' most of us and looking not bad for most of us and there the nine some showers in parts of scotland and northern ireland but dry elsewhere and mild in the morning, 13—16. clouds and showers for northern ireland and western scotland and then during the course of the afternoon we will see showers developing elsewhere across england and wales but not too many of them. highest temperatures tomorrow around eastern parts of england, hull, 25 degrees, marriage the same. thursday, anotherfine degrees, marriage the same. thursday, another fine day —— knowledge the same. most of us will mr showers and those temperatures typically in the low, mid 20s, so on the warm side, it is looking very warm and things will be warming up as we head towards the end of the week. a plume of warm air coming out of spain and portugal and france and that means those temperatures. claiming and it looks

as though in some southern areas, and weather warning by the weekend, temperatures could be approaching 30. but not for everybody. for many it would be in the low, mid 20s. this wonderful picture which i showed you earlier on, this cloud scope taken earlier today injersey. thank you very much. that is is the mortage misery time bomb about to explode?

new inflation figures and an announcement on interest rates due in the next 48 hours. todayjeremy hunt said giving financial support to mortgage holders could drive inflation higher. we'll talk to economists from the left and right, and a spokesman for the uk banking industry. also tonight, it's a year since the us supreme court made its historic decision to reverse roe v wade, thus allowing american states to block women from accessing an abortion. anna collinson travels from florida to alabama to speak to medics and women. shejust told me, "it's not going to make it." she got kind of choked up, actually, saying, "i wish there was more i could do for you." there's still no sign of the missing submersible. the crew have 36 hours of oxygen left. we'll talk live to a journalist

about his own traumatic experience of visiting the titanic wreck. and britain's defence attache in moscow until last year tells us in an exclusive interview that when vladimir putin is no longer president of russia, whoever replaces him could take an even harder line. i'm not convinced that the demise or retirement or elite transfer from mr putin to another leader necessarily brings peace and democracy and freedom and an end to the war. good evening. this week is being seen by many as a key milestone for the uk economy amidst a growing sense of financial and political panic over the prospect of a ticking mortgage time bomb. tomorrow the latest data will flesh out what many can already feel in their pockets about the pace at which inflation is slowing. on thursday the bank of england will respond by announcing its new interest rate decision almost everyone expects a further rise,

with some mortgages already at 6%. it's estimated that over a million households will be renewing their deals this year, and according to the resolution foundation, the average cost of servicing those debts will go up by nearly £3,000 next year. some are making comparisons between today's mortgage difficulties and those of the late �*80s and early �*90s, although interest rates went up to 14% then and repossessions became frequent. how difficult is all this for the government? who do people blame when they can't afford to get on the housing ladder or afford their monthly repayments? we'll hear from someone crunching the numbers on her personal finances in a moment, first ben's here. why is it happening? ina in a nutshell, it is because inflation is proving sticky in the uk. it is not coming down as rapidly as they want it to. the bank of

england is therefore expected, as you mentioned, to raise rates further, possibly up to 6%. the mortgage rates offered by banks and building societies are already there. ., . , , there. how much pain, then, is this auoin to there. how much pain, then, is this going to inflict _ there. how much pain, then, is this going to inflict on _ there. how much pain, then, is this going to inflict on borrowers? - there. how much pain, then, is thisi going to inflict on borrowers? some families who _ going to inflict on borrowers? some families who took _ going to inflict on borrowers? some families who took out _ going to inflict on borrowers? some families who took out a _ going to inflict on borrowers? fin? families who took out a mortgage to your school, at around 2%, if they have to remortgage now at 6%, that is a really painful squeeze on their finances. you mentioned that estimate from the resolution foundation, an extra £3000 a year for people remortgaging next year, that works out at around £250 extra every month. but it is important to recognise that is an average figure. for households with bigger mortgages relative to their incomes, a lot of younger borrowers are in this position, they are going to be disproportionately affected, as we can see from this projection, which shows richer households on the right in terms of income and poorer ones

on the left. as you can see, the average mortgage repayment relative to the incomes is higherfor less well—off families than richer ones. almost double as a proportion. but let's talk about the total economic impact of all of this. in aggregate right across the economy it is estimated there will be an extra £16 billion of mortgage repayments now than that need to be repaid. less than that need to be repaid. less than half of that has been felt so far because of the lag in people coming off their fixed—rate mortgages. what that all means, it adds up to a serious hit to the economy over the coming months and years, right up to the general election and beyond. it is that reality which is causing some analysts to talk about the possibility of recession. how many eo - le possibility of recession. how many --eole are possibility of recession. how many people are going _ possibility of recession. how many people are going to _ possibility of recession. how many people are going to be _ possibility of recession. how many people are going to be affected? l people are going to be affected? around 7.5 million households in the uk have mortgages. since the bank of england started raising interest

rates back in december 2021, around 4 million households have remortgage. but there is a long way to go. another 3 million will have to go. another 3 million will have to remortgage at those higher rates, don't forget. it works out at around 350,000 every three months over this year. a lot of people, as you can see, facing a big jump in their monthly mortgage repayments. but it should be said that relative to the last really big housing crisis we had in the early 90s, the market is quite different now. around 40% of people had a mortgage now, now it is down to 30%. the pain will be more concentrated. another difference relative to the early 90s as the labour market is strong at the moment, it was weak then. some analysts think and hope that will mean that fewer forced sales will be on the agenda, maybe not as extreme drops in house prices and less negative equity. but let's be clear, even given all that, what we have been talking about if interest rates do go that high, it is really going to hurt the economy and a lot of

families. ., ~ , ., , to hurt the economy and a lot of families. ., ~' , ., , . �* first time buyers are seeing mortage deals disapper from the market and the interest rate rises are hitting renters too because their landlords' mortgages are due to go up when they come off fixed deals. and then of course there's a lack of supply the tories dropped their target of building 300,000 homes a year having never reached it. the constituency of mid bedfordshire, still represented by nadine dorries, a constituency where there are an above average number of mortgage holders... this woman works five jobs as they contemplate the coming mortgage crunch. sit. good boy! stay. we love the house. we've only moved from down the road, about ten houses, but we love this one because it has a lovely, big back garden. so, tell me about your mortgage situation at the moment. we are coming to the end of a five

yearfixed rate mortgage, so we took that out a few months after we moved in and the rate at the time was 1.89, i think. that's coming to an end in october. we need to remortgage now and we fixed the rate a couple of weeks ago at 11.89, i think, so it's gone up an awful lot. i mean, can you do the maths for us? what you were paying and what you are likely to pay, once you sign up to a new fixed term? yes, so we were paying £1072 a month, for the last five years. and it will go up to £1279, so it's going up £207 a month. money was very, very, very tight during lockdown. we took advantage during the mortgage holiday. that didn't last very long. my mum helped us out a little bit and then we've taken on anotherjob each and a jointjob that we do as well, so we've got five jobs now between us.

