iain: yeah, we think it is.initely, if we get up towards 7%, that would be a line in the sand for us. the reality is spreads got tight, people got excited, and we had some decent repricing. everybody was noticing that high-yield managed to absorb all of the rates back up -- we have seen yields push-up. jon: a look of the equity markets situation struggling to stabilize, really, really messy in new york. for the credit guys, do you sit here and say i am looking at fixed income and i do not see a credit problem? can you say that with conviction? matt: you can. you have to remember, equities did extend the run up while credit still stays, so some of this is a catch-up of the equity markets. you really still struggle to see meaningful problems that can really manifest over the next year or two. credit quality looks decent. it is better the closer you get to the consumer and further away from e.m. and corporate risk. jon: priya? priya: do you worry about the bond outflows because we had a pretty big bond outflow last

iain?an: iain: i would like to see what is going on in italy over the next week. budget and we have got concerns regarding the levels that are likely to be announced for next year that has been pushed back. i think that would be a very interesting to see how that plays out over the first few days of next week. jonathan: are you confident that we will not cross that 400 basis point line in the sand? iain: from where we are today, we are around 300, 400 is a long way away. let's talk about that when we get there. jonathan: a couple of days. iain: [laughter] i think it takes something big to get us up to that sort of level. when we look at italy and we look at the rest of the periphery, they are starting to be levels that are attractive. jonathan: matt? matt: cmi is important and china is important. but we think the narrowing has some benefits. less uncertainty. this war could become a bit more dangerous. we also think a dissecting the earnings for signs of inflation is critically important. it will be a real focus in the next two weeks. any signs of more inflationar

iain: steepener. up with you, catch matt toms, priya misra, and iain stealey.york city, that does it for us. we will see you next friday at 1:00 p.m. in new york time. for our worldwide, this was bloomberg "real yield." and this is bloomberg tv. ♪ ♪ >> i am mark crumpton with first word news. turkey is rejecting president u.s.'s assertion that pressure contributed to the release of house arrest for american pastor brunson. he was freed today following his conviction on charges related to the failed 2016 coup. the president of turkey's said of president trump quote, "we would like to mind him, that turkey is a democratic country with the rule of law and that turkish courts are independent." saysr brunson's lawyers a he is expected to return to the united states. colonelton apologizing to catholics in the archdiocese after his resignation due to cover-up scandals. they accused the kernel of -- the cardinal of protecting abusing priests. >> the cardinal had presented his resignation to the pope today. todayb--the pope accepted

i agree 100% with iain.trump on fox news saying that the crime did not take place on american soil. that he's not an american citizen. and we have 110 billion dollars' worth of arms deals so we should not swallow this. we should actually go ahead with business. so it means it is a huge encouragement to other people in the middle east to kill journalists, or kill anybody. it means money is more important than human rights. it means deals are more important than freedom of expression. it is shocking! this is the man, the leader of the free world, and we're not talking about russia, we are talking about the united states. so these kinds of attitude against journalists, to give priority to arms deals, i think it is shocking, to be honest. in europe this year, fourjournalist have been killed. so we are witnessing a kind of escalation of violence against the messengers. and that is a very big issue. i think that there is a problem in saudi arabia. we have also to denounce and to look very carefully at what is happ

and iain armitage. featuring jon batiste and stay human.ve on tape from the ed sullivan theater in new york city, it's stephen colbert! ( cheers and applause ) ( band playing ) >> stephen: c'mon! hello! hey! ( cheers and applause ) ( band playing ) thank you! please! gorgeous, amazing, amazing! wow, that is an amazing crowd. that's an amazing thursday night crowd. those people feel like a friday crowd. >> jon: yes, they're feeling good out here, boy. >> stephen: that's how good this thursday crowd is. ( laughter ) welcome to "the late show," everybody. i'm your host, stephen colbert. let's see-- ( cheers and applause ) ( piano riff ) where were we when we last met? oh, right! the big story continues to be supreme court nominee and man like 80% sure he's going to make it to the bathroom in time... ( laughter ) brett kavanaugh. see, kavanaugh's confirmation has been thrown into turmoil since he was accused of sexual assault by dr. christine blasey ford. now, dr. ford is willing to testify, but she wants an f.b.i. investigation first. that ide

