Chris Blackhurst is a former editor of The Independent, based in London
August 11, 2021
Boris Johnson quips about the closure of coalmines while on a visit to Scotland and the Labour leader, Sir Keir Starmer, and the Scottish First Minister, Nicola Sturgeon, vent their disgust. Not just them, the Welsh First Minister, Mark Drakeford, and union leaders and other Opposition figures; some Tories too.
Not for the first time the call goes up: Boris, Boris, what have you done? What he said, in the context of the UK switching to greener fuels, was this: “Thanks to Margaret Thatcher, who closed so many coalmines across the country, we had a big early start and we’re now moving rapidly away from coal altogether.”
There are screams for an apology but none is forthcoming. All his official spokesman will say is: “The prime minister recognises the huge impact and pain closing coalmines had in communities across the UK.”
Nor will there be. Johnson knew what he was doing, he gauged what the reaction would be, it was said to poke and to startle, it was a calculated act. He isn’t going to say sorry for that.
He made it clear the comment was intended as a joke, and said to reporters: “I thought that would get you going.” Hang on, so this wasn’t blurting; this was deliberately said, pre-planned and considered.
It’s easy to dismiss Johnson as a buffoon who chucks out the first thing that comes into his head. That’s an impression he often gives.
The reality, though, is different. This is someone who, when he was a journalist, made up attributable quotes. That may not sound like much to those who have never worked in the media, indeed it may seem relatively trivial. In fact, it does not get any worse.
Johnson's cardinal media sin explains mindset
There are two sins in the press: plagiarism and falsification. The former happens frequently and may even occur subliminally – you read or hear something, then trot it out without thinking. It’s still wrong but can be excusable. Wholesale copying without crediting is more serious.
More extreme, however, is making up a quote and putting someone’s name to it. Johnson did that when he was at The Times and cited his Oxford-based godfather, an academic, as having said it.
The assumption must have been that the don would stand by his godson, that he wouldn’t mind. Well, he did care, he was furious in fact, complained, and Johnson duly lost his job.
Johnson eats and breathes popularity
Johnson later told the filmmaker Michael Cockerell: “It was awful … I remember a deep, deep sense of shame and guilt … just not knowing how to sort it out … it was a bit of a bummer, frankly.”
This is a telling episode from Johnson’s life – it displays a level of deviousness that simply would not exist in others. And, while he said that to Cockerell, he followed the apparent mea culpa with something rather less, telling Eddie Mair in a radio interview when asked about the episode: “I mildly sandpapered something somebody said.”
So, what was he thinking, when he dropped in the reference to the miners and Mrs Thatcher? Johnson eats and breathes popularity. He reads the Telegraph first every day, followed by The Sun. Much of what he does or says is the result of having been run by, or emerged from, focus groups.
Coalmine gag made with an eye on Sunak threat
He studies their findings and opinions avidly. Just at the point when Rishi Sunak, his Chancellor and potential leadership rival, is climbing high in the charts and Johnson is falling, he invokes the Iron Lady and the miners, and in relation to the environment.
He says something that makes many people – not his political opponents – nod and murmur “good old Boris”. He’s having a laugh, not much of one, but a laugh, nonetheless. It’s what they love him for.
Johnson knows there will be fury, of course there will be – it’s a deplorable statement, also inaccurate.
He can say it, too, because he can, because he’s Boris. Sunak, he knows, would never utter such a thing, never. Sunak is far too cautious for that. Besides, would Sunak ever dare have the courage to hark back to Thatcher? The Chancellor is from a Yorkshire constituency as well, so referencing the mines makes it even more unlikely.
Only he, Boris, can be so daring and clever, linking Thatcher and the mines with the present, with his priorities. It’s what he’s known for, why he wins and why criticism falls off him. This is a Prime Minister, we now know, thanks to his embittered former adviser, Dominic Cummings, who chooses to create chaos, who sets out to have a Cabinet comprising ministers he knows are not up to the task.
Margaret Thatcher's closure of the coalmines left indelible scars on the communities affected. Alamy
Sure, that is grossly irresponsible – he is playing with departments of state, after all – but it doesn’t half make Johnson look good, the king above the fray, the one certainty to whom they owe their allegiance.
Johnson inured to barbs from Sturgeon and Starmer
Here’s another aspect to the method in his madness: he knows that every time Sturgeon and Starmer pop up on our screens, those Boris must woo if he is to win the next general election are turned off.
How can he be so sure? Because his private polling tells him so. They can’t do anything, those two: they can huff and puff but they can’t bring the house down; he, Boris, is in charge. It’s the summer recess as well, so he does not even have to explain himself to the boring pedant opposite.
No, you can see what was in his head. Reach for a grenade, tug out the pin and lob it, same as you’ve done before. There will be an explosion, definitely. As he said, that will get them going.
It’s a classic dead cat play. Brilliant. Next, a leak appears saying that Johnson actively suggested demoting Sunak. Again, more outrage. It’s a leak about a leak as well – the first was a leaked letter portraying Sunak as an action man as the Chancellor argued for a relaxation of travel restrictions. What does Boris do?
A report appears saying that he told a meeting: “'I've been thinking about it. Maybe it's time we looked at Rishi as the next secretary of state for health. He could potentially do a very good job there.'”
The best way for [Johnson's] enemies and rivals to deal with him would be to not react, to say nothing. But he knows they won’t do that
A senior government source is quoted as saying: “In an open meeting, after ranting about Rishi, he then suggested the Chancellor could be demoted in the next reshuffle.”
Wait, he knew it would get out. It was an “open meeting”. It was Johnson being boss again. Sunak may be climbing the rankings, but he, Boris, is in charge. Only he has the power to fire or promote.
