Newspaper headlines: Hopes of rate cuts 'suffer blow' and Dubai deluged

The latest setback to the government's Rwanda plan gets plenty of coverage in Thursday's papers.

"Lords defy will of the people... again", is the headline in the Daily Express. The paper says "meddling" peers are more interested in stopping the flights than stopping the boats and accuse Labour of a "politically cynical" move to block the legislation.

The Times reports that Conservative MP Mark Menzies is facing allegations that campaign funds were misused by making a late-night phone call to a party volunteer saying he had been locked up by "bad people" who were demanding thousands of pounds. The paper claims Menzies' office manager gave him money from her savings but that this money was repaid from local campaign funds from party donors. In a statement, Menzies "strongly disputes" the allegations and says he has "fully complied with all the rules for declarations".

The Financial Times says there's a "question mark" over Rishi Sunak's cuts to National Insurance - after the International Monetary Fund urged the government to take much tougher action to reign in public debt. The paper says the warning casts doubt on Mr Sunak's bid to scrap the tax entirely in future.

The Times also pours cold water on the government's economic plans. The paper says yesterday's smaller-than-expected drop in the rate of inflation crushed the Treasury's hopes for a significant cut to interest rates before the election. The paper says ministers had been "banking on" as many as three cuts before voters go the polls - but the markets are no longer expecting the first reduction before November.

The Daily Telegraph leads on the police investigation into Labour's deputy leader, Angela Rayner. The paper says she's facing "new questions" about her financial affairs, including whether capital gains tax may be owed on the sale of a second property. It also claims that "at least" a dozen officers are now assigned to the case. Ms Rayner has said she is "completely confident" she has "followed the rules at all times" and pledged to step down if she is found to have broken the law.

The Guardian leads on the findings of a report into drug shortages, affecting pharmacies and hospitals across the UK. The report, by health think tank the Nuffield Trust says Brexit is partly to blame for the problems - which could "put lives at risk". Some drugs for ADHD, type 2 diabetes, and epilepsy have been in short supply since last year, with charities reporting a sharp rise in calls from patients struggling to get hold of the medicines they need.

And an Italian professor has dared to challenge his country's proud culinary heritage by claiming that pizza owes more to the Americans than previously thought, the Times reports. In his new book, Alberto Grandi, a food historian at the University of Parma, says many of Italy's most famous dishes rely on influences from overseas. The best pizzas may be served in Napoli, but they're made with canned tomatoes, originally developed in the US. Mr Grandi tells the paper that his ideas aren't always well received, with one Roman journalist once threatening to punch him when he explained his theory on the origins of spaghetti carbonara.

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