Labour: Government inflation target still incredibly high
Video Credit: ODN - Duration: 00:29s - Published
Labour: Government inflation target still incredibly high
Labour’s Rachel Reeves reacts to the UK’s latest Consumer Price Index inflation figures, which fell to 10.5% in December from 10.7% in November.
The shadow chancellor says the government’s target of five percent “is still an incredibly high level of inflation,” compared to the Bank of England’s target of two percent.
Report by Jonesia.
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Sir Keir Starmer comforted an army veteran who became emotional when he explained how he set up a charity after the suicide of a fellow ex-serviceman. Dan Smith explained how he started the Darlington Veterans’ Community, a charity which helps local ex-servicemen suffering with the cost-of-living crisis, after his friend committed suicide during the pandemic. He became visibly emotional with the Labour leader, who reassured him to take his time. Sir Keir was joined in Darlington by Shadow Chancellor Rachel Reeves, during a visit to businesses ahead of next week's local elections.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Business Secretary Jonathan Reynolds described a government minister's appearance on Question Time as "incredibly embarrassing" after he appeared to ask if Rwanda and Congo were different countries. When discussing the government policy of deporting asylum seekers to Rwanda, policing minister Chris Philp responded to an audience member’s question during the BBC One programme by asking: “Rwanda is a different country of Congo, isn’t it?”
Mr Reynolds said the Rwanda scheme has caused "significant damage to the reputation of the UK around the world." The government's Rwanda bill, which was passed in parliament last week, says any asylum seeker entering the UK "illegally" after 1 January 2022, from a safe country such as France, could be sent to Rwanda.
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Labour leader Sir Keir Starmer says his government would transfer the 10 remaining privately run rail networks to public ownership “well within the first term” by folding existing private passenger rail contracts into a new body as they expire. His comments come during a visit to a train manufacturer Hitachi in Newton Aycliffe, Co Durham. Report by Czubalam. 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
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
Labour's Rachel Reeves has said voting to bring down the SNP government and forcing an election in Scotland is the right thing to do for the people of Scotland. “We will back the motion of no-confidence in Humza Yousaf, but we've gone further and tabled a motion of no confidence in the whole Scottish government and if Anas Sarwar and Scottish Labour are successful with that amendment the government will fall and there will be fresh elections," the shadow chancellor said. It comes as Humza Yousaf is facing confidence votes in himself and his government following his decision to sack the Greens from government.
"The chaos and division at the heart of the SNP Is having a real impact on public services and the lives and communities across Scotland and we now have two broken governments - The SNP in Scotland and the Conservatives in Westminster. It is time for fresh elections in Scotland and across the UK," Ms Reeves added.
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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 by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow home secretary Yvette Cooper claimed Labour would bring in 13,000 more police officers in a bid to revive high streets. Ms Cooper claimed the government had "finally done a U-turn" as it now backed a previous Labour proposal to bring in a new law covering attacks on retail staff. The shadow home secretary was joined by deputy party leader Angela Rayner and shadow chancellor Rachel Reeves on a visit to the north east where they met with retail staff. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Labour's Rachel Reeves has announced plans to crack down on tax avoidance. The shadow chancellor said Labour will ensure "that people who make Britain their home pay their fair share of tax here in Britain." The shadow chancellor said Labour aims to raise £2.6bn over the next parliament by closing “loopholes” in the government’s plans to abolish exemptions for “non-doms". Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
CPI(Maoists) confirmed 29 deaths in Kanker, excluding Lalita. Corrected names were released. Police list matched, including Shankar Rao. Bastar range IG P.. IndiaTimes
Congress leader Rahul Gandhi holds a spirited roadshow in Wayanad, Kerala, ahead of filing his nomination papers for the Lok Sabha elections. Thousands of supporters join him, while CPI candidate Annie Raja also files her nomination. Criticism arises, questioning Rahul's decision to contest against Raja instead of confronting the BJP directly. The electoral dynamics in Wayanad reflect intricate alliances and fierce rivalries.
#Congress #RahulGandhi #LokSabhaElections #Wayanad #KeralaElections #CPI #AnnieRaja #BJP #Amethi #CongressParty #Worldnews #Oneindia #Oneindianews
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Consumer Prices , Rose 0.4% in February.
The Bureau of Labor Statistics released
its latest data on March 12.
In February 2024, prices rose 0.4%
compared to January and 3.2% year-over-year, according to the Consumer Price Index (CPI).
The figures, which are greater than expected, represent the biggest monthly increase since September, Yahoo Finance reports. .
The index for housing rent rose 0.5% in February.
Gas prices rose 3.8%.
While food prices held steady for the month, they increased 2.2% year-over-year.
The Federal Reserve will use the latest data to help determine its position on interest rates on March 20. .
Experts predict that rates will
remain unchanged for the time being.
The market is now eyeing June for the possibility of rate cuts, Yahoo Finance reports. .
Fed Chair Jerome Powell recently said
that while interest rates will likely
be cut "at some point this year,"
"a little bit more data" is needed.
Credit: Wibbitz Top Stories Duration: 01:31Published
The governor of the Bank of England has signalled the UK is still on course for an interest rate cut as official figures show a further easing in the pace of.. Sky News
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
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
The deaths of the Reading terror attack victims were "probably avoidable" and contributed to by the failings of multiple agencies, an inquest has found.
Friends James Furlong, 36, Joseph Ritchie-Bennett, 39, and David Wails, 49, were stabbed to death by Khairi Saadallah, now 29, in Forbury Gardens on 20 June 2020.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Royal biographer Hugo Vickers said the King's return to duties is a sign he is "on the way to recovery." Buckingham Palace confirmed today that His Majesty The King will shortly return to public-facing duties after a period of treatment and recuperation following his recent cancer diagnosis. "I think the most difficult thing for him was he was really getting into his stride as head of state and he was doing so much and then suddenly he was confined to base. We'll be very pleased to see him and he'll be delighted to be out and about again," Mr Vickers added. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The world’s first personalised mRNA cancer jab for melanoma – which also has the potential to stop lung, bladder and kidney cancer – is being tested in British patients. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Former Post Office boss Angela van den Bogerd has left the Post Office inquiry after her second day of giving evidence. Ms van den Bogerd, who held numerous positions at the Post Office during her 35-year career, opened her evidence yesterday by saying she is "truly sorry" for the "devastation" caused to wrongly convicted sub-postmasters.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Scotland’s first minister Humza Yousaf is battling for his political survival after a chaotic 24 hours which saw him end the SNP’s governing partnership with the Greens on Thursday. This was followed a couple of hours later by the Scottish Conservatives putting forward a motion of no confidence in the first minister. The motion was backed by Scottish Labour, the Scottish Lib Dems and, crucially, the Greens, who just 24 hours earlier were close cabinet colleagues. It leaves Mr Yousaf potentially having to rely on Alex Salmond’s Alba Party, and their one MSP Ash Regan, to survive a no-confidence vote. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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