Browsing: billion

With the Autumn Budget just days away, concerns are mounting across all sectors about the rising cost of living and its impact on businesses and entrepreneurs. Health Secretary Wes Streeting has warned of “difficult and big choices” ahead, while Shadow Chancellor Rachel Reeves faces the challenge of addressing a £14 billion deficit in the budget. As the government prepares for this critical financial announcement, there is growing consensus that the budget must go beyond short-term investments and deliver comprehensive reforms across all sectors. Sustainable spending solutions and future-proofing measures have never been more urgent. Businesses are particularly anxious about how…

The U.S. International Development Finance Corporation (DFC) announced it has committed a record $12 billion in investments for the fiscal year 2024, focusing on projects designed to improve living conditions and spur economic development across the developing world. The funds are aimed at expanding access to essential resources such as food, energy, healthcare, and infrastructure in regions spanning Africa, Latin America, the Indo-Pacific, and the Middle East. In 2024 alone, the DFC supported projects in 44 countries and now boasts a portfolio encompassing over 110 nations. This year’s new commitments are projected to benefit hundreds of thousands worldwide, financing 450,000…

A recent report by the Scotch Whisky Association (SWA) has revealed that Scotch whisky played a crucial role in the UK economy in 2022, contributing £7.1 billion. The report highlights a significant increase of 29% in whisky’s economic contribution since 2018. Scotland, the heartland of Scotch whisky production, benefited from a £5.3 billion boost, representing approximately 3% of Gross Value Added (GVA). Scotch whisky constituted a major share of Scotland’s food and drink exports, contributing 77%, and accounted for 26% of the UK’s overall exports in this category. Despite challenges such as retaliatory tariffs in the United States and the…