'Tax rises needed to plug £35bn gap' and 'Putin breaks Trump's 'ceasefire"
Summary
The UK faces a £35 billion funding gap due to high inflation and defence spending, with tax increases expected to cover the shortfall. Meanwhile, Russia attacked a Ukrainian power plant shortly after President Donald Trump claimed to have arranged a ceasefire on energy sites, a deal that Ukrainian President Zelensky said he did not know about.Key Facts
- The Institute for Fiscal Studies warns the UK has a £35 billion finance gap.
- This gap is caused by high inflation and the UK’s increased defence budget.
- Tax rises are expected to help close this budget gap.
- Russia attacked a power plant in Ukraine soon after President Trump announced an energy site ceasefire.
- Ukrainian President Zelensky said the ceasefire deal was not communicated to him.
- The US has threatened to block arms supplies to Kyiv to stop attacks on Russian refineries.
- Oil executives canceled attendance at an energy conference after attacks on Riyadh airport.
- UK government is investigating sickness benefit payments to nearly 2 million people with uncertain eligibility.
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