UK Government debt hits £2tn amid coronavirus pandemic

The UK government debt at the end of July 2020 was £2, 004 trillion, £ 227.6bn more than at the same point last year according to the Office for National Statistics (ONS), which means the entire value of the country’s economy for the first time in 60 years. The Government owes the equivalent of 100.5…

The UK is officially into recession

The UK economy suffered its worst and biggest slump on record between April and June due to coronavirus lockdown measures, shrinking as much as 20.4 per cent compared with the first three months of the year. The UK is officially into recession. Household spending plunged as shops were ordered to close, while factory and construction…

NMC Health  collapses

Former FTSE 100 company has damaged reputations of London and the UAE. The Abu Dhabi based hospital operator BR Shetty (77) set up healthcare provider NMC in 1975, after emigrating to the United Arab Emirates from his native India, He created an emerging market company with a seductive pitch to investors and a charismatic founder…

Government debt stands at £1.98 trillion

  The UK government borrowed £127.9bn between April and June for tackling the coronavirus pandemic, taking the total government debt to £1.98 trillion. The difference between spending and tax income was more than double the £55.4bn borrowed in the whole of the previous year.  The borrowing in June was lower in May at £35.5bn, as…

Promoting the elite at the expense of the workers

Trade conflicts caused by governments promoting the interest of the elite at the expense of workers. Across the world, the rich have prospered while workers can no longer afford to buy what they produce have lost their jobs, or have been forced into higher levels of debt. The class wars of rising inequality are a…

Our Fragmented food culture

  Our food culture is fragmented, a mix of mass “ultra Processed” foods ( high in salt, sugar and fat)  the effect of Europeanisation  as pizza is children’s favourite food and wee also eat the world’s cuisines, as UK got wealthier, allowing aspirations and tastes to flower. Industrial and post-industrial societies have moved away from…

Self-employed rescue scheme

The Chancellor Rishi Sunak will today announce a package of support for Britain’s 5m self-employed people to help them through the coronavirus pandemic after Boris Johnson decreed they should have “parity of support” with employed counterparts. The self-employed would submit forms to HM Revenue & Customs, the tax authority, declaring their recent income, if there…