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The Latest Breaking News from Torsten Bell

We’ve avoided recession for now, but the outlook is one of perma-gloom

December’s GDP was boosted by us all cranking up the heating. Actual economic growth has not looked so weak in decades

The Guardian - UK

Families facing ‘groundhog year’ as financial squeeze continues – think-tank

Family finances face a repeat of 2022’s squeeze as the cost-of-living crisis deepens, the Resolution Foundation has warned.

The Independent UK

UK unveils emergency budget amid big demands but little cash

Just three weeks after taking office, British Prime Minister Rishi Sunak faces the challenge of balancing the nation’s budget while helping millions of people slammed by a cost-of-living crisis

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Letters: nurses need a little nurturing

No wonder they are leaving the profession: nurses don’t expect to be rich, they just want to feel valued

The Guardian - UK

Change of prime minister is likely to delay UK’s fiscal plan

Credibility of economic event could be in doubt if it is launched on Halloween, just a few days into new leader’s tenure

The Guardian - UK

Austerity cuts could be as deep as 2010, experts warn as energy bills set to hit £5,000

Chancellor Jeremy Hunt leading push for ‘austerity season two’, says Labour

The Independent UK

EU proposes joint gas buying and curbs on energy price spikes – business live

European Commission proposes mechanism to cap “excessive and volatile” gas price moves, and to let member countries start jointly buying gas

The Guardian - UK

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Warning to expect £4,000 energy bills after Jeremy Hunt scrapped price cap

Even middle-income homes would not be able to afford the new bills

Wales Online

Liz Truss U-turn will send taxes to highest levels since 1950s

But economists warn more pain yet to come with spending cuts

The Independent UK

Spending cuts of up to £40bn expected after Liz Truss announcement

U-turns have filled less than half the £62bn ‘black hole’ created by Kwasi Kwarteng

The Independent UK

Economists fire back after Rees-Mogg tries to pin blame on others for mini-budget chaos

Senior Conservative says it was all down to Bank of England’s failure to raise interest rates in line with the US

Wales Online

Benefits will hit lowest level in 40 YEARS if Liz Truss's cut goes ahead

The Resolution Foundation said real-terms benefits could be at their lowest level since the early 1980s - as ex-Chancellor Sajid Javid said a cut wouldn't be 'social justice'

Daily Mirror

Mini-budget will not lead to promised growth, leading economists tell MPs

Economic confidence in UK seriously undermined by Kwarteng and Truss’s ‘guerrilla tactics’, Commons committee hears

The Guardian - UK

Fitch predicts deeper UK recession; mortgage rates climb – as it happened

Kwasi Kwarteng brings forward release of debt-cutting plan, as Bank of England announces new measures to support pensions sector through crisis

The Guardian - UK

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Daily Mirror

Solemn 'no cuts' promise Liz Truss made 3 months ago - that she's now set to break

This morning Chancellor Kwasi Kwarteng refused to rule out a return to Tory austerity after a humiliating tax U-turn - but in July Liz Truss unequivocally told The Mirror that her plans would not involve slashing services

The Guardian - UK

BBC apologises after technical glitches mar Liz Truss interview

Blackout during PM’s appearance on Sunday with Laura Kuenssberg prompted social media quips about ‘interference’

The Independent UK

Markets treating UK like ‘developing country’ after Kwarteng budget, warns ex-US Treasury chief

Current turmoil ‘hallmark of situations where credibility lost’, says Larry Summers

The National (Scotland)

'Richest 5 per cent to get richer while 95 per cent get poorer' under Tory plans

THE Tory government's huge package of personal tax cuts amid the cost-of-living crisis will do nothing to stop more than two million people falling…

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news in one place.

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Wales Online

‘Only the very richest’ in Britain will see incomes grow, tax cut analysis says

Chancellor's huge package of personal tax cuts will do nothing to stop more than two million people falling below the poverty line, says think tank

The Guardian - UK

‘A budget for the 1%’: government accused of huge tax cut for super-wealthy

Kwasi Kwarteng’s measures benefit the rich at expense of struggling families, say critics

The Independent UK

Truss plans ‘skew support’ to richest households, warns Resolution Foundation

There is a case for a ‘solidarity tax’ to recoup some of the cost from those who can pay more, said the think tank.

The National (Scotland)

Rich to get 'twice as much' support to help with cost-of-living, think tank claims

RICH households will receive twice as much support to help with the cost of living than poorer ones, a think tank has said.

The Guardian - UK

Risk of gaps on UK supermarket shelves if small firms collapse, food sector warns

Head of Food and Drink Federation tells MPs that soaring costs mean industry faces ‘really difficult winter’

The Independent UK

‘Simplistic’ Liz Truss warned her VAT cut will ‘crash the public finances’

Institute for Fiscal Studies attacks ‘worrying’ idea – amid fresh confusion over likely next PM’s plans for energy crisis

Manchester Evening News

The cheapest petrol prices in every Greater Manchester borough

Oldham has some of the cheapest fuel prices in Greater Manchester

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Institute for Fiscal Studies

Joseph Rowntree Foundation

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Trades Union Congress

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Food and Drink federation

12 stories

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