fivejobs? yeah. five part—time jobs, but five jobs, nonetheless. how difficult is it for you, if you don't mind me asking? we live hand to mouth, so we don't have any money left at the end of the month. in fact, making ends meet is a struggle. we didn't really have any extravagances but we are cutting down everything, so no takeaways. i've got my bike out, i'm cycling to places. we were fortunate enough to have some money gifted to us by my mum, so we managed to get some house renovations done. literally they were finished last september, so just before liz truss and the budget, the infamous budget but all —— liz truss and the budget, the infamous budget put all the interest rates up. had we known that was happening we probably wouldn't have spent the money on the house at that time, so we would have had money to make

ends meet a little bit more. there isn't really much that we can do to cut down but what we can do, we are doing, yeah. how bad does it get for you? you know, when you're having a really dark moment, you realise that you haven't got the money that you'd like to have, how does that make you feel? it's a really sad situation. you know, i'm not 20 any more. i struggled when i was young. my first mortgage was in the �*90s and i had to sell my house because the interest rates went up to 15% then. so i've kind of been through it once before. and that was a really dark time and i don't want to go there again. we don't want to have to sell our house just to be able to survive. let's speak now to iain mansfield, director of research and head of education and science from the right leaning think tank the policy exchange, miatta fanbullah, ceo of the new economics foundation, a left leaning think tank, and a labour candidate at the next election, and charles roe director of mortgages at uk

finance, which is the umbrella body for the banking and finance industry welcome to all of you. the chancellor has rolled out help for homeowners who are struggling with mortgages. is that the right thing to do? i mortgages. is that the right thing to do? ~' , ., mortgages. is that the right thing to do? ~' ,, ., to do? i think when you factor in that this crisis _ to do? i think when you factor in that this crisis is, _ to do? i think when you factor in that this crisis is, you _ to do? i think when you factor in that this crisis is, you know, - to do? i think when you factor in that this crisis is, you know, a l that this crisis is, you know, a reflection of government policy failure, it started with that liz truss mini budget, that put in that incompetency premium, then it has been made worse by two aggressive policy by the bank of england. the idea that giving the root cause comes back to government policy that they can wash their hands and say this is nothing to do with us i think is unconscionable for most people. think is unconscionable for most eo le. ,, ., think is unconscionable for most --eole. ,, ., , , people. should the government step i think the commit _ people. should the government step i think the commit will _ people. should the government step i think the commit will have - people. should the government step i think the commit will have to - people. should the government step i think the commit will have to step l i think the commit will have to step in. to do what? you we need the bank of england and the comment to work together. young or the bank of england, in my view, needs to signal to the market that it will pause interest rate rises— to the market that it will pause interest rate rises partly because the impacts _ interest rate rises partly because the impacts of— interest rate rises partly because the impacts of interest-rate - interest rate rises partly because| the impacts of interest-rate rises the impacts of interest—rate rises to date have not filtered through to

the economy. let it play out, send a signal, then the financial markets will not be chasing interest rates. you want them to work together, so the bank of england will not be independent? you the bank of england will not be independent?— the bank of england will not be independent? the bank of england will not be indeendent? ., ., ~ ., independent? you can have bank of encland independent? you can have bank of england independent _ independent? you can have bank of england independent and _ independent? you can have bank of england independent and working i independent? you can have bank of. england independent and working with the government. but of countries have them working hand in glove. ihla have them working hand in glove. no gammond hand—outs to mortgage owners? young i think the comment does need to try to step in. i think the commentary get the banking industry around the table. we have seen banks — industry around the table. we have seen banks make _ industry around the table. we have seen banks make big _ industry around the table. we have seen banks make big profits - industry around the table. we have seen banks make big profits will i seen banks make big profits will stop a lot of people are facing the mortgage crisis, that will feel untenable. get them around the table, negotiate a deal in order to support people who are facing a massive mortgage crisis. it has to be both. the bank of england has to act, the government has to act. the bank of england should pause interest rate rises and the garment should step in, bearing in mind jeremy hunt said that might fuel inflation. i jeremy hunt said that might fuel inflation. ., ., ~' jeremy hunt said that might fuel inflation. ., ., ~ , , inflation. i do not think she is riuht. inflation. i do not think she is right- the _ inflation. i do not think she is right. the decision _ inflation. i do not think she is right. the decision not - inflation. i do not think she is right. the decision not to - inflation. i do not think she is - right. the decision not to intervene is difficult, — right. the decision not to intervene is difficult, and i feel for the

families, _ is difficult, and i feel for the families, but it is the right decision _ families, but it is the right decision. we have to think about why the bank_ decision. we have to think about why the bank of— decision. we have to think about why the bank of england is raising interest— the bank of england is raising interest rates. we have high stubborn _ interest rates. we have high stubborn inflation, that is hitting everyone — stubborn inflation, that is hitting everyone in the pocket when you go for the _ everyone in the pocket when you go for the weekly supermarket shop, all kinds of— for the weekly supermarket shop, all kinds of areas. the main way in which _ kinds of areas. the main way in which we — kinds of areas. the main way in which we get inflation down is through— which we get inflation down is through those interest—rate rises and through those higher mortgage payments. the other thing i would say is _ payments. the other thing i would say is that— payments. the other thing i would say is that we are talking about mortgages site, but we have to think about— mortgages site, but we have to think about renters. they have been facing these _ about renters. they have been facing these sorts _ about renters. they have been facing these sorts of problems for quite a while _ these sorts of problems for quite a while now — these sorts of problems for quite a while now. it is around 28% of the average _ while now. it is around 28% of the average income that people who are renting _ average income that people who are renting or— average income that people who are renting or paying on rent. renters are poorer— renting or paying on rent. renters are poorer than mortgage holders. what _ are poorer than mortgage holders. what would it be if the garment stepped — what would it be if the garment stepped in to bail out mortgage holders. — stepped in to bail out mortgage holders, richer mortgage holders while _ holders, richer mortgage holders while moving to event are struggling. i think would be a very poor use _ struggling. i think would be a very poor use of— struggling. i think would be a very poor use of priorities for public funding — poor use of priorities for public funding. let poor use of priorities for public fundinu. , . ., , funding. let me bring in channels. you heard us— funding. let me bring in channels. you heard us talking _ funding. let me bring in channels. you heard us talking about - funding. let me bring in channels. you heard us talking about the - you heard us talking about the bank's profits. what should your members do?—

