Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Local Syrian sources: An Israeli airstrike targeted a tank and artillery battalion in the city of Izraa in the Daraa countryside
Al Mayadeen's correspondent in eastern Lebanon: 12 martyrs and 5 wounded in Israeli raids targeting the outskirts of Wadi Fa'ra in the northern Bekaa Valley
Local Syrian sources: More than 10 Israeli raids targeted Sweida, with information about more than five casualties from the Internal Security Forces
Local Syrian sources: Initial reports indicate that approximately 15 people were killed or wounded at the al-Radwan family's guest house in Sweida following a direct exchange of gunfire
Israeli media, citing Israeli political sources, reported that the Shas movement is expected to withdraw from the government within less than 24 hours
Qatari Foreign Ministry: Negotiations to reach a ceasefire in the Gaza Strip are still in the first stage. We are continuing our efforts around the clock
Channel 14, citing a senior Israeli political source, reported: The attacks in Syria and Tel Aviv's offensive policy are coordinated with the Americans
Lebanese Ministry of Health's Emergency Operations Center: Six injured as a result of Israeli airstrikes on the Bekaa Valley in eastern Lebanon
Israeli media: The Israeli Air Force has launched a wave of large-scale attacks on southern Syria
UNRWA: One in 10 children in Gaza suffers from malnutrition

Brexit cost penalty worth £29 bln on UK productivity: Bank Of England

  • By Al Mayadeen English
  • Source: Agencies
  • 14 Feb 2023 16:25
  • 1 Shares
3 Min Read

Since the onset of the energy crisis, the central bank has been printing excessive amounts of money which has been causing much inflation and created the cost of living crisis.

  • x
  • Buses drive past Liverpool Street station, in the financial district known as The City, in London, Friday, Oct. 7, 2022  (AP Photo/Alberto Pezzali)
    Buses drive past Liverpool Street station, in the financial district known as The City, in London, Friday, Oct. 7, 2022 (AP Photo/Alberto Pezzali)

The Guardian reported on Monday, citing financial sources, that the UK recorded losses worth £29 billion in its overseas investments, which is the equivalent of roughly £1,000 per household. 

Ever since the UK Brexit the EU single market, private sector investment had  "stopped in its tracks", according to a study conducted by Jonathan Haskel, an external member of the Bank of England's monetary policy committee who is responsible for setting national interest rates. 

The study is likely to raise concerns that the Brexit vote and the strategy adopted by former prime minister Boris Johnson to leave the EU single market and customs union has resulted in damage beyond repair to the British economy. 

Since the onset of the energy crisis, the central bank has been printing excessive amounts of money which has been causing much of the inflation and created the cost of living crisis.

On February 2, the Bank of England Monetary Policy Committee announced that it would increase the interest rate to 4% from 3.5%.

Related News

UK, EU reset post-Brexit relations with defense and trade pact

In defiance of Trump, UK, EU to sign ‘free and open trade’ declaration

While the Bank of England may not possess the same capacity as the US Federal Reserve to print as much money without worrying about debt or interest payments, the UK can still manage to buy some time to recalibrate its policies and solve the structural problems. 

Read more: Brexit growing less popular among Tories

In June 2016, 51.8% of UK citizens voted to end the country's membership in the EU, while 48.1% voted to remain in the union. Nonetheless, six and a half years later, the UK is still engaged in a lengthy and convoluted series of negotiations related to its exit from the EU.

UK Prime Minister Rishi Sunak's plan to repeal thousands of EU laws by the end of 2023 could spark a full-fledged trade war between London and Brussels, according to senior European Union officials.

Meanwhile, EU leaders are said to be secretly planning their own "unilateral rebalancing measures" in Brussels. These measures could include the option of imposing tariffs on UK goods entering the EU single market, according to media reports.

All of this could result in a trade war with the EU and serious economic damage to the UK.

Read more: UK settles trade dispute by paying £2.3bn to EU

  • Brexit
  • Bank of England
  • inflation
  • UK

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025
This satellite image from Planet Labs PBC shows damage after an Iranian attack at the al Udeid Airbase outside of Doha, Qatar, June 25, 2025 (Planet Labs PBC via AP)

Satellite images show Iran attack damaged US comms dome in Qatari base

  • Politics
  • 11 Jul 2025
An Israeli soldier abandons an excavator during an ambush by al-Qassam Brigades. Arabic text reads "The moment the soldier fled", July, 10, 2025 (Al Qassam Military Media)

Israeli media rue al-Qassam footage, alarmed by fighters among troops

  • Politics
  • 11 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Al Mayadeen: UN Palestine Inquiry members reportedly resigned
Politics

Exclusive: UN Palestine Inquiry members reportedly resigned

Rutte, Trump
US & Canada

Trump threatens 100% secondary tariffs on Russia, sets deadline

Syrian government soldiers on a motorcycle pass by a burning tank on the outskirts of Sweida city, where clashes erupted between the Druze community and Bedouine clans, in southern Syria, Monday, July 14, 2025 (AP)
Politics

Israeli airstrikes target Syrian military factions near Sweida

Lebanon, US, disarmament
MENA

US pressure on Lebanon grows over Resistance disarmament plan

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS