Queen Elizabeth II’s state funeral on Monday brought onlookers from around the globe as her coffin was carried through the streets of London with the royal family in tow behind her remains. This was the first time since 1965, that London played host to a state funeral procession as the nation bid farewell to their Queen, who ruled the United Kingdom for 70 years. Check out the pictures of the event.
Kate Middleton, the new Princess of Wales, was seen jewels that belonged to her grandmother-in-law, repeating the pearl-and-diamond pieces she wore to Prince Philip’s funeral in April 2021. Kate had earlier worn them to honour the queen’s 70th wedding anniversary to the Duke of Edinburgh.
The new King Charles III led a procession walking behind his late mother’s coffin, as it was brought from Westminster Hall to the nearby Abbey for her funeral service. He was accompanied by his sons Prince William and Prince Harry along with siblings Princess Anne and Prince Andrew.
The late Queen’s coffin arrived at Westminster Abbey, where the funeral service started.
Members of the royal family and hundreds of world leaders, politicians and other public dignitaries joined in the funeral service.
Queen Elizabeth’s coffin arrived at Windsor Castle, where well-wishers lined the route, as it passed them.
For the last five days, the Queen has been lying in state, where thousands of mourners have queued to pay their respects. The Queen’s funeral has been the first state funeral in the UK since Winston Churchill’s in 1965.
The Queen’s funeral is the first state funeral in the UK since Winston Churchill’s in 1965…reports Asian Lite News
President Droupadi Murmu on Monday met with Bangladesh Prime Minister Sheikh Hasina and her sister, Sheikh Rehana just before the State Funeral of Queen Elizabeth II in London. “President Droupadi Murmu met with Prime Minister of Bangladesh, Sheikh Hasina and her sister, Sheikh Rehana just before commencement of the State Funeral at London,” Rashtrapati Bhawan tweeted.
The President arrived at Gatwick Airport in London on Saturday to attend Queen Elizabeth II’s state funeral at London’s Westminster Abbey. Upon her arrival, she offered tributes to Queen Elizabeth II at Westminster Hall in London, where the queen’s coffin was lying-in-State.
President Droupadi Murmu met with Prime Minister of Bangladesh Sheikh Hasina and her sister, Sheikh Rehana just before commencement of the State Funeral at London. pic.twitter.com/PZWiAcqtsF
“President Droupadi Murmu visited Westminster Hall, London where the body of Her Majesty the Queen Elizabeth II is lying in state. The President offered tributes to the departed soul on her own behalf and on behalf of the people of India,” Rashtrapati Bhawan tweeted earlier. President Murmu also signed the condolence book for Queen Elizabeth II, at the Lancaster House near Buckingham Palace in London. “President Droupadi Murmu signed the Condolence Book in the memory of Her Majesty Queen Elizabeth II at Lancaster House, London,” Rashtrapati Bhawan tweeted.
Later in the day, President Murmu met King Charles III at a reception held at Buckingham Palace on Sunday. The President is on an official tour to the United Kingdom from September 17 to 19 to attend the State Funeral of Queen Elizabeth II, and offer condolences on behalf of the Government of India. Meanwhile, the coffin of Queen Elizabeth II, the longest-serving monarch of the United Kingdom, was carried to Westminster Abbey in London for her state funeral on Monday.
President Droupadi Murmu at the reception hosted by King Charles III of United Kingdom at Buckingham Palace. pic.twitter.com/Og2bkVF1EV
Queen Elizabeth II died on September 8 at Balmoral Castle in Scotland. Numerous guests ranging from political heads of countries to distinct royal family members and dignitaries from across the world landed in the UK for the funeral of Queen Elizabeth II. The Queen’s funeral is the first state funeral in the UK since Winston Churchill’s in 1965. A state funeral means that the UK government has officially declared the day of the funeral as a bank holiday.
