Morning Briefing: Wednesday 21 October 2026
- If you receive benefits: working-age benefits including the personal independence payment and carer’s allowance will rise 3.5% in April, because the law ties them to this month’s inflation figure. The state pension is set separately and rises 3.9%, under the triple lock, on earnings growth between May and July.
- If you drive: petrol rose 8.2p in a single month to 169.5p a litre, the highest since August 2022, and diesel rose 10.7p to 192.5p, the highest since July 2022. Fuel was the single largest contributor to the rise in inflation.
- If you have a mortgage: Bank Rate is 3.75% and markets now put a quarter-point rise to 4% on 5 November at close to a certainty. The Budget comes first, a week today, and nothing is decided until the Bank meets.
Putin Frees American as Witkoff Opens Talks in St Petersburg
President Putin announced the release of Stephen Hubbard, a 74-year-old American held since shortly after Russia invaded Ukraine, during talks with the United States envoy Steve Witkoff at a palace outside St Petersburg. Witkoff said there…
RAF Typhoons to Defend Saudi Skies as the Gulf War Widens
Britain will fly Typhoon fighters on defensive missions over Saudi cities and infrastructure, and has extended an existing refuelling mission for Saudi jets by 90 days. Egypt’s president is seeking parliamentary authority for a defensive m…
France’s Borrowing Cost Tops 5% as Europe’s Riots Spread to Italy
French ten-year borrowing costs briefly rose above 5% this morning for the first time since July 2002, before easing back just below. The premium over Germany is near 160 basis points, and France now pays more to borrow than Italy. Italy h…
Drone Strike on Abyei Market Kills 153, South Sudan Protests
The toll from a drone strike on a fuel depot at a market in the disputed Abyei region has been revised up from 73 to at least 153, and officials say it is still rising. South Sudan has summoned Sudan’s ambassador in protest. A military sou…
Nigeria Confirms First Ebola Case as Outbreak Reaches West Africa
A woman who arrived from Uganda has tested positive in Abuja, Nigeria’s first case of this outbreak, and 44 contacts are being traced. She developed symptoms on 7 October and was admitted to a private hospital four days later. The strain i…
Inflation Climbs to 3.5% as Fuel Prices Jump Before the Budget
Prices rose 3.5% in the year to September, up from 3.1% in August and above the 3.4% forecasters expected. Motor fuel made the largest contribution: petrol rose 8.2p in a single month to 169.5p a litre and diesel 10.7p to 192.5p. By law th…
Borrowing Hits £24.5bn and Debt Passes £3 Trillion
The government borrowed £24.5bn in September, £1.9bn above the official forecast and the most in any single month since March 2021. Debt interest alone came to £10.9bn, the highest September figure since records began in 1997. Public secto…
Jackdaw Gas Field Approved With New Energy Wealth Fund
Ministers have cleared the Jackdaw field in the North Sea, with the regulator granting consent this morning and gas expected to flow from the end of this month. The government simultaneously announced an Energy Wealth Fund, opening with £2…
Minister Declines to Back Fifteen-Year Wait for Settlement
The energy secretary repeatedly declined in a broadcast interview this morning to say she supports extending the wait for permanent residency from five years to fifteen, a proposal of the home secretary’s now out for consultation. Asked di…
High-Risk Cosmetic Procedures Would Be Restricted to Doctors
Under plans put out for consultation this morning, fillers injected anywhere other than the face, including liquid Brazilian butt lifts, would be legally classed as surgery and could be performed only by doctors. Cosmetic surgery would be…