A mortgage guarantee scheme to help people with small deposits get on the property ladder is set to be announced at next week's Budget.
The government will offer incentives to lenders, bringing back 95% mortgages which have "virtually disappeared" during the pandemic, the Treasury says.
Chancellor Rishi Sunak says public finances are facing a "challenge" from the pandemic's impact on the economy.
The government has borrowed £271bn this financial year - up £222bn on 2019-20.
This has pushed the national debt to £2.13 trillion.
Explaining the government's economic response to the pandemic, Mr Sunak told the Financial Times: "We went big, we went early, but there is more to come and there will be more to come in the Budget. But there is a challenge [in the public finances] and I want to level with people about the challenge."
He added: "I will do whatever it takes to protect the British people through this crisis and I remain committed to that."
Former Conservative chancellor Lord Clarke called for Mr Sunak to raise taxes in order to bring the UK's finances under control, and warned "if we don't get it under control before inflation comes back then we will face a financial crisis".
The question of tax rises is one the chancellor will need to address when he unveils his Budget in a Commons speech on Wednesday.
In the run-up to the 2019 election, the Conservatives promised not to increase income tax, National Insurance Contributions or VAT - but Mr Sunak could argue circumstances have changed.
Carlisle MP John Stevenson, of the Conservative Northern Research Group, said it was "too early" for tax rises, saying UK still had a few months of the pandemic to get through and he wanted to see continuing support.
But Lord Clarke said the pandemic had been "unfair financially" on "the poor, the young, the low-paid, the vulnerable" and suggested making people who continue in full-time work after the age of 65 pay the same taxes as younger people.
Labour has criticised the government for a "stop, start" approach to support measures during the pandemic. Shadow chancellor Anneliese Dodds told the Times her party did not support an "immediate" increase in corporation tax but would welcome longer-term rises and said she wanted a "more progressive tax system".
It will include a new "flexi-job" apprenticeship, enabling apprentices to work with different employers in one sector. With unemployment at its highest level for almost five years, Mr Sunak said this was "vital" support for getting people back into work.
Mortgage providers will only lend to those with a regular income, irrespective of any government incentive.
But young adults' finances, and their employment prospects, have been hit hard by this pandemic. It was the same in the financial crisis of a decade ago.
That is why jobs will be central to this Budget - both protecting them now and creating them in the future to aid an economic recovery.
While the chancellor may be able to borrow fairly cheaply now to pay for that support, the prospect of future tax rises to foot the bill will no doubt be addressed too.
Covid has led everyone to face the realities of home, work, and working from home. On Wednesday, many will be looking to Mr Sunak to save their jobs and keep a roof over their heads - whether they own it, or not.
The new mortgage scheme is not restricted to first-time buyers or new-build homes, but there will be a £600,000 limit.
The coronavirus pandemic has meant there are now few low-deposit mortgages available, the Treasury said, with just eight on the market in January.
They are often seen as riskier by banks as they are more vulnerable to negative changes in property prices - meaning people hold more debt than their home is worth.
Under the scheme, which will launch across the UK in April, the government will offer to take on some of this risk.
Getty Images
It is based on the Help to Buy mortgage guarantee scheme, which closed to new loans at the end of 2016, a policy the Treasury said "reinvigorated the market for high loan-to-value lending after the 2008 financial crisis".
Shadow housing secretary Thangam Debbonaire also raised concerns, saying young people needed "genuinely affordable" new houses to be built and did not want to go "back to the days of sky-high mortgages".
The new scheme could coincide with the expected end of a stamp duty holiday in England and Northern Ireland on 31 March - though this may yet be extended.
Next week's announcement is also expected to include a new £100m taskforce to crack down on fraudsters who have exploited support schemes, such as furlough.
Tax officials have opened about 10,000 inquiries into suspected fraudulent activity, the government said.
If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission.
Having left the family home just after 11:25 GMT, the hearse carrying the man who became a national hero and was knighted by the Queen arrived at Bedford crematorium 15 minutes before the private family ceremony at noon.
The funeral is being attended by Captain Sir Tom's two daughters, Lucy Teixeira and Hannah Ingram-Moore, four grandchildren and his sons-in-law.
Members of the Yorkshire Regiment are providing a military guard for the ceremony.
In the skies overhead, a C-47 Dakota, part of the Battle of Britain Memorial Flight, soared past in tribute to the man whose charity efforts inspired people across the UK.
His family had said that although Covid guidelines meant only eight relatives attended, it would be a "spectacular" event.
PA Media
A bugler will sound The Last Post when the service concludes, and St Mary's Church in Marston Moretaine, Captain Sir Tom's home village, will lead others across the country in ringing their bells 100 times at 12:00 GMT.
