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Gordon Brown says unemployed could be 'betrayed' in budget

Ex-PM says government has been complacent over ongoing issue of joblessness amid Covid-19
Rishi Sunak will be betraying a generation of unemployed people unless he uses Wednesday’s budget to scale up support for the growing ranks of the long-term jobless people, the former prime minister Gordon Brown has warned.
Brown accused the government of complacency over the unemployment threat and said it was scandalous that not a single worker had been helped by the Restart scheme for the long-term adult jobless.
Sunak’s Kickstart scheme to tackle long-term unemployment among the under-25 age group had helped only three out of every 1,000 young people, the former prime minister added.
The chancellor said on Sunday that 100,000 places were lined up for young people under Kickstart, although the Treasury accepts that there is a lag between positions being found and placements starting.
Government complacency is betraying a generation of unemployed,” Brown said. “The pandemic hit a year ago but the government’s failure to move quickly is condemning a whole generation of young people to joblessness and rejection and many to mental depression.”
The former prime minster said the government would not release regional data to show what was happening at a local level but the research suggested that in cities the size of Liverpool, Bristol or Manchester the numbers in the work programmes under Kickstart were little more than 20 and at best 30 in each place.
“And worse even than this shocking blow to young people, is the scandalous failure so far to place just one adult on the government’s programme for the long term unemployed.”
Brown’s comments accompanied a report from the Alliance For Full Employment which estimated there were at least 1,000 under-25s in every constituency in Britain who have not had a job for at least six months – the official definition of long-term youth unemployment.
The Restart scheme for adult long-term unemployment – those out of work for more than a year – does not begin until the summer. Brown said Office for National Statistics data showed there were 470,000 people of all ages who were long-term jobless.
The report called for a 10-point plan to tackle unemployment, including:
Targeting new job creation in industries that are either understaffed, such as social care or expanding, such as renewable energy.
Temporary cuts in national insurance contributions for employers to create hiring incentives.
Advancing parts of the £100bn capital investment programme that would lead to immediate job creation, offering skills support for potential employees on infrastructure projects.
Bringing forward the date for the start of Restart and providing help to public authorities to take on the unemployed.
Increasing the scale and reach of Kickstart to provide work based training for the 1 million young unemployed; ensure adequate support and training is given to find long term employment. Extend the length of Kickstart beyond December 2021.
Brown said: “The Restart programme was supposed to offer a job to those have been out of work for 12 months. By the time men and women are offered places this summer and autumn, thousands will have been out of work for 18 months.
“The time for the chancellor to act is this Wednesday. His budget must kickstart Kickstart and restart Restart. He has to deliver a budget with the impetus, ambition and money to out match the scale of the looming unemployment tragedy.”
source: Larry Elliott
Levant
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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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