Sunak Promises Tax Reductions by Limiting Welfare Expenditures
Rishi Sunak, the UK’s chancellor, is preparing to make a pitch to voters during a visit to Lancashire, focusing on tax cuts as a way to boost the fortunes of the Conservative Party. Meanwhile, the Labour Party’s Keir Starmer has said he is ready to challenge Sunak on tax policy and state size, arguing that his party is willing to borrow to invest and stimulate economic growth. Also, the global shipping fleet has reached its oldest average age in almost 15 years, with shipowners capitalizing on growing demand for second-hand vessels from operators of a “shadow fleet” transporting Russian oil subject to sanctions.
Stay updated with complimentary news updates directly to your inbox by subscribing to the World myFT Digest.
Britain Enters Election Year ‘Pointing in Right Direction’: Rishi Sunak
Rishi Sunak will outline his voter appeal in Lancashire today, asserting Britain enters an upcoming election year headed in the right direction. The focus of his campaign to reinvigorate Tory fortunes lies in tax cut promises. He plans to emulate John Major’s unexpected 1992 Tory election victory, convincing voters that a struggling economy is improving, and changing to the Labour party would be risky. But Labour leader Sir Keir Starmer said he was ready for a “fight” with Sunak on tax policy and state size. Learn more about his expected remarks today.
1. European Council president Charles Michel plans to run in EU-wide elections in June, a step that could increase Viktor Orbán’s influence over EU policymaking if elected. Here’s why the Hungarian prime minister could benefit.
2. Electric vehicle exports from China to Europe have been delayed by a shortage of ships, driving shipping prices to record levels. Read the full story.
3. Israel claims it has successfully eradicated Hamas as an organized fighting force in northern Gaza. The military has shifted its focus to the center and south of the battered territory in a new stage of its war against the Palestinian militant group.
4. Congressional leaders have agreed on a $1.66tn US federal spending limit for 2024, less than two weeks before a budget deadline. Find out if it will be passed in time.
5. US regulators have initiated an investigation into how part of a new Boeing 737 Max blew out mid-flight. Learn more about the incident.
The Big Read
The NHS, like the rest of the public health sector, outsources mental health support to the private sector. However, unlike other sectors, the 50 mental health trusts that provide services across England often depend on private providers for specialized, complex, and costly care. This reliance could have damaging effects on patients sent far from their families for treatment.
Chart of the Day
The global shipping fleet has reached its oldest average age in almost 15 years.
A Break from the News
Understanding internet slang is crucial in a professional context to avoid generational divisions in workplaces globally. However, bosses should not resort to forced utilization of internet slang in conversations. Find out why.
Working It — Essential insights for getting ahead at work. Sign up here
One Must-Read — The top piece of journalism you should read today. Sign up here
Read More US Political News