Peruvian colossal. Peruvian colossal. And well have a sports roundup with aiden. Yes thats right. Good morning to you, stuart. Abroad. Could he be following up his ashes success with an appearance in strictly an arsenal suffer a major injury blow just ten days before the start of the premier League Season and whats the weather going to look like today . Hello there bright today. Today a mixture of sunny spells and scattered heavy showers. Find out exactly where with me sooii. 500. Soon. Good morning to you. Im stephen dixon. And im ellie costello. Costello. And this is breakfast on gb news. News. Fancy bit of cake. This morning. Will you pay for it . Morning. Will you pay for it . Well, you could find yourself in hot water if you ask for a load of free cakes. So thats exactly what happened to the corrie actress Catherine Tyldesley. Her agent emailed a bakery and essentially asked for 100 cupcake acas a large birthday cake and a small birthday cake and a small birthday cake and a small birthday cake for free in exchange for exposure, exposure, exposure and sharing it on the actresss instagram page, which i believe has about 700 followers. Now this little this little bakery has posted the messages, but now its all being denied. No, wed pay you. Wed pay you. It says on the messages they wouldnt pay it. Theyd just get some pr this woman anyway , its some pr this woman anyway, its the response from the bakery is brilliant. So really sorry to brilliant. So really sorry to hear your client hasnt got enough money to pay for cakes. Hard times. Hard times. So its, you know, so its great. But anyway, catherine, chelseas fought back saying she knows nothing about it , chelseas fought back saying she knows nothing about it, and shes very upset that reporters have knocked on her door because she has children. But she also she has children. But she also said and this is i think this could be what she regrets. She also says on the instagram thing, i hope the bakeries happy with all the publicity they were craving. They werent after any publicity. Thats the point. Publicity. Thats the point. Well, those emails, steven said, that were shared by the bakery, the three little birds bakery in West Yorkshire. They have gone viral. Their response have gone viral. Their response to that request, lots of Small Businesses actually sharing those emails, saying that this happens to them all of the time. Celebrities and influencers asking for handouts, essentially asking for handouts, essentially asking for handouts, essentially asking for freebies. So were asking for freebies. So were asking this morning, have influencers gone too far . Do they ask for too much . I mean, these are people who are probably on very large salaries themselves, arent they . Do wonder and you do wonder because and weve got to be honest, when youre on telly, you do get some freebies and occasionally you do ask for the odd freebie. I think theres a difference, though , theres a difference, though, when its if you ask a big, Big Companies have budgets set aside for it because its all pr , for it because its all pr, right . Its pr, so they have budgets set aside for it and is that different to asking for something from a small, a small store actually. I mean, what use is a whole load of pr going to be to the three birds bakery . Yeah im not going to be sending stuff out world wide, are they . Well, it does just feel all pretty tone deaf, doesnt it . Greedy greedy and a cost of greedy and greedy and a cost of living crisis to ask a Small Business. Do 100 cupcakes. A big cake and a small cake. I mean, thats a days work, is it not . Yeah for nowt. A small yeah for nowt. For a Small Business. Yeah, for now. Exactly we do. Let us know what you make of that story. It is a pretty big one online at the moment. Vaiews gbnews. Com. Interesting though. You havent got many celebrities saying anything about it. Why is that . Probably will do it. Probably will do it. They all do it. But as i say, weve got to youve got to be a bit careful because i said ive had free things offered and taken them. Ive got a free bag of dog food the other day. Oh, did you. But but it was offered. It was offered. And sometimes businesses actually really want you to to, take their things. So in exchange. Yeah. You know , so weve got yeah. You know, so weve got to not be hypocritical with this, but its a legitimate question. On gb views the question. On gb views the gbnews. Com to our top story now and the bank of england is poised to raise Interest Rates for the 14th consecutive time today as it fights to take back control of inflation. Well, signs do suggest that inflation is coming down, with policy makers set to opt for a quarter rather than a half point rise. Rather than a half point rise. If we know all that at this stage, why do we have to wait till 12 00 for the announcement . Its like we sort of know whats going happen. Going to happen. Very true, isnt it . Its very true, isnt it . Yeah, you say that with a yeah, you could say that with a lot things in this business. Lot of things in this business. I think when we get a copy of a speech hours before it actually is said. Anyway, for is said. Anyway, joining us for more is reform uk advisor ben habib. You habib. Really good to see you this morning. Good morning, ben. So are expecting that 14th so we are expecting that 14th rise in a row from the bank of england at midday, but inflation is coming down. It is it really needed . Its well, its coming down very slowly. But your question is spot on. You know, weve had 13 Interest Rate rises. And one 13 Interest Rate rises. And one of the things about the way the british economy acts at the moment is that its much slower to react to Interest Rate rises than it used to be. When i was a young man. In those days, most people borrowed money on floating rate Interest Rate. So you immediately felt the impact of an Interest Rate rise in your back pocket, you know, with your mortgage bills going up. But nowadays most people are on fixed Rate Mortgages , so it fixed Rate Mortgages, so it takes a while for the transmission of Interest Rate increases to impact the economy and to kerb demand. And theres and to kerb demand. And theres and to kerb demand. And theres a real risk here to that. The bank of england is going to overdo it. And i think the governments all already preparing us for it because theyre talking about the country needing potentially to go into recession in order to get inflation back under control. You talked about tone deafness. Can you control. You talked about tone deafness. Can you imagine what thats like for the electorate to hear when youve got a cost of living crisis, your mortgage bills are going through the roof. 5. 9 Million People on universal credit and the government saying, well, actually, know, bit of actually, you know, a bit of necessary medicines are going to be recession. Great terrific. Be a recession. Great terrific. Its not what we need, is it . Look, with all of this, theres always been the argument with this that this doesnt work anyway because this the inflation ocean that were experiencing at the moment is because of things that we have no choice but to buy. Absolutely right. The inflation were experiencing is not because weve had a demand led boom in the economy with everyone going mad, buying new sofas and housing the inflation weve got is a direct result of lockdowns. The breaking of supply chains, the breaking of Labour Markets, the pushing up of Energy Prices and thats all nothing not raising Interest Rates will have zero impact on all those costs, including most pertinently food , which, you pertinently food, which, you know, which we all know. Surprise, surprise , need to surprise, surprise, need to consume in order to survive. So is this a case of the bank of england just doing something to look like its doing something rather than having any tangible effect apart from causing more misery . , you know, its a really well, you know, its a really good question. Who argue there are people who argue that all the printing of money that all the printing of money that took place during the pandemic has caused this inflationary boom. I dont think personally , i dont think thats personally, i dont think thats the case. Its not a matter of excess cash in the economy. I think youre absolutely right. Its the breaking of the supply chains and breaking of Labour Markets. Et cetera. Thats markets. Et cetera. Thats caused this inflationary bout. I caused this inflationary bout. I think the bank of england could possibly have done much less and be in the same position in the economy, would be in the same position that its in now. The bank of england, of course, is laying on even more pain, about which were not aware. You know, which were not aware. You know, it owns about 40 of all Government Debt. Government debt now is about 100 of gdp, just over £2 trillion. And about £900 billion of that is owned by the bank of england. And in order to balance its own books, its selling some of that debt into the market, which is raising the cost of funding for the government, raising the cost of funding for us in the economy as well. So its almost doing two things to slow us down, taking cash out of the economy by selling government bonds as well as raising Interest Rates. And i think they will overdo it. You know, in my life, ive never known a central bank to get it spot on. They always overdo stimulus when they when they need to stimulate the economy. Need to stimulate the economy. And they always overdo constraining the economy when they need to constrain it. They need to constrain it. Iea has said that bank the iea has said that bank should hold off. It should wait for these previous Interest Rates to take effect before raising them any further. It says its going to inflict more economic damage doing things this way, is that something youd agree with . I completely i completely agree with that. And the other thing that , you know, is allied thing that, you know, is allied to that is that the government is completely out of ideas of how to grow the economy. You know, we could all deal with inflation more easily if our businesses were growing, if our wages were growing and we were flourishing. But were not and were caught in a kind of doom loop where the cost of living is very high, Government Debt is very high, Government Debt is very high, Government Debt is very high, taxes are very high, andifs very high, taxes are very high, and its not paying to work. Weve got this broken Labour Market that i mentioned, company is are not investing because theyre being taxed very highly rich. Sunak made all that rich. Sunak made all that fanfare last week of issuing a new 100 new licences for drilling gas in the north sea , drilling gas in the north sea, but very few of those gas licences are to going be used because oil , licences are to going be used because oil, oil and Gas Companies are taxed at 75 of their profits. Theres no incentive for them to go in and make the investment required to extract that oil. And as and gas. And, of course, the other thing that we havent touched on, which i will touch on now, just since were on the north sea, is the embed ad cost of our energy. You know , weve had energy. You know, weve had weve had completely hopeless or absence of any energy policies, absence of any energy policies, a coherent Energy Policy for the last 25 years. And so weve ended up turning our back on nonh ended up turning our back on north sea oil, which would have provided a plentiful supply of domestic fossil fuels, turning our back on that, championing this this drive to net zero and renewables way ahead of the technology being ready for it. And of course all of that is very costly for the economy. Embeds an inflation damper on growth and continues that doom