Recently, the news of local ** bankruptcy in the United Kingdom has been continuous, which has caused huge concerns about the British economy. The latest news is that Nottingham local** is effectively bankrupt due to a £23 million overspending. Previously, in September this year, Birmingham, the second largest city in the United Kingdom, had declared bankruptcy, leaving the British economy in a dire situation. According to the UK Local Association, around 90% of the UK is currently having to tap into its fiscal reserves to stay afloat. Even more worrying is that a further 26 places** are expected to be at risk of bankruptcy over the next two years.
This situation has made the British public question Prime Minister Sunak, who is the chancellor of the exchequer. Recently, Sunak has been frequently criticized by British politicians, and even triggered the voluntary resignation of the minister in charge of immigration affairs to ** Sunak's mistakes in immigration policy. Not only that, but in November, Sunak also faced an investigation into how he dealt with the negative economic impact of the coronavirus pandemic when he was chancellor of the exchequer in 2020. The British "Politico"** even bluntly said: Sunak has had his worst week.
Recent opinion polls show that the British public is increasingly dissatisfied with Sunak's policies. In the survey, only 24% of the public supported Sunak's policies, while 52% opposed him. By comparison, the January survey showed that 30 per cent of the population supported Sunak and 39 per cent opposed him. These figures show that Sunak's image in the eyes of the British public is declining rapidly.
Sunak has been targeted by domestic attacks in the UK largely because he has failed to take effective policy measures in the face of persistently high inflation and deteriorating economic conditions. Since becoming British prime minister last October, Sunak does not seem to have made a strong impression beyond his Indian identity. He almost won the premiership, and the other candidates withdrew one after another, which seemed to indicate that Sunak was destined to take on the role of "scapegoat". However, since taking office, Sunak has followed in the footsteps of US policy, particularly in stepping up aid to Ukraine and showing a tough stance on China.
However, these two decisions did not bring real benefits to Britain, but instead cut Britain off its own way out. There is no doubt that Russian energy and the Chinese market are the two pillars of Europe's economic development. But Sunak's decision to show loyalty to the United States has made it even more difficult for Britain to abandon these two key areas. At the same time, the United States has adopted a much smarter strategy. Recently, US aid to Ukraine has significantly decreased, and there have even been signals of negotiations with Russia. After the meeting between the leaders of China and the United States, Sino-US relations began to warm up. In contrast, Sunak appears to be passive in this regard. He had to hastily appoint former Prime Minister David Cameron, who had created an "era" of Sino-British relations, as foreign secretary, and changed his previous position, bluntly saying that "if we do not cooperate with China, the biggest problem in the world will not be solved."
However, superficial work alone does not solve the problem. Although Sunak may not be able to push for real action now, even if he has the will. His hardline stance on China will ultimately put Britain in jeopardy, and the future of the UK is hugely uncertain.
Britain's imminent bankruptcy and the criticism Sunak faces are a huge challenge for the British economy, but at the same time an opportunity. In the face of economic difficulties, the UK** needs to adjust its policies in a timely manner, take measures to stabilize the situation, and restore economic confidence.
First of all, the UK should strengthen its internal unity, fully listen to the opinions of all parties, and form a consensus. As prime minister, Sunak needs to conduct extensive discussions and consultations with politicians, experts and scholars from all sides to jointly formulate targeted and feasible policy plans. At the same time, we should make decisions transparent, increase information disclosure to the public, and increase people's trust in policies.
Second, the UK should actively promote structural reforms in the domestic economy. Increase investment in scientific and technological innovation, optimize the industrial layout, enhance the core competitiveness of the industry, and promote the transformation of the British economy from traditional manufacturing to high value-added service industries. At the same time, we will strengthen support and support for small and micro enterprises, create a better business environment, and attract more investors and entrepreneurs.
In addition, the UK** should also actively carry out foreign cooperation to expand its international market share. Although Sunak has previously taken a tough stance on China, he has now fallen behind. Cooperation with China is undoubtedly one of the important ways for the UK economy to recover. ** We should promote economic and trade exchanges and cooperation between China and the UK, strengthen cooperation between the two sides in the fields of science and technology, finance, education, etc., and provide more business opportunities and markets for British enterprises.
Finally, the UK should strengthen the provision of public services, pay attention to people's livelihood, and improve people's satisfaction. Increase investment in education, medical care, social welfare and other fields to improve people's quality of life, reduce social injustice, and enhance social cohesion. Only in this way will we be able to stabilize the domestic situation and create a favorable social environment for economic recovery.
Overall, the UK is facing severe economic distress at the moment, but there are also opportunities. By adjusting policies, strengthening domestic and foreign cooperation, and paying more attention to people's livelihood, the UK is expected to get out of the predicament and achieve long-term economic prosperity and sustained social progress. However, this requires the UK** and its leaders to take serious and effective action to deliver a better future for the country and its people.