think is a mistake. i believe in it so that we are going to get there but we are going to get there in decades and not overnight. between now and then we are still going to need oil and gas and if we had got supplies in the uk it seems to me absurd not to use those because it will create jobs and also nick improves our energy security and reduces inflation. we have seen what happens when energy dictators hold us to ransom, so cutting off our own supplies of energy seems short sighted policy and it would the situation worse. on public sector pay, low value public sector workers, they do an incredible job, the nhs or the teachers, for example, and of course everyone would like to be paid more, but i have got to be cognisant of what we can afford and what is responsible and it would be dishonest to say, i m going to borrow money so i can give you a generous pay rise and make my life easier for a give you a generous pay rise and make my life easierfor a bit but knowing full well
bills will come down about £430 starting injuly, good news, hopefully we are over the worst and they will keep coming down. but we need to make sure this doesn t happen again and they keep coming down, so we need to have more energy, so we are investing more in renewable energy, building more nuclear power stations, but also making sure that we beget more energy here at home that we will needin energy here at home that we will need in the next few decades as we transition to cleaner future, so we are investing in that also. is another area, weekly shop, gone up far too much in the past three months, especially. we are looking at the supermarket, making sure they are behaving responsibly unfairly when it comes to pricing all those products to make sure we are easing the burden is on your weekly shop. when it comes to jobs, most of you probably reading the paper that businesses everywhere really need people to work at the moment, and they are finding a hard to find them, almos
which strips out volatile items like food and fuel is actually going up! rising interest rates are piling the pressure on millions of mortgage borrowers here in the uk who are facing steep rises in monthly bills. lets hear from some of them. at this moment in time, at the end ofjune, i will make my final payment of £434 when my current deal ends. and thereafter i have been told to expect my payments will be over £1,800. i m currently paying £560 a month. at the end ofjuly, it will go onto variable, and it will go up to £1,200 a month. 0ur mortgage has gone up by over £2,200 a year. - it s a huge impact . on our expenditure, and it has a huge impacti on the family as a whole. the government s finance chief chancellor of the exchequerjeremy hunt says bailing out struggling borrowers only risks stoking inflation further no matter what the pressure from left, right or centre, we won t be pushed off course. because if we re going to help families, if we re going to re
leave interest rates unchanged in june. leave interest rates unchanged injune. charles lieberman, who has worked at the new york fed and is now chief investment officer and advises capitol management explained the rationale. rationale. the fed has tightened rationale. the fed has tightened monetary i rationale. the fed has - tightened monetary policy quite dramatically quite quickly, basically a phase with five percentage point increase in a little more than a year. and thatis little more than a year. and that is huge. historically it is an enormous increase. and i think there is a loss of there is one view that the feds should wait to see the impact of what they ve done. any should wait to see the impact of what they ve done. any break ma be of what they ve done. any break may be short of what they ve done. any break may be short lived. of what they ve done. any break may be short lived. us - may be short lived. us inflation are still running well above the feds
hanging over america s head, but because of the good work of president biden as well as democrats and the house and democrats and the house and democrats in the senate, we are not defaulting. democrats said from the start and we must take default of the table. for a long time republicans, many republicans in the house resisted, house republicans ready to take default hostage in order to pop as a radical heritage to gender that never could have passed with the american people. so tonight s outcome is very welcome news for our economy and for american families. i sank my colleagues for the good work tonight. i commend president biden and his team for producing a sensible compromise under the most difficult circumstances. so many of the destructive provisions in the republican bill are gone. senate majority leader chuck schumer there, welcoming the outcome of the vote and praising the work of democrats. our north america correspondent jessica parker has been following this. t