this is bbc news, these are the latest headlines in the uk and around the world. a record rise in energy bills on the way in the uk as the energy regulator is set to announce it's allowing suppliers to hike prices by hundreds of pounds a year. with 22 million households in england, scotland and wales affected, ministers are poised to put forward measures to ease the financial pressure. things are hard anyway. but it has met higher interest rates in the uk

could also be announced later this morning as the bank of england fights to keep inflation under control. with all these price hikes on the horizon let us know how you're planning to cope with the increases. on twitter, it's @annitabbc or #bbcyourquestions. also this hour... disarray in northern ireland as the first minister is set to announce his resignation later today. it comes after one of his ministers orders staff to stop checks on goods coming from the rest of the uk. after two years of strict covid controls new zealand announces a phased re—opening of its borders. with the opening ceremony of the winter olympics in beijing just over 2a hours away, concerns persist over coronavirus infections. and a vaccine that could save the lives of young elephants — vets at chester zoo embark on a world—first trial.

hello and welcome if you're watching in the uk or around the world. millions of households across the uk facing a spike in energy costs will today find out how much they will have to pay. the energy regulator, ofgem, will announce what's expected to be a record increase in gas and electricity bills. every six months ofgem reviews the maximum price that suppliers in england, wales and scotland can charge customers on a standard tariff. that energy price cap could go up by 50 % from april, bringing the average household bill to almost £2,000 a year. 0fgem's new price cap is likely to affect about 22 million homes and will be a key factor in the rising cost of living this year. the government is expected to announce a package of measures

to reduce the immediate impact on households, which could include a £200 cut to annual bills through loans to suppliers, but campaigners say it's not enough. 0ur consumer affairs correspondent colletta smith reports. today we'll find out exactly how much more will be added to most people's energy bills this april. but with prices rising all around, gas and electricity increases have already hit hard. nobody wants their energy prices going up, do they? so i don't really try and think about it much, otherwise it would probably stress me out. there's something about the prices that needs addressing full stop, really. we were hoping that this year was going to be the year- when we can get back out and go on holiday and stuff. and if these price hikes are going to continue, i i don't think that's that's going to be an option, . unfortunately. the price cap was designed to stop customers getting ripped off, but it can be changed twice a year. the regulator said it's had to put up the cap to allow suppliers to cover the huge prices they're

paying for gas. in october, it went up by £135, bringing an average bill to £1,277. but that's small fry compared to what we're expecting today. some analysts are predicting a 50% increase, bringing that average bill up to £1,915, which works out at around £160 a month. and it may go up again in october. there's still a lot of volatility in the wholesale market, with the wholesale price of energy being the main reason for these increases. the forecast that we have for the default tariff cut for 2022—23 — so this time next year — that's actually rising further to well in excess of £2,000 a year, at this point in time. those with the least money spend a much bigger proportion of their income on energy, so they're going to be hit the hardest. i've heard from so many people who are already struggling and just

won't be able to pay. it's scary, because you can't afford to live day by day as it is. so where is that £100 coming from? it's obvious that there's - going to be people that won't be putting the heating on this winter. that's why the government have been under huge pressure to step in and help. the bbc understands that as much as £200 could be taken off everyone�*s bill through government loans to energy companies. £200 will make an impact, but given we're going to see increases of around £700 a year to the price cap, for many people, that's just not going to be enough. which is why we think that something like a one—off payment via the benefits system would target people on lowest incomes best and provide help to people who need it most. while extra cash for the most vulnerable may shield them from the worst, it's unlikely to be enough to bridge the gap of today's giant leap in the price cap. colletta smith, bbc news. ministers have plans

to ease the pressure. 0ur chief politcal correspondent adam fleming told us more about the help the uk government could give to people. because regulation like them meant in those loan repayments. we could see an extension of existing schemes like the warm homes discount where people on certain benefits get £140 every winter to help with their bills. was going up to £150 next with any weight. does

that get expanded in the value of it and in the number of people who can receive it? attend council tax the eye if you give people money off their council tax want to spend on their council tax want to spend on the energy bills. all of that is guesswork at the moment but we will get lots more detail in a couple of hours�* time. get lots more detail in a couple of ham" time-— hours' time. exams of the council tax, the councils _ hours' time. exams of the council tax, the councils are _ hours' time. exams of the council tax, the councils are not - hours' time. exams of the council tax, the councils are not getting i tax, the councils are not getting what they would expect. you could say money is being shuffled around here and it all has to be paid back somewhere. it is perhaps putting off somewhere. it is perhaps putting off some tough decisions, isn't it? presumably a council tax rebate would be funded by a grant from central government to local governments to make up the difference and that central government grant would be funded from taxation. rishi sunak does not like adding to government borrowing at the moment so that would mean

where else by a commensurate amount. is one of the questions i have got about all of this, where does the money come from? how much of it is general taxation? money come from? how much of it is generaltaxation? how money come from? how much of it is general taxation? how much of it willjust be loaded onto bills in the future? instead when full tax on the future? instead when full tax on the energy producers who are making big profits from drilling for all this gas and selling it to us at vastly inflated prices they would then use to cut the vat on everyone's energy bills. the government say that is not a goer. it does seem to be the big change that has happened in the treasury over the last few weeks is rather than targeting support at the very vulnerable and the very poor, they seem to be widening the net so that more people get some help at least. adam fleming talking to me a little earlier. energy prices are rising primarily because the wholesale

cost of gas has gone up. that's happened because global gas supplies are down. and there are several reasons for that. europe was unusually cold last winter. that meant a lot of stored gas was used up. replenishing those stores was made harder by low wind speeds — they meant less wind power — and so more gas had to be burned the third reason is there was more demand for gas from asia, and particularly from china. let's get more on this with nigel pocklington, he's the boss of good energy — they're one of the uk's renewable energy suppliers. thank you forjoining us. the top to you first about the plans being announced back to communication with p from

the government for some now seeing the government for some now seeing the price cap was definitely going up, and we have not seen any detail on the proposal at all.— on the proposal at all. £200 will help there _ on the proposal at all. £200 will help there are _ on the proposal at all. £200 will help there are a _ on the proposal at all. £200 will help there are a lot _ on the proposal at all. £200 will help there are a lot of _ on the proposal at all. £200 will help there are a lot of questions j help there are a lot of questions around this, including what happens if somebody leaves a supplier to join another one, does that go with them? if they are on a cheaper tariff, should they cut their rate even further? we are waiting to see if it is a workable idea. you even further? we are waiting to see if it is a workable idea.— if it is a workable idea. you are waitin: if it is a workable idea. you are waiting on _ if it is a workable idea. you are waiting on the _ if it is a workable idea. you are waiting on the government - if it is a workable idea. you are waiting on the government and if it is a workable idea. you are - waiting on the government and you have got questions. could this process work so that the discount and the help could be offered to customers by the 1st of april when the price rises will kick in? it will be a struggle to get there because it will involve a lot of changes to customer systems and we need to get real clarity from the government about how this scheme pans out in the long term. but

certainly it is a mechanism that could be worked through. what certainly it is a mechanism that could be worked through. what are our could be worked through. what are your customers _ could be worked through. what are your customers are _ could be worked through. what are your customers are saying - could be worked through. what are your customers are saying to - could be worked through. what are your customers are saying to you i your customers are saying to you right now? i many of your customers in debt already? irate right now? i many of your customers in debt already?— in debt already? we are quite a secialist in debt already? we are quite a specialist supplier _ in debt already? we are quite a specialist supplier because - in debt already? we are quite a specialist supplier because we | specialist supplier because we supply 100% renewable electricity so we do not have a full cross—section of the market. what we do see is increasing awareness from our customers as to price rises and we are seeing a bit of an increase in terms of inquiries as to how to manage debt. but until this announcement goes out to date this is the point at which this will crystallise for a lot of people. what advice would you give to consumers at this stage about how they can cope with these rising costs? ., ,., ., ., costs? from the point of view of our costs? from the point of view of your energy _ costs? from the point of view of your energy supplier _ costs? from the point of view of your energy supplier there - costs? from the point of view of your energy supplier there are i costs? from the point of view of your energy supplier there are a | your energy supplier there are a couple of things you could do. maybe you should say nothing because they will help through the next few

months. there are practical steps people can take. insulation does make a considerable difference in britain is the worst insulated and least energy stop if significant government intervention. obviously we are waiting _ government intervention. obviously we are waiting to _ government intervention. obviously we are waiting to hear— government intervention. obviously we are waiting to hear the - government intervention. obviously we are waiting to hear the full- we are waiting to hear the full details from the chancellor today think of other ways of doing this, other ways of handling the challenges of increasing wholesale gas prices two yet, there are other choices with pros and cons. that gas prices two yet, there are other choices with pros and cons.- choices with pros and cons. that is the nature — choices with pros and cons. that is the nature of— choices with pros and cons. that is the nature of government. - choices with pros and cons. that is the nature of government. there l choices with pros and cons. that is l the nature of government. there are two or three areas i would be curious to hear about. one is your bill is about £200 worth of social costs attached to it and this fund is the warm home discount, another insulation scheme. it makes payments to renewable generators from policy changes that were made over the last

ten to 15 years. those are good things and they are things that governments want to do, but they are sitting on your energy bill and arguably they should be paid for through general taxation because energy is an aggressive form of paying for this because it takes no account of income. the second point is about paying for the failure of around 29 suppliers in the last year. the course of that failure, which is the cost of additional electricity and gas that the new suppliers have to buy, is recruit —— recoup it is pushed over a longer period and we have seen nothing to happen. between social costs and supplier for the happen. between social costs and supplierfor the bill happen. between social costs and supplier for the bill cuts through an easier mechanism.— supplier for the bill cuts through an easier mechanism. thank you very much. thank you very much. also today, the bank of england

will confirm whether interest rates are to rise again. the bank's policy makers put up interest rates from 0.1% to 0.25% in december and it's expected they'll go up again to 0.5%. the move would increase the costs of borrowing for anyone on a variable mortgage. joining us now is katharine neiss, chief european economist at pgim fixed income. thank you very much forjoining us today. do you agree with that assessment, that you expect rates to increase to 0.5% today? yes. assessment, that you expect rates to increase to 0.5% today?— increase to 0.5% today? yes, on balance i would _ increase to 0.5% today? yes, on balance i would expect. - increase to 0.5% today? yes, on balance i would expect. as - increase to 0.5% today? yes, on balance i would expect. as a - increase to 0.5% today? yes, on i balance i would expect. as a signal that the bank of england sees a good degree in the uk economic recovery. that said, i see this very much as the bank of england tapping rather than slamming on the brakes. there

are risks, your previous clip highlighted higher energy prices, so they will take a cautious approach in my view. recovery in the uk economic recovery if people have less money to spend?— reflect energy

bills, in order to produce the items we like to buy. i am thinking of things like food and clothing and footwear. but things like food and clothing and footwear. �* ~ , a' ., footwear. but the key takeaway here is there is really _ footwear. but the key takeaway here is there is really very _ footwear. but the key takeaway here is there is really very little _ footwear. but the key takeaway here is there is really very little that - is there is really very little that the bank of england can do about these globalfactors. it the bank of england can do about these global factors. it can't bring down global energy prices so this is, as your previous presenter discussed, an issue for the treasury. discussed, an issue for the treasury-— discussed, an issue for the treasu . , ., ~ , treasury. do you think there will be a discussion — treasury. do you think there will be a discussion today _ treasury. do you think there will be a discussion today amongst - treasury. do you think there will be a discussion today amongst the - a discussion today amongst the monetary policy committee in the bank to keep interest rates at the rate they are already at, or will the inflationary pressures simply mean they cannot even really consider that as an option? the bank of encland

consider that as an option? the bank of england will— consider that as an option? the bank of england will be _ consider that as an option? the bank of england will be setting _ consider that as an option? the bank of england will be setting in - consider that as an option? the bank of england will be setting in order- of england will be setting in order to achieve their mandate over the medium term. they will be looking at the most recent data flow, including the most recent data flow, including the high rates of inflation we are seeing now, but really the focus is going to be on what is happening in the underlying domestic uk economy and what is the right setting for monetary policy to deliver that price stability over the medium—term in two or three years time? that will be the focus and as you say these current higher energy prices that we are seeing are going to squeeze real incomes, our paycheques will not go as far and it will dampen consumer confidence and that can have a real impact on economic activity. of course, the uk is not alone in experiencing these global energy price rises. it is happening elsewhere as well, so as a small, open economy that exports lots of

goods and services abroad, that we could demand coming from other countries will spill back and impact us here. so those will all be considerations that will weigh on the minds of the bank of england and why i expect them to take a modest, cautious, limited and gradual approach to interest rate rises. very briefly, when do you expect the race to go over the course of the year? i race to go over the course of the ear? ~ ., ., ., ._ year? i think we are moving away from the situation _ year? i think we are moving away from the situation where - year? i think we are moving away from the situation where the - year? i think we are moving away| from the situation where the bank would be signalling very clearly where interest rates are going. they are going to be focused on the data flow as it comes in. i expect these interest rate rises to be limited and gradual. we might not see much more than 0.5% that we are expecting today later this year.— today later this year. thank you very much _ today later this year. thank you very much for— today later this year. thank you

very much for your _ today later this year. thank you very much for your thoughts - today later this year. thank you very much for your thoughts on | today later this year. thank you i very much for your thoughts on all of that. let me bring in some of your comments, lots of them today on the increasing cost of living. and what you are doing to try to cope. this one is from rookie. i moved out of the family home last august, renting a small flat with the price of everything going up and depending on how much the price hike is i might have to move back home. claire says i don't know how to cut back any more. i am a carer to my young aduu any more. i am a carer to my young adult who qualifies for personal independence payment, we get no other benefits. there are not any corners are left to cut. pauline lane, i am an 0ap, most 0aps are terrified by the spiralling cost of living. this one is from a teacher who says, not much choice, blankets, layers and hot water bottles, lots of switching off and cutting back elsewhere. i am on a fixed income. i

try to get grants for insulation and solar panels series has already working well over full—time hours to working well over full—time hours to working sending in all of your comments continue to get in touch with me here at bbc news. you can do that on twitter. reports from northern ireland suggest that the dup first minister, paul givan, is preparing to resign. the move is part of the dup protest against the northern ireland protocol. this follows the announcement from the agriculture minister edwin poots last night that checks on goods arriving in northern ireland from great britain would be suspended, prompting accusations from the eu that the democratic unionists

are breaching international law. 0ur northern ireland correspondent chris page told me whether those checks were still being carried out or not. it is a pretty uncertain picture this morning. the first ferries coming from great britain have arrived in belfast and larne ports. there are some lorries coming off those ferries that are going to the border inspection areas. the back doors of those vehicles have been opened, there have been staff there doing some kind of work but it is unclear whether they are carrying out the full inspections under the terms of the northern ireland protocol. now, you may well understandably wonder why if a minister tells his civil servants to stop doing something why they wouldn't just take his direction and stop doing it. well, it is down to the politically contentious nature of the northern ireland protocol here and also the way political decision—making is done in the power—sharing devolved

government. edwin poots, the dup agriculture minister, who as a unionist is opposed to the protocol, he says he has taken legal advice and has made his direction based on that legal advice. but the likes of sinn fein, the nationalist sdlp, the cross—community alliance party who are also in the stormont executive, they say no, the protocol is in the brexit agreement, which is an internationally recognised treaty and it is not lawful to stop the checks, they have to go on. there will be more legal clarity sought today by everybody involved. it is still possible a point of law may well be tested in court, but for the moment uncertainty reigns amongst politicians, civil servants and indeed businesses here most affected by the post—brexit trading arrangements here. indeed, and now this news as i was mentioning before we came to you, chris, the news that the dup

first minister paul given intends to announce his resignation from his post this afternoon, that is a braking line coming from the nolan show. is this connected to what edwin poots said last night? what can you tell us? it certainly is connected to the dup's opposition to the northern ireland protocol. as we said, in the last few minutes my colleagues on the nolan show on bbc radio ulster have been reporting that paul given, the first minister in the stormont executive, the senior democratic senior democratic unionist party politician has written a letter of resignation which he intends to later on today. now, the leader of the gp, sirjeffrey donaldson, now, the leader of the dup, sirjeffrey donaldson, has been saying for several months now that unless there is sufficient progress as he sees it towards scrapping the irish sea border checks in the negotiations between the uk and the eu, he is prepared to throw his ministers out of the power—sharing devolved government.

