Downing street insists borisjohnson is still in control, after another conservative mp called on him to go. The Prime Minister has also seen the resignation of a fifth senior adviser. Rescuers in morocco are reported to be getting closer to reaching a young boy trapped at the bottom of a well. The five year old, called rayan, fell down the 32 metre well on tuesday. At 10pm, Reeta Chakrabarti will be here with a full round up of the days news. First, its newscast. Confession time. Wed recorded tonights episode of newscast, and then i went to the pub to have. Ah . It turns out two thirds of a pint with a friend. Then, of course, my phone went mad because loads of developments happened in the Downing Street sacking saga. So, ive popped back, laura never left. Whats happened tonight . Well, as one mp said to me, its not a Downing Street nightmare, its a Downing Street meltdown and lets say, we are now recording this at 8 15. In the last couple of hours, the Prime Ministers policy chief has
Downing street insists borisjohnson is still in control, after another conservative mp called on him to go. The Prime Minister has also seen the resignation of a fifth senior adviser. Rescuers in morocco are reported to be getting closer to reaching a young boy trapped at the bottom of a well. The five year old, called rayan, fell down the 32 metre well on tuesday. At 10pm, Reeta Chakrabarti will be here with a full round up of the days news. First, its newscast. Confession time. Wed recorded tonights episode of newscast, and then i went to the pub to have. Ah . It turns out two thirds of a pint with a friend. Then, of course, my phone went mad because loads of developments happened in the Downing Street sacking saga. So, ive popped back, laura never left. Whats happened tonight . Well, as one mp said to me, its not a Downing Street nightmare, its a Downing Street meltdown and lets say, we are now recording this at 8 15. In the last couple of hours, the Prime Ministers policy chief has
Higher savings for some. In the last half an hour, weve had this reaction to the rate rise from the chancellor, jeremy hunt. Well, of course any rise in Interest Rates is a worry for families with mortgages, for businesses with loans. But underneath that decision is a forecast that says that this time next year, inflation will be 2. 8 and we will have avoided recession. What the Bank Of England governor is saying is that we have a plan that is bringing down Inflation Lay solidly, robustly and consistently. So the plan is working but what we have to do as a government is make sure we stick to that plan and dont veer around like a shopping trolley. We stick to that plan so that families and businesses can start to feel the benefits of that plan actually working. So, jeremy hunt says the government is sticking to its plan. But this was the reaction from labours shadow chancellor, rachel reeves. The government need to take responsibility for the fact that inflation in the uk is much higher
the economy is coping with the cost of living crisis when we get first quarter gdp figures in just over an hour s time. it s expected to have continued growing by 0.2% in the first three months of the year. hardly booming, but a far cry from the record breaking recession that the bank of england was predicting six months ago. on thursday, the bank announced a major rethink of its forecasts, saying the uk will now avoid going into recession. but it warned that the battle to get soaring prices under control is taking much longer than expected. the bank also raised its main interest rate again by 0.25%, to 4.5%. that s the 12th rate rise in a row, and it puts the cost of borrowing here in the uk at a 15 year high. the bank is trying to take spending power out of the economy to stop prices rising so fast. inflation is currently running at over 10% a year. that s the highest rate in a0 years, and five times the bank s target of 2%. our economics editor faisal islam reports. red gr