to allow the government to fund more investment. whats next for boeing? its boss says it's at a crossroads, with losses mounting to billions of dollars and an impasse with workers. there is not enough local people to do the work we need. how americans are struggling to balance a desire for lower immigration with a need for more young workers. british pubs face widespread closures — that's the warning from the boss of the country's biggest pub company. live from london, this is business today. i'm lukwesa burak. the uk government will change its self—imposed debt rules in order to free up billions for infrastructure spending. the uk chancellor rachel reeves said there will be a technical change to the way debt

is measured, which will allow it to fund extra investment. the wider debt measure is expected to allow for up to £50 billion more borrowing for investment, although not all of this is expected to be allocated in next week's uk budget. speaking on the fringes of an imf meeting in washington, the chancellor told our economics editor, faisal islam, more about her plans. first is the stability rule, that we will pay for day—to—day spending with tax receipts and we will meet that within this parliament. that's something the previous government never achieved, but it's really important for the sustainability of public finances. and the second rule is our investment rule, so that we can grow our economy and bring jobs and growth to britain. and we will be changing the measure of debt. i've listened to the imf, at annual meetings this week, who have been clear that we do need to free up more money

to invest in capital. as well as listening to people like gus o'donnell, mark carney, jim o'neill, who are all saying we need to invest more to grow our economy and seize the huge opportunities in digital, tech, life sciences, clean energy. but we will only be able to do that if we change the way we measure debt. the credibility of these rules is really important for everybody. for the public, for the markets. some might see this as a sneaky shuffle when you are in a tight bind fiscally, or are you embracing the idea that this is meant to, for example, maintain investment levels at 2.5%? first of all, the stability rule is the one that really binds, and it's hard to meet. that will require difficult decisions on spending, welfare and taxation. but there is a choice about whether we want to continue on this path of decline. the plans i have inherited from the conservatives see public sector net investment decline quite rapidly as a share of our economy. if we continued on that path,

we would miss out on other opportunities, and other countries would seize them. i don't want those jobs and investments going to other countries, i want to see them in britain because we have huge potential. but of course it's important that every pound of tax—payers�* money spent gets value for money, and delivers a return when you invest in big capital projects, so we will put in guardrails with the national audit office and the office for budget responsibility, validating the investments we're making to ensure we deliver that value for money, and to give markets confidence that there are rules around the investments we can make as a country. britain led the world on aid spending, but because of the interaction with the asylum budget, it could be that we spend less than 0.5% of gdp. on top of that, you are being asked for reparations of hundreds of billions, potentially, from some developing countries. what is going on in this space? one of the things that yvette

cooper at the home office is doing is getting a grip of the asylum budget. it was being overspent by £61; billion just this year when we entered office. the rwanda scheme, the cost of asylum accommodation. we are getting a grip of that. we have already set up the border command to ensure that people cannot make those illegal crossings, and we get a grip of the gangs who are exploiting some of the most vulnerable people in the world. but you are right to say that, at the moment, the aid budget is used for the accommodation of asylum seekers in the uk. if we can get a grip of that asylum budget, we can free up resource for what the intention of that budget was. and on reparations? we are not going to be paying out the reparations that some countries are speaking about. i understand why they make those demands, but that's not something this government will be doing.

joining me now is kallum pickering, chief economist at peel hunt. lovely to have you with us. these rules were so were they too rigid in the first?— too rigid in the first? they didn't focus _ too rigid in the first? they didn't focus the _ too rigid in the first? they l didn't focus the government too rigid in the first? they - didn't focus the government in the right direction. i'm a fan of changing these rules. the point of fiscal sustainability, the government is not a household, it's to put the economy on sustainable growth, and focusing narrowly on debt doesn't do that. shifting focus to investment like these rules do actually point to the government in the right direction when it comes to fiscal choices.— direction when it comes to fiscal choices. for many of us listening. _ fiscal choices. for many of us listening, we _ fiscal choices. for many of us listening, we would _ fiscal choices. for many of us listening, we would say, - fiscal choices. for many of us | listening, we would say, well, i'd like to redefine my debt. what do we mean by changing the definition of debt? it won't go away. definition of debt? it won't go awa . , ., ., away. there is an important oint away. there is an important point here. _ away. there is an important point here, which _ away. there is an important point here, which is - away. there is an important point here, which is the - point here, which is the definition of fiscal

