Boris Johnson tipped for comeback after Liz Truss resigns
October 21, 2022, 12:53 pm

Boris Johnson tipped for comeback after Liz Truss resigns

UK PM Boris Johnson at the House of Commons - Credit: House of Commons Twitter account

After Liz Truss resigned as British Prime Minister on Thursday (October 20), Business Secretary Jacob Rees-Mogg encouraged colleagues in Parliament to nominate Mr Johnson, and tweeted his support earlier alongside the hashtag "Boris or bust".

Ms Truss resigned on Thursday (Oct 20) just six weeks into the job, making her tumultuous premiership the shortest in British history.

If Mr Johnson did make a comeback it would be unprecedented in British political history, coming a matter of weeks after being forced out by his own MPs after a string of scandals, the BBC said.

Polling suggests he remains popular with Tory members. Allies of Boris Johnson urged him to mount a stunning political comeback on Thursday after the dramatic resignation of UK Prime Minister Liz Truss.

“He's a winner and the only MP with legitimacy having been overwhelmingly elected by the country,” said one Johnson loyalist, Michael Fabricant.

Britain's Labour Party leader, Keir Starmer speaks during a session in Parliament, in London, Britain. © Reuters / Jessica Taylor

“He may not be the first choice of MPs — I may be wrong — but he most certainly is amongst the membership.”

Another MP, Stephen McPartland, said his inbox was “inundated with local people saying we must bring back Boris”.

But another tilt at the leadership could prove divisive among Tory MPs, some of whom have said they would quit politics if he came back.

Race kicks off to find Liz Truss' successor within a week

Sir Robert Syms said Mr Johnson was “not a serious candidate”, while Justin Tomlinson said a comeback was “wishful thinking”.

“I just think it’s too soon. I was there supporting him to the very end but he did lose the confidence of the majority of our colleagues,” Mr Tomlinson told Sky News.

Mr Johnson has been on holiday in the Caribbean. His father Stanley told ITV he understood his son was on a plane back to the UK, but would not be drawn on whether he was cutting his holiday short, or whether he would be standing.

Opposition parties are calling for a general election to decide who should be the next prime minister.

Liz Truss resigns as PM, successor to be elected next week

Labour leader Sir Keir Starmer said if Mr Johnson returned to No 10, that would be the "most powerful argument" for another poll.

Labour has been way ahead of the Conservatives in recent opinion polls.

"I remind myself that only three months ago Boris Johnson left office because most of those who were serving him on his front bench had declared that he was unfit for office," he said.

Poll shows millions of UK nationals skipping meals in cost of living crisis

The next general election is not due to take place until at least 2024 and, at this stage, it looks unlikely that date will be brought forward.

Boris Johnson’s premiership was dogged by scandals, most notably the Partygate affair, which saw him fined by police for breaking Covid-19 lockdown restrictions.

The relentless distractions wore down the patience of MPs, the public and ultimately his own ministers, who forced him out by resigning en masse in July.

He announced his resignation after conceding that he no longer had the confidence of the Tory benches.

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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.