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Sympathy to Scorn: The Fight Against October 7 Denialism in the Mainstream Media

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Sympathy to Scorn: The Fight Against October 7 Denialism in the Mainstream Media

There are few words left that can fully encapsulate the sheer horror of October 7, 2023, the day when Hamas terrorists, alongside Palestinian civilians, unleashed an unfathomable wave of barbarity and bloodlust on defenseless men, women, and children.

The brutality they inflicted is almost unspeakable, and the fear and anguish endured by the victims continue to haunt those who survived.

Some survivors, along with those held hostage in Gaza and later freed in prisoner exchanges, have bravely shared their stories, while many remain too traumatized to speak. Heartbroken families who exchanged their final words with loved ones trapped inside their homes by armed terrorists have also shared their grief. First responders and emergency personnel who rushed to the scene have detailed, in raw terms, the atrocities they witnessed and the lives they struggled to save.

But the voices we will never hear belong to those who endured the very worst of Hamas’ barbarism—those who were tortured, sexually assaulted, mutilated, and murdered in cold blood. Many of these horrific acts were captured by the body cameras of the terrorists themselves, who filmed not only the slaughter but also their sickening pride in committing such violence. Their actions, and the sadistic glee they reveled in, reveal the depth of cruelty and hatred that October 7 has come to represent.

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October 7 marked the single deadliest day for the Jewish people since the Holocaust. In those immediate hours, there was a fleeting moment when the world—or at least the media—seemed united in grief. As Israelis and Jews across the Diaspora wept over the unfathomable brutality inflicted upon their community, it appeared that the world too was mourning.

However, for some in the media, the words “Never Again,” or the resonant “Never Again is Now,” echoed in the aftermath of October 7, were not to be taken literally. Once Israel began its defensive response against Hamas—a genocidal terrorist group openly committed to repeating the massacre until Israel and its people are wiped from the earth—the backlash from certain corners of the media was swift, disproportionate, and relentless. The narrative shifted from grief and horror to harsh criticism of Israel’s right to defend itself, betraying the brief sense of solidarity that had momentarily surfaced.

Indeed, barely 72 hours had passed since the first wave of Hamas terrorists crossed the border when the media began laying the foundation for what would soon become a widespread and reckless accusation: that Israel was committing genocide in Gaza.

The “genocide libel” is not new—far from it. However, the speed and ease with which it was embraced by those who should know better was staggering.

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Take Reuters on October 10, when they published a piece with a headline quoting the Palestinian UN envoy accusing Israel of launching a “genocidal campaign against Gaza.” This accusation, made by Riyad H. Mansour, was based on false claims—none of the alleged actions amounting to genocide had occurred, including the use of “starvation as a method of warfare” or an “attempt to eradicate their national existence.” Yet, Reuters ran with the incendiary headline regardless. From that moment, the dye was set, and the narrative began to take shape. Despite all facts to the contrary, the genocide accusation would take on a life of its own, stubbornly persisting in public discourse.

 

The Attempted Mainstreaming of October 7 Revisionism

One of the key tactics used to delegitimize Israel’s right to self-defense—and, by extension, its very right to exist—has been the spread of October 7 revisionism. This campaign either denies aspects of Hamas’s crimes or downplays the massacre altogether. While these narratives didn’t necessarily originate in the media, those seeking Israel’s destruction have found willing enablers—whether unwitting or deliberate—within mainstream outlets to advance their cause.

This campaign has centered on three main points: denying the sexual violence committed by Hamas terrorists, framing the attack as a legitimate act of resistance, and claiming that Israel is exploiting October 7 to “occupy” Gaza.

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Denial of Hamas Sexual Violence

The denial of Hamas’ well-documented sexual crimes began with conspiracy outlets like The Intercept and The Grayzone, but these narratives gained some legitimacy through a minority of mainstream media coverage. Political podcaster Brianna Joy Gray, for example, suggested that believing Israeli women were raped was an “overreach” because none had “offered testimony.” Gray was later fired from The Hill after rolling her eyes at Yarden Gonen, the sister of hostage Romi Gonen who was appealing for her to believe the accounts of Israeli victims.

