Britain braces for more economic agony – Foreign Policy

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Welcome to today’s Morning Brief, where we take a look Britainthe new economic roadmap, Burmathe release of political prisoners, and Russia and Ukrainethe extended grain agreement.

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Britain unveils new economic roadmap

Welcome to today’s Morning Brief, where we take a look Britainthe new economic roadmap, Burmathe release of political prisoners, and Russia and Ukrainethe extended grain agreement.

If you would like to receive Morning Brief in your inbox every weekday, please sign up here.


Britain unveils new economic roadmap

As a cloud of economic gloom descends on Britain, the British government announced a plan of £55bn ($65bn) tax hikes and spending cuts on Thursday in a bid to stabilize the budget and calm worried markets.

of Prime Minister Rishi Sunak five year plan will probably intensify economic pressures on an audience already struggling with a painful cost of living crisis. Inflation skyrockets has a 41 years tall of 11.1% last month, and the country will soon be faced with its biggest drop ever in quality of lifeaccording to the Office for Budget Responsibility, which means Britons will see their real disposable income fall by more than 4%.

Britain is already in recession, Chancellor of the Exchequer Jeremy Hunt said on Thursday. In his remarks, he acknowledged that the government was making “difficult decisions”, although he stressed that these measures were necessary.

“There is a global energy crisis, a global inflation crisis and a global economic crisis,” he added. said. “But the British are tough, inventive and resourceful. We have faced greater challenges before.

“We are not immune to these headwinds but with this plan for stability, growth and public services, we will weather the storm,” he added.

Sunak’s economic program marks a sharp turnaround from that of his beleaguered predecessor, Liz Truss, who resigned in October after facing a fierce political backlash for pushing for unfunded tax cuts for wealthy Britons.

Shortly after Truss’ plan was announced, the value of the pound dropped to a record high against the dollar and the Bank of England declared an emergency intervention in the markets. As political pressure against his economic program intensified, Truss fired Kwasi Kwarteng, then chancellor, and came back parts of his controversial policies before finally stepping down.

Sunak has now been in office for almost a month, having participated in the last UN climate negotiations, COP27, as well as the G-20 summit in Bali, Indonesia. As the FinancialTimes‘ According to Martin Wolf, ‘Hunt and Rishi Sunak’s most important achievement is to reintroduce a degree of consistency and predictability into policy-making.’


What we follow today

Myanmar releases political prisoners. Myanmar’s military junta on Thursday released 5,774 prisoners, including four foreign citizens: Sean Turnell, an Australian economic assistance to Aung San Suu Kyi; Vicky Bowman, former UK Ambassador to Myanmar; Toru Kubota, Japanese documentary filmmaker, and Kyaw Htay Oo, American citizen.

Among the released prisoners, dozens were probably political prisoners. According to the Association for Assistance to Political Prisoners, the junta detained more than 16,000 people since the launch of a coup in 2021.

Extended grain agreement. Russia and Ukraine have extended UN and negotiated by Turkey Black Sea Grain Initiative of 120 days, after it was originally scheduled to end on November 19. The agreement, which was designed to help facilitate the global food crisis, has been marked by uncertainty since its promulgation in July.

“I welcome the agreement of all parties to continue the Black Sea Grain Initiative to facilitate safe navigation of grain, food and fertilizer exports from Ukraine,” said UN Secretary General Antonio Guterres.

Judgment MH17. A Dutch court has sentenced three men (in absentia) to life imprisonment for murder in connection with their role in the downing of a Malaysian Airlines plane flying from Amsterdam to Kuala Lumpur over Ukrainian territory in 2014. The attack on flight MH17, by Russian-linked separatists, killed 298 people, many of whom were Dutch citizens.


Egyptian dissident detained. The family of Alaa Abd el-Fattah, the detained Anglo-Egyptian activist, warned that his health has”seriously deterioratedafter seeing him for a monthly family visit scheduled for Thursday.

Abd el-Fattah, who had participated in a hunger strike for months, also began to refuse water to coincide with the start of COP27, the latest UN climate summit. He started drink water and eat again this week after a “near-death experience“, said his family, but intends to to resume his hunger strike.

Networks of migrant smugglers in Italy. After an investigation lasting more than three years, the Italian authorities apprehended 12 people for migrant smuggling. Officials said the suspects would earn between 30,000 and 70,000 euros per smuggling operation by requiring each migrant to hand over 3,000 to 5,000 euros.


A theme park crisis destroys the South Korean bond market by S. Nathan Park

Ukraine’s appetite for arms strains Western stockpiles by Jack Detsch and Amy Mackinnon

Sweden spy scandal raises tough questions about spy recruitment by Elisabeth Braw


Researchers believe octopuses may use their many arms to whip things at their peers, perhaps in an effort to create personal space, the Washington Post reported. In an effort to understand the phenomenon, researchers from the University of Sydney studied over 20 hours of footage; one showed a female octopus to throw 17 different objects in just one hour.

“We can’t be sure, but we think some hits are probably intentional,” said Peter Godfrey-Smith, an Australian researcher. Job.

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