War in Ukraine UK Economy

By: George Koutrouvelis ‘25 Contributor

The one-year anniversary of the war in Ukraine marks a somber milestone in a conflict that has claimed the lives of thousands of people and displaced millions. When Mr. Putin first launched what he called a “special military operation,” he assumed the whole ordeal would only last a total of three days. Now one year later, his senseless war still rages on with no definite end in sight. It is a conflict that has not only ravaged Ukraine and its citizens but the world; however, to fully understand the scope of Russia’s invasion, it is important to go back and understand a timeline of events surrounding the entire ordeal. The initial event began on February 24, 2022, when Russian forces invaded Ukraine, attempting to take Kyiv. In March, Russian attempts to capture Kyiv failed, causing mass graves of civilians to be found in Bucha. May marked the surrender of Mariupol to Russian forces after heavy artillery had killed thousands. In July, Lysychansk, the last city under Ukrainian control in Luhansk, fell to Russia. September marked the Russian annexation of the Ukrainian regions of Donetsk, Kherson, Luhansk, and Zaporizhzhia. In November, Russian forces retreated from Kherson, and Nato promised to make Ukraine a member of the Western Alliance. Finally, January of this year was big as Germany and the US agreed to send battle tanks to aid Ukrainian forces. While I only presented a generalized timeline of events, it still shows how, through the efforts of countries’ support and determination, Ukraine and its citizens will always continue fighting for their country’s freedom. Since the initial invasion a year ago, Ukrainian forces have managed to push back most Russian advances; however, the war is far from over. Already over thirty billion in humanitarian and financial aid has been given to Ukraine, a number that will likely only increase in the coming months. Additionally, over fifty billion has been given for military assistance. This aid includes high-tech military vehicles, equipment, defenses, and drones. These are

By: Joey Bunag ‘25 Contributor

About 4 months ago, the United Kingdom was thrust into a deep recession as a result of former Prime minister Liz Truss’s disastrous economic policy. Experts around the world declared grim numbers on the future state of the economy, such as a 7% drop in household income and an economic crash that would last until 2024. However, things may not be as abysmal as predicted.

amongst the majority of the population. Additionally, Prime Minister Rishi Sunak has declared to slash inflation in half, and such declarations are looking more and more likely to happen during the summer. Lastly, energy prices have been reported to be 80% lower than they were in August, few housing repossessions have taken place, and a strong employment market still remains, all of which provide considerable optimism for the British government and people.

the actions that are pivotal for helping Ukraine, and as US citizens, it is important that we continue to lobby and support these actions. With Ukrainians still determined to fight and the war entering its second year, there are still many outcomes that can happen, and until one side gains leverage to impose terms in negotiations, the war will continue to rage on.

Despite the grim numbers and outlooks that many experts around the world had on the U.K. economy, the economy is surprisingly showing some signs of recovery. The British, despite such dark economic conditions, continue to display confidence in their economy through continued consumer activity. Many more people than predicted continue to go out and buy various goods, thus showing more stimulation in the economy than was expected. Moreover, several major businesses reported strong fourth quarter earnings, the most notable of which is Lloyds Bank, who reported a share buyback of $2.42 billion and increased their final dividends to 1.6 pence per share. Tax revenues have also been shown to be increasing as the U.K. reported a £5.4 billion surplus in public finances, implying strong income taxes

Unfortunately, despite these many signs of revival, the road to true economic recovery will still be long and hard. Although inflation is predicted to be cut in half during the summer, it is still expected to be around 5%6%, which would still contribute to a very substantial rise in prices. Furthermore, the housing market continues to look grim, with falls in prices looking unlikely and the highest rates the U.K. has seen over the past 14 years.

Overall, the British people continue to hope that Prime Minister Rishi Sunak can maintain the signs of revival that are present within the economy. The future of the U.K. still remains yet to be seen, but the recent economic data and statistics have provided the British with a spark of hope that can hopefully guide them on the road to true economic recovery.