A University of California study highlights the long-term damage caused by Brexit and austerity measures on the UK’s economic growth and social cohesion. The report calls for urgent action from the incoming government to address setbacks since the 2008 financial crisis. Political scandals, such as rule-breaking during the pandemic, have intensified public discontent and eroded trust in UK institutions. The study warns of interlocking crises for the next government, including signs of stagnation, particularly in addressing social and economic challenges. The report predicts a potential historic defeat for the Conservatives in the election and a challenging path for Labour to restore public trust and economic stability. Labour’s pledges include fiscal discipline, housing and infrastructure reforms, and clean energy investments. The study concludes that austerity and Brexit have left lasting scars on the UK economy, urging the government to prioritise regional planning and recovery.
HSBC joins other banks in cutting mortgage rates
27 Jun 2024
HSBC has joined Barclays and NatWest in reducing mortgage rates after hints of a summer base rate cut by the Bank of England. HSBC’s new rates took effect on 26 June, with more lenders expected to follow. However, borrowers still face high costs, and average mortgage rates have been rising due to a lack of competition during the election campaign. A commentator notes that the recent rate increases are now being unwound in small steps. Fixed mortgage rates remain constant until the deal expires, after which borrowers must choose a new rate or default to a more expensive variable rate. Around 1.6 million borrowers have expiring fixed-rate deals this year. The Bank of England may cut rates at its next meeting on 1 August, influencing recent lender moves.
A group of church leaders is taking a stand and threatening to split the Church of England over a vote on blessings for same-sex couples. Bishops have proposed trial standalone church services for gay and lesbian couples, pending a formal vote on making the change permanent. Over 25 church leaders have written to the Archbishops of York and Canterbury, warning that such a change could be 'unlawful' and claiming that the proposal departs from the Church’s doctrine. While priests can offer blessings within services, standalone services for same-sex blessings are not yet permitted, as some argue it equates to same-sex marriages. The General Synod will debate the issue next week. The Alliance, a conservative group supported by 2,000 clergy members, prepared the letter. It warns that further departure from the Church’s doctrine will force them to establish a new 'parallel province'.
The search for 19-year-old Jay Slater, missing since 17 June, continues in Tenerife with a multi-agency effort marked by silence from authorities. Despite the intense search in the rugged terrain of the Rural de Teno national park, involving the Civil Guard, specialist sniffer dogs, and drones, agencies have been reluctant to comment, fuelling online conspiracy theories. The operation, initially sprawling, has now focused on a specific ravine with a water source. Officers start their search at 8 am, navigating difficult terrain with special equipment. Weather conditions have varied, complicating the search efforts. As each day ends without answers, the lack of updates adds to the anguish of Jay's loved ones, who continue to wait for news. His family remains hopeful; his mother, Debbie Duncan, is urging the public to pray for her son and expressing faith in the search teams.
A groundbreaking non-invasive procedure, ultrasound thalamotomy, has given hope to Parkinson’s patients by significantly reducing tremors. Ian Keir, 63, diagnosed with Parkinson’s in 2018, experienced uncontrollable tremors that hindered everyday tasks. After undergoing the procedure, Keir can now write, cut food, and perform tasks independently. He describes the outcome as miraculous. The procedure uses high-intensity focused ultrasound to create a lesion in the thalamus, the brain region controlling movement. A consultant at the University of Dundee has hailed the procedure as a milestone for Scottish medicine, emphasising its life-changing impact. Despite the technology's limited availability, the success in treating Parkinson’s symptoms marks significant progress.
France: Macron’s gamble looks like backfiring
27 Jun 2024
France's political future is uncertain as Marine Le Pen’s far-right National Rally (RN) leads opinion polls ahead of parliamentary elections on 30 June. Emmanuel Macron faces potential ‘cohabitation’ with an opposing prime minister, or a fragmented chamber unable to form a stable majority. The polls give RN at least 35% in the first round, with a left alliance at 29% and Macron's centrists around 20%. A high turnout is expected. RN could possibly win more than half the 577 seats being contested. Le Pen is already planning to challenge Macron's authority, especially regarding military decisions: her candidate for prime minister, Jordan Bardella, opposes sending long-range missiles to Ukraine. Current prime minister Gabriel Attal is seeking to highlight RN's divisiveness and the left’s sectarian policies. A final debate offers a last chance to sway voters.
Russia: 20+ killed in terrorist attacks
27 Jun 2024
At least twenty people have been killed in a series of shootings in Dagestan on 24 June. The attacks targeted a synagogue, an Orthodox church, and a traffic police post. Among the victims were fifteen law enforcement officers and civilians, including an Orthodox priest. The synagogue and church were set on fire before the attackers fled. The authorities say that five gunmen were later shot dead, and two sons of a local district head were arrested. The regional governor called it a ‘day of tragedy’ and declared three days of mourning in the predominantly Muslim region. Russia's national anti-terrorism committee attributed the attacks to ‘terrorists’, though no group claimed responsibility. This incident follows a major attack on a concert hall in Moscow three months ago, which killed 145 people.
Following violent protests in which 22 people were killed, president William Ruto has announced he will not sign a finance bill proposing new taxes. The bill, which aimed to raise funds to pay off debt, has faced widespread opposition from Kenyans struggling economically. On 25 June thousands of protesters stormed parliament, an action which Ruto called ‘treasonous’. In the chaos which ensued, the police and military were accused of brutality, with human rights groups reporting abductions and hundreds of injuries. Acknowledging the ‘widespread dissatisfaction’, Ruto admitted the need for a national conversation on managing the country's affairs together. The high court has suspended the military deployment and ordered the release of all protestors. Many young voters who supported Ruto in 2022 now oppose his reforms, feeling betrayed by the economic hardships. He has been criticised for not adopting a more conciliatory approach, and widespread protests continue: see