INSUBCONTINENT EXCLUSIVE:
Rishi Sunak won an endorsement from financial markets in his first days as prime minister, and even some favorable polling numbers from the
delivers what could be its biggest interest-rate hike in more than 30 years, and the government looks to fill the multi-billion hole in the
challenge for Sunak, who put economic competence and integrity at the heart of his pitch to voters
Despite the turmoil caused by his predecessor Liz Truss, polling for the Observer last weekend showed Sunak and his party have overturned
confronted with the economic reality of soaring borrowing costs and the risk of a prolonged recession
Those dangers could be laid bare by the BOE on Thursday, when it presents economic forecasts along with its latest rate decision
Economists and investors expect the UK central bank to raise its benchmark lending rate by three-quarters of a percentage point to 3% on
3 -- the highest since 2008 and the biggest single increase in 33 years.
Households are already paying more for new mortgages, and
businesses are complaining about the rising cost of credit
But instead of being in a position to offer long-term aid and policies to boost growth, Sunak is scrambling to cut spending and restore the
backtracking on a 2020 plan to revert to pre-Covid levels of international development spending, while the Sun said some Cabinet ministers
are pushing for a tax on non-UK citizens who live overseas and own property in Britain.
The Financial Times said Sunak is considering
getting rid of an energy revenue cap plan proposed by his predecessor and instead expanding a windfall tax on producers, while the Times
due tomorrow, means economic decisions can be slightly deferred for now, questions about the home secretary are becoming increasingly
pressing.
Sunak has come under fire for reappointing Braverman from both the opposition Labour Party and some Tory allies
Sunak reappointed her six days after her resignation when he replaced Truss.
The BBC reported that prior to acknowledging the breach,
Braverman sent an email to the initial recipient of the information asking the person to delete and ignore the message
It also reported it may have been hours before she reported the security breach.
Cabinet minister Michael Gove defended her reappointment
He said that making more details public could itself be a threat to national security, but that he was glad Sunak gave Braverman a second
A Border Force migrant centre was attacked with fire bombs Sunday
No one was injured, though the attacker killed himself after throwing three fire bombs, Reuters reported.
The home secretary said Sunday
the incident was distressing and she was receiving regular updates.
The attack came a day after almost 1,000 migrants are estimated to have
successfully crossed the channel, the highest daily number for weeks
Nearly 40,000 have reached the UK so far this year
Asylum processing centres are overwhelmed, and David Neal, the chief inspector of borders and immigration, told MPs last week that he was
that she had failed to act on the warnings about Manston, but acknowledged in an interview with Sky News that the situation at the centre