bank's profits. what should your members do? , , ., ., ., , members do? remembers are already ste -|n~ members do? remembers are already stepping on — members do? remembers are already stepping on we _ members do? remembers are already stepping on we what _ members do? remembers are already stepping up. we what happened - members do? remembers are already| stepping up. we what happened during the covid _ stepping up. we what happened during the covid crisis, _ stepping up. we what happened during the covid crisis, in _ stepping up. we what happened during the covid crisis, in terms _ stepping up. we what happened during the covid crisis, in terms of— stepping up. we what happened during the covid crisis, in terms of the - the covid crisis, in terms of the support— the covid crisis, in terms of the support that _ the covid crisis, in terms of the support that lenders _ the covid crisis, in terms of the support that lenders offered. . the covid crisis, in terms of the i support that lenders offered. they are continuing _ support that lenders offered. they are continuing with _ support that lenders offered. they are continuing with that _ support that lenders offered. they are continuing with that support. are continuing with that support now _ are continuing with that support now if— are continuing with that support now. if anybody— are continuing with that support now. if anybody is _ are continuing with that support now. if anybody is facing - are continuing with that support now. if anybody is facing any. now. if anybody is facing any difficulties _ now. if anybody is facing any difficulties in— now. if anybody is facing any difficulties in terms - now. if anybody is facing any difficulties in terms of- now. if anybody is facing any. difficulties in terms of making their— difficulties in terms of making their mortgage _ difficulties in terms of making their mortgage repayments, i difficulties in terms of making. their mortgage repayments, they should _ their mortgage repayments, they should reach— their mortgage repayments, they should reach out _ their mortgage repayments, they should reach out to _ their mortgage repayments, they should reach out to their- their mortgage repayments, they should reach out to their lender. should reach out to their lender early~ _ should reach out to their lender early the — should reach out to their lender early. the lenders _ should reach out to their lender early. the lenders have - should reach out to their lender early. the lenders have trained| early. the lenders have trained teams — early. the lenders have trained teams of — early. the lenders have trained teams of individuals _ early. the lenders have trained teams of individuals who - early. the lenders have trained teams of individuals who are i teams of individuals who are experienced _ teams of individuals who are experienced in _ teams of individuals who are experienced in dealing - teams of individuals who are experienced in dealing withl experienced in dealing with individuals— experienced in dealing with individuals who _ experienced in dealing with individuals who are - experienced in dealing with individuals who are facing l individuals who are facing difficulty _ individuals who are facing difficulty repaying - individuals who are facing difficulty repaying their. individuals who are facing - difficulty repaying their mortgage, and they— difficulty repaying their mortgage, and they will— difficulty repaying their mortgage, and they will not _ difficulty repaying their mortgage, and they will not make _ difficulty repaying their mortgage, and they will not make a - difficulty repaying their mortgage, | and they will not make a judgment difficulty repaying their mortgage, . and they will not make a judgment on those _ and they will not make a judgment on those people — and they will not make a judgment on those people that _ and they will not make a judgment on those people that are _ and they will not make a judgment on those people that are calling - and they will not make a judgment on those people that are calling up - and they will not make a judgment on those people that are calling up for. those people that are calling up for help _ those people that are calling up for help. they— those people that are calling up for help. they will— those people that are calling up for help. they will look— those people that are calling up for help. they will look at _ those people that are calling up for help. they will look at everybody . those people that are calling up forj help. they will look at everybody in their individual— help. they will look at everybody in their individual circumstances, - their individual circumstances, consider— their individual circumstances, consider their _ their individual circumstances, consider their income - their individual circumstances, consider their income and - their individual circumstances, - consider their income and outgoings, they are _ consider their income and outgoings, they are looking _ consider their income and outgoings, they are looking to _ consider their income and outgoings, they are looking to develop - consider their income and outgoings, they are looking to develop tailored i they are looking to develop tailored support— they are looking to develop tailored support packages— they are looking to develop tailored support packages based _ they are looking to develop tailored support packages based on- they are looking to develop tailored support packages based on an - support packages based on an individual's _ support packages based on an individual's on _ support packages based on an individual's on circumstances. | support packages based on anl individual's on circumstances. i think— individual's on circumstances. i think that — individual's on circumstances. i think that is _ individual's on circumstances. i think that is much _ individual's on circumstances. i think that is much better- individual's on circumstances. i think that is much better to - individual's on circumstances. i. think that is much better to help the 30%— think that is much better to help the 30% of— think that is much better to help the 30% of mortgage _ think that is much better to help the 30% of mortgage holders i think that is much better to help the 30% of mortgage holders in| think that is much better to help. the 30% of mortgage holders in the uk that— the 30% of mortgage holders in the uk that have — the 30% of mortgage holders in the uk that have mortgages. _ the 30% of mortgage holders in the uk that have mortgages. iiritt�*hait- the 3096 of mortgage holders in the uk that have mortgages. what does that mean in — uk that have mortgages. what does that mean in practical— uk that have mortgages. what does that mean in practical terms - uk that have mortgages. what does that mean in practical terms when i that mean in practical terms when you say they take individual circumstances? how does it translate, how does it help

