Ex-Bank of England economist 'laments' Labour U-turn on £28bn green pledge

Starmer: This is a clear message for the PM

Sir Keir Starmer hails a ''cracking'' win in Blackpool South with Chris Webb achieving a swing of over 26% which the Labour leader claims "no one expected". Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Starmer: Blackpool speaks for the whole country

In a speech alongside newly elected MP Chris Webb, Sir Keir Starmer said the result in Blackpool South had sent a message “directly to the Prime Minister” demanding a change. Labour’s Chris Webb won the Blackpool South parliamentary seat with a swing of 26.33% from the Tories. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Labour win Rushmoor in Hampshire for the first time

There was good news for Labour deep in the so-called “blue wall” of the traditional Conservative heartland of Hampshire. The party gained seven seats and a majority on Rushmoor council, an area that includes the army town of Aldershot, while the Tories lost eight seats and overall control. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Labour wins Blackpool South by-election

Labour has won the Blackpool South parliamentary by-election, with Chris Webb securing 10,825 votes, a majority of 7,607. The contest was triggered by the resignation of former Tory MP Scott Benton following a lobbying scandal. The Tories avoided the humiliation of coming third in Blackpool South, but finished just 117 votes ahead of Reform UK. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Banking Chief welcomes new notes featuring King's portrait

Chief Cashier of the Bank of England Sarah John has welcomed the new bank notes featuring a portrait of His Majesty The King. The King welcomed Mrs John and Governor of the Bank of England Andrew Bailey to Buckingham Palace, where he was presented with £5, £10, £20 and £50 notes. These are the first notes which feature the image of His Majesty. Mrs John said it's "a great pleasure to be able to show the King what he's going to look like on the bank notes of the future." Mrs John revealed the bank notes will be released to the general public on the 5th of June. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

The King is presented with bank notes featuring his portrait

The King welcomed Bank of England Governor Andrew Bailey to Buckingham Palace, who presented him with the first bank notes featuring his portrait as monarch. The portrait of His Majesty which appears on the notes is based on a portrait that was provided by the Palace to the Bank of England. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Bank of England keeps interest rates on hold

The Bank of England has voted to keep interest rates unchanged, but showed what was perhaps the clearest sign in years that cuts could come in the months ahead. Bank governor Andrew Bailey said the economy is “not yet at the point” where rates can be lowered, but things are “moving in the right direction”. For the first time since September 2021, no-one on the nine-person decision-making body that sets interest rates voted for an increase. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Chancellor hails inflation rate fall to 3.4%

Chancellor Jeremy Hunt announces UK inflation fell to the lowest level in more than two years, to 3.4%. He would not be drawn on whether the fall would allow him to announce pre-election tax cuts in an autumn statement. Mr Hunt said: “What I’m really saying is that as inflation gets closer to its target, that opens the door for the Bank of England to consider bringing down interest rates, that brings down mortgage rates, that makes a very big difference. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn