to pay stamp duty. i found that out this morning. that s good. it s a trickle down budget. sometime in the future, we may see a benefit, if all goes well. but the poor need help right now. in nother news, four russian occupied areas of ukraine are staging referendums on whether to become part of russia. western governments call them a sham. the first woman to win the booker prize twice, the celebrated author dame hilary mantel, has died at the age of 70. hello. in a massive shake up of the uk s finances, the chancellor kwasi kwarteng has outlined a series of tax cuts and spending commitments that will cost £45 billion by 2027. the independent institute for fiscal studies has described the announcements as the biggest tax cutting budget in 50 years. the government says its policies will help boost economic growth yesterday the bank of england warned the uk may already be in recession. but critics say funding the tax cuts will lead to unsustainable borrowing. the chancellor an
the i says the chancellor plans to cut income tax by a penny this year to help families struggling with the cost of living. the guardian says the chancellor is under pressure to act on the cost of living, with tory backbenchers warning the poorest face paying £1,000 a year more for food. the metro has the story of the conservative mp who has been arrested on suspicion of rape. the telegraph has the same story, saying the tory chief whip has asked him to stay away from parliament while police investigate. the independent has a special report on how ukraine fought back against russia in kharkiv. while the sun features the latest developments in the wagatha christie court case, focusing on comments made by the two husbands, wayne rooney and jamie vardy. lots of different stories to get through. good evening to you both, thanks for agreeing to talk us through the papers. we start with the front page of the metro, and a really stark headline, tory mp is arrested for rape. is
are on the cusp of what could be a critical moment in the course of the war. israel s prime minister, benjamin netanyahu, has been meeting his cabinet to vote on a proposed deal that would see hamas release dozens of israeli hostages over the next few days. they were seized at gunpoint when hamas designated a terrorist organisation by the uk government launched its attacks on israel on october 7th. it s thought, in return, israel would release more than 100 palestinian prisoners and there would be a four day pause in fighting. let s get the latest from our senior international correspondent, 0rla guerin, who is in tel aviv. tonight, the talking continues at the israeli government. ministers are having their say. this deal was carefully prepared over weeks of negotiation involving mediation by qatar and egypt. it has strong backing from the united states and there is a strong desire fear among israelis to see the hostages brought home. so, when the talking is finished in t
just six weeks ago. a plan for a low tax, low regulation, high growth britain by liberated by brexit. with the phrase and its policies now on the scrapheap, our business editor simonjack takes a look back at the rapid rise and fall of trussonomics. can we afford these tax cuts, chancellor? the road to liz truss demise arguably started here the not so mini budget that she and her chancellor announced with great fanfare. and i commend it to the house. trussonomics massive tax cuts, lighter regulation equals higher growth. but there was a problem there was no explanation of how £45 billion in tax cuts would be paid for, and no analysis from the budget watchdog as to whether the sums added up. but the chancellor was defiant, and promised more giveaways over that weekend. there s more to come. we ve only been here 19 days. i want to see, over the next year, people retain more of their income. the financial markets
this is bbc news with the latest business headlines for viewers in the uk and around the world. the humiliating end of trussonomics. a low tax, high growth dream that turned into a nightmare. now the uk must rebuild its financial credibility. we need a bit of stability and it is incredibly important that the conservative party has never been more split as it is at the moment. and this is a very dangerous time. so who will replace liz truss? business leaders tell us whoever it is they will need to tackle a wall of problems facing uk firms now some of these are increases in raw material cost, shipping costs. they have difficulty getting labour and now, of course, eye watering increases in energy bills. we had a leadership battle over the summer, and now we ve had a back and forward of policies.