The Bank of England Monetary Policy Committee on Thursday voted 7-2 in favor of hiking interest rates by 50 basis points with the main rate now at 4%. However the MCP indicated in its statement that smaller hikes and an eventual end to the hiking cycle may be in the cards in coming meetings. The two dissenting members voted to leave rates unchanged at this meeting.Add your comment!
Like Brexit a few years ago, popular vocabulary in UK has incorporated Bregret, basically meaning regretting the decision to vote for Britain leaving the European Union. And one of the latest opinion polls indicates a dramatic shift in the UK as to such a momentous vote. The poll, by Focaldata and taking in 10,000 people across the country, asked respondents whether they agreed or disagreed with the statement, “Britain was wrong to leave the EU”.1 comment
A specialist ship bought to support Royal Navy mine-hunting operations – a mother ship to launch drones to find and destroy undersea threats – has arrived in Plymouth. When deployed, the platform will support the safeguarding of UK waters from the threat of mines at sea, operating a range of uncrewed systems that will help keep personnel at a safe distance.Add your comment!
The UK's Office for National Statistics (ONS) revealed that the country had a net migration gain of 504,000 people between June 2021 and June 2022. That number was nearly triple the 173,000 registered the year prior.Add your comment!
The UK economy this year is forecasted to perform worse than similar advanced economies, and is estimated to contract by 0,6%, according to the latest report from the IMF. The new forecast reflects UK's high energy prices and strong inflation.Add your comment!
Scottish shipyards need “greater clarity” from the UK Government over where contracts for new naval vessels will be placed in the coming decades, MPs have said.Add your comment!
The United Kingdom car production fell to its lowest level since 1956 in 2022 as output was hit by global shortages of semiconductor chips, figures show. A total of 775,014 cars were built in 2022, down 9.8% from the 859,575 made during the previous year, the Society of Motor Manufacturers and Traders (SMMT) said.Add your comment!
British Prime Minister Rishi Sunak is expected to celebrate Scottish culture this evening by hosting a reception in Downing Street to celebrate Burns Night. Guests, including faith group leaders, will be welcomed to the event with sounds of traditional bagpipes and drums, and will be able to enjoy Scottish cuisine from stalls in an indoor-street market.Add your comment!
Construction is underway on the second Type 31 frigate being built for the Royal Navy. The first steel has been cut on HMS Active at the Babcock shipyard in Fife, by Defense Minister Alex Chalk.
The head of the Malvinas Secretariat from the Tierra del Fuego province, southern Argentina, blames the media, the opposition, the UK, and all those pleased with the current status of the South Atlantic for the spread of “fake news” allegedly reporting that China will be setting a military base and naval outpost in Tierra del Fuego.