British Prime Minister Boris Johnson's failure to outline short-term measures to lessen the financial burden on people’s day-to-day lives was criticised by charities, campaigners and opposition politicians. Reuters
British Prime Minister Boris Johnson's failure to outline short-term measures to lessen the financial burden on people’s day-to-day lives was criticised by charities, campaigners and opposition politicians. Reuters
British Prime Minister Boris Johnson's failure to outline short-term measures to lessen the financial burden on people’s day-to-day lives was criticised by charities, campaigners and opposition politicians. Reuters
British Prime Minister Boris Johnson's failure to outline short-term measures to lessen the financial burden on people’s day-to-day lives was criticised by charities, campaigners and opposition politi

UK's Boris Johnson criticised for lack of support on rising living costs


Soraya Ebrahimi
  • English
  • Arabic

UK Prime Minister Boris Johnson came under fire on Monday for not using the Queen’s Speech to promise more action to combat rising living costs, saying the government cannot “completely shield” people from it.

Instead the prime minister laid out plans for a “high-wage, high-skill” economy, saying the government was working to “build the foundations for decades of prosperity”.

However, Mr Johnson’s failure to outline short-term measures to lessen the financial burden on people’s day-to-day lives was criticised by charities, campaigners and opposition politicians.

The prime minister hinted at future help, using the “fiscal firepower” of the government.

“We will continue to use all our ingenuity and compassion for as long as it takes,” he told MPs.

“The chancellor and I will be saying more about this in the days to come.”

But any extra intervention to help with the current strain on household budgets will not be arriving in the next few days, a Downing Street source told the PA news agency.

The Treasury, asked about the prime minister’s comments, pointed to the chancellor, saying on Monday that there would be “better clarity on what energy prices will be in the autumn”.

Speaking in the Commons, Mr Johnson went on to say there are limits to how much public money he was prepared to commit to addressing a global economic crisis.

Volunteers work at the Trussell Trust's Norwood and Brixton Foodbank in St Margaret's the Queen Church in Brixton, South London. AFP
Volunteers work at the Trussell Trust's Norwood and Brixton Foodbank in St Margaret's the Queen Church in Brixton, South London. AFP

With the war in Ukraine raging, the government’s programme included a series of measures to give the security services extra powers to tackle foreign spies and efforts to influence British democracy.

The package also contains measures aimed at taking advantage of the freedoms offered by Brexit — but there was no legislation to enact the government’s threat to tear up the deal on Northern Ireland’s trading arrangements, although officials said that remained an option.

But with rising energy bills, inflation forecast to hit 10 per cent and benefits and wages failing to keep up with the increase in prices, the cost of living is set to dominate domestic politics in the coming months.

The government highlighted the £22 billion ($27bn) package of help with energy bills, tax cuts and other measures already announced, but its focus is on generating economic growth to help address the issues rather than increasing state support, with public finances already battered by the billions borrowed to address the pandemic.

“After two years of Covid-19, I know that the last thing people need are further challenges,” Mr Johnson said.

“I know people are struggling with their bills and that they are anxious about the future.

“While we must keep our public finances on a sustainable footing — and we cannot completely shield people from the fallout from global events — where we can help, we will.”

Mr Johnson said the “aftershocks of Covid-19 and the biggest war in Europe since 1945” are causing disruption around the world, with all major economies facing cost-of-living pressures.

“It is right that we continue doing whatever we can to ease the burdens people are grappling with now, supporting the hardest-hit with £22bn of help to address the cost of living and cutting hundreds of pounds off household bills.

“But we must also remember that for every pound of taxpayers’ money we spend on reducing bills now, it is a pound we are not investing in bringing down bills and prices over the longer term.”

Britain's Prime Minister Boris Johnson and Labour Party opposition leader Keir Starmer walk through the Central Lobby at the Palace of Westminster in London. Reuters
Britain's Prime Minister Boris Johnson and Labour Party opposition leader Keir Starmer walk through the Central Lobby at the Palace of Westminster in London. Reuters

He said the government’s “top priorities” are growing the economy, making streets safe and supporting the NHS to clear the backlogs built up during the pandemic.

Labour leader Sir Keir Starmer called the response to the situation “pathetic”, telling Mr Johnson: “This government’s failure to grow the economy over a decade, combined with its inertia in the face of spiralling bills, means that we are staring down the barrel of something we haven’t seen in decades — a stagflation crisis.”

Liberal Democrat leader Sir Ed Davey said the Queen’s Speech “does nothing to help the millions of families and pensioners facing soaring bills and eye-watering inflation”.

