Thursday evening news briefing: UK 'only understands force', says France

Evening briefing: Today's essential headlines

Fishing row | The British only "understand the language of force", France's Europe minister said today following the seizure by French authorities of a British fishing boat - pictured above at the port of Le Havre, in Normandy. Clement Beaune promised to take a zero tolerance approach against the UK in the escalating dispute over post-Brexit fishing rights. In his analysis, Europe Editor James Crisp says Emmanuel Macron is holding Northern Ireland talks hostage.

• UK weather | Major flooding incident declared as town evacuated

• Extinction Rebellion | Olympians join oil refinery break-in protest

• Travel | Government announces final countries to be removed from red list

• Angela Rayner | Man spared jail over email to Labour deputy leader

• 'Deal with a demon' | Teenager murdered two sisters following 'pact'

The big story: Mortgage rates raised after Budget

It is often only the day after the Budget - once the details have been digested and the numbers crunched - that the true picture emerges.

And so it is today, as experts warn that a £3,000 rise in tax bills for every household by the mid-2020s will herald an end to the era of low tax conservatism in Britain.

After Rishi Sunak's big-spending statement took Britain's tax burden to its highest since the 1950s, the Resolution Foundation think tank said it suggests the UK is moving towards a "high tax, big state economy".

As Economics Editor Russell Lynch explains, pressures are mounting on battered public finances from Covid and an ageing population.

It came as the Institute for Fiscal Studies accused Mr Sunak of using the pandemic as "cover" for a huge increase in spending. Our comprehensive Budget guide explains the key changes at a glance.

Meanwhile, it did not take long for banks to push up the cost of mortgages after the Budget failed to alleviate the financial pressures facing homeowners.

A slew of high street lenders have announced mortgage rate increases in the last 24 hours. It follows a warning from the Office for Budget Responsibility that it expects repayments to increase to heights not seen since the housing crash in 2008.

This graph shows how mortgage interest payments are forecast to grow by 2023.

Middle classes 'failed'

There was little in Mr Sunak's statement to ease the strain on the middle classes. Inflation is forecast to hit 4.4pc, while disposable incomes are expected to rise by just 0.8pc over the next five years. The rising cost of living is likely to fuel interest rate rises, which could add hundreds to mortgage costs. Town halls were given permission to raise council tax by as much as 3pc. And it comes on top of the £12bn-a-year National Insurance raid to come into effect from April. Telegraph Money spoke to families, landlords and small business owners braced for a squeeze.

'We're paying the price'

As with all Budgets, there were winners and losers (see which measures will make you richer - and poorer here). "What is the point in striving to get ahead?" asked Telegraph reader John Kavanagh. "Where is the fiscal responsibility that Tory governments are supposed to embrace? We are now paying the price!" Read on for more of what your fellow readers had to say - and share your thoughts in the comments section.

Comment and analysis:

• Ambrose Evans-Pritchard | Why is China still building coal plants?

• Tom Stevenson | Polluting stocks may be coming back into fashion

• Ben Marlow | British travellers are winners from attack on Eurostar

• Mark Hix | Can we charge £10 for a coffee to pay higher wages?

• Michael Vaughan | No cricketer should be forced to take the knee

Around the world: From royalty… to studio apartment

Mako Komuro, known until this week as Princess Mako of Japan, is reportedly set to move into a rented studio apartment in New York with her new husband after losing her royal status. The couple announced plans to quit Japan after a financial scandal involving the groom's mother caused a public backlash. As Julian Ryall reports from Tokyo, the accommodation would be very different from the grounds of the luxurious Akasaka Estate where the former princess, 30, grew up.

Thursday interview: Les Dennis - 'Whatever you do, don't call me a revelation'

HMS Pinafore is a long way from Family Fortunes - but, as Les Dennis reminds Jasper Rees, he has been singing for years. Read the interview.

Sport briefing: Raducanu back to straight-sets winning

Emma Raducanu put on a clinical performance to get back to her straight-set winning ways and progress to the quarter-finals of the Transylvania Open. The US Open champion showed little mercy to Romania's Ana Bogdan this afternoon to record her second win since New York. Meanwhile, Phil Tufnell - who has written a book about his life both inside and outside of cricket - has given an exclusive interview to Tom Cary about his departure from Question of Sport.

Editor's choice

1. Motoring | Inside the £320,000 'post opulent' Rolls-Royce Ghost Black Badge limousine

2. Long Covid | 'I didn't think I'd ever feel normal, but oxygen therapy changed everything'

3. Unapologetically glamorous | The story behind Sharon Stone's glam-over at 63

Business briefing: Tesco enters 10-min delivery battle

First, the energy crisis. Gas and power prices fell today after Vladimir Putin ordered Russian state gas supplier Gazprom to pump more gas into EU storages. Closer to home, Tesco is joining forces with a 10-minute grocery delivery service as the online grocery battle continues to escalate. Britain's biggest supermarket chain has started a pilot with Gorillas from its store in Thornton Heath, south London. Laura Onita explains how the orders can be packed and delivered so rapidly.

Tonight starts now

The first-ever live breast check takes place this evening on Twitter. Breast Cancer Now has joined forces with the platform to launch its #TouchLookCheck campaign during Breast Cancer Awareness Month to encourage people to regularly check their breasts and chests for any new or unusual changes. New research from Breast Cancer Now found that more than a third of British women do not check their breasts regularly.

Three things for you

• Watch | Shop Well for the Planet? BBC One, 8pm - and more

• Listen | Planet Normal with Ben Wright: The Big Budget Breakdown

• Fantasy Fund Manager | Sign up for 10 chances to win £15k

And finally... for this evening's downtime

Cinema's new Cold War | James Bond is going head-to-head with a propagandistic blockbuster. At stake is the world's biggest market, but are consumers happy? Christopher Harding examines to what extent Hollywood is at the mercy of China.