visiting with children, the prison, the scene of unspeakable horrors. so i saw a pile of bodies. we had a lot of questions about how these men come to be dead. echoes of the 2 brothers. i must have shut. those are coming soon enough just so you know, the hello, i'm adrian said again, and this is counting the cost on. i'll just see where you'll we can look at the world of business and economics this week. it is the labor parties 1st punch it in 14 years. the plan is ultimately end up making personally the fastest growing economy in the group of 7 nations. but will the tax and spending measures work?

democrats combat harris and republicans, donald trump, are running neck and neck. 1000000000 is funded the presidential campaigns to the, to the millions of dollars. so could the try. coons help to swing the results of russia as military spending is fueling inflation every day. items are becoming more and more expensive. for many russians, a central bank has raised interest rates to a record high to help these prices. it is a big bunch is a big political moment for the u. k. is governing labor policy. the british finance minister has announced watering tax likes with businesses of the wealthy bearing the brunt. rachel reeves has also gone big on borrowing and spending. reeve says the measures are aimed at improving public sector as boosting investment and laying the foundations for higher growth in the longer term. however, even a target is plugging a whole of almost $28000000000.00 in public finances, which her policy blames on over spending by previous conservative governments.

prime minister keeps thomas's, the plan will be painful now, in order to deliver the best of days in the future of jonah, how reports from lumped them about data for the ages. so, so kia system is labor, government hopes, delivering 1st stability, and then gross to britain's economy off to 14 years. it says of conservative neglect on july the, for the country voted for change. this government was given among sites to restore the ability to our economy to begin a decade of national renewal. that was tax rises and enormous of $50000000000.00 with calibrated to 8 employers and the will for all the workers pay. and that was the promise of more borrowing to generate growth. and the only way to drive economic growth is to invest,

invest investor feel positions re book will see. they don't like it, but this is the x rays. they have the free goes, they have praise. they have broken promises on the working people of country that are going to pay the price voters who gave labor a landslide victory in the summer. we want to know one thing with the work i think is budget is enough to sell things getting substantially. well, i'm not sure it's enough to really fix all broken public services and ensure that people have a decent styles of living. the real task will come at the next time election when voters will be asking themselves. do i feel better off than i was 5 years ago? it's a so called tax and spend budget billions raised from taxation for public services, billions, more race from new borrowing for other investments. it should be

a recipe for growth and for ray to read, springs 1st step, a female counselor of the exchequer. a career defining moment, outlining the blueprint for change. the label promised children health counting the cost number. well, that's how some brits feel about the nations economic situation. the state to come today when it's been running down to yes. what team local governments and loves we can go from the yes. and you know how low close to ortiz? oh, managing. i don't know because there's no monday i told it would be a good idea or if we just don't the rich to pay, i think that it's in the proceed. doris states, public sector is having difficulties. i don't think is correct. but west reaching is saying that the a net chest is broken because a lot of very good people are walking that i'm doing that savvy best thoughts?

there is pool management in certain areas. go in a very difficult position. anyway, we've, we need to do spend, we need to spend money on the economy. so whoever was in power to make some commitments, take me to the public site to get the economy guy and a guy in. so it's gonna be different for different for any any policy the same talent. joining us not from london is johnson pauses, professor of economics and public policy at kings college london. jonathan, good to have you with us. again, it was according to all the pundits, a classic labor tax and spend budget. what did you make of it? is it going to be enough to get the u. k? is economy roaring again as well? there are 2 aspects to it really in the short term, taxes have gone up to improve the, to increase spending on public services, especially the national health service. and i would say as somebody that governments of both parties has done quite a bit over the last 40 years, not just labor in the medium for longer term. um the government is going to borrow