if paul given does resign as first minister, that also means the deputy first minister, his main power—sharing partner, michele 0'neill of sinn fein, she automatically will be out of herjob as well. so while some of the functions of government will still be able to go on, the devolved government here will not fully function. as thing stands there is an election scheduled for the stormont assembly at the beginning of may. many of the dup's critics will say all this is more about the dup trying to appeal to core voters who are opposed to the protocol ahead of that election than anything else. but if there is a resignation at the top of the power—sharing executive today, the political implications will certainly run far and wide, notjust in northern ireland, but because this is essentially all about the brexit arrangements for northern ireland, in london, dublin and brussels there will be many people watching and wondering and seeing how all this plays out. wondering and seeing how all this plays out. 0ur brussels correspondent

is nick beake. i , hello. what reaction from brussels so far to the events in northern ireland? , , ., ., ireland? just said, they are waiting and watching _ ireland? just said, they are waiting and watching and _ ireland? just said, they are waiting and watching and wondering - ireland? just said, they are waiting and watching and wondering how i ireland? just said, they are waiting i and watching and wondering how this will pan out on two france. first, what is it with checks? have they been abandoned in belfast, large and elsewhere? secondly, if the first minister is to resign or to tender his resignation, where does that leave everything? there is a sense in brussels that they do not want to throw themselves headlong into something which may be very complicated and northern irish politics. that said, there has been a pretty low—key statement from the european commission saying that if cheques were to be ended on goods coming from great britain into northern ireland, that would be

unhelpful and they reminded once again the british government of its obligations under the deal was signed. but that word unhelpful is interesting. at this point the commission is not threatening legal action, but they are taking this wait and see approach. i5 action, but they are taking this wait and see approach.- wait and see approach. is the commission _ wait and see approach. is the commission surprised - wait and see approach. is the commission surprised that i wait and see approach. is the commission surprised that so wait and see approach. is the . commission surprised that so far wait and see approach. is the - commission surprised that so far we have heard relatively little from the westminster about this. the northern ireland secretary brandon lewis did appear on tv yesterday and said this was for the northern ireland executive. but it was the westminster government that signed the treaty with the eu, not the northern ireland executive. is brussel surprise so far we have not had that much from westminster about this? ,, ., ., ., ., , this? strong would have raised e ebrows this? strong would have raised eyebrows here. _ this? strong would have raised eyebrows here. they _ this? strong would have raised eyebrows here. they will - this? strong would have raised eyebrows here. they will be i this? strong would have raised i eyebrows here. they will be tracked later on the man who needs deal, when it comes to ireland, is due to

have a call with prince. they are trying to make the deal work in a better way. trying to make the deal work in a betterway. lord trying to make the deal work in a better way. lord frost used to lead for the uk and now it is liz truss and the hope is maybe they could make progress and benefit everyone. that is the line from brussels but people in northern ireland, traders, businesses, people on the streets will benefit from a better way of implementing the deal. i think there are questions to be asked and answers to be given when they have this conversation later this afternoon. this conversation later this afternoon-— this conversation later this afternoon. ., ,, , ., , afternoon. nick, thank you very much. ealrier i spoke to dup mp ian paisley who gave me his reaction to reports paul givan is to announce his resignation later today. i don't think anyone can be surprised by the fact that we have

been warning for some time now and signalling for some time, almost a year, that these situations cannot survive if the protocol is kept in place. we have warned about that, we have signalled that, we have been very patient. business cannot pay almost £1 billion a year in organising business from one part of the uk to another, it is not fair, it will end in tears, and if that prediction comes true, people cannot say they were not warned. there is opportunity to resolve this problem and unfortunately the government and the eu have failed to solve the problem, so we are being left to take decisive action and my party and the agricultural minister has taken decisive action in the last 24 hours and we hope that will indicate to people that clearly the protocol has failed, it has caused political instability and economic hardship. was the announcement by edwin poots last night regarding stopping the checks on goods coming into northern

ireland from the rest of the uk and what we are hearing about poll given, is this part of a coordinated move on the part of the dup to express his frustration, its anger, its dislike of the protocol? i would like to think _ its dislike of the protocol? i would like to think we _ its dislike of the protocol? i would like to think we have _ its dislike of the protocol? i would like to think we have taken - its dislike of the protocol? i would like to think we have taken a i like to think we have taken a strategic approach to this, i think thatis strategic approach to this, i think that is fair. 50 strategic approach to this, i think that is fair-— that is fair. so it is a coordinated lan? if that is fair. so it is a coordinated plan? if you _ that is fair. so it is a coordinated plan? if you are _ that is fair. so it is a coordinated plan? if you are saying _ that is fair. so it is a coordinated plan? if you are saying it - that is fair. so it is a coordinated plan? if you are saying it is i plan? if you are saying it is coordinated _ plan? if you are saying it is coordinated with _ plan? if you are saying it is coordinated with anyone i plan? if you are saying it is i coordinated with anyone else or plan? if you are saying it is - coordinated with anyone else or the government, we have warned about this and we have indicated to the government. the government lastjuly in a white paper made it very clear that the protocol had caused so much problems that triggering article 16 could now be done. we cannot wait another month. we have waited seven months and the government has dragged its feet on this. we have been very precise and have given them a lot of and we now must take action ourselves. remember, we try to put this on the executive's agenda and the government in northern ireland and try to have a discussion about this and sinn fein

rejected that, they did not even want to talk about this issue of the border check. we no longer the legal authority to continue with this board or it. 0n the eve of the official opening of the winter olympics in beijing, concerns over coronavirus infections remain, including within the olympic bubble. meanwhile, the head of the international olympic committee, thomas bach, said the winter games should not be used to achieve political goals. 0ur china correspondent stephen mcdonell is there. i want to talk to you about the covid—19 cases including among the athletes. how much might this have an impact on the games as planned? there is quite a bit of concern. the place right here behind me, amongst the teams competing here tonight

there may be more cases. we have had there may be more cases. we have had the most number of team members testing positive to date, partly because a lot of teams have arrived, but at least half of the cases are not at the airport from checks there, but inside the venues and there, but inside the venues and there is some concern that this means that covid—19 is moving around the venues. imagine how devastating to come all this way and because of covid—19, not to be able to participate. i think there is a level of understanding that there is nothing that can be done about this. even right now at the water cube, so much enthusiasm about the curling because chinese athletes have done well, people would look to be inside watching that but no tickets are on sale to the general public because of covid—19. given that there are all these restrictions on everybody

here to keep athletes and the fans and general public separated to stop covid—19 from spreading more widely at the games, like i say, there is a fair bit of understanding but a lot of worry amongst team members as they are picking up dozens of cases to date, 55 new infections and that is people just inside the olympic areas, not out here in the general community. we areas, not out here in the general community-— areas, not out here in the general community. areas, not out here in the general communi . ~ ., ., community. we also mentioned in the introduction what _ community. we also mentioned in the introduction what the _ community. we also mentioned in the introduction what the president i community. we also mentioned in the introduction what the president of i introduction what the president of the international olympic committee has been saying, he once sport to be a means of bringing people together not a platform for political debate, but will he get his wish? we not a platform for political debate, but will he get his wish?— but will he get his wish? we also heard chinese _ but will he get his wish? we also heard chinese officials _ but will he get his wish? we also heard chinese officials warning i heard chinese officials warning athletes not to use this opportunity to raise a t—shirt with a slogan or it, it has got to be worried because

the think it is going to happen, it is the same message from the head of the olympic committee trying to ensure that controversy does not cloud everything here. people have been following events in china, not only their treatment of tibetans, there are a lot of concerns about human rights here. athletes want to speak out on political matters. they are worried that someone in the medal podium could take the opportunity to take a stand. we'll have to see if that happens. the officials are hoping that sport is going to rule the day and not the controversy around the games. 0r going to rule the day and not the controversy around the games. or it will not be covid—19 swamping the olympic venues here. wejust have will not be covid—19 swamping the olympic venues here. we just have to 0lympic venues here. we just have to get through the next few weeks and hope that all the hard work in preparation will not come to nothing, if you like.- preparation will not come to nothing, if you like. thank you very

much. the headlines on bbc news... the energy regulator is set to announce the biggest ever rise in gas and electricity bills — later this morning. ministers are poised to put forward measures to ease the pressure on households. higher interest rates could also be announced later this morning — as the bank of england fights to keep inflation under control. the bbc understands that northern ireland's first minister, paul givan, intends to resign later today as a protest against the existing checks on goods coming from the rest of the uk. the move comes after northern ireland's agriculture minister last night ordered a halt to checks. after two years of strict covid controls — new zealand has announced a phased re—opening of its borders. and ....vets at chester zoo are embarking on a world—first trial of a vaccine that could save the lives of young elephants. the cost of living around the world is rising because of supply chain issues

and the increasing global cost of wholesale energy. the oil giant, shell, has made twelve billion pounds in pre—tax profits in the last three months of 2021. that's an increase from nine—hundred million—pounds in the previous quarter. joining us now is ben may — director of global macro research, 0xford economics. good to have you with us. we have been focusing on the cost of living, the rising cost of living in the uk including energy prices, rising interest rates predicted too, how is this being felt globally? it is interest rates predicted too, how is this being felt globally?— this being felt globally? it is very similar in other _ this being felt globally? it is very similar in other places, _ this being felt globally? it is very similar in other places, the i this being felt globally? it is very similar in other places, the us i this being felt globally? it is very. similar in other places, the us has seen high rises in inflation but it is a global phenomenon reflecting that the costs are seen elsewhere. does that make it difficult for any one country's government to mitigate these increases, these pressures on

their populations?— their populations? yes, it is certainly — their populations? yes, it is certainly something - their populations? yes, it is certainly something that i their populations? yes, it is certainly something that is l their populations? yes, it is i certainly something that is an their populations? yes, it is - certainly something that is an issue everywhere. some central banks have already started to tighten interest rates aggressively in emerging markets, but clearly there is a lot of pressure on central banks to perhaps, inflation and also governments to protect some of their populations from these higher prices too. �* , ., , , ., populations from these higher prices too. �* , .,, ,, too. are we seeing as you look across the _ too. are we seeing as you look across the world, _ too. are we seeing as you look across the world, any - too. are we seeing as you look. across the world, any noticeably different strategies to dealing with the increase in the cost of living? any different tactics?— the increase in the cost of living? any different tactics? well, some central banks _ any different tactics? well, some central banks have _ any different tactics? well, some central banks have already - any different tactics? well, some central banks have already raised| central banks have already raised interest rates where as perhaps some are taking more of a wait and see approach and in a number of economies, perhaps governments have put in place various subsidies to try and limit the economic pain from

higher energy prices. a range of measures. higher energy prices. a range of measures-— measures. given that we are so interconnected _ measures. given that we are so interconnected that _ measures. given that we are so interconnected that the - measures. given that we are so interconnected that the price i measures. given that we are so interconnected that the price ofj measures. given that we are so i interconnected that the price of our energy bill, the cost in one country is likely affected by the supply of gas from somewhere many thousands of miles away, what can you say about the likelihood of these financial pressures lasting for a significant period of time? we have heard today that we are not going to see an easing of in the wholesale cost of gas for potentially a number of years. it gas for potentially a number of ears. , ., ' . gas for potentially a number of ears. , . , . ., gas for potentially a number of ears. ,. q ., ., years. it is a difficult one to tell. certainly, _ years. it is a difficult one to tell. certainly, our- years. it is a difficult one to tell. certainly, our view i years. it is a difficult one to tell. certainly, our view is l tell. certainly, ourview is inflation will start to ease back we move through the year, but some of these prices are likely to remain high and in the case of something like gas, a lot depends on what is

going on with russia and ukraine which is inherently uncertain. director of global macro research at oxford economics. new zealand has announced a five—stage process to reopen its international borders, which have largely been closed for almost two years because of the pandemic. from the end of february, fully—vaccinated new zealand citizens and residents from australia will be granted entry without spending two weeks at an official quarantine centre. they will have to self—isolate instead. prime ministerjacinder ardern also said new zealanders in the rest of the world can return from mid—march, and the final border restrictions are due to end in october. 0verall, opening back up in this way we balances inflows of travellers so that people can reunite and fill our workforce shortages but also ensuring our health care systems can manage an increase in cases. after all, our strategy with 0micron is to slow the spread and our borders

are a part of this strategy. 0ur correspondent phil mercer in sydney tells us how the news is likely to be received in new zealand. i think there will be anxiety in new zealand as the borders gradually reopened. the prime minister made reference to that. she also made reference to that. she also made reference to that. she also made reference to the fact that the managed isolation facilities that have forced people in new zealand to wait to return home, this is the system where when they arrive home, they have to go into two weeks of managed isolation. the prime minister said it was a situation that had created a separation and heartbreak. new zealand's great defence according to the government is the vaccination rate, eligible people, 94% of them had two doses of

a covid—19 vaccine. so the government says it is confident they staged reopening will be safe but it is part of a journey for new zealand going into uncharted territory of living with the virus. that is why we have a very cautious staged approach announced by the prime minister in few hours ago. in argentina's buenos aires region, adulterated cocaine has killed at least 16 people and left 50 in hospital. investigators believe the illegal drug has been laced with poison or cut with another substance. 9 people have been arrested. aru na iyengar reports. it's in this poor urban settlement in north—west buenos aires where the cases of adulterated cocaine have been found. the drugs were sold in the streets of loma hermosa, known as puerto 8. authorities believe the cocaine was cut with poison. translation: from everything i have collected so far, it seems there have been extremely violent respiratory or cardiac arrest. so it must be a depressant of the central

nervous system. it is an anxious wait for relatives outside the hospital. there is confusion over what has been mixed with the drug and the motives behind it. some say the poisonings might be part of a gang war. translation: apparently, from what we know, from what we've been told, they use cocaine with rat poison. a regional minister called on any users who bought cocaine here to throw it away. cocaine is a highly addictive stimulant extracted from the leaves of coca plants and is generally snorted. a 2019 report on drug consumption in the americas listed argentina as the country with the third highest rate of cocaine consumption per person after the us and uruguay. there is anger from those outside the hospitals. they want answers. investigators are awaiting the results of postmortem examinations to compare drugs seized in raids

with those consumed by the victims. the social media giant facebook has seen the number of people using it every day fall for the first time in its 18—year history. facebook�*s parent company meta networks warned of slowing revenue growth in the face of competition from rivals such as tiktok and youtube. advertisers are also cutting spending. meta's shares slumped by more than 20% in after—hours trading in new york, wiping about $200 billion off the company's stock market value. malawi's government continues to count the costs of the impact of tropical storm ana. the storm has badly damaged the country's hydropower plant, plunging the country into darkness. authorities have told the bbc they will need millions it comes as the southern africa region prepares for another tropical storm, as our southern africa correspondent nomsa maseko reports.

what used to be a water catchment area for generating electricity severely damaged by heavy rains and strong winds. tropical storm ana triggered major power cuts here in malawi. this power plant generated 30% of the country's electricity before flooding damaged most of the infrastructure here. it could take weeks before it is fully functional again. untilthen, parts of malawi will remain in the dark. this is not the first time the country's power utility has been crippled by the effects of extreme weather, made more likely by climate change. we had gone through this exact situation during the drought in 2017/2018 and we had recovered from that. if you check around the country had now confidence in the power generation of the country, and this is a big blow to the national economy. we had started building on this and this has brought us back so that we now need to look at how can we come out of this quickly enough? the power supplier is now working

to mitigate further impacts from yet another storm expected to make landfall in the coming days. at a nearby village, people here are counting the cost of the damage. this man shows me what is left of his house after high water levels forced his family to flee. the 70—year—old tells me previous storms in the area were not as harsh. translation: we would be completely dead if rains come again. it will finish my house and will also damage the houses of those who were lucky to survive the last time. just as people in the region deal with the aftermath of tropical storm anna, they are now having to brace themselves for a cyclone which is under way. it's film awards season and nominations for this year's baftas are out later.

one film predicted to lead the way is belfast. based on director sir kenneth branagh's childhood in the city, the films covers the growing violence there in the late 1960s. john maguire reports. viewed through the eyes of a nine—year—old boy, belfast tells the story of the city and its people on the cusp of decades scarred by violence and bloodshed. we lived next door to alexandra park, so my brother was running saying, "get in the house, get in the house, get in the house." and not really understanding what was going on and then being sort of stood stock still until a pair of hands that happened to be my mother's grabbed me and in the chaos that was starting, with everyone else doing virtually the same thing, a few hours later coming out and realising, literally, the ground beneath our feet had been lifted. the paving stones were no longer there. they were up at the end of the street in a barricade and we were now literally walking on sand. written and directed

by sir kenneth branagh, the film is based on his life as a young boy growing up in the north of the city at the end of the 1960s. up here we have parkend street, which is now catholic housing. beneath it is an abandoned street and that was mountcollyer street, where kenneth branagh, in the movie, is living as a child. and that is where he lived in real life. only the road now remains of mountcollyer street where kenneth branagh lived. the houses are long demolished. decades after the violent scenes depicted in the film. paul donnelly runs tours that tell the story of belfast�*s turbulent past. 1969 was political upheaval. it manifests itself at street level in this violent confrontation. sometimes between protestant and catholic communities. in the case of belfast, in branagh's movie, it's actually the dynamics within this area at the time, which was overwhelmingly protestant unionist, but you would have a sprinkling of catholic families within that area.

the walls hadn't gone up in the way that we know them today. so what you have in the movie, particularly the opening scene, is essentially a purging of catholic families from a predominantly protestant district. into the 1970s and beyond, the city becomes ever more turbulent as the troubles, as they were known, tightened their grip. thousands of families left their homes and, at the same time, kenneth branagh's father was offered a job and housing in england. so there was a decision to be made. there's a house that goes with it. we get it rent—free. it sounds like they really want you. it was, i think, very meaningful to me to just try and put myself in their shoes, particularly to know the kind of sacrifice it was for them. there was really no question, frankly, that none of us wanted to leave belfast. none of us did. some of the cast, jamie dornan, ciaran hinds and the young jude hill, are from northern ireland. one of the things that he told me

before we ran over the scenes in the audition process was to put a lot of myself into the character and don't playjust an exact replica of what i think buddy is. put a lot of myself into it. and me and buddy can relate a lot. we both love football, we both love movies. and i put a lot of myself into the character and kenneth branagh definitely urged us all to do a bit of that. but kenneth branagh was most keen to impress the audience. and in particular, the people of belfast. as good an audience as any you will find in the world. they are sharp—witted, they are generous, they are kind. but they will tell you what they think. so, what did they think at a screening in the city last night? i thought it was great. it was very poignant. it resembles a time that a lot of us, a lot of our parents experienced. i thought it was very good, yes. you know, you think back to it and you think, well, _

it was hard for the people that lived in those areas. _ i liked it because it was really what happened, what happened. done in a nice way. it was slightly worse. but i did enjoy it. some have accused the movie of being filmed through a rose—tinted lens, sugar—coating tumultuous times. but paul donnelly, who has worked as a mediator between warring factions here, disagrees. i must say, i came to watch the film probably with my own baggage, because i work in historical tourism, i talk about dark events every day, i put them in context, i talk about the impact and legacy. so i was expecting to see something very simplistic. and it does seem very simplistic. but then i thought, it's simplistic and accurate, because it is a nine—year—old child. i had to leave my baggage aside. the movie challenged my baggage and i actually, surprisingly, enjoyed it much more than i thought i would. you touch my family and i will kill you.

are we going to have to leave belfast? i and by telling one family's story to the world, belfast also tells its own tale and may well persuade audiences to discover more, not just about the city's politics, but also about its prospects and its people. john maguire, bbc news, belfast. viewers in the uk can watch a documentary about the film, branagh: bringing belfast home, on bbc iplayer now. and we will get those nominations for this year's baftas later today. we'll bring you all the latest reaction. vets at chester zoo in northern england have started the first trial of an experimental vaccine to protect elephants from a deadly viral disease. the illness is responsible for more than half of all asian elephant deaths in european zoos. the aim of the trial is to develop a vaccine in captivity that can also be used in the wild. victoria gill reports.

indali the elephant calf, fighting for her life back in 2019. vets at chester zoo diagnosed the young elephant with a dangerous viral infection. it's called elephant endotheliotropic herpesvirus. it's often lethal and vets and scientists have been battling it for decades. it's an elephant herpesvirus. they have lesions in the mouth, they will get a fever, lethargy. but once we see the symptoms, normally it's too late. we've generally lost calves within 24 hours. wow, that quickly? yes, that quickly. up to 85% of elephants that develop the disease don't survive and most cruelly it often affects the very young calves. now though, a glimmer of scientific hope. elephant two setting up to move out to training pen one. the elephants here are involved in a first—ever trial of an experimental potentially life—saving vaccine.

