British politics: A horse race

Without question, the Conservative Party has positioned itself into being the dominant force in UK politics. Certainly this is not good for the believers of socialism for as much as they preach equal opportunities, they do not stand behind them. The Conservatives are supported by the wealthy who will always want to protect all that they have. Over many years they have protected their ‘own’ from prosecution — scandals, child abuse, flouting immigration laws and the list goes on.

So the rich get richer or at least do not lose and the poor see rising costs, lower standards of services in education, healthcare, a police service which definitely has its own set of skeletons in the closet and rising food costs. Moreover, the Conservatives overlook some of the important issues that affects every one of us. Take banking for example, which was once a respected profession, however, not anymore. Libor fixing, stock market price manipulation, extortionate loan interest rates, mis-sold and misrepresented insurance policies and that is to say nothing of the indecent and gross level of bonuses paid out to those who are entrusted to look after our money and yet the same people oversee such disreputable practices. Is the banking system more regulated and safe? No. How many have been jailed for their sins? None. And who is it that protects them? The Government.

England is heading towards a referendum on remaining within the European Union (EU). Back in June 1975, Britain voted to join the European Economic Community (EEC) and at that time, there was a lot of people against it but in the end, the head ruled and the ‘yes’ vote went through. And it will likely be the same conclusion this time around although every political party across the spectrum with the exception of the Liberal Democrats wants to take the advantages of EU membership, whilst not fully integrating. Only The UK Independence Party (UKIP) has a clear cut policy on exiting but they are not sufficiently strong enough and have lost their momentum since the last election to secure a ‘no’ vote.

Europe does not want to see the British cash cow leave the Union. Does anyone remember the amount of money that Britain owed to the EU in 2014 and how miraculously the Conservative Government managed to halve that amount? Well, 2016 is fast approaching and it will be interesting to see whether Britain gets its agreed rebate or whether this will be brushed under the carpet in a full and final settlement? Even more interesting will be whether the EU membership referendum will take place in 2016 before this matter comes to notice.

So what are we left with in the end — a Conservative government with more strength than what Margaret Thatcher had and we are left at their mercy.

— The reader is a British managing partner based in Dubai