demo puts us over to pate the box. the company's government is as pressing me who isn't kumasi to pay the same rate of but treaters were already feeling squeezed, gone as currency. the cd plummeted, 40 percent against the dollar over the past 9 months. it's pushed up the price of imports at a time when inflation is already soaring. food prices have more than doubled in the past you this week. before we even went to this close though, something was contracted, then next momento got us. it might have been wanting. is about 200, i said i got to stop having this condition. these stalls are closed in protests, but some may end up closing for good traders worn of knock on effects to the whole infrastructure of food distribution we are there, man distribute as in the us on through them and as others to help is to be really helping to serve the middle pos, that is the northern parts of ghana, and in this day they got mad. i've been coming into us as well. coming in to rob

lit the pharmacist yard, implement them up. it's going to get some effect leaving their markets. oh, protest like these are spreading to other regions as merchants lock up shop in solidarity with those in ashanti tax authorities have held talks with the traitors. but so far the 2 sides have not the compromise. ordered. roberson algebra. ah, this is our desert. these, your top stories, the un general assembly is very sad, overwhelmingly, to condemn russia's moved to annex parts of ukraine. 143 countries. vase it in favor of the resolution that reaffirms ukraine, sovereignty and territorial integrity. our message is loud and clear. it does not matter if you as a nation or big or small rich or poor,

old or new. if you are a u. n members state your borders or your own and are protected by international law, they cannot be redrawn by any one else by force. conspiracy there is alex jones has been ordered to pay almost a $1000000000.00 in damages to families of the victims of the sandy hook school shooting. jones jones falsely claimed for years that the 2012 shooting was a hoax. rosin jordan has mo, from washington the judge found him guilty. busy and after 3 weeks of testimony, the jury decided that the families did not deserve the $550000000.00 that they had requested in their law suit. they decided that child, these families deserve much more money, $965000000.00. now what this means is, is that they will defied the funds, not equally. there's also an f

b i agent who is also going to get about 10 percent or so of the money that i was awarded a energy min assistive again fail to agree on a package to tackle high gas prices. 15 member states want the price of wholesale gas to be kept across the block by others advocating alternatives, including a limit on gas consumption and subsidies for businesses and consumers. you are paying commissions puzzles and you to be unveiled next week. okay, there is, are you headlines? nice continues here now sarah, coming up next, counting the cost. the chinese communist party holds it. 20th congress, delegates for me to discuss constitutional change, economic challenges, and phone policy with president gene being likely to secure at that time. will he be given even power to pursue his vision for the future? for the story on which is era,

i hello on has him seeker, this is counting a cost on ages. he had a your weekly look at the world of business and economics. this week a big you turn on promised tax cuts for top earners in the u. k. but is the british government's reversal enough to limit the financial damage and has the prime minister lost her credibility? also this week, hurricane e, and joins a list of destructive and very costly storms is the world spending enough to mitigate or adapt to climate change and boeing's, vice president tells us how the company's planes can reduce their carbon footprint . ah, but just a few days ago,

britain's new prime minister was confident she would be able to kickstart economic growth by cutting taxes. yet the country is still on course for recession. the faced with market turmoil and criticism from within her own conservative party list trust was forced to scrap plans to remove the 45 percent top income tax rate. on high honors, the u turn is being seen as a humiliating about face. that leaves trust is economic policy and premier ship in crisis. nadine bob reports from london. i have 3 priorities for our economy. growth, growth, growth. the policy conference. it opens against the backdrop of intense market on eas, liz trust is pro growth tax cutting. many budget had lead briefly to a slump in the value of the pound, and instantly made thousands of mortgages more expensive. with expectations,

