Sure Start would face £200 million cuts under the Tories – 8 in the morning, January 22nd

By Alex Smith / @alexsmith1982

* Gordon Brown will face the Chilcot Inquiry before the general election, as reported last night on LabourList.

* Only a few of the 3,000+ Sure Start centres would survive a David Cameron government due to £200 million cuts, the Mirror reports.

* President Obama says he will break up American investment banks, which will “no longer be allowed to own, invest, or sponsor hedge funds, private equity funds, or proprietary trading operations for their own profit, unrelated to serving their customers.”

* The UK will consider similiar measures, according to Treasury officials: “We will consider the proposals very carefully. Countries around the world are rightly taking measures to increase stability and reduce risk in the financial system.”

* Britain’s leading tax-and-spending think tank has predicted that Gordon Brown would fight the general election with the public finances on an improving trend after the latest figures for borrowing showed a surprise pick-up in tax receipts, reports the Guardian.

* Afghanistan is not another Vietnam, writes foreign secretary David Miliband in the New Statesman.

* The Tories would add increased taxes on drivers in order to fund their marriage allowance, reports the Telegraph.

* David Cameron will rush through a 10% reuction in the number of MPs if the Tories win the next election.