The pandemic has put Britain on course for its deepest economic slump since the Great Frost of 1709. By the first quarter of 2025, GDP will be 3.1% lower than anticipated in March, according to estimates by the Office for Budget Responsibility released on Wednesday. The fiscal watchdog deems the loss of output to be permanent. … [Read more...] about Worse than Covid? Risks to UK economy as Brexit deadline nears
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The aid budget would have fallen next year anyway because it goes up or down depending on the size of the economy, and national output is on course to shrink by 11%. Cutting the target from 0.7% to 0.5% will save the Treasury an additional £3bn to £4bn but that is chickenfeed when the budget deficit is running at almost 20% of GDP. A cut in the aid budget is not needed to maintain the confidence of the financial markets; nor is it the difference between the public finances being sustainable and unsustainable. It is wrong to say that the government has to raid the aid budget to spend more on doing all the things it wants to do at home. … [Read more...] about Cutting UK overseas aid in the name of Covid fiscal prudence is pure nonsense
Towards the end of the Summer, Mr Johnson then announced that further lockdowns would be based on a very sensible region-by-region analysis. A three-tier system was introduced, whereby the areas of England with low R rates (below 1), and low and falling infection rates, would be in tier 1, facing the lowest level of restrictions. Tier 2 regions would be those with medium level of cases, and medium restrictions. Tier three areas, with the highest level of cases, and R rates way above 1, would face total lockdown again. In my opinion, a very sensible targeted approach. … [Read more...] about December COVID-19 lockdown restrictions in the UK: Are they too tough?
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"Biden can only enter the White House as President if he can prove that his ridiculous '80,000,000 votes' were not fraudulently or illegally obtained," he tweeted on Friday. … [Read more...] about Biden to ‘make Cindy McCain ambassador to UK’ after late senator’s widow ‘delivered Arizona’ for president-elect