11/19/2023 0 Comments Sure cuts a lot 4 pro![]() ![]() “And we need to respond to that in a way that doesn’t drive us into recession, but also makes sure the UK is resilient to shocks going forward. He said: “We are likely to see an increase in our debt payments this year of between £20bn and £30bn. Mr Hunt signalled that any hole in the public finances will be paid for by an efficiency drive in the public sector that is currently being conducted by John Glen, the chief secretary to the Treasury. ![]() Referring to the gloomier global backdrop, Mr Hunt said: “The financial picture I face is worse than in the spring and that means I will have to take difficult decisions to make sure that in the face of what’s happening in Ukraine and Israel, we are resilient and that’s one of the most important things that any chancellor can do.” “Now, we are of course worried about what will happen if the crisis spreads.” “Even prior to this development we were worried about a prolonged period of higher oil prices,” he said. “Now may be the most dangerous time the world has seen in decades,” Mr Dimon said after the company published its quarterly results.Īyhan Kose, the World Bank’s deputy chief economist, said the tensions represented another shock to the global economy in a world where oil prices are already high. Jamie Dimon, the boss of JP Morgan, also warned of “far-reaching impacts on energy and food markets, global trade, and geopolitical relationships” triggered by escalating conflict in Ukraine and Gaza that has rattled financial markets and pushed up prices. The World Bank signalled it would raise its oil price forecasts later this month owing to fears of a “prolonged period of higher prices”. Gas prices also rose to their highest levels since February amid warnings of an Arctic blast this weekend that will see temperatures plummet across Western Europe. Oil prices climbed to just below $90 (£74) a barrel on Friday as concerns mount over the implications of a potential ground assault by Israel on Gaza. It came as the World Bank said escalating tensions in the Middle East sparked by a Hamas terrorist attack risked delivering a “serious shock” to the global economy. His comments are likely to reignite fury within the Tory party over tax cuts even as the IMF said the Government was likely to “overperform” and borrow less this year than official forecasts predicted. Speaking on the sidelines of the International Monetary Fund (IMF)’s annual meeting in Marrakech, Mr Hunt warned the public finances were now “worse than in the spring” amid a jump in borrowing costs that will add up to £30bn a year to Britain’s debt interest bill. The Chancellor said higher borrowing costs had wiped out any prospects of tax cuts in November, warning of a further public sector squeeze in order to get debt down. But Modric is a special case, a midfielder who seems to deserve a bigger role, wherever that may be.Īnd with the option to play regularly once more surely imminent, albeit at an MLS club it could be time for him to say goodbye to Santiago Bernabeu - perhaps sooner than he expected.Jeremy Hunt has warned of “difficult decisions” as he prepares to deliver an Autumn Statement against a backdrop of wars, weaker growth and soaring energy prices. Modric has been little more than a steady back-up for Carlo Ancelotti's side so far this season, though there is an argument to be made that his role could grow in importance as the months go on. Rather, it's a look at a strange reality: The 2018 Ballon d'Or winner, arguably the finest midfielder of his generation, can't really get a look in for his club anymore. Nor is it an advisory piece for either Florentino Perez or Beckham. Nor is it an assertion that the midfielder, now 38 years old, cannot offer anything on a football pitch. What follows is not a Modric footballing obituary. But perhaps the most intriguing name to have popped up in the gossip columns is that of Luka Modric, who has been repeatedly linked with a move to South Beach having fallen out of favour at Real Madrid, with Miami owner David Beckham reportedly driving the club's interest.
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