Best of this week in our opinion pages: from the fintech world to a tax regime to sanction Putin to what social media are doing in the disinformation wars
As Levelling Up Secretary Michael Gove disclosed the Homes for Ukraine scheme to host people fleeing war in Ukraine, Ajaz Ahmed wrote about the countless refugees who have reached British shores and set up incredibly successful businesses, effectively contributing to the growth of this country. Ahmed also called for businesses to step up and do their part, together with the government and charities, in supporting Ukrainian refugees with all means available.
It is easy to preach a virtuous ESG and purpose-led rhetoric, but it’s in times like this, that true character is revealed.
Ajaz Ahmed
As reports emerged that the Kremlin had asked China for additional weapons to fight in Ukraine, James Rogers wrote about the geopolitics of it all. If Britain wants to remain a leading player in Europe, it needs to increase its defence spending. It needs to be ready to face China if it wants to secure its interests in the Indo-Pacific.
Britain is not off the hook. The renewed Russian assault against Ukraine shows geopolitical competition is intensifying at a dizzying pace.
James Rogers
Looking at the thriving fintech sector, Kevin Chong lauded London’s first place among Europe’s tech ecosystems. London has the talent, the appetite for investment and is showing the willingness to risk that is absolutely crucial for the first rounds of funding for start-ups. Early investors are reaping benefits with bigger firms funding later rounds, so we can expect much success in the months to come.
Stories like PrimaryBid further cement our city’s status as a hotbed for technology with a uniquely global outlook.
Kevin Chong
On Friday, after a week of increased sanctions on Russia, Lucy Frazer argued that the tax regime is another key financial instrument through which the government can target Kremlin’s money. Freezing tax co-operation with Russia and Belarus and easing custom declarations on aid and donations going to Ukraine are first important steps in that direction.
This week’s suspension of tax information exchange, predominantly used to ensure compliance, will ensure the UK is not supplying Russia and Belarus with information that could lead to an increased tax benefit or yield for them.
Lucy Frazer
Josh Williams wrote about another development in the Western response to Russia’s aggression: the fight on social media. With Instagram and Facebook not working in Russia, social media giants have much of a role to play in times of crisis like this, acting to fight disinformation and protect their users.
For the rest of us, the posts we see from Ukraine should offer a reminder. There are moments when it feels like there is nothing worse than social media. In truth, there is one thing that is: no social media at all.
Josh Williams
