are the biggest tax cutting budget in half a century. we ll find out what the changes mean for households. also this lunchtime: four russian occupied areas of ukraine are voting on whether to become part of russia in what the west sees as a move by moscow to annex the regions. a court has been shown distressing video footage about suicide and self harm that the schoolgirl molly russell viewed before she took her own life. and the multi award winning novelist dame hilary mantel, best known for her wolf hall trilogy, has died aged 70. coming up on the bbc news channel, can england rediscover theirform again? italy awaits tonight before germany on monday, with gareth southgate hoping to avoid the disappointment of relegation in the nations league. good afternoon and welcome to the bbc news at one. 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 independ
give us a sense of how people are reacting and markets are reacting to all of this. ., ., , . all of this. you would expect the markets to all of this. you would expect the markets to be all of this. you would expect the markets to be cock-a-hoop i all of this. you would expect the i markets to be cock-a-hoop about the markets to be cock a hoop about the biggest tax cuts we ve had in more than half a century, but they haven t reacted that way. as we ve heard, the pound has fallen to its lowest level since 1985, and that is partly because the city won tjust say, tax cuts, great, they will weigh up whether the prospects for growth in the public finances are realistic. when they are considering whether to buy bonds, effectively lending to the uk government, they want to know about the risks, and they are just the interest those bonds they require in order to purchase them according to those rates. investors want more money offered to them to, take the risk that they don t get paid bac