Today: Low cloud and fog across England and Wales lifting to leave many areas dry with bright or sunny spells. One or two showers developing. Thicker cloud giving patchy rain across the far north and west of Scotland. Windy here
Editorial 23.10.24
Wednesday’s front pages continue their coverage of the acquittal of Martyn Blake, the Met police officer who shot Chris Kaba in 2022.
Since the end of the court proceedings, the newspapers can report on Chris Kaba’s extensive criminal history – including reports that he shot a man just days before his death. Kaba was reportedly part of a notorious London gang, and the police officer now has a bounty put on his head.
Other domestic stories make up the rest of the leading news today with ongoing speculation over the upcoming budget and water companies planning to hike bills. Scrutiny of domestic politics and stories on the NHS also find space on the front splashes.
The back pages provide coverage of the English clubs in the Champions League both winning their matches last night.
The Metro reports that Kaba was named as the gunman in a nightclub shooting a week before he was shot and killed. On Tuesday, the judge in Officer Martyn Blake’s trial lifted restrictions that prevented reporting on Kaba’s criminal history while the trial was ongoing. The gang Kaba was part of has put a £10,000 bounty on the cops head, the paper adds.
The Daily Mail says Blake now faces a “lifetime under threat” noting he has had to flee his home. The judge in the case has extended a ban on the publication of Blake’s address, photos or even descriptions of his appearance.
The Daily Telegraph coverage of Kaba features in the sidebar. The paper reports despite being acquitted Blake may still lose his job for gross misconduct.
The Guardian says the National Police Chiefs’ Council has asked the government to make it harder for officers to be investigated and prosecuted over incidents like that in which Kaba died. The paper quotes campaigners calling the move an attempt to secure “effective immunity” for officers.
The home secretary is expected to make an announcement on speeding up a review of how police are held to account.
The Times says Met police commissioner Mark Rowley wants cops to be exempt from criminal charges unless prosecutors show they deliberately departed from their training.
Despite his acquittal Blake is still likely to face gross misconduct proceedings that could end in his dismissal, which would add to “resentment among firearms officers,” the paper adds.
The Independent says water companies are asking for bills to be “jacked up” higher than first indicated earlier this year. The paper asks what justification they have to hike bills up by 84% – saying they are raising prices to deal with the sewage spills they created and cover the fines they incur due to the spills.
The i says water regulator Ofwat faces being axed with politicians and the public losing confidence in the company following the mass illegal sewage dumping in the UK’s waterways. The paper says the UK and Welsh governments are launching a commission to “consider radical reform” of the water industry, adding that ministers have ruled out nationalisation.
The Guardian reports that water companies in England could be banned from making a profit in a planned overhaul of the sector.
The Times says public sector workers “will be protected from Rachel Reeves’ planned tax raids on employer’s pensions contributions, whereas private sector staff face lower wages and less money in retirement.”
The Daily Express reports on Labour’s prison early release scheme saying dangerous criminals are being let out of prison early. The paper says violent criminals are thanking the prime minister for early release.
The Daily Mirror leads entirely on The Pride of Britain Awards as the prime minister met with the winners – who outlined how he could help support their causes. The PM is quoted as saying: “I’ll do my best for you”.
The Daily Telegraph leads on the Alzheimer’s wonder drug which regulators have ruled as being too expensive for NHS use. The paper says research has suggested the drug can slow the disease by 35% but looks to be only available through private clinics.
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Government borrowing overshot official projections in September, which is a sign of the difficult fiscal position that the Chancellor faces as she puts the finishing touches on her first tax and spending budget.
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Melrose Industries said it is on track to hit looming profit targets despite the industry-wide supply chain challenges plaguing the aerospace sector.
The Birmingham-based manufacturer said this morning it expects adjusted operating profit of between £550m and £570m this year and £700m in 2025.
In an update to markets, Melrose flagged a seven per cent year-on-year rise in revenue, driven by a 17 per cent jump in its Engines division.
Aerospace manufacturers, particularly the major planemaker’s Airbus and Boeing, have struggled to meet a significant ramp-up in post-Covid demand from their airline customers, as a result of long-running supply chain problems.
Huel, which counts the likes of Idris Elba, Steven Bartlett and Jonathan Ross among its investors, has reported record sales as a profit almost tripled during its latest financial year.
The Hertfordshire-headquartered company, which is known for its vitamin-enriched food items, has reported a revenue of £214m for the 12 months to 31 July, 2024, up from the £184.5m it achieved in the prior 12 months.
Huel’s pre-tax profit also jumped from £4.7m to £13.8m over the same period, according to new figures.
The business said its products are now sold in 25,650 stores, up from 11,250.
The average price tag on a newly marketed home dropped by over £5,000 in November as buyer demand revived in the wake of the Bank of England’s recent interest rate cut.
According to Rightmove, the standard price for a newly marketed home currently sits at £366,592, a 1.4 per cent month-on-month drop.
That downward trend is steeper than usual, with a typical November fall being around 0.8 per cent.
Rightmove said its data indicated that a fall in buyers approaching estate agents following the Autumn Budget, had been offset by a rise in buyer demand after the Bank of England lowered interest rates to 4.75 per cent in only the second cut this year.
UK inflation is expected to have jumped above the Bank of England’s two per cent target in October, bolstering a cautious approach to cutting interest rates in the months ahead.
A more gradual easing of monetary policy would be a headache for the new government, which has tried to reassure markets that last month’s big-spend Budget will boost economic growth without leading to runaway inflation.
Economists forecast the consumer price index (CPI), due on Wednesday, to come in at 2.2 per cent for last month, up from 1.7 per cent in September.
Higher energy prices are expected to drive the increase, with regulator Ofgem hiking its price cap on household bills by 9.5 per cent last month.
The Chancellor Rachel Reeves warned that financial regulation had “gone too far” last night as she pledged to rip up red tape and put the City watchdogs on a growth footing.
In her maiden Mansion House speech in the Square Mile, Reeves said that regulatory measures brought in since the financial crisis in 2008 have looked to “eliminate risk” and had “unintended consequences” in hampering growth.
“We cannot take the UK’s status as a global financial centre for granted,” she said. “In a highly competitive world we need to earn that status and we need to work to keep it.”
Reeves has laid out a package of reforms aimed at driving competition across financial services and unlocking a wave of capital from the UK’s pension system.
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