A post on his Twitter page read: "So even if tomorrow is my last day, if all those I loved are waiting for me then that tomorrow will be a good day too" while the Yorkshire Regiment posted it was "proud" to be representing the British Army at the funeral.
They said it was a "solemn, dignified and fitting tribute to a man who inspired millions".
Lucy Teixeira
Singer Michael Buble has recorded a version of the song Smile to be played during the service.
My Way by Frank Sinatra will be heard at the end, as requested by Capt Sir Tom, who said he liked the line about "having too few regrets to mention".
The charity single he recorded with Michael Ball, You'll Never Walk Alone, will also be featured, along with The White Cliffs Of Dover by Dame Vera Lynn and I Vow To Thee My Country by Alfie Boe.
Final resting place
The veteran had spent the last few months of his life writing a book which he had planned to publish just before his 101st birthday.
A section was released, in which he said he would "like to watch my own funeral from a distance" and laugh at "everyone making a lot of fuss over me".
"I want the service to end with My Way by Frank Sinatra because I always did things my way and I especially like the line about having too few regrets to mention," he wrote.
Captain Sir Tom was originally from Keighley near Bradford, and his family said that once Covid-19 restrictions allow, his ashes will be interred in Yorkshire, where he will rest with his parents and grandparents in the Moore family plot.
Getty Images
Reuters
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A mortgage guarantee scheme to help people with small deposits get on the property ladder is set to be announced at next week's Budget.
The government will offer incentives to lenders, bringing back 95% mortgages which have "virtually disappeared" during the pandemic, the Treasury says.
Chancellor Rishi Sunak says he will use the Budget to level with people about the pandemic's impact on the economy.
Government borrowing has reached £271bn for the financial year.
That is £222bn more than a year ago and has pushed the national debt to £2.13 trillion.
Explaining the government's economic response to the pandemic, Mr Sunak told the Financial Times: "We went big, we went early, but there is more to come and there will be more to come in the Budget. But there is a challenge [in the public finances] and I want to level with people about the challenge."
He added: "I will do whatever it takes to protect the British people through this crisis and I remain committed to that."
Labour has criticised the government for a "stop, start" approach to support measures during the pandemic.
It will include a new "flexi-job" apprenticeship, enabling apprentices to work with different employers in one sector. With unemployment at its highest level for almost five years, Mr Sunak said this was "vital" support for getting people back into work.
When the chancellor unveils his Budget in a Commons speech on Wednesday he will also have to announce whether he will raise taxes in light of pandemic spending.
In the run-up to the 2019 election, the Conservatives promised not to increase income tax, National Insurance Contributions or VAT - but Mr Sunak could argue circumstances have changed.
Carlisle MP John Stevenson, of the Conservative Northern Research Group, said it was "too early" for tax rises, saying UK still had a few months of the pandemic to get though and he wanted to see continuing support.
But former Conservative chancellor Lord Clarke said he expected taxes to be raised.
He said spending to stop the economy collapsing meant debt was piling up and "if we don't get it under control before inflation comes back then we will face a financial crisis".
Lord Clarke said the pandemic had been "unfair financially" on "the poor, the young, the low-paid, the vulnerable" and suggested making people who continue in full-time work after the age of 65 pay the same taxes as younger people.
Shadow chancellor Anneliese Dodds told the Times the Conservatives' approach to furlough and other economic support measures showed "a failure of confidence" and had "led to greater negative economic impact", resulting in job losses.
Getty Images
The new mortgage scheme is not restricted to first-time buyers or new-build homes, but there will be a £600,000 limit.
The coronavirus pandemic has meant there are now few low-deposit mortgages available, the Treasury said, with just eight on the market in January.
They are often seen as riskier by banks as they are more vulnerable to negative changes in property prices - meaning people hold more debt than their home is worth.
Under the scheme, which will launch across the UK in April, the government will offer to take on some of this risk.
Mortgage providers will only lend to those with a regular income, irrespective of any government incentive.
But young adults' finances, and their employment prospects, have been hit hard by this pandemic. It was the same in the financial crisis of a decade ago.
That is why jobs will be central to this Budget - both protecting them now and creating them in the future to aid an economic recovery.
While the chancellor may be able to borrow fairly cheaply now to pay for that support, the prospect of future tax rises to foot the bill will no doubt be addressed too.
Covid has led everyone to face the realities of home, work, and working from home. On Wednesday, many will be looking to Mr Sunak to save their jobs and keep a roof over their heads - whether they own it, or not.
It is based on the Help to Buy mortgage guarantee scheme, which closed to new loans at the end of 2016, a policy the Treasury said "reinvigorated the market for high loan-to-value lending after the 2008 financial crisis".
The new scheme could coincide with the expected end of a stamp duty holiday in England and Northern Ireland on 31 March - though this may yet be extended.
Next week's announcement is also expected to include a new £100m taskforce to crack down on fraudsters who have exploited support schemes, such as furlough.