the bank of england would have to raise interest rates foster. then at the 11th hour chance in a quasi quartet was told he'd have to reverse plunge to scrap the 45 percent income tax rate for top harness. i know the plan, what forward only 10 days ago has caused a little turbulence. i get it. i get it. that may well have been nervous. laughter as the opposition labor party opened up a big a lead and opinion polls delivering to my investors in the city of phil, waiting on crucial information, including the assessment already done by the office for budget responsibility, the government independent economic forecaster. and there's another group of people who might want their say on all of this over in westminster. it was only when the prime minister realized she was facing a mutiny from conservative members of parliament over the top tax rate that she ordered the u turn. crosses position has always been that growth drives things so successfully that you don't need to explain how you fund your tax cuts, because

a ha, a lower rate will give a higher yield with more grace. people aren't broadly speaking, accepting that at the moment. and they're looking for an understanding on the government balance sheet as to where cuts are going to be made, of course, and he comes to public spending could prove hugely controversial. the government's refusal to commit to raising welfare payments in line with inflation has prompted open descent from some cabinet members. one think tanks as the many budget is regressive. as most of the gaines go to richer households and will struggle to achieve it stated, aim, the tax cuts that the government has proposed aren't looking like they're gonna achieve the growth targets that the government is, it's setting out for itself. it would have to increase great by quite a substantial amount for them to even pay for themselves. and in terms of the, at the spending cut that automatically going to reduce g d p for, for the u. k. so it looks like the job of selling this new low tax, economic vision has really only just started nadine barbara for counting the cost

london. which honest now from london is below half ease chief executive of the macro. hi, thanks for being with us. so why was this so poorly received by the markets and, and then the subsequent you turn is that gonna be enough to calm the markets? yeah, that's a great question. i mean, one big reason why the u. k. many big budget was so poorly received, was number one, the size of the desk is fairly large, the tax cuts. and then before that there was the energy subsidy with the introduction of price caps in the u. k. so the amount of borrowing the u. k. government is having to do is very large compared to what it had announced in the previous administration. so what was the, the scale of the desk did, but also it was the way the u. k. was going to fund that deaf fit, which was to issue bonds, but particularly issue bonds at the shorter tannel off the car, the one to the parts of the curve which one particularly liquid. and so they seem

to be a lack of chord nation with the management office in terms of the way the government would issue bonds. and that really sets a set, a bad tone for the straight markets in the u. k. which over the past week or so have experience significant volatility then on the, on the do turn. to some extent it does potentially help the administration in so far as it removes one of the politically toxic parts off the mini budget. but at the same time it has it in utah and so other parts of the conservative party can smell blood. and so they may challenge the parts of this trust is program which could introduce much more uncertainty about what the government can actually do going forward. and will people on the lowest income still pick up the bulk of the, of the costs of the costs and, and what about middle class families? everything from mortgage to, to food is getting more expensive now,

and you can absolutely so on balance, the measures are regressive. which means that people at the lower end will suffer, will get the least amount bent, that will suffer more than people who have more income and not apply to lower economic classes as well as middle class as well. and as you write, you points out the, the thing that really hit people ha, is the increase in interest rate. so people's mortgage is when they reset their mortgages, most people and you have to go to your fixed mortgage rates and many of them will start to reset over the next 12 months. they'll be in for shock them. monthly payments could double or triple even in many, many cases. so this is really quite a big shot to, to the system. express, especially people's expenses. and the bank of england, this is, is not going to keep intervening for, for too much longer. they are expected to, to, to raise interest rates. but what does all of this mean going forward then? yeah, the bank begins in a tough situation because on the one hand, they committed to stock buying government bonds. but obviously last week they had

to buy government bond to the people lies the u. k. in straight markets. so that's one chatting is they face because they're having to do things contradict. i know the policy of that same time as you rightly points out they, they have committed to raising interest rates to reduce inflation. now the issue here is that the market so expect them to raise interest rates very significantly up to maybe 5 percent. so even 5 hopson by next year, that's more than the bank, said that they are willing to increase in rates by but inflation is very high in the u. k. now, of course, because the u. k. has this angie price cap, that means the patient could come down to bits, but on balance banking, thank the gland is in the top situation of having to raise rates at a time where people's people's household bills are going up. and this, these plans by the, the british government have been dubbed trust nomics and it's modeled on reaganomics, which is of course,

