The UK is set to be the developed country that suffers the most economic damage from the pandemic, according to new statistics.
Data released by The Organisation for Economic Co-operation and Development (OECD) shows that the British economy is expected shrink by as much as 11.5% in 2020.
The forecast puts the UK at the top of the pile for worst-affected nations, revealing that France and Italy will also be dealt severe financial blows as their economies contract by 11.4% and 11.3% respectively.
Germany’s decline in national income (GDP) is set to be 6.6% in 2020, while Spain’s will fall by 11.1%.
The OECD has warned that the world is set for the “most severe economic recession” in almost one hundred years.
In the event of a second-wave lockdown, the UK economy could contract by a record-breaking 14%.
Laurence Boone, the OECD’s chief economist, said: “Governments must seize this opportunity to engineer a fairer and more sustainable economy, making competition and regulation smarter, modernising government taxes, spending, and social protection.
“Prosperity comes from dialogue and cooperation. This holds true at the national and global level.”
Question Time audience stunned as first-time buyer says mortgage quote DOUBLED
Thursday night’s Question Time audience could be heard audibly gasping after a fellow crowd member revealed that her mortgage quote had doubled followed the recent mini-budget.
Taping in Manchester on 29 September, the current events and politics programme was discussing property when would-be first-time buyer Rabia revealed that her mortgage offer had jumped from an initial amount of 4.5% interest to a shocking 10.5% in just a matter of days.
As you can see in the incredible clip, both the audience and the panel are taken aback at the revelation.
The Greater Manchester resident said she is desperate to know what the government’s plan for mortgages is as following the latest revision, she says she simply cannot afford to put the money down on her first home.
Labour leader Sir Keir Starmer weighed in on the social media reaction, quote tweeting the clip from his party’s own account and stating that “the Tories must get back to Parliament and reverse their kamikaze budget” as the current economic mess is being “paid for by working people”.
To make matters worse, Rabia was given no clarification from her lenders, only that they were pulling her offers. Conservative MP and Minister for Local Government, Faith and Communities, Paul Scully had little information to offer her either, simply stating it is a short-term effect and that the market will stabilise.
Scully was subject to an entirely different reaction from the audience as well after his blind attempts to defend Prime Minister Liz Truss and Chancellor Kwasi Kwarteng were met with laughter. Conversely, Richard Bacon was met with applause after he labelled the mini-budget “absurd”.
As if the anti-Tory sentiment wasn’t already at a high, the chancellor’s mini-budget – which saw the corporations, bankers and the generally wealthy benefit ahead of the working class – has seen fresh calls for a general election to be held as soon as possible.
Beyond declaring a so-called £2,500 limit on energy bills (which many have warned isn’t a guaranteed cap), there was seemingly very little in the way of policy that
For those still unclear as to what was announced in the divisive mini-budget, here is a quick summary:
Speaking in a speech at the Labour conference in Liverpool on Tuesday, Starmer said that the government “haven’t just failed to fix the roof, they’ve ripped out the foundations, smashed the windows and now they’ve blown the doors off for good measure.
The new restaurants and bars opening in Manchester this month | October 2022
Another month, another round of new openings – and there’s plenty to get stuck into.
Whether you’re into glitzy late-night hang outs, casual dining turnarounds or award-winning burritos, let’s just say there’s something on the list for you this October.
From the brand new Shogun Ramen and Bar, which sees beloved Chorlton restaurant Peck & Yard give it ‘one more shot’ with a ramen and sushi concept, to Mayfair celeb haunt Mnky Hse, keep reading to discover where to put on your list this month.
Shogun Ramen and Bar
Fans and staff alike were heartbroken when Chorlton restaurant Peck & Yard announced it was closing its doors for good in August, so we’re all happy to see the team return under a new guise.
Switching from baskets of fried chicken to steaming bowls of ramen and handrolled sushi, bosses will try something entirely new as they delve into the world of Japanese cuisine.
The concept is something they had originally considered before opening Peck & Yard, and they said that “with the times we’re in” they thought “why not go back to the original idea and give this one last shot”.
Soft launch 1 October from 5pm, open from 6 October.
Late-night bar and restaurant Mnky Hse (pronounced “monkey house”) is set to be taking over a space in Lloyd House this month.
First opened in Mayfair, London, in 2016, it will be the second UK site for the restaurant and its first in the north of England when it opens its doors this September.
Known for its ‘hidden entrance’, Instagram-friendly interiors, live music, extensive cocktail menu and Latin American dishes, here you’ll find a great range of tacos – both soft and crunchy – alongside a range of sushi, ceviche and grill dishes.
Tortilla, Oxford Road
Mexican food chain Tortilla has arrived in Manchester, bringing a new burrito shop to the Oxford Road student stretch this month.
Offering a range of award-winning burritos, nachos and tacos, you’ll also find quesadillas, chips and salsa, salad bowls and more on the menu.
A new arrival in Longridge, Fell Bistro comes from former Masterchef the Professional finalist Oli Martin who previously spent eight years at four AA rosette restaurant Hipping Hall.
With head chef Rikki Hughes, previousl of Tom Kerridge’s Michelin pub The Hand and Flowers in Marlow, heading up the kitchen we expect great things.
The menu offers a selection of classic dishes with their wood fired oven and grill featuring prominently. Elsewhere, find hearty Sunday lunches and light bites.
Bread and Bowl, Spinningfields
There are carb overloads, and then there is Bread & Bowls‘ Full English breakfast in a hollowed-out loaf.
First launched in February 2020, these ginormous loaves of sourdough – stuffed with fry-up favourites like high-grade local sausages, crispy streaky bacon, beans, cheese, mushrooms, grilled tomatoes and hash browns – became something of a hungover lockdown sensation.
Now, you can find them at the new Spinningfields coffee shop 92 Degrees, housed inside the no.1 Spinningfields building Served between 8am and 4pm every day.
Bold Street Coffee, Oxford Road
Liverpool-born Bold Street Coffee has just opened its second shop here in the space of a few months.
Moving into the universities territory, the new site is found at University Green just off Oxford Road.
Serving the same menu as its Cross Street site, head down for egg boxes, signature BSC frys, and hearty bowls of super porridge and granola.
Feature image – Federal / Tortilla / The Manc Eats