Page 33 - Uk

UK Treasury chief delays detailing new economic plans until Nov 17

UK Treasury Chief Jeremy Hunt has delayed a statement on the country's economic affairs until November 17, only a day after the new prime minister took office. Hunt told the BBC says that a two and half week delay will ensure the right decisions are taken. The statement was originally set to be announced on October 31. The Treasury says in a tweet that new Prime Minister Rishi Sunak and Hunt have agreed that the statement will include a forecast from the independent Office of Budget Responsibility. It will contain the UK's medium term fiscal plan to put public spending on a sustainable footing, get debt falling & restore stability," the Treasury said on Twitter.

Working towards best FTA with 'economic superpower' India: UK's Greg Hands

Describing India as an "economic superpower", Britain said on Wednesday that it was working towards the "best" Free Trade Agreement (FTA) that is beneficial to both the countries. India and Britain launched negotiations for the FTA in January with an aim to conclude talks by Diwali but the deadline was missed due to a lack of consensus on issues. "We have already closed the majority of Chapters and look forward to the next round of talks shortly," Secretary of State for International Trade Greg Hands said while replying to a question from Nick Thomas-Symonds, Shadow international trade secretary. A "strong FTA can strengthen the economic links between UK and India, boosting the UK economy by more than 3 billion pounds by 2035, helping families and communities," he said. He said that the FTA can cut red tapes, make it cheaper for UK companies to sell into India's dynamic market , helping drive growth and support jobs across every nation and region. Greater access could help UK ...

UK PM Sunak warns of 'very difficult decisions' to tackle economic crisis

Britain's newly-appointed Prime Minister Rishi Sunak on Wednesday warned that his government will have to take some "very difficult decisions" but assured the people that he would also act with compassion while tackling the country's "profound economic crisis." Sunak, Britain's first Indian-origin Prime Minister, took office on Tuesday with a pledge to fix the "mistakes" his predecessor Liz Truss made which left a blackhole in government finances and the markets in turmoil. Sunak, the third prime minister in seven weeks, opened the Cabinet meeting by saying that "economic stability and fiscal sustainability would be at the heart" of his government's mission, according to a read-out from his first cabinet meeting. "This morning I set out to Cabinet the enormous task we face, and why I am confident that this government can rise to the challenge and deliver for the whole United Kingdom," Sunak tweeted. "Now is the time to get to work and earn the trust of the British people," he wrote

Have completed most of India trade deal, will only sign once happy: UK

Britain has completed majority of sections of a free trade agreement with India but will only sign off on the deal once happy that it is fair and reciprocal, trade department minister Greg Hands said

Hopes for India-UK FTA talks impetus with new Prime Minister Rishi Sunak

As Rishi Sunak takes over as Britain's first Indian-origin Prime Minister on Tuesday, there is renewed hope that the India-UK free trade agreement (FTA) will get a much-needed impetus after the Diwali deadline for draft completion was missed amid political turmoil in the UK. While the October timeline was set by former prime minister Boris Johnson during his India visit in April, Sunak is on the record expressing his commitment to an FTA with India while Chancellor of the Exchequer at No. 11 Downing Street. He has flagged financial services as a particularly exciting aspect of the bilateral trade relationship and pointed to enormous opportunity for both countries in fintech and the insurance sector. I'm very supportive of India playing an increasingly influential role in the region, and indeed, in the world as a massive economy and the world's largest democracy and an FTA would prove a greater champion of that cause, Sunak told reporters back in July. Financial service is an area ..

UK court to hear Uyghur demands to ban import of Xinjiang cotton products

A Uyghur organization and a human rights group are taking the UK government to court to challenge Britain's failure to block the import of cotton products associated with forced labour and other abuses in China's far western Xinjiang region. Tuesday's hearing at the High Court in London is believed the first time a foreign court hears legal arguments from the Uyghurs over the issue of forced labor in Xinjiang. The region is a major global supplier of cotton, but rights groups have long alleged that the cotton is picked and processed by China's Uyghurs and other Turkic Muslim minorities in a widespread, state-sanctioned system of forced labour. The case, brought by the Munich-based World Uyghur Congress and the Global Legal Action Network, a nonprofit, is one of several similar legal challenges aimed at putting pressure on the U.K. and European Union governments to follow the lead of the United States, where a law took effect this year to ban all cotton products suspected of being mad

Sunak's promises to keep: Ex-chancellor's likely agenda when he becomes PM

Managing welfare spending while promoting business will be among his top tasks if he wins leadership contest

'Our Obama moment': UK Hindu temple leader on Rishi Sunak becoming PM

Rishi Sunak becoming UK's Prime Minister is "our Barack Obama moment", said leader of the Hindu temple set up by the Indian-origin leader's grandfather

Sunak's prize for predicting Truss chaos: He gets to clean up the mess

Just seven weeks after Truss traveled to meet Queen Elizabeth II to become premier, Sunak will meet King Charles III on Tuesday to formally replace her