Masha Gessen contributed to this narrative in The New Yorker, with a feature that purported to “investigate” the sexual violence on October 7, only to ultimately accuse Israel of “weaponizing” these crimes. While Gessen did not outright deny that sexual violence occurred, the piece downplayed its extent and gravity, casting doubt on a UN investigation led by Pramila Patten and dismissing witness testimony.

However, organizations like HonestReporting countered this denial early on, preventing the falsehood from gaining a foothold or becoming widespread in mainstream media.

Framing the Hamas Massacre as a Legitimate Act of ‘Resistance’

Once again, a narrative that originated in the antisemitic corners of the Internet has been amplified by sections of the mainstream media: the claim that Hamas’ October 7 attack was a legitimate act of resistance.

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The BBC, in particular, has come under significant scrutiny. An analysis of four months of its coverage, starting on October 7, uncovered a staggering 1,500 breaches of its own editorial guidelines. This investigation, led by UK lawyer Trevor Asserson and his firm, involved a team of around 20 lawyers and 20 data scientists. It exposed systemic failures in maintaining impartiality and accuracy. Among the findings was the BBC’s frequent portrayal of Hamas in sympathetic terms, particularly as a “resistance movement,” with its fighters referred to as “soldiers.” One of the most egregious examples was a headline that described Hamas’ October 7 assault as a “spectacular” operation.

Numerous other mainstream outlets have also echoed this narrative of “resistance.” However, continued efforts to counter this grotesque framing have been effective in pushing back against the spread of this dangerous revisionism.

Hinting Israel is Using October 7 as a Pretext to Occupy Gaza

From CNN to the BBC, parts of the media have pushed the narrative that Israel will use the Hamas massacre as an excuse to seize Gaza. This misleading claim relies on statements from a small group of right-wing Israeli politicians, who do not represent the broader Israeli population or government, to imply that Israel’s long-term strategy is to occupy the Strip.

Guardian columnist Owen Jones, who has also cast doubt on Hamas’s sexual violence, falsely claimed on Good Morning Britain that Israeli Prime Minister Benjamin Netanyahu had laid the first stone of a new settlement in Gaza. After HonestReporting revealed that Jones had mistranslated Netanyahu’s speech—he was actually referring to a destroyed kibbutz in the Gaza Envelope, outside of Gaza—Jones issued a correction.

Exposing and Confronting October 7 Distortion

The battle against the distortion of October 7’s atrocities has demonstrated that swift, decisive action is essential to stopping dangerous falsehoods from taking root. The screening of Bearing Witness—a film that reveals Hamas’ body cam footage of the massacre—was an unflinching and effective way of showing the brutal reality to journalists and key figures. The film struck a careful balance between honoring the memories of the victims and survivors while ensuring the truth was communicated to the wider public.

Organizations like HonestReporting have been relentless in exposing those who spread revisionist lies, actively shaming individuals and media outlets that seek to downplay or distort the reality of Hamas’ brutality. Left unchecked, these falsehoods risk becoming entrenched in public consciousness, much like the insidious “genocide libel.”

But HonestReporting’s efforts show that it is possible to stop these distortions before they metastasize into accepted narratives. The truth is not just a countermeasure—it’s a weapon against the lies proliferating online, in social media, and in print.

Liked this article? Follow HonestReporting on Twitter, Facebook, Instagram and TikTok to see even more posts and videos debunking news bias and smears, as well as other content explaining what’s really going on in Israel and the region.

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Image credit: Yonatan Sindel via Flash90

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Questions for First Minister about Michael McMonagle

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Questions for First Minister about Michael McMonagle
REUTERS Michelle O'Neill delivers a speech. She's mid-sentence. Her blond hair is tied up and she's wearing a pink jacket over a black dress. The background is black.REUTERS

O’Neill admitted “serious omissions” from earlier accounts given by the party about work references provided for McMonagle

The First Minister Michelle O’Neill is facing demands to make a statement to MLAs about how her party dealt with its former press officer and now convicted child sex offender Michael McMonagle.

The DUP and SDLP have called for “full transparency” from the Sinn Féin leader at Stormont.

Over the weekend O’Neill admitted “serious omissions” from earlier accounts given by the party about work references provided for McMonagle to his new employer the British Heart Foundation.

The references were given by two former Sinn Féin press officers who have now quit the party.

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Here are the key questions facing the First Minister.

Why provide references?

McMonagle walking outside a building. He has short brown hair, and he's wearing a brown suit with a blue shirt.

McMonagle is currently awaiting sentencing after admitting to a series of child sex offences

Why did two former Sinn Féin press officers provide references for McMonagle which failed to mention he was under police investigation for child sex offences?

O’Neill has said she was “aghast and horrified’ by the actions of the two former press officers but so far has not said what explanation they gave for providing the references.

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We now know from the British Heart Foundation Sean Mag Uidhir and Caolan McGinley raised no concern about McMonagle’s suitability for employment or referenced the ongoing police investigation.

Was it a case of the former press officers’ judgement being clouded by friendship and loyalty or was it as some have suggested evidence of a cultural blind spot within Sinn Féin when it comes to such cases.

The party has been criticised in the past over how it dealt with previous republican child sex offenders.

Who knew?

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Who all within the party knew about the references and how was the leadership left in the dark?

Sinn Féin has insisted the party leadership was unaware of the references until late last month but it has now admitted a HR manager was informed about them last year by the British Heart Foundation.

O’Neill has described that as a “serious omission” from earlier accounts. She said the manager did not inform the party leadership.

But who is this HR manager how did they not red flag references for McMonagle at the time?

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This drip feed of information raises questions as to what else has yet to emerge and it has also damaged the party’s credibility in getting to the truth of what happened

Why not inform BHF?

PA Conor Murphy at Parliament Buildings. He's wearing a dark coloured suit with a white shirt and a black and white checked tie. The photo is an extreme close up with the background blurred. He's speaking so his mouth is partially open.PA

Murphy says the party did not want to prejudice the police investigation by informing the charity of McMonagle’s arrest

Why did Sinn Féin not alert the British Heart Foundation that McMonagle had been suspended from the party and was under police investigation?

According to Sinn Féin Minister Conor Murphy the party did not want to prejudice the police investigation by informing the charity of McMonagle’s arrest.

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He also argued that at the time McMonagle was facing accusations and there was no way of knowing if he would ultimately be charged.

But this has been contradicted by chief constable Jon Boutcher who said sharing information with the charity would not have compromised the investigation.

O’Neill will likely stick to the line that she was unaware that McMonagle had taken up employment with the British Heart Foundation.

FM pictured standing close to McMonagle

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How can Michelle O’Neill insist she did not see McMonagle at an event at Stormont despite standing just yards from him?

This is a big challenge for the First Minister, convincing the public she didn’t see McMonagle despite being photographed close to him in Stormont’s Great hall.

She said she was solely focused on Daithi Mac Gabhann and his family at the time and was unaware of McMonagle at the event.

Expect her opponents to seize on this and argue the photographs speak louder than her words.

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Had the First Minister admitted spotting McMonagle then questions as to why she didn’t raise a red flag would follow.

BHF’s ‘due diligence’

Fearghal McKinney, from the BHF, is wearing a black suit with a blue shirt and a red patterned tie. He's standing behind soft green walls.

Fearghal McKinney, head of the BHF in Northern Ireland, said it was important to correct the record

Why did Sinn Féin question the lack of “due diligence” exercised by McMonagle’s new employers?

