UK government borrowing surged in November as the public finances came under mounting pressure from rising debt-interest payments and the huge cost of subsidizing energy bills for consumers and businesses. The budget deficit stood at £22 billion ($26.8 billion) – the highest monthly total in records stretching back to 1993 and almost triple the £8.1 … Read more
London CNN Business — The UK government is hiking a windfall tax on oil and gas companies and extending the levy to electricity generators, as it scrambles to balance its budget amid an economic downturn. It is also investing in nuclear power for the first time in decades. UK finance minister Jeremy Hunt announced the … Read more
London CNN Business — Rishi Sunak, Britain’s third prime minister in seven weeks, took office on Tuesday with a pledge to fix the “mistakes” of predecessor Liz Truss and tackle a “profound economic crisis.” The task won’t be an easy one, he acknowledged. “This will mean difficult decisions to come,” Sunak said in his first … Read more
4.38pm BST16:38 And, according to the Mirror’s Ben Glaze, HMS Prince of Wales is by no means the only naval vessel off Carbis Bay. Ben Glaze (@benglaze) According to @MarineTraffic there are currently two River-class OPVs (Tyne and Tamar), three Archer-class patrol boats (Smiter, Ranger and Exploit), one Type 23, Duke-class frigate (Northumberland) and the … Read more