let's talk about this office for budget responsibility for customer first, we then warned it makes soberingshi sunak is expected tenants in terms of his spending review, but quite what does office for budget responsibility forecasts show, it will make interesting reading. we know that the chancellor has told cabinet this morning it's a sobering picture, it's an economic forecast, so the size of the economy, potential unemployment going forward , potential unemployment going forward, and i think you will see it matched with rishi sunak‘s emphasis on trying to shore up jobs, so this investment in a restart scheme trying to help people back into work who are unemployed, more money, as well, forjob centre plus centres, as well, trying to combat a rise in unemployment. but i think whatever rishi sunak does, whatever money he ploughs into trying to improve the economic picture, there is no doubt that today will be a difficult message, i think, for the government to deliver. because, yes, they can talk about investment and spending but this is not where the government expected to be. they were ori

and the petition from the office for budget responsibility which does our official broadcasts in theill shrink by 11.3% from the sheer sharpest fall in 300 years and rishi sunak talking about however foreign spade will go up for a record in peacetime, it sounds accused number but to put that in context, that is about 19% of our national income. and rishi sunak still talking about spending, saying still he is focused on the coronavirus crisis, still needing to spend on the furlough scheme, but he is setting out the picture of the big hole in our finances that at some point we are going to have to start think about how we are going to fill it. summing decisions aren't therefore the decision—makers at the top? the telegraph also picturing diego maradona, the images of him lifting the world cup in 1986. hero, dillion, genius, themes we have touched on. the article and wants to hone in on again is rishi sunak and the way he describes the economic emergency only just describes the economic emergency onlyjust beginning. it is a wake—up call. do you think people were aware as to just help at

the numbers will be published by the office for budget responsibility and i will be in the billions.ic sector will see their pay increase next year as a result of these decisions and it will help us protectjobs and i think your programme already mentioned three quarters of a million people, almost all in the private sector, have lost theirjobs through this crisis and that is a tragedy and i want to protect the jobs the best i can and taking this approach will mean i can protect morejobs in the public approach will mean i can protect more jobs in the public sector and if you have got a given budget, you wa nt to if you have got a given budget, you want to maximise employment and this will help me do that while ensuring fairness across the board. people might look at your speech, and these are your own words from the speech he made yesterday, you talked about the government setting the direction in terms of the budgets and then he went on to say that the spending announced today is second to the courage, wisdom and kindness and creativity it unleashes. i go back to my original question

s office for budget responsibility. now the o.b. are also update its forecast for the next few years, predicting growth of 5.5 percent in 2021 and 6.6 percent in 2022. g.d.p. in the nation will not return to precursor virus levels until the 4th quarter of, 2022. now, according to the o.b., our borrowing is set to reach $526000000000.00 or roughly 1000 percent of g.d.p. in 2020, the highest peacetime level on record. meanwhile, the british finance minister announced more than $370000000000.00 in public spending to address the hardships brought on by the pandemic. it will allocate funds for testing in p.p. and support for the national health services among other measures. so for more on this, let's go ahead and other economic news of the day. let's go ahead and bring in boom bust co-host christiane, an active member, n.z. c.e.o. of optimus l.l.c. . always a pleasure to have both of you on the show to talk about these things. octavio to start with you here though with the british budget deficit. ballooning. are these measures unveiled b

the office for budget responsibility, which a nalyses for budget responsibility, which analyses the spending£20 billion of spending in each of the different announcements that rishi sunak has had to make. £20 billion in context is basically a huge budget package in normal times, and he's had to do 14 in normal times, and he's had to do 1a of them. in normal times, and he's had to do 14 of them. it's eye watering. the times also noting the announcements the chancellor had to make today. given that were looking at the covid—19 costing three years of growth to the economy, is there anything in particular that stands out to you that made you think, "my goodness?" we have the things that have happened, already the 0pi is saying the economy will shrink by 11.396 saying the economy will shrink by 11.3% this year, biggest decline in the economy and 300 years. also the factor looks grim dutch future looks grim, we could reach a peak of 2.7 million people unemployed next year. i think the big reality check and the message rishi sunak wants to get out today is that things are looking tough at the momen

