With a new government and new prime minister, the UK is taking a new direction. But this moment is also a once-in-a-generation turning point.
Back in the 1950s, former prime minister Harold MacMillan faced a similar challenge. The real problem with a turning point, he said, is deciding "which way to turn". That's the challenge for Keir Starmer.
He has begun well by being tough in the face of riots in some of England's towns. Lawbreakers go to jail. Racism and Islamophobia are clearly rejected by the vast majority of citizens. But in most newspapers, the froth of political life still dominates.
We discovered that the country's highest-earning MP is Nigel Farage, the leader of the Reform UK party. Reform is often in the news despite the fact that it managed to secure fewer seats in the whole of England UK (five) than Sinn Fein did in the much-smaller Northern Ireland (seven).
Mr Farage earns £98,000 ($127,000) a month as a TV presenter on a largely unwatched right-wing TV channel. He earns more in one month than an MP's annual salary. When Parliament resumes, other legislators may wonder how a part-time MP truly represents his constituents. Even if he makes news because he has a kind of charisma (love it or loathe it), Mr Farage remains a sideshow.
Besides, I prefer uncharismatic politicians who get the job done. These include former prime minister Clement Attlee, dull on the surface but the most transformative leader in recent history. Winston Churchill is supposed to have said Attlee was so boring that "an empty taxi arrived at 10 Downing Street and Clement Attlee got out of it".
Attlee became prime minister in 1945. This post-Second World War turning point led to the creation of the National Health Service, the nationalisation of key industries, including the coal mines, and profound educational reforms that continued through the 1960s with the creation of new universities and a better modern UK.
Attlee himself wanted results, not headlines. He instructed government ministers: "You will be judged by what you succeed at, not by what you attempt." Mr Starmer – regarded as a sharp brain but a dull speaker – should follow that principle.
He has an enormous parliamentary majority based on a one-word election slogan that captured the feelings of millions of Britons: change. But what – if anything – can change mean when the core British problem is lack of money? Taxes are already high. The public sector is crumbling.
Yet again Attlee is an inspiration.
The post-war UK was so strapped for cash that in the fierce winter of 1947 thousands of Londoners went to the glass hothouses at Kew Gardens meant for plants just to keep warm. Taking power in 1945, Attlee expanded the state enormously. Even when Conservative governments took power, Attlee's basic principles of an expanded public sector remained until 1979.
That's when Margaret Thatcher began the counter-revolution. After this Thatcherite turning point, houses built with public money were sold off to private owners – a hugely popular policy. The railways, the publicly owned airline, the publicly owned coal mines and other industries, including water supplies, were sold off, transformed or closed.
Luckily for Starmer, the opposition Conservative party is such a shambles that he has breathing space
But now in 2024, we are again at a turning point potentially as profound as 1945 or 1979. When I travel to public meetings, voters speak of a hunger for change. There's a culture of complaint about everything from poor train services to the inability for many of us to see doctors and dentists. Prisons are full. Police are stretched. Some universities face an autumn financial crisis.
Mr Starmer has a huge majority, but it's less clear if he has a mandate for specific changes. Yet perhaps, that is an asset. It means that he can be pragmatic, not dogmatic. And it would be immensely cheering if we have now, as with Attlee in 1945, a government thinking beyond the next day's headlines and even beyond the next election to the next generation.
Luckily for Mr Starmer, the opposition Conservative party is such a shambles that he has breathing space. The Conservatives can grumble but not get in the way. After seeing them in power for 14 years, many voters have stopped listening to their message altogether.
Moreover, Conservatives themselves are at a turning point. Do they turn to the right to see off the existential threat from Reform UK, an even more right-wing party? Or do they scramble back to the centre of politics, which is where most voters are? Whatever they do, nobody (except party members) needs to care for a year or two.
Mr Starmer, therefore, has room to get on with the job of changing the UK, perhaps – as with Thatcher and Attlee – for a generation. Even if there is no magic money tree, Mr Starmer also rides on a huge wave of public longing for a better UK.
He's lucky in his political enemies. Those on the right loathe each other so much their internecine feuding means that they have no time to get in the way. Yet the key question remains: at this turning point, which way will Mr Starmer turn?
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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
The specs: 2019 Lincoln MKC
Price, base / as tested: Dh169,995 / Dh192,045
Engine: Turbocharged, 2.0-litre, in-line four-cylinder
Transmission: Six-speed automatic
Power: 253hp @ 5,500rpm
Torque: 389Nm @ 2,500rpm
Fuel economy, combined: 10.7L / 100km
Company%20profile
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UAE central contracts
Full time contracts
Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid
Part time contracts
Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
Ant-Man and the Wasp
Director: Peyton Reed
Starring: Paul Rudd, Evangeline Lilly, Michael Douglas
Three stars
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UAE’s revised Cricket World Cup League Two schedule
August, 2021: Host - United States; Teams - UAE, United States and Scotland
Between September and November, 2021 (dates TBC): Host - Namibia; Teams - Namibia, Oman, UAE
December, 2021: Host - UAE; Teams - UAE, Namibia, Oman
February, 2022: Hosts - Nepal; Teams - UAE, Nepal, PNG
June, 2022: Hosts - Scotland; Teams - UAE, United States, Scotland
September, 2022: Hosts - PNG; Teams - UAE, PNG, Nepal
February, 2023: Hosts - UAE; Teams - UAE, PNG, Nepal
Richard Jewell
Director: Clint Eastwood
Stars: Paul Walter Hauser, Sam Rockwell, Brandon Stanley
Two-and-a-half out of five stars
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
COMPANY%20PROFILE
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