The UK government's plan to revamp the system of business rates will be little short of a disaster that would make the country's airports "uninvestable", an airports conference in London was told on Thursday.
While outlook for the sector in terms of expansion, connectivity and demand is buoyant, the chief executives of several major UK airports attending the AirportsUK 2024 conference in London singled out proposed changes to business rates as the single biggest challenge facing the sector. Essentially, the government wants to reduce business rates for high street retailers, but can only do this with a big rise in rates for companies with large properties, such as online retailers with warehouses and, of course, airports. The changes are due to be brought in from April 2026, and the lobby group, AirportsUK, contends the reforms will lead to a five-fold increase in business rates for Britain's airports from £350 million collectively currently to more than £1 billion annually.
Karen Dee, chief executive of AirportsUK said the sector can be a "real catalyst for economic growth across the UK" and contributes "more than £1 billion to the UK economy every week, almost a £100 million in UK air freight exports and more than a million jobs". Likewise, Mike Kane, the UK's aviation minister at the department of transport told the conference that "everything points to airports getting ready for a record-breaking 2025. We see airports teeming with confidence".
Most of the big UK airports are owned by a range of international investors, including Canadian pension funds, Australian retirement trusts, a Spanish infrastructure company, a French property and construction firm and sovereign wealth funds from Saudi Arabia and Qatar.
'Bucket of cash'
But while the gathered chief executives were enthusiastic about their growth prospects, they made clear they were unimpressed with the plan to revamp business rates as put forward by the Chancellor Rachel Reeves in her recent budget. "It's important we have a fair tax environment, and that's why we need to have the opportunity to solve this business rates issue solved at the earliest opportunity," said Stewart Wingate, the chief executive at Gatwick Airport, pointing out that his airport, which owned by the French company Vinci, faced a rise in business levies in the order of six times from the current £40 million annual charge. "We need to have investible conditions for our international shareholders and this threat of business rates is just not acceptable to us," he added.
Vincent Hodder, the chief executive of Leeds Bradford airport told the conference he feels the government looks at the aviation sector at the moment as "a bucket of cash that they can reach into and grab as much as they possibly can".
"The problem with that is that you are going to kill the goose that lays the golden egg," he added. "It is less attractive for infrastructure investors to invest in UK airports than it is for them to invest in airports in other parts of the world."
For Nick Barton, the chief executive of Birmingham airport, which faces a 400 per cent increase in its business rates after April 2026, the problem is the "political issues and noise that have been raised that have impacts on cost bases at airports that are currently quite disproportionate to the normal increase in costs that you would expect".
A recently leaked letter from AirportsUK to the Treasury said the reform of the business rates system would mean investment in airport assets "will decrease, routes to and from the UK will be lost (as can already be seen in Germany where taxes are rising), trade will be hurt, and British travellers will be hit with higher costs and less choice.”
Andrew Macmillan, Manchester Airports Group's chief strategy officer said the UK government was "struggling to co-ordinate, join up and actually have everything pointing in the same direction".
"Part of the next stage here, is how do we get the UK to be like some of those countries that really, really turn connectivity and their airports and aviation sector into a competitive advantage? Because given how connected we are as a country, that's what we need to do," he added.
For Jordan Cummins, director of competitiveness at the Confederation of British Industry (CBI) the government has "boxed themselves in" with the recent budget. "They just went too far, too quickly. They are also quite quickly realising that a U-turn would be quite embarrassing and so that usually entrenches even deeper. So, I don't see them going back on it," he added. "It was a mistake. Simple as that."
MATCH INFO
Qalandars 109-3 (10ovs)
Salt 30, Malan 24, Trego 23, Jayasuriya 2-14
Bangla Tigers (9.4ovs)
Fletcher 52, Rossouw 31
Bangla Tigers win by six wickets
A list of the animal rescue organisations in the UAE
The specs
Engine: 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp
Torque: 730Nm
Price: Dh649,000
On sale: now
The bio
Favourite vegetable: Broccoli
Favourite food: Seafood
Favourite thing to cook: Duck l'orange
Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania
Favourite place to travel: Home in Kuwait.
Favourite place in the UAE: Al Qudra lakes
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Day 3 stumps
New Zealand 153 & 249
Pakistan 227 & 37-0 (target 176)
Pakistan require another 139 runs with 10 wickets remaining
UAE currency: the story behind the money in your pockets
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
From exhibitions to the battlefield
In 2016, the Shaded Dome was awarded with the 'De Vernufteling' people's choice award, an annual prize by the Dutch Association of Consulting Engineers and the Royal Netherlands Society of Engineers for the most innovative project by a Dutch engineering firm.
It was assigned by the Dutch Ministry of Defence to modify the Shaded Dome to make it suitable for ballistic protection. Royal HaskoningDHV, one of the companies which designed the dome, is an independent international engineering and project management consultancy, leading the way in sustainable development and innovation.
It is driving positive change through innovation and technology, helping use resources more efficiently.
It aims to minimise the impact on the environment by leading by example in its projects in sustainable development and innovation, to become part of the solution to a more sustainable society now and into the future.
UAE currency: the story behind the money in your pockets
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%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Christopher%20McQuarrie%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tom%20Cruise%2C%20Hayley%20Atwell%2C%20Pom%20Klementieff%2C%20Simon%20Pegg%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE%20
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Results
4pm: Maiden (Dirt) Dh165,000 1,600m
Winner: Moshaher, Pat Dobbs (jockey), Doug Watson (trainer).
4.35pm: Handicap (D) Dh165,000 2,200m
Winner: Heraldic, Richard Mullen, Satish Seemar.
5.10pm: Maiden (Turf) Dh165,000 1,600m
Winner: Rua Augusta, Harry Bentley, Ahmad bin Harmash.
5.45pm: Handicap (D) Dh190,000 1,200m
Winner: Private’s Cove, Mickael Barzalona, Sandeep Jadhav.
6.20pm: Handicap (T) Dh190,000 1,600m
Winner: Azmaam, Jim Crowley, Musabah Al Muhairi.
6.55pm: Handicap (D) Dh190,000 1,400m
Winner: Bochart, Richard Mullen, Satish Seemar.
7.30pm: Handicap (T) Dh190,000 2,000m
Winner: Rio Tigre, Mickael Barzalona, Sandeep Jadhav.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE currency: the story behind the money in your pockets
Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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COMPANY%20PROFILE
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