Storm Ashley will pull away to the northeast this morning, but it will remain blustery across the north, with heavy showers. Drier further south, with sunny spells. However, it will remain cloudy across southeast England with outbreaks of rain. Rain
Editorial 21.10.24
Monday’s front pages offer up a real variety of domestic and international topics, with ongoing coverage of Wes Streeting’s NHS plans and the upcoming October Budget finding the most prominent space.
Several publications report on the weekend Israeli assault on Gaza as well as reports of a leaked US document regarding Israel’s planned attack on Iran. Other international news making the UK front pages regard Moldova’s EU referendum and some very light coverage of the upcoming US election.
Back on home soil, the front pages cover the news of Sir Chris Hoyle’s terminal cancer diagnosis, ongoing tributes are paid to former 1D member Liam Payne and coverage of the weekend’s Premier League action.
The Guardian reports on Health Secretary Wes Streeting’s plans to transform the NHS. The paper says Streeting wants to give every NHS patient access to a digital “passport” containing their health records – despite concerns they might become a “target for hackers.”
Writing for the paper, Streeting seeks to reassure, insisting that all patient data will be “protected and anonymised”.
The Times says the government is working on a 10-year plan to “move care closer to home, digitalise services and prevent illness” and will not rule out charging patients for missing appointments.
The Daily Telegraph picks up on the possibility that Streeting’s NHS plan could see patients fined for missing appointments.
The Times lead reports Angela Rayner’s “council housing revolution” -with the help of almost £1bn from the chancellor in the upcoming Budget. The paper says Rayner will use the “boost” from the Treasury to build thousands of homes. The money is being considered a “down payment” ahead of bigger sums next year, the paper adds.
The Telegraph also reports on the budget suggesting the chancellor’s proposed changes to the inheritance tax have seen “economists from across the political spectrum” warn that the change is unlikely to raise more money for government coffers. The paper suggests changes to the tax could backfire and instead of raising money would “increase bureaucracy for thousands of bereaved families”.
The Daily Express continues to report on the winter fuel payments. It quotes a survey that suggests 84% of disabled pensioners will lose their winter fuel payments under Labour’s cost-saving measures and calls for the government to u-turn ahead of the budget.
The Guardian features a large image showing mourners in Gaza as they gather around a row of dead bodies – the latest victims of Israeli airstrikes in northern Gaza. The paper notes at least 87 people are dead or missing in the overnight attack which the paper labels a “ferocious renewed assault.”
The Times reports Israel has held “military drills” for a major airborne assault on Iran according to a leaked US document.
The Telegraph also leaves room to report on the leaked document saying Israel has accused the US of spying on them.
The Daily Express notes Hoy has said he is overwhelmed by the love from the public since he announced his terminal cancer diagnosis.
The Daily Mail notes his “courage” whilst the Metro calls him a “hero” and says supporters are rallying around him.
Sir Chris appears again on the Daily Mirror’s front page, with the paper focusing on the scale of public support the cyclist has received since revealing his terminal diagnosis.
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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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