Moreover, senior citizens and children are among those camping along the funeral routes, for over 48 hours in some cases, to bid a final goodbye to Queen Elizabeth II today. Notably, the funeral service will be conducted by the Dean of Westminster, and readings will be given by Patricia Scotland, the secretary general of the Commonwealth, and Prime Minister Liz Truss.
President Droupadi Murmu arrives in London to attend the State Funeral of Her Majesty Queen Elizabeth II. pic.twitter.com/T6zWlJGkYB
The sermon will be delivered by Canterbury’s archbishop, the Most Reverend Justin Welby. The Queen was born on April 21, 1926, at 17 Bruton Street in Mayfair, London. She was the first child of The Duke and Duchess of York – who later became King George VI – and Queen Elizabeth. (ANI)
Prince William termed the passing away of the Queen as an unreal day for him, reports Asian Lite News
William, the Prince of Wales, on Saturday wrote a heartfelt message over the demise of his “Grannie”, the late Queen Elizabeth II.
Recalling the cherished memories with his grannie, Prince William expressed gratitude towards the Queen’s wisdom and reassurance. Prince also reminisced his grannie’s fond memories while thanking her for 20 years of guidance and support to the Princess of Wales Kate Middleton.
“While I will grieve her loss, I also feel incredibly grateful. I have had the benefit of The Queen’s wisdom and reassurance into my fifth decade. My wife has had 20 years of her guidance and support. My three children have got to spend holidays with her and create memories that will last their whole lives. She was by my side at my happiest moments. And she was by my side during the saddest days of my life.”
“On Thursday, the world lost an extraordinary leader, whose commitment to the country, the Realms and the Commonwealth was absolute. So much will be said in the days ahead about the meaning of her historic reign. I, however, have lost a grandmother,” he added.
He termed the passing away of the Queen as an unreal day for him. “I knew this day would come, but it will be sometime before the reality of life without Grannie will truly feel real,” the Prince of Wales tweeted.
“My grandmother famously said that grief was the price we pay for love. All of the sadness we will feel in the coming weeks will be testament to the love we felt for our extraordinary Queen. I will honour her memory by supporting my father, The King, in every way I can.”
A portrait of the Queen Elizabeth II with the next three heirs — Prince Charles, Prince William, Prince George — to the throne was released to mark the start of the new decade.
Prince William also admired the Queen for her life-long devotion and service to the nation. “I thank her for the kindness she showed my family and me. And I thank her on behalf of my generation for providing an example of service and dignity in public life that was from a different age, but always relevant to us all.”
After King Charles III took the throne as the new monarch of England on Saturday after his mother Queen Elizabeth II passed away, a second Proclamation following the principal proclamation was read in the City of London, at the Royal Exchange.
The second proclamation has been made at the Royal Exchange in London as thousands gathered to witness history in the making. State trumpeters sounded a fanfare, as crowds fell into silence to hear the announcement.
As is convention further Proclamations will be read in Scotland, Northern Ireland and Wales at 1200 hours the following day on Sunday, September 11. In recognition of the new Sovereign, flags are flown at full mast from the time of the Principal Proclamation at St James’s Palace until one hour after the Proclamations in Scotland, Northern Ireland and Wales, after which flags will return to half-mast in mourning for the death of Her Majesty The Queen.
King Charles III was proclaimed as the new monarch of England after his mother Queen Elizabeth II passed away on Thursday. King Charles Philip Arthur George paid tribute to his mother, Queen Elizabeth II, and spoke of the “great inheritance and of the duties and heavy responsibilities of Sovereignty.”
“I am deeply aware of this great inheritance and of the duties and heavy responsibilities of Sovereignty which have now passed to me. In taking up these responsibilities, I shall strive to follow the inspiring example I have been set in upholding constitutional government and to seek the peace, harmony and prosperity of the peoples of these Islands and of the Commonwealth Realms and Territories throughout the world,” King said soon after being proclaimed Britain’s new monarch at the Accession Council at St James’s Palace in London.
