Boris Johnson, departing his London home in March 2022, announced he will be standing down from parliament with immediate effect. EPA
Boris Johnson, departing his London home in March 2022, announced he will be standing down from parliament with immediate effect. EPA
Boris Johnson, departing his London home in March 2022, announced he will be standing down from parliament with immediate effect. EPA
Boris Johnson, departing his London home in March 2022, announced he will be standing down from parliament with immediate effect. EPA


Boris Johnson's exit creates a test for Rishi Sunak


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June 12, 2023

One of the popular tunes from the 1960s film The Sound of Music is about the tricky character played by Julie Andrews, a nun called Maria. She is constantly getting into scrapes. The song asks “How do you solve a problem like Maria? / How do you catch a cloud and pin it down?”

British Prime Minister Rishi Sunak might think of adapting the words and singing the same song about his former leader Boris Johnson. How do you solve a problem like Boris Johnson? Isn’t he, as The Sound of Music lyrics continue, “A flibbertigibbet! A will-o’-the-wisp! A clown!” (A flibbertigibbet is – according to the dictionary definition – a frivolous, flighty or excessively talkative person.)

You can understand Mr Sunak’s irritation. He goes off to the US, is treated graciously by the Biden White House, returns to London in the hope of finally shaking off the past seven years of Conservative party in-fighting, and then? Boom! Another performance of the Boris Johnson All-About-Me-Show, as the former prime minister quits parliament in a huff.

Boris Johnson and Rishi Sunak visit a restaurant in London to see how they were getting their business ready to reopen in June 2020. PA Wire
Boris Johnson and Rishi Sunak visit a restaurant in London to see how they were getting their business ready to reopen in June 2020. PA Wire

It comes after an investigation into Mr Johnson’s attendance at rule-breaking parties during the coronavirus lockdown that he himself imposed on Britain. Two Johnson allies, including the former culture secretary Nadine Dorries, are also quitting parliament.

That means there will be by-elections this autumn. And that is unwelcome news for Mr Sunak. His popularity – or lack of it – will be put to the test. So, let’s be blunt. Since 2016, the Conservative party has been riven by feuds, plots and disloyalty. They appear to loathe each other. Four prime ministers – David Cameron, Theresa May, Mr Johnson and Liz Truss – have come and gone. Various factions, including the so-called European Research Group, act like parties within the party.

Johnson has no ideology. He has very few political convictions. What he does have is an astonishing ego and self-belief

Mr Johnson, despite his serious policy and personal failures, remains a hero to one faction within the party. And yet an inquiry by a cross-party group of MPs – a majority of whom are Conservatives – has decided to sanction Mr Johnson over his conduct, and to do so in a way that would open up the possibility of him personally facing a by-election and losing his parliamentary seat.

Rather than risking the voters wrath, Mr Johnson has quit, leading to charges of cowardice. Some newspapers see his resignation as a “declaration of war” on the Conservative government of Mr Sunak.

Meanwhile, Mr Johnson-supporting newspapers parrot Mr Johnson’s own view that he is a victim of a "Kangaroo Court" and a "witch-hunt".

All this seems ridiculous until you look across the ocean and digest the news about Donald Trump.

The former US president is facing extremely serious charges over his handling of classified documents. And he also claims there is a witch-hunt against him, while using his many scandals and legal battles to his own advantage, fundraising and bolstering his anti-establishment image.

Although the allegations against Mr Johnson are not of the same magnitude, he also employs the same “I am the victim here” strategy as Mr Trump. Both men seem to believe that there is no such thing as bad publicity.

Boris Johnson and Donald Trump arrive for the G7 summit in Biarritz, France in August 2019. Getty Images
Boris Johnson and Donald Trump arrive for the G7 summit in Biarritz, France in August 2019. Getty Images

Anything which puts them in the public view seems to burnish their image among supporters as “mould breakers” prepared to smash up “politics as usual” and victims of “the Establishment".

For an American billionaire and an Old Etonian to make claims of being “outsider” takes considerable chutzpah. These brazen techniques have worked at least with some sections of the electorate. But can these two extraordinary survivors continue to survive and thrive?

Can Mr Trump really regain the US presidency in 2024? Can he end up in the White House – or in jail? Can Mr Johnson really be plotting a political comeback? After helping to unseat his predecessors, Mr Cameron and Ms May, can he do the same with Mr Sunak? All this seems unlikely. But not impossible.

I’ve just finished reading Anthony Seldon’s new book, Johnson at 10, the inside story of Mr Johnson’s time in Downing Street. It ends with Seldon going through all the reasons Mr Johnson says he has been cast aside and concludes that he was not unseated by his enemies. He was undone by himself, his incompetence, careless, and inability to deliver.

Will he be back? Personally, I doubt that the traditionally ruthless Conservative party will ever again want to turn their fortunes over to the man who has divided the party for years.

The flibbertigibbet, the will-o’-the-wisp and the clown, however, may yet have the last laugh. Mr Johnson will make millions on the international speaking circuit, entertaining wealthy business audiences with tales of his many battles and wicked enemies. The trouble is that his record of achievement, beyond personal advancement, is meagre.

Mr Johnson has no ideology. He has very few political convictions. What he does have is an astonishing ego and self-belief. He has been a disaster for his party and his country, and yet I can confidently predict one version of history will be kind to him, for he will write it. A self-justifying book will undoubtedly follow.

What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

Need to know

The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours. 

The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.

When to go: You can climb Kili at any time of year, but the best months to ascend  are  January-February and September-October.  Also good are July and August, if you’re tolerant of the colder weather that winter brings.

Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.

Indika
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%2011%20Bit%20Studios%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Odd%20Meter%3Cbr%3E%3Cstrong%3EConsole%3A%3C%2Fstrong%3E%20PlayStation%205%2C%20PC%20and%20Xbox%20series%20X%2FS%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
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

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

MATCH INFO

Bayern Munich 2 Borussia Monchengladbach 1
Bayern:
 Zirkzee (26'), Goretzka (86')
Gladbach: Pavard (37' og)

Man of the Match: Breel Embolo (Borussia Monchengladbach)

ESSENTIALS

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.

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Results

1. Lewis Hamilton (Mercedes) 1hr 32mins 03.897sec

2. Max Verstappen (Red Bull-Honda) at 0.745s

3. Valtteri Bottas (Mercedes) 37.383s

4. Lando Norris (McLaren) 46.466s

5.Sergio Perez (Red Bull-Honda) 52.047s

6. Charles Leclerc (Ferrari) 59.090s

7. Daniel Ricciardo (McLaren) 1:06.004

8. Carlos Sainz Jr (Ferrari) 1:07.100

9. Yuki Tsunoda (AlphaTauri-Honda) 1:25.692

10. Lance Stroll (Aston Martin-Mercedes) 1:26.713,

WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
%3Cp%3E%E2%80%A2%20Looming%20global%20slowdown%20and%20recession%20in%20key%20economies%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Russia-Ukraine%20war%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Interest%20rate%20hikes%20and%20the%20rising%20cost%20of%20debt%20servicing%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Oil%20price%20volatility%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Persisting%20inflationary%20pressures%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Exchange%20rate%20fluctuations%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shortage%20of%20labour%2Fskills%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20A%20resurgence%20of%20Covid%3F%3C%2Fp%3E%0A
The specs

Engine: 6.2-litre V8

Transmission: seven-speed auto

Power: 420 bhp

Torque: 624Nm

Price: from Dh293,200

On sale: now

Recipe: Spirulina Coconut Brothie

Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)

Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy. 

Updated: June 12, 2023, 9:43 AM