Rachel Reeves: Pension ‘megafunds’ will boost growth
Video Credit: ODN - Duration: 01:49s - Published
Rachel Reeves: Pension ‘megafunds’ will boost growth
Rachel Reeves has told City chiefs she plans to create pension “megafunds” that will “power growth” in the economy and reward British savers.
In her first Mansion House speech as Chancellor, Reeves announced plans for the megafunds which she said could bring in £80 billion to invest in businesses and infrastructure.
Report by Covellm.
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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 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
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
Chancellor Rachel Reeves has said most Waspi women knew the state pension age was changing so it was not "the best use of taxpayers' money to pay an expensive.. Sky News
The UK economy unexpectedly contracted in October, marking two months in a row of negative growth for the first time since the pandemic, new figures show. Chancellor Rachel Reeves said she was “disappointed” by the data after a weak month for pubs and restaurants dragged on growth amid some uncertainty ahead of the autumn Budget. The Office for National Statistics said gross domestic product contracted 0.1% in October. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Sir Keir Starmer has teased Sir Ed Davey, as the Liberal Democrat leader vies for a Christmas No1 spot with his charity single, Love Is Enough, sung with the Bath Philharmonia's Young Carers' Choir. The prime minister said, "my family was surprised to see the honorable gentleman shamelessly plugging his song" on the steps of No 10 Downing Street. Starmer jokingly added, "we have strict rules against anti-social behaviour". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Kemi Badenoch has accused the government of "breaking promises" and "playing politics with the Waspi women". Labour has chosen not to compensate women born in the 1950s, claiming most knew about changes to the state pension age. Prime Minister Sir Keir Starmer responded saying, "the number one job of this government was to put the finances back in order after the last government lost control". 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 Prime Minister's Questions, as the Labour leader faces Kemi Badenoch in the Commons for the final PMQs of the year. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
After spending the summer trying to get to No 10, Sir Ed Davey is now vying for a Christmas No 1. The Liberal Democrat leader has released a charity single with the Bath Philharmonia's Young Carers' Choir, called Love Is Enough. He says the song has "wonderful lyrics" and will raise money for young carers' charities. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The homelessness minister says compensating Waspi women over changes to the state pension age "wouldn't be an appropriate use of taxpayers' money". Rushanara Ali adds the government "recognises this is going to be disappointing for women born in the 50s", but that Labour remains committed to the "vital" triple-lock system. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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