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The UK government has been in something of a bind. As the cost of its borrowing has risen since the autumn, the chances of meeting its main self-imposed fiscal rule — to borrow only for investment by the end of the decade — have dwindled. The setback has been met with fierce rhetoric from the government. Whether from Prime Minister Sir Keir Starmer, Rachel Reeves, his chancellor, or their spokespeople, the adjectives to describe the fiscal rules have tended to shuffle between “ironclad” and “non-negotiable”. Their attitude is always “absolutely committed”.

Sentiment has improved in UK government bond markets over the past week, but many are yet to be convinced. Ray Dalio, the billionaire founder of hedge fund firm Bridgewater Associates, is less than impressed, saying that gilts could be heading for a “death spiral”. Of course, this was overblown, but his comments reflect a broader concern in financial markets that a gap exists between tough fiscal rhetoric and the reality of UK budgetary policy — and it far precedes the current Labour government.

What is needed to provide the budgetary stability on which the rest of the UK economy can build is therefore simple. No more rhetoric. No more announcements of tighter fiscal policy either now or some time in the future. Instead, Reeves needs to implement the tax increases and spending plans outlined in October without any compromise on when they are due to come into force in April.

These are sizeable. Along with the large and messy increase in employers’ national insurance, there are continued income tax rises in the form of frozen allowances and far from lavish public expenditure increases. Together, the measures are set to reduce government borrowing significantly. The overall deficit is forecast to fall from 4.5 per cent of GDP in 2024-25 to 3.6 per cent in 2025-26, while the current budget deficit, excluding capital investment, is set to halve from 2 per cent of GDP to 0.9 per cent over the same period.

This will be an exercise in show, not tell. Reducing borrowing by this much is reasonably rare for UK governments — it will become clear by the summer whether Reeves and her policies are on track. Success would immediately demonstrate a difference between UK fiscal policy and that of similar countries.

In recent years, US administrations have shown no ability to run a deficit much under 6 per cent of GDP, and there’s no improvement in sight. The European Commission expects the French budget deficit to have exceeded 6 per cent of GDP last year, with little prospect of a political agreement to deliver much improvement. Underlying German public finances are strong, but its economy is weak. And debt levels in the UK, though high, are still far lower than those in Italy.

Bond markets often have a mind of their own, but it would be difficult to single out the UK for special punishment if it is the one decent-sized advanced country with the ability to pass legislation to impose fiscal consolidation and actually see it through. This is what Reeves must do. If growth suffers, the Bank of England would be in a strong position to ease monetary policy and offset the fiscal tightening.

There are no guarantees in the business of persuading financial markets that they have more to lose if they bet against you. The UK government must also hope that consumers begin to spend their recent real income gains and improve growth. It needs to demonstrate that any expansion will come with some recovery in productivity growth. And that the increases in employers’ national insurance must not have a much more damaging impact on jobs and prices than already expected.

None will be achieved with more speeches about non-negotiable commitments to ironclad fiscal rules.

chris.giles@ft.com

In 2015, the blogging site Tumblr launched a GIF discovery feature called Tumblr TV as an experimental product. Now, with the U.S. TikTok ban leaving the fate of the short-form video app uncertain, Tumblr has decided it’s finally time to launch Tumblr TV, which has since evolved to support video, to all its users as one of its standard features.

The company on Tuesday announced the product’s graduation from its experimental projects home known as Tumblr Labs, explaining how the tab would become available to everyone. New users will see the tab in a fairly prominent third position in the app. Meanwhile, existing users will be able to toggle Tumblr TV on or off in their Dashboard Tabs configuration settings, Tumblr said.

The decision to promote the video product from an experiment to a core feature nearly 10 years after its creation has a lot to do with the demand for TikTok alternatives in the wake of the U.S. law that banned the app and others with Chinese ownership in the country.

Though enforcement of that ban is currently on hold after President Trump’s intervention, it’s still unclear whether TikTok will agree to a deal — despite its many suitors — to keep the app live in the U.S. after the 75-day deadline extension is up.

