The British MP at the centre of a lobbying scandal resigned on Thursday after a U-turn by Boris Johnson’s government cleared the way for a new vote on his suspension.
The decision by Owen Paterson is the latest blow to the government, which has been rocked by claims of corruption and sleaze for trying to rewrite the rule book on MPs’ behaviour to protect the former minister.
The government successfully ordered its MPs to block a six-week suspension for Mr Paterson, who was censured by a parliamentary watchdog for lobbying on behalf of companies which paid him more than £100,000.
But a backlash against plans for a new standards system prompted the government to draw back from its plans and promise a new vote on Mr Paterson.
The MP responded by announcing that he would quit after describing the last two years as an “indescribable nightmare” and claiming he had been unable to clear his name under the current system.
He said the pressure of the inquiry — which concluded he was responsible for an “egregious” breach of the rules — contributed to his wife’s suicide in June last year.
“I maintain that I am totally innocent of what I have been accused of and I acted at all times in the interests of public health and safety,” he said in a statement.
“The last few days have been intolerable for us. Worst of all was seeing people, including MPs, publicly mock and deride Rose's death and belittle our pain.
“My children have therefore asked me to leave politics altogether, for my sake as well as theirs.
“I agree with them. I do not want my wife's memory and reputation to become a political football.”
The government’s alternative system of oversight ran into immediate problems after opposition parties vowed to boycott the project and the current watchdog, Kathryn Stone — whose position was thrown into doubt — vowed to stay in post until the end of her term in December 2022.
The move was condemned by opposition MPs, anti-corruption groups and within the prime minister’s own party.
The dispute was further stoked on Thursday by Business Secretary Kwasi Kwarteng, who suggested that Ms Stone, the independent parliamentary commissioner for standards, should quit before her five-year term finishes.
“I think it's difficult to see what the future of the commissioner is, given the fact that we're reviewing the process, and we're overturning and trying to reform this whole process, but it's up to the commissioner to decide her position,” he told Sky News.
The Labour Party accused Mr Kwarteng of trying to bully her out of her post following her damning criticisms of Mr Paterson’s conduct.
The backlash forced the government into a rapid rethink and it announced that the plans would be delayed to allow for further discussions. One ruling party MP on the lowest rung of the ministerial ladder who had voted against the plans was reinstated.
Opposition leader Sir Keir Starmer — who, as the country’s chief prosecutor, brought cases against MPs who abused the expenses system a decade ago — had described the planned changes as corruption.
“That the Tories are yet again wallowing in sleaze comes as no surprise,” wrote Mr Starmer in The Guardian newspaper.
The Business Insider website revealed that 22 ruling party MPs who backed the move to scrap the current system were either under investigation or had been censured by the commissioner since 2019.
Lord Evans, the chairman of the Committee on Standards in Public Life, described plans for a Tory-led review into the disciplinary process for MPs as being “deeply at odds with the best traditions of British democracy”.
The former MI5 chief told an Institute for Government event: “It cannot be right to propose an overhaul of the entire regulatory system in order to postpone or prevent sanctions in a very serious case of paid lobbying by an MP.
“And it cannot be right to propose that the standards system in the House of Commons should be reviewed by a select committee chaired by a member of the ruling party and with a majority of members from that same party.
“This extraordinary proposal is deeply at odds with the best traditions of British democracy.
“The political system in this country does not belong to one party or even to one government — it is a common good that we have all inherited from our forebears and that we all have a responsibility to preserve and to improve.”
The Conservative party has been dogged by the issue of “sleaze” since former premier John Major announced a “back to basics” policy in 1993 promoting traditional values — but this became a derided slogan after a series of sexual and financial scandals.
The leak in 2009 of expenses and allowances claimed by MPs — including payments for a “duck island” and mortgage scams — led to prosecutions and forced a number of MPs from across the political spectrum to announce they were leaving front-line politics.
Company%20profile
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Empty Words
By Mario Levrero
(Coffee House Press)
Meghan%20podcast
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UFC Fight Night 2
1am – Early prelims
2am – Prelims
4am-7am – Main card
7:30am-9am – press cons
More from Rashmee Roshan Lall
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.”
MEDIEVIL%20(1998)
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20SCE%20Studio%20Cambridge%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Sony%20Computer%20Entertainment%3Cbr%3E%3Cstrong%3EConsole%3A%3C%2Fstrong%3E%20PlayStation%2C%20PlayStation%204%20and%205%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
Formula%204%20Italian%20Championship%202023%20calendar
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Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
Company%20profile
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
ITU Abu Dhabi World Triathlon
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
Uefa Nations League: How it Works
The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.
The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.
Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.
Mohammed bin Zayed Majlis