2022-09-28
Guardian Front Page 28th of September 2022
The Guardian reports that Sir Keir Starmer has pledged to establish a publicly-owned energy company in his first year as prime minister.
The Guardian reports that Sir Keir Starmer has pledged to establish a publicly-owned energy company in his first year as prime minister.
During a test to prevent a doomsday meteorite collision with Earth, NASA successfully crashed a spacecraft into an asteroid.
By May, the Bank of England’s chief economist Huw Pill predicts borrowing costs in Britain will nearly triple to 6.25% as a result of the government’s new debt-laden economic plan.
According to The Independent, the Bank of England has said it will not hesitate to raise interest rates “as much as needed” after the pound plummeted following the chancellor’s mini-Budget.
Following Britain’s biggest mortgage lenders withdrawing fixed rate deals following the plunge in the pound, the Bank of England said it “will not hesitate” to raise interest rates.
A number of lenders have withdrawn mortgage deals as a result of the mini-Budget, according to The Daily Telegraph, anticipating a Bank of England rate increase to counter the turmoil facing the pound.
Daily Mail reports that speculators profiting from the plunging pound have sparked fury, despite the Treasury moving to reassure the markets.
After just three weeks in office, Chancellor Kwasi Kwarteng is alleged to have messed up the economy.
According to the Daily Mirror, the chancellor’s tax cuts plunged markets into chaos, causing further misery for millions of households.
The Daily Express, with the headline: ‘Don’t panic,’ reports that Chancellor Kwasi Kwarteng shrugged off Monday’s financial market jitters with a vow to lay out his debt-reduction plan.