Chancellor tells Britons he is ‘preparing for the worst’ as debt interest to be £20bn-30bn higher than spring
The chancellor has warned the British public he is preparing “for the worst” as he draws up his autumn statement.
Jeremy Hunt told Sky News the Office for Budget Responsibility’s (OBR) official economic forecasts would be considerably worse than at the budget – a signal there may be spending cuts or possibly even tax rises ahead.
“I am very much hoping for the best but I do need to prepare for the worst because I think we can see that the world is a very dangerous place right now,” he said.
“The numbers are definitely worse than what I faced in the spring.
“Debt interest is likely to be £20bn to 30bn higher this year than was predicted in spring. So yes, it’s a very challenging environment in the short term.”
The comments, delivered on the fringes of the International Monetary Fund’s annual meetings in Morocco, are particularly significant because the Treasury has now seen the OBR’s projected economic forecasts which will feed into next month’s autumn statement.
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Chancellor Jeremy Hunt is “hoping for the best” but “preparing for the worst” when preparing for the autumn statement.
Referring both to the events in Israel and the ongoing war between Russia and Ukraine, Mr Hunt said: “from the point of view of the British economy, we have to recognise that the world is an unstable place.
“Gas prices are four times higher than they were before the invasion of Ukraine. And it isn’t just what’s happening in Israel – we have the biggest war in Europe that we’ve seen in our lifetimes. Here in Africa, there is instability just a little bit further south, over the border from Morocco.
“So when we are managing the British economy, we have to be very prudent with our public finances. Be very careful not to overextend with reckless borrowing because we need the economy to be resilient.
I’m very optimistic about our long term future, but in the short term, we have to recognise that there may be shocks.”
The chancellor’s comments come amid speculation the UK may slip into a shallow recession in the coming months, as higher interest rates continue to put pressure on household finances.
However, the IMF conference has been overshadowed by news of the atrocities in Israel and the fightback from Israeli forces.
Mr Hunt said: “This is the most appalling, brutal, murderous terrorism that I think I can remember seeing in my adult lifetime.
“There have been absolutely gruelling pictures. And I think we have to make sure as a world that we are absolutely united in our condemnation because of what has happened.
“And I think it reminds us, unfortunately, that all this horror is not something that humanity’s put behind us.”
Fresh appeals have been made for information on what would have been the 20th birthday of Ellis Cox, who was shot dead in Liverpool last June.
A number of people have been arrested in connection with the murder at Liver Industrial Estate, but no one has been charged yet.
The 19-year-old’s family and police have paid tribute to him and called for those with information to come forward.
He was shot in the back after a confrontation between his friends and another group of up to three males on Sunday 23 June.
Ellis Cox who was shot dead in June 2024. Pic: Merseyside Police
His mother Carolyn paid tribute in an appeal to coincide with what would have been his 20th birthday.
“He was so kind… so laid back, so calm, so mature for his age. And he was just funny. Very funny.
“He was my baby… no mum should have to bury a child. He was my life. And I don’t know what to do without him.”
Mum Carolyn Cox (left) and aunt Julie O’Toole (right) are looking for answers
Meanwhile, his aunt Julie O’Toole said he was “the sort of person I think you’d be hard pressed to find anyone to say anything negative about. He was loyal, fiercely loyal… everything was about his family”.
To pay tribute to Ellis, Liverpool City Council will be lighting up the Cunard Building and Liverpool Town Hall in orange on Saturday.
DCI Steve McGrath does not believe Ellis was involved in criminality
Detective Chief Inspector Steve McGrath, the senior investigating officer, spoke about the information gathered so far, six months on from Mr Cox’s murder.
“I’m satisfied that the group that he was with was probably the target… and I would say that’s got something in relation to do with localised drug dealing in that area. But Ellis had no involvement in that whatsoever,” he said.
He added that police are looking for “really significant pieces of evidence now”, including “trying to recover the firearm that was used in relation to this, looking to recover the bikes that were used by the offenders”.
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Mrs Cox also appealed for people to come forward with information.
“If you know anything, don’t let us get to [his] next birthday and still know nothing.
“We need to get justice for Ellis. And we need to get the people who took him from us off the streets.”
UK
Reward of £20,000 offered to identify parents of three siblings abandoned as babies over eight years
A £20,000 reward is being offered for information that leads to the identification of the parents of three siblings found abandoned in London over eight years.