sustainability is notjust sustainability is not just debt. sustainability is notjust debt. it's not about changing the rules to borrow more, the government could borrow more if it wanted and say to the markets, we are going to invest this money. but it forces the government to think about investment, because that lift productivity and potential growth. consideras productivity and potential growth. consider as follows, productivity and potential growth. consideras follows, if i borrow money in order to be able to earn more money in future, that improves my debt sustainability. but focusing on reducing my debt, if it reduces my ability to earn, that makes my ability to earn, that makes my debt dynamics much worse. so it fixes a problem even if in the short run you have to borrow a bit more.- the short run you have to borrow a bit more. there were two points _ borrow a bit more. there were two points brought _ borrow a bit more. there were two points brought up - borrow a bit more. there were two points brought up in - borrow a bit more. there were two points brought up in that i two points brought up in that piece with vital islam. first was the markets signalling they would be confident. —— wiz faisal islam. what would the obr be looking at?— faisal islam. what would the obr be looking at? they may not factor in growth _ obr be looking at? they may not factor in growth as _ obr be looking at? they may not factor in growth as a _ obr be looking at? they may not factor in growth as a result - obr be looking at? they may not factor in growth as a result of - factor in growth as a result of

the fire donald high investment, that might take time. investment plans are often quite long—lived. but the markets seem to be ok, we have seen interest rates rising on government debt a little, but sterling has appreciated alongside that. contrast that to october 2022 with the liz truss budget. sterling weakened, which showed money was flowing out of the uk. if i have one criticism of the chancellor, she said if the money doesn't end up in the uk it will end up somewhere else, that's not right. there is no reason other countries can't invest in things and we invest invest in things and we invest in things and we both become rich. it's not us or them, it's about getting the uk investing in the right way.— in the right way. thank you very much- _ what next for boeing? that's a question on so many people's lips at the moment. the plane—maker's boss kelly ortberg warned his company is at a crossroads,

as losses at the firm surged to roughly $6 billion. this week, striking boeing workers rejected a new offer from the plane—making giant, which included a 35% pay rise over four years. around 33,000 boeing employees have joined the walkout, which started on 13th september, after an initial offer was rejected. the white house said it was encouraging boeing and the union to continue working to reach a deal. with me here in the studio is our international business correspondent theo leggett. the plans to stabilise the business not quite going to plan? business not quite going to ian? ., ., , ., business not quite going to ian? ., ., ~ business not quite going to ian? ., ., , ., �* ., plan? not really, no. and now we are going _ plan? not really, no. and now we are going to _ plan? not really, no. and now we are going to see _ plan? not really, no. and now we are going to see more - we are going to see more pressure from the white house for the two sides to hammer out a deal that actually works. because having a strike going into an election period is not

something the biden administration would want. but in terms of bowing itself, it really needs to get this sorted. —— bowing. its fighting fires on a number of different plants. it's trying to sort out its quality and control and safety culture after years and years of problems. it has issues with aircraft programmes. the 777 x has been delayed until 2026. it has problems with its space programme, astronauts stranded in space, it's not a good look and it needs to fix the problems and reset relationships with its employees. i'm sure we're going to see another offer. it will have to offer more pay to employees but also there is a key question about what it does about pensions. ten years ago, boeing removed pensions from its workforce, defined benefit, when it was negotiating from a position of strength. that has caused deep long lasting resentment in the workforce, they want those tensions back.

boeing has made it plain that is not going to happen. so what will it offer instead to get a deal over the line? that is the big question. indie deal over the line? that is the big question-— big question. we have this defined benefit _ big question. we have this defined benefit pension. i big question. we have this l defined benefit pension. the union said this was a battle ten years in the making, they didn't get over that loss in 2014. do the workers risk destroying their company by continuing with this strike? because the numbers are eye—watering. because the numbers are eye-watering.— because the numbers are eye-watering. yes, it's at least $1 — eye-watering. yes, it's at least $1 billion _ eye-watering. yes, it's at least $1 billion per - eye-watering. yes, it's at| least $1 billion per month, eye-watering. yes, it's at - least $1 billion per month, up to $5 billion depending on the analysis you use. the risk is not the workers destroying the company but they weaken it. the fight over pensions may be they can't win, because lots of american companies dropped defined benefit pension schemes. none of them are bringing them back, so that's unlikely to happen. boeing has an order book full of planes, 4500 planes worth an estimated $500 billion. so in the longer—term, if it can sort out the problems now, there is a

