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5 Things You Need To Know, Today, on Thursday 8th December 2022
5. The Bank of England looks set to raise interest rates to 3.5% or more next week, but policymakers appear increasingly split on how much tightening is needed to tame double-digit inflation as the economy heads into recession.
Last month BoE Governor Andrew Bailey said further rate rises were likely to be necessary, though fewer than financial markets had priced in before that meeting, when investors were betting rates would reach 5.25% in mid-2023.
4. Rishi Sunak said he would take more action "to protect the lives and livelihoods" of Britons during months of planned strikes by rail, health and postal workers.
Britain, already grappling with industrial action across a range of sectors, now faces strikes by thousands of public-sector nurses in England and ambulance workers in England and Wales, who plan to walk out this month over pay and conditions.
3. Michael Gove has approved the first new UK coal mine in 30 years despite concern about its climate impacts among Conservative MPs and experts.
The proposed mine in Cumbria would dig up coking coal for steel production in the UK and across the world
2. Border Force staff are going on strike for eight days over Christmas at Heathrow, Gatwick and several other airports, the PCS union has announced.
About 75% of passport control staff are PCS members - and Heathrow has warned checks may take longer on strike days.
1. UK house prices saw their biggest drop in 14 years in November, falling 2.3%, reflecting "volatility" in the market, according to mortgage lender Halifax.
November marks the third month in a row during which prices have fallen with potential buyers playing safe by delaying purchases.