Friday, November 1, 2024
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Michael Lynn challenges Department over refusal to pay certain costs during criminal trial

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Jailed former solicitor Michael Lynn has brought a High Court challenge against the Department of Justice’s refusal to pay his lawyers for certain works carried out during the course of his lengthy criminal trial.

Lynn is currently serving a 5 and a half year sentence at Mountjoy Prison after he was found guilty earlier this year of stealing €17.9 million from six financial institutions by taking out multiple mortgages on the same properties.

Lynn, with an address at Redcross, Co Wicklow, claims the Department has refused to pay costs incurred by his solicitors when reviewing thousands of pages of documents in his criminal trial.

The process in question is known as ‘Review of Disclosure.’

Lynn claims that the trial, which was a retrial after a jury hearing his prosecution in 2022failed to reach a verdict, involved voluminous disclosure of thousands of documents and vast amounts of financial material from financial institutions.

It is estimated that the material took some 150,000 hours to review. Lynn, the court also heard, had a different set of solicitors represent him in the retrial as the previous solicitors were unable to act in the retrial.

Lynn claims the refusal to pay these costs regarding the review of disclosure amounts to a breach to his constitutional rights to a fair trial, and his rights under the European Convention on Human Rights.

Represented in his High Court Judicial Review action by Mark Lynam SC instructed by Mulholland Law, Lynn seeks reliefs including an order quashing the Departments refusal, and that the matter be remitted back for a fresh consideration.

The DPP is a notice party to the action.

Counsel said that thousands of additional material, over 9000 pages of documents, that was not included in the batch of documents disclosed during the first trial had to be reviewed as part of the retrial.

In addition a large number of copies of documents supporting the defence case also had to be produced during the retrial.

Counsel said that the Department has also refused to pay for the costs of his client’s solicitor having to provide some 30 copies of that material.

Counsel said that the Department had said in 2023 during exchanges over the issue that it would not pay for any further review of disclosed materials and that as he is a qualified solicitors Mr Lynn “could review the materials himself.”

Counsel said that was not an appropriate nor rational response to the application to have his costs covered.

Lynn also seeks declarations including that the Department has erred in law and fact and acted irrationally in refusing the applicant’s application.

The matter came before Ms Justice Niamh Hyland on Monday, who granted Lynn’s lawyers permission, on an ex parte basis, to bring his challenge.

The matter will return before the court next month.



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7 essential steps to guiding your business to private equity exit – Growth Business

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The journey of entrepreneurship is often compared to navigating a ship through uncharted waters. The goal for many is not just to survive the voyage, but to reach the lucrative shores of a successful exit.

Drawing from decades of experience and my own trials and triumphs in the business world, I’ve outlined seven key strategies to help you prepare, execute, and ultimately succeed in selling your business to private equity.

The earlier you start to prepare your business with a private equity exit in mind, the better chance you have of securing the most profitable deal. But keep in mind that, whilst it is absolutely key that you have a plan in place, don’t fall in love with your plan. Know where you are going but be prepared to pivot multiple times in order to reach your end goal.

1. Understanding your position

Before setting your sights on the horizon, it’s crucial to understand where your ship is currently docked. Are you running a lifestyle business that affords comfort but limited growth, or are you steering a high-growth venture poised for acquisition? Is the business currently fixed around you as an individual? These distinctions are critical as it directly influences your strategies and outcomes. A growth-oriented business often demands constant innovation and aggressive scaling, making it an attractive prospect for investors.

You need to have an accurate knowledge of the strength and weaknesses of your company. Understanding precisely where you are is the key to having a solid plan, so do not shy away from the analysis phase. A useful starting point is this Elephant hunting SWOTE analysis by Argenti.

2. Gauging the waters

Navigating towards a successful exit requires more than just hard work; it requires strategic foresight. You should be regularly assessing your company’s strengths, weaknesses, and market position against short-and-long-term external forces. This includes understanding your financial health, operational efficiency, and competitive standing.

Remember, private equity firms invest in potential. They look for businesses with a strong foundation that can withstand the rough seas of market fluctuations and economic downturns.

And be sure you have an acute knowledge of your financials. Many founders are critically unaware of their exact financial situation. If this isn’t your specialism, hire someone that can help you digest and understand this crucial information.