path to prosperity in the future. but in the meantime, it is weakened, and that provides an avenue for a new rival to come in and break up the duopoly between boeing and airbus. waiting in the wings, a chinese company which has a plane that rivals the 737 max and the airbus a320, only produced in small quantities at the moment, but a week boeing would create an avenue into the wider market for the chinese company. wider market for the chinese company-— japan heads to the polls this weekend, and an acute labour shortage is one of many challenges facing the economy. it's estimated that the country will lack 11 million workers by 2040. whilst help may be on the way in the forms of robots, al or immigration, there's a new and growing industry that's forcing a change to the country's

inflexible labour market. mariko oi reports. imagine this — a reversejob interview where the worker gets to choose who they want to work for. this short film went viral on social media injapan this year, as the labour crunch shifted the power balance between employers and employees. now, what ifjob hunters could skip the interview process altogether and forget about the resume? timee is a matchmaking app for gig workers and employers, founded in 2018 it has nearly 300,000 businesses registered on the platform with some nine million users. it's an industry known as spot work, offering fast payment in return for a day's labour. the ceo was still a student when he started the company. translation: at the moment, more than 9096 of the work- is in logistics, retail and restaurants and bars.

due to the tourism recovery, hotels are also looking for workers as well as events and manufacturing. also, there is work in nursing and childcare, too. i guess for workers it's quite appealing not to have to submit to submit your cv, but isn't it risky from the employer's point of view that, if the workers arrived with zero skills, what can they do? just like uber, our system allows both sides to read it, so it almost acts as a resume. restauarants usually want a year's experience. for nursing and childcare, you must have a qualification, but this is the declaration injapan, employers need reliable workers to show up. you were a pioneer in the spot work industry, but there is increasing competition now. you charge businesses 30% of salaries as an introduction fee, but i guess others will start to undercut that, so how would you stand out? our priority is to have as many

workers as possible. as well as job offers that are convenient to users. others have undercut the introduction fee, but even if they're cheaper, if businesses cannot find the manpower, i don't believe they will use them, so we plan to keep charging the same fee. you said earlier that this service probably worked only because it was injapan, do you have any plans to expand overseas? other economies face similar issues of labour shortage as japan, such as south korea and taiwan, so we are looking to expand especially in asia. timee estimates the size of future markets in japan alone to be worth more than $25 billion. and we have mariko with us live now from our asia business hub. busy weekend ahead for the country with the elections. what other economic issues are the worried about? just

what other economic issues are the worried about?— the worried about? just like elsewhere. _ the worried about? just like elsewhere, the _ the worried about? just like elsewhere, the economy i the worried about? just like elsewhere, the economy is| the worried about? just like | elsewhere, the economy is a the worried about? just like - elsewhere, the economy is a top election issue. in a country which has long battled falling prices known as deflation, voters are now having to cope with inflation, and what makes it harder forjapanese consumers is it harderforjapanese consumers is wages it harder forjapanese consumers is wages haven't it harderforjapanese consumers is wages haven't gone up consumers is wages haven't gone up for decades until very recently. that's why when it was revealed that some lawmakers from the ruling party line their own pockets, the public got very angry. even in rural areas which have long been considered its stronghold, some are now reportedly considering voting for the opposition. the prime minister has pledged financial support, but as one opposition mp said, if you are young and live in big cities, you are automatically penalised because the social security system puts a huge financial burden on today's working generation to support the ageing population. also japan is known for a notoriously low turnout rate, especially among the young. the result will depend on whether

they go to vote. but it's fair to say that this is one of the toughest elections the ruling party has faced since it briefly lost power in 2009 for three years. briefly lost power in 2009 for three veere— three years. thank you, have a lovely weekend. _ around the world and across the uk. this is bbc news.

from fantasies about immigrants eating pets, to threats to deport millions of undocumented workers, immigration has been a big subject in the us election. in polls, voters frequently cite it as one of the subjects that is most important to them. but the campaign rhetoric rarely connects with the economic reality, which is that large—scale immigration is currently a vital part of us economic growth. ritika gupta has been to the heavily republican adams county in pennsylvania to see one example of that.