At the time this was a veiled swipe at the British Heart Foundation which the charity said caused it “reputational damage”.

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Some say it felt like classic deflection at a time when Sinn Féin was under maximum pressure.

The party has since expressed regret for the comments according to the charity and there is a sense both sides now want to move on.

Complaint

Sinn Féin has confirmed McMonagle was also involved in an incident with a female colleague. What happened and was there a complaint made?

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According to Sinn Féin McMonagle had made his colleague feel uncomfortable at a non work related social gathering.

The party said it was resolved by a mutual agreement between them at the time.

This information was released at the weekend just days after BBC News NI asked Sinn Féin if it had received complaints about McMonagle from female colleagues in the party.

The BBC was aware of reports that a complaint was made about McMonagle’s behaviour towards a colleague and this statement now appears to confirm this.

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Hard Graft at the Wellcome Collection — new exhibition puts overdue spotlight on invisible toil

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In this newspaper we spotlight the work of the rich and powerful. Business and political news dominates. We forget, usually, that this world of shiny workplaces and frictionless lifestyles is made possible by the unseen, underpaid work of millions of office cleaners, refuse collectors, domestic staff — and sex workers.

Hard Graft: Work, Health and Rights, at London’s Wellcome Collection, puts a long overdue spotlight on these forms of physical labour. The space is divided into three zones headed “The Plantation”, “The Street” and “The Home”. These sections reflect locations of physical labour, starting with enslavement on plantations, and their legacy today; passing through the street — traditional site of sex work and refuse collection — and finally into the home, where domestic workers may be trapped in modern slavery. Each of the three areas is bounded by latticed timber walls, generating an impression of inside/outside spaces, enclosure and freedom.

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The exhibition brings together unexpected combinations of art and artefact to make new connections in the viewer’s mind about power, resistance, racialised oppression — and the effects of hard labour on individuals. Items in the show span the early 19th century to the present, from a slide rule (1823) used to calculate treadmill productivity in prisons, to a new multimedia installation by Moi Tran, “Care Chains, Love Will Continue to Resonate”, made with the participation of 12 domestic workers in the UK.

These connections are subtle — nothing is forced upon the visitor. The inclusion of many of the objects is anyway self-evident (late 19th-century photographs of night-soil workers in China; thumbnail portraits of early 19th-century prostitutes with their names and charging rates). And there’s a big name among the emerging art talent: a series of nine pictures (of tools) by Turner Prize winner Lubaina Himid, subject of a Tate Modern retrospective in 2021/2022.

Colourful, cartoonish painting, apparently inspired by Harriet Tubman, in which a woman lies asleep on her back, lying on the ground, cradling a rifle in her arms, her gnarled feet in the foreground of the frame, while another couple sleep curled up  n the background of the scene
‘Daybreak — A Time to Rest’ (1967) by Jacob Lawrence, a painting inspired by the abolitionist Harriet Tubman, on loan from the National Gallery of Art in Washington DC © Wellcome Collection

There’s hope here, as well as anger and misery. One of the show’s strands follows the long history of collective action in response to exploitative employers, as well as spotlighting the physical and spiritual healing practices shared among enslaved and marginalised communities.

Reflections of resistance that caught my attention included a range of 1970s “wages for housework” campaign badges and a joyful 1967 painting, “Daybreak — A Time to Rest”, by the African American artist Jacob Lawrence. (This piece is on loan from the National Gallery of Art in Washington DC, and in the UK for the first time.) I loved a wall of portraits by Charmaine Watkiss, a Black British artist interested in the herbal healing traditions of Caribbean women. The show links Watkiss’s work back to the medical knowledge that enslaved women shared, pairing the exhibit with a book by the pioneering 17th-century German-born botanical artist Maria Sibylla Merian. Going further, we learn that while researching in Dutch Guiana, as the objects catalogue points out, “[Merian] had direct contact with enslaved workers . . . her writing and social status were complicit and benefited from slavery.”