it's research that's only possible because these elephants participate. he's five tonnes, he will cooperate if he feels like it. it's a lot of positive reinforcement from the keepers but it's also mutual respect. the new vaccine uses the same basic design as one that's already proven to be safe in elephants. its aim is to prime _ the animal's immune systems. we are trying to prevent deathj and severe disease so the idea underlying our vaccine _ is that the elephant's immune system already knows about this virus| and can then make sure that it overcomes the infection by itself. with the trial about to begin, researchers hope it will lead them to an effective vaccine within five years. meanwhile, with health checks and blood donations, the elephants here have already enabled vets to diagnose the virus much earlier and that has saved lives, including little indali's.

she turned five just before christmas and she is our wonder baby. conservationists ultimately plan to roll out the vaccine around the world, including in wild asian elephant herds. the disease is one of many threats to their survival. all the work here in chester has meant that little indali was the zoo's first calf in ten years to reach her fifth birthday. and that is a reason to celebrate. victoria gill, bbc news, chester zoo. retailers in the uk are warning there may be a shortage of popular nuts and crisps as kp snacks has been hacked. the producer of brands such as mccoys, hula hoops and various varieties of nuts says it's dealing with a ransomware cyber—attack. reports suggest the attack may delay deliveries "until the end of march at the earliest." rare remains of extinct animals, including a woolly mammoth and a woolly rhinoceros, have been discovered

on a building site in devon. a construction team working on a new town outside plymouth also found the bones of a hyena and a wolf. historic england is calling it an "exceptional discovery". it's thought the remains will provide a unique glimpse into ice age britain. how long will the cold weather last? in the us state of pennsylvania, it's easy to find out. just ask a famous, furry weatherman. tim allman explains. unlike the movie, in real life, groundhog day comes just once a year. since 1887, they come here to do whatever this is. and discoverjust how long the winter will last. and this gentleman is the one who will tell them. punxsutawney phil appears before the crowds, he doesn't need barometric charts or even a thermometer. instead, the question is simple.

did he see his shadow or not? i couldn't imagine a better fate. with my shadow i have cast then a long lustrous six more weeks of winter! i should point out that at this juncture, punxsutawney phil and his ancestors have only been right about 40% of the time. and this year, there is turmoil in the world of furry meteorological soothsayers. and rival groundhog chuck is operating out of new york and he has a very different opinion about the upcoming weather. ladies and gentlemen, i havejust heard from staten island chuck here at staten island zoo, he did not see his shadow, we will have an early spring! so according to phil and chuck, 6 more weeks of winter or an early spring. i hope that clears everything up for you. tim allman, bbc news.

in two minutes we are going to hear about— in two minutes we are going to hear about the _ in two minutes we are going to hear about the energy— in two minutes we are going to hear about the energy price _ in two minutes we are going to hear about the energy price cap. - before that, let's have a look at the weathen _ it has been a damp start but we will see some sunshine developing. another mild day and breezy too. we have a weather front which is coming in from the north—west. this will change our conditions from mild as represented by yellow to cold as you can see with the blue. a fair bet of cloud breaking up allowing some sunshine and the gusty wind is across northern england, northern ireland and scotland. as the weather

front comes in bringing rain the winds will be squally across the north west of scotland and the northern isles. the black circles represent the strength of the gusts of wind. we are looking at it mild day, 10 celsius and 11, on the other side of the weather front it will turn cold and showers will turn wintry. as the cold front moves south on thursday night and into friday, all the milder yellow is pushed away and the colder blue follows behind. the overnight picture, the rain goes south, wintry on the hills, cold airfeeds in, increasing wintry showers even two sea levels across scotland. also some frost and ice on untreated surfaces. in the south, temperatures still mild. tomorrow, goodbye to the weather front,

still mild. tomorrow, goodbye to the weatherfront, sleet still mild. tomorrow, goodbye to the weather front, sleet and snow on the chilterns, a mixture of sunshine and showers, some of them wintry, snow to lower levels in scotland, heavy showers in northern ireland and northern england. windy, the temperatures will be lower, it is going to feel cold on friday. at the weekend, another weather front, going to feel cold on friday. at the weekend, another weatherfront, look weekend, another weather front, look at weekend, another weatherfront, look at the yellow, it is going to turn mild, but it is also going to be windy at the weekend. the weather front moves south, into the north on saturday heading south on sunday, rain, windy but milder.

this is bbc news. i'mjoanna i'm joanna gosling. the headlines at 11... record rise in energy bills on the way as the energy regulator is set to announce any moment now how much it will allow suppliers to raise prices. with 22 million households in england, scotland and wales affected — ministers are poised to put forward measures to ease the financial pressure. things are hard anyway. but it's made it ten times worse. having to face bills. there isn't anything that hasn't gone up. and it's going up again. higher interest rates could also be announced later this morning — as the bank of england fights to keep inflation under control.

the cost of living — a bbc poll suggests around a third of uk adults working full time are struggling with bills — with nearly 30% saying they'd skipped meals in the past six months to save money. millions of people are already feeling the squeeze. energy bills are set to soar again. i am in leicester speaking to people about the rising cost of living. disarray in northern ireland — as the first minister is set to announce his resignation later today — it comes after one of his ministers orders staff to stop checks on goods coming from the rest of the uk. at the winter olympics, team gbs mixed curlers continue their perfect start to the games with victory over canada. and a vaccine that could save the lives of young elephants — vets at chester zoo embark on a world—first trial.

good morning. average energy bills are expected to rise good morning. average energy bills are expected to rise by good morning. average energy bills are expected to rise by up good morning. average energy bills are expected to rise by up to good morning. average energy bills are expected to rise by up to £700 good morning. average energy bills are expected to rise by up to £700 a year as a result of an announcement due imminently from the regulator, ofgem. it will increase the price cap, the maximum amount suppliers can charge customers, by as much as 40%. affecting around 22 million households in england, scotland and wales. the government plans to cut annual bills by £200 by loans to suppliers, as well as provide more support for the poorest families. our consumer affairs correspondent colletta smith reports. today we will find out exactly how much more will be added to most people's energy bills this april. with prices rising all around, gas and electricity increases have

already hit hard.— and electricity increases have already hit hard. and electricity increases have alread hit hard. , ., , already hit hard. nobody wants their ener: already hit hard. nobody wants their energy prices _ already hit hard. nobody wants their energy prices going _ already hit hard. nobody wants their energy prices going up, _ already hit hard. nobody wants their energy prices going up, do - already hit hard. nobody wants their energy prices going up, do they? i. energy prices going up, do they? i don't _ energy prices going up, do they? i don't try— energy prices going up, do they? i don't try to — energy prices going up, do they? i don't try to think about it too much — don't try to think about it too much. ., ,., , . , much. something about the prices needs addressing. , _ much. something about the prices needs addressing. , really. - much. something about the prices needs addressing. , really. we i much. something about the prices. needs addressing. , really. we were ho - in: needs addressing. , really. we were hoinr this needs addressing. , really. we were hoping this would _ needs addressing. , really. we were hoping this would be _ needs addressing. , really. we were hoping this would be the _ needs addressing. , really. we were hoping this would be the year- needs addressing. , really. we were hoping this would be the year we i hoping this would be the year we could _ hoping this would be the year we could get— hoping this would be the year we could get back out and go on holiday and stuff, _ could get back out and go on holiday and stuff, and if these price hikes are going — and stuff, and if these price hikes are going to continue i don't think there's— are going to continue i don't think there's going to be an option, unfortunately. the there's going to be an option, unfortunately.— there's going to be an option, unfortunately. the price cap was desiuned unfortunately. the price cap was designed to _ unfortunately. the price cap was designed to stop _ unfortunately. the price cap was designed to stop customers i unfortunately. the price cap was i designed to stop customers getting ripped off, but it can be changed twice a year. the regulator said it had to put up the cap to allow suppliers to cover the huge prices they are paying for gas. in october, it went up by £135, bringing an average bill to £1277. but that is small fry compared to what we are expecting today. some analysts are predicting a 50% increase, bringing that average bill up to £1915. which works out at around £160 a month.

and it may go up again in october. there's still a lot of volatility with — there's still a lot of volatility with the _ there's still a lot of volatility with the wholesale price of energy being _ with the wholesale price of energy being the — with the wholesale price of energy being the main reason for these increases — being the main reason for these increases. the forecast that we have for the _ increases. the forecast that we have for the default tariff cap for this time _ for the default tariff cap for this time next — for the default tariff cap for this time next year, that is actually rising — time next year, that is actually rising further to well in excess of £2000 _ rising further to well in excess of £2000 a — rising further to well in excess of £2000 a year at this point in time. there _ £2000 a year at this point in time. there is— £2000 a year at this point in time. there is with — £2000 a year at this point in time. there is with the least money spent a much bigger proportion of their income on energy, so they are going to be hit the hardest. i have heard from so many people who are already struggling and just won't be able to ny- struggling and just won't be able to pay. it’s struggling and 'ust won't be able to pay. it's scary, because you can't afford to live _ pay. it's scary, because you can't afford to live day _ pay. it's scary, because you can't afford to live day by _ pay. it's scary, because you can't afford to live day by day - pay. it's scary, because you can't afford to live day by day as i pay. it's scary, because you can't afford to live day by day as it i pay. it's scary, because you can't afford to live day by day as it is. l afford to live day by day as it is. so where — afford to live day by day as it is. so where is _ afford to live day by day as it is. so where is that £100 coming from? it is so where is that £100 coming from? it is obvious — so where is that £100 coming from? it is obvious that _ so where is that £100 coming from? it is obvious that there _ so where is that £100 coming from? it is obvious that there are _ so where is that £100 coming from? it is obvious that there are going i it is obvious that there are going to he _ it is obvious that there are going to be people who won't be putting the heating on this winter. that to be people who won't be putting the heating on this winter.- the heating on this winter. that is wh the the heating on this winter. that is why the government _ the heating on this winter. that is why the government have - the heating on this winter. that is why the government have been i the heating on this winter. that is| why the government have been on the heating on this winter. that is i why the government have been on huge pressure to step in and help. the bbc understands that as much as £200 could be taken off everyone's bill through government loans to energy

companies. through government loans to energy com anies. :: :: through government loans to energy com anies. :: i: ., ~ through government loans to energy comanies. $1 $1 ., ~' ., through government loans to energy com anies. :: :: ., ,, ., . companies. £200 will make an impact, but liven companies. £200 will make an impact, but given we — companies. £200 will make an impact, but given we are _ companies. £200 will make an impact, but given we are going _ companies. £200 will make an impact, but given we are going to _ companies. £200 will make an impact, but given we are going to see - but given we are going to see increases _ but given we are going to see increases of around £700 a year to the price _ increases of around £700 a year to the price cap, for many people that isjust_ the price cap, for many people that isjust not— the price cap, for many people that isjust not going to be enough, which — isjust not going to be enough, which is — isjust not going to be enough, which is why we think something like a one _ which is why we think something like a one off— which is why we think something like a one off payment by the benefits system _ a one off payment by the benefits system would target people and those incomes _ system would target people and those incomes best and provide help to people _ incomes best and provide help to people who need it most. while extra cash for the — people who need it most. while extra cash for the most _ people who need it most. while extra cash for the most vulnerable - people who need it most. while extra cash for the most vulnerable may i cash for the most vulnerable may shield them from the worst, it is unlikely to be enough to bridge the gap of today's giant leap in the price cap. colette smith, bbc news. we arejust getting price cap. colette smith, bbc news. we are just getting the detail through from ofgem now on how much that price cap is going to increase. there are two different price caps, one for people who play variable prices by direct debit, and the other people who are on prepayment metres. there are 4.5 million on prepaid metres, and those are going up prepaid metres, and those are going up most. it is a rise by 54%. and that 54% increase for standard

tariff customers translates to £1971. so it is the level of increase that we were expecting. ofgem says it knows this rise will be extremely worrying for many people and they are saying that customers are struggling to pay their energy bills should contact their energy bills should contact their supplier to access the help available. so that energy price cap will increase from the 1st of april. 22 million customers in all, 4.5 million of them on prepayment metres. the increase will apply to all customers from the 1st of april. those on default tariff paying by direct debit will see that increase of £693. the cap from 1270 72 to 1971. prepayment, an increase of £708, from 1300 and 92 £2017. and ofgem say the increase is driven by

a record rise in global gas prices, with wholesale prices quadrupling in the last year. it says it will affect default tariff customers who have not switched to a fixed deal and those who remain with their new supplier after the previous supplier exited the market, and we know a lot of companies have effectively gone out of business and exited the market. so people have seen their energy prices already change as they have been moved to other suppliers. through what has been quite a turbulent period in terms of energy prices. the cost of living is going up prices. the cost of living is going up on many fronts. our business correspondent sarah corker is in leicester... this is the biggest ever rising energy bills. there is no way to sugar coat this. it will affect 22 million households, as you say. in the last few moments, ofgem, the

regulator, has confirmed that the average energy bill will go up to around £2000 a year. and it is important to say that this is the average bill. this is for someone who uses a typical amount of energy. if you use more, you will pay more. if you use more, you will pay more. if you use less, you will pay less. why are bills going up? there are global factors why are bills going up? there are globalfactors at play why are bills going up? there are global factors at play and some uk specific factors as well. globally, we know the wholesale price in gas has gone up. it has rocketed over the last 12 months or so. up 250%. and then there are a uk specific factors, around 85% of households here rely on gas central heating, so we are more exposed if you like to these types of fluctuations. people are already feeling the squeeze, thatis are already feeling the squeeze, that is before the energy price cap goes up in april. let's get some reaction to this news. i'm joined by

donna elliott, who runs a food bank here in leicester. you are also a mum of three. you are in a prepayment metre, so that means your bill potentially could go up more than £700 this year. what is your reaction to that?— than £700 this year. what is your reaction to that? what impact will it have? it's _ reaction to that? what impact will it have? it's going _ reaction to that? what impact will it have? it's going to _ reaction to that? what impact will it have? it's going to be _ it have? it's going to be devastating. that's the minimum. let's _ devastating. that's the minimum. let's be _ devastating. that's the minimum. let's be honest, it is going to be more _ let's be honest, it is going to be more than — let's be honest, it is going to be more than that. so it is going to be devastating, notjust for more than that. so it is going to be devastating, not just for myself but for everyone that is in this situation, especially with prepayment. we are paying more. it is going — prepayment. we are paying more. it is going to _ prepayment. we are paying more. it is going to be robbing peter to pay paul~ _ is going to be robbing peter to pay paul. where are we going to get the extra _ paul. where are we going to get the extra money from? we have not got the money— extra money from? we have not got the money coming in to put that into the money coming in to put that into the gas _ the money coming in to put that into the gas and — the money coming in to put that into the gas and electric. there is going to he _ the gas and electric. there is going to he more — the gas and electric. there is going to be more poverty, more fuel stress, — to be more poverty, more fuel stress, more people coming to the food bank — stress, more people coming to the food bank. ourselves, yeah, we definitely— food bank. ourselves, yeah, we definitely are going to have to cut down _ definitely are going to have to cut down. knowing that we have got to find potentially another thousand pounds _ find potentially another thousand pounds a — find potentially another thousand pounds a year, it isjust find potentially another thousand pounds a year, it is just crazy. find potentially another thousand pounds a year, it isjust crazy. it

is going — pounds a year, it isjust crazy. it is going to — pounds a year, it isjust crazy. it is going to be chaos for everyone. and i_ is going to be chaos for everyone. and i can — is going to be chaos for everyone. and i can see already speaking to you it is really difficult for you to think about some of those tough choices ahead. that you and many other families choices ahead. that you and many otherfamilies here in leicester face. what is the demand been like at the food bank and in the community that you work with over the past couple of months? the demand has _ the past couple of months? the demand has definitely got higher. we have seen— demand has definitely got higher. we have seen an increase when the government cancelled the benefits, took the _ government cancelled the benefits, took the £80 back a month. we definitely— took the £80 back a month. we definitely saw a rise then. we are nothing _ definitely saw a rise then. we are nothing more people come forward that are _ nothing more people come forward that are working. working poverty. a lot of— that are working. working poverty. a lot of people are like that. they have _ lot of people are like that. they have not— lot of people are like that. they have not got food. food is now a luxury _ have not got food. food is now a luxury. they— have not got food. food is now a luxury. they are paying all the hills — luxury. they are paying all the hills they— luxury. they are paying all the bills. they have not even got food to pay— bills. they have not even got food to pay the — bills. they have not even got food to pay the children even though they are working. they are getting help from _ are working. they are getting help from the _ are working. they are getting help from the government, they are getting — from the government, they are getting universal credit, they are working. — getting universal credit, they are working, they are having food from food hanks, — working, they are having food from food banks, but they are still coming — food banks, but they are still coming to community groups for more help. _ coming to community groups for more help, because people can't manage. they cannot manage. they have not -ot they cannot manage. they have not got the _ they cannot manage. they have not

got the money. they cannot manage. they have not got the money-— got the money. nobody's got the mone . got the money. nobody's got the money- we _ got the money. nobody's got the money. we know _ got the money. nobody's got the money. we know that _ got the money. nobody's got the money. we know that the - got the money. nobody's got the i money. we know that the treasury are set to announce in the next half an hour or so a package of measures that will help people on the lowest incomes. one of those options may be taking as much as £200 off of everyone �*s bill, also extending some of the targeted support for people on lower incomes. hearing that, will that help to take off the pressure? hat that, will that help to take off the ressure? ., ., ., �* , ., pressure? not at all. it's not even auoin to pressure? not at all. it's not even going to make _ pressure? not at all. it's not even going to make a — pressure? not at all. it's not even going to make a dent _ pressure? not at all. it's not even going to make a dent into - pressure? not at all. it's not even going to make a dent into what i going to make a dent into what people — going to make a dent into what people have got. a couple of hundred quid people have got. a couple of hundred guid to— people have got. a couple of hundred guid to the _ people have got. a couple of hundred quid to the best part of seven hundred — quid to the best part of seven hundred quid, it is not going to touch— hundred quid, it is not going to touch it — hundred quid, it is not going to touch it. you still have to find money~ — touch it. you still have to find money a _ touch it. you still have to find money. a lot of these places, a lot of them _ money. a lot of these places, a lot of them are — money. a lot of these places, a lot of them are drug and alcohol dependent as well. the money doesn't necessarily— dependent as well. the money doesn't necessarily go on bills all the time — necessarily go on bills all the time. there are families out there struggling, — time. there are families out there struggling, they need help. there is no face _ struggling, they need help. there is no face to— struggling, they need help. there is no face to face, you are always in a queue, _ no face to face, you are always in a queue, you — no face to face, you are always in a queue, you are always online, you were _ queue, you are always online, you

