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UK faces 'Covid decade' due to damage done by pandemic, says report

British Academy review calls for wide-ranging new policies to reverse rise in deprivation and ill health
Britain faces a “Covid decade” of social and cultural upheaval marked by growing inequality and deepening economic deprivation, a landmark review has concluded.
Major changes to the way society is run in the wake of the pandemic are needed to mitigate the impact of the “long shadow” cast by the virus, including declining public trust and an explosion in mental illness, the British Academy report found.
Published on the anniversary of the UK’s first lockdown, the report brings together more than 200 academic social science and humanities experts and hundreds of research projects. It was set up last year at the behest of the government’s chief scientific adviser, Sir Patrick Vallance.
The British Academy warned that failure to understand the scale of the challenge ahead and deliver changes would result in a rapid slide towards poorer societal health, more extreme patterns of inequality and fragmenting national unity.
Government-led intervention including major investment in public services is required to repair the “profound social damage” caused or exacerbated by coronavirus across areas including the economy, mental health, public trust and education, it said.
“With the advent of vaccines and the imminent ending of lockdowns, we might think that the impact of Covid-19 is coming to an end. This would be wrong. We are in a Covid decade: the social, economic and cultural effects of the pandemic will cast a long shadow into the future – perhaps longer than a decade,” it said.
The report’s publication came as Boris Johnson delivered an upbeat reflection on what he called one of the most difficult years in the UK’s history, offering condolences to those who lost family and friends to the virus but paying tribute to the “great spirit” shown by the nation.
“We have all played our part, whether it’s working on the frontline as a nurse or carer, working on vaccine development and supply, helping to get that jab into arms, home-schooling your children, or just by staying at home to prevent the spread of the virus,” the prime minister said. “It’s because of every person in this country that lives have been saved, our NHS was protected, and we have started on our cautious road to easing restrictions once and for all.”
The British Academy cautions against overoptimism as the UK thinks about recovery from Covid, however, warning that it is “no ordinary crisis” that can be fixed by a return to normal, but one that thrived amid pre-existing social deprivations and inequalities and which has exposed deep-seated flaws in public policy.
Too many people experienced the pandemic in poor housing, were badly equipped for home schooling and home working and vulnerable to poor mental health, and found themselves at high risk of economic insecurity, the report said, pointing out that “many people are ‘newly poor’ and only one month’s wages away from poverty”.
Areas for action highlighted by the report include:
Declining public trust: after an initial surge in the first months of the pandemic, trust in UK government and feelings of national unity collapsed, with little sign that progress on vaccinations has halted the trend. Unless addressed, this will erode social cohesion and undermine future public health campaigns.
Widening inequalities: geographic, health, racial, gender, digital and economic inequalities have been exacerbated by Covid. If not tackled, they risk becoming permanently locked in, scarring the prospects of groups disproportionately affected by the social impact of the virus, such as young people.
Worsening mental health: soaring mental illness, especially among children, low-income households and black, Asian and minority ethnic communities, risks embedding long-term problems if the underlying causes are not tackled.
The report calls for renewed spending on community services, local government, social care and local charities, especially in deprived areas, noting that some of the most effective responses to Covid have been at a local level, where public trust has remained strong. Investment was need to erase the digital divide and establish internet access as a “critical, life-changing public service”.
With unemployment expected to rise, the report questions whether the existing social security system, which is geared more towards helping low-paid workers than people without jobs, could cope with a pandemic-induced recession, saying: “This may prompt reflection on what kind of system the country wants and needs.”
The lead author of the report, Dominic Abrams, professor of social psychology at the University of Kent, said the investment package needed would be expensive, but that much could be achieved by reframing existing policies. “I don’t think this is necessarily about extra money, it’s
Asked whether he was optimistic that the government was open to making changes on the scale the academy called for, Abrams said this was an opportunity to address a range of serious social issues that were not going away. Without a post-pandemic strategy, he said, “these things will get worse”.
Hetan Shah, the chief executive of the British Academy, said: “A year from the start of the first lockdown, we all want this to be over. However, in truth, we are at the beginning of a Covid decade. Policymakers must look beyond the immediate health crisis to repair the profound social damage wrought by the pandemic.”
A government spokesperson said: “Coronavirus is the biggest public health challenge the UK has faced in decades and as we recover from this pandemic this government is committed to building back better and levelling up outcomes for every individual across the country.
“That’s why we’ve implemented robust support to those who need it most - raising the living wage, spending billions to safeguard jobs, investing £2.4bn each year for disadvantaged pupils, and boosting welfare support and local authority funding. On top of that, we are providing an additional £500m for mental health services and £79m to expand mental health support teams in schools and colleges.”
source: Patrick Butler
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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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