Isjust not falling £300 billion in one single year. It is just not falling quite as fast as everyone had hoped, really. A lot of thatis everyone had hoped, really. A lot of that is due to the governments high interest Debt Payments which is not going to go away. I think in general this kind of dampens a bit of the chatter we have heard over the weekend about the chancellor hoping to cut taxes again in a fiscal event before the next election. That to cut taxes again in a fiscal event before the next election. Before the next election. That is the challenge before the next election. That is the challenge because before the next election. That is the challenge because the the challenge because the government, there was a they are raising taxes to fix Public Services or give the electorate some kind of gift before an election and that is when politics strays into economics and its not necessarily about what is better for the economy but what might win them some votes. Thats ri. Ht and mig
These are some of the latest pictures from our team there. Joining us now on the line, the bbc s tom symonds who has been in calais in Northern France this morning. Lets start with what has happened in the last few hours and those deaths. What more do we know . Were ustt in deaths. What more do we know . Were just trying to deaths. What more do we know . Were just trying to work deaths. What more do we know . Were just trying to work this deaths. What more do we know . Were just trying to work this out. Deaths. What more do we know . , just trying to work this out. They were perfect conditions for the channel. Flat seas and very clear visibility. A large number of boats have tried to get away. There were three potentials crossing is that it started. We think that it was at wimereux which is between boulogne and calais, where the migrants both live and try to escape to get to the uk, we have some details of those. The people who have died in the incident. There will be questions about w
of a large explosion. explosion there was panic and confusion in the hospital courtyard following the explosion. the news agency associated press, which supplied these pictures, said there was a fire in the area and the remnants of what appeared to be a missile. the hamas run health ministry says 13 people were killed. people sheltering in the grounds also recorded the moment, and its aftermath. israel s military says it is investigating reports that the areas around the hospitals have been struck. it s previously said its forces were operating close to shifa hospital, which it says is above hamas headquarters a claim hamas denies. there was also a series of explosions at the indonesian hospital. it s reported that the hospital was not directly struck but was hit by shrapnel. other hospitals in the territory are also said to be surrounded. the world health organization says 20 hospitals in gaza are now non operational. these pictures are from al rantisi paediatric hospital,
essentially moving sideways, but on my forecast, i think it will tip into the economy contracting over the next couple of quarters as the drug wins out. the next couple of quarters as the drug wins out- the next couple of quarters as the drug wins out. that means you are ”redictin drug wins out. that means you are predicting an drug wins out. that means you are predicting an official drug wins out. that means you are predicting an official recession. - predicting an official recession. that is right. we are predicting a mild recession by historical standards. i wouldn t get too worried about whether it is a recession, the big picture is we ve got an economy which is weak and essentially on its knees, before the full impact of higher interest rates has been felt. so i think that is the main message, whether there is a technical recession, which is defined as two quarters of consecutive contractions in gdp, or whether we bounce around with the economy moving sideways. the
britain s ecomomy is expected to have gone into reverse shrinking by 0.1%. and if that continues for the rest of the year two quarters of negative growth that would constitute a recession. the bank of england has raised the cost of borrowing to a 15 year high, to try to rein in soaring prices, and that s weighing heavily on many businesses and households. on thursday, official data showed a steep jump in the number of people falling behind on mortgage payments. our cost of living correspondent, colletta smith, reports. good morning, donna speaking, how may i help? with rates on the up, more people have been struggling to pay their mortgage bill. don t worry, i m sure we can get this sorted out for you. ..and an increasing number are now officially in arrears. you know, nobody wants to send debt collectors to your door. nobody wants that. that s not what we want. we want to help you, we want to get a solution in place with you, but we can only do that if you give us a ca