Suella Braverman has welomed rising interest rates, as the Bank of England is expected to increase rates by 0.5 per cent, to their highest level since 1995, to "challenge global inflation".The attorney general backs Liz Truss' plan to cut taxes in a bid to help families and businesses during the cost-of-living crisis.
Report by Brooksl.
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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 ÂŁ5, ÂŁ10, ÂŁ20 and ÂŁ50 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.
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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
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. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
William Wragg, chair of the public administration and constitutional reform committee, asked the prime minister if he is “part of the deep state,” referring to comments made by Liz Truss who claimed her mission to cut taxes were “sabotaged” by the “deep state.” Mr Sunak wryly responded: “I probably wouldn't tell you if I was, Will, would I?” Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Labour closes in on a London mayoral victory for Sadiq Khan on Saturday. With just five of 14 constituencies declared, London’s Labour incumbent Mr Khan was leading with over 427,000 votes, with Ms Hall just over 234,000. The total turnout in the election is 2,495,621, with fewer than half of the results yet to be declared. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Science Minister Andrew Griffith says that people voting for Reform UK is partly to blame for disappointing local election results for the Conservative party. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Ed Davey has said the Liberal Democrats are doing "better than expected" in the local elections and that voters are switching to his party because they "have had enough of being taken for granted and being let down". The party's leader spoke from Winchester, a seat he thinks the Lib Dems could take at the next general election. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Labour leader hailed the win by his party’s candidate David Skaith in the York and North Yorkshire mayoral election, an area he described as “the heart of Tory territory”. Appearing at Northallerton Town Football Club with new mayor Mr Skaith, Sir Keir said: “It’s an amazing moment in history, to have a Labour victory here.''
Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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