3. Preparing for the voyage

Preparation is your safeguard against the unpredictable. This means getting your financials in order, ensuring your operations are efficient, clients are happy, and your business model is scalable. These are key elements you will need to demonstrate in your deck and business plan to potential PE partners so lay the necessary groundwork.

It also involves building a strong management team. A robust team not only enhances your business’ operational efficiency, but also assures potential investors of the company’s stability post-exit. Your key people should be aware when you have started talking to private equity as they will be key to maximising company value and will also be under scrutiny during the due diligence process.

4. Engaging with private equity

Engaging with private equity is akin to choosing the right crew for your journey. Not all investors are created equal, and finding the right partner who shares your vision and offers not only capital, but strategic guidance is crucial. Understand the types of private equity firms, their investment strategies, and their industry preferences. Remember to do your due diligence on potential firms to ensure they live up to your expectations and needs. This could be through talking to other businesses who have worked with the firm.

Prepare to be scrutinised closely and be transparent about your business’ performance and potential. A truthful and optimistic presentation of your business can significantly enhance your credibility and attractiveness as an investment.

Do not wait for the exact moment you are ready to sell before starting to engage with private equity. It takes a long time to develop trust from both sides and to negotiate a mutually profitable deal. If this is your proposed exit strategy, you want to be building a positive business brand as early as possible to demonstrate longevity, customer satisfaction and industry expertise.

They might even end up approaching you first – and if they do, remember to still do your own due diligence to secure the best deal.

5. The art of navigation: negotiation

Once you have private equity interest, the art of negotiation determines the smoothness of your journey towards exit. This stage requires a keen understanding of your business’ value, the intricacies of deal structures, and the strategic foresight to align your interests with those of the investors.

The negotiation phase is not just about agreeing on a price, but also setting the terms that will govern your relationship post-deal. The following post-offer due diligence process will be meticulous. Ultimately, private equity want the deal to go through, so work with them closely and prepare thoroughly.

6. Life after exit

Many entrepreneurs focus so intently on the exit that they neglect to plan for life afterward. Exiting is not the end of your journey but the beginning of a new chapter.

You could choose to retire, start a new venture, or engage in philanthropy. Whatever you decide, planning for life after exit is as crucial as the exit itself. Ensure you have a strategy to manage your newfound wealth and freedom, and consider your role in the business, if any, post-sale.

7. Emotional compass

Navigating towards an exit is not solely a financial or strategic effort; it is an emotional one as well. Selling a business you’ve built from the ground up can be emotionally taxing. Where you were once making the decisions, you are now giving up all or a large proportion of control to another party, and this is not an easy step for many founders.   

It’s important to acknowledge and manage these feelings as you approach the exit. Support from family, friends, and professional advisors can provide the emotional anchorage needed during this transformative time. Acknowledge these feelings and ground yourself in possibilities that await you post-exit.

Conclusion

Steering your ship towards a successful exit is a multifaceted process that requires more than just business acumen. It demands a deep understanding of your business’ current state, meticulous preparation, strategic engagement with private equity, skilled negotiation, and emotional intelligence. By preparing diligently and navigating wisely, you can maximise your chances of exiting successfully and spectacularly. The journey towards a successful exit, like any great voyage, is challenging but immensely rewarding.

Read more

Why every business owner should have an exit plan – Almost half of UK business owners admit to not having an exit plan. Yulia Barnes of Barnes Law explains why you should

Partial exits: a balancing act – If it’s done correctly, a partial exit can advance your company by introducing new people with different skills and experiences, all the while allowing you to enjoy some of the wealth you have generated

Employee Ownership Trust – another way for you to successfully exit – Why business owners planning to sell their enterprises should also consider Employee Ownership Trusts



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Derby County's Max Bird says he'll be 'forever grateful' as Punjabi Rams honour Sky Sports' Dev Trehan


Max Bird said he would be “forever grateful” to Derby County as he reflected on scoring on his 200th and final appearance for the club, and helping the Rams return to the Sky Bet Championship.

The midfielder, who is a product of Derby County’s academy, made his first-team debut at 16 and scored the opener in a 2-0 win at home to Carlisle on the last day of the season that sent the club back into the second tier of English football.

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Highlights from the Sky Bet League One clash between Derby and Carlisle.

