All posts tagged: 1.6bn

The global mega-city with a £1.6bn secret hidden underground | World | News

The global mega-city with a £1.6bn secret hidden underground | World | News

A global mega city visited by millions of people every year hides a £1.6bn secret beneath the surface in the shape of a massive underground ‘cathedral’ most people never get to see. As deep underground as one-and-a-half Nelson’s Columns, the Metropolitan Area Outer Underground Discharge Channel (MAOUDC) in Tokyo, Japan, is the largest of its kind in the world. The massive cavern-like space has been likened to a place of worship because of its rows and rows of cathedral-like 200-foot-tall columns which tower above guests during visiting hours. In a way, the huge concrete structure does answer the prayers of some citizens of Tokyo because it has stopped vast areas in the north of the city being flooded each year. The flood diversion system is put into action when the frequent typhoon storms hit Japan bringing torrential rainfall which can overwhelm Japan’s capital city. At full capacity the MAOUDC can pump 200 tonnes of water per second into the Edo River and away from homes and businesses. When not full of water the chamber is …

Labour’s ‘back-of-a-fag packet’ plan to slap VAT on independent schools could cost £1.6bn | Politics | News

Labour’s ‘back-of-a-fag packet’ plan to slap VAT on independent schools could cost £1.6bn | Politics | News

Labour plans to slap VAT on independent school fees could actually cost £1.6billion, rather than deliver a tax dividend, a damning new analysis has indicated. A new report published by the Adam Smith Institute suggests that applying the levy risks raising no money at all – and could even backfire in spectacular fashion. The report also finds that the policy risked harming other children by creating a mass exodus to the already overwhelmed state system, intensifying competition for the country’s best state and grammar schools. It also highlighted the risk of reduced bursary and scholarship opportunities for talented youngsters. The analysis, by the Adam Smith Institute (ASI), scrutinises the findings of a separate report by the Institute for Fiscal Studies which suggests applying VAT to independent school fees would raise £1.3-£1.5billion – evidence for which the think tank itself has acknowledged is “thin” and “sparse”. Under the IFS’ optimistic scenario, only a limited number of parents will no longer be able to afford fees, and will move their children to the state sector. However, the …

Transformation at Rolls-Royce brings underlying profits up to £1.6bn

Transformation at Rolls-Royce brings underlying profits up to £1.6bn

Rolls-Royce Holdings plc has recorded an underlying operating profit of £1.6 billion for 2023 – up from £0.9 billion the previous year. Growth has been driven by commercial optimisation and cost efficiency savings across the group. Rolls-Royce also posted a record free cash flow of £1.3 billion, while net debt almost halved and now sits at £2 billion. Highlights from the past year… Source Source link