Author: James Carter

The Budget watchdog expects 1.14 million homes to be added over this Parliament, and ministers are blaming the Iran war, interest rates and construction costs Labour is on course to fall well short of its pledge to deliver 1.5 million new homes this Parliament, according to a new forecast from the Office for Budget Responsibility (OBR). The watchdog expects 1.14 million homes to be added to Britain’s housing stock over the five years, and has cut its estimate for the next five years by 190,000. Housing Secretary Angela Rayner admitted in September there was only a “slim chance” of hitting…

The Home Secretary’s concession on care workers, and a campaign by MPs and unions, took much of the sting out of the Commons response, though the retrospective element remains Most Labour MPs held back from sharp criticism on Monday after Home Secretary Shabana Mahmood announced a softened version of the government’s plans to tighten settlement rules for migrants. Care workers who arrived before May 2025 and earn at least £25,000 a year will still qualify for settlement after five years. About 500,000 people will now face a longer wait, against around 800,000 under the original proposals. The rules still apply…

Douglas DePodesta says he was made a ‘scapegoat’ after the collapse of the Broadview Six prosecution, in a lawsuit that names the FBI director, the attorney general and Chicago’s top federal prosecutor Douglas DePodesta, who ran the FBI’s Chicago field office until July, has sued the Department of Justice (DoJ), alleging he was pressured to open politically motivated investigations and then blamed when a high-profile case against anti-ICE protesters fell apart. The suit, filed on Monday, accuses US Attorney Andrew Boutros of “intentionally” misleading a judge and of campaigning for DePodesta’s removal. It names FBI director Kash Patel and attorney…

With the Reserve Bank of Australia widely expected to raise rates again on Tuesday, the Prime Minister is at a Commonwealth summit in the Caribbean while Treasurer Jim Chalmers faces the fallout at home The Reserve Bank of Australia is widely expected to raise interest rates by another quarter of a point on Tuesday, just as Prime Minister Anthony Albanese is overseas. Writing in a column, political commentator Peter van Onselen argues that Treasurer Jim Chalmers should not be left alone to explain the consequences for households. He says Mr Albanese has the final say on spending and savings, and…

The former Bank of England deputy governor says early regulation matters as digital assets edge towards the mainstream, while the FBI blames North Korea for the largest crypto theft on record Sir Jon Cunliffe, the Bank of England’s former deputy governor, has said Britain needs “guard rails” for cryptocurrency following last week’s $6.3bn hack of Binance, the world’s largest crypto exchange. He argued that the technology is growing and will move closer to the mainstream banking system. Binance is not authorised or operating in the UK, and Sir Jon said the mainstream financial system could not yet be destabilised by…

Cash machine operator Link reports record average withdrawals on a Saturday and Sunday as households are urged to prepare for disruption, though it says the data does not prove why people are taking out more Average cash withdrawals hit record levels after the Government launched its “Be Ready” campaign urging households to prepare for emergencies. The ATM network Link said the typical withdrawal on Saturday 24 October was £95, the highest for any Saturday since its records began in 2014, up from £90 the week before. The figures follow ministers’ advice to keep essentials, and some notes and coins, in…

Reform UK’s leader plans an announcement on Thursday and says a Reform government would replace the leadership of the museum, though the law gives ministers less direct control than the pledge implies Nigel Farage is expected to name Reform UK’s first defence spokesman on Thursday, as the party tries to recover ground in the polls and puts the armed forces at the centre of its pitch. The Reform leader has also told the Mail on Sunday that, in government, he would replace the leadership of the Imperial War Museum (IWM), which he accuses of “wokery”. The announcement comes as Prime…

The Chancellor told Channel 4 News it was “not correct” to say the welfare bill will fall this Parliament, after Downing Street distanced itself from his morning remarks Chancellor John Healey has pulled back from a suggestion that he would reduce the welfare bill before the next election. Reports say he made it in broadcast interviews on Thursday morning. Downing Street later said no such commitment had been given, and Prime Minister Andy Burnham said there was no “timetable” for cuts. Mr Healey told Channel 4 News it was “not correct to say we are going to bring the welfare…

The Prime Minister says he and the Business Secretary want to know why a possible rescue was turned down, as directors file to appoint administrators and unions, MPs and rival retailers circle the discount chain Prime Minister Andy Burnham has spoken for the first time about the crisis at Poundland, saying the Government wants jobs protected and is “ready to support the workforce”. The retailer’s directors filed a notice of intention to appoint administrators on Thursday, putting up to 12,000 jobs and around 600 stores at risk. Mr Burnham and Business Secretary Jonathan Reynolds are demanding to know why an…

Google’s parent company fell on a negative cash-flow shock and a Search revenue miss. It is the second-biggest daily market-value loss on record, behind Nvidia’s. Shares in Alphabet, Google’s parent, fell by more than 12% on Thursday, its worst day on record, wiping about half a trillion dollars off its value. Associated Press put the fall at roughly 12.6%. It is the second-biggest daily market-cap loss ever, just behind Nvidia’s $593bn on 27 January 2025. Analysts called it a reminder to tech firms not to miss earnings forecasts while investors are nervous about lofty valuations, especially in artificial intelligence (AI).…