Liz Truss began her fightback in the Tory leadership contest on Thursday by saying she was ready to “hit the ground running” as Britain’s next prime minister, as the rise of her less seasoned rival Penny Mordaunt threatened to knock her campaign off course.
Allowing herself only the slightest chuckle when asked melodramatically about the “March of Mordaunt”, the foreign secretary told journalists at her first major campaign speech that she would not be drawn into a public slanging match with the candidate who knocked her into third place in the first round of balloting.
But there was little doubt whose CV she was comparing hers with when she said: “I am the person in this race with the record of delivery … my experience, my record of delivery is needed to get the job done.”
Having waited until after round one to throw herself into the campaign, Ms Truss was keen to remind her audience that she had the responsibilities of a foreign secretary during the war in Ukraine.
Ms Mordaunt, a junior minister who was very briefly defence secretary in 2019, has been described as a potential compromise candidate after serving quietly under Boris Johnson without making enemies on the Tory benches.
Ms Truss, meanwhile, has been in cabinet since 2014 and is seen as the main flag-bearer of the right of the party, but only came third behind Ms Mordaunt and former chancellor Rishi Sunak in Tuesday’s first round of voting by Tory MPs.
In her launch speech she was keen to talk about her younger days as well as her cabinet experience, saying her background as a comprehensive school pupil in Leeds set her apart from upper-crust Tories and gave her a desire to create an “aspiration nation” if she wins the race.
She spoke of continuing the “levelling up” agenda of Mr Johnson, whose election victory in 2019 saw sweeping Tory gains in the poorer north of England, although she said this would happen “in a Conservative way”.
Her specific promises included an offer of tax cuts to match those being promised by almost all of the six candidates, and economic reforms to make Britain a “high-growth economy” in the next 10 years.
Money would be raised by trimming the public sector and delaying payments on coronavirus-related debt, Ms Truss said, freeing up cash that could see defence spending rise to 3 per cent of gross domestic product by 2030.
Her economic ideas would include new “low-tax, low-regulation zones” to attract investors, regenerating deprived areas in a manner modelled on the London Docklands, and cutting regulations for farmers, she said.
“We need to be honest with the public. This will be tough. It will take time. But I am determined to deliver,” she said to applause from supportive MPs, who included cabinet ministers Nadine Dorries and Kwasi Kwarteng.
Did the backing of Johnson loyalists constitute a “kiss of death” from the unpopular prime minister, she was asked? Like Mr Sunak before her, Ms Truss sought to create some distance without openly attacking Mr Johnson.
She said she had criticised a rise in National Insurance behind closed doors, although she publicly supported it at the time, and would reverse it if elected prime minister.
If all goes to plan the economy could be on an “upward trajectory” by 2024, she said, without needing to remind the MPs in front of her that the next general election is expected that year.
“The next election will be about the economy, and Liz is ready to deliver radical change from day one,” said Mr Kwarteng, warming up the audience while Ms Truss huddled with aides before her speech.
Not all of her team appeared to have got the message of civility, with Simon Clarke, one of her supporters in the cabinet, endorsing an astonishing attack on Ms Mordaunt by former Brexit negotiator Lord Frost.
“I’m quite surprised that she is where she is in this leadership race,” Lord Frost told Talk TV, before revealing he had asked outgoing Prime Minister Boris Johnson to drop Ms Mordaunt from his negotiating team last year.
“I felt she did not master the detail that was necessary in the negotiations. She wouldn’t always deliver tough messages to the European Union when that was necessary.
“And I’m afraid she wasn’t fully accountable, she wasn’t always visible, sometimes I didn’t even know where she was. I’m afraid this became such a problem that after six months I had to ask the prime minister to move her on.”
Mr Clarke said Lord Frost’s warning was “a really serious one … [we] need a leader who is tested and ready.”
Ms Truss meanwhile now bills herself as an enthusiast for Brexit, and a hardliner in talks with the EU, despite having opposed Britain’s departure from the bloc in the 2016 referendum campaign.
In foreign policy, she would continue Mr Johnson’s efforts to rally world leaders against Russia and “make sure that Ukraine prevails”, she said.
“I don’t give in to Whitehall. I don’t give in to vested interests. And I don’t give in to the naysayers,” she said, hours before MPs vote for a second time. “I’ve proved time and time again that I can deliver even when it’s difficult.”
Tory leadership candidates — in pictures
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
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
More from Neighbourhood Watch:
Cricket World Cup League 2
UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs
UAE fixtures
Free admission. All fixtures broadcast live on icc.tv
Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium
COMPANY%20PROFILE
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Disability on screen
Empire — neuromuscular disease myasthenia gravis; bipolar disorder; post-traumatic stress disorder (PTSD)
Rosewood and Transparent — heart issues
24: Legacy — PTSD;
Superstore and NCIS: New Orleans — wheelchair-bound
Taken and This Is Us — cancer
Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)
Grey’s Anatomy — prosthetic leg
Scorpion — obsessive compulsive disorder and anxiety
Switched at Birth — deafness
One Mississippi, Wentworth and Transparent — double mastectomy
Dragons — double amputee
UAE currency: the story behind the money in your pockets
EMILY%20IN%20PARIS%3A%20SEASON%203
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
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.
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
Specs
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COMPANY%20PROFILE
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RESULTS
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COMPANY%20PROFILE
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Stamp duty timeline
December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.
April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.
No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
Abramovich London
A Kensington Palace Gardens house with 15 bedrooms is valued at more than £150 million.
A three-storey penthouse at Chelsea Waterfront bought for £22 million.
Steel company Evraz drops more than 10 per cent in trading after UK officials said it was potentially supplying the Russian military.
Sale of Chelsea Football Club is now impossible.
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Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
MADAME%20WEB
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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 President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Countdown to Zero exhibition will show how disease can be beaten
Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.
Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.
UAE currency: the story behind the money in your pockets