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.
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Jeremy Hunt has accused Labour of lying over the "£22bn" budget black hole it claims to have inherited. The shadow chancellor, who was speaking at the Conservative conference in Birmingham, claimed the £22 billion “black hole” could turn out to be a £39 billion surplus. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Labour chair Ellie Reeves predicts more “division” and “chaos” within the Conservative Party after Kemi Badenoch was elected as the Tory’s new leader today. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Kemi Badenoch is declared winner of the Conservative Party leadership contest at an event in central London, defeating rival Robert Jenrick by 53,806 votes to 41,388. The new leader says the Tories have to be "honest" about the "fact we made mistakes" and "the fact that we let standards slip" during her acceptance speech. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Hot off the heels of 'brat' summer, the term coined by British singer Charli XCX has been named the Collins Word of the Year 2024. A spokesperson for Collins Dictionary says their lexicographers discussed the new meaning behind the word 'brat' before deciding on its published definition. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
A teenager has been detained for life and will serve a minimum of 17 years for stabbing his 15-year-old ex-girlfriend to death in the street. Logan MacPhail, then aged 16, stalked Holly Newton for an hour through Hexham, Northumberland, before knifing her 36 times in an alleyway. Before handing down the sentence at Newcastle Crown Court, Mr Justice Hilliard said, "what happened in this case should not happen to any child or parent". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The chancellor has defended her Autumn Budget, calling it a "robust fiscal framework" that delivers "stability", despite an adverse market reaction that included a jump in the cost of government borrowing. Rachel Reeves adds that the International Monetary Fund has given her Budget "a clean bill of health". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Bank of England governor Andrew Bailey has said he is "optimistic" that inflation pressures would ease sufficiently for the central bank to cut rates further.
Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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