Blog
2025 in review: International arbitration
Francesca Parker
We live in uncertain and financially very troubling times. The coronavirus pandemic and the unprecedented measures put in place to tackle it have caused severe disruption to businesses. Big names such as Harveys, TM Lewin, Intu and the owners of Café Rouge and Bella Italia all went into administration at the beginning of the month. They will not be the last.
As another case involving allegations of sexual misconduct relating to a senior partner of a law firm has been concluded before the Solicitors Disciplinary Tribunal just this week, resulting in the imposition of a £10,000 fine being confirmed on 22 July 2020, it is perhaps safe to say that, for now, there is no sign that the Solicitors Regulation Authority (SRA) has lost its appetite to investigate and act on reports of this nature that it receives.
With the current economic climate characterised by Covid-19 related downturn, the prospect of redundancy is becoming an increasing reality as many businesses consider scaling down, particularly when the Government’s furlough scheme is phased out.
The recent Black Lives Matter protests have rightfully brought racial inequality to the fore, leading to a renewed focus on the lack of progress of UK organisations to improve racial diversity in the workplace. The evidence is clear. BAME individuals in the UK are both less likely to participate in and then less likely to progress through the workplace when compared with white individuals. The structural bias which exists in organisations, and which favours a select group of individuals to the detriment of BAME individuals, has been exposed. Business leaders have vocalised their commitment to tackle racial inequality, pledging to set diversity targets within their organisations to improve BAME representation. The Premier League, English Football League and Professional Footballers' Association have announced a new initiative which will give six BAME coaches a 23-month work placement scheme in an effort to increase the number of BAME coaches.
Furlough has undoubtedly been a huge success. According to the British Chamber of Commerce, since March the scheme has been used by two thirds of British businesses supporting approximately 9.4 million jobs. Yet at a cost approaching an eye-watering £30 billion to the taxpayer, it is understandable that the Government has confirmed it is now “using every tool and piece of intelligence to prevent, detect and disrupt fraud” in relation to the scheme.
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