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BBCNEWS BBC News July 7, 2024



government s in panic. the country will pay a lasting price for putting is through this ideological experiment and will pay a lasting price through economic instability and rising mortgage rates for some time to come. and in other news. the head of the metropolitan police says hundreds of his officers should have been sacked for gross misconduct. civilians rescued in the ukrainian capital after an attack by russian kamikaze drones. scotland s first minister nicola sturgeon has set out her economic argument for leaving the uk, including plans move to a scottish currency when the time is right . the new chancellor, jeremy hunt, has scrapped almost all of the key measures in last month s controversial mini budget, in the latest in a series of government u turns. in an emergency statement, he abandoned indefinitely the planned 1p cut in the basic rate of income tax, that had been due to come in next year. help with energy bills will now only last until next april instead o ....

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BBCNEWS BBC News Special July 7, 2024



announced by his predecessor, kwasi kwarteng, in last month s mini budgetjust three weeks ago. in an emergency statement this morning, he abandoned indefinitely the planned ip cut in the basic income tax that was due to come next year. help with energy bills will now only last until next april. instead of for two years, and then that will be reviewed. today, jeremy hunt claimed all of those announcements will save £32 billion a year, but he also warned that there are going to be more difficult decisions ahead on tax and spending to cut government debt. he will be addressing mps in the commons later this afternoon, some time after lipm. before then, there will be an urgent question in there will be an urgent question in the commons asked by sir keir starmer. it will not be liz truss responding to that, it will instead be penny mordaunt. so plenty ahead in the commons. in terms of the market reaction, jeremy hunt said that he had sought to reassure the markets this morni ....

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BBCNEWS BBC News July 7, 2024



finding a way to trade with the uk internal market and also the european single market, border checks between england and scotland, as announced today by the first minister. massive gap in public finances that would have to be breached. that is a recipe for precisely the austerity she say she is worried about. let me say this. if we want economic stability, if scotland wants economic stability, to coin a phrase, we are stronger together. what will the impact of these measures be on the growth rate, and will we still avoid recession? i will we still avoid recession? i will publish the economic forecast from the obr when i make my statement in a fortnight s time. i think it s betterfor statement in a fortnight s time. i think it s better for me to wait until i hear that. but the proper answer to his question is that what we are seeking is long term, sustainable increase in the economic growth rates, and that is a central policy of the prime minister which has my wholehear ....

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BBCNEWS BBC News July 7, 2024



says his party hasn t got complacent, and repeats calls for a general election. these people are so fed up. they are entitled, they want a say in this. there is a choice to be made. we need a general election. let the public in to decide. do they want to continue with this utter chaos? elsewhere, headteachers in england say 9 in 10 schools will have run out of money by the next school year due to the cost of living crisis. good afternoon. rishi sunak has formally entered the contest to become the next conservative leader and prime minister. the former chancellor says he wants to lead the country with integrity, professionalism and accountability . he already has the required backing of more than 100 fellow tory mps. this afternoon, suella braverman, the former home secretary became the lastest high profile mp to endorse him. writing in the telegraph ms braverman says the tories all need to compromise but that rishi is the only candidate that fits the bill to deli ....

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BBCNEWS BBC News July 7, 2024



there are warnings of a potential threat to life and property as super typhoon noru hits the philippines, with forecasted winds of up to 200 kilometres an hour. good afternoon. sir keir starmer has said a future labour government would reinstate the 45% top rate of income tax which the tories are abolishing but keep the 1p cut in basic rate income tax also announced by ministers. as the labour party conference got underway, sir keir said the party would take a very different approach to economic growth. he dismissed the government s strategy, announced on friday, of cutting taxes to make the uk more attractive to business and investors. here s our political correspondent, ben wright. for the first time in years, labour gathers for its conference believing power might be in sight. the party now confronts a new prime minister borrowing billions to cut taxes, in a dash for economic growth a strategy labour s leader slammed this morning as wrong headed . i see a very ....

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