The centrepiece (and for me, the highlight) of the exhibition is a site-specific commission: a room-filling model of a church. Closer inspection reveals that it’s two different churches. The interior of Lindsey Mendick’s “Money Makes the World Go Round” installation represents the Saint-Nizier church in Lyon and the Holy Cross church in St Pancras, London. Both were occupied by sex workers in landmark protests — in 1975 in France and 1982 in London. It’s playing with our notions of churches as sanctuary and safe spaces. I had no idea about this hidden history of resistance. Mendick collaborated with members of SWARM (Sex Workers Advocacy and Resistance Movement), a sex workers’ collective, in making it.

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Scaled reproduction of a Medieval church, with stained glass windows and a neon sign which reads ‘workers workers workers’
‘Money Makes The World Go Round’ (2024) by Lindsey Mendick, an installation that recreates two churches which were the site of protest by sex workers

Around the front, inside the church, there are rows and rows of ceramics — for example, a yellow danger sign of the sort used to warn of water spillage instead reads: “Danger: Death by strangulation is an occupational hazard”. One could spend a long time here, examining each ceramic and listening to the “sermon” by the writer Mendez, author of the novel Rainbow Milk, about their past experiences as a sex worker.

The “graft” in the title of the show will mean “work or physical labour” to a British visitor. But “graft” in American English has evolved into something darker. The Columbia Journalism Review points out that: “Around 1865, the OED says, ‘graft’ in the US was ‘The obtaining of profit or advantage by dishonest or shady means’.” Much of Hard Graft could also fall under a US meaning of the word. Many abuses of power are depicted here. One of the most simple and effective is a display of architectural floor plans from South American villas. Daniela Ortiz shows how tiny the maids’ rooms are — little more than cupboards — when shown alongside the owners’ vast living spaces.

A surreal portrait of a woman with braided hair, wearing a dress adorned with intricate patterns, a tree-like form growing from her neck, and a small open coffin attached to her chest. The background features large leaf shapes in soft green hues
‘The warrior builds strength from all who came before’ (2023) by Charmaine Watkiss

Everything in this exhibition is far removed from “bullshit jobs”, as coined by the late David Graeber. These, broadly, are desk jobs where knowledge workers fill hours with the emails and instant messaging that, along with neverending meetings, make up the displacement activity done in lieu of meaningful work. Many of the contemporary workers depicted in Hard Graft make a difference in ways that most of us will never do.

I’ve no wish to undermine the seriousness of mental health conditions that affect far too many workers of all types, but this exhibition also reminds those of us who work behind desks that the toll of physical labour is paid with the body. It’s a reality embodied in “Washerwoman” (2018) by Shannon Alonzo. A woman is slumped, headless, over a tin bath of washing. Her dress is made from clothes pegs and her hands and feet are gnarled and calloused — it’s almost painful to look.

Three-dimensional multi-media artwork , made from cotton, wax, resin, wire and found objects. A woman is slumped, headless, over a tin bath of washing. Her dress is made from clothes pegs and her hands and feet are gnarled and calloused
‘Washerwoman’ (2018) by Shannon Alonzo, a mixed-media installation made from beeswax, resin, brown cotton, wire and wooden clothes pegs © Kibwe Brathwaite

On leaving the building, I reflected that I was five minutes’ walk from the thriving primary school where I serve on the governing body. Many of its pupils have parents working hard to survive on very low incomes in the centre of one of the most expensive cities on earth. The reality of hard labour deserves, and receives here, honour — and long overdue recognition.

To April 27, 2025, wellcomecollection.org

Isabel Berwick hosts the FT’s ‘Working It’ podcast and writes a weekly newsletter about the workplace and leadership. She is author of ‘The Future-Proof Career’

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Hyatt Studios pipeline reaches 4,000 rooms

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Hyatt Studios pipeline reaches 4,000 rooms

The first property under the midscale extended stay brand is expected to open in 2025

Continue reading Hyatt Studios pipeline reaches 4,000 rooms at Business Traveller.