a reference to the u. s. president's tax cuts in the 1980. the idea being that these tax cuts would create more wealth in the economy and thereby lead to higher tax revenues. does. does that work? i mean, has it ever really work? that's a good question. i mean, there's a big debate around all of this. i mean, in general, it seems like the effects are much weaker than people think. so that will trickle down economics that the, the historic evidence is quite weak, that it does work. what does tend to work more so called supply side reforms. and this is something that part of trust economics, which is to reduce regulations, reduce red, say make it easy for business to operate in the u. k. so that is something that lives proper ministration is engaging in that potentially could be positive in the long run. so there is a silver lining, and all of this, the question is whether she has the will and the buy in from a policy to be able to push through those reforms in the coming few years. so,

i mean, you, i know you mentioned the sort of political implications of this has that has the prime minister, lost her credibility. you think what, what does this mean for the long term and for the conservative party, i think there's been a big loss of credibility. one basic example is the fact that many of the, these announcements were not discussed with the rest of the cabinet. so the rest of the cabinet are starting to speak again, blue cross in public, which is a very bad sign. public polling shows that lives cross is the least popular, tory leader for in modern times. so she's lost a lot of credibility with the public, but also within her party. so there's, there's already talk that there could be another leadership challenge which introduces additional uncertainty. so the next month or so, i was going to be critical for this cross to try to get over this negative and tried to stabilize her position. so it's a very precarious situation that she's been right now, and the next $45.00 weeks are going to be critical to see whether she'll be able to

regain a credibility and push through her program will add half ease in london. thanks will be with us. great, thank you. the the united states has gone through $332.00 climate related disasters in the past 40 years that have cost, at least a $1000000000.00, and they're happening more often. now. hurricane ian is the latest and it's estimated that could cost up to a $100000000000.00 in damage and economic losses. that makes it one of the costly storms in us history. president joe biden's recent climate law is providing only $37000000000.00 a year over a decade. christmas salumi reports from new york, tallying up the losses from hurricane ian has only just begun. our roof is in the back of the house. for these retirees, seeing the damage to their homes and neighborhood was overwhelming. there's no words for it. it's like holy cow, what

a mess. the south west coast of florida took the brunt of wind and storm surge, but the impact of the heavy rainfall was felt further inland and up the united states. eastern coast experts say whether storms is one impact of climate change. the majority of the cost, as well as the lives lost as a result of hurricanes and tropical cycle. it comes from flooding. it comes from a storm surge. it comes from the rainfall. one of the costliest storms in u. s. history superstore. miss sandy wasn't even a hurricane by the time i got here in new york, and yet here's where did the most damage. $82000000000.00 and flooding an infrastructure costs some early estimates for hurricane in are approaching that. more than 40000 utility workers were dispatched to florida alone to help restore pat power. water means and roads have also suffered extensive damage. not to mention bridges. the governor said 800 of them were in need of assessment.

president biden declared a disaster in florida paving the way for federal assistance for infrastructure as well as individuals. it means the federal government provide individual assistance of $37900.00 for home repairs and other $37900.00 for loss property for anything from automobile to last. wedding with several health care facilities damaged and forced to evacuate. health impacts and related costs will take years to fully understand and has gone into flash. while the human cost remain. incalculable. christine salumi for counting the cost new york, oregon, and also knocked out pow across all of cuba and devastated some of the countries most important tobacco farms. several other nations experienced extreme weather conditions last month, including pakistan, where the worst floods in the country's history left

a 3rd of its people under water. the un secretary general antonia good parish accused the wolves 20 riches countries of not doing enough to stop the planet from overheating and developing countries are calling on rich nations to pay the losses . the climate change has inflicted on the world's poorest people. well, joining us now from munich is dr. miranda shaw as chair of environmental and climate policy at the technical university of munich. thanks for being with us, doctor. let me ask you 1st off, the damage for this is estimated cost up to $100000000000.00. how is that going to be paid for? who's going to pay for it? it's a streaming, expensive storm that is going to cost the insurance companies as well as private individuals and eventually also the state huge amounts of money. it's, it's something that all of us will have to chip into all of these kinds of big storms or storms that need to be paid for by multiple individuals. but the reality

