Labour cannot return to past policies, says Gordon Brown after poll drubbing
May 10, 2021, 10:22 am

Labour cannot return to past policies, says Gordon Brown after poll drubbing

Gordon Brown: ‘The Labour party has got to change, we can never have the same policies at 1997.’

Ex-leader and Diane Abbott urge Keir Starmer to review party policies to tackle ‘seismic changes’ in society

Labour cannot seek answers in the past to solve its electoral troubles, Gordon Brown has said, as Keir Starmer’s new campaigns coordinator said the party faced “a difficult job” adjusting to political divides based on cultural values.

With Starmer’s authority seen as undermined after a protracted, if eventually limited, shadow cabinet reshuffle after a string of bad election results last week, the Labour leader faces pressure to change course.

Diane Abbott, who was shadow home secretary under Jeremy Corbyn’s leadership, said Starmer had sought to make Angela Rayner, Labour’s deputy leader, “carry the can” for results including losing the Hartlepool byelection and shedding council seats across England.

After a prolonged standoff on Sunday, Rayner was moved from her role as party chair and national campaigns coordinator, but ended up with an expanded brief, shadowing Michael Gove as well as being handed a newly created post as shadow secretary for the future of work.

“It does seem as if, certainly the people around him (Starmer), don’t understand how the party works,” Abbott told BBC Radio 4’s Today programme.

“They didn’t seem to realise that because she’s an elected deputy leader, you can fiddle around with her title, but you can’t sack her, so she remains a senior person in the shadow cabinet.”

Abbott has called for Starmer to return to the policies promised under Corbyn at the 2019 general election.

But also speaking to the Today programme, Brown said Labour could not just return the policies of the past if it wanted to deal with the “seismic changes” facing society, including widening social inequalities and nationalism.

“Keir Starmer and his leadership have got to deal with all these changes,” the former prime minister said. “So, the Labour party has got to change, we can never have the same policies at 1997 – they can’t be the same policies at 2019.

“He has got to be given the space and the power and the leaders working with him to change the Labour party, so that it can deal with these fundamental challenges that have been aggravated by Covid.”

Shabana Mahmood, the Birmingham Ladywood MP who was appointed campaigns coordinator in place of Rayner, said Labour would undertake a policy review to create “a programme that is capable of speaking to people across the country”.

This would, she conceded, have to tackle the issue of how to attract former voters in areas such as the north of England and Midlands without putting off existing supporters in cities.

She said: “It’s a difficult job. A lot of people are voting based on cultural disposition and cultural outlook, rather than just the economics of the programme.”

Mahmood added: “The test of our policies in the end is are we going to be granted a chance to form a government to enact those policies. That is the test for the policies that we adopt.”

source: Peter Walker

Levant

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.