LOOKING for your next big family holiday? This floating theme park might float your boat!

The eye-catching Norwegian Bliss cruise ship has an incredible two level race track on deck.

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Adrenaline junkie kids can go head to head on one of the longest race tracks at sea.

If you’re not eager to hit top speed, there are four settings for motorists – beginner, intermediate and advanced as well as a “turbo boost” option for those who have the need for speed.

The cars have four speed settings, for beginner, intermediate and advanced drivers that go up to 30 miles per hour, with a “turbo boost” on each lap for thrill seekers.

The track runs almost 1,000ft across two decks.

Competitors can nab a bargain Unlimited Weekly pass, which gives you unlimited rides, and you won’t have to wait endlessly in pesky queues.

If that doesn’t sate your need for speed, whizz down the Ocean Loops waterslide, which features two loops and hangs over the SIDE of the ship.

There is more racing on offer, too.

Challenge friends on the Aqua River waterslide, in an inner tube, or get your thrills on Ocean Loops which drops you two storeys into a double-loop flume.

If that still doesn’t tickle your fancy,  a game of outdoor laser tag located in a make-believe abandoned space station might do just day.

Players can seek out their rivals during the day, but it is much more exciting when dusk sets.

For parents and Beatles fans who want to unwind, a tribute band plays all the hits from the Cavern Club in the evenings.

During the day, feel free to lounge by the pool without fear of being disturbed as the go karts lapping nearby run silently.

For the height of luxury, check out The Haven — an exclusive area of the ship with posh suites, butlers and a two-bedroom family villa that even has a bath with sea view.

Splash out on a Haven suite and you can take a dip in a private pool, drink in a private bar and eat in a private restaurant.

Not that finding somewhere to refuel is ever a problem on Bliss. It has 14 watering holes and 27 places to eat, including a casual self-service, posh French bistro and Ocean Blue for seafood.

The Norwegian Bliss will cruises to Alaska from Seattle, and seasonally she’ll offer cruises to Bahamas and Florida, The Caribbean, Mexican Riviera, Pacific Coastal, and Panama Canal.

The cruise ship can accommodate just over 4,000 passengers.

She is also the first ocean liner with a huge glass-fronted observation lounge, which has been added because Bliss is cruising in Alaska and somewhere to sit and watch for passing whales is a must.

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Robert Jenrick has defended controversial claims that Britain’s special forces are “killing rather than capturing terrorists”, as the Conservative leadership frontrunner sought to quell a growing backlash during the party’s conference.

The former communities secretary on Tuesday refused to row back on the allegation he made in a campaign video this week, as he was criticised by rival leadership contenders.

In the video Jenrick said the UK’s “special forces are killing rather than capturing terrorists, because our lawyers tell us that if they’re caught, the European court will set them free”.

The remarks elicited a furious reaction in military circles, while Malcolm Chalmers, deputy director-general at the Royal United Services Institute, told Times Radio it was a “very dangerous” claim that “could put our forces at risk”. 

The furore — coming the day after fellow candidate Kemi Badenoch was criticised for comments over maternity pay — has injected fresh drama into the race to succeed Rishi Sunak as Tory leader.

Badenoch had been favourite at the start of the contest, but Jenrick — historically a centrist who has tacked to the right — has come first during the two rounds of voting by Tory MPs so far.

The four-day gathering has become a de facto leadership conference, with the four contenders — including Tom Tugendhat and James Cleverly — setting out their pitch following the party’s worst-ever election defeat. Tory MPs will eliminate two candidates next week, with party members voting for an overall winner by November 2.

On Tuesday Tugendhat and Cleverly — both of whom previously served in the army — condemned Jenrick’s comments about UK special forces. 

Tugendhat suggested at a fringe event that Jenrick knows “nothing about” sensitive military matters, after earlier telling Sky News that his remarks were “wrong” and showed a “misunderstanding of military operations and the law of armed conflict”.

Cleverly said that the UK military abided by international law and the rules of armed conflict, adding they “do not murder people”. 