Bird now heads back to Bristol City. He signed there earlier this year, before returning to Derby County for the second half of the campaign and enjoying a memorable end to the 2023/24 season.

“As soon as I came back on loan after joining Bristol City, there was one aim. That was to get this club promoted,” Bird said.

“To do it with the performances that I had and the team-mates and staff that I did it with was fantastic.

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Paul Warne was proud of his Derby side as they earned promotion back to the Championship after a final day win over Carlisle.

“The fans that have seen me grow since I was 16. They have been absolutely terrific.

Max Bird celebrates after scoring Derby's opening goal against Carlisle
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Max Bird celebrates after scoring Derby’s opening goal against Carlisle

“I’ve had bad games and I’ve had good games but they’ve stuck with me and to hear them sing my name on the last match of the season is something that will live with me forever.

More from South Asians In Football

“I’m forever grateful to this football club and, maybe, one day I will be back.”

Punjabi Rams celebrate 10 years and honour Trehan

David Clowes (middle) Sky Sports' Dev Trehan and Punjabi Rams founder Pav Samra either side
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Sky Sports’ Dev Trehan, Derby County owner David Clowes and Punjabi Rams founder Pav Samra attend the group’s 10th anniversary celebrations

The Punjabi Rams have awarded journalist and scout Dev Trehan honorary membership status in recognition of his service to British South Asians in Football and his support for the group.

The Punjabi Rams are the first South Asian heritage supporters’ group formed under the Fans for Diversity banner.

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The Punjabi Rams and former captain Michael Johnson rejoice Derby County’s return to the Sky Bet Championship and the women’s team winning the FA National Plate.

The fans’ club celebrated their 10th anniversary with a fundraiser for local charities Umbrella Derby and Children First Derby at Pride Park at the weekend, which was attended by more than 200 people.

This season’s League One runners-up trophy and the FA Women’s National League Plate both went on display, with Derby County legends Roger Davies and Roy McFarland providing one of the highlights of the evening as they showed off their bhangra moves on the dancefloor in the Baseball Lounge.

Derby County's women's players wore traditional Indian outfits for the Punjabi Ram's 10th anniversary celebrations
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Derby County’s women’s players wore traditional Indian outfits for the Punjabi Rams 10th anniversary celebrations

West Ham academy graduate and former Fans for Diversity chief Anwar Uddin introduced the group to Trehan back in 2014, sparking a chain of events that would positively impact Derby County and create tangible change for South Asians in Football.

Punjabi Rams founder Pav Samra told Sky Sports News: “Dev has supported and tried to elevate us since day one and we’re very proud to make him our first honorary member.

Max Bird and Dev Trehan

“Our connection with the community and relationship with the club has grown immeasurably over the years, with two of our members also now part of matchday operations for the women’s team.

“Dev has also worked closely with our women’s team, particularly our winger Kira Rai, who has since been empowered to become a driving force for change for British South Asians in football.”

Trehan, who partnered with UCFB to launch the world’s first South Asians in Football Leadership scholarship, said: “I am truly humbled to be honoured like this by the Punjabi Rams, who are much more than a supporters’ group.

“They are a beacon of hope and inspiration, serving people across Derby and beyond, promoting a positive message for British South Asians and English football. I’m proud of their progress and excited for the future.”

Fans for Diversity campaign manager Nilesh Chauhan added: “This is a fantastic gesture that cements what has already been a great partnership.

“Dev has been very supportive of the Punjabi Rams, Kira Rai and the work of the Fans for Diversity campaign over the years and this is a great platform to build on.”

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How Easy Is It To Move To New Zealand? Everything You Need To Know  – Prowess

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Moving to a new country is a significant life decision, filled with excitement and challenges. To many, migration is the gateway towards fulfilling their dreams, professional growth, and financial stability. Some also migrate to reunite with loved ones.

Whatever the reason, one of the most significant factors to consider is the destination country. Among the world’s top choices, New Zealand stands out with its stunning landscapes and robust economy, which attract people from all over the world. But how easy is it to move to New Zealand? This article provides a comprehensive overview to help you understand the process and what you can expect.

Continue reading, learn more, and find the information you’re looking for to take that first step towards living the life you aspire for!