somebody?— translate, how does it help somebod ? . , . , ., . , translate, how does it help somebod ? . , . , ., ., , ., somebody? any customer, any borrower who is concerned _ somebody? any customer, any borrower who is concerned about _ somebody? any customer, any borrower who is concerned about making - who is concerned about making their mortgage _ who is concerned about making their mortgage repayments, _ who is concerned about making their mortgage repayments, the - who is concerned about making their mortgage repayments, the first- who is concerned about making theirl mortgage repayments, the first thing we would _ mortgage repayments, the first thing we would encourage _ mortgage repayments, the first thing we would encourage them _ mortgage repayments, the first thing we would encourage them to - mortgage repayments, the first thing we would encourage them to do - mortgage repayments, the first thing we would encourage them to do is. we would encourage them to do is reach _ we would encourage them to do is reach out — we would encourage them to do is reach out to— we would encourage them to do is reach out to their _ we would encourage them to do is reach out to their lender, - we would encourage them to do is reach out to their lender, contactl reach out to their lender, contact their— reach out to their lender, contact their lender~ _ reach out to their lender, contact their lender~ i— reach out to their lender, contact their lender-— reach out to their lender, contact their lender. . ., ., ., their lender. i am asking about what their lender. i am asking about what the practical — their lender. i am asking about what the practical outcome _ their lender. i am asking about what the practical outcome is _ their lender. i am asking about what the practical outcome is once - their lender. i am asking about what the practical outcome is once they i the practical outcome is once they reached out. the practical outcome is once they reached out-— reached out. there's a range of solutions can _ reached out. there's a range of solutions can offer. _ reached out. there's a range of solutions can offer. interest - solutions can offer. interest holidays _ solutions can offer. interest holidays for _ solutions can offer. interest holidays for a _ solutions can offer. interest holidays for a period - solutions can offer. interest holidays for a period of- solutions can offer. interest. holidays for a period of time. solutions can offer. interest - holidays for a period of time. they can go— holidays for a period of time. they can go to — holidays for a period of time. they can go to a — holidays for a period of time. they can go to a part— holidays for a period of time. they can go to a part and _ holidays for a period of time. they can go to a part and part - holidays for a period of time. they. can go to a part and part repayment, which _ can go to a part and part repayment, which means— can go to a part and part repayment, which means they _ can go to a part and part repayment, which means they only— can go to a part and part repayment, which means they only have - can go to a part and part repayment, which means they only have to - can go to a part and part repayment, which means they only have to pay. which means they only have to pay part of— which means they only have to pay part of the — which means they only have to pay part of the interest _ which means they only have to pay part of the interest and _ which means they only have to pay part of the interest and part - which means they only have to pay part of the interest and part of- which means they only have to pay part of the interest and part of the| part of the interest and part of the principal— part of the interest and part of the principal mortgage, _ part of the interest and part of the principal mortgage, or— part of the interest and part of the principal mortgage, or it _ part of the interest and part of the principal mortgage, or it could - part of the interest and part of the principal mortgage, or it could be i principal mortgage, or it could be that they— principal mortgage, or it could be that they put _ principal mortgage, or it could be that they put them _ principal mortgage, or it could be that they put them on _ principal mortgage, or it could be that they put them on a - principal mortgage, or it could be j that they put them on a complete freeze. _ that they put them on a complete freeze. a — that they put them on a complete freeze, a mortgage _ that they put them on a complete freeze, a mortgage payment - that they put them on a complete . freeze, a mortgage payment default for a period — freeze, a mortgage payment default for a period of— freeze, a mortgage payment default for a period of time _ freeze, a mortgage payment default for a period of time to _ freeze, a mortgage payment default for a period of time to help- freeze, a mortgage payment default for a period of time to help them - for a period of time to help them -et for a period of time to help them get back— for a period of time to help them get back onto _ for a period of time to help them get back onto the _ for a period of time to help them get back onto the straight - for a period of time to help them get back onto the straight and i get back onto the straight and narrow — get back onto the straight and narrow. ., get back onto the straight and narrow. . , , ., narrow. the rate savers get is not as hiuh narrow. the rate savers get is not as high as — narrow. the rate savers get is not as high as the _ narrow. the rate savers get is not as high as the rate _ narrow. the rate savers get is not as high as the rate that _ narrow. the rate savers get is notj as high as the rate that borrowers are paying. some mps have suggested the banks are profiteering and ripping off customers. how do you plead? i ripping off customers. how do you lead? ~ ., ., ripping off customers. how do you . lead? ~' ., ., ., plead? i think what we have to understand _ plead? i think what we have to understand is _ plead? i think what we have to understand is in _ plead? i think what we have to understand is in terms - plead? i think what we have to understand is in terms of- plead? i think what we have to understand is in terms of the l plead? i think what we have to - understand is in terms of the rates that are _ understand is in terms of the rates that are charged _ understand is in terms of the rates that are charged on _ understand is in terms of the rates that are charged on fixed—rate - that are charged on fixed—rate mortgages— that are charged on fixed—rate mortgages are _ that are charged on fixed—rate mortgages are calculated - that are charged on fixed—rate mortgages are calculated in i that are charged on fixed—rate mortgages are calculated in a| that are charged on fixed—rate i mortgages are calculated in a very different—

