SPLASH DOWN! ‘Oops – that didn’t go so well again, but it got a little bit further this time!’

Failed missile test

MOD missile test flops as £17 million weapon plops into sea

The Trident missile test is a routine exercise of the UK’s nuclear deterrent, which involves firing an unarmed missile from a submarine into the Atlantic Ocean

However, the latest test failed when the missile’s booster rockets didn’t function correctly and plopped into the sea near the launch site. 

This is the second time in a row that a Trident missile test has failed, raising concerns over the reliability and safety of the UK’s nuclear weapons system. The defence secretary and the head of the navy were on board the submarine HMS Vanguard when the test went wrong. 

Deterrent remains a safe option…?

The Ministry of Defence said the nuclear deterrent remains ‘safe, secure and effective’ and that the issue was specific to the test and would not affect a real launch. So that’s reassuring to hear then.  

However, some critics have called for an inquiry into the incident and questioned the need for spending billions of pounds on renewing the Trident programme.

This is highly embarrassing for both the UK and the U.S. and for the manufacturer of the Trident missile.

Famous London landmark sold to U.S. bidder

Iconic BT Tower

British telecoms group BT said Wednesday 21st February 2024 that it had agreed to sell London’s iconic BT Tower – once an important piece of network infrastructure

It has been sold to developer MCR Hotels for £275 million ($346.6 million).

The 189-meter structure has loomed over the capital city’s central Fitzrovia since 1965, when it opened as the Post Office tower.

It carried telecommunications signals from London to the rest of the country, but its microwave aerials were made redundant more than a decade ago.

It was also known for a revolving restaurant on its 34th floor, which took 22 minutes to complete a rotation.

MCR Hotels owns 150 properties, including the TWA Hotel located in the former TWA Flight Centre at JFK International Airport in New York, USA.

UK posts record budget surplus in January 2024

Red brief case

The U.K. logged a record £16.7 billion net budget surplus in January 2024, according to official figures released on Wednesday 21st February 2024

The Office for National Statistics noted that the country’s public finances usually run a surplus in January, unlike during other months, as receipts from annual self-assessment tax returns come in.

Combined self-assessment income and capital gains tax receipts totaled £33 billion in January, the ONS noted, down £1.8 billion from the same period of last year.

Total government tax receipts came in at a record £90.8 billion, up £2.9 billion compared to January 2023.

Government borrowing during the financial year spanning to the end of January 2024 was £96.6 billion, £3.1 billion lower than over the same 10-month period a year ago and £9.2 billion lower than the £105.8 billion previously forecast by the independent Office for Budget Responsibility.