5 Things You Need To Know (15/6/17)
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
Welcome to our daily update, where we summarise the key talking points from the last 24 hours.
1. Theresa May Orders Tower Inquiry
Theresa May has ordered a public inquiry to take place into the fire that devastated Grenfell Tower in west London.
The fatality count has gone up, with at least seventeen people dead. Fire chiefs are expecting that number to rise, with no further survivors expected.
2. The Queen’s Speech
The Queen’s speech has been confirmed for June 21, two days after its intended date.
The speech will mark the opening of parliament, outlining the government’s policies. However, a Conservative deal with the DUP isn’t yet confirmed, with talks ongoing between the two parties. Nevertheless, a deal is expected to be made, with the negotiations currently in the final stages.
It has also been confirmed that Brexit negotiations between the UK and EU will begin on Monday.
3. Interest rate
The Bank Of England will keep UK interest rates at 0.25%, however, the committee vote was a close 5-3.
Inflation is currently above the Bank Of England’s 2% target, with last month’s inflation rate rising to 2.9%.
4. Trump Probe
President Donald Trump is being investigated for possible obstruction of justice, US media are reporting.
Special counsel Robert Mueller will handle the investigation. Mr Trump created controversy with his firing of FBI Director James Comey in May, and some allege he may have colluded with Russia.
Trump has reacted, tweeting “They made up a phony collusion with the Russians story, found zero proof, so now they go for obstruction of justice on the phony story. Nice. You are witnessing the single greatest WITCH HUNT in American political history – led by some very bad and conflicted people!”
5. Tim Farron
Tim Farron has resigned as leader of the Liberal Democrats, claiming his faith was too much in conflict with his politics.
“I am torn between living as a faithful Christian and serving as a political leader,” Mr Farron said.
During the election campaign, he was repeatedly asked his views on gay rights issues, and at times appeared to find it difficult to answer.
Jo Swinson is the bookmakers favourite to become the new leader.