He realises, too, that those the party polls and quizzes in focus groups don’t yet entirely get or trust Sunak. The Chancellor remains very much an unknown – unlike the extremely known Johnson.
We’re informed Johnson issued his threat “half in jest”. So, quite intentional then. As Boris suggested, a propos of the other supposedly off-the-cuff remark about the mines and global warming, that will get them going. And it does.
Johnson, we’re informed, wants to be loved. He needs our attention. The best way for his enemies and rivals to deal with him would be to not react, to say nothing.
But he knows they won’t do that. They will shout and protest, because they must, and he will sail on – same as he did in the mayoral, leadership and general elections, when he came out with outrageous statements and won. Keep provoking, keep reminding folk who is in charge. And on we go.
Boris Johnson's two years as prime minister - in pictures
July 2019: Queen Elizabeth II invites Boris Johnson, as Britain's new Prime Minister, to form a government after his resounding victory in the Conservative Party's leadership election.
August 2019: Then-US president Donald Trump and Boris Johnson attend a bilateral meeting during the G7 summit in Biarritz, France. The pair exchanged warm words despite vast differences in their positions on geopolitics and global trade.
November 2019: Boris Johnson poses for a photo wearing boxing gloves emblazoned with ‘Get Brexit Done' during a stop on his general election campaign trail in Manchester.
December 2019: Boris Johnson and his partner Carrie Symonds enter Downing Street as the Conservatives celebrate a sweeping UK general election victory.
January 2020: Five years since David Cameron announced he was calling a referendum on the UK leaving the EU, known as Brexit, Mr Johnson holds the reins of power as the country hands back its membership and is cut adrift from the European bloc.
February 2020: Boris Johnson finalises his divorce deal with his estranged wife Marina Wheeler after a year-long financial dispute. It paves the way for marriage to his partner Carrie Symonds. The couple announce they are engaged and are expecting a baby.
March 2020: Everything changes as the coronavirus pandemic envelopes the world. Boris Johnson orders a national lockdown with families told to stay in their homes in all bar exceptional circumstances. Non-essential shops are also shut and events such as weddings and funerals suspended. It is the biggest shutdown in Britain’s history.
March 2020: Mr Johnson begins a series of sombre press conferences at which he warns many people will die from coronavirus. He says the country faces the worst public health crisis for a generation. He urges people to work from home and stay away from pubs, restaurants and other social gatherings.
March 2020: Mr Johnson takes part in the first 'Clap for Carers', a weekly round of applause for National Health Service staff that brings the nation out on their doorsteps to acknowledge the workers putting their lives at risk on the front line in the battle against coronavirus. He is soon in need of their assistance as he tests positive for Covid and is hospitalised.
April 2020.: From near death to nappy duty! In a rattling change of fortunes, Mr Johnson and his partner Carrie reveal the birth of their son. It is Carrie’s first child but thought to be Boris’s fifth child. Surprisingly, the PM has never confirmed exactly how many children he has through a series of relationships. The boy is named Wilfred Lawrie Nicholas Johnson, in a tribute to their grandfathers and the doctors who treated the prime minister in hospital.
June 2020: Boris Johnson visits M&S clothing department and other retail outlets in Westfield Stratford, London, as the first lockdown restrictions ease.
July 2020: The public get their first real glimpse of Wilfred as he is cuddled by Carrie on a Zoom call to thank University College Hospital staff who helped with the birth.
October 2020: The UK orders a string of local lockdowns as Mr Johnson tries to regain control of the second wave without forcing the entire country back into hibernation.
November 2020: Mr Johnson orders a new national lockdown after weeks of costly dithering and the failure of tiered restrictions to stem the spread of the virus.
January 2021: Despite the pandemic's third wave, a glimmer of light is presented in the shape of the UK's burgeoning vaccination programme. Here, Mr Johnson visits a mobile vaccination centre at Barnet FC's ground at The Hive, north London.
March 2021: Mr Johnson gives a thumbs-up gesture after receiving his first dose of the AstraZeneca-Oxford vaccine at St Thomas' Hospital in London.
April 2021: Boris Johnson is embroiled in a furore over who paid for his flat at 11 Downing Street to be refurbished, with wife Carrie Symonds alleged as to have derided its John Lewis decor. Here, Labour Party leader Sir Keir Starmer attempts to make political capital out of the incident at a John Lewis in Manchester.
May 2021: Boris Johnson poses with his wife Carrie Johnson in the garden of No 10 Downing Street after their secret wedding at Westminster Cathedral.
May 2021: Boris Johnson visits Hartlepool after the Conservative Party candidate Jill Mortimer won the Hartlepool Parliamentary by-election. Ms Mortimer won with 51.9 per cent of the vote, marking a significant victory for Mr Johnson's Tories as Hartlepool was traditionally a Labour stronghold.
May 2021: Erstwhile chief adviser turned fiercest critic Dominic Cummings delivers damming evidence to UK politicians regarding Boris Johnson and his government's handling of the coronavirus pandemic.
June 2021: The Prime Minister and his new wife Carrie Johnson walk with US President Joe Biden and First Lady Jill Biden in Cornwall where the UK hosted the G7 Summit.
July 2021: Boris and Carrie Johnson attend the UEFA Euro 2020 semi-final between England and Denmark at Wembley in July. The match ends in victory for the hosts but success in a major tournament final proves elusive as England are beaten by Italy on penalties. The Prime Minister received criticism from some quarters for wearing an England football shirt over his usual shirt and tie.
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
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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.”
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What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
The flights
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes. Where to stay
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany - At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people - Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed - Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest - He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