really reported so far is the fact that the 0ffice reported so far is the fact that the office for budget responsibilityy has drawn up a scenario for what might happen if there is no deal. we all hope there is going to be a deal pretty soon but if there isn't, they say the permanent scarring for the economy will mean it is not 3% down, as it would be any way from the pandemic five years from now, but another 2% down, so the economy will be 5% smaller than it otherwise would have been, and we won't recover from pre—pandemic levels until 2024. so thatjust underlines the need for a deal to be done. andy verity, thank you. 0ur deputy political editor vicky young is in westminster. they said it was going to be sobering, that is an understatement. it is. rishi sunak the chancellor at the beginning of this pandemic said he would do whatever it takes to get the country through it, and really today we've got the bill. and even though we knew that the economic impact was going to be huge, it really is truly shocking hearing it laid out like that, and i wasjust looking at it happening in the commons there, and see

downing street had warned the figures from the office for budget responsibility made sobering readingiora forecast the economy will contract this year by 11.3%. the largest fall in output for more than 300 years. as the restrictions are eased, they expect the economy to start recovering. but that recovery would not be straightforward. even with growth returning, our economic output is not expected to return to precrisis levels until the fourth quarter of 2022. in the economic damage is likely to be lasting. on pay, he said private sector wages had fallen while public sector wages rose. and unlike workers in the private sector, who have lostjobs, been furloughed, seen wages cut and hours reduced, the public sector has not. in such a difficult context for the private sector, especially for those people working in sectors like retail, hospitality and leisure, i cannotjustify a significant, across—the—boa rd pay increase for all public sector workers. instead, we are targeting our resources at those who need it most. that means pay rises for nhs staff and those earning less than £24,000 a

because of what the office for budget responsibility said last week about the impact a no—deal wouldn top of the impact the covid pandemic it had as well? it seems extraordinary statistics and detail of numbers as to the effect and the impact upon the border economy so it's likely that the timing of this is quite useful for that the timing of this is quite usefulfor eu that the timing of this is quite useful for eu negotiators and in particular to bring clarity to the uk government to precisely what its position should be on this, whether it's truly work walking away with a nodal situation given what is on offer is essentially barebones trading deal that would be significant changes in any event, with or without a deal. obviously an enormous economic repercussions with having no legal rules and a vacuum to step into with its dealings with all of the world. thank you very much indeed. good to talk to you and something we will keep you up—to—date on as well. stay with us on bbc news. still to come. how will theatres coped during the pantomime season with social distancing? now for some

know economist and analysts will be keen to see what the office for budgetary responsibility says, the official forecaster. —— the office for budget from them on unemployment and the economy, we know the economy is 10% smaller that it was pre—pandemic, borrowing at 350 billion by the end of this year, and we haven't had a forecast from them since march. as we know, so much money has been borrowed and spent since then. eye watering stats, 0k, we will be looking out for those inevitably. sima kotecha, our business presenter, thank you very much. we will bring you live coverage on the bbc news channel of the chancellor's spending review, when it gets under way at 12:30pm, approximately, followed by interviews and analysis throughout the afternoon, so do join us for that. an inadequate stockpile of personal protective equipment in england before the pandemic and a surge in price because of a boom in global demand has cost the taxpayer around £10 billion. that's the findings of a report by the public spending watchdog, the national audit office. it says there was a particular shortage of gloves and aprons, and two orders for 75 million

the figures from the office for budget responsibility were grim. cast the economy will contract this year by 11.3%. the largest fall in output for more than 300 years. on pay, he said private sector wages had fallen while public sector wages rose. in such a difficult context for the private sector, especially for those people working in sectors like retail, hospitality and leisure, i cannotjustify a significant across—the—boa rd pay increase for all public sector workers. the cut in aid spending from 0.7% of national income had also been widely trailed. but during a domestic fiscal emergency, when we need to prioritise our limited resources on jobs and public services, sticking rigidly to spending 0.7% of our national income on overseas aid is difficult to justify to the british people. his labour shadow criticised the pay freeze. earlier this year, the chancellor stood on his doorstep and clapped for key workers. today, his government institutes a pay freeze for many of them. this takes a sledgehammer to consumer confidence. and she noticed somethi