were always — queue, you are always online, you were always on hold. it is not going to help. _ were always on hold. it is not going to help, £200. not were always on hold. it is not going to help. £200-— were always on hold. it is not going to help, £200. not going to help at all. thank to help, £200. not going to help at all- thank you _ to help, £200. not going to help at all. thank you very _ to help, £200. not going to help at all. thank you very much _ to help, £200. not going to help at all. thank you very much for- all. thank you very much for speaking to us. as i say, we will get that an announcement from the government shortly about what measures they will be taking to help those on the lowest incomes and those on the lowest incomes and those who are already struggling with bills. but i heard thank you heard there, in april, the financial impact for millions of families will be immediate, it will be immense, and inflation, we know that has hit and inflation, we know that has hit a near 30 year high. it could go up as far as 7% later on in the year. and we have heard that ofgem has said that the average energy bill will be around £2000 a year in april. back to you, joanna. thank ou, april. back to you, joanna. thank you. sarah- _ april. back to you, joanna. thank you. sarah- at— april. back to you, joanna. thank you, sarah. at midday, _ april. back to you, joanna. thank you, sarah. at midday, we i april. back to you, joanna. thank you, sarah. at midday, we are i you, sarah. at midday, we are expecting news on interest rates as well. it is anticipated interest rates will go up by another 0.25%, doubling the rate to 0.5%. that is the anticipation. we will have to

wait until midday to see what the announcement is from the bank of england, but you get in touch with me and let me know how you are feeling about the rising costs of living, particularly having just had the news there on the energy cap going up. that state without news about the increasing energy price cap. let's get more on this with morgan wild, he is head of policy at citizens advice. it was anticipated, but nonetheless it is still going to mean a financial shock living for many. it financial shock living for many. ht is now blowing a hole in millions of households finances. incredibly tough at a time when lots and lots of people are already struggling. that's citizen's advice injanuary, we already had more people seeking our support than at any point since the start of the pandemic. we have seen demand for fuel advice reach

record levels, referrals to food banks reached record levels. people are already struggling. this is coming out the worst possible time for lots of families. and all eyes are on the government, what they are going to announce later to help low income families weather the storm. it is anticipated that there may be two moves from the government, one being council tax rebates for people living in bands a— c properties, and also a rebate for everybody on their energy bills of £200. what is your response to those suggestions? it is welcome that _ response to those suggestions? ht 3 welcome that the government is taking steps to support households, the rebate will effectively work as a buy now pay later deal, so it will offer some respite in the short—term but people will have to pay that

back over a number of years in the future. if it works as advertised, thatis future. if it works as advertised, that is really going to be a problem for households who can't afford to pay back later, particularly if energy costs stay at a generational high. that is why we really are looking for a big focus on the needs of low income households. council tax reductions might help some of those low income households, but it will be quite a poorly targeted way of delivering support. we think the best way of targeting support to families on low incomes is through the benefits system, which is why we have been calling on the chancellor to deliver a one—off grant through the benefit system to anybody in receipt of means tested benefits. just looking at the statement from ofgem, and they say customers struggling to pay their energy bills should contact their supplier to

access the help available, and they say they have a list of the possible help available. such as debt repayment plans, payment breaks, emergency credit for prepayment metre to customers, priority support and schemes like the winter fuel payment or the warm home discount rebate. how much reassurance does that her offer to people who are struggling with their bills? haste struggling with their bills? we would struggling with their bills? - would reiterate ofgem's call that if you are struggling with your bills to first of all collier energy supplier who have a set of obligations to support you if you are struggling to pay your energy bill. we would also encourage people to reach out to our advice on our website, picking up the phone to an adviser. there are often support available for people that they are not aware of. they may be entitled to benefits they are not aware of so it is always worth checking to see

what support is available to you. our worry is that with prices going up our worry is that with prices going up by around £700 on average from april, that support won't be enough as it stands. so while there is support out there, there is a real need for the government to intervene and inject a lot of financial support for people on low incomes to help them weather the storm. the hrase help them weather the storm. the phrase that _ help them weather the storm. the phrase that we often hear, people choosing between heating and eating, is that what you anticipate? it is what we are _ is that what you anticipate? ht 3 what we are already seeing. our advisers are already seeing people having to make this really hard, awful choices between putting food on the table, paying the bills and heating their homes. that is only going to get worse unless the government really get a grip on this crisis and delivers the support that is needed. ., ,, , ., , crisis and delivers the support that is needed. . ~' , ., , . crisis and delivers the support that is needed. ., ,, i. , . ., is needed. thank you very much for “oininr is needed. thank you very much for

joining us- — at 11:30, the chancellor rishi sunak will be making statement to the house of commons about the increase to the energy price cap — so stay with us for that. and at 2:30 this afternoon, we'll be answering your questions on energy prices following ofgem's announcement with an energy policy expert from uswitch. get in touch with the hashtag bbcyourquestions — or email yourquestions@bbc. co. uk. let's stay with the cost of living, and the bank of england will confirm whether interest rates are to rise again. interest rates rose from 0.1% to 0.25% in december, and it's expected they'll go up again, doubling to 0.5%, making borrowing more expensive. our economics correspondent andy verity has more. if you look at the markets, the

chance of anything other than that is rated by traders in the city by less than 2%, so they are giving more than 98% probability on the rise of the official interest rate when we get the announcement at midday. some of them are betting that it may be a little bit more than that. what is really interesting is to look at what they are expecting interest rates to do in the coming year. the expectation in the coming year. the expectation in the coming year. the expectation in the city is that x rates will reach one percentage point about june, and that by the end of the year they will get up to 1.4 percentage points. if they go up to evenjust 0.7 five, percentage points. if they go up to even just 0.7 five, then that will be the highest interest rates have been since march 2009 when they were dropped to what were regarded then as emergency levels in order to cope with the global financial crisis, and the bank of england back then said he hoped for savers's sake that it would only be there for a few months. there is a myth that says that households will be hit in the pocket by a rise in interest rates.

it is not true for most households. in fact, two thirds of households have no mortgage. for those who do have no mortgage. for those who do have their own home, about half of them have already paid of the mortgage. of the third that remain, most are on fixed rates so the proportion that actually has a variable rate mortgages that might be hit by rising interest rates is actually less than 9% of households. for those people, a lot are trapped in standard variable rate mortgages and can't get out of them. the prospect of a rise of interest rates over the coming year on top of what you havejust over the coming year on top of what you have just been talking about is a little bit alarming to say the least. and there is a case for saying maybe some of those people should be allowed, as they haven't beenin should be allowed, as they haven't been in the past, to switch to fixed rate mortgages, where you can get a measure of security and protection against further rises in interest rates. the other thing we should guard against is the myth that high interest rates are bad. we have had emergency low interest rate now since the global financial crisis,

and that is coincided with the worst decade for improvements in living standards in two centuries. so it is not at all true that if you have low interest rates that is good for people's living standards. but interest rates are supposed to do is, if you raise interest rates and makes it more expensive to borrow so you slow down economic activity, there's people decide against. but when you are talking about the difference between 0.25% and 0.5%, it is not ready to factor very heavily on those investment decisions. the bank of england is very concerned now about the... we have record quick rates, record numbers of people leaving their jobs, and record vacancies in skilled occupations such as lorry drivers. we have seen pay rises of 30% of more. the bank of england is worried that that will turn into a 19705 worried that that will turn into a 1970s style wage price spiral, and therefore it needs to be seen to getting ahead of the curve as they

call it and raising interest rates to slow things down before it gets out of control. {lilia to slow things down before it gets out of control.— out of control. ok, thank you very much. out of control. ok, thank you very much- good _ out of control. ok, thank you very much. good explanation. - out of control. ok, thank you very much. good explanation. we i out of control. ok, thank you very much. good explanation. we willl out of control. ok, thank you very i much. good explanation. we will have the announcement at midday. we will bring that to you when it comes. raith rovers football club has apologised for the recent of signing david goodwillie, and promised not to play him in any matches. the striker was ruled to be a rapist and ordered to pay damages in a civil case in 2017. the decision to sign him caused sponsors to pull out, and the captain of the club's women's team to resign. the chief executive of scottish women's football said it would have devastating consequences for the game. let's get more on this from our scotland correspondent alexandra mckenzie. this story has been ongoing for a couple _ this story has been ongoing for a couple of— this story has been ongoing for a couple of days. following his

signing. _ couple of days. following his signing, there's been mounting criticism — signing, there's been mounting criticism for people including the former— criticism for people including the former prime minister gordon brown, who is— former prime minister gordon brown, who is a _ former prime minister gordon brown, who is a supporter of the club, and also from — who is a supporter of the club, and also from the minister, nicolasturgeon, who said the club should _ nicolasturgeon, who said the club should think again. there were resignations and sponsors pulled out. resignations and sponsors pulled out but— resignations and sponsors pulled out. but now, in the last half hour, the club _ out. but now, in the last half hour, the club has — out. but now, in the last half hour, the club has given out a statement and they— the club has given out a statement and they have said that they were wrong _ and they have said that they were wrong stop in that statement, they said "in _ wrong stop in that statement, they said "in reaching our original decision, _ said "in reaching our original decision, they focused too much on football— decision, they focused too much on football matters and not enough on what this— football matters and not enough on what this decision would mean for the club _ what this decision would mean for the club and for the community as a whole" _ the club and for the community as a whole." "over the past couple of days," _ whole." "over the past couple of days," they _ whole." "over the past couple of days," they said they had listened carefully _ days," they said they had listened carefully and they had learnt a hard but valuable lesson. it goes on to say that— but valuable lesson. it goes on to say that the player will not be selected — say that the player will not be selected by raith rovers and they would _ selected by raith rovers and they would enter into discussions with the player—

would enter into discussions with the player regarding his contractual position _ the player regarding his contractual position. so we do await details about— position. so we do await details about what that actually means. david _ about what that actually means. david goodwillie was ruled to be a rapist— david goodwillie was ruled to be a rapist in— david goodwillie was ruled to be a rapist in a — david goodwillie was ruled to be a rapist in a civil case in 2017. he said _ rapist in a civil case in 2017. he said the — rapist in a civil case in 2017. he said the sex— rapist in a civil case in 2017. he said the sex was consensual. so when the sa said the sex was consensual. so when they say that — said the sex was consensual. so when they say that the _ said the sex was consensual. so when they say that the club _ said the sex was consensual. so when they say that the club will _ said the sex was consensual. so when they say that the club will enter i they say that the club will enter discussions with the player, regarding his contractual position, that obviously doesn't rule out a situation where he stays on the payroll. is it clear what the options are here? i payroll. is it clear what the options are here?- payroll. is it clear what the options are here? i think at that oint we options are here? i think at that point we have — options are here? i think at that point we have just _ options are here? i think at that point we have just received i options are here? i think at that point we have just received the | point we have just received the statement, it was on raith rovers's website _ statement, it was on raith rovers's website this morning. there has been mounting _ website this morning. there has been mounting pressure from all angles, as i mounting pressure from all angles, as i said. _ mounting pressure from all angles, as i said, from politicians, from within— as i said, from politicians, from within the — as i said, from politicians, from within the club, from the community, and yes, _ within the club, from the community, and yes, i— within the club, from the community, and yes, i think you are right. the key point — and yes, i think you are right. the key point which i think we probably do need _ key point which i think we probably do need clarity on is that the player— do need clarity on is that the player will not be selected by raith rovers _ player will not be selected by raith rovers. he was assigned by raith

rovers— rovers. he was assigned by raith rovers on— rovers. he was assigned by raith rovers on monday and they would enter— rovers on monday and they would enter into — rovers on monday and they would enter into discussions regarding the contractual position. 30, enter into discussions regarding the contractual position.— contractual position. so, in terms of reaction- _ contractual position. so, in terms of reaction. and _ contractual position. so, in terms of reaction. and some _ contractual position. so, in terms of reaction. and some people i contractual position. so, in terms of reaction. and some people as| contractual position. so, in terms i of reaction. and some people as we have been saying have taken really strong steps on this. they have left theirjobs. presumably they strong steps on this. they have left their jobs. presumably they won't settle for a situation where he stays on the payroll, so this presumably has some time to run? yes, i think people will start reacting _ yes, i think people will start reacting to this. i was told just as i reacting to this. i was told just as i came _ reacting to this. i was told just as i came on— reacting to this. i was told just as i came on that val mcdermott has reacted _ i came on that val mcdermott has reacted on— i came on that val mcdermott has reacted on twitter. i haven't had a chance _ reacted on twitter. i haven't had a chance to — reacted on twitter. i haven't had a chance to look at that tweet. yesterday she was on radio four's women's — yesterday she was on radio four's women's hour, she said she was a sponsor— women's hour, she said she was a sponsor of— women's hour, she said she was a sponsor of the club, she read withdrew— sponsor of the club, she read withdrew her sponsorship. she said that she _ withdrew her sponsorship. she said that she has now ripped up her season— that she has now ripped up her season ticket and withdrawn that sponsorship. yes, ithink season ticket and withdrawn that sponsorship. yes, i think there will be a lot— sponsorship. yes, i think there will be a lot of— sponsorship. yes, i think there will be a lot of reaction to this, and certainly— be a lot of reaction to this, and certainly not the end of the story. thank _ certainly not the end of the story. thank you —

new zealand has announced a five—stage process to reopen its international borders, which have largely been closed for almost two years because of the pandemic. from the end of february, fully—vaccinated new zealand citizens and residents from australia will be granted entry without spending two weeks at an official quarantine centre. they will have to self—isolate instead. the prime ministerjacinder ardern said border restrictions are planned to end in october. overall, opening back up in this way balances inflows of travellers so that people can reunite and fill our workforce shortages but also ensuring our health care systems can manage an increase in cases. after all, our strategy with omicron is to slow the spread and our borders are a part of that strategy. an organisation representing children's homes has accused some communities of treating young people in care as criminals, rather than victims. the independent children's home

association, which represents more than 250 members in england and wales, has told the bbc that planning applications for new sites are often met with hostility, and more concern for local house prices than the children's wellbeing. the bbc understands that northern ireland's first minister, paul givan of the democratic unionist party, is preparing to resign. the move is part of the dup protest against the northern ireland protocol and follows the announcement from the agriculture minister edwin poots last night that checks on goods arriving in northern ireland from great britain would be suspended, prompting accusations from the eu that the democratic unionists are breaching international law. our ireland correspondent chris pagejoins me now. what is the latest on his position? well, it is understood that paul givan this afternoon said to submit

a letter of resignation from post as first minister. now, when the resignation will take effect is unclear. it could be immediately, it could be later on, perhaps next week. worth bearing in mind that next thursday ministers at the stormont executive are due to meet to discuss the remaining covid restrictions. in any case, it will create fresh political instability here in northern ireland. under the rules of the power—sharing system, there are five parties in government, and when the first minister resigns, that automatically means that the deputy first minister, michelle o'neill, will automatically lose herjob, too. other ministers will technically remain in post, running their departments. however, without a first and deputy first minister, essentially the stormont executive won't be able to function properly, and they will be vast uncertainty about a whole range of issues. for example, there is an apology scheduled for child abuse survivors

on the 11th of march. could that go ahead? most people would say probably not. what happens to the covid restrictions, to remaining legislation which is going through the stormont assembly ahead of whenever it is dissolved at the end of march for the scheduled assembly election. massive questions. other parties at stormont are strongly critical of the dup for what is potentially going to happen later on today, but the dup say that they have been warning for many weeks now that they would pull ministers out of government if there wasn't sufficient movement in their view towards scrapping the irish sea border checks.— towards scrapping the irish sea border checks. ~ ., , ., , ., border checks. what is the latest on the cheques? _ border checks. what is the latest on the cheques? yesterday, _ border checks. what is the latest on the cheques? yesterday, in - border checks. what is the latest on the cheques? yesterday, in other i border checks. what is the latest on i the cheques? yesterday, in other dup minister ordered _ the cheques? yesterday, in other dup minister ordered his _ the cheques? yesterday, in other dup minister ordered his officials - the cheques? yesterday, in other dup minister ordered his officials to - minister ordered his officials to stop carrying out those effects, but actually they are still going on today. there is some conflicting perspectives about the legality of stopping the cheques. edwin poots

says he has received legal advice backing up his position, but some of the other parties in the devolved government say no, the northern ireland protocol is in the brexit agreement, which is an internationally recognised treaty, therefore stopping the cheques is a breach of international law. that is being echoed by the irish foreign minister. mr puts has said that the reason the cheques are continuing to something do with accounting issues, not to do with illegal possession. the european commission has waded into this and said the dup's moves are unhelpful, but depending how far the dup go, this afternoon they can expect there to be much more reaction, notjust here in belfast but in london, dublin and brussels. we will be in the comments shortly for that statement from rishi sunak after the rise of the cost in energy bills. stay with us for that. he is

not there yet, but we will go there as soon as it begins. in the meantime, the weather with carol. now it's time for a look at the weather with carol kirkwood. after a cloudy and damp start to the day, it is going to brighten up with some sunny spells developing, but are still pretty breezy. the winds are picking up through the afternoon across northern england and northern ireland and scotland. as this weather front comes in, bringing heavy and persistent rain we will have squally winds around it, especially in north—west scotland and the northern isles. but for most of us it is going to be a mild day. that will change as this weather front, which is a cold front, sinks southwards, taking rain and some hill snow with it. behind it, cold air digs in an increasingly wintry showers will be at sea level across scotland. looking at a frost and the risk of ice on untreated surfaces away from the far south, but it will be that bit milder. rishi sunak has just stepped rishi sunak hasjust stepped up in the comments. it rishi sunak has 'ust stepped up in the comments.— the comments. it got there in november — the comments. it got there in november 2021, _ the comments. it got there in november 2021, a _ the comments. it got there in november 2021, a full- the comments. it got there in november 2021, a full year i the comments. it got there in i november 2021, a full year earlier. unemployment was expected to peak at

nearly 12%. instead it peaked at 5.2% and has now fallen to just over 4%, saving more than 2 millionjobs. and with the fastest—growing economy in the g7 this year, over 400,000 more people on the numberfor the pandemic and business investment writing, it is no wonder that borrowing is set to from three june £20 billion last year, the highest ever peacetime level, to just £46 billion by the end. as we emerge from the depths of the worst recession in 300 years we should be proud of our economic record. the economy is stronger because of the plan we put in place, because of the actions we took to protect families and businesses and that plan is working. but for all the progress we are making, thatjob is not yet done. right now i know that the