Dressed in a formal black tuxedo, Charles, 73, has been proclaimed the new King of England. With the new development, his wife Camilla Parker Bowles will now be England’s Queen consort.
On Friday, Charles, the longest heir to the throne, and Camilla arrived at Buckingham Palace in London and met mourners, following the death of Queen Elizabeth II. Buckingham Palace was swarmed with waves of mourners held back by barriers as Charles met the crowds.
The royal dignitary received a warm reception as he passed the crowds gathered outside Buckingham Palace. Charles was offered bouquets of flowers and even a kiss on the cheek as he shook hands with those who had gathered to see him arrive.
He was by his mother’s side at her beloved Scottish Highlands home as her health deteriorated, and returned to the capital to hold his first audience with Prime Minister Liz Truss.
Born on November 14, 1948, he was the first child of Elizabeth and Philip, then the princess and prince. At the age of 19, he formally became the Prince of Wales on July 1, 1969.
He married Lady Diana Spencer on July 29, 1981, and became the first royal heir since 1660 to marry an English woman. In August 1996, Diana and Charles went their separate ways and got legally divorced.
After Diana’s demise in a car accident, Charles married Camilla Parker Bowles in April 2005. Soon, the couple got the royal title of Duke and Duchess of Cornwall. (ANI)
The Accession Council, a body made up of senior politicians, judges and officials, proclaimed him as the monarch in the State Apartments, reports Asian Lite News
For the first time in a televised ceremony, King Charles III was on Saturday officially proclaimed the new British monarch following the demise of his 96-year-old mother, Queen Elizabeth II who reigned for 70 years on the throne.
Charles, the Queen’s first born, became king immediately after her death on Thursday, but a historic meeting formally confirmed his role on Saturday during the ceremony at St James’s Palace, says the BBC.
The Accession Council, a body made up of senior politicians, judges and officials, proclaimed him as the monarch in the State Apartments.
Following the proclamation, the King formally announced the death of his “beloved mother, the Queen”.
“The whole world sympathises with me in the irreparable loss we’ve all suffered,” he said.
“My mother gave an example of lifelong love and of selfless service. My mother’s reign was unequalled in its duration, dedication and devotion. Even as we grieve, we give thanks for this most faithful life.
“I am deeply aware of this deep inheritance and of the grave duties and responsibilities which are now passed to me,” the BBC quoted Charles as saying.
He then went on to thank Queen Consort Camilla, saying: “I am profoundly encouraged by the constant support of my beloved wife.”
Charles III has been proclaimed as King during the Accession Council at St James's Palace. For the first ever time TV cameras were allowed in to witness the monumental piece of history. #royalfamily#kingcharles#Queenpic.twitter.com/gzwy6uYmeO
Also in attendance at the ceremony were Prime Minister Liz Truss, and former premiers Gordon Brown, David Cameron, Boris Johnson and Theresa May, as well as Archbishop Justin Welby and Prince William.
Before Charles was named the King, the death of the Queen was formally announced.
The 200 or so people gathered in the room all then said ‘God save the King’ before documents were signed.
Flags that were lowered in mourning for the late Queen will fly full-mast for a short time.
A wave of further proclamations will take place across the UK until Sunday.
UK inflation is already in double-digits and forecast to strike 13 percent in the coming months due to runaway energy bills…reports Asian Lite News
Britain announced a vast 80-percent hike in electricity and gas bills, in a dramatic worsening of the cost-of-living crisis before winter as the country awaits a new leader.
Regulator Ofgem said its energy price cap, which sets prices for consumers who are not on a fixed deal with their supplier, will in October increase to an average £3,549 ($4,197) per year from the current £1,971.
Worse is expected to come in January, when Ofgem next updates its cap, with average bills predicted to top £5,000 — or more.
“The increase reflects the continued rise in global wholesale gas prices, which began to surge as the world unlocked from the Covid pandemic and have been driven still higher to record levels by Russia slowly switching off gas supplies to Europe,” Ofgem said.
