Displaying items by tag: black hole

Rachel Reeves has dismissed claims that she faces a £50 billion 'black hole' in the public finances. She insisted that reports about massive funding gaps were exaggerated, saying many commentators were 'talking rubbish'. Concerns rose this week as long-term government borrowing costs hit a 27-year high, sparking fears of tax hikes or spending cuts ahead of the 26 November Budget. Reeves emphasised her commitment to two borrowing rules: that day-to-day spending must be funded from tax income by 2029–30, and that debt must fall as a share of national income within this parliament. While she ruled out tax rises on VAT, National Insurance, and income tax for working people, speculation continues over possibly targeting property, banks, and other sectors. She rejected talk of an IMF bailout, and promised to strike a balance between funding public services - particularly the NHS - and encouraging growth, saying there are already 'positive signs' in the economy. See https://news.sky.com/story/interest-rates-considerably-more-doubt-over-future-cuts-bank-of-england-governor-warns-13424292

J John writes, ‘As I thought about black holes in this run-up to Easter, I found myself contrasting the idea of the black hole with the cross. There are comparisons - the black hole looks inward while the cross points out, takes in while the cross gives out, brings destruction while the cross brings life. Those opposing images could be principles that govern our lives. Do we take in or do we give out? Is our priority our own well-being or that of others? Do we focus on the fulfilment of our own desires or the concerns of those about us? Each of us must choose what principle we live under; to decide whether the geometry of our lives is the shape of the cross or the monstrous and ever hungry circle of the black hole. These two opposing principles are important when it comes to Christian involvement in society. We can choose to look inwards or outwards. Jesus constantly encouraged his followers to be salt and light.’