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Good evening. Government borrowing costs have returned to levels last seen under the hapless Prime Minister Liz Truss after markets were spooked by stronger-than-expected core inflation in Britain.
Borrowing costs returned to Truss-era highs after the inflationary shock
Experts have warned that the biggest drop in inflation so far this year masks bad news for the economy.
Melissa Lawford reports that analysts have been blindsided by rising core inflation and much higher than expected food prices – meaning interest rates will have to rise even higher and the government’s hopes of halving inflation this year look increasingly under threat.
Follow along the latest news on our Business live blog.
Boris Johnson’s allies are threatening to trigger a by-election amid a fresh row over breaking Covid rules
Boris Johnson’s allies are threatening triggered three by-elections following his report to the police for allegedly violating Covid rulesThe Telegraph understands.
Ben Riley-Smith details which MPs could leave their seats earlier than expected.
and Christopher Hope reports that senior Tories complained that they were right-wing Conservatives pursued in a “witch hunt” in Whitehall led by a “crap” of civil servants.
Braverman will not be fired for speeding
Suella Braverman will remain the interior secretary after that Rishi Sunak decided not to fire herand found that she did not violate the ministerial code in dealing with speeding fines.
Camilla Tominey it says that the interior minister kept her job because Mr. Sunak could not afford a war with ERG.
Evening briefing: Today’s key headlines
British car industry | The boss of Jaguar Land Rover owner Tata is expected to fly to London next week to make the announcement Britain has won a battle with Europe to host its electric car battery factory.
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