Nigel Farage, leader of Reform UK, addresses supporters and the media as his party celebrates historic local election victories this week in England. Getty
Nigel Farage, leader of Reform UK, addresses supporters and the media as his party celebrates historic local election victories this week in England. Getty
Nigel Farage, leader of Reform UK, addresses supporters and the media as his party celebrates historic local election victories this week in England. Getty
Nigel Farage, leader of Reform UK, addresses supporters and the media as his party celebrates historic local election victories this week in England. Getty


The Farage insurgency reveals Britain's two-party system to be a living fossil


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May 06, 2025

This is the age of political disruptors. US President Donald Trump is obviously the Disruptor-in-Chief, joined in different ways by Italian Prime Minister Giorgia Meloni as leader of the Brothers of Italy party, President Javier Milei of Argentina, the far-right AfD in Germany, and others including the Reform UK party.

Reform is Nigel Farage’s latest political incarnation, and his leadership took the party to great success in the English local elections last week. It also won a byelection, taking a House of Commons seat from the governing Labour party. Mr Farage’s political genius is to connect strongly with some voters even if he repels others. He does well with older voters and those who are not university graduates.

In person he’s affable, humorous and good company, but is better known for exploiting problems rather than solving them. His focus is hot-button grievances about immigration, the alleged (but unsubstantiated) preferential treatment of ethnic minorities, climate change and “diversity”.

Now Mr Farage has gone full Trump, claiming to be leader of the UK’s political opposition. He isn’t, although he could be. The current leader of the opposition is Kemi Badenoch, with 121 Conservative MPs. Labour has more than 400 MPs. Reform, despite picking up that new MP last week, still has just five members in a Parliament of 650. Under Mr Farage, Reform is the mouse that roared, threatening to destroy the Conservative party.

  • Reform UK party leader Nigel Farage celebrates parliamentary candidate Sarah Pochin's victory in the Runcorn and Helsby by-election. AFP
    Reform UK party leader Nigel Farage celebrates parliamentary candidate Sarah Pochin's victory in the Runcorn and Helsby by-election. AFP
  • Ms Pochin and Mr Nigel Farage speak before the announcement of the result of the Runcorn and Helsby by-election at DCBL Halton Stadium, in Cheshire. PA
    Ms Pochin and Mr Nigel Farage speak before the announcement of the result of the Runcorn and Helsby by-election at DCBL Halton Stadium, in Cheshire. PA
  • Ros Jones of the Labour Party celebrates as she is declared the winner of the mayoral election in Doncaster, England. Getty Images
    Ros Jones of the Labour Party celebrates as she is declared the winner of the mayoral election in Doncaster, England. Getty Images
  • Ballot papers are counted at Doncaster racecourse. Getty Images
    Ballot papers are counted at Doncaster racecourse. Getty Images
  • Reform UK's Greater Lincolnshire mayoral candidate Dame Andrea Jenkyns, centre, with party deputy leader Richard Tice, right, during the count at Grimsby Town Hall. PA
    Reform UK's Greater Lincolnshire mayoral candidate Dame Andrea Jenkyns, centre, with party deputy leader Richard Tice, right, during the count at Grimsby Town Hall. PA
  • Counting of ballots for the Greater Lincolnshire mayoral election, at Grimsby Town Hall. Getty Images
    Counting of ballots for the Greater Lincolnshire mayoral election, at Grimsby Town Hall. Getty Images
  • Defence Secretary John Healey, centre, looks on as ballot papers are tallied at Doncaster. Getty Images
    Defence Secretary John Healey, centre, looks on as ballot papers are tallied at Doncaster. Getty Images
  • Zia Yusuf, chairman of Reform UK, speaks to members of his team as votes are counted in the Runcorn and Helsby by-election. Getty Images
    Zia Yusuf, chairman of Reform UK, speaks to members of his team as votes are counted in the Runcorn and Helsby by-election. Getty Images
  • A police officer looks on as votes are counted in the Runcorn and Helsby by-election. Getty Images
    A police officer looks on as votes are counted in the Runcorn and Helsby by-election. Getty Images

The Conservatives are sometimes described as the most successful party in British history, but nowadays they have only themselves to blame for successive failures. Between 1886 and 1997, they were in government for an astonishing 77 out of 111 years. Since 2010, however, their leaders have been serially incompetent.

This began with then-prime minister David Cameron’s promise in 2016 of a Brexit referendum in the hope of seeing off the hard-right threat from Mr Farage. It proved to be one of the biggest mistakes in modern British political history, giving Mr Farage a platform for his many grievances. Mr Cameron lost the referendum and quit. His hapless Conservative successors – Theresa May, Boris Johnson, Liz Truss and Rishi Sunak – rapidly entered the dustbin of political history.

