Britain's opposition Labour leader Sir Keir Starmer will say the NHS needs to be overhauled. PA
Britain's opposition Labour leader Sir Keir Starmer will say the NHS needs to be overhauled. PA
Britain's opposition Labour leader Sir Keir Starmer will say the NHS needs to be overhauled. PA
Britain's opposition Labour leader Sir Keir Starmer will say the NHS needs to be overhauled. PA

Labour leader warns NHS ‘not sustainable’ without ‘fixing the fundamentals’


Neil Murphy
  • English
  • Arabic

Britain's main opposition leader is to warn that the National Health Service is “not sustainable” unless there are health reforms that “fix the fundamentals” and go beyond extra investment.

Sir Keir Starmer is due to give a speech in the east of England on Monday in which he will outline his vision for modernising the publicly funded healthcare system.

He is also set to announce health-related performance targets to be introduced if his Labour party forms the next Downing Street administration, and detail new policies he believes will help deliver on its commitment to “build an NHS fit for the future” – one of his so-called five missions for government.

In his speech, the opposition leader is set to tell the public that it is “not serious” to suggest that the NHS’s current issues can be fixed solely with more money.

His shadow health secretary, Wes Streeting, has previously warned that the NHS must “reform or die” after setting out plans to use private sector capacity as a short-term fix.

Sir Keir is expected to say: “The NHS is not sustainable unless we make serious, deep, long-term changes.

“Some people will tell you this is purely a question of money – and money is part of it – but you can’t look at the problems now and tell me it’s just about money. That’s not serious.”

In a signal that Sir Keir is preparing to emulate past Labour election campaigns by putting the NHS front and centre of his bid to be Britain’s next prime minister, he will tell members that the service their party established after the Second World War cannot be put on a pedestal.

“At the next election the NHS is on the line,” he will say, according to pre-briefed extracts of his speech.

“The Conservative Party that has brought it to its knees will put it in the ground.

“But mark my words, if all we do in the Labour Party is place the NHS on a pedestal and leave it there – that’s not good enough.

“We’ve got to fix the fundamentals, renew its purpose, make it fit for the future.”

He will emphasise his own family’s experience of both working and being cared for by the NHS while criticising the current state of the service, particularly when it comes to ambulance delays.

“The NHS has played an enormous role in my life. My mum was a nurse, proud to be a nurse, but she was also severely ill for most of her life,” he is expected to say.

“That diagnosis didn’t reckon with mum’s determination and courage but it also didn’t reckon with the NHS.

“Lots of people say they owe the NHS everything. I’m definitely one of them. But mum’s story isn’t special.

“Behind every single door in this country, there is a family who will have their own version. The NHS belongs to everyone.”

He will tell the audience that ambulance delays mean the “cruel lottery of who lives and who dies” has returned for the first time since the NHS’s inception.

“Ambulances – for heart attack and stroke victims – that don’t come in time, just think about that for a second,” he is preparing to say.

“Ambulances that don’t come. Can you – any of you – imagine losing someone in that way? I can’t, and I mean that in every sense: I can’t imagine it.

“It shouldn’t be possible in our country, but it is. A cruel lottery of who lives and who dies that the NHS was founded to stop. And until now, until this point, for 75 years – it has.”

Sir Keir’s other missions for his potential premiership are securing the highest sustained growth in the G7, making Britain a clean energy superpower, creating safer streets and breaking down barriers to opportunity.

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Percentage increase in visitors in eight years: 500 per cent

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More than 3.5 million Indians reside in UAE
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BMW M5 specs

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

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Fuel consumption: 10.6L/100km

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Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

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Dubai College A 50-12 Dubai College B

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Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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Platforms: PlayStation 5, Xbox Series X/S, PC

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1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

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Price: from Dh229,900 to Dh355,000

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Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

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Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport. 

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt 

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties

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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Directed by: Walt Dohrn, David Smith

Starring: Anna Kendrick, Justin Timberlake

Rating: 4 stars

Updated: May 20, 2023, 9:32 PM