6:31 am, September 30, 2026
Bank of England policymaker says raising interest rates ‘not compelling’
The case for raising interest rates is ‘not compelling’ unless energy prices stay higher for longer and have a bigger knock-on effect on the wider economy, a Bank of England policymaker has said.
Alan Taylor, a member of the Bank’s Monetary Policy Committee (MPC), played down the need for pushing up borrowing costs amid increased expectations that a hike is on the horizon.
Taylor’s remarks echo those made by the Bank’s governor, Andrew Bailey, on Monday, who said there was ‘no question we are seeing the direct effects of the energy shock’ but that the pass-through to the wider economy was currently ‘subdued’.
Scottish business confidence plummets, report finds
Business confidence in Scotland plummeted in September, the latest Business Barometer from Bank of Scotland has found.
Scottish companies reported lower confidence in their own trading outlook, down 15 points to 50%.
When taken alongside their economic optimism, down 24 points to 21%, firms recorded a headline confidence rate of 36%, a decrease from 55% in August. Despite the confidence dip, a net balance of 46% of firms expect to increase staff levels over the next year, up two points from last month.
Only Fools and Horses Reliant Regal set to make £40,000 at auction
A Reliant Regal Supervan III used in the filming of hit comedy series Only Fools and Horses is heading under the hammer at auction.
The 1969 Regal was one of several Reliants used in the long-running sitcom, though this van was the only one to be used in every one of the 13 episodes broadcast across the first two series in 1981 and 1982. It was even used in the opening episode ‘Big Brother’, as confirmed by the Reliant Motor Club.
With its ‘Trotters Independent Trading Co’ sign writing, the Regal was purchased by its current owner earlier this year, having previously spent time in a private collection and undergoing some ‘light restoration’, according to auction house Iconic Auctioneers. With an estimate of between £30,000 and £40,000, it’ll go udne the hammer on November 15.
The markets
The FTSE 100 fell sharply on Tuesday as US bond yields hit a 24-year high over fears that rising inflation will spark further interest rate hikes.
In London, the FTSE 100 index ended down 48.17 points, 0.5%, at 10,636.71. The FTSE 250 rose 39.49 points, 0.2%, to 24,374.81, and the AIM all-share firmed 2.80 points, 0.4%, at 786.16.
The pound was quoted at 1.3210 dollars on Tuesday, down from 1.3256 dollars at the same time on Monday. Against the euro, sterling eased to 1.1656 euro from euro 1.1658.
Triple lock overhaul ‘could help make state pensions more sustainable’
The triple lock ‘hot potato’ has finally been grasped, although the policy has helped to improve pensioner living standards and is particularly relied upon by people on low incomes, experts have said.
Prime minister Andy Burnham said that from April 2030, Labour plans to adjust the triple lock, which is used to increase state pensions each April. The state pension overhaul will help to fund a new National Care Service in England.
Under the plans, the state pension will continue to rise every year at least by CPI (Consumer Prices Index) inflation or 2.5%. The door would still be left open to it rising by more than this if needed in some years, so that the state pension holds its value relative to average worker earnings.
RAF Fairford suspect called police an hour before farmer raised alarm
One of the men arrested over a suspected terror plot near an RAF base used by the US called the police in the early hours of Sunday, it is understood.
A farmer from Whelford told the press earlier this week that she dialled 999 at 1.36am on Sunday after discovering three vans blocking a road near RAF Fairford in Gloucestershire. But it has now emerged that one of the suspects had called the police around an hour before, a development first reported by The Times.
Five British nationals, all in their mid-20s, were subsequently arrested on suspicion of explosives offences and terrorism before being released on bail on Monday.
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Weather
Heavy rain will sweep into the north this morning and the south will see patchier rain, reports BBC Weather. The rain will clear this afternoon leaving sunny spells and cloud.
Tonight, patches of cloud will cover Northern Ireland and western areas of Britain. Showers possible in the south.