number one issue on people's mines is that rising cost of living. it is the independent bank of england's role to deliver low and stable inflation and the governor will set out theirjudgments at midday. just as the government stood behind the british people through the pandemic, so we will help people deal with one of the biggest cost they now face, energy. the energy regulator ofgem announced this morning that the energy price cap will rise in april two £1971, an increase of £693 for the average household. without government action, this would be incredibly tough for millions of hard—working families. so the government is going to step in to directly help people manage those extra costs. before i set out the steps we are taking, let me explain what is happening to energy prices

and why. people's energy bills are rising because it is more expensive for companies who supply our energy to buy oil, coal and gas. of the £693 increase in the april price cap, around 80% comes from wholesale energy prices. over the last year the price of gas alone has quadrupled and because over 85% of homes in britain are heated with a gas boiler and around 40% of our electricity comes from gas, this is hitting households hard. the reason gas prices are soaring are global. across europe and asia a long cold winter last year depleted gas stores, disruption to other energy sources like nuclear and wind left is relying more than usual on gas during the summer months. surging demand in the world's manufacturing centres in asia at the same time as countries like china moving away from coal is furthering increasing

demand for gas and concerns about a possible russian incursion into ukraine are putting further pressure on wholesale gas market. so prices are rising. the price cap has meant that the impact of soaring gas prices had so far fallen predominantly on energy companies, so much so that some suppliers who couldn't afford to meet those extra costs have gone out of business as a result. it is not sustainable to keep holding the price of energy artificially low. for me to stand here and pretend we don't have to adjust to paying higher prices would be wrong and dishonest. but what we can do is take the sting out of the significant price shock for millions of families by making sure the increase in prices is smaller initially and spread over a longer

period. without government intervention in the increase in the price cap would leave the average household having to find an extra £693. the actions i am announcing today will provide to the vast majority of households just over half of that amount, £350. in total, the government is going to help around 28 million households this year. taken together this is a plan to help with the cost of living worth around £9 billion. we are delivering that support in three different ways. first, we will spread the worst of the extra cost of this years energy price shock over time. this year, all domestic electricity customers will receive an upfront discount on their bills worth £200. energy suppliers will apply the discount on people's build

from october, with the government meeting the cost in full. that discount will automatically be repaid from people's built in equal £40 instalments over the next five years. this is the right way to support people while staying on track with our plans to repair the public finances. and because we are taking a fiscally responsible approach, we can also provide more help faster, to those who need it most. the second part of our plan. we are going to give people a £150 council tax rebate to help with the cost of energy in april and this discount won't need to be repaid. and i do want to be clear with the house, we are deliberately notjust giving support to people on benefits. lots of people on middle incomes are struggling right now, too. so we have decided to provide a

council tax rebate to households in band a to d. this means around 80% of all homes in england will benefit. and the third part of our plan will provide local authorities with a discretionary fund of nearly £150 million to help those lower income households who happen to live income households who happen to live in higher council tax properties and households in band a to d who are exempt from council tax. we are also confirming today that we will go ahead with existing plans to expand eligibility for the discount by almost a third, so that 3 million vulnerable households will now benefit from that scheme. and that is not all we are doing to help vulnerable households. we are providing £3 billion over this parliament to help more than half a million low—income homes become more energy efficient, saving them on average £290 a year, increasing the

national living wage to £9.50 an hourin national living wage to £9.50 an hour in april, a rise of over £1000 for 2 million low—paid workers, and we are providing an effective tax cut for those on universal credit, allowing almost 2 million households to keep an average of £1000 per year. the payment through energy suppliers will apply across england, wales and scotland. energy policy is devolved into northern ireland with a different regulator, and the government does not have the legal powers to intervene. but we will make sure the executive is funded to do something similar with around £150 million for northern ireland next year. and because the council tax system is england only, total consequential is of around £565 million will be provided to devolved administrations in the usual way. i know that some in this house have argued for a vat cut on energy. however, that policy would

disproportionately benefit healthier household —— wealthier. there would be no guarantee that suppliers would pass on the discount to all customers and we should be honest with ourselves. this would become a permanent government subsidy on everyone's bills. a permanent subsidy worth £2.5 billion every year at a time when we are trying to rebuild the public finances. instead, our plan allows us to provide more generous support faster to those who need it most, providing 28 million households with at least £200 and the vast majority receiving three and £50. it is fair, targeted and proportionate. it is a right way to help people with a spike in energy costs. today's announcements are just one part of the government's plan to tackle this country's most pressing economic challenges. a plan for growth with record investment in infrastructure, innovation and skills. i plan to restore the public finances with. a

plan to cut waiting list in the nhs with £29 billion over three years and a permanent new source of funding and with the measures i have announced today, a plan to help with the rising cost of energy with £350 more in the pockets of tens of millions of hard—working families. that is our plan to build a stronger economy, notjust today but that is our plan to build a stronger economy, not just today but for the long term and i commend it to this house. i long term and i commend it to this house. .., ,, ., ., long term and i commend it to this house. ,, ., ., ., . ., house. i call the shadow chancellor. can i house. i call the shadow chancellor. can i thank — house. i call the shadow chancellor. can i thank the _ house. i call the shadow chancellor. can i thank the chancellor _ house. i call the shadow chancellor. can i thank the chancellor for - house. i call the shadow chancellor. can i thank the chancellor for his i can i thank the chancellor for his statement. we have known that this price rise was coming for months and today we learn that the energy price cap will increase to £1971 in april. in october i called on the government to provide immediate support for households, cutting vat on their energy bills and saving £200 of bills. with £400 in extra

targeted support for those who need it most, which would mean for some of the poorest families in our country almost no increase in energy bills from april. the government had not done that day. we all remember when the prime minister said that cutting vat was one of the benefits of brexit. he said, when we vote leave we will be able to scrap this unfair and damaging tax. could there ever be a time where this policy is more needed than today? and i would have thought that the prime minister with his unblemished record of integrity would defend the commitment that he has made, but instead it is another pledge thrown onto the bonfire of broken tory promises. and the uncomfortable truth for the chancellor is that even after what he is announced today, families in britain will be

still paying hundreds of pounds more for their energy, including some of the poorest families from april, as a result of the breathtaking rising energy prices just an ounce by ofgem. millions of people cutting back to pay the bills. citizens advice has said that they have seen advice has said that they have seen a record number of people injanuary struggling with fuel debt, before the energy price increase. but what do the government want? a buy now pay later scheme that loads of cost for tomorrow. pay later scheme that loads of cost fortomorrow. high pay later scheme that loads of cost for tomorrow. high prices as far as the eye can see. this year, next year and a year after, give with one hand now and take it back later. the party opposite used to talk about the nations credit card. today we have seen the chancellor force british households don't load up their credit cards by lending billions of pounds to energy companies the chancellor is gambling that prices are going to fall. they

could go up further in october. what then? billions more loaded on people's build? the best way to target support would be an increase to £400 and an extension to 9 million households of the warm homes discount, as labour has pronounced. their scheme is a pale imitation of labour's, especially for households and pensioners on the lowest incomes. the chancellor instead is using council tax to target extra help. that will mean many of the poorest households will not get extra support while some of the richest do, and it is people living in the north and midlands who will lose out most. the hypocrisy the day after the government's levelling up white paper is... we after the government's levelling up white paper is...— white paper is... we need to be calm. i white paper is... we need to be calm- i am _ white paper is... we need to be calm. i am sure _ white paper is... we need to be calm. i am sure you _ white paper is... we need to be calm. i am sure you want i white paper is... we need to be calm. i am sure you want to i white paper is... we need to be i calm. i am sure you want to catch my eye and _ calm. i am sure you want to catch my eye and it _ calm. i am sure you want to catch my eye and it is — calm. i am sure you want to catch my eye and it is not the way to do so. can the _

eye and it is not the way to do so. can the chancellor confirm how many people who are fuel poor will miss out on council tax are poor compared to the warm homes discount support that labour have announced. the government had a choice. only today shell announced their profits had quadrupled to $20 billion. they described the results as momentous stop dividend up, prop it up and peoples energy bills up also. labour's plan would impose a one—off windfall tax on those excess profits but this chancellor would rather shield the oil and gas producers while at the same time loading the cost on to working people and pensioners. cabinet ministers have described the oil and gas producers as struggling. struggling, mr speaker! tell that to the one in five people who are already skipping meals so they can pay their energy bills. mr speaker, this energy

crisis has not happened overnight. it is a decade of dither and delay from the party opposite that has brought us to this point. a decade of failure to regulate our energy market. a decade in which they have slashed our gas storage capacity, leaving us more reliant than ever on russia for our gas imports. a decade of failure to make the most of solar, tidal and wind energy. and a decade of stalled progress on insulating our homes to keep bills low, notjust for one year but into the future. it has been that tory decade that has led to this announcement of the biggest increase in the price of domestic energy since records began. that is what the chancellor should acknowledge and apologise for today. the conservatives and solving the cost of living crisis because the conservative party are the cost of

living crisis. conservative party are the cost of living crisis-_ living crisis. the opposition may have some _ living crisis. the opposition may have some sound _ living crisis. the opposition may have some sound bites - living crisis. the opposition may have some sound bites but - living crisis. the opposition may have some sound bites but theyi living crisis. the opposition may - have some sound bites but they don't have some sound bites but they don't have a policy. in contrast, this government has announced measures... you don't need to test for woodworm. in contrast _ you don't need to test for woodworm. in contrast this government has announced measures to share the burden with consumers and help manage the global price rise and despite the outrage from their benches opposite, i am sure that even they would admit privately that the support just announced even they would admit privately that the supportjust announced is generous. let me take some of the honourable lady's points in turn. first of all, on the topic of vat, how very welcome it is that the

opposition are recognising the benefits of brexit. i hope they will join me in celebrating the fact that we have been able to change mass migration to this country after decades, that we can create a new three—part in places like teesside, sign free trade deals and deregulate our economy. she talked about vat. vat and average would be worth £90 to every household and we are providing £150 to those households who really needed and delivering that support quicker. the honourable lady also tried to claim that it was the government's responsibility to manage global house prices. it is very clear that what is causing the increasing gas prices are global factors, but no british government

and change what is happening in asia or indeed stop a nuclear power plant from going off—line in germany. she should acknowledge that, even in places like norway electricity bills are rising because these are global factors at play and she would tell elite might do well to acknowledge that. thirdly, i do want to address this point about our support for the most vulnerable because i am proud of this government's record in supporting those who need our help. the policies that we have announced today are progressive in their nature, a flat rate would of course mean far more to those on lower incomes with lower energy bills. it is worth five times as much as a percentage of income for those in the lowest incomes as those at the highest incomes and she talked about insulation. we are spending over this parliament £3 billion to improve the energy efficiency and

insulation of over half a million households in fuel poverty. that is the right thing to do and it will save those vulnerable families on average £300 a year, notjust this year but every year going forward. and we have already announced those plans and to address her point on windfall tax, of course they sound superficially appealing, but we on this side of the house deal with complex problems in a responsible way. the obvious impact of a windfall tax would be to deter investment. it is as simple as that, and at this moment i want to see more investment, not less. last year we saw the lowest amount of investment on record. there are billions of pounds, £ii investment on record. there are billions of pounds, £11 billion of projects lined up to go. i want to unlock that investment because that

is good for this country. it is good for british jobs and it is good for our energy security. we will pursue policies that are good for the interest of this country, notjust debate but for the future, and i know my right honourable friend the energy secretary is working very hard to make sure we have an energy market fit for the future. we have made investments in nuclear that were ignored by the party opposite. we are now fixing them. in conclusion, i am we are now fixing them. in conclusion, lam not we are now fixing them. in conclusion, i am not blind to the challenges that we face. i have to say to the right honourable member opposite, we on the side of the house do not have the luxury of sitting on the sidelines. faced with the gravest of crises, this government chose to protect millions ofjobs, support millions of businesses, invest in a world leading vaccination programme and it shows a balanced approach to covid

so we can open up faster than anywhere else in europe. we did these things at record speed at a time of great uncertainty. and we will always strive to learn from mistakes. nothing is ever perfect when responding to a crisis. but i say to the party opposite, there is a fine line between reasonable criticism and political opportunism. and in my experience the british people can always tell the difference.— people can always tell the difference. ., . ., difference. can i welcome the announcement _ difference. can i welcome the announcement today... - difference. can i welcome the announcement today... a - difference. can i welcome the announcement today... a cut | difference. can i welcome the l announcement today... a cut in difference. can i welcome the - announcement today... a cut in vat to solve this is a completely flawed policy. as evidenced by the three economist who spoke to the treasury select committee this week, who wanted something far more targeted such as my right honourable friend have announced today. it is clear

one factor in this crisis is russia's willingness to weapon out its gas supplies. will he confirm if there is any incursion into the ukraine that this country and other international countries will look at weapon i think our banking system, which would be economically catastrophic for russia should they do that. i catastrophic for russia should they do that. . ~ , catastrophic for russia should they do that. ., ~ , ., ., do that. i thank my honourable friend for his _ do that. i thank my honourable friend for his question - do that. i thank my honourable friend for his question on - do that. i thank my honourable friend for his question on the i do that. i thank my honourable - friend for his question on the point of vat. i have nothing further to add. what we are doing is more targeted, faster and more generous to those who need help. i can assure him that with regard to sanctions on russia, absolutely nothing is off the table and we are working very closely with our international partners as the foreign secretary outlined to prepare a robust package of sanctions. the outlined to prepare a robust package of sanctions— of sanctions. the chancellor brags about having _ of sanctions. the chancellor brags about having the _ of sanctions. the chancellor brags about having the fastest _ of sanctions. the chancellor brags about having the fastest recovery, but that is wrong because italy has a higher growth rate. if the economy

is doing so well, why is he still producing a 12 billion tax on workers this financial year? why is it taken to the last minute to try and do something with the cost of living crisis? and why is so much of that eight loan that a bill payers will pay back? he talks about doing a vat cut,... it is illogical. the reality is the treasury is raking it in compared. in an reality is the treasury is raking it in an extra £3 billion this financial year next year from predictions in october was nearly £40 billion higher than what they were for march 2021, a lot of money that they could be freeing up. meanwhile, energy bills increased this year to nearly £i200 up from £700 a year before, an extra .6

billion in vat. the vat increase due to the copyright will bring another 0.8 billion pounds a year. could the chancellor not look at doing something similar? will you confirm that the council tax rebate, how much that will be? will he look at devolving further budgets from power? it has been estimated that an increase in the cap would bring 6 million people into fuel poverty so with his measures what impact has this government made and how many households in fuel poverty, how many will pay because of fuel poverty? lastly, in the highlands of scotland to the highlands generate electricity and send it to the rest of the uk, but yet users in the

highlands pay more for electricity, so when will the treasury remove that ridiculous surcharge for people in the highlands? i am that ridiculous surcharge for people in the highlands?— in the highlands? i am happy to confirm to _ in the highlands? i am happy to confirm to the _ in the highlands? i am happy to confirm to the honourable - in the highlands? i am happy to - confirm to the honourable gentleman that the consequential support scotland will be around £219 million, which i hope will welcome and the chief secretary will be speaking later to go over the details and i hope that the scottish government will choose to do something very similar to what we are doing to the benefit of scottish citizens. scottish citizens will benefit from the rebate on bills because that is the policy. in regard to the broader points on the north sea, there is a clear point of

difference between us on this side of the house and the snp because we believe in the future of the north sea, we believe in the oil and gas industry, we believe in those 200,000 jobs that it support and we want to make sure it plays an important part of our transition to net zero, and i hope he can see that is the right thing for scotland and willjoin us in supporting that very important industry. particularly thoughtful and progressive nature of the actions that he plans to take. does he agree with me that it is right to help not only the poorest but also those on middle incomes who are struggling with their household budgets? mi; with their household budgets? my honourable friend is absolutely right and i know this is something that she is pressed me on on behalf of her constituents. a price increase of this magnitude impact almost everybody and it is right

that our response helps almost everybody. that is what we are doing, making sure that those families who are working hard on household incomes will still get the £150 of support for every household on benefit. we are on the side of hard—working families, and i make no apology for it. indie hard-working families, and i make no apology for it— apology for it. we now have... there is a pinpoint — apology for it. we now have... there is a pinpoint issue _ apology for it. we now have... there is a pinpoint issue about _ apology for it. we now have... there is a pinpoint issue about council- is a pinpoint issue about council tax. in areas like mine and part of london there are not many people in bands london there are not many people in hands a to c, but he was going to fund the council tax rebate because mac will not be fully funded by the exchequer and will there be a weighting of £150 million fund to areas like mine where i have poor households in high value properties? just to confirm, it is a council tax bands just to confirm, it is a council tax hands a to d. obviously that will

vary by region. i can confirm that will be fully exchequer funded and on top of that there will be a discretionary fund of around £150 million which the department for local government will decide the best allocation formula for and that will be used by local authorities to help those low income households who happen to live in higher council tax band properties and those people, students for example, who are exempt from council tax but we want to get the support to them. conservatives believe in holding taxes down and putting more money in people's pockets so they can decide how to spend it. socialists believe in raising taxes and then choosing to give it back in the form of discounts or rebates to selected people the government think are needed. could the chancellor tell me his approach in increasing national insurance contributions and then

handing money back to different people through rebates and discounts, is that a conservative approach or a socialist approach? mr speaker, with the greatest respect, i also believe that it is a conservative approach to be responsible with this nation's public finances. i believe after recovering from the worst economic shockin recovering from the worst economic shock in 300 years, where borrowing spiral to levels not seen since world war ii, that is right and responsible to tackle that and get our borrowing down to sustainable levels, which is why i've had to make difficult decisions. but also to the country's number one priority, the nhs, and an growing number of people waiting for operations. that is what that funding will do. it is right that we provide a secure, long—term sustainable funding for the country, and they should be reassured that every penny of that money is going to go to the thing they care most about. , ., .,, ., ,

about. there is an obvious unfairness _ about. there is an obvious unfairness in _ about. there is an obvious unfairness in the - about. there is an obvious unfairness in the massive | about. there is an obvious - unfairness in the massive profits being made by the oil and gas companies at a time when families are facing such great hardships. surely the chancellor must make an intervention to address that? and he has announced a discretionary fund for local councils. worried families will have no idea how much that will benefit them, if at all. will he instead introduced an uplift in universal credit, having cut in a personal credit so unfairlyjust personal credit so unfairly just four personal credit so unfairlyjust four months ago? it is personal credit so unfairly 'ust four months ago?i four months ago? it is worth -aointin four months ago? it is worth pointing out _ four months ago? it is worth pointing out that _ four months ago? it is worth pointing out that the - four months ago? it is worth pointing out that the energy| pointing out that the energy companies that he took about already are subject to a far higher rate of corporation tax, double the rate than other companies pay. 40% versus currently 19. than other companies pay. 40% versus currentlyi9. i than other companies pay. 40% versus currently 19. i won't repeat my argument is that the windfall tax. we believe the right way is to make sure that people keep more of what they earn, which is why we cut the universal credit taper rate it will

