Anyone looking for something imaginative and exciting when Rachel Reeves addresses the City on Thursday need not bother. The recent UK budget was a patching-up financial statement, raising relatively small amounts of revenue from here, to spend on urgent needs there. In terms of long-term economic vision, there was nothing.
Particularly lacking were large-scale infrastructure developments. France has les grands projets; in Britain there is a plan to spend £100 million on the creation of a tunnel to protect bats on the new, much-reduced HS2 rail line. At Mansion House to mark the installation of a new lord mayor of London, Ms Reeves will change the rules on investing pensions but not say much about the purpose of her shake-up.
The bat controversy is a tad unfair but it says much about the paucity of plans for substantial building schemes that the bats have attracted more comment and coverage since Reeves’ address than any other construction proposal.
Put simply, Britain has stopped doing. While that is bad enough for a country once renowned for ambition, design and innovation, it fails to realise two things: major projects are an excellent, proven way of galvanising the economy, providing jobs across the supply chain as well as long-term improvement; and the UK is in grave danger of slipping behind the facilities provided by its peers, and in an increasingly competitive market for international investment such a backward step is deeply troubling.
Britain led the world with its railways. Not any more. Heathrow was the globe’s leading airport. No longer. The nation’s motorway network is reduced to using computer technology to reduce traffic speed to keep vehicles flowing. There is only one major road from West to East across the North of England, home to a swathe of manufacturing industry. As for the East coast, from London to Scotland, there is no continuous fast motorway. Instead, in places it is a two-lane carriageway, interspersed with roundabouts.
There was no talk either from Reeves of world-beating, large-scale digital, medical and science centres. No power plants either. Little in the way of creating.
Nothing inspiring is in the pipeline. To think, it was not that long ago that Margaret Thatcher was agreeing with Francois Mitterrand to build a tunnel under the English Channel. A Conservative prime minister was prepared to share with a socialist president. That took courage on her part but so determined was she, so convinced of the benefits, that she went ahead.
Boris Johnson also got it. At various times, he envisaged a bridge or tunnel from Scotland to Northern Ireland, an airport on an artificial island in the Thames Estuary, a second fixed link to France. His problem was that while he talked the talk he had no means of execution. Still, he managed to aspire and to lift.
It was not that long ago that Margaret Thatcher was agreeing with Francois Mitterrand to build a tunnel under the English Channel
Johnson was the first politician to speak of ‘levelling up’, ending the perennial, socially and economically ruinous North-South divide. The detail and the cost typically did not detain him. Again, though, he made people believe that a problem hitherto thought to be unsolvable could be resolved.
His wasn’t just a signal to Britain, it was a message to the world. Today, Keir Starmer likes to say ‘we’re open for business’ without apparently realising that other nations are also ‘open’ and they’re busy, constantly boosting their offering.
Britain is mired on two counts. First, there is a genuine lack of cash. Decades of neglect mean that the bill to correct existing weaknesses is considerable. Schools are crumbling, hospitals are not equipped to cope, transport is creaking, energy security is flawed, there is a desperate shortage of affordable quality housing stock. Just putting that right demands many billions. Meanwhile, the appetite of the NHS and welfare state is never sated.
That’s before attention turns to additions and improvements, extras if you will, that bear reasonable comparison to those in France and elsewhere. Here, we’ve allowed ourselves to become terrified.
There’s a reluctance in government to explore shared private-public funding, which leads to the total outlay, and the risk, being borne by the taxpayer.
This engenders an ultra-cautious approach that slows and, ironically, only adds to the final spend. HS2 is a case in point. Originally conceived as a super-quick train service connecting London with Birmingham and the North-West, akin to France’s TGV, it’s taken decades and is still nowhere near being built. More and more consultants were hired, planning permissions were blocked or took forever to gain approval, estimates as to the level of public investment required and the time taken to completion kept on climbing. This fuelled rows that only added to the delays.
