A gloomy warning for the British economy leads many of the papers. The Financial Times says the Bank of England has halved its growth forecast, with a cut to rates powering the FTSE 100. The bank is expecting the economy to grow by just 0.75% this year in what the paper describes as a blow to Chancellor Rachel Reeves.
The Daily Express says the chancellor’s job is on the line. The paper says there is speculation she could be replaced by Home Secretary Yvette Cooper.
The Times also says the Bank’s alert is a setback for Reeves as it says there was a warning of a new squeeze on living standards. The Bank cut interest rates to 4.5% as it attempts to stimulate the and has warned growth is weak and productivity “tepid”, the paper says.
The Daily Mail puts the blame directly at Reeves’s door as it says “New era of stagflation thanks to Reeves’s ruinous Budget”. Stagflation is when there is flat growth and rising inflation.
The Guardian also mentions stagflation fears as it says the chancellor’s growth plan has suffered a double blow. The paper quotes Prime Minister Sir Keir Starmer saying the government was never going to be able to turn the economy round in six or seven months so the growth outlook “just spurs us on”.
The i says the growth and inflation warning “piles pressure” on Reeves to boost the “flagging economy”. It says Andrew Bailey has backed the chancellor’s growth plans but she may have to raise taxes of cut spending to meet her own fiscal rules.
The Daily Telegraph blames the “bloated state” for harming the economy. Mr Bailey said an increase of half a million public sector workers since lockdown had not been matched by a rise in productivity.
The Daily Mirror leads on allegations that TV chef Gino D’Acampo made “sexual and aggressive comments” to a “string of women at work”. In a statement to ITV News, which first reported the story, D’Acampo firmly denied the allegations.
“Bedlocked” is the Metro’s headline as it says a winter vomiting bug has left hospitals in crisis, with thousands of beds taken up by patients suffering from norovirus. Last week 96% of beds were full, the paper says.
The Sun has a story from its exclusive interview with the girlfriend of the late singer Liam Payne. Kate Cassidy tells the paper the star was “secretly considering” a reunion with his One Direction bandmates before his death last year.
And the Daily Star has some good news for those of us who like to lounge around as it says “boffins” have found that “lazy gits live longer”. Relaxing on the sofa, having good sleep and not overdoing it at work can help you live an extra 10 years, the paper says.
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