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Bank criticises government as UK braces for 'austerity budget'

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Thu, Nov 17, 2022 08:10 AM

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The Independent's Morning Headlines email November 17, 2022 1 / The Bank of England has criticised t

The Independent's Morning Headlines email [View online]( November 17, 2022 [Morning Headlines]( 1 / [Bank of England attacks government’s economic failure ahead of ‘austerity budget’]( The Bank of England has criticised the disastrous mini-Budget and a failure to spark economic growth since the Covid pandemic, as Jeremy Hunt prepares to unveil huge new spending cuts and tax hikes. Ahead of Thursday’s landmark autumn statement – and after inflation hit a shock 41-year high of 11.1 per cent – its governor Andrew Bailey hit out at Britain’s “damaged reputation”, which he said had worsened the crisis. Pointing to Kwasi Kwarteng’s vast unfunded tax cuts, Mr Bailey said he was told “we didn’t think the UK would do this” at the autumn gathering of the International Monetary Fund.   2 / [Poland blast: Zelensky convinced missile that killed two was not Ukrainian]( Ukrainian president said he has evidence from his military 3 / [Republicans win House majority on strength of gerrymandered districts and rebuke to Biden]( Republicans will control at least 218 seats when Congress reconvenes 4 / [UK weather: Met Office warns of flooding as heavy rain to lash country for days]( Conditions could be ‘atrocious’ for much of the UK 5 / [Government’s plan to tighten rules on ‘at-home abortions’ revealed]( Exclusive: Leaked email has been shared with The Independent     The Big Question What does Article 5 of Nato’s North Atlantic Treaty say? The killing of two people in eastern Poland by a missile fired in the Russia-Ukraine war has caused alarm across the world at the prospect of Nato countries being drawn into the conflict in defence of an ally. Ukraine is not one of the military alliance’s 30 members, hence Nato’s reluctance to enter the fray militarily since the Russian invasion commenced in February or to implement a no-fly zone over the country, as president Volodymyr Zelensky has repeatedly requested, preferring instead to supply weapons and training only to the Ukrainian defensive effort. But Poland is a member and the “cornerstone” Article 5 of the North Atlantic Treaty signed by all member states compels them to come to the defence of any of its fellows that come under attack from a foreign power. [For the full story click here >](   [( Watch/ [Smoke rises from ferry carrying 271 people after it catches fire off coast of Bali](   NUMBER OF THE DAY 41 Inflation has reached a 41-year high in the UK   QUOTE OF THE DAY “We aren’t immune to these global headwinds, but with this plan for stability, growth and public services – we will face into the storm” – What the chancellor Jeremy Hunt is expected to say to the House of Commons today       Other stories you might like   [Everything wrong with the Qatar World Cup](   [Black and Asian children with asthma make up highest number of hospital admissions](   [10 areas in UK where house prices are predicted to fall the most](       Articles available exclusively to subscribers Hamish McRae, The Independent -What we can learn about relationships from Biden and Xi Jinping?](   Other newsletters you might like [The Race Report] The Race Report Fortnightly, 7am (UK time) Written by Nadine White [Sign up]( [Inside Politics] Inside Politics Weekdays, 8am (UK time) Written by Matt Mathers [Sign up](   If you can spare a minute we’d love your [feedback]( on our newsletters. [The Independent]( Join the conversation or follow us [Facebook]( [Twitter]( Please do not reply directly to this email You are currently registered to receive The Independent's Morning Headlines newsletter. Add us to your safe list of senders. If you do not want to receive The Independent's Morning Headlines newsletter, please [unsubscribe](list_name=IND_Headlines_Masterlist_CDP). If you no longer wish to receive any newsletters or promotional emails from The Independent, you can unsubscribe [here](. This e-mail was sent by Independent Digital News and Media Ltd, 14-18 Finsbury Square, London EC2A 1AH. Registered in England and Wales with company number 07320345. Read our [privacy notice]( and [cookie policy](.

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