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The Latest Breaking News from Pat McFadden

Banks should increase returns on savings amid interest rate rises, says top Tory

Harriett Baldwin, chairwoman of the Treasury Select Committee, suggested banks should take the step if they are also raising mortgage rates.

The Independent UK

Shapps says politics has ‘moved on’ from Johnson as he plays down talk of return

Johnson ally Sir Jacob Rees-Mogg has raised the possibility of the former prime minister standing for the Tories at the next election.

The Independent UK

Labour says ‘Tory mortgage penalty’ costs homeowners extra £7,000 a year

Opposition finds fallout of Liz Truss mini-budget has raised average mortgage interest payments by £150 a week in two years

The Guardian - UK

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Average homeowner pays £223 a week 'mortgage penalty' as interest rates triple

This equates to £7,000 a year and the the 'reckless economic gamble' taken by the Conservatives during September’s mini-Budget has been blamed

Wales Online

Keir Starmer: Diane Abbott’s racism comments were ‘antisemitic’

Ms Abbott had suggested in a letter to The Observer newspaper. that Jewish, Irish and Traveller people are not subject to racism ‘all their lives’.

The Independent UK

Keir Starmer ‘utterly condemns’ Diane Abbott’s comments as he vows to ‘tear out antisemitism by its roots’

MPs from across party tell Independent party should offer route back for veteran

The Independent UK

Labour officials will decide on Diane Abbott’s future, Pat McFadden says

The MP apologised for any ‘anguish’ caused, suggesting ‘errors arose’ in her initial draft letter to The Observer newspaper.

The Independent UK

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Labour leader Sir Keir Starmer brands Diane Abbott comments about racism ‘antisemitic’

Comments about racism made by Diane Abbott were “antisemitic”, Labour leader Sir Keir Starmer has said.

Evening Standard

Diane Abbott’s comments on racism were antisemitic, says Keir Starmer

Labour leader condemns MP’s letter but says decision on whether she will stand for party again must wait

The Guardian - UK

PM to kick off business conference aimed at boosting UK’s economic growth

Rishi Sunak said the Business Connect event would bring the UK’s biggest companies and investors together for ‘meaningful dialogue’.

The Independent UK

UK to be hit with fastest and harshest price rises in the G7

Forecasts show that prices for everyday goods are set to rise 40 per cent faster in the UK than any other major advanced economy

The Independent UK

Labour defends campaign attack on Rishi Sunak and his wife

Labour has defended its controversial attack adverts targeting the Prime Minister’s wife — with a shadow minister insisting the party would not be “slapped around”.

Evening Standard

Chancellor Jeremy Hunt’s pensions shake-up receives support from MPs

MPs voted 330 to 233, majority 97, in favour of the Budget resolution on the lifetime allowance charge and annual allowance.

The Independent UK

Labour steps up attack on Hunt’s pensions tax break

Shadow Treasury chief secretary Pat McFadden said the vast majority of people ‘will never get near a pension pot of more than £1 million’.

The Independent UK

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Daily Mirror

Officials 'must count cost' of climate change inaction to prevent 'drastic' debt rise

Ahead of the Budget, Pat McFadden, Labour’s Shadow Chief Secretary to the Treasury has called for officials to routinely publish data on the financial impact of failing to take action to hit net zero targets

The Guardian - UK

There is war in Ukraine. We have sanctions. So why would the UK Treasury help Putin’s brutal ally?

Claims that the boss of the Wagner Group, a key part of Russia’s military machine, was aided in a libel action must be run to ground, says shadow chief secretary to the Treasury Pat McFadden

The Guardian - UK

Labour asks why Treasury unit let oligarch under sanctions bring libel case

Key Putin ally who founded Wagner mercenaries attempted to ‘subvert sanctions and silence journalist’

The Independent UK

Labour urges probe into BBC chair appointment amid Boris Johnson loan claims

Labour has also written to the Parliamentary Commissioner calling for an investigation into the claims.

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Daily Record

Mick Lynch claims Tory anti-union laws show they have 'lost the argument' on pay

The Tories have been accused of wanting to "close down unions" with their plans to make it tougher for workers to strike.

The Independent UK

Rishi Sunak’s £150bn ‘stealth tax raid’ will cost families £5,000 each

Exclusive: Labour analysis of OBR forecasts reveals staggering cost of tax squeeze until 2028

Liverpool Echo

Millions to get more DWP Cost of Living payments and how much you'll get

The Chancellor has confirmed more financial support for the 'most vulnerable'

The Independent UK

UK stuck in ‘Tory doom loop’ of emergency budgets, Labour says OLD

Chancellor expected to unveil cuts and tax rises following Liz Truss failure

The Guardian - UK

Labour demand answers to Suella Braverman’s ‘growth visa’ leak reports

Rishi Sunak needs to clarify whether his home secretary’s security breach contained market sensitive data, Labour says

The Independent UK

No one thought mini-budget was a ‘bad idea’, senior minister admits

The Cabinet was not consulted on the doomed plan set out by Kwasi Kwarteng but no one in the top team thought it was bad.

The Guardian - UK

Liz Truss apologises for going ‘too far and too fast’ with economic changes – as it happened

Latest updates: In BBC interview, Liz Truss refuses say if her vision is ‘dead’ and vows to fight next election

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