“This speech was a far cry from what struggling families needed to hear today”, offering “no short-term comfort for parents struggling to feed their kids in the face of rocketing prices”, said Child Poverty Action Group chief executive Alison Garnham.

Dan Paskins, director of UK impact at Save the Children added that “the Queen’s Speech was a major opportunity to support those most affected by rising costs and the government didn’t take it”.

And Confederation of British Industry’s Matthew Fell said “firms looking for the government to address the cost-of-living crisis by growing the economy will be encouraged by the ambition in the Queen’s Speech”.

UAE%20FIXTURES
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THE%20SWIMMERS
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Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Farasan Boat: 128km Away from Anchorage

Director: Mowaffaq Alobaid 

Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani

Rating: 4/5

What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

UAE%20Warriors%2045%20Results
%3Cp%3E%3Cstrong%3E%0DMain%20Event%0D%3A%20Lightweight%20Title%3C%2Fstrong%3E%0D%3Cbr%3EAmru%20Magomedov%20def%20Jakhongir%20Jumaev%20-%20Round%201%20(submission)%0D%3Cbr%3E%3Cstrong%3ECo-Main%20Event%0D%3A%20Bantamweight%3C%2Fstrong%3E%0D%3Cbr%3ERany%20Saadeh%20def%20Genil%20Franciso%20-%20Round%202%20(submission)%0D%3Cbr%3E%3Cstrong%3ECatchweight%20150%20lbs%3C%2Fstrong%3E%0D%3Cbr%3EWalter%20Cogliandro%20def%20Ali%20Al%20Qaisi%20-%20Round%201%20(TKO)%0D%3Cbr%3E%3Cstrong%3EBantamweight%3C%2Fstrong%3E%0D%3Cbr%3ERenat%20Khavalov%20def%20Hikaru%20Yoshino%20-%20Round%202%20(TKO)%0D%3Cbr%3E%3Cstrong%3EFlyweight%3C%2Fstrong%3E%0D%3Cbr%3EVictor%20Nunes%20def%20Nawras%20Abzakh%20-%20Round%201%20(TKO)%0D%3Cbr%3E%3Cstrong%3EFlyweight%3C%2Fstrong%3E%0D%3Cbr%3EYamato%20Fujita%20def%20Sanzhar%20Adilov%20-%20Round%201%20(submission)%0D%3Cbr%3E%3Cstrong%3ELightweight%3C%2Fstrong%3E%0D%3Cbr%3EAbdullo%20Khodzhaev%20def%20Petru%20Buzdugen%20-%20Round%201%20(TKO)%0D%3Cbr%3E%3Cstrong%3ECatchweight%20139%20lbs%3C%2Fstrong%3E%0D%3Cbr%3ERazhabali%20Shaydullaev%20def%20Magomed%20Al-Abdullah%20-%20Round%202%20(submission)%0D%3Cbr%3E%3Cstrong%3EFlyweight%3C%2Fstrong%3E%0D%3Cbr%3ECong%20Wang%20def%20Amena%20Hadaya%20-%20Points%20(unanimous%20decision)%0D%3Cbr%3E%3Cstrong%3EMiddleweight%3C%2Fstrong%3E%0D%3Cbr%3EKhabib%20Nabiev%20def%20Adis%20Taalaybek%20Uulu%20-%20Round%202%20(submission)%0D%3Cbr%3E%3Cstrong%3ELight%20Heavyweight%3C%2Fstrong%3E%0D%3Cbr%3EBartosz%20Szewczyk%20def%20Artem%20Zemlyakov%20-%20Round%202%20(TKO)%3C%2Fp%3E%0A
COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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BUNDESLIGA FIXTURES

Friday (all kick-offs UAE time)

Hertha Berlin v Union Berlin (10.30pm)

Saturday

Freiburg v Werder Bremen (5.30pm)

Paderborn v Hoffenheim (5.30pm)

Wolfsburg v Borussia Dortmund (5.30pm)

Borussia Monchengladbach v Bayer Leverkusen (5.30pm)

Bayern Munich v Eintracht Frankfurt (5.30pm)

Sunday

Schalke v Augsburg (3.30pm)

Mainz v RB Leipzig (5.30pm)

Cologne v Fortuna Dusseldorf (8pm)

 

 

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

Army of the Dead

Director: Zack Snyder

Stars: Dave Bautista, Ella Purnell, Omari Hardwick, Ana de la Reguera

Three stars

Company%20Profile
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Updated: May 10, 2022, 7:55 PM