Chancellor pledges to 'fix' economy - as expert says 'black hole' matches Tory tax cuts
Friday, 26 July 2024 Chancellor Rachel Reeves has promised to "fix" the "mess" the Conservative government left in the economy, amid reports of a £20bn "black hole" in the public finances.
Chancellor Rachel Reeves claims “black hole” in public finances is “unsustainable”. She said, “left unchecked it would be financial stability at risk”.
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Andrew Bailey, the Bank of England governor, will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between.. Sky News
Retail giants including Asda, Marks & Spencer, Primark and Tesco will mount a new year campaign to warn Rachel Reeves that plans to hike business rates on larger.. Sky News
The shadow business secretary has called on Chancellor Rachel Reeves to "change course quickly", after new ONS figures show inflation increased to 2.6% in November. Andrew Griffith adds all the major economic metrics, such as inflation and growth, "are going in the wrong direction", and fears what four years of a Labour government will do to the UK economy. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves says she can understand why women affected by changes to the state pension age will feel "disappointed", but adds that paying an "expensive compensation bill" was not the best use of taxpayers' money. Campaigners say the government's decision not to compensate women affected by changes to the state pension age, and their communication of these changes, are "bizarre and totally unjustified". But the chancellor says the ombudsman has reported that around 90 percent of women knew the changes were coming. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves says the UK's latest inflation figures are "broadly in line with our international peers", despite rising to its highest level since March. The chancellor adds, "I recognise the cost of living crisis continues to bite" but that the government is "taking action" to address its challenges. ONS figures show inflation has risen to 2.6% in November, from 2.3% the previous month. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Levelling Up Secretary Kevin Hollinrake insists Kemi Badenoch is the "right person" to the lead the Conservative Party saying, "she is very strong, she's very optimistic, she is very bold". Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Home Office minister Matt Vickers says the Conservatives want to reduce the numbers of civil servants at Whitehall and calls the government’s plan to reform public services “a gimmick”. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Conservative Party leader Kemi Badenoch says Sir Keir Starmer "owes the House an explanation", as to why Louise Haigh was appointed as transport secretary. The prime minister replied, "while she's obsessing with Westminster issues, we're getting on with fixing the mess and fixing the foundations". Haigh resigned from the cabinet last week after it emerged she was found guilty of fraud a decade ago. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Sir Keir Starmer has arrived at the Houses of Parliament for the first PMQs since MPs voted in favour of a bill to legalise assisted dying in England and Wales. The prime minister faces questions from Conservative Party leader Kemi Badenoch as the government announces that three rail operators will be renationalised next year. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Conservative MP Andrew Mitchell says he has “had tears pouring down his face” hearing stories from his constituents who have had their “mother, brother, father die in great pain”.
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