Understanding the visa requirements

The first step in your journey to New Zealand is understanding the visa requirements. The country offers several visa types, including work visas, student visas, and residence visas. The correct visa for you will depend on your circumstances, such as your professional skills, your reason for moving, and whether you have family in New Zealand.

Work visas are particularly popular among expats, as they allow you to live and work in New Zealand for a specific period. For instance, the Essential Skills Work Visa requires you to have a job offer from a New Zealand employer and the skills to fill a role that a local can’t fill.

For those who wish to stay permanently, the Skilled Migrant Category offers a pathway to residence for those with the skills and qualifications needed in the New Zealand workforce. Applicants are assessed on factors like age, work experience, and education.

Pros and cons

When considering a move to New Zealand, it’s crucial to weigh the living in New Zealand pros and cons. Here’s a detailed look at some of these advantages and disadvantages:

Pros

Stunning natural beauty

New Zealand is renowned for its breathtaking landscapes, from rolling hills and pristine beaches to impressive mountains and lush forests. This makes it a paradise for nature lovers and outdoor enthusiasts.

High quality of life

New Zealand consistently ranks high in global quality of life indices, with a strong emphasis on work-life balance, community, and overall well-being.

Safety

It’s considered one of the safest countries in the world, with low crime rates and a peaceful political climate.

Strong healthcare system

The healthcare system is robust, offering high standards of care that are either free or heavily subsidised through the public system for residents.

Friendly people and cultural diversity

New Zealanders, commonly known as Kiwis, are known for their friendliness and welcoming nature. The country also boasts a multicultural environment where diverse cultures are celebrated.

Educational opportunities

The education system is well-regarded internationally, providing high-quality education from primary to tertiary levels.

Cons

Cost of living

The cost of living can be high, particularly in major cities like Auckland and Wellington. Housing can consume a significant portion of income.

Remote location

New Zealand’s geographical isolation can make international travel costly and time-consuming. This can be a drawback for those with family abroad or who travel frequently.

Weather

The weather can be a downside, depending on where you come from. Some regions in New Zealand experience significant rainfall, and the weather can be changeable and unpredictable.

Limited job market

While opportunities exist, the job market is relatively small and competitive, especially in specific industries. This may limit job opportunities compared to larger economies.

Earthquake risk

New Zealand is located on the Pacific Ring of Fire and experiences frequent seismic activity, which can concern new residents.

Rural nature of some areas

While this can be seen as a pro, the rural nature of much of New Zealand means that amenities and services are only sometimes as readily available as they are in more densely populated countries.

Depending on personal circumstances and preferences, these factors play a significant role in deciding whether to move to or stay in New Zealand. It’s always a good idea to visit and explore different areas to truly understand what living there might be like for you.

The ideal candidate for New Zealand migration: An overview

The likelihood of being accepted as a migrant in New Zealand depends on several factors, including the type of visa you’re applying for, your professional background, your qualifications, and how these align with New Zealand’s immigration requirements. Here are some key considerations:

Skill set and occupation

New Zealand has a list of skill shortages, and your chances might be higher if your profession is on this list. The Skilled Migrant Category visa, for example, is designed for individuals with skills contributing to New Zealand’s economic growth.

Age

The points-based system for some visas often favours younger applicants, who are seen as having a longer working life ahead.

Education

Higher qualifications can improve your score in the immigration points system, mainly if your degrees are in areas that are in demand or relevant to the job market in New Zealand.

Work experience

Relevant work experience, especially in New Zealand or similar markets, can increase your chances of a successful application.

Health and character

Like many countries, New Zealand requires potential immigrants to have health certificates and a clean criminal record.

English proficiency

English proficiency is crucial as it’s the primary language spoken in New Zealand.

If you’re considering applying for immigration, it might be helpful to consult with an immigration advisor or use the tools provided on the official New Zealand immigration website to assess your eligibility. These resources often include detailed information and can effectively guide you through the application process.

Conclusion

Moving to New Zealand goes beyond managing logistics; it’s about adjusting to a new way of life. While relocating has challenges, the rewards of living in such a beautiful and progressive country can be well worth the effort. Plan carefully, gather as much information as possible, and New Zealand could be your new sweet home.



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The Cost Of A Breach: Why Investing In Cybersecurity Is Essential For Businesses – Prowess

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The significance of cybersecurity for businesses cannot be overstated. With the proliferation of data breaches and cyber threats becoming more sophisticated, the potential damages—ranging from financial loss, and reputational damage, to legal liabilities—are escalating. This introduction aims to shed light on the imperative of investing in robust cybersecurity measures.

It not only acts as a defense mechanism but also as a facilitator of trust, ensuring customers and stakeholders that their information is safeguarded. The necessity for businesses to prioritize cybersecurity investments has never been more critical, as the cost of a breach can far outweigh the cost of prevention.

Understanding the Landscape of Cyber Threats

The landscape of cyber threats is both vast and complex, evolving at an unprecedented pace. Malicious actors use a variety of tactics, techniques, and procedures (TTPs) to exploit vulnerabilities within a business’s digital infrastructure. This could range from phishing attempts to ransomware attacks, each with the potential to critically disrupt operations and compromise sensitive data. The sophistication of these cyber threats means that traditional security measures are often inadequate.

Businesses must stay abreast of the latest cyber threats and adapt their security strategies accordingly. This involves not only implementing state-of-the-art security solutions but also fostering a culture of cybersecurity awareness among employees. A professional experienced in cybersecurity can help businesses navigate this complex landscape and develop a customized security plan that addresses their specific vulnerabilities. Not investing in cybersecurity is akin to leaving the front door of a business unlocked and unguarded, inviting cyber criminals to exploit weaknesses.

The Financial Implications of Data Breaches

Data breaches can have profound financial implications for businesses. Immediate costs include incident response efforts, forensic investigations, and customer notification expenses. However, the long-term financial impact can be even more significant, with potential revenue loss due to decreased customer trust and loyalty.

Additionally, businesses may face regulatory fines and legal costs if the breach involves sensitive customer information. The cumulative financial impact of these factors can be devastating, underlining the importance of investing in preemptive cybersecurity measures to mitigate the risk of a data breach.

Reputation and Trust in the Digital Age

In the digital age, a company’s reputation can be its most valuable asset or its biggest liability. A single data breach can significantly erode customer trust, which can be difficult to rebuild. The perception of negligence in protecting customer data can lead to a loss of business, as customers migrate to competitors they perceive as more secure.

Building and maintaining trust requires a proactive approach to cybersecurity, demonstrating to customers that their data is being actively protected. This not only helps in retaining customers but also in attracting new ones, as trust becomes a competitive advantage in the marketplace.

Regulatory Compliance and Legal Liabilities

Regulatory frameworks designed to protect consumer data are becoming increasingly stringent worldwide. Non-compliance with regulations such as the General Data Protection Regulation (GDPR) in the European Union, or the California Consumer Privacy Act (CCPA) in the United States, can result in substantial fines and penalties.

Beyond the direct financial penalties, legal liabilities including lawsuits and settlements can further compound the costs associated with a data breach. Compliance, therefore, is not just about adhering to regulatory requirements but also avoiding the legal and financial repercussions of failing to protect consumer data.

The Human Factor in Cybersecurity

A significant number of cyber incidents are the result of human error, underscoring the critical role of training and awareness programs in any cybersecurity strategy. Employees must be made aware of the common tactics used by cybercriminals and trained to recognize and respond to them effectively.

Investing in regular, up-to-date training can dramatically reduce the risk of a breach. This includes not only educating employees on the importance of strong passwords and recognizing phishing emails but also encouraging a culture of security where employees feel empowered to report suspicious activities.

Investing in Advanced Cybersecurity Solutions

In the face of evolving cyber threats, businesses must invest in advanced cybersecurity solutions that go beyond basic defense mechanisms. This includes technologies such as machine learning and artificial intelligence, which can predict and respond to cyber threats in real time, and blockchain for secure transactions.

Equally important is the establishment of comprehensive incident response plans that outline specific procedures to be followed in the event of a security breach. Such investments not only protect against the direct costs associated with cyber incidents but also safeguard the business’s reputation, customer trust, and ultimately, its bottom line.

The myriad threats posed by cybercriminals in today’s digital landscape underscore the critical importance of cybersecurity for businesses. As cyber threats continue to evolve in complexity and sophistication, the need for robust cybersecurity measures is clearer than ever. Investing in comprehensive cybersecurity strategies is not merely a precautionary measure; it is a fundamental business requirement that safeguards financial stability, preserves reputation, and ensures compliance with regulatory standards.