The announcement sparked outcry from charities which said financially-squeezed households faced one of the “bleakest Christmases” for years.
UK inflation is already in double-digits and forecast to strike 13 percent in the coming months due to runaway energy bills.
Inflation is at its highest level since 1982, with industrial action over pay growing, and the country is predicted to enter recession later this year.
The near-doubling in the energy cap will likely tip millions into fuel poverty, forcing them to choose between heating or eating, anti-poverty experts say.
“We know the massive impact this price cap increase will have on households across Britain and the difficult decisions consumers will now have to make,” said Ofgem boss Jonathan Brearley.
“I talk to customers regularly and I know that today’s news will be very worrying for many.”
The rampant cost-of-living has dominated the race between Liz Truss and Rishi Sunak to succeed Conservative Prime Minister Boris Johnson.
Political opponents have accused him of leading a zombie government and doing nothing to address the problem since his resignation in July.
Household and business consumers, energy suppliers and opposition politicians said urgent action is needed to avoid putting the most vulnerable in desperate situations.
A University of York study recently estimated two-thirds of UK households are at risk of fuel poverty by next year.
But Johnson, who has been on holiday twice in recent weeks, has promised to leave major fiscal decisions to his successor.
The winner will not be announced for another 10 days.
Inflation drives Pound near a 37-year low
It’s starting to look like nothing can stop the British pound from sinking to new lows.
With talk about inflation surpassing 18 per cent next year and families across the country likely to be pushed into energy poverty this winter, the UK’s economic woes are getting worse by the day. The consensus among traders is that the Bank of England will have no choice but to force the economy into a severe recession and cause widespread job losses to rein in price pressures.
It’s put historic lows for the pound within reach. The currency is trading around $1.18, less than 4 US cents away from its weakest level since 1985 against the dollar, underscoring the challenges facing the British economy and the next prime minister. The BOE is already forecasting a five-quarter recession starting later this year.
“Is there more downside? Yes, absolutely,” said Geoff Yu, senior currency strategist at Bank of New York Mellon Corp. “Even if things improve, sterling can’t return to where it was in the past of $1.40 or $1.45. That’s going to be very hard to achieve.”
ChartThe surge in power prices is feeding through financial markets through higher inflation forecasts, leading traders to believe that the BOE will have to be more aggressive. Money markets now show expectations for benchmark interest rates to rise 4.25 per cent next year, the highest since 2008. That’s drive up bond yields as well, with 10-year rates climbing to 2.59 per cent.
Theoretically, higher rates should lead to a stronger currency. But for the UK right now, it’s the opposite. The belief among investors is that further aggressive hikes in borrowing costs — needed to bring down price growth — would deepen Britain’s economic malaise, leaving the country worse off compared with the US and the euro region.
“Rates aren’t always going to be enough to support a currency when the growth-inflation trade off is this bad,” said Kit Juckes, chief currency strategist at Societe Generale SA in London.
UK inflation hit a 40-year high of 10.1 per cent year-on-year last month, and Citigroup Inc. has said it could surge past 18 per cent in January. More than half of UK households risk being pushed into energy poverty this winter by soaring bills, according to consultancy Baringa Partners.
Yields on UK short-end benchmark bonds — which are the most sensitive to changes in monetary policy — are poised to climb by a record this month. Two-year yields have risen 111 basis points, raising borrowing costs to 2.82 per cent, the highest since the global financial crisis in 2008.
On Thursday, RMT members at Network Rail (NR) and 14 train operators, TSSA members at seven companies, and Unite members at NR will strike…reports Asian Lite News
Rail, Tube and bus passengers will suffer fresh travel misery in London from Thursday as tens of thousands of workers stage strikes in long-running disputes over pay, jobs and conditions.
