Afternoon.

It’s Tuesday 27th October: the government has announced changes for unpaid carers, Israel is voting on Benjamin Netanyahu's future and Harry Kane has been crowned the world's best footballer.

Kettle on.

📅 On this day: In 1986, London's financial markets underwent a major shake-up known as the Big Bang. New rules swept away traditional stockbroking practices, opened the market to greater competition and helped accelerate the shift towards electronic trading.

The government has announced changes to Carer's Allowance, parental pay and several everyday costs ahead of tomorrow's Budget.

Under the current rules, people receiving Carer's Allowance can lose their entire payment if they earn even a penny above the weekly limit. That has left some people facing demands to repay thousands of pounds after unknowingly exceeding the threshold.

The government plans to replace this cliff edge with a gradual reduction, meaning carers would lose £1 of support for every additional £1 they earn above the limit. It's a significant change, although the new system won't take effect immediately.

The package will also extend parental pay to more than 150,000 additional parents each year, including self-employed fathers and partners. Eligible parents would receive two weeks of support worth up to £194 a week at current rates. The government also plans to remove import tariffs on more than 100 products, including chocolate and baked beans, estimating that its tariff changes could save households up to £21 a year on food.

Israelis are voting today in their first national election since the Hamas-led attacks of October 2023 and the wars that followed. Prime Minister Benjamin Netanyahu is fighting to remain in power, with former military chief Gadi Eisenkot among his main challengers.

The campaign has been dominated by national security, the government's handling of the 2023 attacks and disagreements over military service. Netanyahu's opponents accuse him of failing to take responsibility for security failures, while his supporters argue that his leadership is needed to protect Israel.

Israelis don't directly elect their prime minister. They vote for parties, which must then work together to secure a majority in the 120-seat parliament, known as the Knesset. That means even the party winning the most seats isn't guaranteed to lead the next government.

Polls suggest a close contest, with neither side assured of a majority. Voting closes this evening, and the result could take days to become clear. Whoever wins will face difficult decisions about Gaza, regional security and Israel's relationships abroad.

Shop prices are rising at their fastest rate since February 2024, according to the British Retail Consortium. Prices were 2.1% higher in October than a year earlier, up from 1.4% in September.

Food prices rose by 2.9%, while non-food inflation reached 1.7%. Retailers say they've been absorbing higher energy, transport and employment costs but are increasingly passing them on to shoppers. Prices aren't rising as dramatically as during the worst of the inflation crisis, but the weekly shop is still getting more expensive.

Poundland is reportedly edging closer to collapse, putting thousands of jobs at risk. Three recently appointed directors are preparing to resign following a disagreement with the discount chain's owner over a proposed rescue deal.

The retailer, which has around 600 stores across the UK and Ireland, is up for sale. Its owner has reportedly rejected an offer that would have kept the business solvent, increasing the likelihood of administration, a process used when a company cannot pay its debts. A rescue deal is still possible, but Poundland's future remains uncertain.

New Respect Orders have come into force in England and Wales, giving courts additional powers to tackle persistent antisocial behaviour by adults.

The orders can ban offenders from particular areas or activities and require them to attend treatment or other programmes. Breaching an order is a criminal offence carrying a potential prison sentence of up to two years. The aim is to deal with repeat offenders whose behaviour causes ongoing problems for local communities.

Harry Kane has won the Ballon d'Or, becoming the first Englishman to claim football's most prestigious individual award in 25 years.

The England captain scored an extraordinary 73 goals for Bayern Munich and England last season, helping Bayern complete a domestic treble.

Kane beat Kylian Mbappé and Lamine Yamal to the award, becoming only the fifth Englishman to win it. The last was Michael Owen in 2001.

Not bad for a player who spent his early career being loaned out to Leyton Orient, Millwall, Norwich and Leicester.

Have a great afternoon.

See you tomorrow.

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