Connect with us

Published

on

Liz Truss and Kwasi Kwarteng have met the head of the UK’s independent fiscal watchdog amid the fallout from the government’s mini-budget.

The government confirmed that publication of the forecast would not be brought forward from 23 November – more than seven weeks away.

The Office for Budget Responsibility (OBR) confirmed it would deliver an initial forecast to the chancellor next week, which “will, as always, be based on our independent judgment about economic and fiscal prospects and the impact of the government’s policies”.

The talks with the OBR came at the end of a week of economic turmoil in which the pound plunged, nearly half of mortgages were pulled and pension funds were saved from collapse.

The government said the meeting was “usual”, but it is highly uncommon for a prime minister to attend an OBR meeting, which is normally held between the watchdog and the chancellor to discuss upcoming economic forecasts.

A statement from Downing Street said: “This morning the prime minister Liz Truss and Chancellor Kwasi Kwarteng met with the OBR’s Budget Responsibility Committee, including the Chair Richard Hughes, at Number 10 Downing Street.

“They discussed the process for the upcoming economic and fiscal forecast, which will be published on 23 November, and the economic and fiscal outlook.”

More on Kwasi Kwarteng

Please use Chrome browser for a more accessible video player

Mini-budget initial forecast next week

Mr Hughes confirmed the watchdog’s timetable after the meeting.

Speaking outside Downing Street, Mr Hughes said: “We are going to be providing the chancellor with an update next Friday, and we will set up a timetable for our forecast process next week.”

An OBR statement added: “We will deliver the first iteration of that forecast to the Chancellor on Friday 7 October and will set out the full timetable up to 23 November next week.”

House prices warning as growth slows to single digits – economy live updates

Please use Chrome browser for a more accessible video player

‘It’s unusual for PM to meet OBR’

The meeting came after criticism that an OBR forecast was not published alongside the chancellor’s mini-budget last week.

The OBR has a statutory requirement to provide two forecasts a year, and said it offered Mr Kwarteng one on his first day as chancellor.

The chancellor did not commission one, and the lack of analysis on the measures outlined in his financial statement is thought to have contributed to the turmoil in the markets in the past week.

The OBR was set up by the government in 2010 to provide independent analyses of the UK’s public finances.

Andrew Griffith, the financial secretary to the Treasury, told Sky News on Friday morning that it was a “very good idea” for Ms Truss and Mr Kwarteng to meet with the OBR.

Sir Charles Bean, a former deputy governor of the Bank of England, said such a summit is “quite unusual”.

Click to subscribe to the Sky News Daily wherever you get your podcasts

Sir Charles said that meetings with the chancellor and OBR officials are not uncommon, but the prime minister less frequently talks with the watchdog.

He also said the meeting was like “closing the stable door after the horse had bolted”, as the OBR forecast needed to be released with the mini-budget to reassure markets.

Continue Reading

World

Gaza ceasefire deal is ‘on the brink’, Biden says in final foreign policy address

Published

on

By

Gaza ceasefire deal is 'on the brink', Biden says in final foreign policy address

A Gaza deal is “on the brink”, President Joe Biden has said in his final foreign policy address.

The outgoing US leader said it would include a hostage release deal and a “surge” of aid to Palestinians.

“So many innocent people have been killed, so many communities have been destroyed. Palestinian people deserve
peace,” he said.

“The deal would free the hostages, halt the fighting, provide security to Israel, and allow us to significantly surge humanitarian assistance to the Palestinians who suffered terribly in this war that Hamas started.”

U.S. President Joe Biden delivers a speech at the State Department in Washington, U.S. January 13, 2025. REUTERS/Evelyn Hockstein
Image:
Pic: Reuters

The US president also hailed Washington’s support for Israel during two Iranian attacks in 2024.

“All told, Iran is weaker than it’s been in decades,” he said.

Read more:
Pope Francis honoured by Joe Biden
Donald Trump’s inauguration 2.0

Mr Biden was delivering his final foreign policy address before he leaves office next week.

Monday’s address will be the penultimate time he speaks to the country before the end of his presidency. He is due to give a farewell address on Wednesday.

US and Arab mediators made significant progress overnight toward brokering a ceasefire in the Israel-Hamas war and the release of scores of hostages held in the Gaza Strip – but a deal has not been reached yet, officials said.

A round of ceasefire talks will be held in Doha on Tuesday to finalise remaining details related to a ceasefire deal in Gaza – including over the release of up to 33 hostages – officials added.

Mr Biden went on to claim America’s adversaries were weaker than when he took office four years ago and that the US was “winning the worldwide competition”.

“Compared to four years ago, America is stronger, our alliances are stronger, our adversaries and competitors are
weaker,” he said.

“We have not gone to war to make these things happen.”