Network Rail, train companies, London Underground and buses in the UK capital will be hit by walkouts in the next few days, causing travel chaos for workers, holidaymakers and fans going to events, reports dpa news agency.
Members of the Rail, Maritime and Transport (RMT) union, Transport Salaried Staffs Association (TSSA) and Unite will be involved in the industrial action, after ongoing talks failed to break the deadlocked rows.
Strikes will affect services until the weekend.
On Thursday, RMT members at Network Rail (NR) and 14 train operators, TSSA members at seven companies, and Unite members at NR will strike.
This will have a knock-on effect on rail services on Friday morning.
Also on Friday, members of the RMT and Unite on London Underground will walk out, as well as Unite members on London United bus routes in the capital in a separate dispute over pay.
On Saturday, RMT members at Network Rail and 14 train operators, TSSA members at seven companies, and Unite members at NR will strike again, along with London United bus drivers.
Sunday morning train services will be affected by the knock-on effect of Saturday’s action.
Rail services on Thursday and Saturday will be drastically reduced, with only around a fifth running, and half of lines closed.
Trains will only operate between 7.30 a.m. and 6.30 p.m. on both strike days.
Picket lines will be mounted outside railway stations across the country.
RMT general secretary Mick Lynch said his union’s members are more determined than ever to protect their pensions, secure a decent pay rise, job security and good working conditions.
“RMT will continue to negotiate in good faith but we cannot tolerate being bullied or hoodwinked into accepting a raw deal for our members.
The industrial action will cause four days of disruption to services, with one union warning it "will not back down" until its demands are met https://t.co/OsvW7QuKT2
“The Government need to stop their interference in these disputes so the employers can come to a negotiated settlement with us,” he added.
TSSA members taking action include staff working in ticket offices, stations, control rooms, engineering, as well as planning, timetabling and other support roles.
The union is seeking guarantees of no compulsory redundancies, a pay rise in line with the cost of living, and promises of no unilateral alterations to job terms and conditions.
Advisors to Truss believed the cut could be introduced within days of an emergency budget that her government would deliver in September, if she wins the ruling Conservative Party’s leadership race that is due to end on Sept. 5, it said…reports Asian Lite News
Liz Truss, the front-runner to become Britain’s next prime minister, plans to rush through tax cuts earlier than planned in an attempt to boost the country’s flagging economy, the Sunday Telegraph reported.
Truss was considering accelerating by six months her plan to reverse this year’s increase in social security contributions which had been pencilled in for April 2023, the newspaper said.
Advisors to Truss believed the cut could be introduced within days of an emergency budget that her government would deliver in September, if she wins the ruling Conservative Party’s leadership race that is due to end on Sept. 5, it said.
Truss’s rival, former finance minister Rishi Sunak, says cutting taxes now would add more fuel to Britain’s soaring inflation rate which is set to surpass 13% in October, according to the Bank of England’s latest forecasts.
The BoE has also said Britain is due to enter a 15-month recession starting later this year, something Truss says adds urgency to her plan to cut taxes.
Truss, writing in the Sunday Telegraph, said she wanted to “immediately tackle the cost of living crisis by cutting taxes, reversing the rise on National Insurance and suspending the green levy on energy bills.”
Sunak proposes a different approach by giving support directly to lower-income households that are most exposed to the surge in power bills which will rise sharply again in October.
💬 We cannot afford to stick with business-as-usual when our economy is on the verge of recession.
I am trusted to forge a bold new direction and do whatever it takes to pave the way towards a brighter, more prosperous future.
On Saturday, he reiterated that he wanted to “go further” than the support he provided as finance minister before he resigned in protest at the leadership of Prime Minister Boris Johnson in July.
“It’s simply wrong to rule out further direct support at this time as Liz Truss has done and what’s more her tax proposals are not going to help very significantly, people like pensioners or those on low incomes,” he said.
A recent poll by YouGov showed Truss held a 24-point lead over Sunak among Conservative Party members who will choose the party’s next leader and Britain’s next prime minister.
