6:44 am, October 11, 2022
Truss and G7 leaders to meet after latest Russian assault on Ukraine
Liz Truss will urge G7 leaders to remain steadfast in support of Ukraine during crisis talks on Tuesday following Russian strikes on Kyiv and other major Ukrainian cities.
The Russian attack on Monday, which left at least 11 dead and 64 injured, was launched by Moscow in retaliation for what Vladimir Putin claimed was a terrorist act carried out by Ukrainian special services on a bridge linking Russia with Crimea.
But in a sign of how seriously Western leaders are taking the Russian bombardment, Truss and her G7 counterparts will hold a virtual meeting later on Tuesday, with Truss also expected to call for a full meeting of Nato leaders in the coming days.
Kwarteng faces finding £60bn of public spending cuts, says IFS
Chancellor Kwasi Kwarteng will have to find spending cuts of more than £60bn if he is to meet his target to get the public finances back under control, a leading economic think tank has warned.
The Institute for Fiscal Studies (IFS) said it was not possible to deliver cuts on that scale through efficiency savings and ‘trimming the fat’ and that it would require major cuts to public services.
At the same time analysts said failure to come up with a credible plan that convinces the markets the government is committed to reducing its debt mountain could result in a worse crisis than 1976, when the Labour government was forced to seek a bailout from the International Monetary Fund (IMF).
Chancellor U-turns to agree to Halloween publication of economic vision
Chancellor Kwasi Kwarteng has bowed to pressure to bring forward the publication of his financial strategy and independent economic forecasts – to Halloween.
Completing another U-turn, Kwarteng agreed to set out his medium-term fiscal plan alongside Office for Budget Responsibility (OBR) predictions on October 31.
The chancellor had been resisting setting out the details ahead of November 23 after he set out his multibillion-pound package of tax cuts to be paid for by borrowing.
Supreme Court hearing on Scottish independence referendum plans to begin
Judges at the UK Supreme Court are to begin hearing arguments in a case which could allow the Scottish Parliament to legislate for a second referendum on independence.
On Tuesday morning, the panel of five justices will start hearing evidence from the Scottish Government.
Two days have been set aside for the hearing at the Supreme Court in London, with the UK government expected to respond on Wednesday. The case concerns proposed legislation at the Scottish Parliament called the Scottish Independence Referendum Bill.
First funerals of Creeslough explosion victims to take place
The first of the funerals of the victims of the service station explosion in Co Donegal will take place later.
Ten people, aged from five to 59, were killed in the tragedy in the village of Creeslough on Friday.
Separate funeral services for fashion designer Jessica Gallagher, 24, and Martin McGill, 49, who was originally from Scotland, will be held at St Michael’s church in Creeslough on Tuesday.
Hospital nurse accused of murdering seven babies ‘constant malevolent presence’
A hospital nurse accused of murdering seven babies and attempting to murder 10 others was a ‘constant malevolent presence’ in their care, a jury has heard.
Lucy Letby, 32, allegedly used various means to attack the youngsters, including insulin poisoning and injecting air into the bloodstream, while working at the Countess of Chester Hospital’s neo-natal unit.
On Monday, she went on trial at Manchester Count charged with the murders of five boys and two girls, and the attempted murders of another five boys and five girls between June 2015 and June 2016. The prosecution opening will continue on Tuesday.
The latest Car Dealer Podcast is live
The team chat about Marshall and Vertu’s results, unreliable Teslas and James Batchelor’s ego
Price inflation buoys shop sales as cost-of-living woes hit shoppers
Retail sales grew last month on the back of price rises while sales volumes continued to shrink, according to new figures.
The latest BRC-KPMG retail sales monitor for September showed that price inflation offset a decrease in transactions by shoppers over the month.
It came as separate spending data from Barclaycard reported an increase in sales but highlighted growth slowed further as consumer spending was further strangled by cost-of-living concerns. The BRC-KPMG report revealed that total retail sales increased by 2.2 per cent in September, rising slightly from one per cent growth in August.
Public spending watchdog to investigate so-called ‘festival of Brexit’
The public spending watchdog will investigate the government’s so-called ‘festival of Brexit’ amid concerns that visitor numbers were less than one per cent of early targets.
A cross-party parliamentary committee has asked the National Audit Office (NAO) to look into how the £120m project was managed to ‘help get to the bottom of how so much taxpayer money could be frittered away for so little return’.
In August, Politics Home reported that the festival – which is supposed to evoke the spirit of the Great Exhibition of 1851 and the 1951 Festival of Britain – had received 238,000 visitors compared with organisers’ initial ‘stretch target’ of 66m. But the organisers say those figures ‘misrepresent the public engagement’ and reflect attendance at only eight of 107 physical locations within the event’s programme.
Monday Car Dealer headlines you might have missed
- Used Car Awards 2022: The Nominations List is revealed
- Lookers becomes latest dealer to sell Chinese EV GWM Ora Funky cat
- Car Dealer Power Awards 2022: Premieres on Wednesday at 6.30pm
- Automotive industry facing increased demand for green recycled parts in response to cost-of-living crisis
- Revealed: The used car prices that went up the most in September
- Polestar on course to build 50,000 cars despite Covid shutdowns
- Ineos announces huge pre-tax losses as firm looks to go head-to-head with Land Rover
- Bristol Street Motors Carlisle Vauxhall helps to raise £5,000 with charity football challenge
Three-quarters of UK business struck by labour shortages – survey
Businesses hit by labour shortages have urged the government to relax immigration policies to help temporarily fill roles, a new survey has found.
Three-quarters of businesses said they have experienced difficulties filling vacancies and a shortage of workers, according to the Confederation of British Industry’s (CBI) employment trends survey with recruitment agency Pertemps Network Group, conducted in August.
This has had a knock-on effect on firms’ operations with nearly half admitting they have been unable to meet output demands as a result. And more than a third of businesses affected by a slimmer workforce said they have had to reduce or make changes to the products or services they offer.
JLR teams up with Plugsurfing for new electric charging service
Jaguar Land Rover (JLR) has introduced a new charging service for its customers with electric and hybrid vehicles.
Developed through a partnership with charging specialists Plugsurfing, Jaguar Charging and Land Rover Charging will give access to over 300,000 points in 26 European countries. Buyers will be given an RFID charging card, as well as the ability to use either the Jaguar or Land Rover Charging app.
The service includes over 700 separate charging point operators, including Osprey and Ionity, and brings users one centralised point through which charging can be selected and paid for. There are three tariffs available; Pay-As-You-Go, Gold or Platinum, with the latter two coming with a monthly fee of £4.26 and £8.50 respectively.
Weather outlook
A chilly start today but it’ll be dry with sunny spells in the south, while in northern areas cloud will build bringing in showers, reports BBC Weather.
Cloud and rain will continue to move into northern and western areas tonight. Dry and clear in the south although it will turn cloudy.