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Chancellor Rachel Reeves ‘to ABANDON’ controversial pension tax raid in relief for hardworking teachers & nurses

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Chancellor Rachel Reeves 'to ABANDON' controversial pension tax raid in relief for hardworking teachers & nurses

LABOUR’s pension tax raid is set the ditched after warnings it would hammer up to a million teachers, nurses, and public sector workers.

Chancellor Rachel Reeves had planned to raise funds by reducing tax relief on those earning £50,000 or more per year.

Chancellor Rachel Reeves

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Chancellor Rachel ReevesCredit: Getty

But Treasury officials reportedly told her any move to cut the 40 per cent tax relief on pensions would unfairly punish state employees on modest incomes, like a nurse earning £50,000 who could face an extra tax bill of £1,000 a year.

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One Government insider blasted the idea as “madness,” especially after public sector workers just received a pay rise.

Former Pensions Minister Steve Webb told The Times: “I don’t think this is something that Reeves will want to do, not least because it will infuriate public sector unions just weeks after the government agreed pay settlements with them.”

Union leaders are also understood to have cautioned the Treasury against moving forward with the proposal.

Chair of the British Medical Association pensions committee Vishal Sharma said: “Attacking our pensions in this way would completely reverse this progress by once again taking money away from doctors in a different way.

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What was Labour’s pension tax raid?

CHANCELLOR Rachel Reeves was considering reducing pensions tax relief for those earning £50,000 or more annually.

Currently, people receive tax relief based on their income tax rate.

This means basic-rate taxpayers get 20 per cent relief, higher-rate taxpayers get 40 per cent, and additional-rate taxpayers get 45 per cent.

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Under the proposed change, high earners would have seen their tax relief reduced to a flat rate, likely lower than 40 per cent or 45 per cent.

But the reduction in tax relief would have meant that higher earners might contribute less to their pensions, as the incentive to save more would be diminished.

“‘Not only would this negate the recent hard-won pay rises but it would likely reignite the recent pay disputes that have been seen across the NHS.”

The plan has been compared to Labour’s earlier disaster of a proposal to bring back a lifetime cap on pension savings, which was ditched during the election campaign after backlash over its impact on junior doctors.

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With Labour still desperate to plug a £22 billion hole in the public finances, Treasury officials are now hunting for other ways to rake in cash.

The Government has repeatedly cautioned the Budget on October 30 will involve “difficult decisions” on tax and spending.

A range of options for generating tax revenue have been touted, including increasing capital gains tax.

CGT is a tax on the profit made when you sell or dispose of an asset, like property or shares, for more than you paid for it.

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You only pay tax on the gain, not the total amount received from the sale.

There may also be a temptation to make changes to inheritance tax to target the most wealthy.

Predictions for the Autumn Statement

The Sun’s Head of Consumer Tara Evans reveals the top predictions for the Autumn Statement:

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Winter Fuel Payments

Chancellor Rachel Reeves has already announced that Winter Fuel Payments will be limited to those receiving pension credit and certain benefits. The benefit is worth up to £300 per year and currently is available to everyone over state pension age and those on certain benefits.

No rises to some taxes

Keir Starmer promised there would be no rises to National Insurance, Income Tax, Corporation Tax or VAT as part of Labour’s manifesto in the election race.

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Inheritance Tax

It has been predicted that the Chancellor Racheal Reeves will make changes to inheritance tax rates or thresholds. One suggestion is the potential shortening of the gift period before death for tax exemptions.

Pensions

Pensions featured very high up in the King’s Speech, was this a hint at how high on the agenda it will feature in the budget? Experts say there are a number of options, including reintroducing the lifetime allowance cap. Ms Reeves has previously campaigned to reduce the tax relief that higher earners get on their pensions and to  introduce a flat rate of 33% instead. Another possible option is changing the rules around pensions and inheritance tax.

