live Hormuz traffic slows as uncertainty over waterway persists
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most s...
British Prime Minister Keir Starmer defended Deputy Prime Minister Angela Rayner and his government’s handling of borrowing costs during a heated parliament session on Wednesday, 3 September, facing sharp attacks from opposition leader Kemi Badenoch.
The debate at Prime Minister’s Questions came after Rayner admitted underpaying property tax on a house she purchased in southern England and referred herself to the government’s ethics adviser. Badenoch seized on the case, accusing Starmer of double standards and questioning why his deputy remained in office.
“I also welcome the fact that the Deputy Prime Minister has referred herself to the ethics adviser. She has admitted she underpaid tax. So why is she still in office? But there is not just a crisis at the very top of his cabinet. Mr Speaker, there is a crisis brewing for the whole country. When was the last time the cost of government borrowing was so high?” Badenoch asked.
Starmer responded by defending Rayner’s decision to disclose personal details of her case, including matters related to her family.
“In relation to the Deputy Prime Minister, she has explained her personal circumstances in detail. She’s gone over and above in setting out the details, including, Mr Speaker, yesterday afternoon asking a court to lift the confidentiality order in relation to her own son,” he said.
Borrowing costs have climbed to their highest level since 1998, outpacing those of other G7 economies. Inflation remains elevated, limiting the Bank of England’s ability to cut interest rates.
Pressed on the issue, Starmer said the government was committed to reducing debt through strict fiscal rules.
“Mr Speaker, on the question of borrowing costs, they have risen across the world as the leader of the opposition well knows, we are driving them down by getting debt down. That is hardwired into our fiscal rules. Those fiscal rules are non-negotiable,” he told MPs.
The prime minister also launched a stinging attack on Reform UK leader Nigel Farage, who has travelled to Washington to testify before a U.S. House committee.
“He’s flown to America to bad mouth and talk down our country. And worse than that Mr Speaker … he’s gone there to lobby the Americans to impose sanctions on this country, which will harm working people. You cannot get more unpatriotic than that. It’s a disgrace,” Starmer said.
Government borrowing costs are now the highest in the Group of Seven economies and at their peak since 1998.
Deputy Prime Minister Angela Rayner has referred herself to the government’s ethics adviser after admitting she underpaid property tax.
U.S. President Donald Trump says Washington is not seeking an extension of its memorandum of understanding with Iran, claiming the U.S. already controls the Strait of Hormuz through its naval blockade.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
Ukraine has targeted at least 20 Wildberries warehouses across Russia since 18 July, disrupting a major logistics network. Kyiv says the strikes aim to disrupt alleged military-linked supplies, while the attacks have caused billions of dollars in losses and wider economic pressure.
Russia said its air defences downed 180 drones over the Moscow region overnight, with 620 drones reportedly targeting the area, according to Moscow Mayor Sergei Sobyanin.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
The U.S. imposed sanctions on the International Criminal Court's (ICC) President Tomoko Akane and a senior trial lawyer at the court Abdoulaye Seye on Tuesday, Secretary of State Marco Rubio said.
Apple has announced a major overhaul of its business terms for apps distributed in the European Union, introducing a five per cent commission on digital transactions outside its App Store and simplifying its fee structure as it seeks to comply with the bloc’s Digital Markets Act (DMA).
A record number of humanitarian workers were killed, injured or kidnapped in 2025, with the growing use of armed drones contributing to mounting risks in conflict zones, the United Nations said on Wednesday.
Former Ukrainian Defence Minister Mykhailo Fedorov has called for elections despite the war with Russia, mounting what is widely seen as the biggest domestic political challenge to President Volodymyr Zelenskyy since Moscow launched its full-scale invasion.
At least nine people were killed, including a child, in a fire at a hotel in India's eastern city of Kolkata on Wednesday, local police said.
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