it is the peak of harvest season, when migrant workers travel to the us and spend their days toiling in fields. without migrant workers, a lot of places would be out of business, quite frankly. brett is a local grower in york springs, a tiny conservative leaning borough in adams county, pennsylvania. in more recent years, he has had to expand his workforce, predominantly with migrant workers from mexico. they operate under the h2a temporary agricultural workers visa. there is not enough local people to do the work we need. they also provide a very stable and reliable workforce. most of the men return year after year, so they are experienced and able to hit the ground running, and they train new people themselves. here in adams county, pennsylvania, growing sustains the local economy. the area is located in the heart of a fertile valley ideal for cultivating everything from flowers to fruit and vegetables.

but the vitality of the region's agriculture industry and its ability to meet its labour needs rely heavily on foreign labour. if the farmers would not be able to harvest all of their fruit and vegetables, they would not be able to feed their own families, they would not be able to pay their local taxes, they would not be able to contribute back to society. and if we would have no harvest, our food chain would be disrupted. our fruit and vegetables go all across the country. immigration has become a top issue for voters in the 2024 election. the polls show a majority of americans want the numbers to be reduced. but like many developed countries, the us is confronting an ageing society and facing long—term population decline. if immigration is lowered to

zero, in the next 35 years, the population of 18—44 years old, people who are going to contribute almost entirely the future workforce, that will shrink by 20%. so you can see what kind of huge impact policy without immigration would have on the us economy, and society. this has prompted some states and municipalities, even in predominantly republican areas like this, to distance themselves from the wider anti—immigration sentiment. and for some growers like brett, immigration is critical for for some growers like brett, immigration is criticalfor his business to survive. the immigration is critical for his business to survive. the crops would rot _ business to survive. the crops would rot on _ business to survive. the crops would rot on the _ business to survive. the crops would rot on the vine, - business to survive. the crops would rot on the vine, we - business to survive. the crops l would rot on the vine, we would not be able to do all this plant production without the migrant workers. the boss of nvidia is in india and has announced a partnership with the reliance group, run by asia's richest man, mukesh ambani, and several other companies, to build

artificial intelligence infrastructure. at a summit in mumbai, jensen huang also spoke about what india's ai future might look like as he launched a hindi ai model. our india business correspondent, nikhil inamdar, sent us this report from mumbai. nvidia said it will supply its ai processors for reliance's data centres and announced a tie—up with other indian companies, like tatar communications, tcs and infosys, who are looking to expand their cloud infrastructure in india. so i hope to partner with all of you to enable india... the company bossjensen huang was attending an ai summit in mumbai and said he believed india, which is one of the world's largest software outsourcers, will be exporting artificial intelligence going forward. one of the greatest advantages india has is a very large population of users.

so now you have the fundamental ingredients — ai, data, and ai infrastructure — and you have a large population of users that ultimately creates your ai flywheel. mr huang said his company's revenues from india were small right now, but its hopes for the country, which has been trying to develop a nascent chip—making industry, were large. the company said it would be rolling out a hindi language ai model in india to help local businesses drive activities like content translation and ai assistance. this builds on its view to make artificial intelligence more inclusive and tailored to the diverse and particular needs of each country. pubs face widespread closures unless the chancellor announces an extension to business rates relief in next week's budget.

that's according to a warning by the uk's biggest pub company. david mcdowall, boss of stonegate group, whose pubs include slug & lettuce, yates's and walkabout, said thousands of landlords currently make just 12p of profit for every pint of beer they sell. let's cross now to craig erlam, independent market analyst. this rates increase, they want an extension. was it enough in the first? i an extension. was it enough in the first? ~ �* , an extension. was it enough in the first? ~ �*, . . , the first? i think it's clearly softened — the first? i think it's clearly softened the _ the first? i think it's clearly softened the blow, - the first? i think it's clearly softened the blow, but - the first? i think it's clearly softened the blow, but this the first? i think it's clearly i softened the blow, but this is an industry that has been struggling for years, we have seen increasing pub closures for the last ten or 15 years. on quite a significant basis as well. what the business rates cut in the last couple of years has done is just enabled them to continue to survive in many cases. but we seem to hear to continue to survive in many cases. but we seem t