The Metropolitan Police said that despite more than 450 hours of CCTV being reviewed, the parents of the three children, known as Elsa, Roman and Harry, remain unidentified.
However, it is believed their mother has lived in an area of east London “over the past six years”.
Elsa was believed to be less than an hour old when she was found by a dog walker on 18 January last year, in East Ham, east London.
In the months that followed it was found that she had two siblings who were also abandoned in similar circumstances, in the same area of London, in 2017 and 2019.
On Saturday, police said the independent group Crimestoppers had offered a £20,000 reward for information passed to the charity, which will expire on 18 April.
Detective Inspector Jamie Humm, of the Met’s child abuse investigation team, said: “We have carried out extensive inquiries over the past year to try and locate Elsa’s parents.
Baby Roman. Pic: Met Police/PA
Read more from Sky News:
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“This has involved reviewing over 450 hours of CCTV and completing a full DNA structure of the mother.
“We have serious concerns for the wellbeing of the parents, especially the mother, and are continuing to work closely with Newham Council and appeal for the public’s help for information.
“I believe that someone in the area will have been aware of the mother’s pregnancies and that within the community there may be (or) have been concerns for this mother’s welfare.
“Thanks to the DNA work of forensic colleagues, police will be able to eliminate any unconnected person quickly and easily, as such I would ask you to contact police with confidence.”
The baby was found at the junction of Greenway and High Street South in Newham. Pic: PA
Elsa was found wrapped in a towel in a reusable shopping bag, of which police have also released a new image, and was kept warm by the dog walker. She was uninjured.
Police said at the time that it was “highly likely” that she was born after a “concealed pregnancy”.
The Boots bag in which Baby Elsa was found abandoned by a dog walker in Newham on 18 January 2024. Pic: Met Police/PA
The BBC reported that at an initial court hearing, East London Family Court was told it took doctors three hours to record Elsa’s temperature because of the cold, and the Met Office said that temperatures dropped to as low as -4C on the night she was found.
Hospital staff named her Elsa in a reference to the character from the film Frozen.
The police investigation into the identity of the children’s parents continues, and anyone with information is asked to call police on 101 or post @MetCC ref Operation Wolcott.
People can also contact Crimestoppers anonymously at any time on 0800 555 111 or via Crimestoppers-uk.org.
Fresh appeals have been made for information on what would have been the 20th birthday of Ellis Cox, who was shot dead in Liverpool last June.
A number of people have been arrested in connection with the murder at Liver Industrial Estate, but no one has been charged yet.
The 19-year-old’s family and police have paid tribute to him and called for those with information to come forward.
He was shot in the back after a confrontation between his friends and another group of up to three males on Sunday 23 June.
Ellis Cox who was shot dead in June 2024. Pic: Merseyside Police
His mother Carolyn paid tribute in an appeal to coincide with what would have been his 20th birthday.
“He was so kind… so laid back, so calm, so mature for his age. And he was just funny. Very funny.
“He was my baby… no mum should have to bury a child. He was my life. And I don’t know what to do without him.”
Mum Carolyn Cox (left) and aunt Julie O’Toole (right) are looking for answers
Ellis’ mum described him as ‘kind” and “funny. Pic: Merseyside Police
Meanwhile, his aunt Julie O’Toole said he was “the sort of person I think you’d be hard pressed to find anyone to say anything negative about. He was loyal, fiercely loyal… everything was about his family”.
To pay tribute to Ellis, Liverpool City Council will be lighting up the Cunard Building and Liverpool Town Hall in orange on Saturday.
DCI Steve McGrath does not believe Ellis was involved in criminality
Detective Chief Inspector Steve McGrath, the senior investigating officer, spoke about the information gathered so far, six months on from Mr Cox’s murder.
“I’m satisfied that the group that he was with was probably the target… and I would say that’s got something in relation to do with localised drug dealing in that area. But Ellis had no involvement in that whatsoever,” he said.
He added that police are looking for “really significant pieces of evidence now”, including “trying to recover the firearm that was used in relation to this, looking to recover the bikes that were used by the offenders”.
Read more from Sky News:
The Commons venue that changed political history
Link between A&E waiting times and chance of death
Missing sisters made earlier visit to same bridge
Mrs Cox also appealed for people to come forward with information.
“If you know anything, don’t let us get to [his] next birthday and still know nothing.
“We need to get justice for Ellis. And we need to get the people who took him from us off the streets.”
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