logo
Britain Is in the Midst of One Long, Hot, Nervous Summer

Britain Is in the Midst of One Long, Hot, Nervous Summer

Bloomberg2 days ago
There is an ominous sense in the air in Britain — a sense that the country is headed toward the rocks and that the captain has no idea how to steer the ship. This feeling is vague — hardly the stuff of graphs or numbers — but vague feelings can sometimes tell us more about the future than the hardest economic statistics.
The two biggest rocks on the horizon are labeled debt crisis and civil unrest. Blood-curdling warnings from the right are par for the course. Andrew Neil warns in the Daily Mail that 'broke Britain is on the edge of financial disaster … I'm scared for what's to come.' But equally dire warnings are coming from the left — and even from the very heart of government. Gary Smith, the general secretary of the GMB union, notes that 'our finances are precarious … this could unravel very quickly.' Deputy Prime Minister Angela Rayner has told her boss that Britain could face a repeat of last year's summer riots unless 'the government shows it can address people's concerns.' Seven in 10 Britons think that it's likely the country will experience race riots in the future, according to a poll for The Economist.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Justin Trudeau Attends Katy Perry's Lifetimes Tour Amid Dating Rumors
Justin Trudeau Attends Katy Perry's Lifetimes Tour Amid Dating Rumors

Elle

time4 hours ago

  • Elle

Justin Trudeau Attends Katy Perry's Lifetimes Tour Amid Dating Rumors

THE RUNDOWN On July 30, Justin Trudeau attended Katy Perry's Lifetimes Tour stop in Montreal. The former Canadian prime minister was spotted by fans in the crowd. His daughter Ella-Grace, was also at the concert, per Daily Mail. Trudeau also sang along to Perry's hit song 'Firework.' The concert sighting comes days after the rumored couple was photographed on a long date in Montreal on July 28. They took a walk in Mount Royal Park, ate dinner at Le Violon, and finished the day with drinks on the Taverne Atlantic terrace. But according to Le Violon's co-owner and co-executive chef, Danny Smiles, who served Perry and Trudeau, there were no signs of a budding romance. He shared with TMZ that he 'didn't get any dating vibes from Katy and two friends enjoying a meal.' Perry and Trudeau are both single. She and Orlando Bloom split in July 2025. On July 3, the former couple released a statement to People that read: 'Due to the abundance of recent interest and conversation surrounding Orlando Bloom and Katy Perry's relationship, representatives have confirmed that Orlando and Katy have been shifting their relationship over the past many months to focus on co-parenting. They will continue to be seen together as a family, as their shared priority is—and always will be—raising their daughter [Daisy] with love, stability, and mutual respect.' Trudeau and his ex-wife, Sophie Grégorie, called it quits in 2023 after 18 years of marriage. Trudeau announced the breakup on Instagram at the time and wrote: 'Hi everyone, Sophie and I would like to share the fact that after many meaningful and difficult conversation, we have made the decision to separate. As always, we remain a close family with deep love and respect for each other and for everything we have built and will continue to build. For the well-being of our children, we ask that you respect our and their privacy. Thank you.' Perry will continue her Canada tour stops on August 1 when she hits Quebec City.

200 Mitie workers set to begin strike action at Sellafield over pay
200 Mitie workers set to begin strike action at Sellafield over pay