is, the money that's money that many people don't pass. and the un secretary general, antonio parish has said that hurricane even shows that no economy in the world is, is immune from the climate crisis. is this $370000000000.00? that's the, the government there is providing under this new climate noise that going to be enough to tackle the problem. oh, you know, there's so much work that needs to be done with building infrastructure in north america. the united states in particular, which just hasn't invested enough, whether it's in the electric grid system and bridges and roads. and then a new technologies like the renewable energy field or electric automobiles that, that alone is going to require most of that money. and when we look at climate adaptation, the reality that we have rising sea levels that we have storms that are expected to increase in intensity. so what we saw here with, with e,

and this is likely to become something that's much more regular, much more often really damaging storms. there's going to be a lot more money that needs to be invested into rethinking how we build, where we build and bringing nature back in, in order to protect coastlines, better in the past, we've been building, and i say we, i mean all around the world, we've been building right along the coast, we've been building an areas where it requires deforestation taking away the mangrove forest and it's up south east asia and the florida keys, where you see people building on the sandbanks. it's really something that needs to be reconsidered because climate change is going to mean we're going to have higher sees we're going to have more storm surges. we're going to have more intense rainfalls. and this is unfortunately only the beginning of the, of a really serious problem. yeah,

let's talk about the energy crisis. the current energy crisis right now, which is reflecting much of the world and how that's hampering efforts to to, to combat is, is that hampering efforts to combat global climate change or would it perhaps accelerate the transition to renewable energy? yes, we really need to wake up and start thinking about how we can we are selves away and rapidly from fossil fuels and build out alternatives. energy efficiency is still a real potential. there's still a lot of energy saving potential, which is the cheapest way to deal with a crisis. but then also to invest in renewable energy, which are much cheaper than they used to be. you can, you can put photovoltaics on to school buildings on the roof tops offshore. wind, which provides a fairly steady kind of wind. we're seeing big improvements with heat pumps and the potential to heat and cool with, with using kind of

a geothermal energy system. so there's a lot of potentials here and we're seeing booming trends in the industry. but there's a long ways to go. and egypt is pushing for loss or damage. converse compensation at the top of the un. i'm, it's somebody agenda is hosting the next climate summit. do you expect any progress there and will country's ever live up to this 100000000000 dollar pledge on, on adaptation and mitigation? well, certainly the developing countries that have contributed least to the climate change problem are the ones that are going to most seriously feel the branch of these extreme storms. you know, whether it's the floods or the droughts or extreme temperatures. these are the areas that are also least able to cope with these extremes. and so i think there is something to this question of,

of compensation on dealing with the damages that they are facing. denmark is actually signed up in the 1st country to pay for some of this damage. so it's is setting a new marker for the rest of the world. but we haven't seen real problems getting countries to, to actually pay up the commitments have been made politically on paper. but in reality, the funds are only flowing in part. and i think this is an area where we need to rethink also how we cooperate with the developing world. we need to bring in insights from not only the north, but also from the south and thinking about what are the right approaches to adaptation. how can we make sure that food security is still there or for areas that are being hit by drop or salad is ation of soils. we need to think about how we build differently in developing countries to deal with with monson range that

are going to become more extreme. i'm so there's, there's a lot of work to be done, but also a lot of potential. but it's true, the question of who's going to pay for this is very big on the agenda. and unfortunately that's going to be a very difficult challenge to, to get through right now, because we're all suffering from the energy crisis and opec oil embargo right now. obviously the, the russian war and the ukraine is doing crazy things to energy prices around the world. and in this kind of political context, i fear it's going to be a challenging uphill battle in the next coffin, egypt. dr. miranda roy is in munich, thanks. will be with us. thank you so much. now, commercial air travel is making a come back from the pandemic after months during which it was virtually grounded. that's led to an increase in demand for new planes to steer the industries recovery