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Oleksandr Usyk vs. Tyson Fury: What time is the fight? What channel is it on? | Boxing News


What TV channel is Oleksandr Usyk vs. Tyson Fury on?

In the UK, both TNT Sports and Sky Sports will broadcast the event on their pay-per-view platforms. DAZN will also broadcast worldwide on pay-per-view. Prices are as follows: TNT Sports—£24.99, Sky Sports£24.95, DAZN£24.99 ($69.99 in the U.S).


Where is Oleksandr Usyk vs. Tyson Fury being held?

The undisputed heavyweight title fight will be held at the Kingdom Arena in Riyadh, Saudi Arabia.


What time does Oleksandr Usyk vs. Tyson Fury start?

TNT Sports will begin their coverage at 2.30pm, Sky Sports at 4pm and DAZN 5pm. The main event between Oleksandr Usyk and Tyson Fury is expected to start at 11.05pm UK time.


What titles are on the line in Oleksandr Usyk vs. Tyson Fury?

All four world titles will be on the line. The WBC, WBA, WBO and IBF.


How many rounds is the fight?

The fight is scheduled for 12×3 minute rounds.


What fights are on the Oleksandr Usyk vs. Tyson Fury undercard?

12 x 3 mins – IBF World super-featherweight title

Joe Cordina vs. Anthony Cacace

12 x 3 mins – IBF World cruiserweight title (vacant)

Jai Opetaia vs. Mairis Briedis

12 x 3 mins – Heavyweight contest

Agit Kabayel vs. Frank Sanchez

10 x 3 mins – Cruiserweight contest

Sergey Kovalev vs. Robin Sirwan Safar

12 x 3 mins – WBC Silver lightweight title (vacant)

Mark Chamberlain vs. Joshua Oluwaseun Wahab

10 x 3 mins – Featherweight contest

Isaac Lowe vs. Hasibullah Ahmadi

10 x 3 mins – WBO Inter-Continental heavyweight title (vacant)

Moses Itauma vs. Ilja Mezencev

10 x 3 mins – WBA Inter-Continental light-heavyweight title (vacant)

Daniel Lapin vs. Octavio Pudivitr

8 x 3 mins – Cruiserweight contest

David Nyika vs. Michael Seitz



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New ‘dividing line’ on security suggests Rishi Sunak is in damage limitation mode – Politics.co.uk

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The below content first appeared in Politics.co.uk’s Politics@Lunch newsletter, sign-up for free here and never miss this daily briefing.

Another day, another set of competing set-piece events from the prime minister and his wannabe successor, Keir Starmer. That sound you hear, that’s the starting gun on 2024’s long election campaign being well and truly fired.

Delivering a “major” speech on national security this morning (according to Downing Street’s billing), Rishi Sunak warned of a “dangerous” five years ahead and that, already, the world is “closer to a dangerous nuclear escalation than at any point since the Cuban missile crisis”.

He argued that Britain is at a “crossroads” and “almost every aspect of our lives is going to change”. Naturally, he went on to blast Keir Starmer for having “no plans” and “no principles either”.

In positioning the Conservatives as the natural party of defence in a less safe world, Sunak intends to draw another totemic “dividing line” with Labour. It is an unsubtle signal that security will now become a dominant and recurring theme of the Conservatives’ re-election bid — after months of relentless messaging on the economy. Given how little success has flowed from Sunak’s consecutive NI cuts, are we now seeing the outline of *another* relaunch?

The PM’s address, of course, comes after he announced last month that a future Conservative government will spend 2.5 per cent of GDP on defence by 2030. Responding to the plan at the time, Labour adopted a less trenchant view — arguing it would only do the same when the economic conditions allow.

This previous announcement on defence spending, especially in light of Sunak’s comments today, can reasonably be viewed as a classic pre-election “trap”: the commitment to a hefty spending pledge was meant to pile pressure on Labour to match the position and, in turn, loosen its commitment to fiscal discipline. Sensing danger, Starmer has so far refused to bite.

And so No 10 now senses an opening in the — admittedly slight — divergence in the Conservative and Labour positions on defence. Speaking on Sunday in a bid to set up Sunak’s speech, foreign secretary Lord Cameron told Sky News: “This whole issue [is] about security — because it’s not just about what’s happening in other parts of the world. Right here in the UK, you see China cyber attacks, you see Iranian and Russian physical attacks”.