|j agree 100% with iain.o listen to president trump on fox news saying that the crime did not ta ke news saying that the crime did not take place on american soil. that he's not an american citizen. and we have 110 billion dollars worth of arms deals so we should not swallowed this. we should actually go ahead with business. that is what trump said. so it means it is a huge encouragement to other people in the middle east to killjournalists, or kill anybody. it means money is more important than human rights. it means deals are more important than freedom of expression. that is shocking. this is the man, the leader of the free world, and we're not talking about pressure, we are talking about the united states. —— not talking about russia. so this attitude against journalists, not talking about russia. so this attitude againstjournalists, to give priority to arms deals, i think it is shocking. in europe this year, four journalist have been it is shocking. in europe this year, fourjournalist have been killed. s

likes of iain duncan smith and other politicians, they're angry about the fa ct politicians, they'rel continue now possibly until 2021. so indeed there are strong rumours that britain would be open to extending the so—called transition stage, under which everything would remain the same. now, the idea is to get a little bit more time to them agree what is called a tca, a temperate customs arrangements, whereby at the british would align themselves to the eu's customs, but whereby they would have a say over when to effort that arrangement. now, the thing is, evenif that arrangement. now, the thing is, even if there is an extension, it doesn't mean that the eu side has to agree such a temporary customs arrangement and that would mean if they wouldn't agree that britain would slip into backstop status, which means that they would slip into a status where, indeed, the european side would be able to veto when britain regains its trade powers and i think it is normal that the uk is quite reluctant to agree to that. so, to get to a sustainable solution, the eu should basically simply accept

the iain watson reports. last time the prime minister r her the last time the prime minister met her leaders in september, things didn't exactly go to plan. she was told the ideas for a new trading relationship after brexit wouldn't work on the president of the european council posted this photograph on instagram suggesting the british government couldn't have its cake and eat it, oi’ couldn't have its cake and eat it, or cherry pick the best bits of the european single market. so perhaps it is not surprising that expectations of progress of this month's summit are low. this is what the eu council president said yesterday. if i look beyond the source of hope for a deal for now, if the goodwill and determination on sides, however, for a breakthrough to ta ke sides, however, for a breakthrough to take place, besides goodwill we need new facts. before she even gets to brussels, theresa may will face further scrutiny from the opposition and very likely from some in her own party in pmq ‘s. then she will face 37 european leaders before the golf madejust 37 european leaders before the golf

well, let's speak now to iain mchenry, originally from belfast, who has been living in tallahassee inst a year with his american wife. hejoins me live on the phone from there. thank you very much forjoining us. just tell us, first of all, what is it like where you are? hello, can you hear me? well, apologies, obviously the communications are pretty difficult. we will see if we can get ian mchenry back and go back to that story. bbc news understands that the democratic unionist party's ten westminster mps are planning to vote down the budget later this month if the government agrees a brexit deal that they are not happy with. it is a move which in theory could bring down the government. the dup says it will reject any deal with brussels that includes proposals to treat northern ireland differently from the rest of the uk. our political editor laura kuenssberg reports. if the colours don't give you a headache, the deal just might. welcome to the room where, next week, theresa may hopes a deal with the eu might be in reach. but could the compromise she is heading for mean she loses her p

speaking this morning, a prominent brexit supporter, iain duncan smith, gave some backing to the idea that those who do not support this proposal should use their position. i have one thing in common with those, we resigned from the cabinet when we did not agree with it. when you get to the point where you no longer agree on a fundamental issues probably then you find yourself on the back benches. it's up to people to decide. could we see resignations? never a good speculator but i say to anyone in cabinet with concerns about this, you must make them clear to the prime minister. we mustn't have a little cabal outside the cabinet running this, it has to be a cabinet decision. the issue at stake is broadly the timescale. how long will this system stay in place after we get past next march? absolutely, that is the crux of this. any such system would have to be time limited and temporary, some say. the eu has not wanted to set a specific date and there are many who would like to see a specific date for when we would come out system. speaking to andrew marr earlier, the health secretary, m

