2.5% cost this, 6 would cost this, roughly 6 billion a �*according the 2.2 for studies. institute for fiscalven 7 20 extra a year. more, 20 billion extra a year. and all that money would and all that extra money would hard to find at a time where [me [mm hue -ressure on other there's huge pressure on other government budgets. you government budgets. into the more on throw into the mix, more on defence. _ throw into the mix, more on defence, that adds up to an enormous economic political and = fiscal challenge, really difficult spot for the diffioutt spot for 353 773 to be diffioutt spot for 3537 _ to be in diffioutt spot for t—h3r= _ to be in and diffioutt 59mg— _ to be in and one e 7-7- 7—- 7 c! to deliver their 7 c! to deliver the r ability to deliver on the manifesto promises 7 — -—7 7 ukbut earaao. 7 ukbuttheraao. 7 uk buttherao. in ., v 7 - uk but the r ago. in other. the uk but the same in other countries do. their other financial across 7 and spending more europe and spending more on is likely to lead to defence is liketyto tead to difficult in other areas. increasing the on biggest g

777bill7i7on7to7d7ef7enc7e7 7 7 7 7 77bill7ion7to7defence budget7 £114 billion to defence budget by the institute for fiscaly sure that viruses the prime minister the chancellor, they 7 " run chancellor, they would have run through— chancellor, they would have run through the various numbers and that is— through the various numbers and that is the — through the various numbers and that is the job of her majesty's treasury... his majesty's treasury... his majesty's treasury... his majesty's treasury to work all majesty's treasury tow. ,... that majesty's treasury to'wcn'katt i that out majesty's treasury to'work a'd that out and no doubt this of that out and no doubt this will be — of that out and no doubt this will be looked at in detail. _ positivel aesentuating the positions .-.. fl ~ . aesehtuatihg the peeittte .-.. fl ~ . perhaps? the key for us is to do defence — perhaps? the key for us is to do defence spending - perhaps? the key for us is to do defence spending and do defence spending amount. and we need _ do defence spending amount. and we need to build our we will not be able to base. we will not be

would be costly, it would cost roughly 6 billion extra per year according to the institute fiscaléjiei—ee 3%, 77 77 for fiscalp wants 5% from allies, that's 80 from nato allies, that's 80 a year for the billion extra a year for the uk. and for figure, extra uk. and for any figure, extra will be hard to find at a mepey wit! besha rd tetind at a when mepeywitttteshardteflnd at a when there is time when there is already pressure on government budgets. if you throw in today makes a if yep threw— i n tedeyma hes a to spend if yepthrewsinstedeymahes a to spend billions, maybe need to spend billions, maybe of billions on tens of billions more on defence, it adds up to an —cal gggymous economic political and geggjjynous economic political and challenge. fiscal challenge. a really difficult spot for the to be in. it eeeerflieeflt te ee ins tt eepie "e”e'e’w'w their eeeereieeet te ee ins tt eepie ' " " their ability gseeefhfijeee te ee ins tt eepie ' " " their ability to threaten their ability to deliver on their manifesto promises made less a year promises made less than a year ago. promises made less than a year auo. .,

fiscal responsibility act. thank you. [captions copyright national cable satellite corp. 2025] captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org. historians discuss president lincoln's and we'll talk with on tick tock, youtube. at 7:00 p.m. watch american history tv first 100 days and start of presidential terms. we focus on andrew jackson first term in 1829 and his controversy surrounding his cabinet. and electric l tours, journalism

institute responsible income tax, ensure taxpayers know about their money is going and create real accountability for taxpayer dollars. it is time to bring common sense to this program and same fiscal responsibility to e.s.a.'s that away demand from every other program in state government. [applause] >> the arizona promise depends on it. in his opening message to the first regular session of the 35th legislature, the following words were delivered. the tax is not an easy one. the role of the critic is always easier than the problem solver. i'm confident we can reserve that which is good in our hedge and accept the challenge of the future. so as we put solutions together let's remember those words. arizonans are counting on us to be their voice, to lower costs, to support our schools and secure our border. to defend their freedom and keep their communities safe. to deliver the arizona promise. we are all arizonans. we love it, the people, the natural beauty, the opportunities and the freedoms. we know what is possible when we put our differences aside and do what is right. no obstacle is too great and no divide too wide. thank you for your commitment for serving and building a bette