mortgages are calculated in a very different way — mortgages are calculated in a very different way from _ mortgages are calculated in a very different way from the _ mortgages are calculated in a very different way from the rates - mortgages are calculated in a very different way from the rates that i different way from the rates that are paid — different way from the rates that are paid on — different way from the rates that are paid on savings _ different way from the rates that are paid on savings accounts. i different way from the rates that are paid on savings accounts. as| are paid on savings accounts. as your— are paid on savings accounts. as your correspondent _ are paid on savings accounts. as your correspondent alluded i are paid on savings accounts. as your correspondent alluded to i are paid on savings accounts. asj your correspondent alluded to at are paid on savings accounts. as- your correspondent alluded to at the beginning _ your correspondent alluded to at the beginning of— your correspondent alluded to at the beginning of this _ your correspondent alluded to at the beginning of this piece, _ your correspondent alluded to at the beginning of this piece, what - your correspondent alluded to at the beginning of this piece, what has i beginning of this piece, what has happened — beginning of this piece, what has happened is— beginning of this piece, what has happened is in— beginning of this piece, what has happened is in light _ beginning of this piece, what has happened is in light of— beginning of this piece, what has happened is in light of the - beginning of this piece, what has i happened is in light of the expected higher— happened is in light of the expected higher rates — happened is in light of the expected higher rates the _ happened is in light of the expected higher rates the bank— happened is in light of the expected higher rates the bank of— happened is in light of the expected higher rates the bank of england i higher rates the bank of england will have — higher rates the bank of england will have to _ higher rates the bank of england will have to put _ higher rates the bank of england will have to put the _ higher rates the bank of england will have to put the base - higher rates the bank of england will have to put the base rate i higher rates the bank of england j will have to put the base rate to, the financial— will have to put the base rate to, the financial markets, _ will have to put the base rate to, the financial markets, which i the financial markets, which fixed-rate _ the financial markets, which fixed—rate mortgages - the financial markets, which fixed—rate mortgages are i the financial markets, which i fixed—rate mortgages are based the financial markets, which - fixed—rate mortgages are based on, have gone _ fixed—rate mortgages are based on, have gone up— fixed—rate mortgages are based on, have gone up significantly— fixed—rate mortgages are based on, have gone up significantly over- fixed—rate mortgages are based on, have gone up significantly over the. have gone up significantly over the course _ have gone up significantly over the course of— have gone up significantly over the course of the — have gone up significantly over the course of the last _ have gone up significantly over the course of the last ten _ have gone up significantly over the course of the last ten days - have gone up significantly over the course of the last ten days or- have gone up significantly over the course of the last ten days or so. i course of the last ten days or so. what _ course of the last ten days or so. what we — course of the last ten days or so. what we have _ course of the last ten days or so. what we have seen _ course of the last ten days or so. what we have seen is— course of the last ten days or so. what we have seen is since - course of the last ten days or so. what we have seen is since the i course of the last ten days or so. . what we have seen is since the 11th of may, _ what we have seen is since the 11th of may, the — what we have seen is since the 11th of may. the cost _ what we have seen is since the 11th of may, the cost of _ what we have seen is since the 11th of may, the cost of rates _ what we have seen is since the 11th of may, the cost of rates have i what we have seen is since the 11thj of may, the cost of rates have gone up of may, the cost of rates have gone up by _ of may, the cost of rates have gone up by i~2%~ — of may, the cost of rates have gone up byi.2%~ it— of may, the cost of rates have gone up byi.2%. it is— of may, the cost of rates have gone up by 1.2%. it is costing _ of may, the cost of rates have gone up by 1.2%. it is costing the - up by 1.2%. it is costing the banks 12%— up by 1.2%. it is costing the banks i~2% more — up by 1.2%. it is costing the banks i~2% more than— up by 1.2%. it is costing the banks 1.2% more than it _ up by 1.2%. it is costing the banks 1.2% more than it was _ up by 1.2%. it is costing the banks 1.2% more than it was in - up by 1.2%. it is costing the banks 1.2% more than it was in may- up by 1.2%. it is costing the banks 1.2% more than it was in may two| up by 1.2%. it is costing the banks i 1.2% more than it was in may two fix mortgages— 1.2% more than it was in may two fix mortgages or — 1.2% more than it was in may two fix mortgages or to _ 1.2% more than it was in may two fix mortgages or to price _ 1.2% more than it was in may two fix mortgages or to price fixed—rate i mortgages or to price fixed—rate mortgages _ mortgages or to price fixed—rate mortgages but— mortgages or to price fixed-rate mortgages-— mortgages or to price fixed-rate mortauaes. �* �* , ., mortgages. but you're still earning billions in profit. _ they are a commercial organisation. i they are a commercial organisation. i understand — they are a commercial organisation. i understand that, _ they are a commercial organisation. i understand that, but _ they are a commercial organisation. i understand that, but it— they are a commercial organisation. i understand that, but it is— they are a commercial organisation. i understand that, but it is how- i understand that, but it is how much profit. should the banks be doing more? i much profit. should the banks be doing more?—

much profit. should the banks be doing more?_ what? i much profit. should the banks be doing more?_ what? doing more? i think so. what? some are doinu doing more? i think so. what? some are doing things _ doing more? i think so. what? some are doing things like _ doing more? i think so. what? some are doing things like mortgage i are doing things like mortgage holidays and finding ways to support people but it is inconsistent and that's where the government should support in so there is a deal that is done across the piece. the key point, to your point on interest rates, interest rates are there to dampen demand. inflation is caused by the economy overheating, it makes sense. it is in the right tool. it's a blunt tool to deal with the inflationary pressures created by the supply side. we are using a policy tool that frankly isn't going to work against the problem but is going to hammerfamilies. it makes no sense. in going to hammer families. it makes no sense. , ., ., . ~ going to hammer families. it makes no sense. , ., ., no sense. in terms of the lack of su -l , no sense. in terms of the lack of sopply. the _ no sense. in terms of the lack of supply, the tories _ no sense. in terms of the lack of supply, the tories dropped i no sense. in terms of the lack of supply, the tories dropped their| supply, the tories dropped their housing target, they didn't reach it. our they couple with that, with stamp duty holidays and help to buy? partially but it goes back further. it partially but it goes back further. it was _ partially but it goes back further. it was a — partially but it goes back further. it was a mistake to drop the target, we written — it was a mistake to drop the target, we written about how we need more

