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| | Treasury warns of tax rises to fill hole in public finances | |  | | | | | | | | | We're a little over a fortnight away from the government delivering its autumn statement, setting out plans for taxation and public spending. And after Prime Minister Rishi Sunak met Chancellor Jeremy Hunt to discuss the pressing issues facing the public finances, the Treasury has told the BBC it's inevitable everyone will need to pay more tax in the years ahead. Increases to the rates of income tax, National Insurance and VAT are understood to have been ruled out by the pair.
However, measures reportedly under consideration include ending the triple lock - the formula dictating the extent of the increase in the state pension - and stopping benefits rising with inflation, moves which could save the government up to £9bn. A Treasury source did not put a figure on what they called "the fiscal black hole", but the BBC has previously been told it may be at least £50bn. "It is going to be rough," the source said. "The truth is that everybody will need to contribute more in tax if we are to maintain public services." Few concrete details have emerged, but a Treasury source told the Daily Telegraph Mr Hunt is planning to fill the budgetary shortfall through a combination of 50% tax rises and 50% cuts to public spending. | | | | | |
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| | BREAKING NEWS | BP reports a £7.1bn profit for July to September - more than double the amount it made in the same period last year. | | | | | | |
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| | UK's £6m cyber-defence support for Ukraine | | | | | | | | | Satellite communications targeted, infected USB devices plugged into computers, attempts to knock infrastructrure offline... These are all examples of the ways Russia has been waging cyber warfare on Ukraine, according to UK security sources. And it can now be revealed how a British programme has been secretly helping Kyiv to fend off these attacks. The £6m package, including private-sector support, is said to have helped Kyiv withstand many of the attempts to take down systems. Russia has repeatedly dismissed claims it has carried out cyber attacks. But security sources say the attacks came in waves, accelerating as Moscow prepared to invade, then evolving through different phases of the war. Our security correspondent Gordon Corera has the details.
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| | Words of the year capture crisis-hit 2022 | | | | | | | | | It's an annual list that acts as a barometer of what's going on in the world. Collins Dictionary's 10 words or phrases of the year are intended to "reflect our ever-evolving language and the preoccupations of those who use it". Lockdown, climate strike, Brexit and fake news have all featured previously. And this year's list includes the terms quiet quitting - the practice of doing no more work than one is contractually obliged to do - and Partygate. But for the Collins team, the term judged to be the overall word of the year this time around "sums up just how truly awful 2022 has been for so many people". Find out what it is. | | | | | |
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| | | | | | | | | | | Blackouts would be a last resort this winter if energy supplies run low, National Grid has told the BBC. Boss John Pettigrew said its "base case" assumption was the UK would have enough supplies to meet heating and lighting demand this winter. He said the company was working on a number of scenarios to protect the country against any energy supply shortfall from Europe. The first option would be to increase supply by restarting mothballed coal-fired power stations.
The next step would be to pay households and businesses to reduce consumption during peak times, with short rolling regional outages a last resort. "If we saw that shortfall coming, the most effective way to manage the rest of the network is to ask the distribution companies to reduce demand and they would do that over that rolling period of around 4 to 7pm", said Mr Pettigrew. | | | | | | | | | | | | Simon Jack | | Business editor | | | | | | | | | | | |
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| | | | | | | The language used by Home Secretary Suella Braverman, in warning MPs the UK faced an "invasion" of migrants, comes in for scrutiny on front pages. The Times reports Conservative MPs' concerns her statement could fuel support for far-right extremists. The Guardian says Ms Braverman was "aggressively ramping up rhetoric" in a bid to "shore up her precarious political position". Meanwhile, the i says some cabinet members have started to privately question whether the home secretary is up to the job. The Daily Mail, however, says Ms Braverman was offering a "forthright verdict". Meanwhile, the Metro focuses on conditions at Manston migrant processing centre, using a photograph of some of the child detainees peering through a fence. | | | | | |
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| | | | | Asylum Under-fire Braverman pledges to fix "broken" system | | | | | | | Crush South Korea police admit response was inadequate | | | | | | | Twitter Musk dissolves board of directors | | | | | | | Books US court blocks Penguin merger with Simon & Schuster | | | | | | |
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| | If you watch one thing today | | | | | | | | | | |
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| | If you listen to one thing today | | | | | | | | | | |
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| | If you read one thing today | | | | | | | | | | |
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| | Need something different? | | | | | | | | | It's been a heck of a year for women's sport, which continues to make huge leaps in terms of spectator pulling power. After a record crowd for a Euros football match watched England's Lionesses win the 2022 tournament, the Women's World Cup opener in New Zealand set a new high for rugby union. And now a record crowd of up to 15,000 is expected when the Rugby League equivalent opens at Leeds' Headingley Stadium on Tuesday. Read why England forward Jodie Cunningham says the match against Brazil will be a real "pinch-me moment".
It's also a big day for reality TV fans... ITV show I'm A Celebrity... Get Me Out Of Here! has revealed the identities of this year's campmates. There's a Coronation Street favourite, an 80s pop legend and someone with pretty strong royal connections. See who's heading to the jungle. | | | | | |
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| | | | | 1990 Deputy Prime Minister Sir Geoffrey Howe resigns after disagreements over the Conservative government's Europe policy. | | | | | | |
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| | | Let us know what you think of this newsletter by emailing bbcnewsdaily@bbc.co.uk. If you’d like to recommend it to a friend, forward this email. New subscribers can sign up here. | | | | | |
