this is bbc news — these are the latest headlines in the uk and around the world. more countriesjoin the us and uk in urging their citizens to leave ukraine immediately, as the us warns that russia could invade within days. if president putin decides to take military action, we will swiftly impose severe economic sanctions in coordination with allies and partners around the globe. borisjohnson receives a legal questionnaire from police investigating lockdown parties at downing street and whitehall. large numbers of people have defied an injunction against the protests in the canadian province of ontario. the so—called �*freedom convoy�* seems to have inspired copycats around the world. in france, president macron calls for calm.

hello and welcome if you're watching in the uk or around the world. president biden is to speak to vladimir putin by phone after the united states warned a russian invasion of ukraine could come "at any time". moscow has repeatedly denied planning to invade. the british and us governments have called for their citizens to leave ukraine immediately. they've been joined by the governments of australia, canada and the netherlands — who are also urging their citizens to leave as soon as possible. a few hours ago, the us secretary of state says america are prepared either way if russia chooses diplomacy or aggression. with the latest. here's our north american editor sarah smith. the russians are not trying to camouflage these military

exercises that troops are conducting in belarus, near the ukrainian border. these pictures were provided by the russian defence ministry. has vladimir putin decided to order these troops into ukraine? the us says they simply don't know, but they believe he is in a position to do so, so they are escalating warnings military action could be imminent, possibly within days. now, we can't pinpoint the day, at this point, and we can't pinpoint the hour. but what we can say is that there is a credible prospect that a russian military action would take place even before the end of the olympics. borisjohnson and other european leaders joined a call convened by president biden, along with nato chiefjens stoltenberg. johnson urging allies to have ready punishing economic sanctions against russia. with fears that aerial bombing and missile attacks against kyiv could proceed any ground invasion, brits in ukraine are being urged to leave. america is wanting its citizens us forces will not go into ukraine

to rescue them. that's a world war, when americans and russians start shooting at one another, we're in a very different world than we've ever been in. not even on behalf of simply evacuating americans? how do you do that? how do you even find them? "things could go crazy very quickly." that is how president biden put it when he repeated his warning to all american citizens to leave ukraine. the administration is also withdrawing all officials from the country, and that is because there is deep concern in washington that if someone were to get killed or injured it would then be very difficult to avoid a major escalation in tensions between america and russia. the defence secretary, in moscow, heard again russian assurances there are no plans to invade, but left less optimistic about the chances of a diplomatic solution. look, it's all about actions. currently, there's over 100,000, over 130,000 troops stationed "at readiness" or "exercising." plus warplanes, plus ships into the black sea, on the borders of ukraine. and that is an action

that is not normal. us forces are already being deployed to poland and romania to bolster those nato allies on ukraine's border, with an additional 3,000 troops being announced as the white house warns a conflict they think could begin any day now would bring enormous human cost. sarah smith, bbc speaking on a visit to fiji, the us secretary of state anthony blinken said he was planning to hold talks with his russian counterpart sergei lavrov later today. he said the us was prepared either way if russia chooses diplomacy or aggression. we and our allies have made it crystal clear to moscow. if president putin decides to take military action, we will swiftly impose severe economic sanctions in coordination with allies and partners around the globe and bolster ukraine's ability to defend itself and reinforce our allies on the eastern flank of nato. to

underscore this unity and resolve, when i speak with russian foreign minister sergei lavrov later this evening, i will also make clear, as i have consistently that if russia is genuinely interesting resolving a crisis of its own making through diplomacy and dialogue, we are prepared to do that. in fact, that is our preferred path. it is the right and responsible thing to do. but it must take place in the context of de—escalation. so far, we have only seen escalation from moscow. 0ur diplomatic correspondent paul adams is in kiev and told us more about the mood there. it remains to this macro weir contrast between the dire warnings from washington and the calm and normality in kyiv with the government appearing to insist that nothing much has changed. and it raises the question, the question we've been asking ourselves quite a bit in recent days, what are the americans on the british seeing that