In her Sunday Telegraph article, Truss kept up her criticisms of the BoE, saying it had exacerbated the jump in inflation and she would “work night and day” to fix the problem.
“That is why I want to look around the world at what the best performing central banks are doing to control inflation and how we can ensure our Bank is delivering what we need it to deliver,” she said.
BoE Governor Andrew Bailey has denied the BoE is to blame for the inflation surge, saying it began to raise interest rates earlier than other central banks and most of the recent acceleration of prices stems from Russia’s invasion of Ukraine.
Sunak under fire
Rishi Sunak, trailing in the two-horse race to replace British Prime Minister Boris Johnson, faced criticism on Friday for saying he had previously instigated policy changes to divert funding away from deprived urban areas.
The ruling Conservative Party is choosing a new leader after Johnson was forced to quit when dozens of ministers resigned in protest at a series of scandals and missteps. Party members are voting by post to select either Sunak or foreign minister Liz Truss.
Polling shows Sunak, who was finance minister between February 2020 and July 2022, is trailing Truss as the two candidates tour the country in a bid to secure votes.
His comments came in a video published on Friday by the New Statesman magazine, which it said was filmed on July 29 at a meeting of Conservative Party members in Tunbridge Wells, a relatively affluent area in south east England.
Sunak is seen telling an audience: “I managed to start changing the funding formulas to make sure that areas like this are getting the funding that they deserve, because we inherited a bunch of formulas from the Labour Party that shoved all the funding into deprived urban areas … that needed to be undone. I started the work of undoing that.”
The New Statesman did not specify who filmed the short video and Reuters could not independently verify the date or the location when the video was made. The context of his comments was not shown.
Asked about the comments, a source in Sunak’s campaign referred to reforms to ensure rural areas received funding alongside urban centres, pointing to his efforts, announced in March 2020, to redraw rules the finance ministry used to allocate investment.
Levelling up isn’t just about city centres, it’s also about towns and rural areas all over the country that need help too,” the source said, of Johnson’s policy to reduce regional inequalities.
“Travelling around the country, he’s seen non-metropolitan areas that need better bus services, faster broadband, or high quality schools. That’s what he’ll deliver as Prime Minister.”
Truss did not immediately comment on the video.
However, the opposition Labour Party seized on the video as evidence that the Conservatives, who have been in power since 2010, are not committed to spreading wealth across the country.
“Public money should always be distributed fairly and spent in areas where it is most needed,” Labour’s spokeswoman on Levelling up, Lisa Nandy, said in a letter to the government, describing the comments as “deeply concerning” and calling for an investigation.
According to English Heritage, “London’s famous blue plaques link the people of the past with the buildings of the present.” It adds, “(This scheme) is thought to be the oldest of its kind in the world.”…reports Asian Lite News
The London home of Dadabhai Naoroji – the first Asian to be elected a British Member of Parliament – is set to get a ‘blue plaque’, an honour reserved for notable personalities who have lived and worked in London.
The politician’s biographer Dinyar Patel said the plaque would go up later this month at 72, Anerley Park where Naoroji lived from 1895 to 1904.
Author of ‘Naoroji: Pioneer of Indian Nationalism’, Patel lauded the decade-long attempt by non-governmental charity organisation English Heritage in acquiring the plaque.
The Blue Plaque scheme was established in 1866, now run by English Heritage, and is attached to a building in honour of “notable men and women who have lived or worked” in London.
According to English Heritage, “London’s famous blue plaques link the people of the past with the buildings of the present.” It adds, “(This scheme) is thought to be the oldest of its kind in the world.”
Dadabhai Naoroji was one of the founding members of Indian National Congress and notably the first Asian to be in the British Parliament from 1892-1895 as a Liberal Party candidate. At a time when the British ruled India, Naoroji laid the foundation of India’s freedom movement by establishing India’s first political association, the Bombay Association, in 1852.
