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#AceNewsRoom With ‘Kindness & Wisdom’ Oct.01: 2022 @acebreakingnews

Ace News Room Cutting Floor 01/10/2022

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#AceDailyNews says here’s todays Newspaper Headlines: Its all about Chancellor Kwarteng saying he will bring ‘ Spending Under Control – Having Him ALREADY Pledged Billions Putting People’s Pensions in Danger & The Pound Falling to Parity with U.S $ ‘ Not much control there so far and today PM Truss says No details of How – What ‘ Only When ‘ 7th Oct advices but not until ‘ END OF NOVEMBER ‘ any OBR forecast & Its Conference Time to tell the Tory Party who half 2019 under Boris have already left the ‘ Sinking Ship Blunder Truss ‘ and the next step is ….. Kindness & Love XX says 🙏🙏’s to God Now Amen

Daily Telegraph front page - 01/10/22 — Several front pages focus on the chaos in the UK financial markets. The Daily Telegraph reports the chancellor has vowed to publish a “credible” plan in November to reduce debt and steady the markets, which have been in turmoil since his mini-budget last week. In an article in the paper, Kwasi Kwarteng makes a “commitment” to bring government spending under control – and doubles down on his tax-cutting plans, arguing they may not be popular but “we had no other choice”.

Pensions watchdogs responsible for regulating a £1.5 trillion area of the sector which “came close to imploding” are holding daily talks with fund managers “to stave off fresh crisis”, the Financial Times Weekend reports. The paper says pension funds are concerned a UK government bond sell-off, which caused the chaos this week, will resume when the Bank of England’s £65bn rescue measures end.

“Tories rage at Truss” is the i weekend’s headline, reporting that recent polling suggests half of the 2019 Conservative voters have abandoned the party. This has caused “fury” among Tory MPs, with one former minister saying the prime minister was “finished”.

Banks have warned that UK house prices are facing a “slump” over the “rocketing cost” of mortgage payments, according to the Daily Express. Seven rate rises since last year have pushed up interest payments and there are concerns some could soon be paying “£5,000 more a year to keep a roof over their heads”, leading to a “wave of forced sales” and a broader fall in house prices, the paper says.

The Daily Star leads on the police search for Moors murder victim Keith Bennet, after potential human remains were found on Saddleworth Moor near Manchester, 58 years after he was killed by notorious serial killers Ian Brady and Myra Hindley.

The Daily Mail’s front page is also dedicated to the search, reporting that Keith Bennet’s family are hoping his body will finally be found. The paper says it was the “first dig in decades” carried out by Greater Manchester Police for the 12-year-old.

“Dig for the lost victim”, is the Daily Mirror’s headline, accompanying a picture of officers in protective gear searching for evidence on the moor. The paper reports that the search was launched after a writer claimed he had found the remains of a child of about Keith Bennett’s age.

The Guardian leads with an inquest’s “landmark” ruling that harmful posts on social media contributed to 14-year-old Molly Russell’s death. The paper reports that her father accused social media companies of “monetising misery” and leading her on a “demented trail of life-sucking content”. A coroner concluded that the teenager from London died in 2017 from an act of self-harm while suffering depression and the negative effects of online content.

The Times reports the Prince of Wales has “increased the pressure on tech companies and the government” over online safety regulation, following the coroner’s ruling. Prince William said “no parent should ever have to endure” what Molly’s family have and social media firms must not treat child safety as an “afterthought”.

ITV presenter Phillip Schofield has lost a £1m advertising contract with We By Any Car, according to the Sun. The paper says the company is shooting new ads next week without him and he “no longer appears on its website” following allegations he “jumped the queue” to see the Queen lying in state. Following the row, ITV said he was filming for a piece to be aired after the funeral and did not jump the queue.

Both Prime Minister Liz Truss and the Chancellor Kwasi Kwarteng have written articles defending their tax cuts. In the Sun, the prime minister insists she has “an iron grip on UK finances” and pledges to return to “sound money”, amid – as the paper puts it – fears that her borrowing plans are out of control. She also promises economic reforms including a reduction in childcare red tape, loosening of immigration rules for some struggling sectors, and deregulation of planning.

Writing in the Daily Telegraph, Mr Kwarteng says he will publish a “credible plan” in November to bring public spending under control. He says this will include a “commitment to spending discipline” with new fiscal rules and a blueprint to get government debt falling as a share of GDP. Mr Kwarteng also admits that not all measures in his mini-budget will be universally popular, but insists he had no other choice. The Telegraph says the comment is a sign that he will not reverse the abolition of the 45% top rate of income tax.

A number of papers highlight anger within the Conservative Party at the government’s economic policies. Both the Telegraph and the Times say some Tory MPs are talking to Labour to try to find a way to overturn the mini-budget. The Sun and the Daily Mirror say the prime minister will face a rebellion if she goes back on a promise to increase benefit payments in line with inflation, next year, while giving tax cuts to millionaires.

A former Conservative minister tells the i newspaper that a number of MPs have signed letters of no confidence in Liz Truss. Another senior Tory described the prime minister as “the Conservative Corbyn”. An editorial in the Daily Mail urges the Conservatives to “stick with Liz,” because her policies – from reducing energy bills to one of the biggest tax giveaways in history – are “commendable” and “defendable”. The Guardian, though, says the country needs better leadership. Finding a new Tory leader would be messy, its editorial says, but the alternative looks worse.

The Daily Express leads on a warning from the bank HSBC that rocketing mortgage payments could result in “mass forced sales.” The paper says that could cause a sizeable fall in house prices of 20% or more. The Guardian says protests against the rising cost of living are expected to be held today in Birmingham, Bradford, Brighton and London. The paper says some of those taking part are expected to set fire to their energy bills.

“Have they found Keith at last?” is the headline on the front of the Daily Mail which, like the Mirror and the Daily Star, leads on the new police search for the remains of Keith Bennett – the 12-year-old boy killed by the Moors Murderers in 1964. The sight of a blue police forensic tent on Saddleworth Moor is described by the Daily Mail as a “haunting reminder” of the horrors perpetrated by Ian Brady and Myra Hindley.

#AceNewsDesk report ………..Published: Oct.01: 2022:

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