Major study finds Brexit ‘left long-term scars’ on UK
A University of California study highlights the long-term damage caused by Brexit and austerity measures on the UK’s economic growth and social cohesion. The report calls for urgent action from the incoming government to address setbacks since the 2008 financial crisis. Political scandals, such as rule-breaking during the pandemic, have intensified public discontent and eroded trust in UK institutions. The study warns of interlocking crises for the next government, including signs of stagnation, particularly in addressing social and economic challenges. The report predicts a potential historic defeat for the Conservatives in the election and a challenging path for Labour to restore public trust and economic stability. Labour’s pledges include fiscal discipline, housing and infrastructure reforms, and clean energy investments. The study concludes that austerity and Brexit have left lasting scars on the UK economy, urging the government to prioritise regional planning and recovery.
HSBC joins other banks in cutting mortgage rates
HSBC has joined Barclays and NatWest in reducing mortgage rates after hints of a summer base rate cut by the Bank of England. HSBC’s new rates took effect on 26 June, with more lenders expected to follow. However, borrowers still face high costs, and average mortgage rates have been rising due to a lack of competition during the election campaign. A commentator notes that the recent rate increases are now being unwound in small steps. Fixed mortgage rates remain constant until the deal expires, after which borrowers must choose a new rate or default to a more expensive variable rate. Around 1.6 million borrowers have expiring fixed-rate deals this year. The Bank of England may cut rates at its next meeting on 1 August, influencing recent lender moves.
‘Alliance’ priests threaten to split CofE over same-sex blessings
A group of church leaders is taking a stand and threatening to split the Church of England over a vote on blessings for same-sex couples. Bishops have proposed trial standalone church services for gay and lesbian couples, pending a formal vote on making the change permanent. Over 25 church leaders have written to the Archbishops of York and Canterbury, warning that such a change could be 'unlawful' and claiming that the proposal departs from the Church’s doctrine. While priests can offer blessings within services, standalone services for same-sex blessings are not yet permitted, as some argue it equates to same-sex marriages. The General Synod will debate the issue next week. The Alliance, a conservative group supported by 2,000 clergy members, prepared the letter. It warns that further departure from the Church’s doctrine will force them to establish a new 'parallel province'.
Jay Slater: search continues as conspiracy theories escalate
The search for 19-year-old Jay Slater, missing since 17 June, continues in Tenerife with a multi-agency effort marked by silence from authorities. Despite the intense search in the rugged terrain of the Rural de Teno national park, involving the Civil Guard, specialist sniffer dogs, and drones, agencies have been reluctant to comment, fuelling online conspiracy theories. The operation, initially sprawling, has now focused on a specific ravine with a water source. Officers start their search at 8 am, navigating difficult terrain with special equipment. Weather conditions have varied, complicating the search efforts. As each day ends without answers, the lack of updates adds to the anguish of Jay's loved ones, who continue to wait for news. His family remains hopeful; his mother, Debbie Duncan, is urging the public to pray for her son and expressing faith in the search teams.
