a new film about the suffragette's battle for women to get the vote. 

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  4. The UK and the Greek bailoutpublished at 16:50

    Tourists on the Acropolis Hill in AthensImage source, AP

    The European Council says the UK and other EU countries outside the eurozone will be compensated for any liabilities stemming from the latest EU bailout to Greece. Conservative MPs have been seeking assurances that the UK would not lose out in the event of the EU-wide European Financial Stabilisation Mechanism, to which the UK is party, being used to provide £4.9bn in emergency funding to Athens. In a statement, the Council said it had agreed to amend existing regulations to that effect. 

    Quote Message

    The regulation ensures that financial assistance from the EFSM to a euro area member state will only be granted if legally binding provisions are in place guaranteeing that non-euro area member states are immediately and fully compensated for any liability they may incur as a result of a failure by the beneficiary to repay the financial assistance in accordance with its terms."

    European Council statement

  5. Fourth police force investigating Heath claimspublished at 16:43

    Dominic Casciani
    Home Affairs Correspondent

    Kent Police has become the fourth police force to confirm that it is investigating claims that the former Prime Minister Sir Edward Heath was involved in sexual abuse.

    In a statement, the force told the BBC: "Kent Police has today received a report of a sexual assault having been committed in East Kent in the 1960s. The victim has named Sir Edward Heath in connection with the allegation. Detectives are making initial enquiries, and will obtain a full account from the victim." 

    The other forces investigating claims relating to the former Prime Minister are Wiltshire and States of Jersey Police. The BBC understands the Met Police is also investigating the late MP.

  6. Is Cooper 'anyone but Corbyn' candidate?published at 16:32

    Labour shadow minister tweets...

    Another Labour MP draws attention to Alan Johnson's endorsement of Yvette Cooper - is this an orchestrated attempt to push the "anyone but Corbyn" candidate that some in the party have been calling for?

  7. 'End the madness'published at 16:25

    Labour MP tweets...

    One of the new intake of Labour MPs, Matthew Pennycook, endorses Alan Johnson's endorsement of Yvette Cooper for leader. 

  8. Corbyn 'exudes sincerity'published at 16:20

    Conservative MEP tweets...

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  9. Election loss like 'Roman execution'published at 16:17

    A former Lib Dem special adviser describes election night feelings

    Peter Carroll, former special adviser to Danny AlexanderImage source, Peter Carroll

    Peter Carroll, who was special adviser to the Lib Dem Treasury minister Danny Alexander, has told the BBC what it was like for him and the party on election night.

    In an interview for the World at One he talks frankly about the "awful pause" before the exit poll was unveiled, showing the party had lost more than 45 of its Westminster seats.

    Talking to political correspondent Eleanor Garnier, he said his immediate reaction was "oh no,.... please let that be wrong".

    He said the party's defeat was so "painful, public and massive.... it was a bit like a Roman execution in the amphitheatre". 

    Danny Alexander lost his seat in the tide of SNP gains in Scotland.

    Peter Carroll, who stood for Parliament himself in 2010, is now running a consultancy, but hasn't ruled out a return to the political front line.

  10. Four hour delays at Folkestonepublished at 16:04

    Screen grabImage source, Eurotunnel website

    Foreign Secretary Philip Hammond said yesterday the UK and France had "got a grip" on events in Calais. Not sure those having to wait for four hours to get across to the continent will be convinced...

  11. Corbyn on Newsnightpublished at 16:02

    BBC Newsnight tweets...

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  12. Churchill to greet No voterspublished at 15:33

    UK Parliament websiteImage source, UK Parliament website

    A painting by Sir Winston Churchill entitled 'Coast scene near Cannes' is set to be put on permanent display in the No division lobby of the House of Commons, according to the UK Parliament's website., external

  13. Former Heath aide 'surprised and shocked'published at 15:27

    Former UK Prime Minister Sir Edward Heath

    The former private secretary to Sir Edward Heath has expressed surprise and shock that the former prime minister is being investigated by three police forces as part of their inquiries into allegations of historic child abuse.

    Speaking to the BBC, Robert Vaudry - who worked for Sir Edward from 1988 to 1992 - said, "I spent four years working for Ted and we ran his life like a military campaign. We knew what he was doing every minute of every day through that four year period so to think there were things going on that we weren't aware of, very surprised and shocked, incredulous really." 

  14. Alan Johnson backs Yvette Cooperpublished at 15:13

    Former Home Secretary Alan Johnson

    Former Home Secretary Alan Johnson has confirmed he is backing Yvette Cooper for the next Labour leader. Writing in the Guardian, external, Mr Johnson said Labour should "end the madness" of the growing support for Jeremy Corbyn and elect Yvette Cooper who has the "experience and inner steel" to succeed as the next Labour leader.

    The MP for Hull West and Hessle said: “In my view only Yvette Cooper can unite the party to win again. Those members who can’t give her their first preference should give her their second. After over a century of male leaders we have an election where the most qualified candidate to lead our party back to government happens to be a woman. Let’s end the madness and elect her.”

  15. Shapps in South Sudan talkspublished at 15:09

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  16. Dromey: I'm backing Yvette Cooperpublished at 14:37

    Labour MP tweets...

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  17. Andy Burnham sets out 'big vision'published at 14:30

    Labour leadership contender tweets...

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  18. Corbyn on RBS sell-off and Iraqpublished at 14:15

    Labour leadership candidate Jeremy Corbyn

    Labour leadership candidate Jeremy Corbyn has told the BBC the sell-off of RBS shares is "a great mistake" 

    Mr Corbyn said, "It's being sold at a loss which is not good, but secondly we took RBS into public ownership because of the way it had been run. I think we should be using RBS as a very important investment tool so that we could assert our public control of it, to ensure they invest in infrastructure and manufacturing rather than the way they do things at the present time."

    "The timing is bad from the point of view if you want to get a maximum return. I don't want a maximum return, I want the maximum benefit for the entire economy." 

    Mr Corbyn also said he was very concerned that the UK would be extending Tornado aircraft strikes in Iraq for a further year.

    "I think further bombing is actually going to inflame the situation, it's going to lead to a lot of civilian casualties and therefore I'm not in favour of continuing the bombing or extending the bombing into Syria. There has to be some process where you bring together a coalition of the neighbouring countries to stop the supply of arms to ISIL, to stop the supply of money to ISIL, and stop the purchasing of oil from ISIL."

  19. Hear from the special adviserspublished at 13:54

    BBC political correspondent tweets...

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  20. Unite: RBS decision 'an utter disgrace'published at 13:40

    The World at One
    BBC Radio 4

    Rob MacGregor, who's the national officer for finance at the trade union Unite, has described the government's sell-off of RBS shares as "an utter disgrace". 

    Quote Message

    I think the UK taxpayer has been short-changed to the tune of about £1bn on this sale. And if the rest of the shares owned by the UK government are sold with the same discount, we will be looking at a loss to the British people of around about £14bn.... I don't think this is being done for commercial reasons, I think actually this is being done for purely political reasons, and quite frankly if the chancellor had any shame whatsoever he'd actually admit to that".