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‘ Ace News Room U.K Daily News Desk ‘

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#AceNewsRoom With โ€˜Kindness & Wisdomโ€™ Sept, 23, 2022 @acebreakingnews

Ace News Room Cutting Floor 23/09/2022

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#AceDailyNews says here are today’s Newspaper Headlines: Economy in Recession says BOE as Chancellor hits ‘ Growth Button ‘ with ‘ Tax Cuts ‘ for everyone he says but it ‘ Rich Getting The Meat While Poor Will Get The Gravy ‘ if there is any left on the plate after the ‘ Gluttons Have Finished ‘ filling there faces Kindness & Love XX says ๐Ÿ™๐Ÿ™’s ‘ For Poor In Heart ‘ Amen

The Guardian front page
The majority of front pages focus on the difficult economic outlook the UK faces. The Guardian reports the Bank of England (BoE) has warned Chancellor Kwasi Kwarteng the country is already in recession, after the economy shrank for the second quarter in a row. The paper also notes the BoE hiked interest rates by half a percent on Thursday, continuing its efforts to reduce inflation.
The i front page
The increase in interest rates to 2.25% means millions are facing a significant rise in their mortgage payments, the i reports. The paper says Prime Minister Liz Truss and Mr Kwarteng are under pressure to prevent a “deep recession” with their “mini-budget” on Friday.
Financial Times front page
The Financial Times also focuses on the Bank of England’s interest rate hike, reporting that it has warned of a “further big increase” in November. It says the hike was “smaller than markets expected” and compared the move to the US Federal Reserve, which raised its rate by three-quarters of a percent to dampen inflation.
Daily Mail front page
The Daily Mail says Mr Kwarteng will reveal the “biggest tax giveaway” in 30 years as part of a move to break a “cycle of stagnation” in the British economy. The paper reports the government’s “growth plan” has 30 measures to “drive down taxation, tackle high energy bills and curb inflation”, which is currently running at nearly 10%.
Daily Express front page
Under the headline “Go for growth!”, the Daily Express also reports on what it calls the “biggest tax cuts in decades”. The paper says “not since Margaret Thatcher” will taxes have been slashed this much and notes Mr Kwarteng will “herald a new era for Britain” when announcing them in the House of Commons.
The Times front page
Calling it Mr. Kwarteng’s “ยฃ50bn gamble” over tax cuts, the Times reports the chancellor will say Britain must break the “vicious cycle of stagnation” and encourage economic growth. The paper says the announcement will also include 40 “investment zones” with lower tax rates, less strict planning rules, and what it calls “facilitated environmental regulations”.
Daily Telegraph front page
The chancellor has written a warning letter to the BoE’s governor over keeping inflation down, according to the Telegraph. The paper says Mr Kwarteng told Andrew Bailey claims soaring price rises are mainly caused by the war in Ukraine are less credible since the government announced plans to interval on rising energy prices.
“Back from death row” is the headline in the Metro, reporting on the release of five British people who faced execution in Ukraine after being captured by Russia. The paper says the men were freed after Saudi Arabia helped negotiate a prisoner swap between Moscow and Kyiv.
Sun front page
The Sun carries an exclusive claiming former Chelsea owner Roman Abramovich “played a key role” in negotiating the release. The paper says the Russian billionaire welcomed the five men onto a plane taking them from Russia to Saudi Arabia, giving them phones so they could contact their families.
Daily Star front page
The Daily Star references an iconic Dad’s Army scene by headlining “Don’t tell ’em your name, Pike”. The paper says “panicked Russians joined long queues” to flee the country and avoid being sent to Ukraine. Referencing a different – and rather more British – queuing story, the Star reports on the furore around Holly Willoughby and Phillip Schofield at the Queen’s lying-in-state.
Daily Mirror front page
The Daily Mirror leads with the killing of a 15-year-old boy in Huddersfield, who was stabbed to death outside his school. The paper says Khayri McLean was attacked as “horrified fellow pupils looked on” and died despite “desperate efforts” by a teacher to save him.

Many of the the front pages are looking ahead to the government’s mini-budget today.

“The biggest tax cuts for thirty years” is the headline in the Daily Mail, which says the plans aim to “drive down taxation, tackle high energy bills and curb inflation”. 

According to the Guardian, among the 30 measures will be “new investment zones and an acceleration of infrastructure projects”. 

The Financial Times says the cap on bankers’ bonuses will also be scrapped. While the Independent says environmental protections will be “torn up in huge swathes of the UK”. 

The Daily Telegraph reports Chancellor Kwasi Kwarteng will also announce two “rabbits out of the hat”, although it gives no more details. The Daily Mail speculates one could be a “1p cut in the basic rate of income tax next year”.

“Tax cut bonanza in bid to stop the economic rot” says the front page of the Times. Sources have told the paper the chancellor’s tax cuts could cost ยฃ50 billion. It described the plans as a “gamble”. 

But the Sun declares the changes will “boost the economy and make people better off within six weeks”. The Daily Mirror’s verdict is that it will be “a good day for the rich in the UK”. 

In the Financial Times, Labour’s shadow chancellor Rachel Reeves has criticised Prime Minister Liz Truss’s economic plans, writing that her approach “is discredited and inadequate, and will not unleash the investment she claims”. She says that “what the government is proposing is just another zigzag on a path of policy failure”.

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#AceNewsDesk report โ€ฆโ€ฆโ€ฆ..Published: Sept.23: 2022:

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