Tax officials have opened about 10,000 inquiries into suspected fraudulent activity, the government said.
If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission.
A mortgage guarantee scheme to help people with small deposits get on the property ladder is set to be announced at next week's Budget.
The government will offer incentives to lenders, bringing back 95% mortgages which have "virtually disappeared" during the pandemic, the Treasury says.
Chancellor Rishi Sunak says he will use the Budget to level with people about the pandemic's impact on the economy.
Amid the crisis, government borrowing reached £271bn for the financial year.
That is £222bn more than a year ago and has pushed the national debt to £2.13 trillion.
Explaining the government's economic response to the pandemic, Mr Sunak told the Financial Times: "We went big, we went early, but there is more to come and there will be more to come in the Budget. But there is a challenge [in the public finances] and I want to level with people about the challenge."
He added: "I will do whatever it takes to protect the British people through this crisis and I remain committed to that."
Labour has criticised the government for a "stop, start" approach to support measures during the pandemic.
It will include a new "flexi-job" apprenticeship, enabling apprentices to work with different employers in one sector. With unemployment at its highest level for almost five years, Mr Sunak said this was "vital" support for getting people back into work.
The chancellor will unveil his Budget in a Commons speech on Wednesday
On the mortgage scheme Prime Minister Boris Johnson said he wanted "generation rent" to become "generation buy".
Getty Images
The coronavirus pandemic has meant there are now few low-deposit mortgages available, the Treasury said, with just eight on the market in January.
They are often seen as riskier by banks as they are more vulnerable to negative changes in property prices - meaning people hold more debt than their home is worth.
Under the scheme, which will launch across the UK in April, the government will offer to take on some of this risk.
It is not restricted to first-time buyers or new-build homes, but there will be a £600,000 limit.
Mortgage providers will only lend to those with a regular income, irrespective of any government incentive.
But young adults' finances, and their employment prospects, have been hit hard by this pandemic. It was the same in the financial crisis of a decade ago.
That is why jobs will be central to this Budget - both protecting them now and creating them in the future to aid an economic recovery.
While the chancellor may be able to borrow fairly cheaply now to pay for that support, the prospect of future tax rises to foot the bill will no doubt be addressed too.
Covid has led everyone to face the realities of home, work, and working from home. On Wednesday, many will be looking to Mr Sunak to save their jobs and keep a roof over their heads - whether they own it, or not.
It is based on the Help to Buy mortgage guarantee scheme, which was introduced under David Cameron's government in 2013 and closed to new loans at the end of 2016.
The Treasury said that policy "reinvigorated the market for high loan-to-value lending after the 2008 financial crisis" and enabled 100,000 households to buy a property across the UK.
The Help to Buy mortgage guarantee scheme was distinct from the Help to Buy equity loan scheme that still allows first-time buyers in England to take out a government loan to put towards the cost of buying a newly-built home.
The new scheme could coincide with the end of a stamp duty holiday in England and Northern Ireland, which is due to end on 31 March, though this may yet be extended.
'Too early'
Mr Sunak also has to decide whether to raise taxes in light of pandemic spending.
In the run-up to the 2019 election, the Conservatives promised not to increase income tax, National Insurance Contributions or VAT - but the chancellor could argue circumstances have changed.
Carlisle MP John Stevenson, a member of the Conservative Northern Research Group, said it was "too early" for tax rises, saying the country had "still got a few months to go" of the pandemic so he wanted to see continuing support.
But former Conservative chancellor Lord Clarke said he expected taxes to be raised in the Budget.
He said the spending to stop the economy collapsing meant debt was piling up and "if we don't get it under control before inflation comes back then we will face a financial crisis".
Lord Clarke said the pandemic had been "unfair financially" on "the poor, the young, the low-paid, the vulnerable" and suggested making people who continue in full-time work after the age of 65 pay the same taxes as younger people.
Shadow chancellor Anneliese Dodds told the Times the Conservatives' approach to furlough and other economic support measures showed "a failure of confidence" and had "led to greater negative economic impact", resulting in job losses.
Next week's announcement is also expected to include a new £100m taskforce to crack down on fraudsters who have exploited support schemes, such as furlough.
Tax officials have opened about 10,000 inquiries into suspected fraudulent activity, the government said.
If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission.
Brexit: Lia Nici slams EU export process at borders
UK and EU negotiators will kick-start a fresh round of negotiations on Monday to find a resolution to the ongoing situation in Northern Ireland. The implementation of the Northern Ireland Protocol has thrown up huge difficulties for both sides since the UK formally left the bloc in January.
Related articles
The mechanism tied Northern Ireland to the EU single market and customs union in order to prevent a hard border on the island of Ireland – but has resulted in trade being disrupted and additional checks on goods moving across Great Britain.