duncan smith, that says eve n secretary iain duncan smith, that says even when you are on it, you won'ts you could have been had they not make cuts to welfare in 2015. he and others want around £2 billion to be spent on that aspect of universal credit, so you have got some people saying you have do ensure that claimants are better off as they move onto it, others saying you have do ensure they are well looked after when they are on it. both of these challenges are on it. both of these challenges are significant and both are expensive. thank you for now, michael buchanan. theresa may has briefed her cabinet on the state of the brexit negotiations, before tomorrow's crucial eu summit in brussels. last night, eight cabinet ministers took the highly unusual step of meeting on the eve of the weekly gathering, to discuss their concerns about the prime minister's approach. eu officials have warned no—deal is "more likely than ever" after talks failed reach a breakthrough over the weekend 0ur political correspondent leila nathoo reports. what do we want? noisy objectors outside the gates of dow

do the brexiteers within her party like iain duncan smith and jacob rees mogg, do they see it as a situationy have to stick with what they know for now until this deal is done, or do they gamble of trying to unseat her? as you said, this will be an interesting week that she needs to give her party a view as to why they should stick with her. the challenge last week was her indicating there will be an extension of time involved in the brexit process. this is extremely unpalatable but to just her party but to everybody involved, including all of us who do not want to see this dragged on. this week, and number of key meetings with mps from all sides, she would state what that actually mean and i think it will be a crucial week if she can reach the end of it having maybe dampened some of this unrest and giving them a clear view of what that needs, she will carry on with the negotiation then. we will talk about it later. the financial times, must —— russia warning trump. this isa must —— russia warning trump. this is a nuclear treaty signed by reagan and mikael gorbachev. he has been given this t

and many key politicians are saying, people like iain duncan smith, they say until 2021 we will pay millions to the key you with no say and nothing much in return. what will happen is that the uk will have to sit down and worked together because that is the issue. it is a divided party offering nothing new. they need to work together and see what they can bring to the table. looking at the new york times, stockpiling for a card that —— crazy brexit. this woman, in cornwall. she has everything. not just brexit. this woman, in cornwall. she has everything. notjust food but medicine and toilet paper, water... everything you might need. and many viewers have been getting in touch and saying that this is just like the millennium bug when the world would come to a dance till on the computers could not join would come to a dance till on the computers could notjoin the new century. here we are again. one third of our food century. here we are again. one third of ourfood is imported from the eu said this is where this is coming from. 1200 members have joined this prepping facebook group. and all i wo

with me is iain anderson, founder of the international communications agency, cicero group.d this so—called, well, it is a somewhat in the desert, davos in the desert, it has been dubbed. several business leaders are now saying they will not go because of the disappearance of jamal khashoggi. there has been a whole host of people overnight to have basically said they are not going to turn up, jp morgan are not going to go, blackstone are not going to go, aol, goober, a whole number of names. —— uber. they are saying that until saudi arabia clarifies what might have happened in turkey, and that is very much a developing story as we speak, a sense that the saudi government has moved in the past four or five hours to say, something might have happened in our embassy, and we are going to maybe talk about that over the coming day or so. then they are not going to go to this conference. it is a big low for the reforming it zeal of the young crown prince mohammad bin salman, who has been trying to attract investment into saudi arabia. at the moment

that needs more money too, about £2 billion, people from john major to gordon brown, jacob rees—mogg, iainthey need more money for that so essentially philip hammond is under pressure from every corner saying give us more money. that is what it is to be a chancellor, the times says if you raise taxes or block the budget —— we will block the budget and it happened to philip hammond in the past when he tried to twea k hammond in the past when he tried to tweak taxes. tori save it when i do that during practice. the chancellor is that a real bind. he wants to raise taxes, you cannot go through parliament and it's another headache for theresa may's government. the budget will be interesting to watch because philip hammond what to do little but there is huge pressure on spending at the moment. they try to be clever and drive forward and one who was in at the meeting, presumably cabinet ministers said i think the treasury thought it would be clever to have the budget now rather than december, close to the vote on any brexit deal, but it turned out that we just rescheduled it slap bang in the mid

