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".
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.
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A fall in December's CPI inflation of 0.1 percentage points to 2.5% is marginal, but by being below expectations it delivered an above-expectations boost to.. Sky News
Rachel Reeves has defended her decision to visit China over the weekend and accuses the Conservatives of "not wanting to engage with the second largest economy in the world". The chancellor adds that to grow the UK economy "we need to help great British business export around the world" and that not engaging with China "is simply not an option". 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 been accused of refusing to "face up to her own failures" by "jetting off to Beijing" during a week of market turmoil. Sky News
The shadow financial secretary to the Treasury has called on Chancellor Rachel Reeves to "urgently get a grip" on the economy amid the current financial market turmoil. Gareth Davies adds high interest rates and mortgate payments "will be hurting people across the country. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chief Secretary to the Treasury Darren Jones says the Labour government is still committed to stimulating economic growth despite figures from the Office of National Statistics showing the economy recorded no growth in the third quarter of this year. Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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
Figures released by the Office for National Statistics (ONS) on Thursday put net migration at more than 900,000 in the year to June 2023, numbers Starmer blamed on the previous Conservative government.
Credit: euronews (in English) Duration: 01:32Published
UK inflation has risen to its highest level since April driven by an increase in household energy bills, according to official figures.
The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation rose to 2.3% for October, up from 1.7% in the previous month. Shadow Chief Secretary to the Treasury Darren Jones said there was “more to do” to ease cost-of-living pressure.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Darren Jones says Tulip Siddiq's resignation from the government can be seen as a "clear success" for Sir Keir Starmer, as it shows the prime minister's new independent process for investigating ministerial conduct "has worked". The chief secretary to the Treasury adds Siddiq "was a good minister doing a great job", but that she accepted her wider family had become a "distraction" for the government. Siddiq resigned as Treasury minister over an anti-corruption investigation into her wider family in Bangladesh. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chief Secretary to the Treasury Darren Jones says the Labour government has brought stability back to the economy since high inflation under Liz Truss, and that businesses and working people will be pleased with inflation nearing the 2 per cent target.
Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Tulip Siddiq ignores questions from an ITV News reporter as she departs Parliament following her resignation as Treasury minister, following pressure around her connections to the deposed Bangladeshi regime. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
A woman who worked as a Personal Assistant to the former Harrods boss Mohamed Al Fayed has broken her silence about the sexual abuse she says she suffered at his hands. Tanya Addison says Al Fayed would "make you sit on his lap" and "often kiss you on the mouth". She adds she was preyed upon almost as soon as she started working for Al Fayed in the 1990s, leaving her feeling "very frightened" and "deeply ashamed". Tanya has now joined a string of other women who have bravely come forward to make sexual allegations against the late Harrods boss. 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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