UK Prime Minister Boris Johnson is in hot water politically over a series of parties held while various lockdown restrictions were in place.
The reports have reinforced a perception that the ruling party likes to make the rules but not abide by them. Mr Johnson and his aides have offered various explanations for the gatherings, such as thinking they were work events, while denying some even occurred.
Here are the allegations, the surrounding Covid restrictions and the cases police are not investigating.
May 13, 2020: restrictions ease
In outdoor public places, people are allowed to meet only one person not from their household. Friends and relatives cannot meet one another at their respective homes – even in the garden – but a full lockdown was relaxed.
May 15, 2020 event. Police not investigating
Mr Johnson is photographed with his partner, Carrie Symonds, at an event with senior Downing Street staff. They insist it was a work event.
May 20, 2020 gathering. Police investigating
A gathering in the garden of No 10 Downing Street for staff who work there.
June 1, 2020: restrictions ease
People are allowed to meet outside in groups of up to six. Exceptions are made for work and education.
June 18, 2020 gathering. Police investigating
A gathering in the Cabinet Office, 70 Whitehall, on the departure of a No 10 private secretary.
June 19, 2020 gathering. Police investigating
Happy birthday, Mr Prime Minister. A small event was organised to celebrate but he also reportedly attended a party for 30 people in the Cabinet room. Downing Street said he was there for less than 10 minutes.
October 31, 2020: restrictions tightened
All indoor socialising is banned between households and outside of support bubbles. The second lockdown will come into effect on February 4.
November 13, 2020 — two gatherings. Police investigating
Mr Johnson reportedly attends and makes a speech at a leaving event for the departing communications chief, Lee Cain. There are two gatherings: one in the No 10 Downing Street offices and another in its residential quarters.
November 27, 2020 party. Police not investigating
Mr Johnson makes another speech at another leaving event, this time for aide Cleo Watson. Up to 50 people reportedly attended.
December 2, 2020: restrictions ease
The full lockdown ends but tiered location restrictions take its place. In London, meeting inside is forbidden but up to six people can gather outside.
December 10, 2020 party. Police not investigating
Former education secretary Gavin Williamson gives a speech at a party hosted in his department at which canapés and drinks are served.
December 15, 2020 party. Police not investigating
The prime minister appeared online at a Christmas quiz event for staff hosted from the Cabinet Office and from Number 10.
December 16, 2020: restrictions tighten
Nine days before Christmas, London tightens restrictions and outdoor gatherings are banned. Up to six people can still meet in outside public space. Aides to Grant Shapps have a Christmas party in Whitehall.
December 17, 2020 — three gatherings. Police investigating
Cabinet Secretary Simon Case holds a quiz event, with most taking part online, for his team. There are three gatherings. One, in the Cabinet Office, 70 Whitehall, is an online Christmas quiz for staff of the Cabinet Secretary’s private office. A second, at the same venue, is for the departure of a senior Cabinet Office official and a third, at No 10 Downing Street, is for a departing No 10 official.
December 18, 2020 gathering. Police investigating
A gathering in No 10 Downing Street before the Christmas break.
January 14, 2021 gathering. Police investigating
A gathering in No 10 Downing Street on the departure of two of its private secretaries.
April 12, 2021: restrictions ease
A ban on different households meeting indoors remains in place and social contact rules continue.
April 16, 2021 — two gatherings. Police investigating
Two leaving parties take place in Downing Street on the evening before the Duke of Edinburgh’s funeral. His widow, Queen Elizabeth II, sits alone during the service, in accordance with social distancing protocol.
May 17, 2021: restrictions ease
Outdoor mixing is relaxed so that up to 30 people can meet. Indoor social events, including those at restaurants, are now allowed for up to six people or the members of two households.
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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.”
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
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Brief scoreline:
Liverpool 2
Mane 51', Salah 53'
Chelsea 0
Man of the Match: Mohamed Salah (Liverpool)