quite a lot more to invest with the hope of restarting growth. over the medium, the longer and that unfortunately, it's something that governments of neither party, ever any don't have or the last 40 years. so that's a big shift. um, will it work well in the short term? uh, there will be some more money for public services. the question is, will it be enough and perhaps more importantly, will it be well spent with the government actually be able to deliver the improvements in the national health service and other public services that relate to british people really, really wants to say it in the short term that's by far the most important thing i think for have this is this, this is received in the longer term. the important thing is willis, x for investment actually deliver higher, right? will more investment did transport infrastructure and rebuilding schools and a whole host of other things. i agreed energy and so one will that generate,

well that gets written back something like the levels of growth we had before the last 50 years. would you be pretty miserable? and again, that will depend on how efficiently and effectively that money is spent, but it will take quite a long time to come through. i want to come back to the point you made about couple of borrowing it in just a few moments. but 1st let's talk about the textbook. the fact that the government is placing the textbook now, but more on employers and on the well off. how will that help growth when you, you hear of someone who is now saying that will, will they come in for a for to invest what to take on more people because the textbook and has, has gone up. so i'm, well, nobody likes say more taxes of course, but this is and this will have some negative impact on some employers. but he's not that big a deal. quite frankly, it moves us likely closer to more european levels of taxation. although we're still, we still tax job is rather less the most comfortable european countries. we always

have budget responsibility estimates that it will reduce employment on net 5 point one to point 2 percent. of course, that's not a good se, but it's really not a huge deal of the great escape of things. um, so i think we should take some of this of the pictures sold, quite frankly, the now opposition. conservative leaders we saw in parliament accused the new labor governments of, of fudging the figures, talking about about government borrowing as you well they've shifted the gold plus some, but they've changed the rules on, on, on government borrowing is 5 bought fudging the figures and they have changed the rules and pretty much every economist, i think that that has talked about this issue is that they are absolutely right to do sense. but previous rules made little or no sense. and what is under the previous government plans, resulted substances, very large cost of public investment over the next 2 years. and that would,

frankly have been absolutely crazy given while we all agree is the case a considerable accumulated deficit and public investment. so yes, i have changed the rules, i will if i to me, if you like. and they were asked for the right to do, said the previous government had less than with that with, with something which had actually been implemented would have been, frankly, an absurd way to try and grab the, the pay economies. like i have to get the pain out of the way early in the 5 year tom will produce votes is feel any better off by the time of, of the next election. and we'll leave that have to, to, to issue another painful budget. some went down the line and i think from the 1st um, if this, the key thing here is delivery on public services, that is what will make people feel better off. um, will i pay somewhat more taxes or results with this?

yes, um, well i think it's worth it if, where if, if unlike what happened to be a few weeks ago, i don't have to wait for 8 or 10 hours and, and the accident and emergency room with my mother with a fractured yes. yes, it will be worth it and vice principal feel the same quite frankly. but the key is actually making sure that we're running for public services does deliver improved health services and other services. that's what we're really matter. the perception of whether it is a success of the short to medium term. okay. well, they need another, but i, you know, i think that depends on a lot of state has many of the matter their controls. but the impacts you with it from collection due to the global events, u. k. economy, we don't know, but it could be significantly more impactful than this budget to be. so it'd be on it. so, um we don't uh, we don't know what will happen. the next 2 years and what they'll need to do, but i think this is a, yeah, they are making a gamble here. the gamble is that they can spend this money effectively on public

services in the short term on the, on the investment in the medium long term. i think given the state of the british economy, given the mediator performs less than 15 years. that is the right strategy is the right thing to do, but they really have to deliver and that was not going to be easy. professor, it's always got to talk to you on counting the cost on somebody's thanks and thanks for being with us. again, they do, it's now winning the job of us president requires deep pockets. this is race to win the hearts and minds of american boat as was expected to be the nation's most expensive in history. the democrat and republican campaigns of the allied groups have spent almost $16000000000.00 over the course of the selection cycle. that's according to open secrets. a non pump design group attracts money and politics. billy and as from silicon valley to wall street, have donated millions of dollars to help the preferred candidates when raising concerns of whether they're trying to gain future political influence. the campaign by democrats, cala harris held a fundraising fundraising lead of