Rishi Sunak expected to keep Jeremy Hunt as he readies new UK cabinet

The incoming premier will formally take over from Liz Truss following a meeting with King Charles III, before addressing the nation and appointing members of his cabinet

Rishi Sunak to be UK's first Indian-origin PM as his rivals quit the race

Youngest to the post in 200 years + Warns UK faces 'profound economic challenge' + FTSE 100 rises .6%

Karnataka CM Bommai congratulates UK's Indian-origin PM-elect Rishi Sunak

Karnataka Chief Minister Basavaraj Bommai on Monday expressed his happiness over Rishi Sunak, a person of Indian origin set to become the Prime Minister of the United Kingdom. Talking to reporters in Shiggaon, Bommai said the British ruled India for over 200 years and they would have never expected such a big development. Today, Indians are on all fronts and have got elected as MPs in several countries. Now, Rishi Sunak has got elected as the new Britain PM. The wheel of fortune has turned completely, he opined. In a series of tweets, former Karnataka Chief Minister H D Kumaraswamy too congratulated Sunak, who is set to become the UK prime minister. "Hearty congratulations to Sri @RishiSunak, senior Conservative party leader & Britain's Prime Minister elect. He is connected to our Karnataka. I am overwhelmed with the election of Sri Rishi Sunak, son-in-law of Infosys founder Sri N R Narayanamurthy & Smt Sudha Murty," Kumaraswamy tweeted. "I am confident that Sri Rishi Sunak ...

Proud moment that UK will have Indian-origin PM, says Mehbooba Mufti

PDP president Mehbooba Mufti on Monday said it was a proud moment that Indian-origin Rishi Sunak was elected as the Prime Minister of the United Kingdom The former Jammu and Kashmir chief minister said while India rightly celebrates Sunak's elevation, it should also serve as a reminder that the Britain has accepted an ethnic minority member as its premier but we are still shackled by divisive and discriminatory laws like NRC and CAA." National Conference leader Omar Abdullah, who has a British mother, did not comment on the development but retweeted a tweet by George Osborne, the former chancellor of the Exchequer in the UK. "Rishi Sunak will be Prime Minister by the end of the day. Some think, like me, he's a solution to our problems; others think he's part of the problem. But whatever your politics, let's all celebrate the first British Asian becoming PM and be proud of our country where this can happen," Osborne said.

British Prime Minister-elect Rishi Sunak promises 'stability and unity'

Indian-origin Rishi Sunak, who will take over as Britain's prime minister from Liz Truss, on Monday promised stability and unity as his priority. The former chancellor, who won Tory leadership contest on Monday, is poised to walk through the door of 10 Downing Street in London after an audience with King Charles III in Buckingham Palace, which is likely to be on Tuesday. Besides being the first Hindu Prime Minister of Indian heritage, Sunak is also the youngest for around 200 years at 42 years. In his first address as Tory leader soon after the result was declared, Sunak said his priority would be to bring the country together and said he was "humbled and honoured" to get the greatest privilege of his life to give back to the country I owe so much. "The UK is a great country, but there is no doubt we face a profound economic challenge," said Sunak from the Conservative Party headquarters near Parliament in London. "We now need stability and unity and I will make it my utmost priori

Suella Braverman supports Rishi Sunak as 'unity' candidate for UK PM

Britain's recently-resigned Home Secretary Indian-origin Suella Braverman on Sunday came out in support of Rishi Sunak to replace outgoing Prime Minister Liz Truss as the candidate who can provide unity, stability and efficiency to the governing Conservatives. In a boost to frontrunner Sunak and a blow to former prime minister Boris Johnson's expected bid for Tory leadership, the former minister with significant support on the extreme right of Tory party said Johnson was no longer the best choice for the party or the country. Her intervention comes just days after her dramatic exit from Cabinet over a breach of the ministerial code and a scathing attack on Truss' leadership. We need unity, stability and efficiency. Rishi is the only candidate that fits the bill and I am proud to support him, she writes in The Daily Telegraph newspaper. I have backed Boris from the start. From running alongside him in London in 2012, to supporting him to be our leader in 2019 and willing him to succ

Rishi Sunak crosses minimum nomination threshold to contest in UK PM race

Rishi Sunak is quick off the mark to bid for the leadership of the Conservative Party and the British Prime Ministership having secured more than a hundred nominations

Rishi Sunak leads MP support, over halfway to threshold: Report

British minister Penny Mordaunt on Friday launched her bid to replace Liz Truss as prime minister, becoming the first Conservative lawmaker to announce they are running.

Boris Johnson, Rishi Sunak lead race to become UK's next prime minister

Boris Johnson and former finance minister Rishi Sunak were leading the potential contenders to replace British Prime Minister Liz Truss

Zara enters pre-owned clothing biz, offers repair, resale & donation svces

Zara is moving into the business of pre-owned clothing as the Spanish brand starts offering services for repair, resale and donations in the UK

Irish PM urges UK to support peace, stability in Northern Ireland

Irish Prime Minister Micheal Martin called on the British government to work together to support peace and stability in Northern Ireland (NI).