A country that is on the front line

The cost of living crisis is a global phenomenon, no doubt - but Britons may end up having it worse than anyone else. Kristin Forbes, a former member of the Bank of England's Monetary Policy Committee, warned last week that “there's about six factors that feed through into inflation and the UK hits every box”. People in most countries are feeling the pain from higher energy bills, supply chain disruptions and a hangover from the pandemic. However, price pressures in the UK are expected to be worse and longer lasting. Why? It's largely thanks to an extremely tight jobs market, a plunging pound and higher inflation expectations. Britain is set to experience a toxic combination of these price drivers. In addition, the UK is putting up taxes on households , something few governments are daring to do at a time of soaring living costs. Forbes, now an economics professor at MIT, told the Treasury Committee last week: “Put it all together, you see why this is a particularly … [Read more...] about Why Britain is facing a more severe cost-of-living crisis than other countries

Finance and Expenditure Committee / New Zealand Parliament Reserve Bank governor Adrian Orr not buying into 'regret analysis'. New Zealand’s economy is “red-lining” and there is likely to be more pain to come, including significant house price declines, economic updates released on Tuesday say. Both Westpac and Infometrics have released reports outlining the challenges ahead. Westpac increased its prediction to an inflation-adjusted house price fall of just over 20%, while Infometrics said the economy had slammed into “very hard” capacity constraints. Infometrics’ March Quarterly Economic Monitor shows economic activity rose 2% per annum in the quarter but was flat quarter-on-quarter as workers and materials became harder to find. “We’re struggling to resource further growth in the near-term. In effect, the New Zealand economy is red-lining and continues to operate above capacity, with higher prices overshadowing any real growth,” said Infometrics principal economist and … [Read more...] about Economy ‘red lining’: Another bank predicts biggest house price fall since 1970s

Frogmore House is 'special' to Harry and Meghan says expert Sign up for FREE now and never miss the top royal stories again SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Prince William and Kate Middleton currently live in Kensington Palace, but they are said to be looking to move to Windsor as soon as possible. The royal couple have reportedly checked out a number of royal homes in the area and are now looking at private homes. The Duke and Duchess of Cambridge have so far ruled out Fort Belvedere, which was the home of former King Edward VIII and Wallis Simpson for a few years until his abdication in 1936. Related articles Aldi shoppers praised £7 face cream for 'youthful' results Royal Mail hike up First … [Read more...] about Kate Middleton and William prepping move to Windsor – inside Frogmore House worth £2.5m

Sri Lanka only has enough petrol stocks to last a single day, with the possibility of power outages lasting up to 15 hours a day, the country's new prime minister has warned. In his first address to the nation since his controversial appointment last week, Ranil Wickremesinghe said there is also "grave concern" about the shortage of 14 medicines, with a particular lack of heart disease drugs and the anti-rabies vaccine - the latter of which has no alternative treatment. "Payments have not been made for four months to suppliers of medicine, medical equipment, and food for patients," said Mr Wickremesinghe. He warned that the next couple of months "will be the most difficult ones of our lives. We must prepare ourselves to make some sacrifices and face the challenges of this period". It comes as the country's power minister, Kanchana Wijesekera, told people not to join the long fuel queues that have galvanised weeks of anti-government protests. Advertisement … [Read more...] about Crisis-hit Sri Lanka has enough petrol left for only one day, new leader warns

DRAMATIC video shows the moment Ukrainian drones blitz a Russian base as Vladimir Putin's disastrous war has seen his forces pushed all the way back to the border. Footage shows the moment bombs - dubbed by Ukrainian commanders as "letters of happiness" - fall to the ground before exploding in massive balls of fire. With a thermal camera mounted on the small drone, you have a birdseye view of the base as the shells plummet towards the unsuspecting Russians . The attack was carried out by soldiers from the 503rd Independent Marine Infantry Battalion. Putin had expected to roll over Ukraine in a matter of days, but instead his forces have found themselves pushed all the way back into Russia. Ukrainian troops have been fighting tooth and claw as they defend their country against the invaders - with Kyiv boasting they have killed more than 26,000 soldiers and blown up thousands of vehicles. READ MORE ON UKRAINE EU’RE A HERO Eurovision … [Read more...] about Dramatic moment Ukraine blitzes Russian base with infrared drone as Putin’s troops are forced BACK to the border

