Leisurewear is an alien import on the British political scene but one man has used it as armoury throughout 2020.
Prepping for the ruling Conservative party conference speech last week, Rishi Sunak posted on Instagram a picture of himself stood at the lectern while wearing grey joggers. Chic as the sweatpants were, I doubt that any other Conservative frontline politico would do that in public.
Mr Sunak's has been a meteoric success in a year filled with dying stars crashing to Earth. His Indian-born parents arrived in Britain, built a business and their bright son managed to go to Winchester School, one of the world’s oldest, on a scholarship.
Today, the fate of the British economy rests on his slender shoulders. The Covid-19 infection rate does not fall in his purview, so Mr Sunak has sought to shape the economic response with his own fresh personal touches.
Early in the crisis when Prime Minister Boris Johnson was hospitalised with Covid-19, Mr Sunak posted the first of the hoodie pictures wishing his leader back to health.
Ever since, clothing has sent signals.
Few would have picked a slim man on "the Tube", London's underground rail network, as the holder of the UK's purse strings in early September. He was wearing a face mask, unusual at the time in London when it was not compulsory on public transport. An hour later, he was at an event wearing a custom-made hoodie to launch the Kickstart jobs retraining scheme to respond to the pandemic.
Rarely has a politician made such a big impression with the public in such a short period of time.
Mr Sunak pitched into the job, which involves living in No 11 Downing St next to the boss, in February. Now 40, he married Akshata Murthy in 2009 after they met at Stanford University. She is the daughter of a legend of Indian business, Narayana Murthy, who is co-founder of Infosys, an IT company.
The Covid-19 crisis is nowhere near a turning point. Having pursued a lockdown and then allowed a social-focused reopening that neglected clear guidance on the workplace, the British government presides over an economy that remains almost 10 per cent smaller than it was in February.
As Chancellor of the Exchequer, Mr Sunak has not attracted opprobrium but, instead, has zoomed to the top of the confidence charts in public polling.
The MBA graduate has sought to maintain confidence that recovery is still in touch. Yet, he also commits to strong public finances and warns of "hard choices". "This doesn't mean a horror show of tax rises with no end in sight," he told the party conference when he appeared at the event in sober dark blue suit. "But it does mean treating the British people with respect, being honest about the challenges and showing them how we plan to correct our public finances."
Mobilising the power of the English language has been a key tenet of his work. Schemes such as the Kickstart training programme have been presented with pinpoint sharpness. A drive to ensure that people emerged from the lockdown confident about social interaction was brilliantly packaged.
More than 100 million meals were claimed through the government’s dining discount programme. Reuters
The Eat Out to Help Out scheme picked up half the food bills for meals on Monday-Wednesday and was a shot in the arm for hospitality. On Friday, he announced a Winter Economic Plan to withstand the rolling shutdown under way as infections grow.
For those with a dystopian view of the world, the pandemic can sometimes seem like branding exercise. But Mr Sunak’s efforts are far more accessible and encouraging than the government’s overall social distancing and public health slogans.
Beyond the words, Mr Sunak has also proven a savvy operator in how to mobilise the government machine. One former senior ambassador told a meeting last week that there was no coincidence that Mr Sunak’s high poll numbers came after he established a good relationship with his officials.
William Hague pointed out that Rishi Sunak was a model for the type of talented cabinet minister that Mr Johnson needed around him
The Treasury department is the undeniable gorilla in the British government machine. It not only raises taxes but expects other departments to justify how the funds are spent. While there is resistance from other departments – known to insiders as "consent and evade", or knowing to quietly disavow what is agreed upon – it is generally true that Treasury rules prevail.
A well-liked minister who is not at war with his officials draws dividends from a smooth functioning machine behind his every move. William Hague, the former foreign secretary and a sage observer of the Conservative party, last week made a comment on Mr Sunak, who followed in his footsteps by winning the very safe House of Commons seat of Richmond in Yorkshire.
Mr Hague pointed out that Mr Sunak was a model for the type of talented cabinet minister that Mr Johnson needed around him. “The government needs more Rishi Sunaks,” he said. “It needs to look in a couple of years like it’s a team of brilliant ministers directing hard-working advisers.”
As for the man himself, Mr Sunak was definite last week that he did not want to move on the top job. "God, no. Definitely not."
Damien McElroy is the London bureau chief of The National
Roll of honour
Who has won what so far in the West Asia Premiership season?
Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens
Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins
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
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Captain Marvel
Director: Anna Boden, Ryan Fleck
Starring: Brie Larson, Samuel L Jackson, Jude Law, Ben Mendelsohn
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
UAE currency: the story behind the money in your pockets
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip:Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
New UK refugee system
A new “core protection” for refugees moving from permanent to a more basic, temporary protection
Shortened leave to remain - refugees will receive 30 months instead of five years
A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
Under core protection there will be no automatic right to family reunion
Refugees will have a reduced right to public funds
Neil Thomson – THE BIO
Family: I am happily married to my wife Liz and we have two children together.
Favourite music: Rock music. I started at a young age due to my father’s influence. He played in an Indian rock band The Flintstones who were once asked by Apple Records to fly over to England to perform there.
Favourite book: I constantly find myself reading The Bible.
Favourite film: The Greatest Showman.
Favourite holiday destination: I love visiting Melbourne as I have family there and it’s a wonderful place. New York at Christmas is also magical.
Favourite food: I went to boarding school so I like any cuisine really.
UAE currency: the story behind the money in your pockets
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
