Author: News Desk

Yield on 30-year UK government bonds plummets as chancellor prepares to reverse more of Kwarteng mini-budget UK government borrowing costs fell sharply and the pound rallied after Jeremy Hunt announced he would bring forward some of his debt-cutting plans in an attempt to smooth over turmoil in financial markets. In a surprise statement early on Monday, the chancellor said he would make a statement to the Commons to announce some of the measures from the government’s medium-term fiscal plan two weeks ahead of time. Continue reading… ​Yield on 30-year UK government bonds plummets as chancellor prepares to reverse more of…

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Daily Express – D-Day for PM: Will more U-turns save our economy? Summary of the front page The prime minister has “all but abandoned Trussonomics” in a “desperate bid to save her premiership”, the Daily Express reports. The Express has been the strongest supporter of Truss since the ousting of Boris Johnson – the paper is now asking if more U-turns on the controversial mini-budget can “save our economy.” It comes following reports that the chancellor plans to delay PM Truss’s flagship 1p cut to income tax by a year. The paper says the PM is facing “D-Day” with another…

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Estate agents Foxtons says an average of 29 renters competed for each property in September The average rental in London hit a record £553 a week last month with almost 30 applicants vying for each property, as landlords cashed in on soaring demand and a lack of new properties coming on to the market in the capital. The average rental price in September eclipsed the previous record of £549 set in June, according to the latest data from the estate agents Foxtons, with the fight for property sparking bidding wars, “auditions” and landlords demanding six months to a year rent…

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