. airplane deliveries and commercial services could be worth more than 10 trillion dollars over the next 20 years. the manufacturers are also under pressure to cut their carbon emissions to save the planet. i just as some of been javin spoke with michael, also the vice president of american plane make a boeing. he started by asking about the industries outlook. well, we've ation, he's had a really tough 3 years because of it. but he is coming out globally much faster than people expecting, not starting with local flights and national flights and regional flights. but even international flights are picking up really very, very fast. and this part of the world is actually come back faster than many other parts of the world in terms of being back to 2019 capacity. so it's quite exciting how that industry is picked up. you also have a long term asana. we make a 20 year forward projection,

we're pretty much sticking to where it was before cove it so we're talking about the well fleet doubling about 104-004-1000 new airplanes being bought over that 20 year period of this industry has a huge future, and the whole of your region is part of that future because it's a key part of the world for the russian fleet has been quite big in the past. but if you look for that 20 year period, actually only a 1000 play and just over the 1000 planes were in the forward look for russia itself. when as soon as the war started, we cut out everything we do in russia. we had quite a bit of ration in russia, and there is nothing that now we've even stopped chosen to stop taking titanium from russia. not everybody has done boeing, decided for good reason that we would not do that. one of the major concerns about sustainability and sustainable fuel is that it isn't the silver bullet that people

would like to see it. there is an issue with transporting it. there are that many people who are producing it, even when it is being produced. the price is quite high, so the 2050 carbon neutrality target is it achievable? is it real and how is going going to help? there are 4 big amounts to this. first. the best thing you can do is buy a new play with whichever company having 25 to in common reduction on a plane that replaces no pain. the 2nd thing that we're working on is digital technology to help the fly more efficiently and avoid separately my airport. you thought you can save about 10 percent that way. of the 3rd, and this is the big new area for us, is to get those free, flying with sustainable asian fuel and then build that beyond 2050. we're looking at new technologies, electric plains, where does hydrogen fit into this? but that won't change the fleet. that's coming now it's the same will evasion fuel

which will help do that. and particularly for a place like cut. because here you have very long whole passengers and 80 percent of seo to output come from the long whole flight. and we do it ourselves. all the time and you can do it 100 percent in a demonstration. but in practice it's not, you know, make because the price is several times higher than conventional fuel. so how do we get that change that is partly scale of production. and you're right, it has to be around the world. i mean, not in every country, but in, in most regions. and each region will have its own way of producing the technology . there is a question of getting scale at a price that works for the industry. and we're, we're, let's talk about boeing going forward. how is bullying going to sustain its growth? is a gun going to come from? technology is going to come from the evaluation sector in the commercial pot, or is it going to be the military hardware and solutions that going provides?

i think it's all 3 of those. i mean, we have roughly 6040 the commercial over to the, for the defense side of our business, but built into that a big and growing sector call service. so on both commercial and defense side, we're helping sustain airplane through the life of the customer running the plains . first, all of big big growth area. i mean my job is to see how we can become even more global as a company. we already coakley level, but i see big growth, for example, in the commercial feel in asia, middle east, and a big markets over the next 2020 years. and all of that is growth. we're very excited about it as we come out of probably the 3 hardest years in a vacation history in terms of commercial flight because of it. and that is our show for this week. remember, you can get in touch with us by tweeting me at adams. and do use the hash tag

a j ctc. when you do or thompson email counting the costs that al jazeera dot net is our address. there's more few online that's just a dot com slash ctc. that'll take you straight to our page, which has individual report links and it's high episodes for you to catch up on that is it for the tradition of counting, the cost hasn't taken from the whole team here. thanks for joining us. the news on algebra is next. the ah, the sense of belonging walked down any street in personnel to feel the presence spend community and the everyday heroes with communities together. give them the

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