the pressure is mounting on esther mcvey right in the middle of this reform, was of course one by iainsigned as it result of george 0sborne withdrawing some of the money that paid for a. that is the problem, whether they can't smoothed over that transition as people are moving over at that they then are not worse off, whether they can find the money to do that. it's a big problem for the conservative party. interesting john major said this could be like poltergeist. a big problem for them and one that starting to be a problem in front of their own backbenchers. if you have ben's unspoken about it before but there seems to be mounting concern about a particularly as next year it'll be rolled over to millions more people, therefore once it starts to creep into the constituency of more conservative mps, and they start getting people coming into their surgery saying we are really concerned about it, we are really concerned about it, we are going to lose this amount of money, suddenly it makes mps think this thing i thought was good, i'm getting all these people in and they are saying it is

thanks to norman and iain duncan smith.f people this programme is following over the next few months to see how brexit is affecting them. she is actually at this very moment on a ferry leaving the uk for good — moving back to germany after almost 20 years living here. let's start with you, sabine. remind our audience why he was leaving? hello, victoria, thank you for having me. -- why you are leaving? when i came onto the programme the other week, we arejust when i came onto the programme the other week, we are just very... we feel so unwelcome now in the uk as an eu citizen. the country has changed beyond belief, which i never thought was possible. so we have decided to pack up and go. we also need to secure our rights and interests on the continent. it all looks now like a cliff edge, no—deal brexit. how are you feeling as you are on the boat, heading over to calais on the day the prime minister is announcing that freedom of movement will end? you know, i'm saddened. i am absolutely saddened about that. because... the opp

joining us from our westminster studio is our political correspondent iain watson.was on, and then the labour spokesperson, the division between the two parties is pretty wide. it is. we are seeing battle lines being drawn which will run all the way to the next election wherever that happens to be. what is the case is the chancellor has been trying to neutralise some of labour's best attacks. the nhs is one area where he has allocated money year by year for the next five years, talking about how some of that money will be spent, for example on mental health. also, getting battle lines down on how money will be spent. £1 billion extra for defence and tying that is to renewal of nuclear weapons systems, something that the labour leadership, if not the mps, feel uncomfortable about. labour have an argument about whether austerity is over as the prime minister suggests, is it in the process of ending as the chancellor suggests. they are trying to see this as the myth of austerity coming to an end, they are highlighting that while there is extra money for the nhs, they a

our political correspondent iain watson has more details from the conservative party conference in birminghamolitical announcement the prime minister wouldn't leave to her home secretary. she personally pledged today that free movement would end after brexit in the biggest shake—up in the immigration system for a generation. in future, skills will matter more than nationality if people want to come to britain to earn their living. the policy we are announcing today, our future immigration policy, delivers on the result of the referendum. it ta kes on the result of the referendum. it takes back control of our borders, it ensures free movement comes to an end once and for all and we will be deciding who can come into this country. so what will the new system look like? skilled workers would need a minimum salary offer and could bring in close family members only of sponsored by their employer. there would be temporary exemptions for low skilled workers, a scheme for low skilled workers, a scheme for agricultural employees has already been announced and there would be a light touch system for sh

it comes in an article in tomorrow's observer newspaper. 0ur political correspondent iain watson is here she has had some trouble with her own side so why not? but narrowly she might need labour support to get a brexit deal through parliament but here she is making a wider appeal and saying look at my government a fresh, two labour voters wary ofjeremy corbyn. she says they will find a decent, moderate and page of programme worthy of support. attacking the character and track record ofjeremy corbyn has not been enough to shift the deadlock in the polls so she's trying specific policies, more support at the public sector, hinting at a public sector pay increase and hinting at house—building. but what i picked up at the conservative conference this week was genuine concern that could bea week was genuine concern that could be ajeremy week was genuine concern that could be a jeremy corbyn government so when she says we are notjust a party to clean up the mishit reflects a real concern that as the deficit comes down people might think it's less risky to vote for the opposition. she also decl

she did make the knowledge meant and what is interesting is that iain duncan smith and the former workid that there needs to be more money put in there needs to be more money put in the system to try and stop anybody been left off in some £2 billion. but the idea that they might stop the roll—out, that is i getting any traction. i think it has a white support brace and a cross party support brace and a cross party support base. the idea of bringing a welfare system to bring and pay it is the way that it is being implement it does cause problems. the pressure is from the backbench tory mps and also labour is pressing on this. it's worth mentioning the government has set aside £3 billion for a transitional phase but the argument is more money is needed over also that people are not left worse off. at the conservative party per —— conference we heard austerity is over, so what money does he have to play with? not much because while the permit was to put more into making people feel better off, in reality the finances are still tight. philip hammond has also said that he will be looking to

