welcome to the programme. there are tentative signs that inflation is coming under control, and the recession forecast last year will be shallower and shorter than expected. butjust to make sure, the central banks are raising the interest rates again. yesterday it was the fed, today the bank of england increased the base rate, half a point, to 4% the highest it has been in m years. we think inflation will come down rapidly, and a lot of that is down to energy prices, which have fallen rapidly. but i m afraid there are big risks out there which mean that it may not happen in that way. yet we re still seeing stronger pressure from price and wage setting in the economy in the question is, will that start to ease off? coinciding with the bank s decision came a profit announcement from shell and a rather blunt illustration of why we re all getting poorer. the oil and gas giant has reaped profits of £40 billion last year. the taxman has reaped far less. shell said it paid $1
to south africa. and britain s prime minister orders an investigation into how the chairman of the governing conservative party settled a multi million dollar tax dispute. let s start with the war in ukraine. eu foreign ministers have been meeting in brussels amid an ongoing row about whether to send tanks. member countries are putting pressure on germany to provide some of its leopard two tanks, to help fight off russia s invasion. estonia s foreign minister has been at those talks in brussels he s been speaking to the bbc. decisions need to be implemented and the decisions need to be done and there is a moment of leadership which needs to be created. and my strong message is indeed, to all countries, who have weapons and stockpiles to give them immediately without any political caveats or any further considerations or hesitance of the russian s reaction. so let s take a closer look at germany s role in all this. the leopard 2 is operated by about 20 countries worldwide
and h totally get that. but in another blow to the prime minister, the conservative party chairman resigned straight after the by election results saying someone must take responsibilty. the labour leader sir keir starmer says the tories are imploding . with the prime minister out of the country in rwanda, we ll be asking if this is a moment of political peril for borisjohnson. also this lunchtime: ukrainain troops ordered to retreat from the key eastern city of severodonetsk. figures just out show another big rise in the number of covid infections in the uk 1.7 million people had the virus last week. and welcome back to worthy farm after three years, it s the long awaited return of glastonbury. coming up on the bbc news channel can emma raducanu repeat her us open championship exploits at wimbledon? she ll face belgian alison van uytvanck in the first round. hello, good afternoon. borisjohnson says he will keep going as prime minister, despite the double blow of l
borisjohnson has lost boris johnson has lost the confidence of the british people. borisjohnson has got to go. we will have reaction to the by election defeat. the biggest vote last in numerical terms of any by election ever. labour re takes wakefield, which it lost at the 2019 general election with the party s leader also insisting that it s time for a new non conservative government. now we ve had the sort of swing that puts us on track notjust for a labour government, but for a majority labour government, so this is hugely significant for the labour party and i m so proud. prince charles opens at the summit in rwanda by acknowledging the legacy of the slave trade. i in rwanda by acknowledging the legacy of the slave trade. i cannot ex - ress legacy of the slave trade. i cannot exwess the legacy of the slave trade. i cannot express the depths legacy of the slave trade. i cannot express the depths of legacy of the slave trade. i cannot express the depths of my - legacy