the ukrainians are not seeing? becausejudging by the the ukrainians are not seeing? because judging by the tone ofjake sullivan in his press briefing in washington yesterday evening, there is a real serious belief in washington that this is now almost imminent and washington that this is now almost imminentand an washington that this is now almost imminent and an attack of pretty spectacular proportions could begin in the coming days, but you wouldn't know it from kyiv. people are going about their daily lives and when you talk to them they all say that they are making preparations and have stored up a little extra food and they do have possible plans to drive to the west of the country but the government, as i say, is still not doing anything public, anything national to alert the population for what could be, and i underline the words could be, about to happen. i'm joined now by the uk's minister for the armed forces, james heappey thank you forjoining us. do you think conflict is imminent? i think there is a grave _ think conflict is imminent? i think there is a grave possibility, - think conflict is imminent? i think there is a grave possibility, and l there is a grave possibility, and there is a grave possibility, and

the reason you have seen such a shift in messaging from western governments to their citizens in ukraine in the last 2a hours is that the russian troop build—up has now reached such a point that with no notice it is possible that an attack could be launched and the complexity of the weapons systems on the borders of ukraine, the artillery and missile systems and combat air means that those strikes could be deep into ukraine. that's not to say there isn't an opportunity for diplomacy to win through but the responsibility as government is to be clear that with no notice deadly attacks could be launched and people should leave immediately. i5 attacks could be launched and people should leave immediately.— should leave immediately. is there a dancer should leave immediately. is there a danger of this _ should leave immediately. is there a danger of this ratcheting _ should leave immediately. is there a danger of this ratcheting up - should leave immediately. is there a danger of this ratcheting up and - should leave immediately. is there a danger of this ratcheting up and may be stoking a path to conflict. russia says that an invasion is imminent and russia says that an invasion is imminentand are russia says that an invasion is imminent and are those dangerous lies? ., ., ._ , ., lies? there are two ways of answering _ lies? there are two ways of answering that. _ lies? there are two ways of answering that. firstly, - lies? there are two ways of answering that. firstly, if i lies? there are two ways of - answering that. firstly, if russia wanted to reassure that that was not

the case, it could stop sending troops to the board of ukraine and yet even as we speak more continue to flow forward and there is no over hundred and 30,000 troops around the land borders of ukraine with thousands more at sea in amphibious shipping in the black sea. but at the same time there is a balance of responsibility. there is a responsibility. there is a responsibility to uk citizens who might be in ukraine and we need to be clear with them about what the dangers are anti—tell them to leave, but that is us planning for the worst. and also we continue to hope for the best and ben wallace was in moscow yesterday and had a very frank and constructive conversation and both sides have to believe we are listening to each other and believing each other if talks are to proceed and over the weekend on the first part of next week there will be a lot of people trying to have those conversations and that is the only way we come out of this conflict and i really hope it works. just in terms of british citizens in the ukraine, what happened in

afghanistan was not long ago and that presumably will be informing decisions being taken around when a warning that goes to citizens to leave and what might happen if they become trapped. in the event of conflict. what would happen if uk citizens are stuck if there is a conflict. president biden has said american troops would not going to take out american citizens. you american troops would not going to take out american citizens.- take out american citizens. you are riaht take out american citizens. you are ri . ht to take out american citizens. you are right to raise _ take out american citizens. you are right to raise that. _ take out american citizens. you are right to raise that. the _ take out american citizens. you are right to raise that. the concern - right to raise that. the concern many of us having government both in london and washington is that travel advice from many countries, for afghanistan, changed in april and four months later when kabul fell there were still thousands of people there were still thousands of people there who had deplored the travel advice and in that circumstance, deadly as the islamic state are, there was no air war going on, so kabul airspace was permissive and we were able to do what we did. this is a totally different thing. firstly, travel advice changes because it

needs to change and the threat is imminent and people should leave immediately and if there are fighter jets and artillery shells flying backwards and forwards it would be impossible like the one we saw in the summer and was commercial air is still available. the the summer and was commercial air is still available.— still available. the british embassy in k iv still available. the british embassy in kyiv remain _ still available. the british embassy in kyiv remain staff? _ still available. the british embassy in kyiv remain staff? unlike - still available. the british embassy in kyiv remain staff? unlike the . in kyiv remain staff? unlike the american embassy? the in kyiv remain staff? unlike the american embassy? the embassy has dro ed american embassy? the embassy has dronped into — american embassy? the embassy has dronped into the _ american embassy? the embassy has dropped into the appropriate - american embassy? the embassy has dropped into the appropriate posture | dropped into the appropriate posture but in terms of planning for the worse, leave now, but hoping that the best in keeping diplomatic channels open in order to have a meaningful diplomatic engagement, you need the trilateral engagement with the ukrainians, russians and allies in the west so the foreign office are brave but right to calibrate what remains in ukraine so we can continue to play a part in diplomacy, but at the same time that should not mean to anybody watching in ukraine today that they should

