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Editorial 20.11.24


The rising tensions between Russia and the West, following Ukraine’s use of US-supplied long-range missiles to strike targets inside Russian territory for the first time, are splashed on the front pages this morning

The papers suggest the policy shift from the US president has escalated the situation in the West, and in response, Russian President Vladimir Putin has lowered the threshold for a nuclear strike. Many of the front pages fear a potential nuclear war on the horizon. 

Striking images of yesterday’s farmers’ protests in London find space on the front pages as do reports on the effects of the chancellor’s October Budget. 

Showbiz, the cold snap and sports make up the rest of the stories on the front pages today.

The back pages lead with the news Pep Guardiola has signed a one-year extension to his contract. 

‘Putin raised nuclear stakes’

‘Russia lowers threshold for nuclear strike on the West,’ says The Times.

The Times reports the Russian president has “raised nuclear stakes” by lowering the threshold for a nuclear strike on the West, following Washington’s approval for Ukraine to use their missiles. The paper says Putin has been weighing up altering his nuclear doctrine for several months. 

‘Fears of nuclear war after Ukraine hits Russia with American weapons,’ says the Mirror.

The Mirror worries about “fears of nuclear war” after Ukraine struck Russia with American weapons. The paper calls the Russian president a “tyrant” and says he invaded his neighbour “in a bloodthirsty land grab” and now Ukraine is fighting back with American weapons. 

‘Putin cleared the way for a nuclear strike,’ says the Daily Mail.

The Daily Mail warns that Putin has “cleared the way for a nuclear strike.” The paper says Ukraine firing US long-range rockets into Russia for the first time marks a “dramatic escalation on the 1,000th day of the conflict”.

‘Kremlin might retaliate with assassinations in Europe,’ says the FT.

The FT notes the Kremlin’s potential retaliations could include sabotage and assassinations in Europe.

‘US worried about Russia’s hybrid warfare strategy,’ says The Guardian.

The Guardian reports that the US is “incredibly concerned” about Russia’s hybrid warfare strategy. The paper says people briefed on discussions about Russia’s likely response say that potential hybrid attacks could include expanding “its campaign of sabotage and assassinations in Europe” or “further arming US adversaries in the Middle East and Indo-Pacific”.

‘Farmers’ protests over inheritance tax’ 

The Times, Daily Mail and Metro feature images of thousands rallying in central London. 

‘Badenoch warns policy will destroy farming industry,’ says the Express.

The Daily Express leads with opposition leader Kemi Badenoch’s warning that Labour’s tax policy will “destroy” the farming industry.

‘PM says most farmers would remain unaffected by the tax changes,’ says the Telegraph.

The Daily Telegraph covers Prime Minister Keir Starmer’s remarks at the G20 summit, where he claimed most farmers would remain unaffected by the tax changes. It also features an image of TV presenter Jeremey Clarkson, who owns a farm in the Cotswolds. He is one of the famous faces to join in the march at Westminster yesterday. 

‘Farmers warn protest is just start,’ says the Mail.

The Mail says protesting farmers have warned this is just the start against what it calls the “government’s inheritance tax raid.” 

‘Labour MPs privately concerned over Labour’s tax plans,’ says The Times.

The Times says Labour MPs have privately warned that the plans to raise inheritance tax risks hitting the “average farmer” rather than the intended targets. The paper says they are “non-farmers buying swathes of agricultural land to avoid inheritance tax.” 

‘They don’t vote for us anyway’ – some Labour MPs digging in over farmers tax,’ reports the i.

The i describes Tuesday’s protests as “farmer drama for Starmer.” The paper says it understands that Labour MPs in rural areas are lobbying ministers behind the scenes. The paper also notes that there are some insiders digging in over the protest, saying: “They don’t vote for us anyway.” 

‘100,000 retirees into poverty’

‘100,000 could be pushed into poverty due to winter fuel payment cuts,’ says the i.

The i newspaper warns that axing winter fuel payments for all but the poorest pensioners could push 100,000 retirees into poverty. 

‘Bank of England boss urges caution in reducing interest rates,’ says the FT.

The FT says the Bank of England governor urging caution in reducing interest rates amid employer national insurance hikes. 

James May@MrJamesMay
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I’m trying to follow the great farming debate but, as an economics illiterate, I’m baffled. If a farm has a nominal value of, say, £3m but generates an income of only c. £40k, how can it really be worth that much? This is not, bt dubs, a loaded question. I’m interested.
Carol Voderman
Carol Voderman@carolvorders
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Been having fun with this over on Bluesky 😂😂 Fancy woke fillings Daily Mail...bless em 🤷🏼‍♀️🙄
Zarah Sultana
Zarah Sultana@ZarahSultana
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In court, the government admitted UK-made F-35 parts risk being used in violations of international law & Israel isn’t committed to complying to international law. Yet the government has continued arms exports, breaching legal obligations & exposing itself to criminal liability.
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GKN Aerospace owner Melrose holds outlook despite supply chain challenges

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.

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Huel: Record sales as profit triples at brand backed by celebrities

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.

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Average price tag on a home falls as rate cuts spark demand revival

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.

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UK inflation set to jump above target in headache for Rachel Reeves

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.

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