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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Prime Minister Sir Keir Starmer, Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds visit a business in Nuneaton to promote the government’s new industrial strategy Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves doesn’t say whether the UK believes strikes by the US on Iran were legal. The Chancellor tells broadcasters during a visit in the West Midlands: "It is up to the US to make that case. We were not involved in these actions and, of course, we would never comment on the legal advice that the government receives." Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Following the Bank of England’s decision to leave UK interest rates at 4.25%, Rachel Reeves says the government respects the Bank's decision. Speaking at the Times CEO Summit in central London, the Chancellor says, "we respect independent economic institutions, and the Bank has got an incredibly important but difficult job to do”. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves says it is "disappointing" to have a month of "bad data", as the latest figures show the UK economy shrunk by 0.3% in April, a figure higher than expected. But the chancellor says U.S. trade tariffs have had an impact. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Ten million pounds is to be spent on fixing shortfalls in the core numbers produced by the Office for National Statistics (ONS) amid a continuing lack of.. Sky News
Home Secretary Yvette Cooper says the fall in net migration "is important and welcome” but admits the government needs to go “significantly further”. The figure stood at an estimated 431,000 in the year ending December 2024, down 49.9% from 860,000 a year earlier, the Office for National Statistics said. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The chief secretary to the Treasury has accused Kemi Badenoch of posting her views about the UK's trade deal with the US on social media before reading it. Darren Jones adds the government continues to negotiate with the EU, but will honour Labour's manifesto pledge not to rejoin the single market or customs union. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Allahabad High Court denied bail to a 62-year-old man accused of sharing a "Pakistan Zindabad" post on Facebook. Justice Siddharth stated that judicial.. IndiaTimes
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Beachgoers in Brighton enjoy the hot, sunny weather as temperatures surpassed 30C in England on Monday. Heathrow Airport recorded the highest temperature of the day so far with a high of 33C. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Tennis fans arrive in southwest London for the what is expected to be the hottest ever opening day of the Wimbledon Tennis Championships. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Ben Askren has undergone double lung transplant surgery ... and following the procedure, his wife shared she's now full of optimism about his future. Amy Askren.. TMZ.com
The shadow chancellor says the Treasury "should not be popping champagne corks" over the unexpected dip in inflation to 2.5% in December. Mel Stride adds the government has "killed growth stone dead"..
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