benefit 2 million people of the in our society. benefit 2 million people of the in oursociety. it benefit 2 million people of the in our society. it is the right policy, a conservative policy.— our society. it is the right policy, a conservative policy. many families across the country _ a conservative policy. many families across the country will _ a conservative policy. many families across the country will struggle - across the country will struggle with their energy bills this year, so i am grateful... indie with their energy bills this year, so i am grateful. . ._ with their energy bills this year, so i am grateful... we are leaving the commons _ so i am grateful... we are leaving the commons to _ so i am grateful... we are leaving the commons to bring _ so i am grateful... we are leaving the commons to bring you - so i am grateful... we are leaving i the commons to bring you breaking news. the bank of england has raised interest rates to 0.5%, doubling from 0.25%. it is what was anticipated, and we havejust from 0.25%. it is what was anticipated, and we have just had the confirmation in the past few moments from the bank of england. the move will increase the cost of borrowing for anyone on a variable mortgage. let's talk to our economics editor faisal islam. as expected, that 0.25 rise to 0.5%, taking it back to the post—financial crisis or emergency levels but above

the covid pandemic emergency levels. a hawkish tilt from the bank of england, because it wasn't unanimous rise. it was a 5—4 vote, with the fourin rise. it was a 5—4 vote, with the four in the minority voting for a higher rise of 0.5% stop so it is a clear indication that the thinking in the bank is that they need to raise rates yet higher, notjust that, in the bank of england's forecast, every three months they do a forecast of the economy and of inflation, they now predict an inflation... remember, the target is 2%. 3% is considered high. it is currently 5.4%. they forecast the peak of inflation to be seven and a quarter percent. and that is driven by what we have just been hearing about in terms of the energy cap going up by £700. yes, we have had

the mitigating measures from the chancellor that you have just heard there, but those mitigating measures will only take the edge off of this type of number. seven and a quarter percent inflation is what the bank of england is forecasting. and what they will argue in here, and with a argue in this report, is that they cannot do much about that peak of inflation that is coming in the coming weeks, but they can do something about what happens in a couple of years. and that is why they haven'tjust raised the interest rates by 0.25% to 0.5%, but just below a majority thought it should go up by 0.5%. a clear indication of all the cost of living pressures. but many people will argue, two separate things. that they perhaps should have done is a little bit earlier. in any case, what can interest rates due to some of the pressures you have been hearing from the chancellor of

global energy prices going up and pandemic rebounders that have contributed to this? what they are trying to do is knit in the bout the idea that this inflation, which has come from global energy markets, they are trying to nip it in the blood the notion that it spreads into wage bargains. they are trying to stop that, and that is why we have had a right of 0.25% but we have had a right of 0.25% but we have also had four members of that committee thinking it should have gone up by 0.5%. committee thinking it should have gone up by 0596-— gone up by 0.5%. what is that indicates then _ gone up by 0.5%. what is that indicates then for _ gone up by 0.5%. what is that indicates then for changes - gone up by 0.5%. what is that indicates then for changes to i gone up by 0.5%. what is that i indicates then for changes to the interest rates in the months ahead? this is key. although this is a relatively modest movement, as they already set always our month—to—month, what it shows is that we are now at number two in what is sure now to be a series of interest rate rises. and that will be material, particularly on those people with variable mortgages. so we would expect that to go another

two, or at least by the end of the year you would expect that given the vote we have already had and given the expectations on the market. so this is what you would expect when you have a forecast of inflation reaching over, and i'm going to say it again, 7%. this is nearly a 3! year high, if that was to come to pass. as i said, the direct result is exactly what you have been hearing from the chancellor of the exchequer, and from ofgem, in terms of this price cap going up by nearly £700. i repeat it again, they don't feel they can do much about this near term hit in terms of inflation. but they do feel they can stop that becoming entrenched. they can stop that becoming self—fulfilling. and that becoming self—fulfilling. and thatis that becoming self—fulfilling. and that is what they are trying to do with raising rates and signalling further rate rises to come. find with raising rates and signalling further rate rises to come. and can ou 'ust further rate rises to come. and can you just exolain — further rate rises to come. and can you just explain how— further rate rises to come. and can you just explain how that _ further rate rises to come. and can you just explain how that works - further rate rises to come. and can you just explain how that works in l you just explain how that works in terms of stopping it becoming entrenched with this increase in interest rates, which as you say

will do nothing to global pressures? it's the key question, and i'm glad you asked it. because typically the reason why we say that, the consensus is that if you put up interest rates, you just take some of the steam out of the economy, you make it a bit more difficult, a bit more expensive to borrow in terms of mortgages, a bit more expensive for businesses to borrow cash, so they rain things in a bit, and then that helps bear down on inflation because it takes demand out of the economy. the criticism of that will be, hang on, you are not actually going to affect the root causes of what we are seeing in terms of the high inflation here, which is international, and some of the ships full of international gas that i have been spotting off the coast coming from america with vast quantities of gas at unbelievable prices. it is the bounce back from the pandemic that we have seen, which is an unusual one off. and i

think the counterargument to that, a very reasonable point, would be, to be honest, we are not arguably targeting this extraordinary rise in inflation, we are targeting the notion that that becomes a self—fulfilling, that we expect this 6-7% self—fulfilling, that we expect this 6—7% inflation to last i—2 years, because then that generates its own inflation. it is an exercise in applied psychology. they are trying to say, don't think this inflation is going to last longer and longer. there are reasonable arguments to question whether we are in a different world now. you put your finger on something i think lots of viewers will question, too. because it also raises some costs, mortgage costs for example. we it also raises some costs, mortgage costs for example.— it also raises some costs, mortgage costs for example. we are all on the couch trying — costs for example. we are all on the couch trying to _ costs for example. we are all on the couch trying to work _ costs for example. we are all on the couch trying to work out _ costs for example. we are all on the couch trying to work out what - costs for example. we are all on the couch trying to work out what it - couch trying to work out what it means for our own lives and also the bigger picture. means for our own lives and also the bigger picture-— means for our own lives and also the bigger picture. thank you very much. and it's serious _ bigger picture. thank you very much. and it's serious stuff, _ bigger picture. thank you very much. and it's serious stuff, isn't _ bigger picture. thank you very much. and it's serious stuff, isn't it? - and it's serious stuff, isn't it? thank you, and obviously today is being called by some black thursday because of the combined impact on

the rising cost of living. we have had the interest rate increase doubling from 0.25% to 0.5%, but part of the picture there from the bank of england is that five members of the monetary policy committee voted for interest rates to go up, for want them to go up by more. it is an indication of how they are seeing the picture there. and of course there is that use their on energy prices going up for millions of households across the uk. 22 million households will be impacted by that rise in the increase in the cap on the cost of energy going up by almost £700 from april, after the energy regulator ofgem announced that the cap will increase. and that increase when we talk about an increase when we talk about an increase of around £700, that is the average. if you use more energy, the amount will be higher. if you use less, it will be lower. we can join

lora kuenssberg now. no, she doesn't join us. she has been speaking to the chancellor. we saw him in the commons just a few moments ago. she has been speaking to him and asked him about the measures that the government is taking in response to the rising cost of living. i government is taking in response to the rising cost of living.— the rising cost of living. i know --eole the rising cost of living. i know people are _ the rising cost of living. i know people are worried _ the rising cost of living. i know people are worried about - the rising cost of living. i know people are worried about the l the rising cost of living. i know i people are worried about the cost the rising cost of living. i know - people are worried about the cost of living, and in particular but rising energy bills. and that is why we are taking direct action with in energy bills rebate which will provide the majority of families with £350 of financial support to help them adjust to those higher prices. people will receive that £350 in two different ways. for the vast majority, £150 in april as a discount to their council tax bills, and then in october, another £200 as and then in october, another £200 as a rebate on their energy bills, a rebate on their energy hills, which will be repaid overfive a rebate on their energy hills,

which will be repaid over five years starting next april.— starting next april. where's the money going — starting next april. where's the money going to _ starting next april. where's the money going to come _ starting next april. where's the money going to come from? i starting next april. where's the l money going to come from? this starting next april. where's the - money going to come from? this is the fiscally — money going to come from? this is the fiscally responsible _ money going to come from? this is the fiscally responsible approach i money going to come from? this is the fiscally responsible approach to resolving this problem, in my view. there are two components to the support. one, the bigger one, is repayable. the 200 rebate that people will receive an october will be repaid, but overfive people will receive an october will be repaid, but over five years starting next april, at £40 a year. and the other component, which is direct cash to families, is generally one off. and you would expect me to make provisions for things like this, and that is when i talk about the importance of getting our borrowing and debt down. part of the reason i talk about that is that we can respond where we need to do situations like this. the we can respond where we need to do situations like this.— situations like this. the chancellor talkinu situations like this. the chancellor talkin: to situations like this. the chancellor talking to lora _ situations like this. the chancellor talking to lora kuenssberg - situations like this. the chancellor talking to lora kuenssberg in i talking to lora kuenssberg in response to rishi sunak�*s enhancement in the comments. the shadow chancellor rachel reeves told the commons labour would do things differently... the government had a choice. shell announced — the government had a choice. shell announced their profits had

quadrupled to $20 million. they describe _ quadrupled to $20 million. they describe the results as momentous. dividends— describe the results as momentous. dividends are up, profits are up, and people's energy bills up, too. labour's _ and people's energy bills up, too. labour's plan would impose a one—off windfall— labour's plan would impose a one—off windfall tax _ labour's plan would impose a one—off windfall tax on those excess profits _ windfall tax on those excess profits. but this chancellor would rather _ profits. but this chancellor would rather shield the oil and gas producers while at the same time loading _ producers while at the same time loading the cost on to working people — loading the cost on to working people and pensioners. cabinet ministers — people and pensioners. cabinet ministers have described the oil and -as ministers have described the oil and gas producers as struggling. struggling, mr speaker! tell that to the one _ struggling, mr speaker! tell that to the one in— struggling, mr speaker! tell that to the one in five people who are already— the one in five people who are already skipping bills so they can pay their— already skipping bills so they can pay their energy bills. —— skipping meals _ pay their energy bills. —— skipping meals mr— pay their energy bills. —— skipping meals. mr speaker, this energy crisis _ meals. mr speaker, this energy crisis has — meals. mr speaker, this energy crisis has not happened overnight. it is a _ crisis has not happened overnight. it is a decade of dither and delay from _ it is a decade of dither and delay from the — it is a decade of dither and delay from the party opposite that has brought— from the party opposite that has brought us to this point. a decade of failure — brought us to this point. a decade of failure to regulate our energy market. — of failure to regulate our energy market. a — of failure to regulate our energy market, a decade in which they have slashed _

market, a decade in which they have slashed our— market, a decade in which they have slashed our gas storage capacity, leaving _ slashed our gas storage capacity, leaving us— slashed our gas storage capacity, leaving us more reliant than ever on russia _ leaving us more reliant than ever on russia for— leaving us more reliant than ever on russia for our gas imports. a decade of failure _ russia for our gas imports. a decade of failure to — russia for our gas imports. a decade of failure to make the most of solar, — of failure to make the most of solar, tidal and wind energy. and a decade _ solar, tidal and wind energy. and a decade of— solar, tidal and wind energy. and a decade of stalled progress on insulating our homes to keep a bills low, not _ insulating our homes to keep a bills low, notjust for one insulating our homes to keep a bills low, not just for one year but into the future, — low, not just for one year but into the future, too. low, notjust for one year but into the future, too.— the future, too. that was rachel reeves responding _ the future, too. that was rachel reeves responding to _ the future, too. that was rachel reeves responding to rishi i the future, too. that was rachel. reeves responding to rishi sunak. lots of you getting in touch with that this is impacting on you. neville says "i don't put the heating on in winter, it is too expensive. my hope is all electric. i boil waterfor washing up. expensive. my hope is all electric. i boilwaterforwashing up. i expensive. my hope is all electric. i boil waterfor washing up. i have an electric shower i can switch on and off, this saves a lot of money. john, "how can these energy companies justify john, "how can these energy companiesjustify the john, "how can these energy companies justify the increase when the likes of shell are making £i2 the likes of shell are making £12 billion in profit. it is pure greed and profiteering." please do keep getting in touch with me. right now,

it is time to say goodbye to viewers watching on bbc two. coverage continues here on the bbc news channel. goodbye. more now from our political correspondent peter saull. we have heard from the chancellor in terms of what he is going to be doing to mitigate the increase in the cost of energy bills, but it has already been pointed out that it covers basically half of what the average increase going to be. fir average increase going to be. (1) even less, you could argue. he says £350 is half ofjust under £700 of the average energy bill, but part of that will be a discount on the council tax in april, but the £200 part which will come of your energy bill in april next year you will have to pay back. £40 a year over the next five years. it is obviously

a number, rachel reeves are saying this is a buy—back payback later scheme. any chancellor insisting that this is a balanced, very generous offer. interesting to see a clear dividing line between the two parties on this in how they would approach it. the labour party saying that they would cut vat on energy bills and also introduce a windfall tax on large gas and oil producers, and pass that on to the customer to help people out. the conservatives in government deciding that they are going to do things in a slightly different way, but as you have been hearing, interest rates going up means lots of people mortgage repayments will be going up, national insurance rises on the way, too. so the cost of living is becoming a major, major talking point for millions of families up and down the country, including here in westminster, too. find and down the country, including here in westminster, too.— in westminster, too. and do you think we have _ in westminster, too. and do you think we have heard _ in westminster, too. and do you think we have heard now- in westminster, too. and do you think we have heard now the i in westminster, too. and do you l think we have heard now the limits of where the government is going to go in terms of support? this of where the government is going to go in terms of support?—

go in terms of support? this is what the are go in terms of support? this is what they are saying _ go in terms of support? this is what they are saying for— go in terms of support? this is what they are saying for the _ go in terms of support? this is what they are saying for the moment. it | they are saying for the moment. it may well be the case that in future rishi sunak is to come back to the dispatch box and announce more help. we will have to wait and see how much impact this has, how much constituents up and down the country are telling their local mps about it and whether pressure builds on the government to do more. for now, certainly, the line from government is that this is a very generous offer. it will help millions of struggling households. and they're pointing out that with the council tax discount, this is homes from bands tax discount, this is homes from hands a — d. it is notjust people on the very lowest incomes, but people on middle incomes to have also been struggling to pay the bills of late. also been struggling to pay the bills of late-— also been struggling to pay the bills of late. ., ~ i. , . bills of late. thank you very much, peter. let's go to leicester. sarah, over to you. let's go to leicester. sarah, over to ou. ., ., to you. good afternoon from the high street here in —

to you. good afternoon from the high street here in leicester. _ to you. good afternoon from the high street here in leicester. as _ to you. good afternoon from the high street here in leicester. as you i street here in leicester. as you have heard there, inflation is at a near 30 year have heard there, inflation is at a near30 year high, have heard there, inflation is at a near 30 year high, driven in part by those soaring energy bills but also increases in food costs and petrol prices. as we have heard in the last hour or so, prices. as we have heard in the last hour orso, ofgem prices. as we have heard in the last hour or so, ofgem has prices. as we have heard in the last hour orso, ofgem has said prices. as we have heard in the last hour or so, ofgem has said that the average energy bill will go up by around £700 a year. a50 li% increase. it is important to say that this is the average bill based on people who use a typical amount of energy. so if you use more than that then you will pay more, and if you use less you will pay less. to get reaction to all of this and to find out what impact it will have on millions of people who are already feeling the squeeze, i am joined people who are already feeling the squeeze, lam joined now people who are already feeling the squeeze, i am joined now by leah chapman from e to community hub, and louise who has been supported by the organisation. first question to you leah, tell us a bit about the work you do and what the demand has been like in recent months? we

you do and what the demand has been like in recent months?— like in recent months? we work with loads of different _ like in recent months? we work with loads of different organisations, i like in recent months? we work with loads of different organisations, do i loads of different organisations, do youth _ loads of different organisations, do youth sessions, we have our food pantry _ youth sessions, we have our food pantry. the — youth sessions, we have our food pantry. the food pantry is the main thing _ pantry. the food pantry is the main thing at _ pantry. the food pantry is the main thing at the — pantry. the food pantry is the main thing at the moment. 130 people on the list _ thing at the moment. 130 people on the list. and it is helping people save _ the list. and it is helping people save money on their weekly shopping bills. save money on their weekly shopping bills we _ save money on their weekly shopping bills. we work with other organisations, we do the holiday homeless — organisations, we do the holiday homeless scheme which gives young people _ homeless scheme which gives young people free lunches through the holiday— people free lunches through the holiday period. something that the parents _ holiday period. something that the parents don't have to worry about. tell me _ parents don't have to worry about. tell me a — parents don't have to worry about. tell me a little bit more about the food pantry. that gives people accents to discounted food items? it accents to discounted food items? it is a subscription service and we replaced — is a subscription service and we replaced that with the food bank that was— replaced that with the food bank that was there beforehand, just for private _ that was there beforehand, just for private reasons. so the people they don't _ private reasons. so the people they don't want — private reasons. so the people they don't want to access the food bank will access— don't want to access the food bank will access the food pantry, and they— will access the food pantry, and theyiust — will access the food pantry, and theyjust get their food at a lower cost _ theyjust get their food at a lower cost~ 50_ they 'ust get their food at a lower cost, ,., they 'ust get their food at a lower cost. ,., ., , they 'ust get their food at a lower cost. ., , ., cost. so some really important su ort cost. so some really important support their— cost. so some really important support their families - cost. so some really important support their families like i cost. so some really important i support their families like yours, louise. tell me what support you

have had? taste louise. tell me what support you have had? ~ , louise. tell me what support you have had?— louise. tell me what support you have had? ~ , , have had? we use the food pantry. i have had? we use the food pantry. i have done for— have had? we use the food pantry. i have done for a _ have had? we use the food pantry. i have done for a few _ have had? we use the food pantry. i have done for a few months - have had? we use the food pantry. i have done for a few months now. i have had? we use the food pantry. i have done for a few months now. so that helps _ have done for a few months now. so that helps. my— have done for a few months now. so that helps. my two _ have done for a few months now. so that helps. my two youngest - that helps. my two youngest children. _ that helps. my two youngest children, they— that helps. my two youngest children, they go _ that helps. my two youngest children, they go to - that helps. my two youngest children, they go to ee i that helps. my two youngest children, they go to ee to i that helps. my two youngest i children, they go to ee to twice a week _ children, they go to ee to twice a week one — children, they go to ee to twice a week one of— children, they go to ee to twice a week. one of them _ children, they go to ee to twice a week. one of them helps- children, they go to ee to twice a week. one of them helps out- children, they go to ee to twice a week. one of them helps out on| children, they go to ee to twice al week. one of them helps out on a saturday — week. one of them helps out on a saturday. they _ week. one of them helps out on a saturday. they get _ week. one of them helps out on a saturday. they get fed. _ week. one of them helps out on a saturday. they get fed. so - week. one of them helps out on a saturday. they get fed. so it's i saturday. they get fed. so it's something _ saturday. they get fed. so it's something i_ saturday. they get fed. so it's something i don't— saturday. they get fed. so it's something i don't have - saturday. they get fed. so it's something i don't have to- saturday. they get fed. so it's. something i don't have to worry about — something i don't have to worry about and _ something i don't have to worry about. and they _ something i don't have to worry about. and they love _ something i don't have to worry about. and they love doing i something i don't have to worry about. and they love doing it. i something i don't have to worry. about. and they love doing it. you can talk— about. and they love doing it. you can talk to — about. and they love doing it. you can talk to them _ about. and they love doing it. you can talk to them about _ about. and they love doing it. you can talk to them about anything. i about. and they love doing it. you| can talk to them about anything. if your child — can talk to them about anything. if your child is — can talk to them about anything. if your child is struggling, _ can talk to them about anything. if your child is struggling, they- can talk to them about anything. if your child is struggling, they havel your child is struggling, they have -ot your child is struggling, they have got someone _ your child is struggling, they have got someone they— your child is struggling, they have got someone they can _ your child is struggling, they have got someone they can talk - your child is struggling, they have got someone they can talk to. i your child is struggling, they have got someone they can talk to. we are talkin: a got someone they can talk to. we are talking a lot — got someone they can talk to. we are talking a lot about _ got someone they can talk to. we are talking a lot about energy _ got someone they can talk to. we are talking a lot about energy bills - talking a lot about energy bills going up today and hearing that the average energy bill is likely to go up average energy bill is likely to go up by £700 a year. hearing that, what is your reaction? what impact will it have on your family and your choices? ~ ., ., ., . choices? well, i would have to cut down on food. _ choices? well, i would have to cut down on food, get _ choices? well, i would have to cut down on food, get stuff _ choices? well, i would have to cut down on food, get stuff i - choices? well, i would have to cut down on food, get stuff i can i down on food, get stuff i can freeze. — down on food, get stuff i can freeze. buy— down on food, get stuff i can freeze, buy bulk—

down on food, get stuff i can freeze, buy bulk instead i down on food, get stuff i can freeze, buy bulk instead of l down on food, get stuff i can i freeze, buy bulk instead of buying week— freeze, buy bulk instead of buying week by— freeze, buy bulk instead of buying week by week _ freeze, buy bulk instead of buying week by week. money _ freeze, buy bulk instead of buying week by week. money only- freeze, buy bulk instead of buying week by week. money only comes freeze, buy bulk instead of buying i week by week. money only comes in once a _ week by week. money only comes in once a month — week by week. money only comes in once a month so _ week by week. money only comes in once a month so you _ week by week. money only comes in once a month so you have _ week by week. money only comes in once a month so you have to - week by week. money only comes in once a month so you have to cater . once a month so you have to cater for your— once a month so you have to cater for your gas, — once a month so you have to cater for your gas, your— once a month so you have to cater for your gas, your electric, - once a month so you have to cater for your gas, your electric, your i for your gas, your electric, your food _ for your gas, your electric, your food the — for your gas, your electric, your food. the children, _ for your gas, your electric, your food. the children, they- for your gas, your electric, your food. the children, they will. for your gas, your electric, your i food. the children, they will want pennies — food. the children, they will want ennies. ., ., ., , pennies. how often are you putting the heatina pennies. how often are you putting the heating on _ pennies. how often are you putting the heating on at _ pennies. how often are you putting the heating on at the _ pennies. how often are you putting the heating on at the moment? i pennies. how often are you putting| the heating on at the moment? are you really making that conscious decision to only put it on when you really need to? taste decision to only put it on when you really need to?— really need to? we put it on in the morninas really need to? we put it on in the mornings to _ really need to? we put it on in the mornings to get — really need to? we put it on in the mornings to get rid _ really need to? we put it on in the mornings to get rid of— really need to? we put it on in the mornings to get rid of the - really need to? we put it on in the mornings to get rid of the chill. i really need to? we put it on in the | mornings to get rid of the chill. we will probably— mornings to get rid of the chill. we will probably put _ mornings to get rid of the chill. we will probably put it _ mornings to get rid of the chill. we will probably put it on _ mornings to get rid of the chill. we will probably put it on at _ mornings to get rid of the chill. we will probably put it on at night i mornings to get rid of the chill. we will probably put it on at night so . will probably put it on at night so everyone — will probably put it on at night so everyone who _ will probably put it on at night so everyone who has _ will probably put it on at night so everyone who has a _ will probably put it on at night so everyone who has a bath - will probably put it on at night so everyone who has a bath has i will probably put it on at night so everyone who has a bath has a l will probably put it on at night so i everyone who has a bath has a bath, and the _ everyone who has a bath has a bath, and the grandson _ everyone who has a bath has a bath, and the grandson can— everyone who has a bath has a bath, and the grandson can go— everyone who has a bath has a bath, and the grandson can go to - everyone who has a bath has a bath, and the grandson can go to bed - everyone who has a bath has a bath, | and the grandson can go to bed warm instead _ and the grandson can go to bed warm instead of— and the grandson can go to bed warm instead of going — and the grandson can go to bed warm instead of going to _ and the grandson can go to bed warm instead of going to bed _ and the grandson can go to bed warm instead of going to bed cold. - and the grandson can go to bed warm instead of going to bed cold. and - instead of going to bed cold. and then it _ instead of going to bed cold. and then it witi— instead of going to bed cold. and then it will go _ instead of going to bed cold. and then it will go off— instead of going to bed cold. and then it will go off when _ instead of going to bed cold. and then it will go off when we - instead of going to bed cold. and then it will go off when we go - instead of going to bed cold. and| then it will go off when we go up. so probably— then it will go off when we go up. so probably two— then it will go off when we go up. so probably two hours _ then it will go off when we go up. so probably two hours in- then it will go off when we go up. so probably two hours in the - so probably two hours in the morning. _ so probably two hours in the morning. two— so probably two hours in the morning, two hours- so probably two hours in the morning, two hours at - so probably two hours in the| morning, two hours at night, so probably two hours in the - morning, two hours at night, that is how it _ morning, two hours at night, that is how it stays — morning, two hours at night, that is how it stays and_ morning, two hours at night, that is how it stays— how it stays. and a question from both of yon _ how it stays. and a question from both of you. we _ how it stays. and a question from both of you. we have _ how it stays. and a question from both of you. we have heard - how it stays. and a question from both of you. we have heard from| how it stays. and a question from i both of you. we have heard from the government that they are extending some of the targeted support for people on lower incomes, of things like the warm home discount, £140 of

the bill potentially for 3 million people. and then also a package where another £350 could come of people's bills. will that help to ease the pressure on the people you see? ., , , , , ease the pressure on the people you see? .,, , , , . ease the pressure on the people you see? . , , see? possibly. i mean, it depends how peeple _ see? possibly. i mean, it depends how peeple use — see? possibly. i mean, it depends how people use it. _ see? possibly. i mean, it depends how people use it. i— see? possibly. i mean, it depends how people use it. i think - see? possibly. i mean, it depends how people use it. i think if - see? possibly. i mean, it depends how people use it. i think if it - how people use it. i think if it gets— how people use it. i think if it gets abandoned, people are going to find themselves in a lot of debt. but if— find themselves in a lot of debt. but if it— find themselves in a lot of debt. but if it is— find themselves in a lot of debt. but if it is something that is genuinely going to help, yet. thank ou so genuinely going to help, yet. thank you so much _ genuinely going to help, yet. thank you so much for— genuinely going to help, yet. thank you so much for sparing _ genuinely going to help, yet. thank you so much for sparing the - genuinely going to help, yet. thank you so much for sparing the time i genuinely going to help, yet. ’i�*isg�*iaz you so much for sparing the time to speak to us about all of that. and i think you have heard they are, in april the financial impact on millions of families will be immediate and it will be immense. later on this afternoon, we are going to be speaking to an energy expert to try to get some practical advice on what we can all do to try to bring our bills. thank you very much, sarah.

and at 2:30 this afternoon we'll be answering your questions on energy prices following ofgem's announcement. get in touch with the hashtag bbcyourquestions — or you can email yourquestions@bbc.co.uk. another factor is the increase in the bank of england interest rates going up to 0.5%. we can get more reaction. ruth gregory, senior uk economist, capital economics. do you think this is the right move? for thought the increase should be higher than 0.25%.— higher than 0.25%. yes, that's riuht. i higher than 0.25%. yes, that's right. ithink— higher than 0.25%. yes, that's right. i think inflation - higher than 0.25%. yes, that's right. i think inflation has- higher than 0.25%. yes, that'si right. i think inflation has been far higher— right. i think inflation has been far higherand it right. i think inflation has been far higher and it has risen far quicker— far higher and it has risen far quicker than the bank of england thought. — quicker than the bank of england thought, that is reflected in the new forecast the bank of england

published today, in which it expects the peak— published today, in which it expects the peak to rise to seven and a quarter— the peak to rise to seven and a quarter percent in april. that is a huge _ quarter percent in april. that is a huge two — quarter percent in april. that is a huge two percentage points higher than its _ huge two percentage points higher than its previous forecast. and i think— than its previous forecast. and i think the — than its previous forecast. and i think the past month really has shown— think the past month really has shown that these inflationary pressures are broadening out. what started _ pressures are broadening out. what started initially by a surge in energy— started initially by a surge in energy prices, the bank of england is acutely— energy prices, the bank of england is acutely aware that this could become — is acutely aware that this could become longer lasting if it gets baked — become longer lasting if it gets baked into decisions about prices and wages. and this is the so—called wage _ and wages. and this is the so—called wage price _ and wages. and this is the so—called wage price spiral where workers ask for higher— wage price spiral where workers ask for higher pay duty rises in their cost _ for higher pay duty rises in their cost of— for higher pay duty rises in their cost of living, and firms raise their— cost of living, and firms raise their prices to raise their margins, and it— their prices to raise their margins, and it becomes a self reinforcing repeating — and it becomes a self reinforcing repeating process, fuelling more inflation — repeating process, fuelling more inflation i— repeating process, fuelling more inflation. i think the bank of england _ inflation. i think the bank of england has decided today that now is the _ england has decided today that now is the time to act to stop these inflationary pressures from building. and it is shown today that it means _ building. and it is shown today that it means business. as you said, for members _ it means business. as you said, for members of— it means business. as you said, for members of the committee actually

voted _ members of the committee actually voted to— members of the committee actually voted to raise interest rates even further _ voted to raise interest rates even further than 0.5%. the voted to raise interest rates even further than 0.5%.— voted to raise interest rates even further than 0.5%. the economy is a really complicated _ further than 0.5%. the economy is a really complicated picture _ further than 0.5%. the economy is a really complicated picture with - really complicated picture with factors from many different directions. it is a pretty crude lever when it comes to putting up interest rates and terms of the impact. how does it help to bring down inflation, and what are the possible impacts on economic growth? and also, increasing the cost of living even more for some. it is not going to impact on everybody, but for those on variable mortgage rates it will further increase the cost of living. it will further increase the cost of livina. . . v it will further increase the cost of livina. . . 3 ~ living. yes, that's right. i think in the grand — living. yes, that's right. i think in the grand scheme _ living. yes, that's right. i think in the grand scheme of- living. yes, that's right. i think in the grand scheme of thingsl living. yes, that's right. i think i in the grand scheme of things the rise is— in the grand scheme of things the rise is fairly modest. what it does do realty— rise is fairly modest. what it does do really is — rise is fairly modest. what it does do really isjust send a signal that the bank— do really isjust send a signal that the bank of england is ready to act to try— the bank of england is ready to act to try to— the bank of england is ready to act to try to take out some of the inflationary pressure from the economy _

inflationary pressure from the economy. of course, it does for the vast majority — economy. of course, it does for the vast majority of households it won't cost anything more for it now, given that i'm _ cost anything more for it now, given that i'm thinking of people who are renting _ that i'm thinking of people who are renting or— that i'm thinking of people who are renting or have paid off their mortgages are on fixed rate mortgages. but for those 20% outstanding mortgages on a variable rate, these borrowing costs will rise _ rate, these borrowing costs will rise and — rate, these borrowing costs will rise and if— rate, these borrowing costs will rise. and if we do see successive rises _ rise. and if we do see successive rises in _ rise. and if we do see successive rises in interest rates, as we think may be _ rises in interest rates, as we think may be the — rises in interest rates, as we think may be the case over the course of this year. _ may be the case over the course of this year, then that will feed through— this year, then that will feed through into higher mortgage rates on new— through into higher mortgage rates on new mortgages. we think the average — on new mortgages. we think the average could reach perhaps around 2.5% average could reach perhaps around 25% by— average could reach perhaps around 25% by the — average could reach perhaps around 2.5% by the end of this year, up from _ 2.5% by the end of this year, up from around 1.6% now. as you say, these _ from around 1.6% now. as you say, these rises — from around 1.6% now. as you say, these rises in — from around 1.6% now. as you say, these rises in borrowing come on top of the _ these rises in borrowing come on top of the rises _ these rises in borrowing come on top of the rises in energy costs we have seen, _ of the rises in energy costs we have seen. rising— of the rises in energy costs we have seen, rising food prices, the step up seen, rising food prices, the step up in _ seen, rising food prices, the step up in national insurance contributions from april. so a lot of pressure — contributions from april. so a lot of pressure on the spending power,

and these _ of pressure on the spending power, and these are things some cat avoid. so i and these are things some cat avoid. so i think— and these are things some cat avoid. so i think it _ and these are things some cat avoid. so i think it will be a big strain on people's living standards, and salaries — on people's living standards, and salariesjust won't on people's living standards, and salaries just won't stretch as far as they— salaries just won't stretch as far as they used to.— as they used to. how would you envisa . e as they used to. how would you envisage the — as they used to. how would you envisage the economic - as they used to. how would you | envisage the economic pressures as they used to. how would you - envisage the economic pressures of playing out? we have heard from the bank of england, they expect inflation to peak at 7.5% in april. in terms of interest rate rises, what would you anticipate? yeah, i think this is — what would you anticipate? yeah, i think this is unlikely _ what would you anticipate? yeah, i think this is unlikely to _ what would you anticipate? yeah, i think this is unlikely to be - what would you anticipate? yeah, i think this is unlikely to be the - think this is unlikely to be the last rate — think this is unlikely to be the last rate hike we see. we may see perhaps— last rate hike we see. we may see perhaps as — last rate hike we see. we may see perhaps as many three more over the course _ perhaps as many three more over the course of— perhaps as many three more over the course of this year. so the bank of engtand _ course of this year. so the bank of england did sort of leave the door open _ england did sort of leave the door open in _ england did sort of leave the door open in its — england did sort of leave the door open in its communications today to more _ open in its communications today to more interest rate hikes, saying that more — more interest rate hikes, saying that more further modest tightening would _ that more further modest tightening would be _ that more further modest tightening would be needed in the coming months — would be needed in the coming months. so i think i'd characterise this really— months. so i think i'd characterise this really is — months. so i think i'd characterise this really is the start of a series

of rises — this really is the start of a series of rises in — this really is the start of a series of rises in interest rates to help keep— of rises in interest rates to help keep the — of rises in interest rates to help keep the lid on these inflationary pressures— keep the lid on these inflationary pressures and bring inflation back to the _ pressures and bring inflation back to the 2% — pressures and bring inflation back to the 2% target further ahead. ruth gre . o , to the 2% target further ahead. ruth gregory. thank— to the 296 target further ahead. ruth gregory. thank you _ to the 2% target further ahead. firth gregory, thank you very much for joining us. and you can find out more information online, about how an interest rate rise might affect you and your finances — on bbc.co.uk/news/business. backin back ina back in a few moments with all the latest headlines. first, though, let's catch up with the weather. temperatures are actually heading in a downwards direction. that cold air ushered in by a cold front that is going to start wringing wet and windy weather into north—west scotland and northern ireland this afternoon. england and wales mostly dry with some sunshine, increasing amounts of sunshine. still in the mild airfor now. but tonight

amounts of sunshine. still in the mild air for now. but tonight this cold front sinks south eastwards with some rain on the back edge over high ground we will see some snow mixing in. ahead of that front, still a relatively mild night in prospect, but behind it there is temperatures dropping away with frequent wintry showers and to the north—west. to quite low levels across parts of scotland. ice could be an issue for parts of scotland and northern ireland tomorrow as well. tomorrow, we lose that weather front. it is a sunshine and showers stay. gusts of 30 — 50 mph in places. that cold air in place, a very different feel. afternoon temperatures between four and 9 degrees.

energy prices will rise by nearly £700 a year for millions of households after regulator ofgem hiked the price cap on bills to £1,971 — equivalent to a 5k per cent increase. the chancellor, rishi sunak, has announced a £200 discount on all electricity bills — which will later be repaid — and a £150 council tax rebate for those in bands a to d. the bank of england has raised interest rates for the second time in three months to try to curb a rapid rise in the cost of living. the increase to 0.5% from 0.25 per cent comes as the bank said inflation is on course to hit a 30—year high. a bbc poll suggests around a third of adults working full time are struggling with bills, with nearly 30% saying they'd skipped meals in the past six months to save money. the bbc understands that northern ireland's first minister, paul givan, intends to resign later today as a protest against the existing checks on goods coming

from the rest of the uk. the move comes after northern ireland's agriculture minister last night ordered a halt to checks. and vets at chester zoo are embarking on a world—first trial of a vaccine that could save the lives of young elephants. raith rovers football club has apologised for the recent of signing david goodwillie, and promised not play him in any matches. the striker was ruled to be a rapist and ordered to pay damages in a civil case in 2017. the decision to sign him caused sponsors to pull out, and the captain of the club's women's team to resign. the chief executive of scottish women's football said it would have devastating consequences for the game. earlier, our scotland correspondent alexandra mckenzie gave us this update. this story has been ongoing for a couple of days now. the kirkcaldy club raith rovers signed david goodwillie on monday,

and following that there has been mounting criticism from people including the former prime minister, gordon brown, who is a supporter of the club, and also from the first minister, nicola sturgeon, he said that the club should think again. there were resignations and sponsors pulled out. but now, in the last half hour, the club has given out a statement and they have said that they were wrong. now, in that statement they said, "in reaching our original decision," they said that they focused too much on football matters and not enough on what this decision would mean for the club and for the community as a whole. they said that over the past couple of days they had listened carefully and that they had learnt a hard but valuable lesson. it goes on to say the player will not be selected by raith rovers and they would enter into discussions with the player regarding his contractual position.