Three years after traveling to the UK and joining the first Indian business firm of the mercantile Cama family, Naoroji established his own cotton trading company, Dadabhai Naoroji & Co in 1859.
In 1867, he established the ‘East India Association’ in order to fight discrimination against Asians. The organisation was merged with the Indian National Association – eventually becoming the Indian National Congress in 1885.
Naoroji returned to India in 1874, only to go back to the UK a few years later. An unsuccessful bid to win an election in 1886 as Liberal Party candidate gained him popularity when then British Prime Minister Lord Salisbury said that the English constituency was not ready to elect a “black man”.
During his tenure in Parliament, Naoroji raised issues of Indians and campaigned for India’s independence in the House of Commons among other things. Naoroji lost the subsequent election in 1895.
In 1886, 1893, and 1906, he presided over the annual sessions of the Indian National Congress.
Mahatma Gandhi in a letter to Dadabhai Naoroji wrote, “The Indians look up to you as children to the father. Such is really the feeling here.”
In a gloomy assessment from the National Institute of Economic and Social Research found that average real disposable incomes will fall by an unprecedented 2.5% this year and remain 7% below their pre-Covid level through 2026…reports Asian Lite News
The British economy is already in recession as the cost of living crisis has devastating consequences for household incomes, a leading think tank has concluded.
In a gloomy assessment from the National Institute of Economic and Social Research found that average real disposable incomes will fall by an unprecedented 2.5% this year and remain 7% below their pre-Covid level through 2026.
“The UK economy is heading into a period of stagflation with high inflation and a recession hitting the economy simultaneously,” said Stephen Millard, NIESR’s deputy director for macroeconomics.
It also estimated the number households living from paycheck to paycheck will almost double to 7 million by 2024, including 5.3 million with no savings at all. They will be forces to go into debt or arrears as soaring energy bills eat into incomes, the group said.
The warning of a recession, which NIESR said started this quarter and will continued until early 2023, is a stark reminder of the challenges facing the two contenders vying to replace Boris Johnson as prime minister. The economists said the depth of the crisis will force the government to respond, suggesting a defined objective is required instead of financial management approach of the past, Bloomberd reported.
It also flagged calculations showing the economic gap between London and the rest of the UK is widening. That suggests the government’s flagship policy of “levelling up” less wealthy areas is falling short.
UK ‘heading for stagflation’ as high inflation and recession hit economy – business live https://t.co/eyo5yR3csM
The think tank suggested the most vulnerable in the UK need further help in the face of consumer price inflation that it said will rise to almost 11% this year. Retail price inflation, meanwhile — a broader measure used to set increases in train fares and government interest costs, will hit 17.7%, the highest since 1980,
In response, it sees the Bank of England hiking interest rates to 3% next year. Unemployment will rise above 5% as demand falls, according to the projections.
“It’s now up to the Monetary Policy Committee to make sure inflation does come down next year and the new Chancellor to support those households most affected by the recession and cost-of-living squeeze,” Millard said.
Energy bills in forecast to hit $4,401
Households across the UK have been warned they could face an annual energy bill in excess of 3,600 pounds this winter.
Energy consultant Cornwall Insight said a regular gas and electricity bill in England, Wales and Scotland could reach 3,615 pounds in the new year, which is hundreds of pounds more than previous predictions, reports dpa news agency.
In May, the British government announced an energy costs support package. worth 400 pounds per household. in response to predictions that bills would rise to 2,800 pounds for the average household in October.
Last month, Cornwall Insight predicted that annual energy bills would typically rise to 3,244 pounds from October and 3,363 pounds from January 2023, but circumstances have changed significantly since then.
The company told the BBC on Tuesday that such a bill is now likely to rise to 3,358 pounds from October and 3,615 pounds from January 2023.
Cornwall Insight’s principal consultant, Craig Lowrey, said surging gas prices and concerns about Russian supply had prompted the increase.
