Latest news with #economicCrisis
Yahoo
2 days ago
- Politics
- Yahoo
Top Tory Left Red-Faced After Unearthed Clips Shows Him Backing Liz Truss's Mini-Budget
A senior Tory has been left embarrassed after an unearthed clip showed him defending Liz Truss' mini-Budget. Chris Philp was chief secretary to the Treasury when the former prime minister's unfunded tax cuts caused economic chaos. The shadow home secretary has since repeatedly insisted that he made clear his concerns about the plans behind the scenes. But an interview from the time has now emerged showing Philp denying there had been any 'mistakes' in the mini-Budget, even after its disastrous repercussions was becoming clear. Appearing on Sky News on Sunday, Philp said the mini-Budget 'obviously had a bad impact'. He said: 'I opposed the way it was constructed, I was arguing for spending restraint. Those warnings were sadly not listened to.' But back in September 2022, in the aftermath of the economic crisis sparked by the mini-Budget, Philp was asked by BBC Breakfast's Charlie Stayt whether 'there were any mistakes' in it. He replied: 'No, I don't think so. Let me be clear; no, I don't think so.' Chris Philp now says "he was arguing for spending restraint in the mini-budget." 🤔Charlie Stayt(29/09/22): Were there any mistakes in Kwasi Kwarteng's mini budget? Chris Philp(Chief Secretary to the Treasury): No.#TrevorPhillips# — Haggis_UK 🇬🇧 🇪🇺 (@Haggis_UK) June 8, 2025 Chris Philp Tried To Attack Labour's Response To Immigration – But There Are Receipts Chris Philp Has Criticised Liz Truss's Mini-Budget And People Are Making The Same Point Labour Minister Destroys Chris Philp With 1 Devastating Reminder About The Tories' Approach To China
Malay Mail
5 days ago
- Business
- Malay Mail
We're not birthing machines: Turkish women reject Erdogan's push for more children as costs rise, rights erode
ISTANBUL, June 6 — Alarmed by the fact that Turkish women are having fewer children, President Recep Tayyip Erdogan has moved to tackle falling birthrates — 'a threat greater than war' — through policies designed to bring on the babies. After declaring 2025 Turkey's 'Year of the Family', Erdogan last month announced 2026 would mark the start of the 'Decade of the Family'. But his pleas for women to have at least three children and offers of financial incentives for newlyweds may not be enough as Turkey grapples with a deepening economic crisis. Official figures show Turkey's birthrate has fallen from 2.38 children per woman in 2001 to 1.48 in 2025 — lower than in France, Britain or the United States — in what Erdogan, a 71-year-old pious Muslim and father-of-four, has denounced as 'a disaster'. During his 22 years in office — first as premier, then president — fertility rates have dropped sharply in this country of 85 million people. Erdogan has blamed both women and LGBTQ 'perverts'. 'Women and LGBTQ+ individuals are considered the only culprits for the declining population growth rate, with no acknowledgement of political mistakes,' said retired academic and feminist activist Berrin Sonmez. 'People might be hesitant to have children in this chaotic and uncertain environment. Additionally, child support is almost non-existent and education has become the most expensive sector,' she said. No education, no jobs High inflation has raged in Turkey for the past four years, forcing education costs up by more than 70 percent over the past year, official data shows. In the first quarter, unemployment stood at 8.2 percent, or 15 percent among 15- to 24-year-olds. Researchers with the DISK union say the real rate is 28.5 percent, and 37.5 percent among young people. But the government seems bent on fixing other issues, such as Turkey's record number of elective Caesarean births — which stands at 61 percent, rising to 78 percent in some private hospitals. In April, Turkey banned C-section births at private healthcare facilities 'without a medical justification'. The procedure generally limits the number of pregnancies to two, or a maximum of three. Dr Harika Bodur, an obstetrician working in an hospital of Istanbul, poses during an AFP interview in Istanbul on May 9, 2025. — AFP pic C-sections: the 'safer option' Medical professionals say the high number of C-sections is linked to the rampant privatisation of the healthcare system since the late 1990s. C-sections are more time-efficient for medical staff — 30 minutes, versus 12 hours for a traditional delivery — and lower the risk of legal action over complications, said Hakan Coker, an Istanbul-based gynaecologist. 