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Labour talks down election hopes but Starmer could face heat

Leader may come under pressure to change tack if party fares badly, despite boost to Tories from furlough scheme and Covid jabs
Labour strategists say their electoral chances this week have been hampered by two welcome, and successful, government policies: the furlough scheme, under which the state has paid millions of people’s wages, and the successful delivery of the Covid vaccine.
Keir Starmer’s team point out that the feelgood factor from the vaccine rollout, and the relaxing of restrictions on voters’ everyday lives, would be a challenging backdrop for any opposition party. And they insist his is a long-term project of restoring Labour to winning form by the time of the next general election.
Starmer himself has repeatedly said he and his colleagues have “a mountain to climb”, and his allies are pinning their hopes for Thursday’s elections on modest gains far away from the “red wall”, in Scotland and the south of England.
But if the party fares as badly this week as some polls have suggested – losing Hartlepool’s seat at Westminster to the Conservatives and going backwards in areas Labour hopes to win in 2024 – Starmer could come under intense pressure from colleagues to change tack.
In particular, while his allies are now highlighting potential gains for Labour in south and south-west England, Starmer’s strategy in the 12 months since he took over has been aimed squarely at recapturing seats such as Darlington, which his chief of staff, Jenny Chapman, lost to the Conservatives in 2019.
A poor performance in areas such as Doncaster, which may hint at further potential red wall gains for the Tories, and any signs that Labour continues to go backwards in areas such as the West Midlands where it lost nine Westminster seats in 2019, would spark alarm within the parliamentary party.
That is highly unlikely to mean a leadership challenge, however. Disgruntled Corbynite MPs almost certainly couldn’t muster the 40 MPs necessary to kick off a race (the leftwing Socialist Campaign Group has 34 members), while Labour’s centrists have the humiliating memory of Owen Smith’s vainglorious 2016 candidacy seared on their memories.
But Starmer’s critics on both wings of the party may well feel emboldened to push for a shadow cabinet shakeup – and perhaps a rejig of the leader’s office, too.
Some frontbenchers complain that Starmer’s close-knit team are cautious and controlling, keeping the shadow cabinet on a short leash – perhaps partly as a reaction to the leaks and hostile briefing of the Jeremy Corbyn years.
Starmer’s team have repeatedly insisted there are “no plans” for a reshuffle, but they could decide to seize the moment for a fresh start.
The Labour leader had already been planning to make more speeches and policy announcements in the coming months as the acute phase of the pandemic recedes. But he will face far more intense pressure to do so if Thursday’s results are disappointing, and as Boris Johnson prepares to use the Queen’s speech next week to ramp up his plans to “build back better”.
One seasoned Labour adviser suggested Starmer would be wise to ignore the knee-jerk reactions of colleagues from all sides of the party, and wait for the dust to settle, however. “On Friday, you’ll have people on the right saying: ‘You haven’t done enough to purge the Trots’ and people on the left saying: ‘Bring back Jeremy’ – but we’ll still be counting votes on Monday,” they said.
source: Heather Stewart
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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