“However, while the rise in forecasts for October and January is a pressing concern, it is not only the level – but the duration – of the rises that makes these new forecasts so devastating,” he told the BBC.
“Given the current level of the wholesale price, this level of household energy bills currently shows little sign of abating into 2024.”
Lowrey joined other experts in saying government support will “only scratch the surface” for households.
Charity National Energy Action last month predicted that, should the average bill reach 3,250 pounds per year, 8.2 million UK households will be in fuel poverty, or one in three.
‘1 in 5 nightclubs closed amid pandemic’
One in five nightclubs in Britain has closed over the past three years after the sector was badly hit during the Covid-19 pandemic, and the government has been urged to intervene “before it’s too late”.
The Night Time Industries Association (NTIA) has shared figures which suggest the pandemic and current economic pressures have taken a heavy toll on nightclubs across Britain.
NTIA, a trade body representing businesses in the night-time economy, raised concerns about the latest CGA statistics, which state there are only 1,130 nightclubs left in England, Wales and Scotland.
CGA, a data and research consultancy for the food and drinks market, recorded that there were 1,446 nightclubs in Britain in December 2019 and 1,924 in December 2014, according to the data shared by NTIA.
NTIA chief executive Michael Kill said: “Late-night economy businesses were one of the quickest sectors to rebound during the financial crash many years ago, harbouring an abundance of resilience and entrepreneurial spirit.
“It’s without a doubt that these businesses, particularly nightclubs, have a huge part to play in the regeneration of high streets in towns and cities across the UK. Beyond the generation of footfall through trade, domestic and international visitors to clubs support the local economy in secondary and tertiary purchases through accommodation, travel and retail. It is also key to recognize that these businesses play a key part in people’s decision-making process, from choosing a university or college to influencing investment choices for businesses relocating or expanding, to accommodate for a young workforce, not forgetting the important part they play in people’s physical, mental and social wellbeing. The government needs to recognize the economic, cultural, and community value of clubs and the wider night-time economy. We must protect these businesses, using every means possible, and recognise their importance before it’s too late.”
A Treasury spokesman said: “We’ve stood behind the hospitality sector throughout the pandemic with a 400 billion pounds package of economy-wide support that saved millions of jobs and offered a lifeline to hundreds of night-time businesses up and down the country.
“We also went long with that support through a Recovery Loan Scheme for nightclubs to grow and recover from unprecedented disruption. And at the Spring Statement we went further, announcing a 1,000 pound increase to the Employment Allowance which will cut taxes for hundreds of thousands of businesses.”
The Sunday Times reported that Johnson has told aides that he intends to give his successor some words of advice, “whoever she may be”…reports Asian Lite News
The voting to decide the next occupant of 10 Downing Street has started and British Conservative frontrunner Liz Truss won further heavyweight endorsement Monday.
Announcing that she was supporting Truss as “the hope candidate”, international trade minister Penny Mordaunt delivered a major blow to former finance minister Rishi Sunak.
It comes after Defence Secretary Ben Wallace and finance minister Nadhim Zahawi also showed their support for Truss to become Britain’s next prime minister.
Experts believe that a large minority of the roughly 200,000 Tory members hold a grievance against Sunak whose resignation triggered the downfall of former prime minister Boris Johnson’s government.
The Sunday Times reported that Johnson has told aides that he intends to give his successor some words of advice, “whoever she may be”.
Warning against complacency, Truss promised to “unleash” farmers from European Union regulations to improve the UK’s food security.
After Truss steamed into a strong polling lead on a platform of immediate tax cuts to address Britain’s worst cost-of-living crisis in generations, Sunak needs to recapture momentum.
Conservative leader William Hague, who was Sunak’s predecessor as MP in their northern English constituency, has endorsed him.
Highlighting that the opposition Labour party is riding high in the polls amid the economic crisis and political tumult of Johnson, both the contenders have stressed the need for unity once the election is out of the way.