Yahoo

time11 hours ago

  • Yahoo

200 Mitie workers set to begin strike action at Sellafield over pay

AROUND 200 workers in 'frontline' roles on the Sellafield site are set to begin strike action on Friday following a disagreement with their employer Mitie over pay. GMB union members working for Mitie overwhelmingly rejected the 3.5 per cent deal offered by the company- voting to strike in anger at what the union have called a 'derisory' pay offer. The around 200 frontline workers are responsible for cleaning, security, landscaping, waste management, postal services, and laundry support the safety and functionality of one of Europe's most hazardous nuclear facilities, say the union. The union have said that the pay offer would leave many workers earning little more than £13 an hour. Fran Robson, GMB Regional Organiser, added: "Without these workers, Sellafield cannot operate safely or securely. "If Mitie refuses to return to the negotiation table with a meaningful offer, strike action will go ahead, risking significant disruption to this critical nuclear site. "We call on Mitie to provide a pay rise that genuinely recognises the essential contribution of these workers." Mitie have said that they are 'committed' to reaching a resolution and are carrying out 'continuous talks' with both Sellafield and the GMB union. However, the company say they are also putting 'strong contingencies' in place to avoid any disruptions that the strike may cause at the Sellafield site A Mitie spokesperson said: 'We are in continuous talks with both Sellafield and GMB and are committed to reaching a resolution. 'As always, our priority is to ensure continued service delivery and in the unfortunate case of a strike going ahead, we will put strong contingencies in place to avoid disruption to the site. "We are proud of the hard work and dedication of all our colleagues up and down the UK, including those at Sellafield.' READ MORE: Cumbrian mum received incurable brain tumour diagnosis on her birthday | News and Star Sellafield are not directly involved in the dispute and have warned site employees of potential delays and congestion on the roads approaching the Sellafield site gates during the strike period. A spokesman said: "As always, the safety and security of the site, our workforce, and the local community is our priority."

IMF: UK needs more rate cuts
IMF: UK needs more rate cuts

Yahoo

time21 hours ago

  • Yahoo

IMF: UK needs more rate cuts

The Bank of England should cut interest rates two more times this year to boost Britain's economy, the International Monetary Fund (IMF) has said. The Fund urged Threadneedle Street to keep lowering borrowing costs from the current level of 4.25pc against the backdrop of an economy that is still reeling from Rachel Reeves's record tax also warned that mounting debts and uncertainty about Donald Trump's trade policies risked triggering renewed turmoil in financial markets, even as it upgraded its global growth forecasts. While tariffs are lower than those Mr Trump threatened on 'liberation day' on April 2, the IMF said huge uncertainty remained about the future of global trade policy. 'Risks are tilted to the downside,' it said in an update of its world economic outlook. 'Larger fiscal deficits or increased risk aversion could raise long-term interest rates and tighten global financial conditions. 'Combined with fragmentation concerns, this could reignite volatility in financial markets.'Fears about higher tariffs drove a growth spurt at the start of the year, as companies rushed to send goods to the world's biggest economy to avoid higher levies. As a result, UK growth is expected to be slightly higher than previously forecast in 2025, at 1.2pc, while its UK growth forecast for 2026 remains unchanged at 1.4pc. Ms Reeves, the Chancellor, said the IMF forecasts 'show that the UK remains the fastest growing European economy in the G7 despite the global economic challenges we are facing'. The global economy is expected to grow 3pc this year and 3.1pc in 2026, helped by easing trade tensions. The IMF said it expected the pace of rate cuts globally to be slower than it did just three months ago, with the Bank of England expected to cut 'around twice more this year after pausing to assess incoming data'. The Bank has already cut rates twice this year to 4.25pc. Investors are only fully pricing in one more reduction to 4pc in August. However, concerns about the health of the economy could prompt more action. Andrew Bailey warned this month that the tax changes announced by Ms Reeves in her October Budget were damaging hiring and hitting pay packets. Mr Bailey warned that companies were 'adjusting employment and hours, and also having pay rises that are possibly less than they would have been if the NICs change hadn't happened'. It comes just days after the IMF warned that richer Britons may be forced to subsidise the NHS as the Chancellor struggles to balance the books. The Washington-based institution said Ms Reeves would be forced to raise taxes on working people, scrap the pension triple lock or start charging for the NHS. Mel Stride, the shadow chancellor, said growth was 'going nowhere' under Labour, with Ms Reeves expected to raise taxes again by as much as £20bn in the autumn. Mr Stride added: 'Business confidence has collapsed all because of the Chancellor's reckless economic choices. 'You can't tax your way to growth – we need to back British businesses and workers.' Elsewhere, the IMF suggested that the US Federal Reserve had more limited scope to reduce borrowing costs, in a move that puts chairman Jerome Powell on a collision course with Mr Trump. The US president has suggested that Mr Powell should be fired for refusing to cut rates. The IMF said it expects price rises to pick up towards the end of the year. It added: 'Monetary policy rates in the United Kingdom and the United States are expected to decline in the second half of 2025, though at varying speeds. 'Inflation will remain above [the 2pc] target in the US and be more subdued in other large economies.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store