a delegation including former conservative secretary of state iain duncan smith and the former northernister lord trimble has been meeting the eu's chief brexit negotiator michel barnier in brussels. former enviroment secretary 0wen paterson started by explaining what the group had been discussing. further to my letter i wrote to michel barnier back in september when we published our european paper on how we could help resolve the issues around all uk's borders but with particular reference to northern ireland. we believe using existing techniques, existing processes and all within existing eu law, we can continue to trade seamlessly across all borders without damaging the integrity of the european customs union and single market, which is fundamental for them. we had a long and constructive meeting with mr barnier and his staff and we're going to go back and report the details to our colleagues and our own government. we can't negotiate in public. the government negotiates, we're just here to present a paper, which we did, and have a constructive discussion, which we had. we are now go

well, let's speak now to iain mchenry, originally from belfast, who's been living in tallahassee in floridais american wife. hejoins me live on the phone from there. systems which are experiencing that. what they're picking up now, the storm moves away from the coast it heads towards tallahassee, we've been told to brace ourselves for winds of up to 155 miles an hour. tallahassee is a very wooded area, the city is within forests and it is a big danger here, houses being damaged by the winds this trees falling down, stopping the emergency services from getting in doing an excellent job. services from getting in doing an excellentjob. throughout services from getting in doing an excellent job. throughout the services from getting in doing an excellentjob. throughout the day, we have been moving out of windows, the electricity is fluctuating and we are waiting for that to fail. and it's just a case of wait and see. we are waiting for that to fail. and it'sjust a case of wait and see. we are looking at some of the pictures of some of the destruction. trees being brought down and we are looking

as well as criticisms from former prime ministers, the architect of universal credit iain duncan smith and pensions secretary, protested customers funding. he told the bbc it needed an extra £2 billion to operate as planned. labour mps wanted answers. will the minister make a statement about what is actually happening on the ground, rather than take cover in generalise statements that are often hiding in reality of acute hardship for people in need? the damage that is going on now, let alone next year, cannot be underestimated. the government is determined to continue with the roll—out of universal credit because it is helping more people back into work. the government has also, however, been determined to improve the system as we roll it out, which is why it has been piloted. and what we have done following lessons learned from those pilot roll—outs is we have raised advances to 100% of the first month payment. we have made it quicker and easier to get those payments. so that anybody who needs it can now get paid on the very first day of their claim. we've scrapped the seven—day waiti

joining us now is iain armstrong, equities analyst at brewin dolphin.they done well? yes, very good across the board, upstream and downstream were higher than the forecasts. i would put it down to three things. one is the improved efficiency and reliability of the operations. you mentioned already they brought a lot of new projects on stream. those new projects have got much higher margins than the old projects. and the higher oil price has helped. so new production and also the high oil price contributing towards these results. what about going forward? what are the factors influencing their profits? going forward again, they brought seven projects on in 2017, and they are benefiting from those being wrapped up. five so far. another one in the fourth quarter. that will benefit the back end of 2018 a little bit. even more 2019 and 2020. this is all pa rt even more 2019 and 2020. this is all part of a 2021 strategy, which will significantly improve the earnings and cash flow from the downstream operations. that is, for example, marketing and retailing, b

with me is iain martin, columnist for the times here in london. the frenchjournalist agnes poirier.writer and filmaker. as we go to air, jamal khashoggi hasn't been seen for 11 days — since he entered saudi arabia's consulate in istanbul. the saudi government says accusations that it ordered the killing of the 59—year—old, who writes for the washington post and has been critical of the regime, aren't true. the secretary general of the united nations has demanded the truth and says whoever is involved must be held legally accountable. what should be the international response? abdel bari atwan, you've known khashoggi for 30 years, so it must be a difficult topic for you to talk about. to be honest, as a middle eastern journalist, i am sad and scared.

