Minister says UK public inquiry into Covid now would be ‘premature’
March 17, 2021, 12:29 pm

Minister says UK public inquiry into Covid now would be ‘premature’

Kwasi Kwarteng said he was sure there would be ‘appetite’ for an inquiry after the economy had reopened.

Reopening the economy is main priority for government, says the business secretary, Kwasi Kwarteng

A senior minister has rejected calls for a public inquiry into the UK government’s handling of the coronavirus pandemic, which has resulted in the worst death toll per capita of any of the world’s large economies.

Appearing on Sky News, the business secretary, Kwasi Kwarteng, would not be drawn on a timeline for getting an inquiry under way as the UK’s coronavirus fatalities rose to almost 126,000.

The minister’s remarks come as a number of influential figures told the Guardian they supported a public inquiry, with Lord Kerslake, the head of the civil service under David Cameron, saying that the inquiry should begin by summer. Polling for the Guardian also revealed that 47% back an inquiry, which has legal powers to compel people to give evidence under oath, with just 18% saying they were opposed.

Asked why the government still has not given a date for an inquiry after the prime minister’s pledge for one in July, Kwarteng said it would be “premature” to launch an inquiry, arguing instead that the reopening of the economy was the main priority.

The business secretary said: “Personally I think what we’ve got to do is get through the roadmap and reopen the economy. And then once the economy is reopened, once we’ve got through the worst of the pandemic – and it’s still with us – we can have a debate and I’m sure that there’ll be plenty of room for an inquiry.

“But we haven’t – it seems premature to launch an inquiry when pandemic is still all around us.”

When pressed on whether the inquiry could take place after the summer, given the success of the vaccine rollout and progression through the government’s roadmap, Kwarteng was hesitant to commit to any timeline, saying he was sure there would be “appetite” for an inquiry after the unlocking of the economy.

“We should wait and see this process through, we’ve got a roadmap … We’ve got to try and get through that process, reopen the economy and see what the medium-term effects of Covid have been, look at the employment situation,” Kwarteng said.

“And then I’m sure there’ll be plenty of room and plenty of appetite for a full inquiry into what happened.”

The minister’s comments echo Downing Street’s position. The prime minister’s spokesperson said on Tuesday that “now is not the right time to devote huge amounts of official time to an inquiry”, adding that “there will be an appropriate time in the future” for an analysis.

In response to Kwarteng’s comments, Labour’s Bill Esterson, the shadow minister for trade, asked whether the minister wanted to avoid responsibility for the government’s shortcomings in its coronavirus strategy.

Esterson tweeted: “Kwasi Kwarteng says now is not the time for an enquiry into government’s handling of pandemic. Doesn’t he want to learn the lessons from what went wrong so we can improve our response for the rest of the crisis? Or is it that he wants to avoid blame for the government’s failure?”

source: Clea Skopeliti

Levant

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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.