He added: “We know that security is the most important thing, and Rishi’s got the policies and the team to deliver”.

Of course, while the stress on security is a relatively new development in the Conservatives’ messaging, it sits neatly within the prime minister’s “better the devil you know”/“stick with the plan” strategy. In a dangerous world, Sunak wants to reframe the Labour Party’s “change” platform as an unnecessary risk amid a backdrop of immense geopolitical turbulence. The heart of the PM’s argument is clear: don’t risk the UK’s economic recovery or national security by backing the untested Starmer.

But what may be more significant than the substance of Sunak’s speech, is that the broader pitch suggests his strategists — in the wake of the local elections — are now leaning relatively heavily into damage limitation. Suffice it to say, a security-heavy campaign is unlikely to generate a surprise groundswell of support for the Conservatives over the next few months. It may swing some lost Conservatives back to the party, or perhaps motivate apathetic Tories to turnout on election day. But it is difficult to imagine an electoral effect more seismic than this.

Sunak insisted today that he remains “confident” that the Conservatives will prevail in the general election. The strategy, I’m afraid, indicates otherwise.

Ultimately, it’s worth stressing that the PM’s core political problem is not his top-line messaging, broader strategy or lack of “dividing lines” (recent relaunches will have hardly buttressed Sunak’s pitch as the political essence of stability, in any case). Rather, the greatest drag on the PM’s fortunes is undoubtedly the Conservative brand at large.

One of Starmer’s more authoritative arguments is that recent governance — from Boris Johnson to Sunak — has been so chaotic, that the “secure” choice is actually to vote for change. In fact, “security” has long been a key undergirding tenet of Starmerism; not just in restoring certainty to governance — but with pitches on economic security, energy security, national security and, just last week, border security.

Damage limitation, then, would now appear to be shaping Rishi Sunak’s ever-evolving politics. In this way, I was interested to read in The Guardian over the weekend that the Conservatives have actually updated their election strategy to focus on limiting MP losses, at the expense of making inroads into opposition territory. According to The Guardian, CCHQ is now ploughing extra resources into as many as 200 seats deemed at risk at the next election.

This amounts to the Conservative Party backtracking on its much-reported 80:20 election strategy — which saw Sunak’s party strategists focus on defending their 80 most marginal seats and winning 20 target seats. Judging by the state of the opinion polls, of course, limiting losses would seem to be a more realistic objective.

Meanwhile, Keir Starmer is in the West Midlands today for a big in-person meeting with Labour’s many metro mayors. With discussion about the development of a “gold standard” for growing regional economies on the agenda, Starmer will be accompanied by 10 mayors — including Andy Street’s successor in the West Midlands, Richard Parker.

It’s not a pre-election get-together Sunak can much mirror, with his party having been reduced to one metro mayor — Ben Houchen in Tees Valley — after the local elections. The contrast reflects the varying states of the Labour and Conservative election campaigns: Starmer is on the up, revelling in his local elections success; while Sunak is responding to recent routings with a damage limitation exercise.

It’s going to be a long general election campaign indeed.

Lunchtime briefing

Common sense minister praises Rishi Sunak as ‘intellectual giant’

Labour hits back at ex-justice secretary who made Elphicke lobbying claims

Lunchtime soundbite

‘Rishi Sunak is an intellectual giant, absolutely’

—  At a Centre for Policy Studies event today, the so-called common sense minister, Esther McVey, responds to a question doubting the policy-making process of the government. More here.

Now try this…

Reform UK reliant on leader Richard Tice for 80% of funding since 2021
The Guardian reports.

Thangam Debbonaire: “I will never take voters for granted”
Shadow culture secretary Thangam Debbonaire speaks to The House magazine about why she is confident of seeing off the Greens in her Bristol West seat.

Will a Labour government face a mayors’ revolt?
The New Statesman’s Freddie Hayward writes that, if Keir Starmer fails to deliver growth, new fractures will emerge between Westminster and the regions. (Paywall)

On this day in 2022:

Slashing 91,000 civil service jobs ‘perfectly reasonable’ says Rees-Mogg





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Sunak claims Starmer win would embolden Putin as election battle hots up

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Rishi Sunak used a major speech about the threats facing the UK to attack his Labour rival.



