National Health Service consultants in England have accepted a pay deal to end a year-long dispute with the government.
Strikes over the past two years have heaped pressure on the NHS, with more than seven million patients in England on waiting lists for hospital treatment, leading to thousands of cancelled appointments and procedures.
The pay deal will increase the salaries of junior consultants by £11,000 ($13,900) from the start of the year, includes a £3,000 boost for those who have been consultants between four and seven years and will raise the starting salaries of the most senior consultants to £132,000 a year. The accepted terms are in addition to the 6 per cent pay increase awarded during a remuneration review process last summer.
The British Medical Association (BMA) said the deal was good for consultants and patients and would help to cut gender pay disparity.
There has been a series of strikes by medical staff including nurses, junior doctors and ambulance crew in an effort to obtain bigger pay rises in the face of high inflation and a cost-of-living crisis.
The strikes have also had political fallout because the NHS is funded by taxpayers and health care is priority issue for voters.
The BMA said 83 per cent of its members in England voted in favour of the deal. It includes changes to the review body on doctors' and dentists' remuneration (DDRB).
“These changes mean that the DDRB can no longer ignore the historical losses that doctors have suffered or the fact that countries abroad are competing for UK doctors with the offer of significantly higher salaries,” the BMA said. "The offer also improves on the previous proposal to reform the consultant pay scale."
UK Prime Minister Rishi Sunak welcomed the agreement between his government and consultants. “The end of consultant strike action in the NHS is excellent news for patients," he said. "It will mean we can continue making progress towards our goal of cutting the waiting lists, which have now fallen for the fourth month in a row.
“Consultants perform a vital role at the heart of the NHS. I’m pleased they’ve accepted this deal, which is fair for them and fair for the taxpayer.”
The BMA, which has about 190,000 members, recommended that senior doctors vote to accept the new offer.
"After years of repeated real-terms pay cuts, caused by government interference and a failure of the pay review process, consultants have spoken and now clearly feel that this offer is enough of a first step to address our concerns to end the current dispute," said Dr Vishal Sharma, who leads the BMA Consultants Committee.
"At the heart of this dispute was our concern for patients and the future sustainability of the NHS. Without valuing doctors, we lose them. Without doctors, we have no NHS and patients suffer.
"But the fight is not yet over. This is only the end of the beginning, and we have some way to go before the pay consultants have lost over the last 15 years has been restored. Therefore, all eyes will be on this year's pay review round, recommendations from the DDRB and response from the government."
NHS nurses ended strike action last year after a pay deal. A long-running pay dispute between the government and junior doctors, who staged a five-day strike in February, has not yet been resolved.
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
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Results
UAE beat Nigeria by five wickets
Hong Kong beat Canada by 32 runs
Friday fixtures
10am, Tolerance Oval, Abu Dhabi – Ireland v Jersey
7.30pm, Zayed Cricket Stadium, Abu Dhabi – Canada v Oman
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
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Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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Engine: Dual-motor all-wheel-drive electric
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The specs
Engine: 2.0-litre 4-cyl turbo
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Transmission: 6-speed auto
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The specs
Engine: 1.5-litre turbo
Power: 181hp
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Transmission: 6-speed automatic
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Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
COMPANY%20PROFILE
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Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01