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
MPs have voted against the Welfare Bill amendment, with 328 MPs voting no. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The prime minister welcomed a host of public service workers including emergency service workers and teachers to the garden in Downing Street. Addressing them in a speech on Tuesday, Keir Starmer said: "We said we'd be a government of serivce and we should be talking to people in public service, taking on board what you have to say to us and then distilling it together because you're part of this." Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Infamous televangelist Jimmy Swaggart has died, his family has announced ... the reverend was 90 years old. Swaggart's family posted a tribute on Facebook.. TMZ.com
Queen Camilla officially opened the newly refurbished Ratho Library as part of her visit to Scotland alongside the King for Royal Week. Her Majesty praised the work of the staff in a speech, saying: "What wonderful places libraries are, literally from toddlers to pensioners – they manage to inspire a love of reading of books". Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Prince William received a hero's welcome as he greeted pupils during a visit to Meadowhead secondary school in Sheffield. The visit marked the second year of his homelessness prevention initiative. Prince William has been running the Homewards programme for two years, working with others to tackle the root causes of homelessness. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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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