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Simply Asset Finance Achieves Record Revenue as SMEs Embrace Alternative Lenders Over Big Banks

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London-based specialist lender Simply Asset Finance has reached a significant milestone, posting a record annual revenue of £52.3 million for the fiscal year 2023, marking a remarkable 37% increase from the previous year.

This achievement underscores the growing trend of small and medium-sized enterprises (SMEs) seeking alternative financing options over traditional big banks.

Despite challenges, Simply Asset Finance maintained profitability for the third consecutive year, with a pre-tax profit of £5.5 million, albeit slightly lower than the £7.1 million reported in 2022. The firm’s loan book also saw substantial growth, expanding by 15% to reach £480 million in the past year. Since its establishment in 2017, Simply has facilitated financing for approximately 7,500 SMEs across Britain, with total loan origination to date standing at £1.3 billion.

Mike Randall, Chief Executive of Simply Asset Finance, attributed the company’s continued growth to the pressing need for improved access to business funding in the UK. Amid criticisms of high street banks for scaling back on small business lending and implementing restrictive practices, SMEs are increasingly turning to specialist lenders for support. According to UK Finance, the majority (59%) of SME lending now originates from outside traditional banking institutions.

Simply’s success is further exemplified by its inclusion in the Financial Times’ ranking of Europe’s 1,000 fastest-growing financial services businesses for three consecutive years, affirming its position as a leader in the industry. Randall highlighted the role of Simply’s “Simply Connect” technology platform in driving growth, which not only serves its own customers but also supports broker partners and integrates with lending partners as a white-labelled product.

Looking ahead, Randall expressed optimism for 2024, foreseeing a positive year for SME growth amidst increasing resilience and business optimism. Chief Financial Officer Stefan Wolvaardt echoed this sentiment, emphasizing the company’s positive profitability amidst a challenging economic landscape marked by high interest rates and double-digit inflation. As SMEs continue to navigate uncertainties, Simply Asset Finance remains committed to providing accessible funding solutions to support their growth aspirations.





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Families still looking for missing loved ones after devastating Afghanistan floods killed scores

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When he heard that devastating floods hit his village in northern Afghanistan last week, farmer Abdul Ghani rushed home from neighboring Kunduz province where he was visiting relatives. When he got home, he found out that his wife and three children had perished in the deluge.

Two of his sons survived but another son, who is 11, is still missing. “I couldn’t even find the road to my village,” he said, describing how he turned back and went another way to reach his district of Nahrin in Baghlan province.

Across Baghlan, others like Ghani and survivors of the disaster were still searching for their missing loved ones and burying their dead on Monday.

“Roads, villages and lands were all washed away,” Ghani said. His wife, his 7-year-old and 9-year-old daughters and a 4-year-old son died.

“My life has turned into a disaster,” he said, speaking to The Associated Press over the phone.

The U.N. food agency estimates that the unusually heavy seasonal rains in Afghanistan left more than 300 people dead and thousands of houses destroyed, most of them in Baghlan, which bore the brunt of floodings on Friday.

Survivors have been left with no home, no land, and no source of livelihood, the World Food Organization said. Most of Baghlan is “inaccessible by trucks,” said WFP, adding that it is resorting to every alternative it can think of to get food to the survivors.

U.N. Secretary-General António Guterres has expressed condolences to the victims, said a statement on Sunday, adding that the world body and aid agencies are working with the Taliban-run government to help.

“The United Nations and its partners in Afghanistan are coordinating with the de facto authorities to swiftly assess needs and provide emergency assistance,” according to the statement.

The dead include 51 children, according to UNICEF, one of several international aid groups that are sending relief teams, medicines, blankets and other supplies. The World Health Organization said it delivered 7 tons of medicines and emergency kits to the stricken areas.

Meanwhile, the U.N. migration agency has been distributing aid packages that include temporary shelters, essential non-food items, solar modules, clothing, and tools for repairs to their damaged shelters.

The latest disaster came on the heels of a previous one, when at least 70 people died in April from heavy rains and flash floods in the country. The waters also destroyed about 2,000 homes, three mosques and four schools in western Farah and Herat, and southern Zabul and Kandahar provinces.



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