so we do await details about what that actually means. david goodwillie was ruled to be a rapist in a civil case in 2017. he said the sex was consensual. so when they say that the club will enter discussions with the player regarding his contractual position, that obviously doesn't rule out a situation where he stays on the payroll. is it clear what the options are here? i think, on that point, we have just received the statement — it was on raith rovers's website this morning. there has been mounting pressure from all angles, as i said — from politicians, from within the club, from the community, and yes, i think you're right. the key point which i think we possibly do need clarity on is the player will not be "selected" by raith rovers.

he was signed by raith rovers on monday and they would enter into discussions regarding the contractual position. so, in terms of reaction. and some people as we've been saying have taken really strong steps on this. they've left their jobs. presumably they won't settle for a situation where he stays on the payroll, so this presumably has some time to run? yes, i think people will start reacting to this. i was told just as i came on that val mcdermott has reacted on twitter. i haven't had a chance to look at that tweet. yesterday, she was on radio four's women's hour, she said she was a sponsor of the club, she withdrew her sponsorship. she had been a supporter of raith rovers since she was a child. she said that she has now ripped up her season ticket and withdrawn that sponsorship. yes, i think there will be a lot of reaction to this, and certainly not the end

of this story. they have just announced them that they are looking very fine on their bafta feed. june is the film that leaves the way with 11 nominations and this is always going to happen with a big sci—fi epic which is so much great cinematography. so this is leading the way. it has been nominated for best film and behind it comes jane campion's power of the dog, on netflix, starring benedict cumberbatch. it has been nominated

for best director and best film. following that, with six nominations is belfast which has just come out in uk cinemas. a white memoir of the belfast when divisions split. that has a six nominations, including for best film and outstanding british film. it is important with the baftas that we have best film and best british film. sometimes that is a good thing and sometimes it get wise's british film butter belfast has made the cut in both categories, as is power of the dog and british film i've seen really strong talent nominated in there, a real mix of approaches to film—making, the really indie film—making like after love and a bit about an interracial romance in bradford. and no time to

die, the james bond movie. it is cinema, did it not? even that has been recognised. i thought daniel craig might get in there as best actor, but they don't driving, shooting and demoting among those things! a really interesting mix that we are not to limitjust processing. i was worried we would have a repeat of the lack of diversity being levelled at bafta, but they have changed the membership over the past year or so and the boating really has, we have seen a levelling up. we have seen diversity in action here in the voting, especially... they had been split. three people of colour nominated. tessa thompson, will smith, ariana debose from website story, the actor

in king richard, the film about serena and venus williams. many people will be delighted that there are three women in the best directors, including for a film called happening and jane campion for power of the dog. a real spread of votes to come in to show the diversity of film. that is a change picture in terms of what that means going forward. you picture in terms of what that means going forward-— going forward. you always look to the oscars. _ going forward. you always look to the oscars, how _ going forward. you always look to the oscars, how much _ going forward. you always look to the oscars, how much of - going forward. you always look to the oscars, how much of an - going forward. you always look to l the oscars, how much of an impact this will have. we have had the golden globes which has been a change seen this year as well. it is quite difficult to get a grip. it quite difficult to get a grip. ft is, and whether this will impact on the oscars, the first round voting has just closed. this the oscars, the first round voting hasjust closed. this is the oscars, the first round voting has just closed. this is a the oscars, the first round voting hasjust closed. this is a proudly bafta bunch. i don't think we will

see a repeat of all of these in the oscars. it is globally skewed and quite diverse. this is quite a fresh, surprising set of results in a very good way, but i think think the nominations for directors are very global, and i think we are a global hub. abs, very global, and i think we are a global hub-— very global, and i think we are a global hub. a lot of smaller films that people _ global hub. a lot of smaller films that people might _ global hub. a lot of smaller films that people might not _ global hub. a lot of smaller films that people might not have - global hub. a lot of smaller films j that people might not have heard global hub. a lot of smaller films - that people might not have heard of. the big blaster no time to die, but at the same time that it in one field —— blockbuster. people will be going, i haven't heard of any of these. . ., . going, i haven't heard of any of these. . .,,, going, i haven't heard of any of these. , ., , , , . going, i haven't heard of any of these. , , , . ., these. this has been such a difficult film _ these. this has been such a difficult film for _ these. this has been such a difficult film for cinema. - these. this has been such a i difficult film for cinema. apart from the blockbusters, or house of gucci which got a feud nominations.

it hasn't really fed through. i enjoyed it, it was quite a laugh but it is no best movie. i loved it! so did i, but we are talking about a high level of art!— did i, but we are talking about a high level of art! ridley scott did make it. high level of art! ridley scott did make it- is _ high level of art! ridley scott did make it. is he _ high level of art! ridley scott did make it. is he nominated - make it. is he nominated as director?— make it. is he nominated as director? ., , ., , , , director? no, it is not his best work. director? no, it is not his best work- alien — director? no, it is not his best work. alien is _ director? no, it is not his best work. alien is better! - director? no, it is not his best work. alien is better! i- director? no, it is not his best work. alien is better! i think l work. alien is better! i think we are seeing some films that people haven't seen and have got lost between the cracks of not being released into cinema or being released into cinema or being released straight to streaming services, netflix and amazon, do some films i did make it into the cinema like house of gucci, like dune. don't look up, everyone

thought that. leonardo dicaprio has been nominated for best actor in that. it was a film that hit home and caused a lot of debate because it was a satire about whether we ignore what is right in front of our faces in terms of the environment or of covid. i thought it was really smart. we are seeing a mix of that alongside much more precious gems that people have found, like after love. lots of people won't have seen those movies if they are not lucky enough to go to festivals. but after loveis enough to go to festivals. but after love is a gorgeous phone with a beautiful performance and she has been nominated for best actress, which is fantastic for her. we are seeing a real mix. lady gaga. the

actress from liquorice peter. both are from the pop world. and we are seeing a norwegian actress, the worst person in the world, and joanna scanlon, a wonderful performance in the film after love. i haven't seen a lot of these. in terms of the changing nature of the film industry, obviously the pandemic has had the impact we have talked about under streaming companies investing hugely in films. there are a lot of netflix films. do you think that the whole business of the way that films are recognised has now changed completely, because it was always the case, you could bank which of the films would be out there and it was obviously the big film production company.- film production company. that's ri . ht, film production company. that's right. the big —

film production company. that's right, the big martin _ film production company. that's right, the big martin marketingl right, the big martin marketing spend. now it is about reach. is it on your phone, the computer screen? we are seeing the voters, 7000 of them here at bafta, they don't really mind where, as long as it feels like a movie and does what movies need to do, connect with audiences. so we are seeing a mix still, it is not dominated by streamers it is about the way you tell stories and it is up to audiences to find things. that is why we have this nice list of stuff. shall i watch after love? it why we have this nice list of stuff. shall i watch after love?- why we have this nice list of stuff. shall i watch after love? if you can find after love, _ shall i watch after love? if you can find after love, it _ shall i watch after love? if you can find after love, it will _ shall i watch after love? if you can find after love, it will be _ shall i watch after love? if you can find after love, it will be a - shall i watch after love? if you can find after love, it will be a lovely l find after love, it will be a lovely way to spend your evening. the bbc understands that northern ireland's first minister, paul givan of the democratic unionist party, is preparing to resign. the move is part of the dup protest against the northern ireland protocol

and follows the announcement from the agriculture minister edwin poots last night that checks on goods arriving in northern ireland from great britain would be suspended, prompting accusations from the eu that the democratic unionists are breaching international law. earlier our ireland correspondent chris page gave us this update. it is understood that paul givan this afternoon is set to submit a letter of resignation from his post as first minister. now, when the resignation would take effect is unclear. it could be immediately. it could be later on, perhaps next week. it is worth bearing in mind that next thursday ministers in the stormont executive are due to meet to discuss the remaining covid restrictions. but in any case, it will create fresh political instability here in northern ireland, under the rules of the power—sharing system there are five parties in government, and when the first minister resigns, that automatically means

that the deputy first minister will automatically lose herjob too. other ministers will technically remain in post running their departments. however, without a first and deputy first minister essentially that stormont executive won't be able to function properly, and there will be vast uncertainty about a whole range of issues. for example, there is an apology scheduled for child abuse survivors on the 11th of march, a state apology. could that go ahead? most people would say probably not. what happens to the covid restrictions? what happens to remaining legislation which is going through the stormont assembly ahead of whenever it is dissolved at the end of march for a scheduled assembly election? massive questions, and other parties at stormont are strongly critical of the dup for what potentially is going to happen later on today, but the dup say that they have been warning for many weeks now that it would pull ministers out of government if there wasn't

sufficient movement in their view towards scrapping the irish sea border checks. and what is the latest on the checks? yesterday another dup minister edwin poots ordered his officials to stop carrying out those checks, but actually they are still going on today. now there is some conflict in respect to the legality of stopping the checks. mr poots says he has received legal advice which backs up his decision, but some of the other parties in the devolved government, the likes of sinn fein, the sdlp, the cross community alliance party, they say no, the northern ireland protocol is in the brexit agreement which is an internationally recognised treaty, therefore stopping the checks is a breach of international law. and that is being echoed by the irish foreign minister simon coveney.

mr poots has said in the last hour or so the reason why the checks are continuing is something to do with accounting issues, not to do with the legal position, but the european commission had waded into this and said the dup's moves are unhelpful. but depending on how far the dup go this afternoon, you can expect there to be much more reaction, notjust here in belfast but also in london, dublin and brussels. new zealand has announced a five—stage process to reopen its international borders, which have largely been closed for almost two years because of the pandemic. from the end of february, fully—vaccinated new zealand citizens and residents from australia will be granted entry without spending two weeks at an official quarantine centre. they will have to self—isolate instead. the prime ministerjacinder ardern said border restrictions are planned to end in october. overall opening back—up in this manage way let people reunite and fill our workforce shortages and ensure our health service can manage an increasing cases. our strategy

with omicron is to slow the spread and our borders are a part that strategy. the family of a woman who was stabbed to death by her former husband say more should have been done to prevent her death. yasmin shakeefi was killed in west london last week by leon mccaskre. he died at the scene after being hit by a car. before the attack, a warrant had already been issued for his arrest, for breaching a stalking protection order. lauren moss reports. she wasjust wonderful, nice, caring person. she was beloved by her children, who she adored. family, who adored her and she loved. an amazing woman that no—one can compare to. the words of yasmin chkaifi's family a week after she was stabbed to death. yasmin, also known as wafah, was attacked by her ex—husband leon mccaskre last monday morning. her family say she suffered years of domestic abuse. two years ago, the mum of two teenage boys remarried her childhood friend joseph. he says he is heartbroken.

when she left, i was certain she would be coming home from work. when she left, she was certain she was coming home. and, you know, she didn't even... she didn't even make one minute. i am devastated. i just... i am at a loss. joseph and yasmin's cousins have questions they want answering. a warrant had been issued for leon mccaskre's arrest three weeks earlier for allegedly breaching a stalking protection order. the met has referred itself to the police watchdog. why his criminal record wasn't enough for him to be searched for, as they did have a warrant — obviously, they didn't see him as much as a threat that they needed. should they have done, do you think? way more. when it comes to the police failings, it is definitely something

we are going to fight for, because that is what she would have wanted and she was a fighter for everything. like, any injustice, she was always someone to speak out. eyewitnesses describe seeing leon mccaskre repeatedly stabbing yasmin chkaifi in the street last monday morning. people tried to intervene and that is when mr mccaskre was hit by a car and he, too, died at the scene. mr mccaskre died from multiple injuries. after questioning the driver initially on suspicion of murder, he was released without charge. now the 26—year—old is being treated as a vital witness. yasmin's family have paid tribute to him and everyone who tried to save her. he is a hero. and he tried. he tried to help her. the driver, known only as abraham, said he is grateful the force has taken what he called a sensible course of action. in a statement released by his solicitor, he said...

joseph said they should be more safeguarding for victims of domestic abuse and he wants to set up a charity in yasmin's name. i just think domestic abuse is a very bad problem. and if there's no education about it from very young, if things aren't sorted, you know, if men can't keep their hands to themselves, i don't know what we will do. the metropolitan police says it cannot comment further until the iopc has concluded its investigation. an inquest into the deaths opened earlier this week, while a family continues to grieve. lauren moss, bbc news.

it's the eve of the official opening of the winter olympics in beijing. but as well as the sport, concerns around the impact of covid—i9 are likely never to be far from the organisers' minds. in the last day alone, there have been more than 50 cases amongst those involved in the games. china's president, xijinping, has promised a "streamlined, splendid and safe" event, despite increasing numbers of infections. the president of the international olympic committee, thomas bach, says the beijing olympics 'will change winter sports' around the world forever. today we can say china is a winter sport country. i can only reiterate my heartfelt congratulations to our chinese partners and friends on this extraordinary achievement. our china correspondent, stephen mcdonell, told us about the raising number

of coronavirus infections. the highest number of cases today in terms of people linked to the olympics. now, 55 cases — half of those being picked up at the airport from testing on arrival, but the other half inside the giant olympic bubbles. now, the concern is that that means covid is spreading within those olympic venues. there is a daily testing in all these venues behind me, and so officials are hoping that in this way they can pick up any cases and hope that it doesn't spread throughout all of the olympic zones. but of course people are worried. teams are very concerned that if somebody who is about to compete tests positive, they are not able to compete. imagine you are thinking you have a chance at a medal and the next thing you can't even

participate in your event at all. so a lot of worry. the numbers are not massive at the moment but they are getting bigger every day. and as i say, today is the largest number. vets at chester zoo have started the first trial of an experimental vaccine to protect elephants from a deadly viral disease. the illness is responsible for more than half of all asian elephant deaths in european zoos. the aim of the trial is to develop a vaccine in captivity that can also be used in the wild. victoria gill reports. indali the elephant calf, fighting for her life back in 2019. vets at chester zoo diagnosed the young elephant with a dangerous viral infection. it's called elephant endotheliotropic herpesvirus. it's often lethal and vets and scientists have been battling it for decades. it's an elephant herpesvirus. they have lesions in the mouth, they will get a fever, lethargy. but once we see the symptoms, normally it's too late. we've generally lost calves within 2a hours.

wow, that quickly? yes, that quickly. up to 85% of elephants that develop the disease don't survive and most cruelly it often affects the very young calves. now though, a glimmer of scientific hope. elephant two setting up to move out to training pen one. the elephants here are involved in a first—ever trial of an experimental potentially life—saving vaccine. it's research that's only possible because these elephants participate. he's five tonnes, he will cooperate if he feels like it. it's a lot of positive reinforcement from the keepers but it's also mutual respect. the new vaccine uses the same basic design as one that's already proven to be safe in elephants. its aim is to prime _ the animal's immune systems. we are trying to prevent deathj and severe disease so the idea underlying our vaccine _

is that the elephant's immune system already knows about this virus| and can then make sure that it overcomes the infection by itself. with the trial about to begin, researchers hope it will lead them to an effective vaccine within five years. meanwhile, with health checks and blood donations, the elephants here have already enabled vets to diagnose the virus much earlier and that has saved lives, including little indali's. she turned five just before christmas and she is our wonder baby. conservationists ultimately plan to roll out the vaccine around the world, including in wild asian elephant herds. the disease is one of many threats to their survival. all the work here in chester has meant that little indali was the zoo's first calf in ten years to reach her fifth birthday. and that is a reason to celebrate. victoria gill, bbc

news, chester zoo. in a moment, the bbc news at one with ben brown, but first it's time for a look at the weather. good afternoon. after what has been a mild start to february, the weather is set to change. there is something cold on the way. that cold air are currently waiting in the winds up to the north—west. and that cold air is going to be brought southwards across the uk by this cold front, which will bring some outbreaks of rain, some brisk winds, and potentially a little bit of snow for some of us as well. ahead of that, staying mostly dry through the rest of the day across england and wales. lots of cloud, some clear spells, but our weather front bringing rain into scotland, northern ireland. some snow over the high ground in scotland, potentially to lower levels — particularly on the back edge of that weather front. and that will be a theme through tonight. our frontal system will work its way southwards, and on the back edge of it —

so across the high ground of the pennines, the peak district, the staffordshire moorlands, the hills of wales, the west midlands, perhaps even into the moors of the south—west, we could well see a little bit of snow mixing in on the back edge of that weather front as some colder air starts to dig in. so those are the temperatures by the end of the night. frequent wintry showers across northern and north—western parts of the uk, and ice likely to be an issue for parts of scotland and northern ireland tomorrow morning. the remnants of that weather front clearing the south—east corner, and then tomorrow is a sunshine and showers stay, but some of the showers will be wintry over high ground in the north, potentially to quite low levels in northern parts of scotland. and it is going to be a windy day. potentially to quite low levels in northern parts of scotland. and it is going to be a windy day. widely gusts of 30, 40, 50 mph, perhaps a little stronger than that in the most exposed spots in the north. so, with there is a strong winds, with that cold air in place, a very different feel. those are the afternoon

temperatures. 3—8, maybe 9 degrees in the far south—west. now, as we head into the weekend, we see this frontal system hurtling in from the atlantic, and this really will be the weekend weather maker. it will bring some wet, some windy weather, and it will also continue to divide our cold air in the north from some milder air down towards the south. so here comes our weather front on saturday, a band of rain — still some uncertainty about the exact northwards or southwards positioning of this front. to the north of it, cold with some wintry showers. to the south, things turning a bit milder again. 10 or 11 degrees. now, it looks like that front will push a little further southwards into sunday with some outbreaks of rain. windy weather once again. to the south of the weather front, we have the mild air in place. to the north of it, cold with some wintry showers. temperatures for 12 degrees.

the soaring cost of energy — typical household bills are going up by almost £700 a year. it's because the regulator, ofgem, has increased the cap on prices by 54%. the chancellor unveils measures to soften the blow, including a £200 discount on bills. what we can do is take the sting out of a significant price shock for millions of families by making sure the increase in prices is smaller initially and spread over a longer period. this energy crisis has not happened overnight. it's a decade of dither and delay from the party opposite that has brought us to this point. the bank of england raise interest rates again to 0.5%.

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