think of that as reassurance. they should heed my advice on what they have heard from government and leave now. in have heard from government and leave now. , ., ., now. in terms of meaningful negotiations, _ now. in terms of meaningful negotiations, i'm _ now. in terms of meaningful negotiations, i'm sure - now. in terms of meaningful negotiations, i'm sure you i now. in terms of meaningful l negotiations, i'm sure you will now. in terms of meaningful - negotiations, i'm sure you will have seen the quote from russia's foreign minister, sergei lavrov, after the talks with liz truss it was like a mute person talking to a deaf person and what she is saying publicly, the message to moscow, that russian troops must leave is what is being said privately as well, there is no sense of there being a dialogue of trying to foster understanding in terms of resolving this dramatically. how do you respond to that? , , ~ dramatically. how do you respond to that? , , ,, ., dramatically. how do you respond to that? , , ~ ., ., that? firstly, i think that what ha--ens that? firstly, i think that what happens in — that? firstly, i think that what happens in the _ that? firstly, i think that what happens in the private - that? firstly, | think that what | happens in the private meeting versus the rough—and—tumble of a public press conference is often very different and... that public press conference is often very different and. . ._ very different and... that is the oint he very different and... that is the point he is _ very different and... that is the point he is saying. _ very different and... that is the point he is saying. he _ very different and... that is the point he is saying. he says - very different and... that is the | point he is saying. he says there very different and... that is the i point he is saying. he says there is no distinction between what is being said publicly. there is in the understanding of what the diplomatic

path might be and emmanuel macron is looking at the minsk agreement and trying to focus on that and said there was no level of engagement at all on that being a way through. ben wallace's conversations yesterday very much focused on minsk as a potential off ramp and i know that liz was able to land those same messages but a bit of different stage management to how the visits ended with a joint press conference in which sergei lavrov had messages that he needed to land with the russian public and liz she had messages she wanted to land with russia and the international community and at home. ben did something differently but fundamentally we should be clear it's not easy. lots of people going to moscow in person or over the phone over the weekend and into next week will stop every last conversation counts. this is all about trying to find the route through which confidence can be restored and effort on the part of

the west to understand russian nervousness and to try to reassure about what our intent is, and on the part of russia for them to show not just with their words but actions that they genuinely are not meaning to threaten ukraine's territorial sovereignty. d0 to threaten ukraine's territorial sovereignty-— to threaten ukraine's territorial sovereignty. do you believe the minsk agreement _ sovereignty. do you believe the minsk agreement is _ sovereignty. do you believe the minsk agreement is the - sovereignty. do you believe the i minsk agreement is the diplomatic way through this? i minsk agreement is the diplomatic way through this?— way through this? i think it is as aood an way through this? i think it is as good an agreement _ way through this? i think it is as good an agreement as - way through this? i think it is as good an agreement as any - way through this? i think it is as| good an agreement as any other way through this? i think it is as - good an agreement as any other but there are lots of other confidence building mechanisms that existed during the cold war and still existing treaty and those that were brought in that came into existence since the cold war and there are lots of things that if we could get the talks to continue long enough, there are mechanisms that exist through which the international community in russia can work together to develop an understanding. the relationships, as the minister said, understanding. the relationships, as the ministersaid, had understanding. the relationships, as the minister said, had reached zero. ben wallace felt they had made it to above zero and clearly there is a very long way to go, but believe me, all of that diplomatic effort is a

million times better than the utterly catastrophic consequence of what could follow if it resorts to conflict. �* g ., �* what could follow if it resorts to conflict. �* , ., �* _ , conflict. and when joe biden says that the measures _ conflict. and when joe biden says that the measures that _ conflict. and when joe biden says that the measures that russia - conflict. and when joe biden says| that the measures that russia will see if there is conflict will be the like of which russia has not seen before, what would that look like? i think it would be an extraordinarily punitive set of financial sanctions. i don't know that it would be appropriate for me to speculate on what they were to be and i have not beenin what they were to be and i have not been in the meetings in which the detail of them has been discussed. that language suggest it would be at the highest level and the thing that seems to be on the table in the context of that is withdrawing the system of international payments. i would want to speculate about whether swift was in the package or not but it's important to be clear that all of the right world leaders are involved in the conversation and all of them share a determination to make sure that the sanction that really matters is, in terms of the

level of package, is appropriate to deter and vladimir putin should know we mean it. by the same token, it's really important that we are clear that this is about sanctions are not a military response. as you heard president biden saying, rightly, this could all escalate very, very quickly if western troops by themselves for whatever reason in ukraine if this turns into a conflict, and that is why i've been clear and ben wallace has been clear and the prime minister and the president of the us have been clear that there will not be british troops or american troops in ukraine if there is a conflict between ukraine and russia.- if there is a conflict between ukraine and russia. ~ . ., ., ukraine and russia. what about other forms of military _ ukraine and russia. what about other forms of military intervention? - ukraine and russia. what about other forms of military intervention? no. i forms of military intervention? no. no air strikes? _ forms of military intervention? no. no air strikes? anything _ forms of military intervention? no. no air strikes? anything kinetic - no air strikes? anything kinetic from the western _ no air strikes? anything kinetic from the western alliance - no air strikes? anything kinetic from the western alliance into l from the western alliance into ukraine when they are in a conflict with russia would provoke retaliation that could this become something unimaginable within minutes. ~ ., ., . . ., ,

minutes. would economic sanctions thou:h not minutes. would economic sanctions though not have _ minutes. would economic sanctions though not have a _ minutes. would economic sanctions though not have a different - minutes. would economic sanctions though not have a different but - though not have a different but potentially similarly difficult response from russia questioned its my belief that would be the case but obviously that is why world leaders are calibrating their response this weekend. ., ., ., ., , weekend. you have to do everything necessary to — weekend. you have to do everything necessary to deter _ weekend. you have to do everything necessary to deter president - weekend. you have to do everything necessary to deter president putin l necessary to deter president putin from the action we fear he may be about to take, but we've also got to be very clear about the risk escalating in a way that is quite terrifying. this is the largest concentration of troops on the european continent in 70 years and the complexity and sophistication of the complexity and sophistication of the weapon system is now massed around ukraine are unimaginable. it would be a war like nothing we have seen before. you would be a war like nothing we have seen before-— seen before. you have 'ust use the word terrifying h seen before. you have 'ust use the word terrifying to h seen before. you have 'ust use the word terrifying to talk _ seen before. you have just use the word terrifying to talk about - seen before. you have just use the word terrifying to talk about the i word terrifying to talk about the prospect of what may lie ahead. we know that the prime minister has now been given a questionnaire from the police that he has to answer over what happened at downing street in terms of parties during lockdown.

can he be fully focused on what is happening in ukraine when he has that going on as well? yes. how? well, he is. — that going on as well? yes. how? well, he is. i — that going on as well? yes. how? well, he is, i saw— that going on as well? yes. how? well, he is, i saw with _ that going on as well? ya; how? well, he is, i saw with my own eyes he was in the meeting yesterday with uk, germany, france, italy and the leaders of the european union and nato and he will be reading some really very eye—opening intelligence briefs all day every day and he and the government are in now a very regular routine of national security council meetings and cobra meetings and i've every confidence that the prime minister will fill out the questionnaire and return it to the metropolitan police, as he must, but i don't think for a second it will distract him from leading the international response at a time of acute geopolitical crisis.— acute geopolitical crisis. nobody would find filling _ acute geopolitical crisis. nobody would find filling in _ acute geopolitical crisis. nobody would find filling in a _ would find filling in a questionnaire from the police particularly when they have the position that the prime minister has and the potential impact on their

moral authority, and the potential impact on their moralauthority, nobody and the potential impact on their moral authority, nobody could find filling in a questionnaire like that something that canjust filling in a questionnaire like that something that can just be done and passed on, could they? i something that can just be done and passed on, could they?— something that can just be done and passed on, could they? i don't know. i've not passed on, could they? i don't know. we not seen — passed on, could they? i don't know. i've not seen the _ passed on, could they? i don't know. i've not seen the questionnaire - passed on, could they? i don't know. i've not seen the questionnaire and l i've not seen the questionnaire and i've not seen the questionnaire and i don't know the complexity of the questions. 0ne i don't know the complexity of the questions. one would imagine that they are all questions at the prime minister is able to answer but as politicians and leaders in government we all still have lives beyond in which we have to do our personal administration and it means sometimes you have some pretty long days but so too will you in journalism as you will spend all day behind your desk and in the evenings you have to get your personal stuff done. he you have to get your personal stuff done. . ~ . done. he is the prime minister -- the first prime _ done. he is the prime minister -- the first prime minister— done. he is the prime minister -- the first prime minister in - done. he is the prime minister -- the first prime minister in living i the first prime minister in living memory to be questioned under caution and when tony blair was facing the possibility of questions over cash for honours, he said if he were questioned under caution as suspect it would have made the position untenable and he would have been questioned as a witness, so does the same not apply to the prime minister in this context? that

iosition minister in this context? that position from _ minister in this context? that position from tony _ minister in this context? that position from tony blair - minister in this context? that position from tony blair might have been his downing street operation trying to engineer a more acceptable circumstance in which the media might cover his involvement in the investigation. if the suggestion is that the you —— that the prime minister being questioned under caution is a confirmation of his guilt, that is not the way the investigation and legal system works. the prime minister is being questioned through the questionnaire under caution but it doesn't mean for a second anyone has found him of anything. for a second anyone has found him of an hini. . .. for a second anyone has found him of an hini. ., ,, i. for a second anyone has found him of an hini. . , . 0ur politics reporter matt cole has more on this now we know the prime minister has the questionnaire to fill in, what is the latest on that and what other people are being questions on the framework around it and what happens next? the framework around it and what happens next? ~ . framework around it and what happens next? ~ , , ., ., next? the prime minister is one of 50 --eole next? the prime minister is one of 50 peeple who _ next? the prime minister is one of 50 people who are _ next? the prime minister is one of 50 people who are getting - next? the prime minister is one of 50 people who are getting one - next? the prime minister is one of 50 people who are getting one of i 50 people who are getting one of these e—mails but downing street say they will not go into details about who else has got one and there have been questions about whether the

prime minister's wife carriejohnson has received one but downing st say no and there is overwhelming public interest in giving us the detail about the prime minister but they will not start engaging in other details about who might have won. from the moment of receiving one of these the recipients have seven days to answer and they have to do that truthfully and the documents to be filled in is to be considered an equivalent to being questioned on the police caution and it's not the same as being in a room of police officers bombarding you with questions but it is a serious document and has to be done truthfully and has to be back within seven days. of course, the fact that one of these has been given to the prime minister does not mean to say he will be found guilty. and he might be issued with a fixed penalty notice but the politicaljeopardy is there and should he be facing a fine, some of his supporters say it is ok, he can carry on and others, other conservatives, not quite so sure that is the case and his

position could be deeply under threat if this is where this ends but it has a bit of time to run yet. thank you. an injunction has come into force in the canadian province of ontario, to end days of protests at a major crossing with the us. but large numbers of people are reported to still remain at the ambassador bridge, which connects canada with the us. police have been handing out leaflets that outline the penalties protestors will face under a state of emergency declared by ontario. it's the latest development as protests continue into their third week in canada. here's the bbc�*sjessica murphy. freedom! freedom!. in the canadian province of ontario a state of emergency has been declared on a court injunction to clear the bridge. it's a vital trade link between the us and canada that has been blocked for days. thei;r between the us and canada that has been blocked for days.— been blocked for days. they are ho . ini been blocked for days. they are ho-iin to been blocked for days. they are heping to wake _ been blocked for days. they are hoping to wake everybody - been blocked for days. they are hoping to wake everybody up i been blocked for days. they are l hoping to wake everybody up and been blocked for days. they are i hoping to wake everybody up and i think we have done a lot in the last five days here. it’s think we have done a lot in the last five days here-— five days here. it's unclear if or when police — five days here. it's unclear if or when police were _ five days here. it's unclear if or when police were moving -

