The Prime Minister has warned that the budget this october will be painful, in his first major speech from no 10 since becoming Prime Minister. Speaking in the rose garden, he said his government had inherited a black hole in the public finances, of £22 billion. Those with the broadest shoulders should bear the heaviest burden, he cautioned, but he also said there would be big asks of everyone. The conservatives responded by saying the speech was an indication that labour had been planning tax rises all along. Vicki young has our top story. Blue skies and sunshine, but the Prime Minister didnt come here to paint a rosy picture. He has accused the conservatives of wrecking the economy, leaving him to put it right. There is a budget coming in october. And it is going to be painful. We have no other choice, given the situation that we are in. Those with the broadest shoulders should bear the heavier burden. I will have to turn to the country, and make big asks of you as well. Its already
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and hopes of a deal between gary lineker and the bbc in a row over impartiality which disrupted sports programmes over the weekend. hello and welcome to bbc news. the us government says people and businesses who have money deposited at silicon valley bank, which collapsed last week, will be able to access all their cash from today. a statement from the us treasury and the federal reserve said depositors would be fully protected and said american taxpayer would not bear any losses from the move. the same guarantees have been given to account holders with signature bank of new york, which was badly hit by the turmoil and came under regulatory control on sunday. in the uk, the government has announced that hsbc will buy the uk arm of svb, meaning customers will be able to access their deposists and banking services as normal. here s the uk s finance minister. well, there was never a systemic risk to our financial stability in the uk. the bank of england governor made that clear