Interest rate held at 5.25% for third time by Bank of England
The Bank of England has maintained its interest rate at 5.25% for the third consecutive meeting. This decision reflects the Bank's stance that borrowing costs need to remain high for an extended period to combat inflation, which is still well above the target rate. Unlike the US Federal Reserve, which hinted at potential rate cuts next year, the Bank of England, led by Andrew Bailey, suggests that the UK is not yet in a position to consider such reductions. Bailey expressed that it is too early to speculate about cutting rates, emphasising the need for more progress in controlling inflation. The decision was not unanimous, with three members of the Monetary Policy Committee (MPC) arguing for a rate increase, but they were outnumbered by the six others. Despite faster-than-expected inflation drops and signs of economic weakness, the Bank is cautious about reducing rates too soon, fearing a resurgence in inflation. Bailey noted that while significant progress has been made in reducing inflation from over 10% in January to 4.6% in October, there is still a journey ahead to reach the 2% target.
Charities' anger as government 'downgrades' disabilities minister role
Charities have expressed outrage as the Government demoted the disability minister role - during Disability History Month. The vacancy arose when Tom Pursglove became legal migration minister. Mims Davies, the new appointee, will maintain her focus on social mobility from her previous role as minister for social mobility, youth, and progression. Disability charities criticised the move, highlighting it as the longest gap without a minister in thirty years. Downing Street refuted claims of downgrading the position, insisting that a minister for disabled people would remain. However, the charities argue that the minister should not have divided responsibilities and demand the restoration of a dedicated minister of state. James Taylor from Scope emphasised the need for a full-time leader for disability strategy in government. The National Autistic Society's Tim Nicholls called for clarity on the role's scope and reassurance that disabled people's needs are a priority. Meanwhile, a government spokesperson stated that Davies would continue supporting disabled people, noting achievements in employment and financial aid for the disabled.
Farming concerns
After an expensive 2023 harvest, this autumn's weather has not been kind to farmers. Very dry conditions quickly turned to very wet. Crops thought to be safely growing have been overwhelmed by waterlogging and even flooding, with slugs and flea beetles adding to the damage. The political backdrop to this is a fundamental change in the way farming is funded. The Basic Payment Scheme, which has supported farmers to produce food, is being phased out in favour of incentives which exclusively support environmental benefits. However, while adjusting to the new situation, we give thanks to the Lord for 'Natural England' and 'Catchment Sensitive Farming', which are doing a great job of educating farmers and signposting available support, and for 'Farming Community Network', which provides practical help to those in difficulties. Pray for all in farming who are feeling weighed down by the burdens of weather, finance and regulation, for Christian farmers seeking to farm to God's glory, and for those who open their farms to schoolchildren and others.
Missing teenager found in France
A 17-year-old English boy, Alex Batty, who went missing in Spain in 2017, has been found in the town of Revel, France, six years after his disappearance. He is in good health, and is now awaiting the arrival of British authorities. His mother and grandfather, who took him on holiday and do not have parental guardianship, remain wanted in connection with his disappearance. Alex had been living in a spiritual community in Morocco, as his grandmother, his legal guardian, had previously suggested. He decided to leave the community and embark on his own path, eventually making his way to France. After walking through the Pyrenees foothills for days, he was spotted by a local delivery driver who picked him up. The area is known for attracting people in search of alternative lifestyles.