a republican donald trump last month. but how much of that money came from the super rich victoria k to be looks now? it's a how some of the like coons of approach the selection. so you know, think about how use united states is home to around 800000000000 as sama using the vast wealth to try to influence the outcome if the presidential election bleed as donated around 18 percent of the $3800000000.00 raised in total. say, saw by the republican and democratic campaigns, 82 building as a supporting comma harris, 52, a backing donald trump. donations by building is accounts for 6 percent of heresies, total campaign fund. and just the def trumps the majority of his money coming from full don't is not just back up. i'm dog because they include dealing it, you know, most he's given $75000000.00 to trump campaign. and miriam adults and whose

inherited a gambling casino empire from her late husband safe while she's given trump a $100000000.00. those donors millionaires billionaires are really supporting super packs which are stepping in to kind of fill the fundraising gap. the republicans are facing due to their poor fundraising from small donors and to the people. regular people. media report suggest harris's building. donors include bill gates. he said to have given $50000000.00 to a political action committee aligned with harris and billing and foreman. you met michael bloomberg when billing as donate money to presidential campaigns. the question, what's in it for them is inevitably raised and we're going to bring musk support mainly to a cabinet rolled and the republican administration is from wins the presidency gallery logic, victoria gates and b l g 0. so counting, the cost of joining us from massachusetts is raymond loza,

who is professor of political science and co director of human am, has poll the university of massachusetts us could have you with this. right. like many countries in the world, the us have campaigned spain spending limits on each candid how all the old for rich able to throw so much money at this election of the rules being bent. that's a great question then. yes, the rules are being bent. the reason is they can give tons of money without limit to these groups that are called independence. and these groups and spend the money to support their favorite candidates. it's really a way to get around these limits and many the richest people in america. do this, all right, so if the rules up in bent, does that mean the election could be being bought? what does this tell us about the state of, of us democracy? will this money in any way sway the election?

well, a presidential election. you know, they put on a lot of ads in a few key states because we have this electoral college system. and uh, yeah, they could make a difference when the election so close. at the same time. people uh, watched the candidates on the news all the time, and so that helps as well. the best way that money is spent is to help people get to the polls in united states. but most of that money is going into tbs and places like pennsylvania. i think people there see a political ad every 10 minutes. i'm sure it's driving him crazy. what motivates the, the, the, the old for rich to generate a to, to donate such huge sums of money. here is it for genuinely held political beef? so believe salt at the sound of a cynical vote is it because they expect to be able to exert some sort of political

influence in the future as well? it's certainly an ideological component. a lot of the, a lot of the wealthy uh, have more conservative views of the economy. and so that's, that's part of it. i think the rich are split between harris and trump and they have different reasons for supporting them. i think a lot of the rich, a very close relationships with the trump because of he's a, he's a billionaire himself and so they're supporting him. they have particular interest at stake given that each of these, either of these people getting into office. so it's a, i would say it's a bit of both, maybe more on the business interest side until they get types of tax breaks on the money that they, they don't nice no tax breaks on that. no, they don't. okay. that that's not that doesn't, that doesn't help them. all right, so, so what does it on mosque? in particular, i've gotta get out of a backing. the trump campaign that you're not musk is

a very unusual billionaire. he likes to be very much in the limelight, just like trump. uh and, and he has a he, he has these uh, his p e, as in bob and a cultural war against the liberals. he's very much against some of the more progressive positions. now, of course, you must cause a lot at stake as well. he has many businesses that are tied to even us national security interest, such as his firm star link. so, you know, it's, it does create the impression that he is a, getting a benefit from supporting trump so much at the same time. he's turning off a lot of consumers who might be buying his cars. many people did not like his politics. so this is, this is kind of risky game for me. he runs dealings twitter. many people don't like to use twitter anymore because of his very strong positions. and the conservative side of what motivates people who are packing the democrats. so the democrats

a different story, but for the democrats, um, you know, if, if they want stability, the rich people think that the harris will be more stable for the country. trump, they feel is unpredictable. even if maybe he'll cut their taxes and they, they genuinely don't like him. and so for, for, for them. and you have to understand that it's, it depends on the, the industry. hollywood of course, is mostly supporting harris. they always have supported the democratic candidates, the people in the oil and gas industries, and tend to support republicans and their supporting trump and the tech industry. and the finance industry is, is largely split. and so the other, most them still support. i have to say that she's getting more billionaire support . i think about 80000000000 here support her and about 50 support him. so there is the vision that some people are still staying away from the whole thing and not

endorsing people like a warren buffet. the investor, jeff diesel's, they, they don't know who's going to win and they don't want to make anybody angry. but that's the amount of money donated and spent on an us presidential election campaigns need to be kept. you know, in the united states that would virtually be impossible to catch spending. we have a, a judicial court, a supreme court who has real time. and again, that the 1st amendment, which is about free speech does not allow restrictions on spending because they've, you've spending political spending as a former free speech. so i don't see that happening any time even if people want it . and there's a lot of election worries out there any way who can help people get around such restrictions on caps and spending. so i don't see it happening really good to talk to you right. manufacturing thanks for being with us. thank you. the price wise is, have cooled in many parts of the world in central banks of low at borrowing costs.

but in russia, interest rates have been recently raised to 21 percent. that's the highest level in more than 2 decades. the move is a bit to slow down an overheating economy and to reign in soaring and inflation. the high cost of living has been blamed in pot on record military spending to sustain the will in ukraine. a shortage of workers as a result of military recruitment is also contributing to inflation. the was left hundreds of thousands of russian men dead or seriously injured. hundreds of thousands more has left russia to avoid conscription. companies are competing for workers by offering them higher wages that split the higher consumer spending. military spending is led to a boom in the russian economy, but economists, one, the supply and demand balance is a breaking point with potential long term consequences for russia's financial stability. joining us not from london is tatiana oliver, who's a lead economist for emerging markets at oxford economics. talk to you on

a good time, be with us. what do you make of that warping interest rate? rise by the cbs? is it going to be enough? it must be enough surely to cool inflation in russia and how long a rates going to have to stay that high a hi there. well, the thing is that there is no guarantee that this is the end of the q cycle. there has been no sign yet also placed me precious a breeching. despite that, the central bank has bikes and it's pointed simply, fine. by a founded basis points since july, it takes a while for the one to replace 10 transmission, they can use them to work and perhaps in the next few months, they will be f as in step is central central banks sites and is taking effect. so what i think there might be another some what impact tatiana is a right but high you go to have on both washing businesses and consumers as

well. um, in the response to the high central bank, a policy rate at local banks will be increasing the mortgage rates and the rates they charge on a few more loans. so after, after a while there will be given the fact that it comes, you must be, will be less willing to take close at and even higher rates beach to be honest. i waited quite prohibited. and eventually it's real slow down demand. why these channel, it has to be much of the best in russia, beverly that have multiple subsidies. and even though the most popular mortgage subsidy was withdrawn, as of the 1st of july, that i still owe the mortgage subsidies speech. as 14 uh the month mortgages and the same applies to corporate, the landing at rush them. companies are still benefiting from

a subsidized subsidized loans uh, with the government basically subsidize banks for the part of the interest on a certain loans. therefore, what it down to the effect of the spray trikes is not as high as it would be. and what state is the russian economy right now, the country dealing as it is with the highest rates of ministry spending. and of course, uh, western sanctions. what we use uh the uh, rules freight is too important. hi. um we have recently even used dial girls or cost. so this year, so $3.00 to $3.00 defense because the economy started slowly over 18 the 2nd quarter of this year. however, the growth is still above potential, so i would say july august, you would cheated thoughtfully based, very sick, significant from tides in the morning to be policy. that will be quoting as a,