the office for budget responsibility i think saying this week in the uk that it could cost a furtherdoes not happen next year. are those fears reflected on the continent of europe too? well, it is very interesting to watch rishi sunak in the commons this week, because he hardly mentioned brexit. he said, of course, that a deal would be a good thing but he did insist that actually, a deal would mean that britain's gdp shortfall, which is already at 4%, just quitting the single market, and then it will be made much more — much worse if there is no deal. you can add another 2% of gdp shortfall. and all in the middle of a pandemic. because it is very easy to see — and indeed, not only in britain, in every country in europe — the economic impact of the economy shrinking this year, but also next year because of covid. but the economic consequences of brexit are really long—term. and to think that britain — my dear britain — is going to have to deal with the consequences of covid, plus of brexit, it seems to be taken lightly by the government. because it's, as we know, it is such an ideolog

s office for budget responsibility. now the o.b. are also update its forecast for the next few years, predicting growth of 5.5 percent in 2021 and 6.6 percent in 2022. g.d.p. in the nation will not return to pretty coronavirus levels until the 4th quarter of, 2022. now, according to the o.b., our borrowing is set to reach $526000000000.00 or roughly 19 percent of g.d.p. in 2020, the highest peacetime level on record. meanwhile, british finance minister announced more than 370000000000 dollars in public spending to address the hardships brought on by the pandemic. this will allocate funds for testing in p.p. and support for the national hell services among other measures. so for more on this, let's go ahead and other economic news of the day. let's go ahead and bring in boom bust co-host christiane and octavia moran's a c.e.o. of optimist. l.l.c. always a pleasure to have both of you on the show to talk about these things. octavia want to start with you here though with the british budget deficit. ballooning. are these measures unveil

the office for budget responsibility has calculated that the uk economy will shrink by more than 11%e, the government has been spending hundreds of billions of pounds of borrowed cash to cope with the pandemic. as our economics editor faisal islam reports, we've hardly started to pay that back. grim economic numbers are no surprise to anyone looking out on the high street. in wakefield, yorkshire, months of pandemic uncertainty have seen the spread of the tell—tale to let sign. here in one of the so—called blue wall seats, locals have mixed feelings about the government was not coming pay squeeze. well, he's got to do what he thinks is best for the country at the moment, because of the state we are in. the people that have done the hard work during covid that you get the pay rises, it is the public sector workers. today's forecast shows the economy set to shrink by over 11% this year, a three century record, and recovering more slowly next year, meaning an annual increase in borrowing early due seen during world wars, nearly £400 billion, 19% of the size of the national economy, a st

the office for budget responsibility has calculated that the uk economy will shrink by more than 11%s is happening while the government is spending hundreds of billions of pounds of borrowed money to deal with the pandemic and its effects. as our economics editor faisal islam reports, there's been very little progress so far in the task of repaying the debt. grim economic numbers are of no surprise to anyone looking out on a high street. here in wakefield in yorkshire, lockdown means no shoppers or staff, but as elsewhere, months of pandemic uncertainty have seen the spread of the tell—tale to—let sign. here in one of the so—called blue wall seats, locals have mixed feelings about the government's public pay squeeze. well, he's got to do what he thinks is best for the country at the moment because of the state we're in. the people that's done the hard work during covid, that should get the pay rises, it's the public sector workers. today's forecasts show that the economy is set to shrink by over 11% this year, a three—century record, before recovering more slowly from next year. that

economy and the knock—on impacts which are detailed in this the first full report from the office for budget responsibility heat. then you have a slimmer rebound —— slimmer rebound, and information from the chancellor and the 0b art was that by 2025, the end of this parliament, it will be 3% lower than we'd expected before this pandemic. that permit kind of scarring effect on public finances. i willjust show scarring effect on public finances. i will just show you scarring effect on public finances. i willjust show you and our viewers of the figures in terms of net borrowing, these are figures from the obr, £394 billion borrowing, these are figures from the 0br, £394 billion of borrowing, 164 billion from 21—22, and... in terms of the amount still at the end of this parliament, what's your reaction? it's just of this parliament, what's your reaction? it'sjust enormous. absolutely eye watering the enormous. and if you think of the debate we had, really, from the late notice all the way through to the 2015 election, that was defined by how is the country going to repay back what we borrowed in the credit cri

