Chancellor admits she was 'wrong' to say higher taxes not needed during election

Rachel Reeves welcomes 'modest' economic growth

Rachel Reeves says news that the economy grew by 0.1% in November is "welcome, albeit modestly". The chancellor adds the latest Office for National Statistics figures show "we need to go further and faster in delivering growth to make people in Britain better off". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Reeves: Israel-Hamas ceasefire deal is welcome news

Rachel Reeves says news of a ceasefire agreement between Israel and Hamas is "welcome news". The chancellor adds that she now wants to see "all hostages released, a surge in aid into Gaza and work undertaken to achieve a two-state solution". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Govt hails unexpected dip in inflation rate

The chief secretary to the Treasury has hailed an unexpected dip in inflation, but admits that the cost of living "is still a pressure for families across the country and there's more work to do". Darren Jones adds the latest Office for National Statistics figures, "shows that the prime minister's plan for change is working". Inflation has fallen to 2.5% in December from 2.6% in November, which will come as a relief to Chancellor Rachel Reeves, who has faced criticism given rising government borrowing costs and a slump in the value of the pound. The latest figures could open the door for an interest rate cut next month. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn