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‘It is a complete s***storm’, says BBC veteran on the UK economy

by Blitz India Media
May 2, 2023
in world
0

LONDON: Veteran BBC journalist David Dimbleby in a discussion on the UK’s economic turmoil slammed the Liz Truss Government over decisions taken in the past week.

Talking about the economic situation in the UK, David Dimbleby delivered a rare expletive on-air. “It just seems extraordinary and I mean, it is a complete s***storm for people who are actually trying to sell abroad or back here,” he said as he discussed the economic turmoil. The former Question Time host made the comments during BBC’s Newscast podcast.

Host Adam Fleming told David Dimbleby, who was recently praised for his coverage of Queen Elizabeth II’s funeral, “I should make clear, you don’t work for the BBC, you can speak really freely.”

Adam Fleming further said to Davide Dimbleby, “You’ve definitely left the BBC haven’t you.” On Liz Truss David Dimbleby said, “We knew her quite well on Question Time over the years and it was quite an eye-opener when she became Prime Minister. But I haven’t seen anything quite so melodramatic as this. I think it stands up because I think what Kwasi Kwarteng announced was a massive change.”

Last week, in a mini budget, the UK Government announced that the top rate of income tax, which is the 45 per cent rate for earnings over £150,000, would be abolished.

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New Delhi, 13 October : India’s fintech sector raised $2.2 billion in the first nine months of 2026 (January 1, 2026–September 30, 2026), up 14 per cent from $1.9 billion in the same period a year earlier, a report said. The report from data intelligence platform Tracxn Technologies Limited said funding rounds dipped from 260 to 153, adding that the funding was concentrated in a smaller number of large late‑stage rounds, with five mega‑rounds of $100 million or more accounting for $1.1 billion or 48 per cent of total capital. The report said in the first nine months of 2026, digital lending and payments topped the category rankings, while Bengaluru accounts for over three-fifths of all capital raised. On the exit side, IPOs saw a 50 per cent uptick while overall acquisitions slowed. As many as 30 companies raised their first funding round, down 49 per cent from 59 in the previous year. Series A and later rounds totalled 77, down 31 per cent from 112. Late-stage funding (Series C+, PE, and pre-IPO) led the mix, rising 95 per cent to $1.5 billion in the first nine months of 2026 — up from $751 million during the same period in the previous year. This capital surge pushed late-stage investments to 67 per cent of total market funding, the report noted. Earlier stages experienced contractions in capital and deal counts. Early-stage funding fell 33 per cent to $668 million across 52 rounds, compared to $1 billion across 82 rounds in nine months of 2025. Seed funding fell 57 per cent to $73.8 million across 76 rounds, down from $173 million across 148 rounds. New unicorns crossed the billion-dollar threshold in an average of 7.1 years after their Series A funding. Moreover, the industry saw 3 IPOs in nine months of 2026, up 50 per cent from 2 in the previous year, alongside 11 acquisitions, down 45 per cent from 20.

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