have just the hundred billion pounds of borrowing by the middle of this decade that the office for budget responsibilityillion or so of tax rises required just to stabilise the public finances, but maybe 40 billion of tax rises. so i think there's still a lot of really tough decisions to be made. a few other stories in brief here this afternoon. a former porter at great ormond street hospital in london has been charged with dozens of child sexual abuse offences. paul farrell is believed to have worked at the specialist children's hospital from the mid 1980s until his arrest injanuary. in a statement the hospital said they are working with the police and that safeguarding children is fundamental to the care they provide. two of the uk's largest pub operators have announced more than 2,000 job losses this morning. mitchells and butlers, which runs chains including all bar one and harvester, said it had cut 13,00 roles. meanwhile, fuller's, which runs almost 400 pubs, said it was reducing its number of staff by around a thousand. the bbc has learned that a convicted terrorist who's refused to cooperate wit

but not so generous if you look at everything else, the office for budget responsibility have brokenumbers according to covid spending and non—covid spending and we actually see quite big cuts in public spending over the next few years, relative to what was being planned back in march, so even the borrowing numbers you'vejust quoted assume we will be spending less in three or four years time than was planned back in march, that we spend nothing after next year on anything related to covid, and that overall, the pressures on public spending have been reduced by what we see this year, i think that is unlikely, to put it mildly, sol think there are some questions here about how well this set of numbers will work into the given what we know about pressures on public spending. we've also been talking about growth figures at the chancellor unveiled today for the next three or four years. what did you make of the measures he announced in terms of trying to tackle unemployment and create jobs? will those measures help significantly? create jobs. will those measures help significantly? to som

the office for budget responsibility have broken down these numbers according to covid spending and non—covidlic spending over the next few years relative to what was being planned back in march. and so even the borrowing numbers you just quoted assume that we'll be spending less in three or four years' time than was planned back in march, that we spend nothing after next year on anything related to covid and that overall the pressures on public spending have been reduced by what we're seeing this year. i think that's unlikely, to put it mildly. so i think there are some questions here about how well this set of numbers will work through in the medium run given what we know about the pressures on public spending. vicky pryce is a formerjoint head economist for the uk government. these are huge numbers. what do you make of these figures? do you think they are advisable?” don't think the government has any choice but to borrow as much as it possibly can and is much as the markets would allow given that we are paying very little for that borrowing. and after all other countries have done the sam

yes, it is interesting at the same time the spending review comes out the office for budget responsibilityhs from april to october, that they will because of the new restrictions have to increase the forecast for the deficit further. as you say, the implications for the spending review cannot be understated in that they will be pressure on the government to find ways of narrowing the deficit as much as possible, while not choking off any nascent recovery. thank you, good to see you again. anita, we now face a mammoth date of £2.3 trillion. to give you some context, that is larger than our entire economy. that is quite a statistic to consider. thank you very much, our business presenter. now it's time for a look at the weather. very good morning. after the cold, frosty but sunny start in eastern areas, cloud on the way. brain spreading to all parts today but we will see things turn milder. milder air in the west with the heaviest of the rain so far, turning lighter already in northern ireland, the odd brighter spells. patchy rain east in the east of england in the afternoon. struggling to r

the office for budget responsibility has calculated that the uk economy will shrink by more than 11%hile, the government has been spending hundreds of billions of pounds of borrowed cash to cope with the pandemic. as our economics editor faisal islam reports, we've hardly started to pay that back. grim economic numbers are of no surprise to anyone looking out on a high street. here in wakefield in yorkshire, lockdown means no shoppers or staff, but as elsewhere, months of pandemic uncertainty have seen the spread of the tell—tale to—let sign. here in one of the so—called blue wall seats, locals have mixed feelings about the government's public pay squeeze. well, he's got to do what he thinks is best for the country at the moment because of the state we're in. the people that's done the hard work during covid, that should get the pay rises, it's the public sector workers. today's forecast show that the economy set to shrink by over 11% this year, a three—century record, before recovering more slowly from next year. that means an annual increase in borrowing only seen during world wars