Jenrick declined to back down, however, insisting during an hour-long question and answer session on the main stage that he had been referring to remarks made by former Tory defence secretary Ben Wallace. 

He added: “I don’t want our human rights apparatus to be standing in the way of taking the right operational decisions for our national security and for protecting the lives of the brave men and women who serve in our special forces.”

Elsewhere in his session he declared mass migration had left Britain “less united” and argued that previous Tory ministers increasing the number of inward arrivals after Brexit was “disgraceful”.

The former immigration minister criticised “the appearance of two-tier policing” in the UK, and heaped doubt on the BBC’s funding model.

He also said he would “like to” cut the 45p top rate of income tax, but said he would not commit to fiscal policy during the contest. 

Declaring himself “sad” that the Tories put the nation on the track to a record high tax burden, he said the party must return to being a “low tax and pro growth” party. 

In the wake of the donations row engulfing the Labour government, Jenrick vowed he would not take freebies — in contrast to Cleverly, who on Monday had defended taking some clothing donations in the past during a fringe event.

In his own question session Cleverly, promised to appoint a shadow cabinet from across the spectrum of the Conservative benches if he becomes leader.

He said he had not started his leadership bid before July’s catastrophic election defeat — unlike some rivals — but was confident of making it through to the final two candidates to be leader of the opposition.

In a dig at Jenrick, who backed Remain in 2016, Cleverly said he had always been a Eurosceptic. “It is now very fashionable to be a Brexiteer but I was doing it before it was cool.”

Cleverly played up his friendship with former prime minister Boris Johnson, pointing out that he was party chair when the UK finally left the EU. 

He said he would axe VAT on private schools — a Labour measure that comes into force next year — as well as abolish stamp duty, keep issuing licences for North Sea oil drilling, maintain support for Ukraine and consider a subscription model for the BBC.

Tugendhat and Badenoch took part in similar session on Monday.

The four contenders will close the conference on Wednesday with back-to-back speeches, 20 minutes long each, in a bid to woo both MPs and members.

PENSIONERS missing out on this year’s winter fuel payment may be able to claim cash from their local council to help with energy bills.

Around 10million pensioners will no longer get the benefit, which is worth up to £300, after chancellor Rachel Reeves changed the rules for qualifying.

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From this winter, the payment will be limited to people receiving Pension Credit and other means-tested benefits.

As a result, there are concerns many households will struggle with essential costs, like energy bills, throughout the winter.

Particularly as the energy price cap was increased today (October 1), meaning millions of households are facing a hike in their bills.

But, some local authorities have already stepped in to offer support to those left adrift by cuts to the benefit.

Cllr Pete Marland, chair of the Local Government Association’s Economy and Resources Board, said: “Councils recognise that changes to the way winter fuel allowance payments are made will mean some people no longer qualify and may experience difficulties.

“Many councils support local people in this situation with their own local welfare schemes, including using the Household Support Fund which has been recently extended by the government.

“However, councils do want to see a shift away from short term crisis support to investment in services which reduce poverty, improve people’s financial resilience and life chances, underpinned by a sufficiently-resourced national welfare system.”

Thurrock Council has created a £100,000 fund to help pensioners who receive benefits but will no longer qualify for the winter fuel payment.

Cllr Sara Muldowney, the council’s cabinet member for Resources, said: “We want to make sure that our residents, especially the borough’s most vulnerable pensioners and families, have access to the help and support they need to stay warm and well this autumn and winter.”

The authority has said it will work with Thurrock Community and Voluntary Services as well as other community groups to make sure support reaches those that need it.

Barnsley Council has also started a hardship fund for pensioners in response to the cut.

The council said it would be helping as many residents as possible to access the winter fuel payment, and step in if those who miss out find themselves in financial difficulties.

Councils are also looking to provide funds through the Household Support Fund (HSF).

The HSF is a pot of money shared between councils in England who then decide how to distribute it among those living in their areas.

That means what you are entitled to varies depending on where you live and is a postcode lottery.

The latest round of support will be delivered to councils this month and Milton Keynes City Council has said it will offer energy vouchers to struggling households immediately.