'Ultimately, C-sections are perceived as a guarantee of safety' for doctors and women alike, he said. Dr Harika Bodur, an obstetrician at a major Istanbul hospital, said some women ask for a C-section 'at the first appointment for fear of pain'. 'If you refuse, they'll go elsewhere,' she said. The fear is rooted in a lack of education and discomfort with sexuality, she said. The health ministry says it is now 'aiming for a target rate of 20 percent (of C-sections) by encouraging normal childbirth through education of future parents'. But the word 'normal' has raised hackles — notably last month when a football team carried a huge banner promoting vaginal births onto the pitch before a top-flight clash, which read: 'Natural birth is normal.' Secil Murtazaoglu, 23-year-old, chemistry student poses during an AFP interview in Istanbul on May 29, 2025. — AFP pic Women as 'birthing machines' 'If I don't want to, I won't have any children at all, it's my right,' said 23-year-old chemistry student Secil Murtazaoglu. 'Access to abortion is already difficult. Now they want to limit C-sections. It's all about the oppression of women,' she said. In 2012, the Turkish president described abortion as 'murder', but stopped short of banning it. By offering interest-free loans of 150,000 Turkish lira (RM16,121) for newlyweds and a monthly allowance of 5,000 lira from the third child onwards, Erdogan was trying 'to turn women into birthing machines', Murtazaoglu said. Feminist activist Sonmez said women were subjected to huge pressures, both within their families and within society, when the much more pressing issue was the need to tackle gender violence. 'We must start by combating violence against women: such policies have been eradicated and protections seriously undermined,' she said. — AFP
LBCI
6 days ago
- Business
- LBCI
Head of Fuel Tanker Owners Syndicate criticizes customs hike on fuel
The head of the Syndicate of Fuel Tanker Owners and Fuel Transport Contractors, Ibrahim Sariini, criticized recent decisions to raise customs duties on fuel, saying they have dealt a blow to both citizens and those working in the fuel transport sector. In a statement, Sariini said the government's financial measures are coming at the expense of ordinary people. "Instead of finding fair solutions to the economic crisis, the state has opted for the easiest route—placing the burden of collapse on the public," he said. He warned that the customs hike on fuel will lead to an increase in the overall cost of living, especially in the transportation sector, as it will cause higher transportation fees and also affect other areas such as electricity, heating, and the prices of all types of goods. Sariini called for the decision to be reversed and announced the syndicate's solidarity with the General Labor Union and land transport unions and federations.
Reuters
23-05-2025
- Business
- Reuters
Ghana central bank keeps rate unchanged as inflation eases
ACCRA, May 23 (Reuters) - Ghana's central bank on Friday kept its main interest rate (GHCBIR=ECI), opens new tab unchanged at 28.00%, saying consumer inflation was expected to ease further this year. Governor Johnson Asiama said at the opening of the monetary policy committee meeting on Wednesday that while the inflation outlook was improving, it remained vulnerable to food supply constraints and external price shocks. Consumer price inflation slowed for a fourth month in a row in April, to 21.2% year on year from 22.4% in March. It remains well above the Bank of Ghana's targets of 8% with a margin of error of 2 percentage points. The gold, oil, and cocoa-producing West African nation is recovering from its most severe economic crisis in decades, facing challenges in its critical cocoa and gold industries.
Bloomberg
22-05-2025
- Business
- Bloomberg
What's Next for Australian Interest Rates?
Good morning, it's Amy in Melbourne with your wrap of the biggest stories this Friday morning. Today's must-reads (listens): • The Bloomberg Australia podcast on rates • Rio Tinto begins search for new CEO • Goldman Sachs APAC changes The Reserve Bank of Australia this week cut rates again, while pulling off a post-Covid economic crisis soft landing that few central banks have been able to execute. This week on the Bloomberg Australia podcast, Rebecca Jones speaks to Bloomberg Economics' James McIntyre about the outlook for interest rates, how that could be affected by Trump's tariff war, and what it all means for the housing market.