fiscal decisions and we instituted prudent policies to protect ourselves. we should pause and note, those of us who were here two years ago can be gratified knowing we are responsible for being responsible. [applause] it's safe to say we nevadans are no strangers to hardship. it's a story of our nature. it's the nature of our story. so we must act accordingly. let me provide you with another example we've accomplished since taking office, this time in education. remember i said we. last session, we added over $2 billion in new funding for nevada students and schools. the largest education investment in our state's history. [applause] hand in hand with that historic achievement we worked last session to make our schools safer and more accessible to nevada families in all 17 counties. you heard the urgent voices of students, parents, and teachers that said the safety of our schools was under threat. they asked us to step up, to re-empower teachers and to give students the reinforcement they need to grow academically while also learning the value of respect and responsibility. i was proud to collaborate with the legislature last session to pass two bills that re-establish

mertz can institute reforms put it would be difficult for him to get the fiscal space for the thingst need to be done. these are serious questions. jonathan: appreciate your input, sir. holger schmiedling. donald trump has been consistent for much of the last decade. he's been justified making the push for the europeans to do more for themselves. the outcome of that election will complicate that push. lisa: it is going to be that much more difficult to remove the debt break. i love what mario draghi said a couple of days ago. you can say no to public debt, no to the single market, no to create a capital market union, but what are you going to do? i have no idea but do something. i think that is what people are wondering how that will happen. annmarie: it sounds like it will be harder for them to then increase military defense spending. that is going to infuriate donald trump. p has made it crystal clear in trump 1.0 and now 2.0 he wants hired nato defense spending to these countries. maybe as much as 5% of gdp. how does germany do that if they don't have the fiscal space? jonathan: w

fiscal solvency. we'll have the rover morning news. they are in use and workers are asking for more of a say in how their institutions are run a message to the managers and the host for san francisco arts and culture. >> plus, an update in the tragic death of a beloved professor. police say a man is now custody for his hit and run death. and the future of an iconic san francisco landmark uncertain this morning after president trump's latest executive order. what's at stake for th >> well, your for things for you to know today. one person is in the hospital after being struck by a car. san jose. so a stretch of first street was blocked off for several hours before it reopened around 8. police did not provide any other details on the crash. they say that investigation is ongoing. and officers inno valley say 2 drivers are critically hurt after a crash. police say this happened on miller avenue right in front of 10 applies high. the road was closed in both directions for some time. and oakland residents. they are starting to organize all in response to recent federal action affecting racial equality and equity. today, doctor brent, he su

institutions. caroline: mike sheppard, thank you for that. doge gaining a key ally we understand in the u.s. with veteran tech employee tom krause who has been appointed special government employee and will serve as fiscalistant secretary treasury. he is also the sea of cloud software group which saw deep cost cuts -- ceo of cloud software group which saw deep cost cuts. talk is through who he is and is deep cuts in the private sector. >> we are learning more information about tom krause, the doge pick at treasury by elon musk. he currently holds two jobs. one at treasury and one as ceo of cloud software group. cloud software group was formally known as citrix systems and that company got acquired for 16.5 early in dollars and equity leveraged buyout in 2022 -- $16.5 billion in equity leverage buyout in 2022. the impact of those cards on the security of citrix products. there is a net scala, security appliances, that have been at the center of a number of major hacks in recent years. we looked at to try to quantify the level and extent of the cuts to the security department at citrix and in impacts to the security of those appliances. we found the cuts were deep across the company, including the securit

