Prime Minister Rishi Sunak departs 10 Downing Street, London, to attend Prime Minister's Questions at the Houses of Parliament. Picture date: Wednesday February 1, 2023.
Prime Minister Rishi Sunak departs 10 Downing Street, London, to attend Prime Minister's Questions at the Houses of Parliament. Picture date: Wednesday February 1, 2023.
Prime Minister Rishi Sunak departs 10 Downing Street, London, to attend Prime Minister's Questions at the Houses of Parliament. Picture date: Wednesday February 1, 2023.
Prime Minister Rishi Sunak departs 10 Downing Street, London, to attend Prime Minister's Questions at the Houses of Parliament. Picture date: Wednesday February 1, 2023.

Rishi Sunak defends Tories against 'addiction to sleaze' allegations


Laura O'Callaghan
  • English
  • Arabic

Britain’s ruling Conservative Party suffers from an “addiction to sleaze and scandal”, opposition leader Keir Starmer has said in a heated exchange with Prime Minister Rishi Sunak as pressure on his government intensifies.

Rattling off a list of the Tories’ failings during their time in government, Mr Starmer sought to paint a picture of a party tearing itself apart over misconduct ― with a weak leader at its helm.

More than 100 days into his tenure in 10 Downing Street, Mr Sunak is being dogged by questions over his handling of former chancellor Nadhim Zahawi's tax affair, the inquiry into bullying allegations against Deputy Prime Minister Dominic Raab and the Boris Johnson loan row.

Despite efforts to push forward his domestic agenda, including pledges to lower inflation, stop illegal immigration and slash healthcare waiting lists, the Prime Minister’s position is blighted by issues both new and old.

Polls suggest his popularity has also been hit by the issues.

The seemingly never-ending record of sagas is inflicting “huge damage” on Britain, Mr Starmer said, while taking on Mr Sunak during Prime Minister’s Questions in the House of Commons on Wednesday.

“After 13 years in power, trying to blame the Labour Party for his failure to sort out the strikes is rank pathetic,” Mr Starmer told MPs. “The Tory Party’s addiction to sleaze and scandal has done huge damage to this country and the cost to the public keeps adding up.”

The tax scandal surrounding former chancellor Nadhim Zahawi, above, continues to hound Prime Minister Rishi Sunak. PA
The tax scandal surrounding former chancellor Nadhim Zahawi, above, continues to hound Prime Minister Rishi Sunak. PA

Mr Zahawi was sacked as chairman of the Conservative Party on Sunday after an independent inquiry found he had breached ministerial rules over his failure to declare a probe into his tax affairs by HM Revenue & Customs (HMRC).

A replacement for Mr Zahawi has yet to be announced.

In the days before the findings of the inquiry were published, Mr Sunak resisted calls to suspend Mr Zahawi from his post. Following his sacking, the Prime Minister has refused to bow to calls to remove the party whip from the politician.

The inquiry into bullying claims against Mr Raab, who is also the Justice Secretary, is also proving to be a thorn in the Prime Minister's side.

Mr Sunak was told about Mr Raab’s “unacceptable behaviour” last summer before he appointed the deputy prime minister to his Cabinet role in October, according to a source quoted by Sky News. The insider claimed in the months before he became Prime Minister that Mr Sunak was notified of the questionable conduct but was not “directly told” about specific issues.

Mr Sunak’s spokeswoman said: “The Prime Minister was not aware of any formal complaints at the time of appointing Dominic Raab.” She declined to say whether the Prime Minister knew of informal complaints against Mr Raab before handing him a top role in his team.

The Labour leader went on to attack the government’s record on crime, saying it resulted a “justice system letting murderers walk the street”, and he said the economy was “shrinking quicker” than Mr Sunak’s leadership.

The International Monetary Fund has tipped the UK’s gross domestic product (GDP) to contract by 0.6 per cent in 2023, and expects it to be the only major economy to shrink this year.

Mr Sunak was also lambasted over reports his former boss Mr Johnson could get hundreds of thousands of pounds from taxpayers to foot his legal bill in the Partygate investigation.

“I couldn’t quite believe it when I saw that [Mr Sunak’s] government is expecting taxpayers to pay the legal fees for the member for Uxbridge [Mr Johnson] defending himself over his lockdown rule-breaking,” Mr Starmer said.

“A quarter of a million pounds. Surely even this Prime Minister can put his foot down, stand up to his old boss and tell him he made the mess, he can pick up the bill?”

Mr Sunak skirted around the question, instead accusing his opponent of cowering in the face of Labour-supporting unions who are conducting strikes across multiple sectors.

“He can’t stand up to his union bosses, he can’t stand up for Britain’s schoolchildren today and he can’t stand up for the women in his party,” the Prime Minister said.

After listing his administration’s priorities, he added: “While he can’t even figure out what he believes in, we’ll keep delivering for Britain.”

No 10 said former ministers are supported with costs if faced with legal action relating to their work during their time in office.

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Mageed Yahia, director of WFP in UAE: Coronavirus knows no borders, and neither should the response

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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10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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Updated: February 01, 2023, 3:52 PM