All the while, Mr Farage survived and thrived by inventing new parties and making new converts through constant campaigning. The former New York state governor, Mario Cuomo, once warned that campaigning is like poetry, while governing is prose. Mr Farage is about to understand what Mr Cuomo meant.

Having run an engaging campaign last week, his Reform party governs through control of some English local councils. But local government is prosaic, difficult and often dull work that demands competence, not rousing speeches. Voters who love a feisty campaign will soon loathe local governments if the garbage isn’t collected, the schools don’t work and the buses don’t run on time.

Mr Farage also has a track record of making enemies, internal party feuds and personal gripes. One former Reform MP, Rupert Lowe, is now shunned and aggrieved. The news organisation Politico catalogued 11 significant Farage feuds with colleagues (now mostly former colleagues). One of them, in the European Parliament, is quoted as describing Mr Farage as “snarling, thin skinned and aggressive”.

Mr Farage himself began as a member of the Conservative party (1978-1992), then the Anti-Federalist League (1992-1993), then the UK Independence Party (1993-2018), followed by the Brexit party, renamed since 2021 as Reform.

Having run an engaging campaign last week, his Reform party governs through control of some English local councils. But local government is prosaic, difficult and often dull work that demands competence, not rousing speeches

The real story of the past few days, therefore, is not Mr Farage’s personal talents nor the collapse of the Conservative party. The overarching story is that delusions about having a two-party British political system have at last been exploded. There are now five significant parties in England – Labour, the Liberal Democrats, the Conservatives, the Greens and Reform. Scotland, Wales and Northern Ireland have nationalist parties of considerable importance.

The British delusion about a two-party system based on “first past the post” voting – resulting in “the government” and “opposition” (Conservatives and Labour) – does not reflect the profound diversity of the modern British electorate. This delusion is an abuse of democracy. We have, as we noted last year, a Labour government holding two thirds of the House of Commons seats based on just one third of the votes in last year’s general election.

Predictions in this unpredictable decade are, therefore, not worth much. But Mr Farage’s latest party will face scrutiny as never before.

British Prime Minister Keir Starmer attends a street party to commemorate VE Day on Monday. Mr Starmer could concede that Britain's two-party duopoly is over and promise that if Labour wins the next general election, he will introduce a fairer voting system. EPA
British Prime Minister Keir Starmer attends a street party to commemorate VE Day on Monday. Mr Starmer could concede that Britain's two-party duopoly is over and promise that if Labour wins the next general election, he will introduce a fairer voting system. EPA

Reform lacks in-depth talent, as it is little more than a vehicle of convenience for Mr Farage. Without him, it would be a party mostly of political nobodies. For now, therefore, the Conservatives will keep Ms Badenoch as leader because in this mess no one else wants the job. Ms Badenoch probably has a year to turn things around, or say goodbye.

Prime Minister Keir Starmer has longer – four years before the next election – but he needs to lead, not merely manage. He could begin by conceding that the two-party system is a living fossil and promise that if Labour wins the next general election, he will introduce a fairer voting system fit for the 21st – not the 19th – century. He could also publicly recognise that the vast majority of British people now think Brexit – Mr Farage’s supposed great success – has failed by every conceivable metric.

Reform’s success is a wake-up call and yes, it’s time – at last – to wake up.

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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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Rating: 4/5

8 traditional Jamaican dishes to try at Kingston 21

  1. Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
  2. Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
  3. Mento Oxtail: flavoured oxtail stewed for five hours with herbs
  4. Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
  5. Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
  6. Jamaican beef patty: a pastry with ground beef filling
  7. Hellshire Pon di Beach: Fresh fish with pickles
  8. Out of Many: traditional sweet potato pudding
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  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
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  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

Honeymoonish
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The biog:

From: Wimbledon, London, UK

Education: Medical doctor

Hobbies: Travelling, meeting new people and cultures 

Favourite animals: All of them 

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Letswork%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EOmar%20Almheiri%2C%20Hamza%20Khan%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20co-working%20spaces%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%242.1%20million%20in%20a%20seed%20round%20with%20investors%20including%20500%20Global%2C%20The%20Space%2C%20DTEC%20Ventures%20and%20other%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20about%2020%3C%2Fp%3E%0A
Health Valley

Founded in 2002 and set up as a foundation in 2006, Health Valley has been an innovation in healthcare for more than 10 years in Nijmegen, the Netherlands.
It serves as a place where companies, businesses, universities, healthcare providers and government agencies can collaborate, offering a platform where they can connect and work together on healthcare innovation.
Its partners work on technological innovation, new forms of diagnostics and other methods to make a difference in healthcare.
Its agency consists of eight people, four innovation managers and office managers, two communication advisers and one director. It gives innovation support to businesses and other parties in its network like a broker, connecting people with the right organisation to help them further

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Updated: May 06, 2025, 2:00 PM