Public sector debt hit a new high of £2.08TRILLION at the end of October as the Government borrowed £215billion in just seven months to prop up the UK economy during the coronavirus crisis Office for National Statistics said UK public sector debt has now hit £2.08trillion The Government borrowed £215billion in the seven months to … Read more
Millions of public sector workers face a pay squeeze to help pay for the pandemic. Rishi Sunak will use next week’s spending review to unveil a new era of ‘pay restraint’ to plug the black hole in the public finances. The Chancellor believes it would be ‘unfair’ for more than five million public sector workers … Read more
Boris Johnson today vowed to once again make the UK the ‘foremost naval power in Europe’ as he said a £24 billion boost to the budget of the Ministry of Defence will ‘spur a renaissance of British ship building’. The Prime Minister said the UK must not ‘curl up in our island’ and leave the … Read more
Ben Wallace today admitted he does not know how the Government will fund a £24 billion budget boost for the Ministry of Defence amid fears UK foreign aid spending will be raided. Boris Johnson has announced the armed forces will receive an extra £16.5 billion over the next four years on top of a previous … Read more
Rishi Sunak’s ‘scary’ economic forecast: Chancellor will reveal devastating financial effect of pandemic next week… and predicts it will still be felt in 2024 Rishi Sunak will deliver ‘scary’ economic forecast his spending review next week His plans will rely on the predictions showing devastating effect of coronavirus Office for Budget Responsibility expected to forecast … Read more
‘The era of retreat is over!’ Boris Johnson will announce the biggest cash injection for our armed forces in three decades as he pledges to spend £16.5bn more on defence Prime Minister to promise to spend £16.5billion more on defence over four years Will be spent on ‘space command’ that could launch Britain’s first rocket … Read more
Boris Johnson today signalled his intention to slash Britain’s foreign aid budget to help the nation’s domestic finances – as he agreed to pump billions more into the Armed Forces. The Prime Minister declined to reject reports of plans to slash the UK’s commitment to spend 0.7 per cent of national income on overseas aid … Read more
Boris Johnson ‘plans to cut foreign aid by £5billion to help meet Britain’s £210bn Covid bill’ Britain could reduce the amount it sends to foreign countries in aid due to Covid Rishi Sunak is said to be pushing for the for £5bn to be cut from foreign aid bill Foreign aid has been criticised after … Read more
Rishi Sunak was today warned against adopting a pay as you drive scheme to fill a £40 billion tax hole caused by the switch to electric vehicles as motoring campaigners said it would be viewed as a ‘poll tax on wheels’ . The Chancellor is said to be ‘very interested’ in the idea of a … Read more
Young people have fuelled a decline in car ownership among nearly a third of England’s population, as they turn instead to electric scooters and bicycles, new figures reveal. The number of private cars owned by individuals fell in areas that account for 31.5% of the population of England – or 16 million people – according to … Read more