five days here. it's unclear if or when police were moving to . five days here. it's unclear if or| when police were moving to end five days here. it's unclear if or- when police were moving to end the blockade but protest is voted on friday to stay. 50 blockade but protest is voted on friday to stay-— blockade but protest is voted on friday to stay. so we have option one, friday to stay. so we have option one. leave _ friday to stay. so we have option one, leave our _ friday to stay. so we have option one, leave our cacia _ friday to stay. so we have option one, leave our cacia and - friday to stay. so we have option one, leave our cacia and park - friday to stay. so we have option i one, leave our cacia and park them, get out, stand in front of the intersection and lock arms, no one is going nowhere. that intersection and lock arms, no one is going nowhere. fist a intersection and lock arms, no one is going nowhere.— is going nowhere. at a press conference _ is going nowhere. at a press conference called _ is going nowhere. at a press conference called to - is going nowhere. at a press conference called to address is going nowhere. at a press - conference called to address the crisis, and facing question —— pressure from the us, prime minister justin trudeau said the border blockade is a end.— justin trudeau said the border blockade is a end. president biden and i blockade is a end. president biden and i agree — blockade is a end. president biden and i agree that _ blockade is a end. president biden and i agree that for _ blockade is a end. president biden and i agree that for the _ blockade is a end. president biden and i agree that for the security i blockade is a end. president biden and i agree that for the security of| and i agree that for the security of people _ and i agree that for the security of people in— and i agree that for the security of people in the economy, these blockades cannot continue. so, make no mistake. _ blockades cannot continue. so, make no mistake, the border cannot and will not _ no mistake, the border cannot and will not remain closed. most truckers are _ will not remain closed. most truckers are vaccinated i will not remain closed. most truckers are vaccinated and l will not remain closed. most i truckers are vaccinated and still working their roots, but the chaos is causing supply chain shortages on both sides of the border and disrupting the auto industry. you are doini disrupting the auto industry. you are doing it _ disrupting the auto industry. you are doing it for _ disrupting the auto industry. gm, are doing it for yourselves. meanwhile anti—vaccine mandate protests are ending their third week in the national capital. supporters have descended on 0ttawa at the

weekend and protesters are still dug in. the government says everything is on the table to wind down the demonstrations but with no immediate strategy, it remains to be seen how the protests will end. president macron has appealed for calm as the so—called freedom convoy arrives in paris. thousands of drivers are arriving in the capital to blockade major roads in protest at france's continuing covid restrictions. the demonstrators say they are inspired by a blockade by truckers on the us—canada border. similar protests have been taking place in countries across europe, including austria, the netherlands and belgium. i'm joined now by anne elisabeth moutet, a journalist and commentator based in paris. welcome. how much support is therefore these protests in france? there is an element of support france, not everywhere, but it is a kind of revival of those demonstrations that we knew as the yellow vests three years ago before

freedom convoy —— covid. they have been partly sparked by emmanuel macron saying he wanted to annoy the non—vaccinated, which was not very presidential as a way of expressing things but did not take into account the feeling of separation and exclusion that lots of people had, and that converges with other reasons, the cost of living going up fast which is also taken into account and general discontent on the fact that it looks like this election is going to be once again a rerun of five years ago and we have the presidential election on the tenth and 24th of april, and as it is, emmanuel macron is the highest in the polls even though he doesn't have a majority for the first round, but he does in the second. there is a feeling of helplessness, i think, that sparks these movements. there is what happened in canada which inspired people and you have

facebook groups on the largest one has 250,000 members and this is how they are organised. iloathed has 250,000 members and this is how they are organised.— they are organised. what is the latest on where _ they are organised. what is the latest on where the _ they are organised. what is the latest on where the restrictionsj they are organised. what is the i latest on where the restrictions are in france and the issue of compulsory vaccination, and where that might go and how long there might be to run on it? of course, in the uk, we see the restrictions potentially in the next couple of weeks all about to go completely? shes weeks all about to go completely? 55 it weeks all about to go completely? is it is, we have changed the covid pass to a vaccine pass which means that you are having had covid does not count any more and you're having had a negative test doesn't count any more, you need to have been vaccinated and it was very much by the authorities that this was something to push people being vaccinated and it's even as coercion by some people and the fact is that the present having said he really wanted to annoy people who were not vaccinated means they cannot take trains, except a small commuter