building _ we written about how we need more building but there has been a 30 year failure to build more houses to keep up— year failure to build more houses to keep up with demand. it's a long—standing failure to build things. — long—standing failure to build things, whether it is houses or nuclear— things, whether it is houses or nuclear power stations. some of the inflation _ nuclear power stations. some of the inflation we — nuclear power stations. some of the inflation we are seeing is about an overheated economy. we are still seeing _ overheated economy. we are still seeing the — overheated economy. we are still seeing the unwinding of what happened during the pandemic but ultimately, i agree we need a supply—side solution and we need britain _ supply—side solution and we need britain building again. that supply-side solution and we need britain building again.— britain building again. that is the leaver that the _ britain building again. that is the leaver that the government i britain building again. that is the j leaver that the government could pull. leaver that the government could ull. ~ ., , ., , pull. we need to start building more, pull. we need to start building more. we _ pull. we need to start building more, we need _ pull. we need to start building more, we need more - pull. we need to start building more, we need more private i pull. we need to start building - more, we need more private building, more _ more, we need more private building, more social— more, we need more private building, more social housing, we need more building _ more social housing, we need more buildinu. ., , , , building. charles, is this the new normal? are _ building. charles, is this the new normal? are the _ building. charles, is this the new normal? are the interest - building. charles, is this the new normal? are the interest rates i building. charles, is this the new. normal? are the interest rates going to ever come — normal? are the interest rates going to ever come down _ normal? are the interest rates going to ever come down to _ normal? are the interest rates going to ever come down to one, - normal? are the interest rates going to ever come down to one, 296? i i to ever come down to one, 2%? i think— to ever come down to one, 2%? i think they— to ever come down to one, 2%? i think they will— to ever come down to one, 2%? i think they will come _ to ever come down to one, 2%? i think they will come down. - to ever come down to one, 2%? i. think they will come down. whether it's back— think they will come down. whether it's back to— think they will come down. whether it's back to the _ think they will come down. whether it's back to the levels _ think they will come down. whether it's back to the levels we've - think they will come down. whether it's back to the levels we've seen i it's back to the levels we've seen historically— it's back to the levels we've seen historically in _ it's back to the levels we've seen historically in terms _ it's back to the levels we've seen historically in terms of _ it's back to the levels we've seen historically in terms of the - it's back to the levels we've seen historically in terms of the last i historically in terms of the last few years. _ historically in terms of the last few years, that _ historically in terms of the last few years, that will— historically in terms of the last few years, that will be - historically in terms of the last i few years, that will be determined by the _ few years, that will be determined by the bank— few years, that will be determined by the bank of— few years, that will be determined by the bank of england _ few years, that will be determined by the bank of england and - few years, that will be determined by the bank of england and their. by the bank of england and their inflation — by the bank of england and their inflation targets. _ by the bank of england and their inflation targets. but _ by the bank of england and their inflation targets. but we - by the bank of england and their inflation targets. but we saw, i by the bank of england and their. inflation targets. but we saw, after the mini _ inflation targets. but we saw, after the mini budget _ inflation targets. but we saw, after the mini budget from _ inflation targets. but we saw, after the mini budget from liz— inflation targets. but we saw, after the mini budget from liz truss's i the mini budget from liz truss's government. _ the mini budget from liz truss's government, when— the mini budget from liz truss's government, when there - the mini budget from liz truss's

government, when there is i the mini budget from liz truss's i government, when there is market turmoil— government, when there is market turmoil we — government, when there is market turmoil we saw— government, when there is market turmoil we saw that _ government, when there is market turmoil we saw that banks - government, when there is market turmoil we saw that banks brought down _ turmoil we saw that banks brought down rates — turmoil we saw that banks brought down rates as _ turmoil we saw that banks brought down rates as quickly— turmoil we saw that banks brought down rates as quickly as _ turmoil we saw that banks brought down rates as quickly as they- turmoil we saw that banks brought| down rates as quickly as they could and it's_ down rates as quickly as they could and it's important— down rates as quickly as they could and it's important to _ down rates as quickly as they could and it's important to note - down rates as quickly as they could and it's important to note that i down rates as quickly as they could and it's important to note that thisl and it's important to note that this time the _ and it's important to note that this time the banks, _ and it's important to note that this time the banks, as _ and it's important to note that this time the banks, as we _ and it's important to note that this time the banks, as we did - and it's important to note that this time the banks, as we did in- and it's important to note that this time the banks, as we did in the l and it's important to note that thisl time the banks, as we did in the liz truss— time the banks, as we did in the liz truss budget, — time the banks, as we did in the liz truss budget, they— time the banks, as we did in the liz truss budget, they have _ time the banks, as we did in the liz truss budget, they have plenty- time the banks, as we did in the liz truss budget, they have plenty of i truss budget, they have plenty of cash, _ truss budget, they have plenty of cash, they— truss budget, they have plenty of cash, they are _ truss budget, they have plenty of cash, they are full— truss budget, they have plenty of cash, they are full of _ truss budget, they have plenty of cash, they are full of liquidity, i cash, they are full of liquidity, they— cash, they are full of liquidity, they want— cash, they are full of liquidity, they want to _ cash, they are full of liquidity, they want to lend _ cash, they are full of liquidity, they want to lend but - cash, they are full of liquidity, they want to lend but the i cash, they are full of liquidity, i they want to lend but the markets are determining— they want to lend but the markets are determining the _ they want to lend but the markets are determining the price - they want to lend but the markets are determining the price they. they want to lend but the marketsj are determining the price they can lend up _ are determining the price they can lend up it — are determining the price they can lend up it is— are determining the price they can lend up. it is outside _ are determining the price they can lend up. it is outside of— are determining the price they can lend up. it is outside of the - lend up. it is outside of the banks's_ lend up. it is outside of the banks's control. _ lend up. it is outside of the banks's control.— lend up. it is outside of the banks's control. . ,, ., ., , ., it's a year since millions in the us were blocked from accessing an abortion. and the debate is as divisive as ever. the reversing of the roe v wade ruling last summer was a controversial moment both for those who believe termination ends an innocent life and for those who feel any restrictions breaches a woman's right to control her own body. in a joint investigation for bbc newsnight and our world, anna collinson has travelled across two neighbouring but very different us states to see how restrictions on abortion are impacting america. it's a humid morning in orlando.