iain duncan smith is calling for the 2 billion that the previous chancellor george osborne cup on theck ian, otherwise it could become a big hot potato for the governor —— cut from the system. theresa may saying she will help the people just about managing, the people on the breadline. that is what is so toxic about this. theresa may stanton says austerity is coming to an end. and yet this idea that £200 per month could be lost for some people. and her work and pensions secretary, esther mcvey, comes out and says we have made tough decisions and some people will be worse. that has not been the downing street line up until now. it makes you wonder whether they might give some gardeners. there is a lot of philip hammond has on his balance sheets. whether it is the 20 billion from the nhs. now who will pay this extra 2 billion cut by george osborne from universal credit? it is very hard to see how he could swear that without having some tax rises. then again, we may end up, i think, with quite a slimmer budget, a barebones thing to carry us slimmer budget, a barebones thing to carry us t

iain watson, bbc news, westminster.rope correspondent damian grammaticas is in brussels. damian, this was once considered a crucial meeting in the brexit timetable, but now expectations are really low. louise, it was meant to be more than that, it was meant to be the meeting today when everything would have been essentially in place. perhaps a couple of little things to sort out just left over. instead, what we haveis just left over. instead, what we have is this situation where the talks have broken down. those talks are not happening any more, that happened at the weekend. mrs may will come here and, rather than be trying to seal the deal, she is going to have that opportunity this evening, late this afternoon here, to address the other 27 leaders, to try to convince them to see things her way. over that issue that ian was just telling you about, of the irish border, this plan of how to avoid customs checks, the return of the so—called hardboard. the difficulty that she has is that donald tusk is saying the eu wanted

speaking on a programme on sky this morning, former cabinet minister and brexit supporter iain duncanith appeared to give some backing to the idea that those who don't really support the approach that is being taken, perhaps they should give some thought to their position. i share one thing in common with him, which is we both resigned from cabinet when we were not in agreement with it. therefore i am always of the view that when you get to the point where you no longer agree on a fundamental issue, then it will be time that you found yourself on the back benches. but it is up to people to do that themselves. so do you think we could see some resignations? i never very good at speculating, but i would say to anyone in cabinet who has concerns about this, you have to make them very clear to the prime minister. we mustn't have a little cabal outside the cabinet running this, it has to be a cabinet decision. the issue at stake here is broadly the timescale, how long does the system stay in place after we get past next march? absolutely, that the absolute crux of this. downing street has

we heard the architect of the new benefit, iain duncan smith, suggesting the tories should abandon raisingse that money to make up some of the cuts to universal credit. but politically this matters hugely, not just because of the human cost potentially off families losing out hundreds, maybe even thousands of pounds, but because it comes after mrs may made the centrepiece of her party conference speech at the pledge to end austerity and it is very ha rd to pledge to end austerity and it is very hard to make that argument if claimants are losing significant sums of money. added to which the sta kes a re sums of money. added to which the stakes are high because we have seen successive governments come to grief when they have tried to reform benefit. tony blair when he tried to cut disability benefits, david cameron when he tried to cut tax credits and now mrs may is embarking on the biggest shake—up of welfare payments in a generation. the quick thought about events later today because a cabinet meeting closer to tea—time today. because a cabinet meeting closer to tea-time today. we get a cr

iain anderson, founder of international communications agency cicero group, joins me now.ood morning. good morning. paul allen deon, welcomed. good morning. good morning. paulallen isn't deon, welcomed. good morning. good morning. paul allen isn't a deon, welcomed. good morning. good morning. paulallen isn't a name deon, welcomed. good morning. good morning. paul allen isn't a name we know as well as bill gates. but as we've been hearing from many today, modern computer inc wouldn't be where it is today without him. -- computer inc. that's right. gates has taken all of the headlines with the microsoft story but aleen was there at the start. —— allen. he left microsoft early in its journey in 1983. he and gates fell out over the direction but also shareholding in the business, it can often happen in business. but listening to what gates said about his friend, and they remain friends all their lives, very warm tributes to him this morning and an absolutely groundbreaking... not just in morning and an absolutely groundbreaking... notjust in terms of computing, but in his futu

