Connect with us

Published

on

The boss of Britain’s biggest mortgage lender has told Sky News he expects three interest rate cuts this year, bringing some relief to borrowers and mortgage holders.

Lloyds Banking Group chief executive Charlie Nunn said he anticipates rates will continue to fall gradually thanks to the resilience of household and business finances – but cautioned that the UK could expect low growth because of a relative lack of investment.

Speaking at the World Economic Forum in Davos, he said: “We think there’ll be three rate cuts this year.

“Of course, most people choose to fix their mortgage for two to five years and the pricing on that has been relatively stable and we think that stability is likely to remain for the remainder of this year.

“Those that are on the fixed rates are in a good place, and for those that are on a variable rate, their mortgage is likely to continue to come down slowly with the base rate.

“For those that are remortgaging, they are likely to get a significant uptick depending on when they set their mortgage.”

As Britain’s longest-serving bank chief in charge of the largest retail lender with more than 27 million customers, Mr Nunn is well-placed to assess consumer sentiment and economic prospects at the start of the year.

Lloyds Bank chief executive Charlie Nunn at Davos. Pic: Sky News
Image:
Lloyds Banking Group chief executive Charlie Nunn

He added: “The UK economy is what I would characterise as very resilient but relatively slow growth. And that’s first of all because household finances continue to strengthen – there are some customers struggling to make ends meet and we’re always focused on them – but actually, deposits and savings in households have increased 6% year-on-year, and cash flows for many businesses again have also strengthened in the last year.

“What we haven’t yet got is investment in growth, and we still have quite a tight labour market with quite high wage inflation.”

Read more from Sky News:
Southport killer jailed

Red weather warning over Storm Eowyn
Sainsbury’s to cut 3,000 jobs

Please use Chrome browser for a more accessible video player

Why should countries invest in UK?

Mr Nunn praised Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds for delivering a positive message about the UK’s prospects in Davos, where optimism about America has contrasted with gloom-consuming European prospects.

“The UK message here has been very positive,” he said. “We’ve got a sort of barbell going on, with colleagues in America being very positive post the inauguration of [Donald] Trump… while Europe is feeling quite negative in Davos, and the UK is building its own path really as a place that people want to invest.”

“The UK is well-placed, we think, relative to the rest of the world, but sentiment has been down in the last few months and people have been nervous about some of the changes that the chancellor made on taxes in the coming months.”

Please use Chrome browser for a more accessible video player

Trump puts Davos delegates on notice

The Lloyds boss was sanguine about the impact of Mr Trump’s second term, saying what counts is what he does, rather than just what he says.

“He’s one of the most predictable politicians we track, what he did on Monday this week is exactly what he said he’d do,” he said. “So there’s no uncertainty, I think, about his priorities and what he sees as important for the US economy and the ‘US first’ mindset.

“The uncertainty has always been around the execution, if he does execute, to what extent and when. Our base case for this year is that Trump will be good for the US growth, it will probably slow down the global economy if he starts to apply tariffs.”

Continue Reading

UK

Man arrested over wildfire that triggered ‘major incident’ in Northern Ireland

Published

on

By

Man arrested over wildfire that triggered 'major incident' in Northern Ireland

A man has been arrested by police investigating a “significant” wildfire that triggered a major incident in Northern Ireland.

More than 100 firefighters and 15 fire appliances were deployed on Saturday to Sandbank Road, Hilltown, to tackle the blaze which is believed to have been caused deliberately, fire chiefs said.

Northern Ireland Fire and Rescue Service (NIFRS) said the fire had a front of approximately two miles “including a large area of forestry close to property”.

It was extinguished at 2.53am on Sunday and the major incident status lifted, the NIFRS said.

“The cause of this fire is believed to have been deliberate,” chief fire and rescue officer Aidan Jennings said.

The Police Service of Northern Ireland said on Sunday that a 25-year-old man had been arrested “on suspicion of arson being reckless as to whether life would be endangered, and non-related driving offences”.

“He remains in custody at this time as enquiries continue into the circumstances surrounding the fire,” the force added.