the office for budget responsibility has predicted that next year alone if there's no deal, then growth economic growth in britain will be reduced by 2 percent. and it will have a big impact on jobs as well in to the tune of hundreds of thousands of extra people unemployed. now the european parliament is shuttled to have an exceptional session of the 28th of december the last minute in which they could ratify a deal. so we really are reaching a crisis time members of the european parliament predicting that if there is a deal, it would need to be signed and signed off by lawyers as well, sometime next week to come into effect at the end of this year. at the end, babba in london, thank you for the president of bello's alexander lukashenko has promised to step down. if a new constitution is created, he hasn't confirmed if the process is underway or even if it's being considered so far resisted months of protests calling for his resignation. critics accuse him of breaking the election and cracking down on his opponents. in france, 4 officers have been arrested after a video surfaced, showin

so that figure is based on the forecast produced by the office for budget responsibility, so it is takingmy is going to develop in the next few years, which includes the market and earnings, applying to that to what we know about memphis depay and comparing that to prepandemic trends, and as you say it is really a very large figure of £1200 a year by 2025, so it is not just the crisis having a short—term impact it is having a scarring effect, so it will be with us for some years to come. how does a cut of that order impact, do you think of that order impact, do you think of living standards if you look at average pay in the uk? so, i mean, it has already been a bad period for living standards before the cries is, we had the financial crisis and then living standards were squeezed after the brexit vote, because we had quite high inflation, and so what we find is when we do these numbers is that over the 15 year, so 15 years before 2008, the financial crisis, living standards increased by 40% napped the 15 years after that, so taking in these periods, we they have living standards, we are l

the office budget for responsibility saying that it could cost a further 2% of growth if it does notnext year. are those fears reflected on the continent of europe also?m year. are those fears reflected on the continent of europe also? it is very interesting to watch rishi sunak in the commons this week because he hardly mentioned brexit. he said of course that a deal would bea he said of course that a deal would be a good thing, but he did not insist that ideal weighted mean —— would mean that britain's gdp shortfall, which is already at 4%, just quitting the single market, and thenit just quitting the single market, and then it will be made much more worse if there is no deal. you can add another 2% of gdp shortfall. all in the middle of a pandemic. it is very easy to say, and indeed not only in britain, in every country in europe, the economic impact of the economy from shrinking this year and next year because of covid. but the economic consequences of brexit are really long—term. and to think that britain, britain is going to have to deal with the consequences of covid and brexi

hearing the cabinet office is worried about a perfect storm of covid—i9, winterflu, industrial action and breaks it. we are also expecting tomorrow for the office of budget responsibilitiesnk of england, has warned that failing to reach a trade deal with the eu could be even worse for the economy than covid—i9. but behind the scenes, there's optimism — i'm hearing that there's optimism — i'm hearing that there's optimism — i'm hearing that there's optimism that ed agreement might emerge from talks of the weekend and be nailed down early next week. so i'm pretty hopeful.” thought we were going to be hearing something today or thursday. anyway, let's wait and see. we are always on the brink of something, art we? 0nto the times, and again another eu story, britain and a sausage work. it is like something from guest minister or yes prime minister, isn't it? it's surreal, and there always seems to be one food or another... but sausages are meant to be bendy, of course, as are bananas. exactly. so in this instance, the big row is in eu regulation stating that uncooked prepared meat products cannot be imported unless they are froze n cannot be imported unless they are frozen to

more interest will be what is going to happen next year or what the office of budget responsibility, which provides all the numbers fort they think will be happening next year. now, it will be focused on growth, how much of a rebound the economy is expected to have, but also what will happen to public spending next year. borrowing next year is going to be lower than this year. that's the good news. but it might not be a lot lower because economic growth is going to take some time to feed through into public finances. so, when will we start to feel the pain, i am wondering, when it comes to taxation policy changes, because the debt is huge, it is historically high, we have but interest rates very low, which really helps, but it isa low, which really helps, but it is a ticking time bomb, isn't it? well, first of all this is a tax statement. we will get figures on taxation, but i think the chancellor will make another statement, let's say in march, to say what he might do on taxation. there is going to be some spending announcements. hopefully he will continue to use and to support the economy, you talk about your introd

