British employers called on PM to overhaul regulation and tax rules after COVID-19
May 24, 2021, 7:25 am

British

People walk past a sign in a shop window amid the outbreak of coronavirus disease (COVID-19) in Manchester, Britain, December 15, 2020. REUTERS/Phil Noble/File Photo

Reuters

British employers called on Prime Minister Boris Johnson on Monday to overhaul regulation and tax rules to help them meet the challenges of Brexit, the post-pandemic recovery and preparing for a net-zero carbon economy.

The Confederation of British Industry (CBI) said 2021 should be a turning point for economic policy to break the pattern of weak productivity that has weighed on growth for more than a decade.

"This country will never have a greater opportunity to transform our economy and society," CBI Director-General Tony Danker said. "This is the moment where we have a genuine chance to make big bets on how the UK economy will grow and compete."

The CBI urged regulators to prioritise investment, the creation of economic clusters around the country to foster innovation and better skills training.

It also said a long-term plan was needed for taxation that would allow Britain to fix the damage to its public finances wrought by the biggest ever budget deficit in peacetime without hurting business investment.

Britain's economy slumped by almost 10% last year and is due to grow by 7.25% in 2021, according to the Bank of England. But the central bank has forecast that growth after 2022 will return to its slow, pre-pandemic pace.

(Writing by William Schomberg; Editing by Helen Popper)

Reuters, May 24, 20217:51 AM EEST

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”