Like many apps, Tumblr noted it saw a surge of users joining its service on the day of the TikTok ban on January 19, a company spokesperson told TechCrunch. As a result, the blogging service saw a roughly 35% increase in iOS app installs and a 70% increase in new users joining Communities, a feature that allows users to join various groups focused on specific interests.

In fact, some newcomers even established Tumblr Communities, like TikTok Repository, aimed at those who wanted a place to back up and share their TikTok videos. Another Community, TikTok Refugees, was active with both new and returning users, the company said.

As a competitor to TikTok, however, TumblrTV falls short. Though the company made many improvements while the service was a Labs feature — including the addition of lightbox support, improved scrubbing, and video support — the final product doesn’t feel all that much like TikTok, where original creator content dominates.

Tumblr’s video feed does allow for vertical swipe-based navigation within its channels (like Art or Sports) when viewed on mobile, similar to TikTok. But the GIFs featured in this full-screen viewing mode are naturally grainy, while many of the videos featured aren’t formatted for vertical viewing because they were never recorded for a vertical video app in the first place.

Still, the company hopes that a video feed could make TikTok users feel a little bit more at home if they decide to move to Tumblr.

Of course, with TikTok back online in the U.S. for the time being, the demand for a backup app is likely waning.

Crypto experts narrow down the best altcoin to hold from Sui, Toncoin, Stellar, and the rising star, Remittix.

Choosing the right altcoin is crucial for making significant gains. With hundreds of options available, it can be difficult to choose. This is where experts come in. These experts have been buzzing about four major players Sui, Toncoin, Stellar, and Remittix.

Remittix is gaining much attention because of its vision of bridging the gap between crypto and fiat with ease and transparency. Still in its presale phase, Remittix has raised close to $4.8 million, with experts predicting a 100x surge.

What makes Remittix stand out

Remittix is differentiating itself in a competitive market by emphasizing practical utility. The platform wants to transform the management of cross-border payments.

This is what makes it unique:

• Fiat-to-crypto simple conversion: Convert more than 40 altcoins into fiat instantly and transfer the funds straight to any bank account in the globe.
• Clear fees: No guesswork, no hidden fees. What is sent is exactly what the receiver gets.
• For businesses and freelancers: Businesses will have complete control by accepting cryptocurrency payments and settling in fiat thanks to the “Remittix Pay” API.
• Privacy: Cryptocurrency can be sent via Remittix without disclosing where it came from.

Because of these features, Remittix is positioned as more than an altcoin. It is a useful tool for those wishing to combine the advantages of cryptocurrency with the comforts of regular banking.

Comparing Sui, Toncoin, and Stellar

Sui

Sui is a scalable Layer-1 blockchain that has gained popularity for its developer-friendly ecosystem. Because of its own programming language, Move, it has become popular for DeFi applications.

Toncoin

Toncoin serves as the foundation for the Telegram Open Networks. It’s a fantastic ecosystem for decentralized apps, payments and communications. However, Toncoin’s growth potential is closely linked with Telegram’s performance.

Stellar

Stellar has been in business for years and is well-known for its cross-border payment solutions. It has cemented its position in the cryptocurrency market through its collaborations with financial institutions.

Why Remittix wins

Although each of the three tokens has advantages,  Remittix looks to offer a higher degree of transparency and ease of conversion. Remittix has also passed through a smart contract audit to guarantee its security and transparency. The cryptocurrency is expected to develop rapidly after its debut, with intentions to list on Uniswap and large centralized exchanges.

Conclusion

Although Sui, Toncoin, and Stellar provide intriguing opportunities, Remittix stands out.

Its features could solve problems that other cryptocurrencies ignore and its presale updates demonstrate its growth trajectory. Remittix seeks to provide something special for both novice and experienced cryptocurrency investors: maximum profits with the least amount of hassle.

For more information on Remittix, visit their website or socials.