Liberal Democrat leader Sir Ed Davey addresses supporters after the local council elections. Getty Images
Liberal Democrat leader Sir Ed Davey addresses supporters after the local council elections. Getty Images
Liberal Democrat leader Sir Ed Davey addresses supporters after the local council elections. Getty Images
Liberal Democrat leader Sir Ed Davey addresses supporters after the local council elections. Getty Images

Liberal Democrats see signs of smashing UK's Conservative 'Blue Wall' in near future


Simon Rushton
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The Liberal Democrats are celebrating “big wins” in traditionally Conservative areas that they say could help demolish the “Blue Wall” of seats Prime Minister Boris Johnson’s Tories need to win the next election.

Liberal Democrat leader Sir Ed Davey said local elections were a “turning point” for his party.

A centre party, the Liberal Democrats believe they can appeal to Conservative voters who cannot support Labour as well as disillusioned Labour voters. But they have found it difficult to gain major wins at the national level.

Speaking in Wimbledon, Sir Ed said: “We are going to have a Liberal Democrat MP for Wimbledon at the next election. And I think there are other places where we're going to see Liberal Democrat success for the first time ever.

“I'm really excited about the south-west of England and coming back there. I'm excited about all those seats across the Blue Wall which, frankly, we haven't been players in for a long time.

  • British Labour Party candidates and supporters celebrate after making gains in the Westminster City Council elections in London. Reuters
    British Labour Party candidates and supporters celebrate after making gains in the Westminster City Council elections in London. Reuters
  • Labour Party leader Sir Keir Starmer speaks to supporters in Barnet, north London, on Friday, where the party clinched victory in the polls. PA
    Labour Party leader Sir Keir Starmer speaks to supporters in Barnet, north London, on Friday, where the party clinched victory in the polls. PA
  • Prime Minister Boris Johnson paints with children during a visit to a school in South Ruislip on Friday, after the local government elections. PA
    Prime Minister Boris Johnson paints with children during a visit to a school in South Ruislip on Friday, after the local government elections. PA
  • Liberal Democrat leader Ed Davey celebrates the party's gains at Wimbledon Common in London. PA
    Liberal Democrat leader Ed Davey celebrates the party's gains at Wimbledon Common in London. PA
  • Ballot boxes are opened at the Glasgow City Council building in Scotland. PA
    Ballot boxes are opened at the Glasgow City Council building in Scotland. PA
  • London Mayor Sadiq Khan celebrates during the counting process at Wandsworth Town Hall in London. Reuters
    London Mayor Sadiq Khan celebrates during the counting process at Wandsworth Town Hall in London. Reuters
  • Election staff begin to count votes in Belfast after the Northern Ireland Assembly election. AP
    Election staff begin to count votes in Belfast after the Northern Ireland Assembly election. AP
  • Candidates and observers monitor the counting process at Lindley Hall in Westminster. Reuters
    Candidates and observers monitor the counting process at Lindley Hall in Westminster. Reuters
  • Members of the counting staff rest at Lindley Hall in Westminster. Reuters
    Members of the counting staff rest at Lindley Hall in Westminster. Reuters
  • Labour candidates and supporters celebrate as the votes are counted at Peterborough Arena. PA
    Labour candidates and supporters celebrate as the votes are counted at Peterborough Arena. PA
  • Election officials at Peterborough Arena during the local government elections. PA
    Election officials at Peterborough Arena during the local government elections. PA
  • Volunteers sort ballot papers before counting at Basildon Sporting Village in Essex. PA
    Volunteers sort ballot papers before counting at Basildon Sporting Village in Essex. PA
  • An election monitor wears a Labour Party rosette at Wandsworth Town Hall in London. Reuters
    An election monitor wears a Labour Party rosette at Wandsworth Town Hall in London. Reuters
  • Ballots are counted at Wandsworth Town Hall in London. Reuters
    Ballots are counted at Wandsworth Town Hall in London. Reuters
  • Ballot papers are counted at Silksworth Community Pool, Tennis and Wellness Centre in Sunderland. Getty
    Ballot papers are counted at Silksworth Community Pool, Tennis and Wellness Centre in Sunderland. Getty
  • The first ballot boxes arrive at Silksworth Community Pool, Tennis and Wellness Centre in Sunderland. Getty
    The first ballot boxes arrive at Silksworth Community Pool, Tennis and Wellness Centre in Sunderland. Getty
  • The first ballot papers are counted in Sunderland. Getty
    The first ballot papers are counted in Sunderland. Getty
  • Ballot boxes are emptied at the Guildhall in Hull. PA
    Ballot boxes are emptied at the Guildhall in Hull. PA
  • Messages are left outside a polling station on Glen Road in Belfast, Northern Ireland. Reuters
    Messages are left outside a polling station on Glen Road in Belfast, Northern Ireland. Reuters
  • A woman hands out leaflets in support of the Traditional Unionist Voice party in Belfast. EPA
    A woman hands out leaflets in support of the Traditional Unionist Voice party in Belfast. EPA
  • Polling stations across Northern Ireland were open for voting for the 2022 assembly election. EPA
    Polling stations across Northern Ireland were open for voting for the 2022 assembly election. EPA
  • A woman attaches a sign on the wall of a polling station in London. Reuters
    A woman attaches a sign on the wall of a polling station in London. Reuters

“And I'm looking forward to results yet to come in Scotland and Wales.”

The Liberal Democrats won the new unitary authorities of Somerset — traditional Conservative territory — and Westmorland and Furness, also dislodging the Tories in West Oxfordshire and pushing the council into no overall control.

Mr Davey said the local election results would send an “almighty shock wave” through the government.

“We're making big gains from the Conservatives, gains that I think we can turn into seats in the next election,” he said.

“I said that people could use their vote to send a message to Boris Johnson that he's not providing the leadership on the cost-of-living emergency, which is really the issue on the doorsteps that I found, and I think the real situation here is the economy is in a real mess, the Conservatives have failed to provide that leadership and people are turning to the Liberal Democrats for an alternative party.”

He added: “The dissatisfaction amongst lifelong Conservatives with the prime minister was really palpable — they don't think he's a decent man.”

Sir Ed also dismissed calls for a pact with the Labour Party to defeat the Tories at the next general election.

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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.”

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Ads on social media can 'normalise' drugs

A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.

The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.

Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.

Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
Updated: June 21, 2023, 8:34 AM