Newly arrived Jamaican immigrants on board the 'Empire Windrush' at Tilbury, on June 22, 1948. Getty Images
Newly arrived Jamaican immigrants on board the 'Empire Windrush' at Tilbury, on June 22, 1948. Getty Images
Newly arrived Jamaican immigrants on board the 'Empire Windrush' at Tilbury, on June 22, 1948. Getty Images
Newly arrived Jamaican immigrants on board the 'Empire Windrush' at Tilbury, on June 22, 1948. Getty Images

UK has offered more than £41m compensation to Windrush victims


Nicky Harley
  • English
  • Arabic

The UK has offered victims of the Windrush scandal more than £41m compensation.

Home Secretary Priti Patel has vowed to swiftly pay the funds after it was revealed last year that 95 per cent of victims had not received any money four years after the compensation programme was launched.

The scheme was launched in 2019 after thousands of people who were born in the Commonwealth and migrated legally to the UK in the 1950s and 60s, arriving on the Empire Windrush ship, were wrongfully detained, denied legal advice and threatened with deportation.

Thousands of legal immigrants who had lived in the country for decades were denied access to health care, the right to work and, in some cases, threatened with deportation due to a lack of official paperwork.

Ms Patel has previously admitted members of the Windrush generation were repeatedly failed after being wrongly classified as illegal immigrants.

The Home Office says more than £35m has now been paid to 940 people and more than 25 per cent of applicants have received a payment.

“Since I overhauled the Windrush Compensation Scheme, the home office has been able to secure compensation for more people more quickly. £41 million has now been offered to Windrush victims, with more claims being finalised as quickly as possible,” Ms Patel said.

“In addition, 13 further organisations across the UK will receive funding through the Windrush Community Fund. The £500,000 fund allows community and grass roots organisations to bid for up to £25,000 to deliver projects to help raise awareness of the Windrush Scheme documentation and Windrush Compensation Scheme.”

The government said it has now offered 11 people up to £300,000 compensation, 61 people have been offered between £100,000 and £200,000 and 187 people have been offered or paid between £50,000 and £100,000.

Last year the Commons Home Affairs Committee said there had been a “litany of flaws” blighting the scheme since its creation.

Yvette Cooper, chairwoman of the committee, said the delays and problems with the scheme had “compounded the injustice and the trauma” suffered by victims of the Windrush scandal.

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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.

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The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

Bio

Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro

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Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Updated: January 31, 2022, 2:55 PM