Chancellor: Baked-in 2024 tax cuts to give idea of direction
Video Credit: ODN - Duration: 01:39s - Published
Chancellor: Baked-in 2024 tax cuts to give idea of direction
Chancellor Rishi Sunak tells the Treasury Committee he has "baked in" cuts to income tax for 2024 because it is "good to give people a sense of direction".
He adds that he also said in autumn that he aimed to reduce tax "going forward" and that these targets will allow the government to have more "disciplined" conversations about public spending as they now have "something to aim for".
Report by Edwardst.
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Defence Minister James Cartlidge says that supplying munitions to Ukraine has depleted the UK’s stockpiles as he outlines the reasons for an increase in defence spending. His comments come after Rishi Sunak’s new pledge that the UK will spend 2.5% of its gross domestic product (GDP) on defence by the end of the decade, amounting to 75 billion pounds. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rishi Sunak and German Chancellor Olaf Scholz held a joint press conference. Speaking today in Berlin, the prime minister confirmed the reduction in civil service headcount to pre-pandemic levels would partly fund the defence spending uplift. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rishi Sunak met the Chancellor Olaf Scholz in Berlin on Wednesday to discuss closer co-operation on security, trade and illegal migration.
Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rishi Sunak visits Germany, the day after announcing in Poland that the UK will spend 2.5% of GDP on defence by 2030. The prime minister is welcomed with military honours by Chancellor Olaf Scholz in the country's capital. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Labour has pledged to renationalise the railways if it wins the next general election, with the shadow transport secretary saying that "today's broken model simply doesn't work". The party says it will also introduce a new watchdog focusing on passengers, and streamline tickets and timetables. The government insists the plan will "do nothing" to improve service reliability or affordability. Meanwhile, passengers at Manchester Piccadilly station expressed frustration with rail services, but little enthusiasm for Labour’s plans. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Lib Dem leader Sir Ed Davey and his candidate Helen Morgan campaign in the North Shropshire constituency after Owen Paterson resignation prompted a by-election. The Lib Dem leader calls Mrs Morgan a "brilliant" MP and says that "even life long Conservative voters" want to back her. He also calls for fare prices to be frozen saying "the railways are in a total mess" and "something needs to be done". Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Protests took place outside the Post Office Inquiry as Angela van den Bogerd gave evidence saying she was "truly sorry" for the "devastation caused" by the wrongful conviction of subpostmasters. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Labour pledges to renationalise the railways if elected, in what the party calls the “biggest overhaul to our railways in a generation.” A Labour government will transfer rail networks to public ownership within its first term by folding existing private passenger rail contracts into a new body as they expire, Shadow Transport Secretary Louise Haigh says. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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