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A cloudy start for many, with drizzle over the hills. Some bright or sunny spells developing at times through the day. The increasing risk of heavy showery rain in the south and west though the evening. Warm in the south.

Editorial 16.10.24


Wednesday’s front pages continue their coverage of the upcoming October Budget with the papers continuing to speculate over whether the chancellor will introduce a national insurance increase. Other domestic political stories make the lead with the Conservative leadership race being a popular topic as the race narrows down. 

Elsewhere, several of the papers report Prime Minister Keir Starmer and his wife met Taylor Swift during one of her London concerts as the row over why the American singer was given a blue-light escort continues. 

Images of Thomas Tuchel are splashed on many of the front pages – and all the back pages – after it emerged he is set to become the new England manager.

Economists warn chancellor ahead of Budget 

‘Chancellor accused of hypocrisy,’ writes the Telegraph.

The Daily Telegraph says the chancellor has been “accused of hypocrisy” after admitting that increasing National Insurance for employers would hit workers’ pay.

‘Reeves found £40 billion funding gap,’ reports the FT.

The FT says Reeves has “identified a £40bn billion funding gap” as the Treasury seeks to close the gap, which is bigger than expected, with tax rises in the Budget. 

‘Economists issue warning to chancellor ahead of Budget,’ says the i.

The i newspaper says the chancellor has been warned by economists, Labour MPs and the Budget watchdog that a national insurance rise “will hit workers”. The paper says the chancellor has signalled she plans to increase employer contributions and that doing so “would not break Labour’s manifesto pledge on taxes.”

‘We’ll end the scandal that left thousands of carers in debt,’ leads The Guardian.

The Guardian leads on a different political story. The paper says the Secretary of State for Work and Pensions Liz Kendall “vows to end scandal that left thousands of carers in debt”. 

‘Ministers to vote on assisted dying laws,’ is the lead story for The Times.

The Times leads on the upcoming Commons vote on assisted dying laws. The paper says the terminally ill could be helped to end their own lives under the new proposed law. 

‘Dame Rantzen asks public to back the push for a change to assisted dying laws,’ writes the Express.

The Daily Express also leads on the assisted dying bill. The paper speaks to Dame Easter Rantzen, who has stage four lung cancer. Rantzen calls on the public to back the campaign on assisted dying and help change the “cruel law”.

‘PM believes weight loss jabs for unemployed with help save billions for the NHS,’ says the Metro.

The Metro leads on the prime minister’s support of weight loss jabs for people out of work. The PM is quoted saying “I think these drugs could be very important for our economy and for health.” The paper reports that both the health secretary and prime minister believe it can save billions for the NHS.

Thomas Tuchel new England manager

‘Fussball kommt nacht hause – Football’s Coming home’ – most papers react to Tuchel’s appointment.

The Telegraph has an image of Tuchel wearing lederhosen and holding a stein of beer.

The Sun says “fussball kommt nacht hause” – German for “football’s coming home”. 

The Daily Mirror calls him “the new Kaiser chief.” 

‘Dark day for English football,’ writes the Mail which argues the job should have gone t oan English manager.

The Daily Mail calls his appointment a “dark day for English football.” “We are the laughing stock of the world, it says, calling the appointment a “blind leap of faith on a man who may be more trouble than he is worth”.

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Reeves hails £63bn boost for Britain at flagship investment summit

Ministers have hailed £63bn worth of investment into the UK that was unveiled at the government’s investment summit in the City today.

The figure, which includes a number of investment projects announced in recent weeks, covers a range of industries and sectors from clean energy, life sciences, data centres and aviation.

Prime Minister Sir Keir Starmer began the high-powered summit with a speech to CEOs and investors in which he deployed the word ‘growth’ a total of 24 times.

“I am determined to do everything in my power to galvanise growth,” he vowed, as he reiterated his ambition for the UK to secure the highest sustained growth among G7 nations.

Closing the summit last night Chancellor Rachel Reeves said: “The decisions that lie ahead will not always be easy, but by making the right choices – to grow our economy, drive investment, we will create good jobs and new opportunities across every part of our country.”

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UK inflation expected to fall below two per cent target

UK inflation out this week is tipped to fall below the Bank of England’s two per cent target for the first time in more than three years, according to economists.

Official data from the Office for National Statistics, due to be released on Wednesday, is expected to show annual consumer price inflation fell to 1.9 per cent in September from 2.2 per cent in August.

That would be the first time inflation has fallen below target since April 2021, and will likely add to calls for UK ratesetters to lower borrowing costs at their next meeting in November.

Both the European Central Bank and US Federal Reserve have loosened monetary policy more aggressively than the BoE after positive news on inflation, with the ECB expected to make its third rate cut in four months on Thursday.

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Wage growth eases again in boost for rate cut hopes

Wage growth eased in line with expectations, new figures show, helping to pave the way for further interest rate cuts this year.

According to the Office for National Statistics (ONS), pay growth excluding bonuses eased to 4.9 per cent in the three months to August, down from 5.1 per cent previously.

This was in line with expectations and the slowest rate of pay growth since June 2022.

Including bonuses, annual wage growth fell to 3.8 per cent, down from 4.0 per cent and slightly ahead of the 3.7 per cent expected by economists.

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