Lord Frost, who led Brexit negotiations, has been appointed as a full member of the Boris Johnson Cabinet and will take control of talks.
Lord Frost took a tough stance against the bloc throughout the Brexit trade talks and refused to cave in on the UK’s demands to take back control of its money, laws and borders.
Ahead of the talks, one EU diplomat accused Lord Frost of being confrontational – a claim dismissed by the UK Government.
Lord Frost will lead Brexit talks with the EU next week (Image: GETTY)
Trade between Northern Ireland and the rest of the UK has been disrupted (Image: GETTY)
An EU diplomat told The Daily Telegraph: "The EU and UK relationship is in dire need of more consensus. Unfortunately, Lord Frost is, so far, better known for confrontation.
"Putting the relationship on ice is not an option. Britain and the continent are too close, too interlinked and there's too much going on affecting both sides of the English Channel."
Britain then hit back and called out the EU over its record since the UK left the bloc.
A UK Government source said: "Based on evidence so far this year, the EU's efforts can hardly be described as having promoted harmony."
Lord Frost has been appointed as a full time member of the Cabinet (Image: GETTY)
Relations between the UK and EU hit a new low last month after the European Commission briefly triggered emergency legislation in the Northern Ireland Protocol to prevent exports of coronavirus vaccine to the UK.
Officials in Brussels had hoped to put the past behind and “reset” the relationship ahead of the latest round of discussions.
An EU official said: "This would be a nice thing to happen but we are not holding our breath. The timeline sounds about right. I'm not so sure if a 'reset' is possible, but I think it's admirable that we're at least trying."
Five key moments that led to Brexit (Image: EXPRESS)
Britain is seeking a two-year extension to the existing grace periods on checks on goods in order to give firms more time to adjust, but the bloc wants the Northern Ireland Protocol fully implemented beforehand.
A UK Government spokeswoman said the EU trade deal "will build on our shared history of friendship and cooperation, but as sovereign equals, with greater democratic autonomy and a clear, independent voice to speak and act on our priorities".
Nicola Sturgeon’s independence dreams have been shattered after a damning new report found an independent Scotland could put more than 60 percent of exports at risk.
A report by Facts4EU.Org highlighted more than 60 percent of Scotland’s trade is conducted with the rest of the UK.
The summary findings, based on reports published by the SNP Government, found such sales are worth £51.2billion to the Scottish economy.
The figures show trade between Scotland and the rest of the UK is 20 times greater than transactions between Scotland and Germany – the EU’s largest economy.
The European Union used Nicola Sturgeon's Scottish independence bid in order to destabilise Brexit Britain after the 2016 EU referendum, MEPs have told Express.co.uk.
In an exclusive interview with Express.co.uk, Italian MEP Marco Campomenosi said: "With Scottish independence, Brussels has shown the greatest possible hypocrisy.
"During the withdrawal agreement talks, the former President of the European Commission Jean-Claude Juncker was courting the Scottish nationalists, making them believe they were welcome in the EU.
"It was only done to destabilise the UK Government.
"Brussels could have not had the same attitude towards the Catalans because Spain strongly supports the European Commission.
"The hypocrisy would have been so evident that Brussels had to stop engaging with Sturgeon."
Boris Johnson has been criticised over fishing (Image: GETTY)
Boris Johnson’s post-Brexit trade deal with the European Union has been slammed as "awful" for setting UK coastal communities up for a "culture of failure".
Former Brexit Party MEP June Mummery told Express.co.uk that Boris Johnson's Brexit negotiating team was not prepared and should have listened to industries that directly affected by the terms such as the fishing sector.
She added that there is a culture of failure for Britain's coastal communities.
Ms Mummery said: "We totally failed, we were not prepared. I still believe that the reason Boris did this awful deal is because we were not prepared.
"I don't think anything was done, I was flagging this up continuously.
"It shows the inability at the very highest level, they did not foresee and listen to the industries that were concerned.”
8.15am update: DUP minister stops construction of post-Brexit checkpoint facilities in Northern Ireland
Northern Ireland's Agriculture Minister has halted construction of permanent inspection facilities for post-Brexit checks on agri-food goods arriving from Great Britain.
DUP minister Gordon Lyons has also stopped further recruitment of inspection staff for the port facilities and said charges would not be levied at the ports on traders bringing goods from GB into Northern Ireland.
Mr Lyons's decision relates to ongoing work on new purpose-built inspection facilities at ports like Belfast and Larne.
He said: "I've just let executive colleagues know that today I instructed my department to halt work on a range of issues relating to work at the ports.
"This is in and around a number of areas, first of all further infrastructure, any further infrastructure builds; the additional recruitment of staff; and also the charging at the ports."
The decisions come amid the ongoing controversy over disruption caused by the Northern Ireland Protocol, which governs Irish Sea trade post-Brexit.
