Welcome to Thursday’s Early Edition from i.
It’s just under eight weeks since Kwasi Kwarteng unveiled his calamitous tax-cutting mini-budget, which led to a dramatic fall in the pound, a massive spike in mortgage rates and a £65bn intervention by the Bank of England. Today, Jeremy Hunt will release a very different budget, in which he will urge “tough” Britons to face an economic “storm”. It comes one day after inflation hit a 41-year-high of 11.1%, with spiralling food price rises. The Chancellor says he wants to “defeat” soaring costs, but is also selling his plans as “compassionate,” saying they will protect public services, the vulnerable and long-term growth. So what can we expect from today? We’ll look, (from under the covers) and after the headlines.
Today’s news, and why it matters
Hopes for a free-trade deal between Britain and the US appear to be dead after Rishi Sunak and Joe Biden did not raise the issue during their first one-on-one meeting at the G20 summit in Bali. In 40 minutes of talks the leaders agreed that Brexit problems in Northern Ireland should be resolved by the spring, when the region will mark the 25th anniversary of the Good Friday Agreement.
Dominic Raab is facing fresh claims that he was such a “menace” as foreign secretary that his time with junior officials was limited by senior staff who wanted to protect their colleagues. The Deputy Prime Minister is facing an “independent” investigation over bullying claims…