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Capital Gains Tax (CGT)

There is speculation that the £3,000 tax-free allowance could be scrapped or there may be an extension of CGT to other assets.

Business Rates

There are rumours of reforms to support small businesses, possibly basing rates on land value.

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Fuel Duty

Possible rise in fuel duty, reversing the freeze since 2011 and impacting household costs. The Sun has backed drivers as part of its Keep It Down campaign since the start of 2011.

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Two killed in huge explosion near major Pakistan airport as rebels target ‘foreign investors’ in horror bomb attack

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Two killed in huge explosion near major Pakistan airport as rebels target 'foreign investors' in horror bomb attack

TWO people were killed in a massive blast near a major airport in Pakistan after rebels targeted ‘foreign investors’ in a bomb attack.

The Baloch Liberation Army claimed responsibility for the deadly attack that targeted a convoy with Chinese nationals in the port city of Karachi.

The huge explosion near Karachi airport left two dead

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The huge explosion near Karachi airport left two deadCredit: AFP
At least ten people have been injured in the attack

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At least ten people have been injured in the attackCredit: AFP
Security officials inspect the scene of a blast outside the Jinnah International Airport

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Security officials inspect the scene of a blast outside the Jinnah International AirportCredit: EPA

At least ten people have been injured in the Sunday night explosion that the Chinese embassy in Pakistan branded a “terrorist attack” targeting Chinese engineers working on a power project.

Horrific footage shows cars engulfed in flames as thick black smoke rises.

The attack came a week before Pakistan is to host a summit of the Shanghai Cooperation Organization, a security grouping founded by China and Russia to counter Western alliances.

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The spokesman for the separatist group, Junaid Baloch, said that one of their suicide bombers targeted the convoy of Chinese engineers and investors as they left the airport.

The Baloch Liberation Army is mainly based in the restive southwestern Balochistan province but it has also attacked foreigners and security forces in other parts of Pakistan in recent years.

The Chinese embassy said a convoy from the Port Qasim Electric Power Company was attacked near the airport.

“The Chinese Embassy and Consulates General in Pakistan strongly condemn this terrorist attack, express deep condolences to the innocent victims of both countries and sincere sympathies to the injured and (their) families,” the statement said, adding the Chinese side has been working with Pakistani authorities in the aftermath.

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Pakistan’s Prime Minister Shehbaz Sharif said a Chinese national was also injured and that an investigation was underway.

“Pakistan stands committed to safeguarding our Chinese friends,” he said in a statement on X.

“We will leave no stone unturned to ensure their security and well-being.”

Pakistan’s Prime Minister Shehbaz Sharif said he was shocked and saddened by the attack.

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He said the attackers were enemies of Pakistan and promised the perpetrators would be punished.

“I strongly condemn this heinous act and offer my heartfelt condolences to the Chinese leadership & the people of China, particularly the families of the victims,” he wrote on the social media platform X.

Pakistan stands committed to safeguarding our Chinese friends,” he added. “We will leave no stone unturned to ensure their security & well-being.

The Sunday night attack followed deadly attacks in August that killed more than 50 people in Balochistan.

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Sharif at the time said the attackers sought to harm Chinese-funded development projects.

In March, in northwestern Pakistan, a suicide bombing killed five Chinese engineers and their Pakistani driver as they headed to the Dasu Dam, the country’s biggest hydropower project.

The rebels targeted Chinese engineers working on a power project

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The rebels targeted Chinese engineers working on a power projectCredit: EPA
The bombing happened on Sunday night in Karachi

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The bombing happened on Sunday night in KarachiCredit: AP

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Southern Water seeks to borrow nearly £4bn from investors

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Southern Water, the heavily indebted utility controlled by Macquarie, has turned to investors for nearly £4bn in borrowings over the next five years at a time when water companies are under increasing pressure in debt markets because of the crisis at Thames Water.