speaking on skype, former work and pensions secretary and brexit backer iain duncan smith appeared to that perhaps some should consider their positions. i have one thing in common with those, we resigned from the cabinet when we did not agree with it. when you get to the point where you no longer agree on a fundamental issue is probably tell you find yourself on the back benches. it's up to people to decide. could we see resignations? never could speculate but i say to anyone in cabinet with concerns about this, you must make them clear to the prime minister. we mustn't have a little cabal outside the cabinet running this, it has to be a cabinet running this, it has to be a cabinet decision. it is interesting that dominic grieve has echoed similar sentiments today, saying on radio for those who cannot back the pa must go. a few rumours, a few names have been put into the frame in recent days that there have been no indications today that anyone is thinking of taking that path. much has been said about the dup and their role in recent events, what is coming out of their side? the obser

when you listen to the statements from 0wen paterson, lord trimble, and iain duncan smith, they soundster is talking about her trip is planned, as it has become known, in which we would see a free—trade area for goods at agricultural products between the uk and eu with a common rule book which would be managed in a dynamic way with new rules and richer nations potentially being applied to the uk as they emerge from brussels. but those men there, there to see michel barnier, are com pletely there to see michel barnier, are completely against that. they want to see a much more traditional free—trade agreement, the kind the eu has with lots of countries around the world. when it comes to the controversial issue of the backstop, this back—up plan to avoid a hard border in northern ireland, the european research group, a group of conservative eurosceptics and brexiteers, but forward a plan a couple of months ago about an alternative way to solve that. they said they would just use traditional methods you would use in a normal free—trade agreement to solve that. the eu says those traditiona

eu citizens, and that fewer low—skilled workers will come to britain post—brexit. 0ur correspondent iain the conservative party conference in birmingham for us this morning. good morning to you. we will be speaking to theresa may herself around 7:40am this morning. but is there anything new in this immigration announcement?m there anything new in this immigration announcement? it is the biggest shakeup to immigration in this country for a generation. largely the details are as were lea ked largely the details are as were leaked just over a week ago when this was discussed in cabinet, and we received a report from the migration advisory committee which told them effectively to concentrate on high skilled emigration rather than low skilled migration. that is exactly what ministers are going to do. effectively they are saying a new aggression system post— brexit will be based on people's skills, not their nationality, no special treatment for the eu. you also have to look at the small print of this announcement. some sectors will struggle in the short term, so they are talking about tempora

our political correspondent iain watson reports.c service workers have called for it, the opposition have said, if elected, they'd do it, but it's a conservative chancellor, philip hammond, who's now claiming he will end austerity. there will be more, much more money for the nhs in england, one—off cash injections for defence and for schools, and extra help for those who're moving on to universal credit as part of wide—ranging welfare reforms. but labour say the government can't keep its promise to end austerity while continuing to freeze benefits for some of the least well—off. many people will look at these conservative claims that austerity is ending with a huge amount of scepticism. we are not going to be seeing the additional police on the streets that we really need, we are not going to be seeing any change really to the situation for social care, because we have seen 7 billion being pulled out in funding and the governmentjust saying it might start to move towards backfilling 1 billion of that. the government has been arguing

iain duncan smith has called for the restoration of universal credit.ore cuts that were made in 2015 to make universal crabs attractive and reduce the cuts people with experience. what we are sailing is a separate package from that, to help people over the initial stages as they move on to universal credit. those issues, how badly off some people will be, they remaina badly off some people will be, they remain a problem. thank you very much, michael. and we want to know what you think about this story, you can tweet us using #bbc newsroomlive or text us at 611211. theresa may will try to rally ministers behind her this morning at the start of a critical 48 hours for brexit. the prime minister is meeting her top team in downing street right now to update them on negotiations for leaving the european union and to see which members of her cabinet still back her. senior ministers are worried about the northern ireland backstop, the last resort to protect a northern irish border if the uk were not too skew a wider trade deal. norman smith is in downing stree

this morning he had a visit from owen paterson who used to be the environment secretary, from iain duncanpensions secretary and former tory leader and from david trimble who used to be first minister of northern ireland, leader of the ulster unionist and is now a conservative peer, but they all have in common is they are leading proponents of brexit and they are also leading critics of theresa may's plan with the economic partnership between the uk and the eu in the future. remember, theresa may was this so—called chequers plan which would make a common rule book which would make a common rule book which could be updated byjoint agreement in the future. the three that were here today were here to see michel barnier say that will not work and it should just be a normal free trade agreement, the kind of which the eu has with other countries around the world. i imagine that michel barnier would have thought, "yes, i agree with you on that point." but the point is that the uk will not be able to get the frictionless trade and close trading arrangement they want if thatis trading arrangement t

