UK is Declared ‘Broke and Broken,’ but what’s gone Wrong? August 10, 2024 Ukadmin UK Economy, UK News </p> <h2>UK is declared ‘broke and broken,’ but what’s gone wrong?</h2> <p> Nearly one month after it was elected to run the world’s sixth-largest economy in a landslide victory in early July, the new UK Labour government led by Keir Starmer declared the nation was “broke and broken.” UK Finance Minister Rachel Reeves has announced a slew of spending cuts after detailing how the new government has inherited a projected overspend of 22 billion pounds from previous Conservative governments. And all this is taking place as violent riots grip the country in the wake of a stabbing tragedy. Is the UK truly broke and broken? What has led the UK – the empire on which “the sun never sets” – to the verge of national bankruptcy? And what can be done to drag the nation out of its many crises?<br /> Guests in this edition of Dialogue are Marc Ostwald, chief economist and global strategist at ADM Investor Services International; Nina Skero, chief executive of the Centre for Economics and Business Research; and John Ross, senior fellow at the Chongyang Institute for Financial Studies at Renmin University of China.<br /> Credit to : CGTN</p> <p>
