Monthly Archives: November 2017

Chairman of the Bahrain British Business Forum presents commemorative book on Bahrain-UK Relations to the Bahrain Society

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London 28 November 2017: The Bahrain Society hosted its annual dinner at the Army and Navy Club on Monday 27 November 2017.  HE Shaikh Fawaz bin Mohammed Al Khalifa, Bahrain’s Ambassador to the United Kingdom and President of the Bahrain Society extended a warm welcome to the attendees and  guest speakers.

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The Guest speakers were Mr. Khalid Al Zayani, Director of Al Zayani Investments & Chairman of the Bahrain-British Business Forum (BBBF), and Mr. Jamie Bowden, CMG, former Ambassador to the Kingdom of Bahrain and former Deputy Private Secretary to HRH the Prince of Wales.

Mr. Al Zayani, spoke fondly of the historical relations between the Kingdom of Bahrain and the United Kingdom and the progress they had shown across many fields, particularly in trade and commerce, after more than 200 years of friendly collaboration. He also referred to the partnership between HRH the Prince of Wales, Investcorp, and the BBBF in establishing The Prince’s School of Traditional Arts, which was founded in 2004 by His Royal Highness, and how it is an example of a partnership based on understanding, friendship, and appreciation.

Mr. Bowden noted the long and special relationship between the two kingdoms and the two Royal families, including not only the strong personal friendship between HM Queen Elizabeth and HM King Hamad, but also the many friendships between Bahrainis and Britons.  He underlined the importance of a continuing mutual commitment to the development of relations between the two countries. He also reflected on the visit of His Royal Highness Prince Charles to Bahrain last year, from HRH’s meeting with young and motivated Bahrainis to his exploration of the Bahraini society and places of worship, highlighting the Kingdom’s diversity, plurality, tolerance and coexistence. Mr. Bowden also referred to  the opening of the Naval Support Facility in Bahrain, the first UK presence East of Suez in decades, which symbolises the strength of relationship.

Chairman of the Society, Brigadier Peter Sincock, outlined the role of the Bahrain Society in strengthening relations between the two countries, looking forward to continued success in its various activities to bring the two countries and societies even closer. The Chairman also extended his thanks and appreciation to the attendees, and expressed his particular appreciation to the speakers for their remarks.

In conclusion, Mr. Al Zayani presented Brigadier Sincock with a book entitled “200”, which documents the history of relationship between the two Kingdoms since the signing of the first Treaty in 1816.

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Valued at £67 Billion, the Monarchy is Britain’s Greatest Treasure

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  • Brand Finance estimates the capital value of the UK Monarchy as a business at £67.5bn
  • Monarchy’s annual contribution to the UK economy in 2017 is £1.766bn
  • Annual cost per head is less than £4.50 a year, equal to just over 1p a day

 

View the Brand Finance Monarchy 2017 report here

 

As the Queen and Duke of Edinburgh celebrate their Platinum Wedding Anniversary, leading brand and business valuation consultancy Brand Finance has estimated the total worth of the UK Monarchy. Growing every year since the inception of the study in 2012, the value of the British Monarchy now amounts to approximately £67.5 billion.

 

The Monarchy’s tangible assets – the Crown Estate, the Duchies of Lancaster and Cornwall, and the Royal Collection, including the Crown Jewels – account for £25.5 billion. The intangible value, understood as the present value of the benefits that the Monarchy is expected to bring the UK economy over the years, constitutes the remaining £42 billion.

 

Brand Finance estimates that in 2017 the Monarchy generated a gross uplift of £1.766 billion to the UK economy. The contribution includes the Crown Estate’s surplus as well as the Monarchy’s indirect effect on various industries. The respect for the institution boosts the price and volume premium of brands boasting a Royal Warrant or a Coat of Arms; the appeal of pomp and circumstance set in living royal residences draws millions of tourists; the mystique surrounding the Monarchy adds to the popularity of shows like The Crown and Victoria that offer a glimpse of the private lives of the Royal Family.

 

The economic benefits generated by the Monarchy come at a very low cost to the British nation, equal to only £4.50 per person per year or just over 1p a day. The overall costs of the Monarchy, totalling approximately £292 million, include the Sovereign Grant, earnings from the Duchies of Lancaster and Cornwall ceded to the Queen and the Prince of Wales, and security expenses, among others. A significant proportion of these costs is in fact incurred by residence maintenance, staff salaries, and travel expenditures required by any head of state.

 

David Haigh, CEO of Brand Finance, commented:

 

“Exactly 25 years ago, the Windsor Castle fire marked the nadir of the Queen’s annus horribilis when scandals drove the Monarchy’s popularity down. Today, its universal appeal translates to the attraction of Brand Monarchy offering considerable commercial benefits to all businesses and institutions associated with it.”

 

“The Monarchy is Britain’s national treasure, both symbolically and economically. Especially in the age of Brexit, Britain can rely on royal diplomacy to facilitate trade relations with the Commonwealth and the rest of the world.”

 

House GOP passes tax reform, another step towards a simpler, flatter and fairer tax code in 2018

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For the first time in decades, the House Republicans passed a comprehensive tax reform bill this week – the first step towards putting a bill on President Trump’s desk by the end of the year. The Senate needs to move forward with its bill that would repeal ObamaCare’s individual mandate and they need to ensure that tax cuts will go into effect in 2018. If both chambers work together, the GOP has the opportunity to reform the tax code for the first time since the 1980s and at the same time provide relief from ObamaCare by repealing the insidious individual mandate.

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