A wildfire broke out in Northern Ireland. Pic: Sky Watch NI
Image:
The wildfire on Sandbank Road, Hilltown. Pic: Sky Watch NI

A wildfire broke out in Northern Ireland. Pic: Sky Watch NI
Image:
More than 100 firefighters were at the scene of the fire. Pic: Sky Watch NI

Various fires erupted across England this week amid uncharacteristically warm and dry conditions for the time of year.

On Saturday, helicopters were deployed to tackle Scotland’s fourth wildfire this week, with police saying a blaze “which started in the Newton Stewart area has spread northwards and is expected to reach the Loch Doon area of East Ayrshire around 12am on Sunday”.

Police Scotland added: “As a precautionary measure members of the public are asked to avoid the Loch Doon area and anyone who may be camping in the area is advised to leave.”

Dorset wildfires
Image:
Moors Valley Country Park blackened by fires this week

Elsewhere in England, Devon and Cornwall Police said they were assisting the fire service with temporary road closures on the A30 in the Bolventor area as they tackle “a number of fires” on moorland.

In Dorset, Moors Valley Country Park was forced to close after multiple wildfires broke out there on Wednesday.

Read more from Sky News:
Zelenskyy makes dig at US over its response to Russian attack
What hopes are there for the future of Prince Harry’s charity?

Please use Chrome browser for a more accessible video player

Wildfires spread across nature reserve

Separate incidents were then reported at Upton Heath in Poole on Wednesday, and nearby Canford Heath in the early hours of Thursday.

Friday was officially the warmest day of the year so far – with temperatures in the south of England reaching 23C (73.4F) – the highest since 21 September last year, according to the Met Office.

The weather conditions triggered a “severe” wildfire rating for parts of the UK on Tuesday.

Continue Reading

UK

Man shot dead in Stanley, County Durham

Published

on

By

Man shot dead in Stanley, County Durham

Police are investigating after a man was shot dead in County Durham.

Officers were called to an address in Elm Street, Stanley, at about 5.20pm on Saturday after reports of a “disturbance”, Durham Constabulary said.

A man in his 50s was found to have been shot and despite the efforts of paramedics he was pronounced dead at the scene.

His family have been told and are being supported by specially trained officers.

Specialist crime scene investigators are at the scene, and officers are carrying out house-to-house enquiries.

A cordon is in place and is expected to stay there for some time.

Detective Superintendent Neil Fuller said: “This is a truly shocking incident in which a man has been shot and has sadly died.”

He added: “Residents may see an increased police presence in the area. I would like to thank them for their support while we carry out this investigation.

“Our thoughts are with the man’s family at this time.”

Read more from Sky News:
Furious row after Labour MPs denied entry to Israel
Man arrested over wildfire that triggered ‘major incident’

Durham Constabulary has urged anyone who witnessed the incident or has dashcam footage or CCTV to contact the force.

Continue Reading

UK

Furious row after Labour MPs denied entry to Israel – as Lammy criticises ‘disgraceful’ Badenoch response

Published

on

By

Furious row after Labour MPs denied entry to Israel - as Lammy criticises 'disgraceful' Badenoch response

A furious political row has broken out after two Labour MPs were denied entry to Israel and deported after being accused of planning to “spread anti-Israel hatred”.

Yuan Yang and Abtisam Mohamed were rejected because they were suspected of plans to “document the activities of security forces and spread anti-Israel hatred”, according to a statement from the Israeli immigration ministry.

Ms Yang, who represents Earley and Woodley, and Ms Mohamed, the MP for Sheffield Central, both flew to the country from Luton on Saturday – and later said they were “astounded” by their treatment.

Politics latest: PM ‘unhappy’ about Trump tariffs

The Israeli immigration ministry said the MPs were accompanied by two assistants on the trip and during questioning, they claimed they were visiting Israel “as part of an official parliamentary delegation”.

But Israeli officials said immigration officers found “no evidence to support the claim… they were travelling as part of an official delegation”. “No politicians or government officials were aware they were coming,” they added.

The Council for Arab-British Understanding (CAABU) contradicted Israeli officials, saying the women were part of a “parliamentary delegation” on a trip organised by them and Medical Aid for Palestinians (MAP).