train. . .. trains, except a small commuter train. . ~' ,, trains, except a small commuter train. . «i . trains, except a small commuter train. . . ., ., train. thank you so much for “oining us. i 'ust train. thank you so much for “oining us. i just wanted i train. thank you so much for “oining us. i just wanted to i train. thank you so much for “oining us. i just wanted to say i train. thank you so much for “oining us. i just wanted to say ifi train. thank you so much forjoining us. i just wanted to say if you i train. thank you so much forjoining us. i just wanted to say if you were | us. ijust wanted to say if you were offended by that use of language when she was quoting president macron, we apologise. it was a literal quote from what he had said. you are watching bbc news. protests are planned across the uk to highlight the cost of living crisis and to demand higher wages to keep pace with prices. inflation is at its highest rate for 30 years, having risen to 5.4% in the year to december. professor ethan ilzetzki is from the london school of economics and has been looking at the reasons for inflation in the uk. so what are the reasons then? it's a global phenomenon, isn't it? yes. so what are the reasons then? it's a global phenomenon, isn't it? yes, so we should take _ global phenomenon, isn't it? yes, so we should take into _ global phenomenon, isn't it? yes, so we should take into account - global phenomenon, isn't it? yes, so we should take into account that i global phenomenon, isn't it? yes, so we should take into account that we i we should take into account that we are seeing this in the united states, in europe, so this is not something unique to the united kingdom and many other factors are

such as shortages, critical components and things like microchips into production and we've seen queues of ships at ports, so ships are not keeping up with deliveries and we all remember the fear in november that we do not not be able to purchase christmas gives and they wouldn't arrive on time so these are global phenomena with what we call supply chains and these are the main forces causing inflation. why is this? is it because of the pandemic and the shutdown? the -andemic pandemic and the shutdown? tie: pandemic has obviously hit countries worldwide and production these days is lowball so if in one country there is a shortage of workers because of lock downs or infections. then that can really impede the production of goods in other countries as well. is production of goods in other countries as well.—

production of goods in other countries as well. is brexit a factor as _ countries as well. is brexit a factor as well? _ countries as well. is brexit a factor as well? absolutely. l countries as well. is brexit a - factor as well? absolutely. another factor as well? absolutely. another factor that is _ factor as well? absolutely. another factor that is leading _ factor as well? absolutely. another factor that is leading to _ factor as well? absolutely. another factor that is leading to higher i factor that is leading to higher prices is a shortage of workers, particularly in hospitality industries and the rest of the restaurant industry and these shortages are exacerbated by the fact and uninvited workers to the united kingdom, so the pressure on prices would be far less would be far less great had brexit not happen. 50 far less great had brexit not ha en. ., far less great had brexit not hauen. . ., , far less great had brexit not hauen_ . ., , . far less great had brexit not ha..en_ ., ., , ., far less great had brexit not hauen_ . ., , . happen. so what does that say about where things — happen. so what does that say about where things go _ happen. so what does that say about where things go in _ happen. so what does that say about where things go in terms _ happen. so what does that say about where things go in terms of- happen. so what does that say about where things go in terms of how i where things go in terms of how short or long term the issues might be, when there are obviously two diverse factors there? the factors themselves. _ diverse factors there? the factors themselves, brexit _ diverse factors there? the factors themselves, brexit is _ diverse factors there? the factors themselves, brexit is the - themselves, brexit is the longer—term problem in the supply chain problems will resolve themselves this year, but one should

keepin themselves this year, but one should keep in mind that ultimately inflation is something that is under the control of the bank of england and the bank of england has a mandate and target to keep inflation at 2% and they like everyone else were taken by surprise by the high inflation late last year and early this year but if inflation was to continue and the cost of living were to continue, this would be on the bank of england, because they have the tools and the mandate to avoid inflation from entrenching itself and being persistent. but inflation from entrenching itself and being persistent.— inflation from entrenching itself and being persistent. but when you sa the and being persistent. but when you say the tools. _ and being persistent. but when you say the tools, the _ and being persistent. but when you say the tools, the obvious - and being persistent. but when you say the tools, the obvious one i and being persistent. but when you say the tools, the obvious one is i and being persistent. but when you say the tools, the obvious one is in | say the tools, the obvious one is in interest rates going up. and that impacts as well on cost of living. interest rates will have to go up to avoid inflation and as sad as we all will be to see our mortgage payments

go will be to see our mortgage payments 9° up will be to see our mortgage payments go up and to see, as sad as businesses will be to see their borrowing costs going up, we should keepin borrowing costs going up, we should keep in mind that we have lived over the past decade through a period of unprecedentedly low interest rates, so people who are old enough will recall a period in which interest rates were not one or 2%, but rather closer to four and 5% and i think we will have to get used to the fact that in the long run we will return to interest rates at those levels. and you talk about domestic borrowers but there is also the government with very high levels of debt, so it will impact in ways that are not necessarily completely obvious immediately. yes, so the borrowing cost of the government will go up too if and when interest rates do go up. the british government has very able borrowing capacity, and not

concerned about the