British Prime Minister Keir Starmer attends the Labour Party's annual conference in Liverpool on Sunday. Reuters
British Prime Minister Keir Starmer attends the Labour Party's annual conference in Liverpool on Sunday. Reuters
British Prime Minister Keir Starmer attends the Labour Party's annual conference in Liverpool on Sunday. Reuters
British Prime Minister Keir Starmer attends the Labour Party's annual conference in Liverpool on Sunday. Reuters

UK Labour Party gathers after rocky start in power


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This should be a time of celebration for Britain's Labour Party, which opens its annual conference on Sunday, less than three months after winning power in a landslide to put an end to 14 years in opposition.

But it is no victory lap for Prime Minister Keir Starmer.

His government faces a battered economy and an electorate impatient for change. The mood among Labour members as they gather in Liverpool has been further dampened by a tempest over Mr Starmer's acceptance of free clothing at a time when millions of people are struggling with a cost of living crisis.

Mr Starmer insists he followed the rules when he took clothes and designer glasses from Waheed Alli, a media entrepreneur and longtime Labour donor. But after days of negative headlines, the party now says Mr Starmer will not accept any more free outfits.

“I get that people are angry,” said Deputy Prime Minister Angela Rayner, who also accepted donations to pay for clothing.

“But donations for gifts and hospitality and monetary donations have been a feature of our politics for a very long time. People can look it up and see what people have had donations for, and the transparency is really important.”

Mr Starmer won the July 4 election on a promise to “restore politics as a force for good” after 14 scandal-tarnished years under the Conservatives. He vowed to get the country's sluggish economy growing and restore frayed public services, such as the National Health Service.

Since then, he has struck a gloomy note, saying there is a £22 billion ($29 billion) “black hole” in the public finances left by the Conservative government, and warned that “things will get worse” before they get better. One of the government's first major acts was to strip millions of retirees of a payment intended to help heat their homes in winter.

Mr Starmer also had to deal with anti-immigrant unrest that erupted after three children were stabbed to death in Southport, near Liverpool in July. Mr Starmer responded firmly, pledging swift justice and tough sentences for rioters. But prison overcrowding, a legacy of the last government, meant hundreds of inmates had to be freed early to make way for the newly convicted rioters.

Then came the clothing scandal, dubbed “frockgate” after dresses gifted to the Prime Minister’s wife, Victoria Starmer.

Mr Starmer is also facing grumbling among his own employees over the salary of his chief of staff, Sue Gray. The BBC disclosed that she is paid £170,000 a year – about £3,000 more than Mr Starmer himself. The government says it was not involved in setting the pay scale for political advisers.

Labour says that the criticism is being whipped up by the Conservatives and their media supporters. But polls suggest it has hurt. An Ipsos poll released Friday found 25 per cent of respondents thought Mr Starmer was doing a good job – down from 36 per cent in July – while 42 per cent thought he was doing a bad job, up from 14 per cent. The firm interviewed 1,082 adults by telephone and the margin of error is plus or minus three percentage points.

“He promised to be different, but he hasn’t been,” Conservative MP Chris Philp told the BBC. “He is not running a government of service, he is running a government of self-service.”

The bad news has alarmed many Labour members, who worry worse is to come in the form of tax increases and spending cuts when the government announces its first budget on October 30.

Labour leaders will try to convey a more positive message when Chancellor of the Exchequer Rachel Reeves makes a televised conference speech on Monday, followed by Mr Starmer on Tuesday. They’re hoping to inject some cheer into the four-day conference, a blend of pep rally, policy forum and boozy bash that plays a key role in maintaining morale among party activists.

The government argues that it has already made a string of positive changes, including ending a wave of public-sector strikes. In the coming weeks, it plans legislation to take public ownership of the railways, set up a state-owned green energy firm, impose tougher rules on water firms that dump sewage and strengthen rights for workers and tenants.

Victoria Honeyman, professor of British politics at the University of Leeds, said Labour’s first months in office were destined to be difficult because voters’ expectations were so high.

“But they have made mistakes,” she said. “The business with the clothing, it’s not a terminal blow, but it’s the kind of thing that will stick in people’s minds for a certain amount of time and could so easily have been avoided.

“It smacks of a lack of attention or a lack of caution, neither of which are good looks.”

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  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
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  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
RESULTS

Women:

55kg brown-black belt: Amal Amjahid (BEL) bt Amanda Monteiro (BRA) via choke
62kg brown-black belt: Bianca Basilio (BRA) bt Ffion Davies (GBR) via referee’s decision (0-0, 2-2 adv)
70kg brown-black belt: Ana Carolina Vieira (BRA) bt Jessica Swanson (USA), 9-0
90kg brown-black belt: Angelica Galvao (USA) bt Marta Szarecka (POL) 8-2

Men:

62kg black belt: Joao Miyao (BRA) bt Wan Ki-chae (KOR), 7-2
69kg black belt: Paulo Miyao (BRA) bt Gianni Grippo (USA), 2-2 (1-0 adv)
77kg black belt: Espen Mathiesen (NOR) bt Jake Mackenzie (CAN)
85kg black belt: Isaque Braz (BRA) bt Faisal Al Ketbi (UAE), 2-0
94kg black belt: Felipe Pena (BRA) bt Adam Wardzinski (POL), 4-0
110kg black belt final: Erberth Santos (BRA) bt Lucio Rodrigues (GBR) via rear naked choke

RESULTS

2pm: Maiden Dh 60,000 (Dirt) 1,400m. Winner: Masaali, Pat Dobbs (jockey), Doug Watson (trainer).

2.30pm: Handicap Dh 76,000 (D) 1,400m. Winner: Almoreb, Dane O’Neill, Ali Rashid Al Raihe.

3pm: Handicap Dh 64,000 (D) 1,200m. Winner: Imprison, Fabrice Veron, Rashed Bouresly.

3.30pm: Shadwell Farm Conditions Dh 100,000 (D) 1,000m. Winner: Raahy, Adrie de Vries, Jaber Ramadhan.

4pm: Maiden Dh 60,000 (D) 1,000m. Winner: Cross The Ocean, Richard Mullen, Satish Seemar.

4.30pm: Handicap 64,000 (D) 1,950m. Winner: Sa’Ada, Fernando Jara, Ahmad bin Harmash.

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
UAE SQUAD

Khalid Essa, Ali Khaseif, Fahad Al Dhanhani, Adel Al Hosani, Bandar Al Ahbabi, Mohammad Barghash, Salem Rashid, Khalifa Al Hammadi, Shaheen Abdulrahman, Hassan Al Mahrami, Walid Abbas, Mahmoud Khamis, Yousef Jaber, Majed Sorour, Majed Hassan, Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Khalil Al Hammadi, Fabio De Lima, Khalfan Mubarak, Tahnoon Al Zaabi, Ali Saleh, Caio Canedo, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

Starring: Jamie Foxx, Angela Bassett, Tina Fey

Directed by: Pete Doctor

Rating: 4 stars

SPEC%20SHEET%3A%20APPLE%20IPAD%20(2022)
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COMPANY%20PROFILE
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MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 

The Kites

Romain Gary

Penguin Modern Classics

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

 

 

AS%20WE%20EXIST
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US tops drug cost charts

The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.

Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.

In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.

Some of the costliest drugs worldwide include Lipitor for high cholesterol. 

The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.

High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.

MATCH INFO

Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')

Leeds United 0 

All the Money in the World

Director: Ridley Scott

Starring: Charlie Plummer, Mark Wahlberg, Michelle Williams, Christopher Plummer

Four stars

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

Updated: September 22, 2024, 12:10 PM