iain duncan smith, who is pro—leave, asked how long the emergency backstop in ireland might be needed does she think that this temporary arrangement would last and he would make the final decision as to when it ends? we set out in proposals that we would expect that to end by december 2021. i also say to end by december 2021. i also say to my right rubble friend, he asks me what i want to see what i think, i don't want to see the backstop having to be used at all. the democratic unionists who are up theresa may minority government made clear that they would not exceptional nyland being treated differently to the rest of the uk. which he confirmed that single market and customs union, the uk leaving the eu together, with no pa rt leaving the eu together, with no part separate on the single market or customs union? yellow mac we will be leaving together. i am very clear that that should be no hard border. some mps say that if parliament is in disarray, another referendum is needed. if parliament can't get a grip on this, it is time to face up to the fact that brexit cannot be delivered,

last year i spoke with iain duncan smith, who said britain is definitely down to the letter of the lawion in march of 2019. is that really going to happen? stephanie: i think that as investors we need to be mindful of the risk that we end up in a no deal almost by accident. the challenge we have is time and time again we have said time is running out. now we find ourselves in october with talk of the november summit not been held -- being held. as investors we need to be my phil -- mindful that no deal as an option, is a possibility. if the second most likely outcome for a final deal. we need to be realistic. there are a lot of incentives on both sides to make a deal and we absolutely think that holds, but at the end of the day political mistakes can happen, and we need to be mindful of that. anna: what about meaningful vote in parliament? has idea of the meaningful vote does not chime with others of the meaningful vote. deal or no deal at all. is that the way it plays out? stephanie: if theresa may makes it withdrawal agreement with european partners and needs to pass it to pass it th

iain watson, bbc news, westminster.g is in the bbc newsroom with a summary of the rest of the day's news. president trump says accusations saudi arabia murdered a journalist represent another case of "guilty until proven innocent". he added that he'd spoken to the saudi crown prince, mohammed bin salman, and he had totally denied any knowledge of what had happened. turkey has claimed the journalist jamal khashoggi was murdered in the saudi consulate two weeks ago. us secretary of state mike pompeo revealed details of the meeting as he headed to ankara this morning for talks with the turkish president. i stressed the importance of them conducting a complete investigation into the disappearance of jamal khashoggi. and they made a commitment, they said they would do that. they said it would be a thorough, complete and transparent investigation. we'll all see the results of that. they made a commitment that they would show the entire world the results of their investigation. they also indicated that they would get this done

live to westminster and our political correspondent iain watson. and gone by on day two, there has been a certain unraveling as the details come to light. is there any fraying at the edges as there any fraying at the edges as the details come to life. there is fraying at the edges but no unraveling as we have seen in recent yea rs. unraveling as we have seen in recent years. those people i think are relatively happy with the chancellor. if there'll be rebellions in the conservative pitches, that will save them for brexit and see what kind of deal might emerge then. talk afraid edge, i think the problems are stacked up in the future, not necessarily immediate for the budget. in the package from the institute for fiscal studies, they said that look at the money for the health services now, it gobbles up £4 out of every £10 sent in the long—term future. in the long term, that is unsustainable u nless the long term, that is unsustainable unless the chancellor is willing to except tax rises. we have a spending review next year and again the institute fo

of a gamble with the nhs, but public services also feeling the squeeze. 0ur political correspondent iainoing on, how has that gone down in terms of a conclusion there? you have mentioned it, the ifs has mentioned it, and implicit in what they are saying is that this is a budget driven by politics rather than economic. effectively, the government is finding more money for public services because it is taking a gamble that some of the forecasts about future tax revenues will be accurate. far more positive than they were six months ago, but again they were six months ago, but again the ifs is warning that perhaps they can go in the opposite direction as well so the chancellor taking a big risk by putting most of his headroom into public expenditure at this stage. but the institute for fiscal studies said two other things which are very interesting. we have got a lot more money going into the nhs, a big political priority for the government, but they are seeing other government departments may not necessarily see any increases and some may be facing cuts. we asked the prime minister‘s spokes