far enough away that they thought they would have enough time to get rid of the leader and get a new one in. at the moment, they are not quite sure whether or not that period is going to be allowed. so now, moving sooner rather than later might be better for the conservatives. that is what mps say. thank you forjoining us. some breaking news coming in to us via reuters that hundreds of workers at the port of liverpool, one of britain�*s largest container ports, we�*ll strike for two more weeks over pay and jobs. that is from the unite union. nearly 600 workers in the port will walk out from the 24th of october until november the 7th, 0ctober until november the 7th, according to unite. the headlines on bbc news... the chancellor cut short a visit to the us to return to downing street for urgent talks over his mini budget. it comes amid mounting speculation the government may be about to roll back its tax cut plans following turmoil in the markets.
perhaps positioning, that's what a lot of market participants are saying, was the reason for the strong rally. investors unsure of where we go from here. we're looking out for u.s. bank earnings. they'll all deliver their latest quarterly results. so we'll keep an eye on what they have to say about the outlook if here. >> plenty of red out in the futures board at least at this particular moment. european markets though jumped this morning on speculation that the uk government might do a u-turn on the controversial tax plans. what would a reversal look like from this embattled government? >> this is a huge development. at the moment it's just reports. so what we know so far, the uk chancellor cut his visit to washington, d.c., short for urgent talks with the uk
absolutely have to do to stay in business, what we're going to see is the price of goods in the shops increasing. the chancellor cut fuel duty by 5p in march and prices fell a bit, but they've now risen again, hitting a series of fresh record highs. the wholesale price for a barrel of oil has gone up again lately, although it's not as high as it was in march soon after russia invaded ukraine. so, why are we seeing new records on uk forecourts now? experts say it's down to a combination of an unfavourable exchange rate, rising global demand and sanctions on russia. 25% of our diesel in the uk was actually russian—refined diesel. we don't have the refining capacity, and nor does the whole of europe, to make sufficient products of refined product such as petrol, diesel and jet fuel, and so that has really pushed the refined products much, much higher than crude. "brutal petrol hikes". labour called on ministers
is the price of goods in the shops increasing. the chancellor cut fuel duty by 5p in march and prices fell a bit. but they have now risen again, hitting a series of fresh record highs. the wholesale price for a barrel of oil has gone up again lately, although it is not as high as it was in march, soon after russia invaded ukraine. so why are there new records on the forecourts now? experts say it is a combination of an unfavourable exchange rate, rising global demand, and sanctions on russia. 25% of our diesel in the uk was actually russian refined diesel. we don't have the refining capacity, and nor does the whole of europe, to make sufficient products of refined products such as petrol, diesel and jet fuel. and so that has really pushed the refined products much higher than crude. labour has called on ministers
business, we will see the price of goodsin business, we will see the price of goods in the shops increasing. the chancellor cut fuel duty by 5p in march, and prices fell a bit, but they've now risen again, hitting a series of fresh record highs. the wholesale price for a barrel of oil has gone up again lately, although it is not as high as it was in march, soon after russia invaded ukraine, so why are we seeing new records on uk forecourts now? experts say it is down to a combination of an unfavourable exchange rate, rising global demand and sanctions on russia. 25�*s exchange rate, rising global demand and sanctions on russia.— and sanctions on russia. 2596 of our diesel in the — and sanctions on russia. 2596 of our diesel in the uk _ and sanctions on russia. 2596 of our diesel in the uk was _ and sanctions on russia. 2596 of our diesel in the uk was actually - diesel in the uk was actually russian refined diesel. we don't have the refining capacity, and nor does the whole of europe, to make sufficient products of refined products such as petrol, diesel and jet fuel, so that has really pushed the refined products much higher than crude. the refined products much higher than crude-— than crude. labour called on ministers — than crude. labour called on ministers to _ than crude. labour called on ministers to tackle - than crude. labour called on ministers to tackle what - than crude. labour called on ministers to tackle what it i than crude. labour called on - ministers to tackle what it called
tomorrow. we need to strengthen our public finances so that when the next crisis comes to be had for fiscal space to act. and tension as the chancellor cut taxes and froze due duty on fueljust days before the government hosts a climate conference in glasgow. this seeming generosity is completely straightforward. there were chairs for the chancellor allowing some families on universal credit to keep more of their cash even though it wont what many more already lost. this is a £2 billion tax cut for the lowest paid saying it's preparing the uk for a post—covid era of optimism. homosexuality this was a high span, high tax budget not that you'd believe it listening to this.... government has limits. governments should have limits. if this seems a controversial statement to make then
budget confirms the conservatives are the real party of public services. are the real party of public services-— are the real party of public services. ,, . . ., are the real party of public services. ,, . . . , ., , services. quite a claim, given years of tory squeeze. — services. quite a claim, given years of tory squeeze, and _ services. quite a claim, given years of tory squeeze, and tension - services. quite a claim, given years of tory squeeze, and tension as - services. quite a claim, given years of tory squeeze, and tension as the chancellor cut taxes on some flights and froze duty on fueljust days before the government hosts a climate conference in glasgow. but this seeming generosity is not completely straightforward. there were wild cheers for the chancellor, allowing some families on universal credit to keep more of their cash, even though it will not cover what many more have already lost. this is a £2 billion — many more have already lost. this is a £2 billion tax _ many more have already lost. this is a £2 billion tax cut _ many more have already lost. this is a £2 billion tax cut for _ many more have already lost. this is a £2 billion tax cut for the _ many more have already lost. this is a £2 billion tax cut for the lowest - a £2 billion tax cut for the lowest paid workers in our country, it supports working families, it helps with the cost of living and it rewards work.— with the cost of living and it rewards work. , . , ., , , rewards work. this was a high spend, hiuh rewards work. this was a high spend, hi . h tax rewards work. this was a high spend, high tax budget. _ rewards work. this was a high spend, high tax budget, not _ rewards work. this was a high spend, high tax budget, not that _ rewards work. this was a high spend, high tax budget, not that you - rewards work. this was a high spend, high tax budget, not that you would l high tax budget, not that you would believe it from this. but government has limits, government _ believe it from this. but government has limits, government should - believe it from this. but government has limits, government should have| has limits, government should have limits. if this seems a controversial statement to make,
so whether it is for the police, the courts, health, defence or any other kind of public service, whitehall�*s wallet will be more generous to every corner of government in the next three years. there will be a real terms rise in overall spending for every single department. if anybody still doubts it, today's budget confirms the conservatives are the real party of public services. quite the claim, given years of tory squeeze, and tension as the chancellor cut taxes on some flights and froze duty on fueljust days before the government hosts a climate conference in glasgow. but this seeming generosity isn't completely straightforward. there were wild cheers for the chancellor allowing some families on universal credit to keep more of their cash, even though it won't cover what many more have already lost. this is a £2 billion tax cut for the lowest—paid
today, i am publishing a new charter for budget responsibility. a new gimmick, but a return of rules to get national debt on the way down as a share of the economy, and for tax, not borrowing, to cover daily costs. but out in the real world, the damage to the economy from the pandemic is smaller than expected. so whether it is for the police, the courts, health, defence or any other kind of public service, whitehall�*s wallet will be more generous to every corner of government in the next three years. there will be a real terms rise in overall spending for every single department. if anybody still doubts it, today's budget confirms the conservatives are the real party of public services. quite the claim, given years of tory squeeze, and tension as the chancellor cut taxes on some flights and froze duty on fueljust days before the government hosts a climate