responsible for its budgets. and for the very thing, the agency generally is the cabinet office. number 10 says the consideration of foia requests remains applicant and motive behind. and the clearing house unit remains fully compliant. but there is growing criticism within westminster labor peer lord clarke of when dimia was instrumental in the becoming a law and is now calling for a government investigation into the controversial yunis, along with politicians across the spectrum. this clearing house is certainly against the spirit of that act, and probably the latter 2 ministers should explain to the house of commons precisely why they continue with this set up in view of the fact that it is contradictory to the whole purpose of freedom of information this is extremely troubling if the cabinet office is interfering in f. or i requests and seeking to work around their requirements of the act by blacklisting join. they say it is a grave threat to our values and transparency in our democracy. yet this storm over the law has been brewing since it was past 20 years ago, under tony b

the irony is that the government department that's responsible for its budgets and for the, for overseeing the agency generally is the cabinet office. but generally speaking, seamark, i'm ashamed that most of the requests are a lot of them come from journalists. isn't the goal, wouldn't the government face a backlash from the media if it continues like this? well, interestingly, the majority do not come from journalists. they come from a whole array of sources, quite a lot of it is actually commercially related. but nonetheless, perhaps the ones that are regarded more sensitive tend to come from journalists, and as to when there be a backlash in the media, they will. but it's a bit of especially starts making for ever quest. and i should majority of journalists don't do it. certainly some do, but the majority don't. so it's a bit of especially sports if you like. nonetheless, journalists are generally aware that some fantastic stories have emerged as a consequence of for requests. and that's part of the reason why the government doesn't like you very much. absolutely. do you think the government will have to back track on this then

budget by 50%. in response the city's first black police chief resigned. >> it really is about the overarching lack of respect for the officerster: her successor, chief adrian diaz, facing pressure from activists to make good on those cuts. >> what's your take on the defund the police movement? >> i don't support like kind of the abolitionist movement of getting rid of police departments. i want to make sure the department is run efficiently, the department has its resources, that the department also has the tools to ensure that if we're looking at restoring justice and we're looking at programs to support our community, that there is investments in those communities. >> reporter: but defunding the police remains controversial. 64% of americans oppose the movement. president-elect joe biden is also against it, saying he instead favors adding mental health resources to police department toolkits. >> i don't want to defund police departments. i think they need more help. they need more assistance. we have to make it clear that this is about protecting neighborhoods, protecting people. >> reporter: derek chauvin, the officer acc

for the biggest depression. gdp would be 3.75% lower than in march. office of budget responsibilityioning to a free-trade agreement would shed in the long run but without it, it would be losing 1.5% gdp. it is clear that either way this is going to be costly, but without the trade deal, it will be much more costly. haidi: what about the damage on the job front? jobs really are on the line. unemployment is set to rise with 2.6 million people being out of work. trade deal is reached without that, they are saying you could see unemployment of 8.3% and financial services and manufacturing which relies on manufacturing would be really hit as well as food and textile producers. news. way, it is not good but with the trade deal, they are saying the pain will be somewhat mitigated. in the longer term, the picture would be brighter, so a lot of pressure on that deal happening. we are still hearing optimism that we could see a deal within days if some compromises reached. if there were a november deadline and there's no sign of compromise? jodi: dominic raab has been saying both sides are sho

building and lighting it on fire officers shooting tear gas in response local media say the budget slashes education and health care funding and gives lawmakers money to pay forheir meals china, a look at this, a crush loses control, crashing into a car, sending it rolling on to the side a man on the shoulder seen running for his life the car teeters, and falls off the highway. all five people involved sow survived officials say they were all wearing seat belts spain, police in madrid using drones to keep crowds in check they launched the drones after a popular flea market to open. back in business now, with half the crowd, and eyes over head. thailand some furry friends a piano player harnessing the power of music to bring attention to hungry monkeys. visitors typically feed them covid cut into tourism and the monkey's food fly. >> a wonderful opportunity to see wild animals just being themselves >> playing for a cause as we go around the world in 80 seconds. >>> no kids and no crowds, just two of the changes coming to the thanksgiving day parade. how macy's plans to pull it all off. >> and welcome to the thunder dome two birds enter, one bird leaves, who sh