6:42 am, January 31, 2023
UK economy set for sharp contraction in weakest performance among G7 – IMF
Britain’s economy will slam into reverse this year and it’ll see the worst performance of all the advanced nations, the International Monetary Fund (IMF) has warned.
In its latest World Economic Outlook update, the IMF downgraded its UK gross domestic product (GDP) forecast once again, predicting a contraction of 0.6 per cent against the 0.3 per cent growth pencilled in last October, as the cost-of-living crisis hits households hard.
The grim outlook puts the UK far behind its counterparts in the G7 group of advanced nations and the only country – across advanced and emerging economies – expected to suffer a year of declining GDP. But the IMF boosted its outlook for UK growth in 2024 to 0.9 per cent, up from the 0.6 per cent previously forecast.
Firefighters vote to strike as industrial action spreads
Firefighters have become the latest public sector union to vote for strike action as last-ditch talks failed to avert a walkout tomorrow by teachers in England and Wales.
Members of the Fire Brigades Union backed walkouts by 88 per cent on a turnout of 73 per cent after earlier rejecting a five per cent pay offer.
The union said it was giving the government and employers 10 days to make an improved offer before deciding its next move. University lecturers, train drivers, civil servants, bus drivers and security guards are also walking out tomorrow.
Almost a quarter of drivers say seat belt laws are too soft – survey
Nearly a quarter of drivers believe punishments for not wearing a seat belt are too lenient, a new survey suggests.
Some 24 per cent of 1,800 UK motorists polled for the RAC said the existing maximum penalty in Britain of a £500 fine isn’t strong enough.
More than two-thirds (69 per cent) of those people think offenders should receive at least three points on their licence as well as a fine. It was 40 years ago today that the seatbelt law was introduced.
New London scrappage scheme announced ahead of Ulez expansion
Transport for London has introduced a new scheme that will offer motorists up to £5,000 to scrap or upgrade their vehicle in order to meet Ultra Low Emission Zone (Ulez) requirements.
A £110m fund will provide grant payments to applicants on low-income and disability benefits with vehicles that don’t meet Ulez requirements, ahead of the zone’s expansion in August.
Applicants with a wheelchair-accessible car or van can get up to £5,000, while drivers of a standard car can receive up to £2,000 to scrap their vehicle. Motorcycle riders can also receive up to £1,000 for scrapping their bike.
Read more here.
NHS consultants to hold ‘indicative’ ballot
NHS consultants in England are gearing up for possible strike action as the wave of industrial unrest convulsing the public sector shows no sign of abating.
The British Medical Association (BMA) – the country’s biggest doctors’ union – is to hold an indicative ballot of its consultant members in February in a dispute over pay and pensions.
Pakistan mosque suicide bombing death toll rises to 83
The death toll from yesterday’s suicide bombing at a mosque in the city of Peshawar in north-western Pakistan has risen to 83.
A hospital spokesman said more bodies were retrieved from the rubble of the mosque overnight and early today, and several of those critically injured died in hospital.
‘Most of them were policemen,’ Mohammad Asim said of the victims. The attack also wounded more than 150 people. A Pakistani Taliban commander initially admitted responsibility for the attack but later a spokesperson distanced the group from the bombing, saying it wasn’t its policy to target mosques, seminaries and religious places.
France hasn’t ruled out sending warplanes to Ukraine, says Macron
President Emmanuel Macron has said France doesn’t exclude sending fighter jets to Ukraine, but laid out multiple conditions before such a significant step might be taken.
France has sent air defence systems, rocket launcher units, cannons and other military equipment and has pledged to send armoured surveillance and combat vehicles, but has so far stopped short of sending battle tanks or heavier weaponry.
Ashton Kutcher reveals he nearly bought a Premier League team
Ashton Kutcher says he recently came close to buying a Premier League football team.
The American actor, 44, revealed he decided against following in the footsteps of fellow Hollywood stars Ryan Reynolds and Rob McElhenney, who took control of Wrexham AFC in 2021, as the distance between the US and UK would stop him from being present at matches regularly. Kutcher didn’t say which team it was.
Kutcher discussed the decision while appearing on The One Show yesterday with his co-star Reese Witherspoon, 46, to promote their upcoming Netflix movie Your Place or Mine. Meanwhile, the Legally Blonde actress said she could be tempted to invest in Arsenal as they’re her favourite team.
Monday’s headlines on Car Dealer you might have missed
- Used car prices rose marginally in January but some electric cars lost over £5,000 in value
- Stockbroker slashes used car supermarket Motorpoint’s profit forecasts and warns of serious issues ahead
- Renault and Nissan agree equal shares in alliance to iron out conflict
- Carmakers warn ministers that stringent 2024 EV sales targets could be derailed
Market movements
The FTSE 100 closed up 19.72 points yesterday to end the day on 7,784.87. The Cac 40 was down 15.20 points at 7,082.01, the Dax was down 23.95 points at 15,126.08, and the Dow Jones was down 260.99 points at 33,717.09.
Weather outlook
This morning will see light rain and cloud clear in the south, says BBC Weather, and it’ll then be dry for many with sunny spells. Scotland will have frequent blustery showers that will be wintry over high ground.
Wednesday will be cloudy with rain across northern England, southern Scotland and Northern Ireland. Meanwhile, it’ll be drier in the south with sunny spells, turning cloudier.
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