The council said it will assess applicants on a “case by case” basis, but people who are just missing out on the winter fuel payment will receive help worth up to £300.

Those who live in the council district and meet any of the following criteria will be contacted about accessing the support:

• Local people who are already in financial difficulty
• Those who fall out of eligibility for Pension Credit and the Winter Fuel Payment

Many councils are providing support with energy bills to all struggling households, including pensioners who will miss out on this year’s winter fuel payment.

Coventry Council will offer energy grants of up to £120 for single people or childless couples, and £160 for families.

Households living in the city can apply for a maximum of three grants between October 1 2024 and and March 31 2025.

Applications can be made online with proof of financial hardship.

Meanwhile, Bournemouth, Christchurch and Poole Council will provide grants to those over the age of 16 who do not have the money to cover essential costs.

Applications can be made through Citizens Advice here.

Medway Council is also providing help. It will give electronic energy cards to the value of £100 to those in demonstrable hardship, with less than £500 in their bank accounts.

Every council will receive funding from the HSF, so if you’re worried about making ends meet, check your local authority’s website for further details.

To find your local council, use the Government’s council locator tool.

What is the Household Support Fund?

The HSF was first set up in October 2021 and has now been extended six times.

Councils in England are now able to benefit from the latest round of funding which amounts to £421million.

Nationwide councils have received a portion of the cash to distribute to households in need.

But there is a postcode lottery to determine who qualifies and each local authority can set its own eligibility criteria.

Yet, if you have a limited amount of money or savings in the bank, or are deemed to be vulnerable or on benefits, you will probably qualify for help.

The HSF’s fifth round of funding will close on September 30, but the government has extended the scheme until April 2025 with the injection of a further £421million.

Applications may still be being accepted for the fifth round of funding, so it’s still worth checking with your local authority.

Councils will determine how the cash is distributed. For example, households in Leicestershire have been able to apply for a financial award of £300 per household, which was paid in the form of vouchers to support with gas, electricity and food.

The payment could be delivered as a Post Office voucher, which can be redeemed for cash to help with gas, electricity or water, or an e-voucher to help with food costs that can be converted to a gift card for major supermarkets.

Meanwhile, residents of Leeds could receive council tax support with those with dependent children able to claim up to £100, while those without children could receive £25.

You should get in touch with your local council to see if you might be eligible for help.

You can find what council area you fall under by using the Government’s council locator tool on its website.

The help you can get varies, depending on who your local council is, as well as your personal situation.

You may be able to receive free cash or vouchers to cover the cost of heating your home, or the weekly food grocery shop.

If an applicant is already receiving benefits, these will not be affected by the HSF.

Additionally, you do not need to be getting benefits to receive vouchers or funds from the HSF.

Check with your local council to find out what support is available and the eligibility criteria.

How do you apply?

To get the help, you’ll need to look it up with your council because local authorities are the ones responsible for distributing the funding.

To find your local council, use the gov.uk council finder tool.

Once you’ve identified your local council, there should be information on how to apply for the funding online.

Every council has a separate application process, meaning specific details regarding how to apply depend on where you live.

The eligibility requirements to access the fund might vary in addition so it’s best to check with your local council for further details.

Some councils won’t need you to apply for help and will get in touch instead if you qualify.

If you can’t find any information on your council’s website, it’ s a good idea to call them and ask for further information.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

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We are seeing the beginning of an easing cycle in monetary policy. Many now ask how far might interest rates fall and what those falls might mean for our economies. Yet, for me, the more interesting questions are longer-term. To be precise, there are three. First, have real interest rates at last made an enduring upward jump, after their secular decline to extraordinarily low levels? Second, has the valuation of stock markets ceased to be mean-reverting, even in the US, where mean-reversion had long seemed the norm? Third, might the answer to the first question have any bearing on the answer to the second?

In answering the first, we have one invaluable piece of information — a direct estimate of real interest rates for the UK provided by 10-year index-linked gilts for just under 40 years. US Treasury inflation-protected securities provide comparable information for the US, but only since 2003. These match each other well between 2002 and 2013. Since then real rates have fallen notably lower in the UK than in the US. The explanation must be the regulation of UK defined benefit pension plans, which has forced them to fund the government at absurdly low real interest rates, at great cost to the economy.