that's your future! hellfire for you! and the battle lines are drawn. murderer! a year on since millions of americans were blocked from accessing a 50—year right on abortion... you are a murderer! ..the debate is as divisive as ever. on one side is a group who believe they are the last line of defence before an innocent life is taken. i come here to offer help and hope to women that come here. what if the help that that woman needs is to have an abortion? well, i am not going to help anyone have an abortion. 0n the other side are pro—choice volunteers known as swans, who formed last summer and offer to shield patients. we can help you, young lady. i am sure that some patients wish that no one was out here, but if we all look stupid and we all look absurd, then at least they do not look scary, you know what i mean? it is not long before the two sides collide. you told someone the other day,

who had a toddler, you said, "oh, kill that one and let the other live." no, no, no. i was using their own ridiculous way of reasoning. i said, "why don't you kill one of them and let this one live?" did you say, "oh, we really could have helped you"? we could have. but is that something they need to hear when they have just had a medical procedure? you mean when they killed their baby? yes. how is that helpful? 12 months on, how are restrictions on essential health impacting america? we start our story in alabama, which had been blocked from banning terminations until last summer, when the us supreme court reversed the roe v wade ruling and lawmakers in individual states were handed the power to decide. the procedure is now illegal here, unless there is a serious risk to the mother, with no exceptions for rape or incest. come on, boss. i'm alison, i live and work

in montgomery, alabama with my partner steph and our farm of two dogs, three cats and two chickens. alison found out she was pregnant in january. but on valentine's day, her worst fears came true. i went to the bathroom and when i wiped i saw blood. and so i called my 0bgyn. she showed us the ultra—scan photo and she just told me, "there is nothing we can do. this is a pregnancy that is not going to make it." and she got kind of choked up, actually, and she kept saying, "i wish there was more i could do for you." and in that moment, i did not know what that meant. i thought she just was, like, giving condolences. doctors in alabama who perform an abortion which isn't deemed to be life—saving risk up to 99 years in prison. while miscarriage treatment

is not part of the ban, pro—choice advocates say the way the law is written makes it challenging for health workers to provide care without endangering their licence. alison's doctor could have offered her abortion medication, which speeds up the miscarriage process. instead she was forced to wait for it to happen naturally. it has been... ..one of the worst weeks of my life. just kind of feeling like i am in purgatory. i have lost a fair amount of tissue and blood in the last week, so i am hoping that everything has passed naturally. i'm nervous. i want this to be over. desperate, alison drove several hours to get help from another clinic in tuscaloosa. once one of alabama's

only abortion providers, since roe was overturned, it is now a nonprofit reproductive health service. it promises to offer medical interventions for non—viable pregnancies. so if alison had come here first, she would have had that option. it is something i have seen happen more than a few occasions, where people who would otherwise should have been helped were not. and fortunately find care here and have that care that they need before something irreversible happens. whether that's death or a hysterectomy because of infection. abortion is health care, you don't have to like it, but that politicisation, the criminalisation of this aspect of health care makes it so health care providers are afraid. so, over the past year, patients in alabama who have wanted

or needed an abortion have had to travel hundreds of miles, normally by car and often to florida. now, this neighbouring state does have restrictions in place, but the 15—week ban is far more permissive compared to other parts of the south—east. but as i think we are going to see, florida's reproductive care system hangs in the balance. once upon a time, the home of disney was viewed as a swing state, but it has slipped out of the democrats' reach in recent years. florida's governor, ron desantis, is one of the leading candidates for the republican presidential nomination, and his right—wing policies have propelled him, such as his 15—week abortion ban. these are unborn babies that have heart beat, they can feel pain, they can suck their thumb. months later, he was re—elected. florida held the line. and it was a landslide win. what would you say to people

who think governor desantis is trying to out—trump trump, he wants to be the next president and he doesn't really care about the people in florida? i would say that is completely false. he is always very concerned about his constituents. his number one thing is supporting families and ensuring that children are protected and safe in this state. 24—year—old 0livia is against abortion and saw the overturning of roe as a positive moment for local democracy. i never really felt that the federal government should have a say in, like, reproductive rights. and so when you bring it back to the state level, you are bringing it back into the hands of the people. i think with abortion we kind of lose that humanity, we kind of try to erase it in a sense, whereas if you just allow those mothers to carry to term and give birth, you do kind of have this humanity of at least, you know, that child dying in the mother's arms. in april, desantis signed a six—week

abortion ban into law, with rape victims allowed up to 15 weeks, if they can provide proof. it is pending due to ongoing legal action, but it has sparked fury. democratic senator lauren book was arrested after taking part in a sit down protest and is now fighting for a state constitutional amendment to allow abortions during the first three months. it makes me angry, it makes me sick to my stomach that on my watch this happened. and i will work every day to undo what they have done. governor desantis has the support of floridians. do you not have to accept what he is calling for, what he wants? they may support this individual, but not necessarily the ideology or the policy behind it. in fact, we know that 75% of floridians do not support abortion bans in this way. don't support six week abortion bans? correct, don't support a six week abortion ban, don't want to go this far.

i think he is trying to speak to a very, very specific base of people, an evangelical, religious base outside of florida for his political ambitions and for a run for president. research suggest the majority of abortion patients in the us are considered poor or on a low income. time off work, childcare, and if they need to travel, fuel and accommodation — the costs stack up, with black and hispanic communities disproportionately affected. this clinic in naples treats unplanned pregnancies. funded by private donors and local churches, services are free, including ultrasounds. the patients come for their initial exam. but if a patient wants an abortion, they have to go elsewhere. i would like to see an outright ban of abortion in america. dr trandem believes elective abortions physically and mentally harm women.

but the broad medical consensus contradicts her. such is the american college of obstetricians and gynaecologists, which states abortions are a safe medical intervention with fewer risks than childbirth. so what do you think about the argument that, ultimately, you are entitled to believe what you want, but that should not negate a woman's right to have an abortion if she feels that is what she needs? i would say there's two patients for every woman who is pregnant, it is the woman and the baby. they can continue that pregnancy, which is protective for them emotionally and physically, and offer that child to another family who is in need. back in alabama, we shared dr trandem's views with dr torres. we have heard quite a lot about the traumatic impact of having an abortion, that a woman may go on to regret it.

