Economics

The Institute for Fiscal Studies and Health Foundation said the NHS would need an extra 4% a year - or £2,000 per UK household - for the next 15 years. The report said the NHS has been struggling to cope after the toughest financial constraints in its 70-year history had been imposed on the service. Niall Dickson, chief executive of the NHS Confederation, which commissioned the report and represents 85% of NHS bodies, said: “This report is a wake-up call. And its...

Mark Carney, governor of the bank of England has indicated that Brexit has already hit the UK economy and it hasn’t even happened yet. Carney said that Brexit has taken two per cent off the size of the economy in the UK and has left each household £900 worse off. He described this amount as “a lot of money.” The Bank of England boss has compared forecasts from before the referendum, assuming that remain had won the national vote. Carney...

A group of MPs have signalled that dodgy Russian money flowing into the British banking sector is harming UK national security. Even after Salisbury attack, it appears to be business as usual, and the flow of illicit money has continued regardless of the tough talk from the highest levels of government. The MPs have called upon the British government to take stronger action to halt money laundering by ‘kleptocrats and human rights abusers.” The foreign affairs select committee said the...

What have the Conservatives got against the UK shipbuilding industry, asks GMB? GMB, the union for shipbuilding workers, says the Conservative Government must not be allowed to downgrade the Royal Navy any more by ‘sneaking’ out of their obligation to build three Royal Navy Auxiliary vessels. The Ministry of Defence today announced it may only commission two new Fleet Solid Support ships – rather than the three that were expected. The new ships are required to replenish the UK’s £6.3 billion...

With the surprise announcement by President Trump to impose tariffs on steel and aluminum, many countries have been scrambling to deal with the potential ramifications. Trump has since exempted the European Union, as well as Argentina, Australia, Brazil, Canada, Mexico and South Korea. But what does this mean for EU trade with China? And how does it affect the United Kingdom? When Trump announced his plans to impose tariffs of 25 percent on imported steel and 10 percent on aluminum,...

The Labour leader Jeremy Corbyn has called for all Navy vessels to be built in the UK. There has been speculation that a £1bn contract for three new Royal Fleet Auxiliary support ships could go to a foreign shipyard. The Ministry of Defence contract is expected to go out to international tender later this month. Visiting Glasgow, the Labour leader said building the ships somewhere in the UK could secure more than 6,500 jobs - 1,800 of these in shipyards....

Over the last decade, the Maltese economy has gone from strength-to-strength. Although the country has less than half a million residents, the Maltese economy has gone from pillar-to-post and it is staggering how well the country has developed across several key industries. Today, the Maltese economy is heavily reliant on foreign trade and investment, manufacturing (particularly pharmaceuticals and electronics), and tourism. Given that Malta sits just below Italy, it is a prime location in the Mediterranean and it attracts millions...

A pioneering new citizens’ wealth fund in the UK could provide a universal annual cash dividend and eventually a weekly basic income, a new report has claimed. According to research by City, University of London and the Friends Provident Foundation the UK government should create a citizens’- owned investment fund to pay for an annual cash payment to everyone in the country. The report says the fund would be a powerful new anti-inequality instrument, allowing a dividend of £430 per person after...

Oxford University study each robot performs the roles of 3.6 workers.