Between their peak in September 1992 and their trough in December 2021, UK real rates fell by more than eight percentage points. In the US, they fell by more than four percentage points between their peak in November 2008, at the beginning of the financial crisis, and December 2021, after the pandemic.

Two things happened: a long-term decline in real interest rates and then a sharp fall triggered by the global financial crisis and the pandemic. The longer-term decline must in large part reflect the impact of globalisation, notably China’s huge excess savings.

Yet the recent rise in real rates has not brought real interest rates back to pre-financial crisis levels: today, they are 1.5 per cent in the US. These are modest rates. Estimates by the Federal Reserve Bank of St Louis (using a different methodology) give real interest rates of above 2 per cent in the 1990s in the US.

We have some reasons to expect real rates to go even higher. After all, they are still not all that high. Fiscal positions are stretched, notably in the US. There are the investment needs of the energy transition to fund, too. We have also moved from ageing to aged societies. This will tend to lower savings and raise fiscal pressures in high-income countries and China. Global turmoil will also raise spending on defence. This suggests that further increases in real rates are plausible. At the same time, ageing societies will tend to spend less on consumer durables and housing. This would weaken demand for investment. Moreover, as the OECD interim Economic Outlook notes, global economic growth is not widely expected to pick up strongly.

On balance, it is hard to have a strong view on future real interest rates, in either direction. Yet one might still have a view that inflation is set to return, perhaps as a result of soaring fiscal deficits and debts. That would show up as higher nominal interest rates if (or when) confidence in the ability of central banks to hit inflation targets started to erode. They have contained the recent price upsurge. But inflationary pressures could very easily return.

Now consider equity prices. What have today’s higher real interest rates meant for them? So far, the answer is: very little. If we look at the cyclically adjusted price-earnings ratios (Cape) developed by the Nobel-laureate Robert Shiller, we find that in the US both of the ratios he currently uses are close to all-time highs. The implied cyclically adjusted earnings yield on the S&P 500 is a mere 2.8 per cent. That is just one percentage point above the Tips rate. It is also much lower than for any other significant stock market.

“Sell”, it seems to scream. Needless to say, that has not been happening. So, why not? Today’s earnings yield is, after all, almost 60 per cent below its historic average. One answer, lucidly propounded by Aswath Damodaran of the Stern School of Business, is that the past is not relevant. Certainly, he is right that backward-looking valuation ratios have been a poor guide to future returns, at least since the financial crisis. We cannot know whether this will remain true. Yet it is not hard to understand why he has jettisoned the past in favour of forecasts of future earnings. But the future is also highly uncertain. It is not difficult to imagine shocks able to disrupt markets that are far worse than the recent ones.

What we do know is that the margin between the real interest rate and the cyclically adjusted earnings yield is very small. It seem safe to argue that prospective returns from owning US stocks are unlikely to come to any large extent (if at all) from revaluations, given how highly valued they already are. Even the current valuations must depend on a belief in the ability of earnings to grow at extremely high rates far into the future, perhaps because existing (or prospective) monopolists will remain as profitable as today’s tech giants (now including Nvidia) have been.

This is essentially a bet on the ability of today’s US capitalism to generate supernormal profits forever. The weakness of other markets is a bet on the opposite outcome. If investors are right, recent rises in real interest rates are neither here nor there. In sum, they are betting on the proposition that “it really is different this time”. Personally, I find this hard to accept. But maybe, network effects and zero marginal costs have turned profitability into “manna from heaven”. Those able to collect it will enjoy their feast of profits forever.

Real interest rates? Who cares? Soaring inflation might be another matter.

martin.wolf@ft.com

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A HOMEOWNER was ordered to flatten their garden after raising its height to peer over their neighbour’s 6ft fence.

An argument broke out after the offender piled dirt to create a terrace which caused a “significant degree of overlooking”.

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The resident, who lives in Dinas Powys in Wales, laid artificial grass over the raised bed for a barbeque and summer house – all the same height as their patio doors.

