British health minister Jeremy Hunt on Tuesday raised the possibility of holding a second referendum on the terms of Britain’s departure from the European Union, but stressed Britain “must” leave the bloc.The minister, who said he was considering runni…
Finance minister George Osborne, who ruled himself out of the race to be Britain’s next prime minister Tuesday, played a key role in warning against Brexit, heading a campaign rivals dubbed “Project Fear”.
The Daily Telegraph dubbed him the “kamikaze chancellor”, in reference to his formal title as chancellor of the exchequer, suggesting he would stop at nothing to secure a vote to stay in the EU and aid his political mentor, Prime Minister David Cameron.
He drew particular anger from eurosceptics in his Conservative party, who accused him of scaremongering — to which he countered that those wanting to leave the European Union were “economically illiterate”.
His warning in the final days that a “Leave” vote would force him to rip up his current budgetary plans, slash funding to schools and hospitals and raise taxes, prompted a rebellion among dozens of Conservative MPs who said they would block him.
After the shock result of Thursday’s referendum — a 52 percent vote to leave the European Union — Osborne, 45, remained noticeably quiet, making his first public comments only on Monday in a failed attempt to reassure jittery financial markets.
Writing in The Times newspaper on Tuesday, Osborne said he was not the right person to lead the party because of his support for the “Remain” vote.
“I fought the referendum campaign with everything I’ve got. I believed in the cause and fought hard for it,” wrote the London-born minister.
“While I completely accept the result, I am not the person to provide the unity the party needs.”
– Double downgrade –
Osborne has been finance minister since Cameron was first elected in 2010, overseeing a programme of spending cuts and tax rises intended to eliminate the budget deficit following the global financial crisis.
But he was already widely predicted to miss his target of balancing the books by 2020, and the economic shock caused by the referendum result could make his goal even harder.
Two ratings agencies on Monday downgraded Britain’s credit rating, with Standard & Poor’s removing the country’s coveted AAA status.
“The Brexit result could lead to a deterioration of the UK’s economic performance, including its large financial services sector, which is a major contributor to employment,” it said.
A shrewd political operator, Osborne worked closely with Cameron to make the Tories electable after years in opposition and has long been viewed as a potential successor, including by the prime minister himself.
Yet unlike former Labour prime minister Tony Blair and his finance minister, Gordon Brown, who were at odds for years before the latter took over, Osborne and Cameron have worked together closely.
Like Cameron, Osborne enjoyed a privileged upbringing.
His father Peter Osborne, a baronet, founded the successful Osborne and Little fabrics company.
The eldest of four brothers, Osborne attended private school in London before heading to Oxford University, where he studied modern history and was part of the hard-drinking, aristocratic Bullingdon Club.
He worked for the Conservative government and then for the party before being elected lawmaker for Tatton in Cheshire, northwest England, in 2001 — the same year Cameron entered the House of Commons.
Osborne is married to Frances, an author, and they have two children.
Mongolian pop singer and single mother Nara swapped her trademark miniskirt for a traditional “deel” to campaign in tented slums for a seat in parliament, but would-be female parliamentarians face an uphill challenge as the country goes to the polls We…
Manuel Neuer could set a German safe hands record in Saturday’s Euro 2016 quarter-final against Italy as the world champions’ bid to add the European crown.Neuer kept a fifth straight cleansheet for Germany in Sunday’s 3-0 last 16 win over Slovakia, wh…
Israeli authorities announced Tuesday they were closing Jerusalem’s flashpoint Al-Aqsa mosque compound to non-Muslim visitors after a series of clashes between worshippers and police.The decision will apply until the end of the Muslim holy month of Ram…
High levels of manganese oxides discovered by NASA’s Curiosity rover on Mars may indicate that oxygen was once abundant there. With last year’s discovery that the red planet may have been home to ancient lakes, it now seems more akin to our blue one.
Read Full Article at RT.com
Europe’s main stock markets rallied in opening deals on Tuesday, rebounding from recent Brexit-driven heavy losses despite lingering fears over the global economic fallout.London’s benchmark FTSE 100 index won 2.0 percent to 6,103.82 points, accelerati…
In a recent update, thesqua.re, a London based travel community received TripAdvisor® Certificate of Excellence for offering world-class serviced apartments and rental services in premium locations such as London, Paris and New York.
Notion Press is super proud to present you a book that is sure to move you. It’s a book that sends across a powerful message and is all set to shatter some stereotypes. Perhaps, it will end up inspiring a thousand souls who read the book, too.
The deputy editor of the Chinese Communist party’s top theoretical journal has committed suicide, reports said, sending speculation swirling over political infighting, freedom of thought and corruption.Zhu Tiezhi, 56, a well-known essayist on party the…
Mexico’s police and armed forces routinely torture and mistreat women, sometimes using sexual violence during arrest and interrogation, Amnesty International wrote in a damning report released on Tuesday.The rights group interviewed 100 women who repor…
Britain’s controversial break from the EU has invigorated a movement in Australia that aims to split from the monarchy. Supporters of the idea have bombarded Twitter with #Ausexit hashtag since the stunning Brexit vote.
Read Full Article at RT.com
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