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Election success for UK politicians backing universal basic income

Scores of politicians including almost half of Welsh parliament have signed UBI trial pledge
Scores of politicians who won seats in last week’s elections, including almost half of the Welsh parliament, have signed a pledge calling a universal basic income (UBI) system to be trialled.
Members of the Senedd and the Scottish parliament and councillors across England have promised to lobby for the creation of pilot UBI schemes in their countries or areas.
The system proposes that every citizen, regardless of their means, receives a sum of money regularly and for life to cover the basic cost of living. Its proponents argue it will alleviate poverty and give people time to retrain and adapt to changing workplaces, be more creative and become more active and engaged.
In the run-up to the elections in England, Wales and Scotland, the UBI Lab Network, a worldwide group of activists, researchers and citizens, asked candidates to sign a pledge promising to put pressure on governments and councils to launch trials.
Twenty-five candidates who won seats in the 60-strong Senedd signed up, as did 29 in Scotland. Andy Burnham, who was reelected as mayor of Greater Manchester, is also onboard.
The UBI Lab Network is still calculating how many of its council hopefuls in England were elected but the Green party’s surge will help, as almost 300 of its candidates signed the pledge.
Jonathan Rhys Williams of UBI Lab Wales said: “Wales has leapt to the forefront of the basic income movement. There are now 25 elected members of the Senedd who have backed our pledge for UBI – nearly half of our elected representatives and clear majority among the progressive parties.
“The Welsh government must listen to those MSs
Dawn Bowden, the Labour Senedd member for Merthyr Tydfil and Rhymney, said: “In a post-Covid recovery we have to address the huge inequalities that have been magnified throughout the pandemic. The current welfare system goes nowhere near addressing this, so I am suggesting that a starting point for reform should be for us to trial UBI and assess the impact this has amongst some of the lowest paid and disadvantaged in our society.
“Making our society fairer should be something that we all sign up to and work to deliver.”
Jane Dodds, the leader of the Welsh Liberal Democrats and newly elected member for Mid and West Wales, said: “UBI has the potential to transform the lives of people in Wales. It would ensure that people are lifted out of poverty, stress and uncertainty, and that money is put into our economy to create jobs and allow people to take on caring responsibilities and other options to enhance their lives.
“I want to work with parties across Wales to look at how we trial a UBI system in Wales to ensure we put the recovery from Covid of our economy and our mental health in this sixth Senedd.”
The Welsh first minister, Mark Drakeford, who led Labour to victory at last week’s Senedd elections, has described the idea of UBI as attractive.
A poll carried out for Sophie Howe, the future generations commissioner for Wales, in the run-up to the elections suggested almost three-quarters of people were in favour of a UBI trial.
She said: “People in Wales are facing incredible uncertainty as a result of both Covid-19 and the climate emergency – a basic income could be that stronger safety net which keeps people from falling through the cracks of support now and in the future.”
Lorna Slater, the co-leader of the Scottish Greens, said: “The pandemic has shown that the UK’s social security net is full of holes.”
The single Conservative who has signed, Andy Morgan, was reelected for Bolton council.
source: Steven Morris
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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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