Furious by the lack of privacy, the neighbour complained to the local council.

Council staff paid a visit and were not impressed with what they saw.

The Vale of Glamorgan’s planning committee found that the height of the garden had been increased by 600mm and would need to be lowered by 300mm.

However, the resident refused to flatten their garden and instead submitted a planning application.

It was denied by the council, who deemed the change to the garden and the infringement on their neighbour’s privacy “unacceptable”.

A Vale of Glamorgan Council spokesperson told The Sun: “Every planning application is different with each considered on its merits.

“In this case, it was decided that the development would involve and unacceptable loss of privacy for a neighbouring property so the application was rejected.”

Whilst the majority of councillors on the planning committee agreed that the garden’s height was inappropriate, Cllr Christine Cave said the decision was “hypocritical “.

A former primary school in the area had portable homes erected through special planning powers.

The temporary accommodation was passed for Ukrainian refugees, but the councillor argued that they were tall enough to see into people’s gardens – like the raised garden.

“When we made the site visit [to Eagleswell in Llantwit Major] and we actually asked why the ground had been built up and why the buildings could then be overlooking into peoples’ gardens. 

“This seems a bit hypocritical to me here, that the council have done exactly the same on a much grander scale with huge overlooking of peoples’ gardens and now we are being told it is not permissible.”

Vale of Glamorgan Council allowed the development of the site at Llantwit Major through what is known as permitted development rights.

The planning powers are usually used in an emergency, but the scheme must eventually get planning permission within 12 months of the construction starting.

The council’s planning committee voted to allow the 90 units permission to remain for a minimum of five more years.

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Greggs shrugged off slowing sales in the past quarter, which the UK bakery chain blamed on violent riots and poor weather, and said its appeal to cost-conscious shoppers would endure even as inflation eased.

However, shares in the food-to-go retailer — which continues to expand rapidly as its popularity has soared in recent years — still fell 6 per cent on Tuesday as sales growth slowed in the three months to September 28.

“We had the riots, and we know that in some key shopping locations the public decided to stay away from those locations for a period of time just because of the unrest that was taking place,” chief executive Roisin Currie told the Financial Times. The UK experienced about a week of anti-immigrant and far-right violence from late July, as masked men attacked hotels housing asylum seekers and mosques while clashing with police.

She added that the “wet and damp weather of the British summer” as well as uncertainty over the general election had weighed on trading in July and August, but that it had recovered in September.

Like-for-like sales for company-managed shops were up 5 per cent in the 13-week period, a slowdown from a 7.4 per cent rise in the first half.

Currie said she was confident that 2025 would be “better than the preceding two years” for Greggs, which grew significantly amid the cost of living crisis, as consumers will stick with its products such as the popular sausage rolls even when they have more disposable income.

“Customers, through the cost of living crisis, have now just become more savvy,” she said. “Even when you might have a bit more cash in your pocket, you want to choose where you spend that.”

“We’ve probably got more customers who maybe came to us occasionally previously, but are [now] more frequent consumers, and I believe that behaviour will stay,” Currie said, adding that new products and opening into the evening were broadening the chain’s appeal.

She added that the easing of inflation including food commodities would also relieve cost pressure on the business, even as wage costs continued to grow.

Data published by the British Retail Consortium said UK shop prices fell for the second consecutive month in September, with the 0.6 per cent contraction the lowest rate in more than three years.

Currie’s bullish comments come as Greggs gears up its expansion. The Newcastle-based group is set to open between 140 and 160 new stores this year, after adding 145 in 2023.

In 2021, Greggs set out a plan to double its sales by 2026 and to have “significantly” more than 3,000 shops in the UK. It currently has 2,559.

Shares have surged over the past year, rising 28 per cent before Tuesday’s fall. Clive Black, head of research at Shore Capital, said the third quarter was “weaker and also more volatile than the management would have expected”.

“Greggs is undoubtedly very well placed when times get tough”, which has been the case over the past few years, Black said. “As inflation falls and living standards rise, is Greggs as well positioned as some others? Probably not.”