An animal rescuer is due to travel from South Africa to Ukraine this week to rescue nine lions from a zoo in a city that is under attack. Lionel De Lange is today preparing to travel to the war zone via Romania in a convoy of vehicles to save the pride from Russian fire as well as the possibility of starvation as funds for their upkeep run out. They will be temporarily relocated to a municipal zoo in Romania awaiting paperwork for relocation to a ‘forever home’ abroad, which could mean being flown out to Mr De Lange’s reserve in South Africa. The intention is to move the pride to the temporary holding facility over the border in Radauti, north-eastern Romania, where another two lions rescued since the outset of the Russian invasion are also awaiting relocation. One of the creatures, Simba, was driven to safety from close to the frontline in eastern Ukraine by two British humanitarian volunteers after they loaded him into the back of a van. Mr De Lange, who is … [Read more...] about Team making 12,000-mile trip to save nine lions from Ukraine

Today (February 6) marks the 70th anniversary of Queen Elizabeth II’s accession to the throne. This summer, the seven-decade milestone will be celebrated with a four-day Platinum Jubilee , dubbed the country’s ‘biggest ever’ event . However, Accession Day itself is observed quietly, with a day of reflection. But what does accession mean, and how is it different from a coronation? What is Accession Day? Accession refers to the official process of a monarch taking office. Whoever is first in line to the throne officially becomes monarch the second their predecessor abdicates or dies, as the throne can never be vacant. As soon as King George VI died on February 6, 1952, Elizabeth officially became Queen – this is known as her accession. Prince Charles’ accession will be the day that the Queen sadly passes or abdicates – with his coronation ceremony taking place months later. At age 25, Princess Elizabeth was on the first stop of a Commonwealth tour … [Read more...] about What is the difference between the Queen’s accession and coronation?

A man with severe learning difficulties is among at least 20 people facing deportation to Jamaica on a Home Office flight scheduled for Wednesday. Half of these detainees – held in Brook House, Harmondsworth and Colnbrook immigration removal centres – have direct links to the Windrush generation and most arrived in the UK when they were children, campaigners claim. Urgent legal action has been launched to halt the deportation of the 34-year-old man, who has an IQ of 55 and is vulnerable to exploitation, according to a clinical psychiatrist. His devastated mum, who wished to remain anonymous, told Metro.co.uk he does not really understand what is happening to him. ‘He doesn’t want to talk to anyone,’ she said, addressing his current mental state. ‘I don’t think he really understands.’ Even though he moved to the UK in 2000 at the age of 13 and has had Indefinite Leave to Remain status since 2007, the government has been trying to deport him for the last seven years … [Read more...] about Man with severe learning difficulties listed for Home Office deportation flight to Jamaica

Researchers at the University of Florida say they have grown plants in moon soil and uncovered what one of the researchers calls the "stuff of exploration dreams." It is the first time that scientists have shown that life can emerge from regolith, the material found on the moon's surface . They say their findings, which were published in the journal Communications Biology, could have implications for future lunar exploration. Rob Ferl, who co-authored the study, said the research could help astronauts on lunar missions grow their own food and reduce the need for frequent supplies from Earth. "When humans move as civilizations, not just to explore for a couple of days, but when we go to stay somewhere, we always take our agriculture with us," Ferl said. Aside from providing a level of food security in space, the research has other potential benefits. It may also help astronauts purify the air, remove carbon dioxide from the atmosphere and produce clean water. How they … [Read more...] about Food security in space: Farming salad in moon soil

Karl Nehammer was sworn in as Austrian chancellor by President Alexander Van der Bellen on Monday in a ceremony in Vienna's Hofburg Palace as the country's third leader in three months. He now faces the task of trying to free the coalition government from the taint of months of political turmoil and scandal and of creating conditions conducive to lifting the country's coronavirus lockdown. Nehammer, 49, from the ruling conservative Austrian People's Party (ÖVP), was formerly the country's interior minister. Why is Nehammer taking power? Outgoing Chancellor Alexander Schallenberg offered his resignation on Thursday. One day later, the ÖVP nominated Nehammer as new party head — succeeding former Chancellor Sebastian Kurz in the position — and chancellor. Kurz's resignation as party leader and declared departure from politics also came on Thursday. Previously, he had stepped down as chancellor in October amid a corruption scandal that saw his offices searched in a police … [Read more...] about Austria: Karl Nehammer sworn in as new chancellor