According to the Telegraph this morning,Interest rates to hit lowest level since 1694

The Bank of England faces cutting borrowing costs to beneath 2 per cent - or even as low as 1 per cent - within months as it battles to protect Britain from the financial crisis and the worst recession in decades, economists said.

the paper adds that

The rate cut would be good news for borrowers, who have faced sharp increases in their mortgage rates as embattled banks have raised the cost of borrowing in recent months

And low prices are on the front of the Times which reports that

Petrol and energy suppliers came under fire from ministers yesterday in an attempt to shame them into cutting pump prices and household bills.
Emboldened by international praise for tackling the banking crisis, Gordon Brown accused petrol retailers of charging too much and told them to follow the lead of Asda and Morrisons in bringing prices below £1 a litre

The Express continues the trend

Gas and electricity bills will be cut after the Government ordered firms to pass on the fall in wholesale oil prices.
Costs could come down by the New Year after Energy Minister Mike O’Brien yesterday told suppliers to act as soon as possible.

Whilst declaring that

People’s willingness to spend, spend, spend even if it was on a bargain or two was evident yesterday as chaos erupted during a frenzied day of sales.
Shoppers started fighting during the opening of the country’s biggest electrical store as they scrambled to snap up huge cut-price deals.

More caution from the Guardian though which reports that

The days of soft-touch regulation of the City are over, the head of the financial watchdog said yesterday, as he revealed that a new cadre of higher-paid regulators would ask tougher questions about the health of financial institutions in the wake of the credit crisis.
In an interview with the Guardian, Lord Adair Turner admitted that the Financial Services Authority had tried to regulate Britain's big banks "on the cheap" in the past, but said a more stringent regime was on the way. "There will be more people asking more questions, and getting more information, than we were getting before," Turner said. "There is no doubt the touch will be heavier. We have to make sure it is intelligent and focused on where the risks really are."

The Mail meanwhile reports that

Families face a £1,000-a-year bill after the Government committed Britain to cutting greenhouse gas emissions by 80 per cent before 2050.
The decision gives the UK the toughest climate change targets in the world and could usher in an era of green taxes and carbon rationing.
Government advisers admit that the shift to a 'low carbon' economy will cost around £24billion a year at today's prices. Divided among the nation's households, this works out at just under £1,000 extra per family.

The Guardian reporting that

Miliband told MPs: "In tough economic times, some people will ask whether we should retreat from our climate change objectives. In our view, it would be quite wrong to row back, and those who say we should misunderstand the relationship between the economic and environmental tasks we face".

The Independent leads with

'We need 30,000 more soldiers to beat Taliban,' says general

General Sir David Richards, who will take over from General Sir Richard Dannatt, is believed to favour sending up to 5,000 more British troops to Afghanistan on top of the 8,000 already in the country. The other 25,000 troops would be made up of US reinforcements and newly trained Afghan soldiers. General Richards also believes that a negotiated settlement may be necessary to end the conflict, but that any talks must take place with the Afghan government and Nato in a position of strength

The Telegraph takes a lighter look at the country,Afghanistan launches own Who Wants To Be A Millionaire

The programme's format will be similar to the original, but with one difference. The show's top prize of one million Afghanis is worth just £11,690.
However, the jackpot is considered a huge sum in Afghanistan, where the average annual income is under £200.

The face of Joe the Plumber dominates many of the papers,the Gaurdian reports that

It came so close to being remembered as the hockey mom election. But, doggone it, hockey moms will just have to wait another four years. The 2008 US presidential election belongs to just one man: Joe the Plumber. On Saturday Joe Wurzelbacher was, well, an ordinary Joe. Or to use a Sarah Palinism, a Joe Six Pack. Yesterday he woke to find himself transformed into an international phenomenon.
By mentioning him more than 13 times in the first 10 minutes of Wednesday night's third and final presidential debate, the Republican candidate, John McCain, sent Wurzelbacher into a media stratosphere the likes of which most publicity-starved brands can only dream of. Groups sprang up on Facebook with names like Joe the Plumber for President and Fans of Joe the Plumber.

The Independent says that

After John McCain and Barack Obama made him into the most famous plumber in America, it turns out Joe Wurzelbacher isn't a licensed plumber after all. Oh, and his real name is Sam.
The morning after he emerged as the unexpected star of Wednesday evening's US presidential debate, Samuel "Joe" Wurzelbacher of Holland, Ohio, found himself at the centre of a media frenzy, with reporters camped out on his front lawn and his phone ringing off the hook.

The Times reports that a Link between child porn and Muslim terrorists discovered in police raids

an investigation by The Times has discovered. Images of child abuse have been found during Scotland Yard antiterrorism swoops and in big inquiries in Italy and Spain.
Secret coded messages are being embedded into child pornographic images, and paedophile websites are being exploited as a secure way of passing information between terrorists

The Mail leads with Doubts over an aspirin for your heart

A daily aspirin taken to ward off heart attacks could do more harm than good, scientists warn today.
Routine use of the drug fails to prevent victims of type 2 diabetes suffering a first cardiac arrest, their research suggests.
They say there is no evidence to show it prevents a heart attack in the 'worried well' - healthy middle-aged people who take it as a precaution.

According to the Telegraph

Mandelson 'had three meetings' with Russian oligarch

Lord Mandelson's connections with Oleg Deripaska, who is said to be Russia's richest man, were raised in parliament yesterday after the Daily Telegraph revealed that the peer had enjoyed hospitality aboard the billionaire's superyacht during his time as European Trade Commissioner.
And last night it emerged that Lord Mandelson had also met Mr Deripaska for dinner on at least two occasions in Moscow, prompting demands from MPs that the minister should "come clean" about the extent of his links to the aluminium magnate.

Google uses Britain as gambling guinea pig reports the Independent

Bookmakers and online casinos will be able to advertise on Google, the world's most popular internet search engine, from today.
The company, which yesterday received royal approval when the Queen visited its British headquarters near Victoria station, was condemned as "irresponsible" by MPs and church leaders for lifting its four-year ban and allowing gambling companies to buy "sponsored links" on its site in Britain

Madonna continues to dominate the news,the Sun reports that

MADONNA’S marriage began sliding towards divorce after her hubby’s “unsympathetic” reaction when she tumbled from a horse, friends say.
The agonised Queen of Pop felt GUY RITCHIE showed a “complete lack of love and sympathy” after she snapped eight bones in the horror fall

The Telegraph reports that

Madonna has taken a swipe at estranged husband Guy Ritchie in her first stage appearance since announcing their divorce.This song is for the emotionally retarded. Maybe you know some people who fall into that category. I know I do," she told fans in Boston before launching into the track Miles Away.

Meanwhile many of the papers report on

A British couple were sentenced to three months in prison yesterday after being found guilty of having sex on a Dubai beach following a champagne-fuelled brunch

The Guardian says that

Vince Acors, 34, of Bromley, south-east London, and Michelle Palmer, 36, of Oakham, Rutland, were also fined 1,000 dirhams (£155) and will be deported after serving their sentences. They have 15 days to appeal

Scrap qualifying conditions for abortion and let women decide, say academics reports the Times

Britain’s 40-year-old abortion law flouts the legal principles that underpin modern medical practice, 85 academic lawyers and ethicists say today.
In a letter to The Times they urge MPs to remove the “qualifying conditions” on abortion that require women to obtain signed permission from two doctors, calling it “an anomoly