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: āWhat Iām 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 "Ā£22bn" budget black hole it claims to have inherited. The shadow chancellor, who was speaking at the Conservative conference in Birmingham, claimed the Ā£22 billion āblack holeā could turn out to be a Ā£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
Angela Rayner has paid tribute to former deputy prime minister John Prescott following his death aged 86 following a battle with Alzheimer's. The deputy prime minister described Mr Prescott as "an incredible figure in politics" and revealed he would often ring her after PMQs to offer words of encouragement.
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Prime minister Sir Keir Starmer welcomed the President of Indonesia Prabowo Subianto to 10 Downing Street on Thursday. Mr Subianto, who was inaugurated last month, met the prime minister earlier this week at the G20 leadersā summit in Brazil.
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Gordon Brown has paid tribute to former deputy prime minister John Prescott following his death aged 86 following a battle with Alzheimer's. The former prime minister credited Mr Prescott with transforming "our view of climate change" and being the "pioneer of levelling up."
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Sir Keir Starmer said the UK must "double down" it's support for Ukraine after returning from the G20 summit in Brazil. Addressing the House of Commons on Thursday, the prime minister said it "could not be more clear" that "this is a man that wants destruction, not peace".
"After 1,000 days of war, I am clear that we must double down in our support. We will not be deterred or distracted by reckless threats," he added.
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Shadow defence secretary James Cartlidge has responded to speculation that Ukraine has fired UK-supplied Storm Shadow missiles at targets inside Russia for the first time. Mr Cartlidge said: "We do support giving Ukraine maximum autonomy because ultimately they're trying to fight for their lives - this is an act of self defence." Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England governor has said industry lobby group the British Retail Consortium (BRC) was right to warn of job losses as a result of the budget. Sky News
The governor of the Bank of England said that the UK must āwelcome opportunities to rebuild relationsā following Brexit, as he backs the Chancellorās plans to boost business investment and growth. Andrew Bailey discussed the importance of economic growth at the annual Mansion House speech in the City of London. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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