It’s now a drastically pared back route, going only as far north as Birmingham. Yet the controversy and stalling rumbles on. Safeguarding the bats is one of 8,276 separate ‘consents’ required from public bodies, even for this truncated scheme to go ahead. At one stage, when it was heading to the cities of Manchester, Liverpool and Leeds, HS2’s estimated cost was extending beyond £130 billion. That’s come down as the project has been cutback, but it’s still put at £66 billion. Most of that will go on legal and planning expenses, poor forecasting and inflation – as the timeframe has lengthened so it’s been hit by a worldwide rise in the cost of materials such as concrete and steel.
An insight into the fear that grips decision-making came this week with new Conservative Party leader Kemi Badenoch’s evidence to the Post Office Horizon inquiry (now – incredibly, but perhaps not – in its fourth year). Compensation rightfully due for the sub-postmasters caught up in the scandal was held back, said Badenoch, previously trade secretary, by civil servants refusing to say anything blunt in a document. This was because they were scared in case the memo was ever made public and they were accused of being too direct. They were also, she said, afraid of the thought of having it flashed up on screen at inquiries like the very one she was addressing.
That meant ministers did not see highlighted, simply understood issues – they were hidden and obscured, never to feature, as the officials wished.
Badenoch was defending her corner. Nevertheless, the picture she painted was depressing. Far from well-oiled and humming, the state machine is rusting and stalled.
Put what she said alongside Reeves’s budget and you can see why Britain is no longer attempting to forge ahead. We must raise our game.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Killing of Qassem Suleimani
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
MATCH INFO
Manchester United 1 (Rashford 36')
Liverpool 1 (Lallana 84')
Man of the match: Marcus Rashford (Manchester United)
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Cofe
Year started: 2018
Based: UAE
Employees: 80-100
Amount raised: $13m
Investors: KISP ventures, Cedar Mundi, Towell Holding International, Takamul Capital, Dividend Gate Capital, Nizar AlNusif Sons Holding, Arab Investment Company and Al Imtiaz Investment Group
How to volunteer
The UAE volunteers campaign can be reached at www.volunteers.ae , or by calling 800-VOLAE (80086523), or emailing info@volunteers.ae.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
BOSH!'s pantry essentials
Nutritional yeast
This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.
Seeds
"We've got a big jar of mixed seeds in our kitchen," Theasby explains. "That's what you use to make a bolognese or pie or salad: just grab a handful of seeds and sprinkle them over the top. It's a really good way to make sure you're getting your omegas."
Umami flavours
"I could say soya sauce, but I'll say all umami-makers and have them in the same batch," says Firth. He suggests having items such as Marmite, balsamic vinegar and other general, dark, umami-tasting products in your cupboard "to make your bolognese a little bit more 'umptious'".
Onions and garlic
"If you've got them, you can cook basically anything from that base," says Theasby. "These ingredients are so prevalent in every world cuisine and if you've got them in your cupboard, then you know you've got the foundation of a really nice meal."
Your grain of choice
Whether rice, quinoa, pasta or buckwheat, Firth advises always having a stock of your favourite grains in the cupboard. "That you, you have an instant meal and all you have to do is just chuck a bit of veg in."
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Our legal advisor
Rasmi Ragy is a senior counsel at Charles Russell Speechlys, a law firm headquartered in London with offices in Europe, the Middle East and Hong Kong.
Experience: Prosecutor in Egypt with more than 40 years experience across the GCC.
Education: Ain Shams University, Egypt, in 1978.
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
Graduated from the American University of Sharjah
She is the eldest of three brothers and two sisters
Has helped solve 15 cases of electric shocks
Enjoys travelling, reading and horse riding
Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
About Takalam
Date started: early 2020
Founders: Khawla Hammad and Inas Abu Shashieh
Based: Abu Dhabi
Sector: HealthTech and wellness
Number of staff: 4
Funding to date: Bootstrapped
THE DETAILS
Solo: A Star Wars Story
Director: Ron Howard
2/5