the rate of growth you'll be slowing in becoming most thanks for being with us on counting the cost cuts, talk to you. thank you. feel prizes of jump to get in. nigeria, putting more pressure on citizens already baffling the countries the toughest cost of living crisis in a generation. petro now tops $0.17 a lead to end the capital of boucher. more than 5 times the price when president bullets a new book took pallet in may last year. he's scrapped petrol subsidies as part of a sweeping reform program, driving up the cost of food and transport, as obviously it was address reports from a butcher every week. victoria cub, i've travelled 15 kilometers to this road market to shop 4 foot each time she's here, she says, prizes keep going up. she goes back home at midday to prepare meal, not lunch, but dinner,

or have somebody will have to skip lunch in order to afford didn't go to the markets to be we are going to move on this to add or not the one me to the previous monday, so you will not be able to get anything back. we'll do this. i'll go through tough because i'm a chummy just as a cost of goods and services source. although the price of goods has gone up sharply income supplemented for most recently the government more than doubled the minimum wage. but activists say the weakening of the local currency the night or cost 0. did those gains? if one, if you have a 1000000 euro, your bank account right now, the value of the millionaire is not by 100000 now. and that's why do we move? we think premium. those really excites anybody because the increase the font that has a $3000.00 of that we had as minimum, we had little value then disturbances. so with this 1000 minimal weight,

and then because it's 70000 there, but i'm always like 7000 there, right? in terms of bundle twice this year, now judas took to the streets to protest against the rising cost of living to get by the high price of people. so so the last, the most christian in july, prizes have risen by 65 percent. which comes to one of the federal station, so the outskirts of the company to move to the price here is $0.73 a lease. it's high in other parts of the country. this price determines what happens to nearly all the costs of goods and services in the country, especially for headstart the rising prices. how deep and get us cost of living crisis. when president bona, i meant to go to conference in may, 2023. the and austin and to the countries wasteful feel subsidy received as part of a product economic or for all future se dimensions are necessary to grow the economy to the supposed to stand where you cannot be tempted with that. and so the,

the president took that very bold inquiry, just decision to take you to we and the moment it went, we had more of a new going into our economy for the government itself, nationals. so the debt to comb literally doubling that in some cases even even typically the government says it's reforms have started using results. many nigerians want to see those results in decreasing the cost of federal, transportation and 4 degrees. i'll use either a bu job for counting the cost. but i'll show for this week if you'd like to comment on anything that you've seen, i'm at a citizen on x. try to remember to use the hash tag a j, c t c. and you could also drop us a line causing the costs out of a 0. don't net is our email address, as always as more for you online at all, just 0 dot com slash ctc. that takes you straight to outpatient,

that you'll find individual links at a date and time episodes is a catch up on. but that is, it's the best solution of counting the cost on adrian. instead of going from the team here in the health, thanks for being with us. the news on i'll just 0 this next on the brand of stores. but who gets to write that story for a nation in decline? that's all i can say. and how would it matter to those in need those across our borders? i'm awfully, we'll be apprehended. we're going to deport these people. we're going to get them out of our country. i mean, what is the, what to expect to each other in the world who we are? we have to be brave, otherwise we're not going to have a country left. how will the choice of one nation affect us? the us 2024 elections on out which is there

a unique perspective. we don't want to head to well, but we no longer have any private spaces on the incident. that's a scary well on heard voices a year into this genocide, it still remains large. one section to connect with our community and tap into conversation if you don't mind elsewhere, but humanity, the number of people who want to stop sending weapons has gone up and up despite what they hear in the mainstream media in the united states. the stream on algebra, he says he went toward towards syria to provide a lifetime entail was very interesting, but not in the eyes of his government. this has been out of home for so many years in the final parts of the series. we followed the story of a british age worker as he flees from it with his family after being arrested by a powerful village shop. one of the toughest times when they tortured me state list in syria on now to 0. there are some of the media stories,

a critical look at the global news media. on out to 0, government shut off access to social media. the on the final campaign push in the us, campbell harris and dawn from make that last appeal devises one day before they head to the polls. the sammy say them, this is i'll just ever live from dell hall. so coming up the light, this is riley striker, northern gauze that kills at least 15 palestinians as a month long seeds of the north, intensifies as well. pounds to you and it's canceling its agreement with the.