i would question how much that person had been shamed and stigmatised about seeking abortion care. it is not so much the procedure itself but rather how our society treats people that is the problem. a year on since the reversal of roe, 16 states are navigating a new world where a previously held right is no more, while states without restrictions have seen a surge in abortion tourism. and delayed care means increased risk. but for millions, this new direction is the right one, a life saver, and they won't rest until there is a nationwide ban. that film was produced by jasmin dyer and filmed by liam weir. and you can watch a longer version this weekend as part of the our world series on the bbc news channel. the five people on board the mini submarine exploring the wreck of the titantic have by now 36 hours of oxygen left at most. the vessel, called titan,

vanished soon into its mission to travel to the ocean floor, two and a half miles below sea level, hundreds of miles off the coast of newfoundland. on board are a british—pakistani businessman and his teenage son, a british explorer, a former french navy diver, and the chief executive of 0ceangate the firm behind the dive. we're going to speak now to a journalist who's been down to the titanic in the year 2000 in a trip that did not go as it should. dr michael guillen was the science editor at the american news network abc. thank you very much for speaking to our audience. you were the first correspondent to report from the wreck of the titanic. and your vessel ultimately got stuck in the propeller of the titanic. how did you react at the time?— propeller of the titanic. how did you react at the time? well, because i did not

you react at the time? well, because i did not expect _ you react at the time? well, because i did not expect it, _ you react at the time? well, because i did not expect it, the _ you react at the time? well, because i did not expect it, the collision i i did not expect it, the collision that we had came completely unexpected. it was caused when we were en route from the bow of the ship, across the debris field, towards the stern of the ship. the stern landed upside down, also it showed the propeller towards the bow area. as we were approaching it, i was struck by how shiny it was. but during that time, i also sensed, why are we speeding up? the submersible started speeding up, i thought we should be slowing down. later we found out that we got caught in an underwater current, very strong currents down there. that is what slanders into the blades of the propeller. you have to understand, this propeller is gigantic. for those of you who are watching, our sub was very tiny compared to that, we got stuck behind the blades. mine initial reaction to the collision was, i didn't expect that. the report had been going very well up until then. then i saw huge shards of the titanic falling down on us, then i knew we were really in

serious trouble. my reaction, because i'm a scientist, was, how do we get out of it? i'm a professional problem solver. this is a problem to be sure. so i started racing through my mind the various ways we might be rescued. i thought of how much oxygen we had left, ifigured we had about eight hours of oxygen. the folks as you are indicating your, had much more oxygen than we did. i was on a much shorter fuse. after some while, maybe 15 minutes or more, trying to drug as we are not succeeding, i hit a brick wall. i pride myself on my intelligence —— trying to jog is free. this voice came into my head, this is how it is going to end for you. i thought of my wife, i would never see her again. for me it was ironic because none abc news correspondent, had been all over the world, north pole,

south pole, covered the persian gulf war. ijust thought, this is going to be the end for me. then somewhere between half an hour and an hour, you lose track of time down there, it is a very surreal experience when you are going through that, you have a sense of utter isolation. you're at the bottom of the atlantic ocean, two and a half miles down, very cold, very high pressure, so all the ordinary ways in which you might think of yourself being rescued from a situation like thatjust simply are not valid. they are not at all tenable. and so ijust was pretty much resigned to this was how it was going to end for me. then there was a moment when the ship's engine stopped struggling. 0ur pilot had been trying to get it out, so the engine was don't like it was utterly dark, are we hear is sound and the inertia of the submersible. that

quieted down, then i had a sense of floating. i at my diving partner, he looked at me, and we thought something is happening. either the engine has died and we are literally deadin engine has died and we are literally dead in the water, it is truly over, or something else. we are not bothered to pilot up until now, we do not want to disturb them. he was focused on getting us out of there. i dared after a while because this was such an inflection point, i turned to him, he was russian, did not speak very much english. i simply said, ok? that was all i said. he turned to me and he said, no problem and very thick russian. the sense of relief is indescribable. but it still wasn't over, we had two and half hours to get to the top of the ship. even when we got there, scuba divers had to dive in, get attached to the research vessel, get us on board. all in all, it was more than eight hours. my heart is breaking for these five people, i know what that is like, i have been there. i'm just

hoping that they can experience a miraculous rescue the way i did. find miraculous rescue the way i did. and ou are miraculous rescue the way i did. and you are presumably praying like so many other people.— many other people. yes. the difference — many other people. yes. the difference between _ many other people. yes. the difference between my i many other people. yes. the - difference between my submersible and there's, it is worth noting, is that mine was designed to be a scientific instrument, a very serious business, not a lot of room, we were on our bellies the entire time looking at everything through a small portal. we ship that is missing was built specifically for tourism. a lot of comfort relative tourism. a lot of comfort relative to us. i worry that in the process of designing this ship, which is not tested the way my vehicle was, may something would have happened, something would have happened, something has happened there that did not happen to me. we arejust hoping that as long as they have oxygen, there is hope. my worry is that there is no communication. i base my pilot had communication with the research vessel. even though we

were stuck in the research vessel could not do anything for us, at least we had that going for us. this one doesn't. so let's hope for the best. . ~ one doesn't. so let's hope for the best. ., ~ , ., one doesn't. so let's hope for the best. . ~' , ., , one doesn't. so let's hope for the best. ., ~ ,, , . one doesn't. so let's hope for the best. . ~ , . ., best. thank you very much for talkin: best. thank you very much for talking to _ best. thank you very much for talking to us _ best. thank you very much for talking to us this _ best. thank you very much for talking to us this evening. - the war in ukraine grinds on with aerial drone bombardment of kyiv this morning and the continuining offensive from ukrainian forces trying to win back lost territory in the east. the outcome of ukraine's counter offensive is farfrom certain, with moscow determined not to suffer the indignity of retreat. one man with a closer sense than most of how high the stakes might be for russian president vladimir putin is captainjohn foreman — until late last year the uk's defence attache in russia with a first hand view of the kremlin�*s preparations for invasion and response to the war. in his first tv interview since returning to britain, captain foreman sat down earlier with mark. watch russian tv news and you might think ukraine's counteroffensive was proving a costly mistake. most would say it's too early to say

about the russian army have learned —— most would say it's too early to say but the russian army have learned from its early mistakes in this war. well, certainly 2022 was an absolute omnishambles of all proportions. bad planning, bad understanding of ukraine, the breaking down of their offensive. from grand sweeping arcs through to tactical victories. but i think we've seen the russians before and during this war regrouping. they've changed their leadership. they've gone through a whole number of generals. they've managed to find more people, both volunteers and they mobilised troops. the military—industrial complex has still managed to churn out stuff. i think the russians have anticipated the ukraine offensive and it's quite likely, and it's quite likely, understandable, that as ukraine understandable, that as ukraine probes in some areas, russians start to attack in another area to draw the ukrainians away russia would run out from their main effort. the west's professional russia

watchers, in defence intelligence, for example, who early on predicted