the cato institute has ranked iowa the most fiscally responsible state and the country for three years running. but that was not always the case. when we started our alignment work in 2022, state operations had not been reviewed for 40 years, and it showed. layers of bureaucracy had accumulated over decades, expanding government beyond its core function we were too big, too fragmented, and too inefficient. one example became clear during covid where the separation of our public health and human services departments resulted in both location and gaps in service. we merged them into the department of health and human services in 2022, the first big step in our work to align state government. it was a successful proof of concept and roadmap, as we saw similar misalignment across state government. we had 11 separate state agencies operating workforce programs come a 136 professional licensing functions spread across 11 agencies. our administrative code had led to more than 20,000 pages with 190,000 restricted terms. at one point i discovered that the state owned a cow calf operation, and o

the cato institute has ranked iowa the most fiscally responsible state and the country for three years running. but that was not always the case. when we started our alignment work in 2022, state operations had not been reviewed for 40 years, and it showed. layers of bureaucracy had accumulated over decades, expanding government beyond its core function we were too big, too fragmented, and too inefficient. one example became clear during covid where the separation of our public health and human services departments resulted in both location and gaps in service. we merged them into the department of health and human services in 2022, the first big step in our work to align state government. it was a successful proof of concept and roadmap, as we saw similar misalignment across state government. we had 11 separate state agencies operating workforce programs come a 136 professional licensing functions spread across 11 agencies. our administrative code had led to more than 20,000 pages with 190,000 restricted terms. at one point i discovered that the state owned a cow calf operation, and o

institute. there are plenty of bears to entry in the eu, that's for sure. plenty of legitimate targets. vat feels like more of an issue with companies getting taxed more than european companies. it feels like a fiscal issue. lisa: which is why this complicates things. it is something has been decided on to raise revenue that all companies have to pay. jonathan: this conversation will continue through to early april or maybe beyond. up next, john lovallo on potential impact of tariffs on the housing market. from new york city, you are watching bloomberg tv. ♪ jonathan: coming off the back of the biggest week of gains on the s&p 500 and about a month. .4% on the nasdaq. the best week of the year so far. big tech getting it done. let's get some morning movers with manus cranny. manus: big tech leads again. intel, the story that splitting of the company is on the table because of two different bids. one from broadcom. tsmc looking at the foundry business. this is a national security question. it's a next ordinary complex -- an extra nearly complex company -- extraordinarily complex happening. southwest airlines, 1700 jobs. they have five seats on the board. constellation brands, what is your favorite b

. >> the institute for fiscal.dies disputes. >> starmer's claim. >> starmer's claim. >> that defence will rise. >> that defence will rise. >> by 13.4. >> by 13.4. >> million a year, saying. >> million a year, saying. >> the truth. >> the truth. >> truth will. >> truth will. >> increase is closer to 6 billion. the ifs is. >> warning that if defence spending. goes beyond. >> 2.5%, further cuts or. >> 2.5%, further cuts or. >> tax rises. >> tax rises. >> may be needed. the prime minister says the move is needed to counter vladimir putin and uncertainty over us support, ahead of talks with donald trump this week. >> starting today, i can announce this government will begin the biggest sustained increase in defence spending since the end of the cold war. the. we will deliver our commitment to spend 2.5% of gdp on defence, but we will bring it forward so that we reach that level in 2027. >> here, here. >> here, here. >> and we will maintain that for the rest of this parliament. >> now, energy bills. >> now, energy bills.

wickets uplift comments on be worth like £6 on be worth more like £6 billion on the independent institute for fiscalhat. some administrations to that. some of more important missile system britain we re werfe apparently lack which were apparently lack which were apparently lack which is more complicated to do and that has been talk of need for more missile defence systems potentially as well as having greater of having greater amount of weaponry. there's also going to a boost to defence around the because there will be country because there will be more and aircraft, more procurement and aircraft, and reversing cuts to the armed forces themselves and 10,000 fewer the army will fewer soldiers in the army will have to wait see if that have to wait and see if that strategic defence for some strategic defence and for some the lessons uk citizens, they seemed to in the seemed to be in the latter. and the children is to scrap f is terrible and the the cuts is terrible and the poorest and talk roads poorest children and talk to the chair �*the to the chair of the international development and said they wer