Thames Water, which itself was formerly owned by Macquarie, was last week downgraded to the lowest reaches of junk because of its dwindling cash position, increasing further scrutiny on other utilities in the sector with strained finances.

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While Southern is not in the same degree of financial peril as Thames Water, its investment-grade rating and its debt covenants have both come under pressure as the group’s total debts have exceeded £6bn, according to its most recent group accounts. Of that total, liabilities related to derivatives have ballooned past £1bn.

The yield on Southern’s short-dated bonds, due in 2026, has more than doubled over the past six months to reach 13.5 per cent, as investors now require a hefty premium to hold debt that would usually offer far smaller returns due to its near maturity.

The water monopoly, which serves 4.7mn customers in the south-east of England, met bond investors in recent days to update them on its credit situation and business plan.

A Southern Water company employee repairing a road surface
Southern Water staff in Hampshire. The company’s investor presentation shows it is asking Ofwat to allow it to raise customers’ annual water bills to £734 by the end of the next regulatory period © UCG/Getty Images

In a presentation to debt investors published on its website, it revealed it planned to raise £3.8bn of debt over the next five years, telling them it had a “proven track record of capital raising”, having raised £550mn of fresh equity from Macquarie in the last financial year.

The utility also needs to raise £650mn in equity as pressures mount on its credit ratings and operating business, which is struggling with sewage pollution and potential water shortages.

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The investor presentation comes after Moody’s in July put Southern’s credit rating on review for downgrade, putting it at risk of losing its investment-grade status with one of the major agencies.

Despite Macquarie having already injected hundreds of millions of pounds, “there is no certainty that it would make further contributions if the final determination makes continued low returns likely”, Moody’s said.

Southern’s chief financial officer Stuart Ledger said at the time of the downgrade that the utility had “an excellent liquidity position”.

However, in August 2023, the company’s lenders had to waive a loan covenant breach after its credit ratings and its interest coverage ratio, a measure of a company’s ability to pay its debt, fell below key thresholds.

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Lenders agreed to waive these conditions until 2035, meaning Southern can continue to draw down all of its available borrowing facilities and raise new financing, while also allowing the utility to increase the limit on its gearing — a critical measure of debt-to-equity — from 74 to 75 per cent.

Within Southern’s complex structure, the regulated operating company, a “ringfenced” group that is supposed to be protected from stress at the holding companies above, is nevertheless running with gearing of about 70 per cent.

Diagram show Southern Water’s overall debt structure

While lower than Thames Water’s gearing of about 80 per cent, the £4.7bn debt pile at Southern’s operating company, which makes up the group’s reported debt-to-equity ratio, leaves out almost £1.2bn of liabilities relating to its inflation-linked swaps.

These are not reported in the utility’s regulatory numbers, but if included, they would take the company’s gearing level to more than 85 per cent. Were the company’s creditors to demand a payment acceleration upon a default, Southern Water’s inflation-linked swaps would rank ahead of principal and interest on its senior debt.

The presentation also shows that Southern is asking water regulator Ofwat to allow it to increase the average annual household water bill to £734 by the end of the next regulatory period, higher than Thames Water and three other water companies cited as comparisons.

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Thames Water, which saw investors backtrack on a commitment to provide £500mn of equity in March, became the first regulated water utility to lose its investment-grade rating when both Moody’s and S&P cut its credit rating.

While an equity injection at Southern Water from Macquarie could ease pressure on its operating company, its holding company also has £300mn of debt maturing next year. Representatives of Macquarie told investors at the meeting that it might need to negotiate an extension on this debt, according to one person who attended.

Thames Water’s holding company Kemble, which itself was established by Macquarie during its 2006 buyout of London’s water company, defaulted on its own debt in April, after its present shareholders backtracked on a pledge to put in fresh equity into the business.

Southern Water said the group had strong liquidity and was working towards a positive regulatory settlement. Macquarie declined to comment.

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