P&O Ferries tells crew it will comply with French legislation which limits the hours seafarers can work and requires payment of the minimum wage

Rival ferry operators had expected P&O to challenge the new law, ITV News Business and Economics editor @ITVjoel reports

The chancellor says he wants to cut taxes again before the election if he can, but the IMF suggests the cuts he has already made aren’t credible.

It urges the government to take urgent action to reign in its debts, as @ITVjoel reports

WE'VE DONE IT!!!!!!!!!!!!!!!!!!!! 🏆

#Pompey

'These fiscal rules are not good'

Former Bank of England Chief Economist Andy Haldane says Jeremy Hunt & Rachel Reeves’ fiscal rules are holding back investment and growth, describing them as 'self-defeating on their own terms'.

#Peston

H2-OH-NO!

Mark is correct.👇 Although, special administration is not a given.

There are a lot of vested interests in play.

Beware of brinksmanship.

Shareholders can always change their mind.

MPs summon the boss of P&O to answer questions about working conditions onboard the company’s ferries.

Meanwhile, P&O u-turns. It will now sign a charter which includes a commitment to paying crew the UK minimum wage. But it won’t say when.
Full report: itv.com/news/2024-03-2…

New: the chief executive of P&O Ferries has been summoned by MPs to answer questions about the way it treats its crew.

On 7th May, Peter Hebblethwaite will appear on a panel with executives from other firms which have been named and shamed for failing to pay the minimum wage.

Last Sunday marked the second anniversary of P&O Ferries sacking 786 workers. Two years on nothing has changed.

It has now been revealed that the company is forcing staff to work 12 hours a day, 7 days a week, for up to *17 weeks* at a time.

This cannot be allowed to continue.

The interest rate decision in brief: Bank of England holds but points to signs that domestic inflationary pressures are easing. No hint that cuts are imminent.

And good news for the chancellor. MPC decides his Budget is will stimulate a little growth and very little inflation.

It’s a hold! Bank of England votes for the fifth time to keep rates at 5.25%.