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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Chancellor Jeremy Hunt has welcomed the cut to National Insurance by visiting a Morrison's store to meet its employees.
He reiterated the government's aspiration to reduce even more of the tax when it was 'responsible' to do so. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Jeremy Hunt is convening a summit aimed at enticing more companies to London's stock market amid an accelerating exodus of businesses being picked off by.. Sky News
Rishi Sunak, Jeremy Hunt and Grant Shapps have been greeted by the British ambassador to Poland, Anna Clunes, at Warsaw Airport.
The prime minister is in Poland to discuss security with his counterpart Donald Tusk and Nato Secretary General Jens Stoltenberg. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Jeremy Hunt says he would like to bring down taxes - but only if it were fiscally responsible.
He adds he would also like to put more money into public services through growing the economy rather than more funding. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Jeremy Hunt says the latest inflation rates are 'encouraging' alongside 'strong' fundementals that show the British economy is set to grow after a tough period. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
A 14-year-old boy has died following multiple stabbings in Hainault, north-east London as a sword-wielding suspect remains in custody after being tasered and arrested on suspicion of murder. The Metropolitan Police say four other people were injured in the attack, and that the suspect is in hospital after sustaining injuries when his van hit a house. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Metropolitan Police confirm they have found “no trace” of a prior incident involving a sword attacker near Hainault Tube station on Tuesday. Assistant Commissioner Louisa Rolfe says however, “we will continue to make those inquiries”.
Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Former England cricketer Monty Panesar said he wanted to "represent the working-class" by running for George Galloway's political party at the general election. Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
An eyewitness describes the moment a young boy was fatally stabbed in an unprovoked attack in Hainault, East London. James Fernando, 39, described the 13-year-old victim as a “very good child” who “never put a foot wrong.” The sword-wielding suspect remains in custody after being tasered by police at the scene. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chief Cashier of the Bank of England Sarah John has welcomed the new bank notes featuring a portrait of His Majesty The King. The King welcomed Mrs John and Governor of the Bank of England Andrew Bailey to Buckingham Palace, where he was presented with £5, £10, £20 and £50 notes. These are the first notes which feature the image of His Majesty. Mrs John said it's "a great pleasure to be able to show the King what he's going to look like on the bank notes of the future." Mrs John revealed the bank notes will be released to the general public on the 5th of June. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The King welcomed Bank of England Governor Andrew Bailey to Buckingham Palace, who presented him with the first bank notes featuring his portrait as monarch. The portrait of His Majesty which appears on the notes is based on a portrait that was provided by the Palace to the Bank of England.
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 has voted to keep interest rates unchanged, but showed what was perhaps the clearest sign in years that cuts could come in the months ahead. Bank governor Andrew Bailey said the economy is “not yet at the point” where rates can be lowered, but things are “moving in the right direction”. For the first time since September 2021, no-one on the nine-person decision-making body that sets interest rates voted for an increase.
Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Chancellor Rachel Reeves insists people are still worse off under a Tory government despite inflation falling to 3.2%, adding the reason for the fall was due to changes in global markets. Report..
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