loop and in terms of growth, then because that is so essential to get us going, how do we stimulate growth . Because nobody seems to have i mean, look , at least the i mean, look, at least the labour party had some sort of policy with the green growth agenda, whatever they were calling it, though theyve scaled back on that. Scaled back on that. The 28 billion, the 28 billion, yeah. They say we cant afford that. Now, within within the Current System with this government, i mean, thing government, i mean, one thing which being really badly hit which is being really badly hit is housing market, is is the housing market, which is a key growth, key stimulus for growth. So thats been really hit that. So how do hit and all of that. So how do we start push growth in this country . Well, i mean, there are a number of things would do number of things that i would do straight the first is to straight away. The first is to take lower wage earners out of the tax net completely. Id raise the threshold on paying tax to 20,000 a year rather than the 12. 5, which is where its at. Its got to pay to work. Weve got to get those 5. 9 Million People who are partially surviving on universal credit, some of them entirely. I surviving on universal credit, some of them entirely. I think about 2. 5 million entirely surviving on universal credit back the workplace. If they back into the workplace. If they get into the workplace, you get back into the workplace, you automatically growing automatically have a growing economy. Youve got to cut taxes economy. Youve got to cut taxes on business. And weve got to deregulate. Theres been a big amount spoken about esg , amount spoken about esg, environmental, social and Corporate Governance regulations. You know , the regulations. You know, the reason nigel farage was banked, but the other side of the esg coin is that its a huge burden on businesses. Coin is that its a huge burden on businesses. People often say on businesses. People often say to me, youre a brexiteer. What to me, youre a brexiteer. What would you which regulations do you want so desperately ditch . Well, ill give you one esg ditch it. Its a huge burden on business. We need to take the regular , dilatory knee as it regular, dilatory knee as it were, off the neck of the private sector. We need to cut taxes on the private sector. We need to cut taxes on the working middle classes. And weve got to get the organism, the economic organism moving forward again. And at the moment, were in this doom loop where the governments looking at its deficit thinking, oh my goodness , cant oh my goodness, we cant cut taxes because afford to taxes because we cant afford to do it. We cant borrow more because we cant afford to do it. Cant spend much more. It. We cant spend much more. And know where and they just dont know where to theyve got the to go. Theyve got to have the courage of knowing that cutting taxes , deregulating will taxes, deregulating will stimulate the economy. And when the economy grows, actually their tax take will automatically grow. Just briefly then id hate to say it, i sort of i sort of really do hate to say it. That sounds like trussonomics it is trussonomics. And i want one more thing i want to talk about on trust. She was absolutely right. She understood what was required , understood what was required, hired, and at the same time that she was unveiling her mini budget or indeed the day before the bank of england was briefing against her, talking about a recession, the bank of england was selling gilts. About a recession, the bank of england was selling gilts. Do england was selling gilts. Do you remember i mentioned the bank of england was reversing some of the purchases it had made of government bonds , and as made of government bonds, and as it selling those gilts , it it was selling those gilts, it created the Pension Fund Crisis that all that was all blamed on. On liz truss, the bank of england didnt like. Liz truss agenda and it decided it was going to defenestrate her. And this might sound all most on the verge of Conspiracy Theory. It verge of Conspiracy Theory. It isnt. If you look back and you see what the bank of england did in the days running up to liz truss mini budget and immediately thereafter they almost conspire to make her her plan fail. Ben habib, good to talk to you this morning. Talk to you this morning. Thanks very much indeed. Thank you. Oh, that went on longer than i was expecting thing. But it was interesting, wasnt it . Really interesting. Really, really interesting. Really, really interesting. View you know youve got a view if you know how solve our problems or how to solve our problems or what youd to see happen. Vaiews gbnews. Com. Yeah. Or if youre coming off a fixed Rate Mortgage at the moment, do let us know how youre feeling about that. Or indeedif youre feeling about that. Or indeed if youre if youre a saver, have those savings been passed on to you . Are those rates benefiting yet . Are rates benefiting you yet . Are you feeling that . Do let us know. Gb gb news. Com now. Gb views gb news. Com now donald trump has hit back at prosecutors just hours before his Court Appearance later on today charges of trying to today on charges of trying to overturn the results of the 2020 election. Well , the former president well, the former president said the indictment was unprecedented and showed the corruption of the biden presidency. Well, its the third time in four months hes been charged with something, as he, of course, is campaigning to regain the presidency in 2024. And meanwhile , his son, and meanwhile, his son, donald jr spoke to nigel farage last night questioning the timing of the indictment. You know , i dont believe any of know, i dont believe any of this has anything to do with january 6th. If it did and if january 6th was everything that they said, why, why, why, nigel, did they wait two and a half years to charge