Continue Reading

World

IDF admits ‘serious offence’ after using vehicle marked ambulance in raid in which a grandmother was killed

Published

on

By

IDF admits 'serious offence' after using vehicle marked ambulance in raid in which a grandmother was killed

The Israel Defence Forces (IDF) has admitted to a “serious offence” after a Sky News investigation analysed CCTV footage showing the moment an 80-year-old Palestinian grandmother was shot in the West Bank.

Halima Abu Leil was shot during a raid in Nablus. The grandmother died soon after.

During the course of the investigation, we noted that a blue vehicle marked as an ambulance and with a red light on its roof was used by IDF troops to enter the West Bank.

Our investigation stated: “Figures who appear to be Israeli military forces exit the ambulance in the foreground. They are equipped with helmets, backpacks, rifles, and other gear.”

The use of a marked medical vehicle for a security operation could be a contravention of the Geneva Convention and a war crime – as well as Halima’s killing.

Please use Chrome browser for a more accessible video player

CCTV shows Palestinian grandmother shot in IDF raid

The IDF has subsequently told Sky News: “On December 19, 2024, soldiers from the ‘Duvdevan’ unit took part in an operational mission to detain terrorists in Nablus.

“During the operation, an ambulance-like vehicle was used for operational purposes, without authorisation and without the relevant commanders’ approval.”

It added: “The use of the ambulance-like vehicle during the operation was a serious offence, exceeding authority, and a violation of existing orders and procedures.”

It also said the commander of the ‘Duvdevan’ unit was “reprimanded”.

However, it gave no update into the death of Halima, saying “the circumstances of the incident are being examined”.

Read more on Sky News:
UK to ‘mainline AI in the veins’ under PM’s new plans
Jeff Bezos’s New Glenn debut launch called off

The United Nations Special Rapporteur on occupied Palestinian territory Francesca Albanese watched the CCTV video and told Sky News her death could be a “war crime”.

She said: “When I look at the footage, what emerges prima facie is that there were no precautions taken – within these operations whose legality is debatable – to avoid or spare civilian life.

“No principle of proportionality because there was wildfire directed at the identified target and ultimately no respect for the principle of distinction.

“So this was a murder in cold blood and could be a war crime as an extrajudicial killing.”

According to the United Nations Office Of Human Rights in occupied Palestinian territory, Israeli security forces and settlers have killed at least 813 mostly unarmed Palestinians, including 15 women and 177 children, since 7 October 2023.

Continue Reading

World

Volodymyr Zelenskyy offers captured North Korean soldiers for Ukrainians held by Russia

Published

on

By

Volodymyr Zelenskyy offers captured North Korean soldiers for Ukrainians held by Russia

Ukraine’s president is offering a prisoner swap with North Korean soldiers it has captured, in exchange for Ukrainians held by Russia.

Volodymyr Zelenskyy has made a direct appeal to leader Kim Jong Un after seizing two North Koreans in Russia’s Kursk region.

“In addition to the first captured soldiers from North Korea, there will undoubtedly be more. It’s only a matter of time before our troops manage to capture others,” he said in a video posted on X.

His video also included an offer of help to officials in California fighting the ongoing fires there.

It is the first time Ukraine has announced the capture of North Korean soldiers since their entry into the nearly three-year-old war last autumn.

Ukrainian and Western assessments say that some 11,000 troops from Russia‘s ally North Korea have been deployed in the Kursk region to support Moscow’s forces, although Russia has neither confirmed nor denied their presence.

FILE - Russian President Vladimir Putin, left, and North Korea's leader Kim Jong Un smile together in Pyongyang, North Korea, on June 19, 2024. (Gavriil Grigorov, Sputnik, Kremlin Photo via AP, File)
Image:
Vladimir Putin and Kim Jong Un met in Pyongyang to sign a ‘military pact’ in June 2024. Pic: Kremlin Photo/AP

Mr Zelenskyy has said Russian and North Korean forces had suffered heavy losses.

More on North Korea

“Ukraine is ready to hand over Kim Jong Un’s soldiers to him if he can organise their exchange for our warriors who are being held captive in Russia,” Mr Zelenskyy added.

He posted a short video showing the interrogation of two men, presented as North Korean soldiers.

One of them is lying on a bed with bandaged hands, the other is sitting with a bandage on his jaw.

Pic: Volodymyr Zelenskyy/X
Image:
Ukraine said on Saturday it had captured two North Korean soldiers. Pic: Volodymyr Zelenskyy/X

One of the men said through an interpreter that he did not know he was fighting against Ukraine and had been told he was on a training exercise. He said he hid in a shelter during the offensive and was found a couple of days later.

He said that if he was ordered to return to North Korea, he would, but he was ready to stay in Ukraine if given the chance.

Read more from Sky News:
Footage reveals shocking moment 80-year-old is shot in IDF raid
Is Bezos chasing down Musk in billionaire space race?

Sky News has not been able to verify the video.

“One of them (soldiers) expressed a desire to stay in Ukraine, the other to return to Korea,” said Mr Zelenskyy, adding that for North Korean soldiers who did not wish to return home, there may be other options available.

Continue Reading

Trending