Conservative leader Kemi Badenoch told Sunday Morning With Trevor Phillips she was “not surprised” the MPs were detained and that “every country should be able to control its borders, and that’s what Israel is doing, as far as I understand”.

She said she was “very concerned” about the “rhetoric” on the Middle East from Labour MPs and six independents, and claimed there is “a lot of repeating of misinformation, repeating of conspiracy theories” during Prime Minister’s Questions.

Please use Chrome browser for a more accessible video player

Tory leader backs Israel over deported MPs

UK Foreign Secretary David Lammy criticised Ms Badenoch’s comments, writing in a post on X: “It’s disgraceful you are cheerleading another country for detaining and deporting two British MPs. Do you say the same about Tory MPs banned from China?.”

Ms Badenoch retorted, saying: “Unlike China, Israel is our ally and a democracy. A good Foreign Sec would be able to make that distinction.”

One of Ms Badenoch’s ministers Richard Fuller appeared to contradict her, however, telling Times Radio: “Any member of Parliament who goes on an official trip should be, I would think, welcomed in any country.”

Chair of the foreign affairs select committee Emily Thornberry MP described Israel’s treatment of the two women as an “insult to our country and to Parliament”.

In a joint statement, Ms Yang and Ms Mohamed said they were “astounded at the unprecedented step taken by the Israeli authorities”.

“It is vital that parliamentarians are able to witness, first-hand, the situation in the occupied Palestinian territory,” they said.

“We are two, out of scores of MPs, who have spoken out in Parliament in recent months on the Israel-Palestine conflict and the importance of complying with international humanitarian law. Parliamentarians should feel free to speak truthfully in the House of Commons, without fear of being targeted.”

They said they had travelled to “visit humanitarian aid projects and communities in the West Bank” with “UK charity partners who have over a decade of experience in taking parliamentary delegations”.

Israel’s UK embassy said the MPs were denied entry because they had “accused Israel of false claims, were actively involved in promoting sanctions against Israeli ministers, and supported campaigns aimed at boycotting the state of Israel”.

It said the women “chose not to exercise their right under Israeli law to petition the court to reconsider the decision”.

As a result, they were “offered hotel accommodation, which they declined” and their return flight was covered by the Israeli state.

“The visit was intended to provoke anti-Israel activities at a time when Israel is at war and under attack on seven fronts. Its purpose was to harm Israel and Israeli citizens and spread falsehoods about them,” the statement added.

“The state of Israel has both the authority and the duty to prevent the entry of individuals whose presence in the country is intended to cause harm to its citizens – just as such authority exists in the United Kingdom.”

Read more:
Video emerges of aid workers being fired on in Gaza
Starmer faces calls for UK’s role in Gaza war to be scrutinised

Earlier in a statement to Sky News, Mr Lammy said it was “unacceptable, counterproductive, and deeply concerning that two British MPs on a parliamentary delegation to Israel have been detained and refused entry by the Israeli authorities”.

“I have made clear to my counterparts in the Israeli government that this is no way to treat British parliamentarians, and we have been in contact with both MPs tonight to offer our support.

“The UK government’s focus remains securing a return to the ceasefire and negotiations to stop the bloodshed, free the hostages and end the conflict in Gaza.”

Please use Chrome browser for a more accessible video player

Emily Thornberry says Israel has to ‘stop being so thin-skinned’ about criticism over its Gaza war.

In an interview with Sky News, Dame Emily Thornberry said her two colleagues are “highly intelligent, well informed” and “really well respected”.

“They speak on behalf of a lot of people,” said the Labour MP, warning Israel that instead of “alienating” and “humiliating” them it should “engage” with them.

She confirmed the women have landed back in the UK and that “they’ll be okay”. But she added: “I am so angry.”

Labour Friends of Israel said it was “wrong and counterproductive for Israel to refuse entry to British members of Parliament”.

“Over the years we’ve taken hundreds of MPs to Israel and Palestine; it’s vital parliamentarians are able to visit and understand the situation on the ground,” it said.

Continue Reading

Trending