Truss facing revolt on real-term benefits cut as she insists ‘no decision has been made’ yet Tory row Liz Truss has suggested she is undecided on increasing benefits in line with inflation, as she faces a rebellion from backbench Tory MPs over the policy. The embattled PM was probed on the issue during a BBC Radio 4 Today Programme interview, in wake of a testing day on Monday during which she was forced [...]
IFS warns ‘massive spending cuts will still be needed’ despite Kwarteng U-turn U-turn response The Chancellor’s U-turn on his plans to axe the 45p tax rate will do little to ease the pressure on the UK’s public finances and the mammoth spending cuts needed to get borrowing back on track, think tank experts have warned. Paul Johnson, director of the Institute for Fiscal Studies (IFS), said the about-turn on [...]
FTSE 100 falls after dramatic 45p U-turn, as pound erases gains against dollar GOV U-TURN The pound pushed higher on Monday morning after the government said it would scrap its planned 45p income tax cut, while the markets dipped in response to the dramatic news. Sterling leapt by as much as one per cent against the US dollar to $1.12 early on Monday morning while teetering back slightly after a [...]
Kwarteng to U-turn on scrapping 45p tax rate: ‘We get it – we have listened’ October 3, 2022 Chancellor Kwasi Kwarteng will U-turn on scrapping the 45p tax rate amid opposition from his own MPs and former ministers. The government is to row back on the policy following vocal opposition from former cabinet ministers Michael Gove and Grant Shapps. On Sunday, the Prime Minister said she was “absolutely committed” to the policy. Posting [...]
Top Apple exec let go over vulgar viral TikTok video September 30, 2022 A top Apple executive is to leave after being filmed making inappropriate jokes on social media. Tony Blevins, the technology giant’s vice president of procurement, was heard talking about “fondling big-breasted women” for his job, during a viral post on TikTok. In the clip by Daniel Mac, a viral blogger who asks people in nice [...]
Ukraine’s president Zelensky applies for fast-tracked NATO membership after annexations and nuclear threats September 30, 2022 Ukraine’s president Vlodymyr Zelensky has applied for fast-track application of his country to Nato, after Russia’s illegal annexation of four regions. The head of state issued a statement after a meeting with Kyiv’s national security and defence councils. This comes after Russia’s President Vladimir Putin announced the annexation of eastern-Ukrainian territories of Donetsk, Luhansk, Kherson [...]
Putin declares four regions of Ukraine part of Russia as nuclear warnings rumble September 30, 2022 Russian President Vladimir Putin has declared four Ukrainian regions part of Russia, amid renewed warnings the Kremlin may use a strategic nuclear weapon. In a ceremony at the Kremlin, the authoritarian leader announced that Donetsk, Luhansk, Kherson and Zaporizhzhia would be subsumed by Russia, following four ‘referendums’, which were widely declared as illegal and a [...]
Royal Mint releases new £5 and 50p coins with King Charles’ effigy September 30, 2022 Coins bearing the face of new monarch King Charles III have been unveiled by the Royal Mint. The official effigy of the sovereign appears on a commemorative £5 coin and 50p, marking the life of his mother, the late Queen Elizabeth II. The portrait adorning both coins was created by renowned British artist and sculptor [...]
Govt must decide which ‘unpleasant combination’ of investment and benefit cuts will fuel mini-budget September 30, 2022 The government will have to decide which “unpleasant combination” of investment and benefit cuts will fuel its mini-budget stimulus package. a leading think tank has said. Prime Minister Liz Truss is appearing to stick with to Chancellor Kwasi Kwarteng’s mini-budget plans, despite the Tories sinking in the polls overnight with YouGov saying Labour now has [...]
Nike and JD Sports sign transatlantic deal to give UK customers more new shoes September 30, 2022 British and American sports brand giants JD Sports and Nike have shaken hands on a new partnership to give customers access to more products and rewards. The Connected Partnership deal signed this week, the first-of-its-kind in Europe, will give customers the chance to get their hands on a range of exclusive products from the US-shoe [...]
