the head of the institute for fiscal studies labels some of liz truss' tax cutting policies as �*worryings. let's bring you more then on that story, the institute for fiscal studies dr becky smethurst. studies dr becky let's story, the institute for fiscal studies dr becky let's get more on that story about the institute for fiscal studies being quite critical of some of liz truss's policy promises and announcements. let's bring you more on that with david wallace lockhart, our political correspondent. the cost of living crisis has put this whole tory leadership race very much in the spotlight and the discussion of their various economic promises and liz truss is coming in particular scrutiny today.— liz truss is coming in particular scrutiny today. that is right, ben, so liz truss _ scrutiny today. that is right, ben, so liz truss has _ scrutiny today. that is right, ben, so liz truss has always _ scrutiny today. that is right, ben, so liz truss has always said - scrutiny today. that is right, ben, so liz truss has always said tax i so liz truss has always said tax cuts will be her prior

the head of the institute for fiscal studies labels some of liz truss's tax cutting policies as "worrying energy costs. good morning. rory mcilroy has became the first player to win the tour championship three times after success last night in the pga's tour championship. it's the northern irishman�*s most significant victory since he last won it three years ago and as a result he's now over £15 million richer. with the story of mcilroy�*s historic day here's nick parrott. a souvenir from a special day. little did this young fan know he was about to witness history. when rory mcilroy teed off for his final round, he was six shots behind scottie scheffler. catching the world number one was going to be a huge task — but one the northern irishman was more than up for. fortunately for him, the american was giving him a helping hand by dropping shots on the fourth and sixth holes. while mcilroy was on song — a hat—trick of birdies, and he was finally level with scheffler. the pair swapped the lead more than once — this was going to be about who could hold their nerve in this intense battle. ro

the head of the institute for fiscal studies labels some of liz truss�*s tax cutting policies as �*worryingd inadequade for dealing with rising energy costs. the ukrainian military has begun its long—awaited offensive on the southern front. it claims to have broken through the first line of russian defence around the main city of kherson. pakistan is set to launch a global appeal for the flooding catastrophe that's killed more than a thousand people and affected 30 million. a rapid rise in vaping over the past decade reaches record levels in great britain with an estimated a5 million people taking up the habit. and after a two year pause due the pandemic, europe's largest street party kicks off its final day at the notting hill carnival in west london. nasa has cancelled today's launch of its most powerful rocket, artemis one, which had been due to take off for an uncrewed test flight to the moon. the us space agency said one of its engines had developed a bleed that couldn't be fixed in time; the next possible launch date is friday the second of september. the artemis programme aims to ret

as the institute for fiscal _ inflationary. as the institute for fiscal studiess says, this might reduce inflation by 2%, you are still talking about 60% inflation if predictions of 18% next year arise. --16% _ predictions of 18% next year arise. —— 16% inflation. tax cuts that don't — —— 16% inflation. tax cuts that don't help— —— 16% inflation. tax cuts that don't help usually, the national insurance — don't help usually, the national insurance rise scrapping that she plans _ insurance rise scrapping that she plans to — insurance rise scrapping that she plans to do would benefit the lowest 10% by _ plans to do would benefit the lowest 10% by 76p a month, that's all but the richest — 10% by 76p a month, that's all but the richest 10% by £93. jo, 1096 by 76p a month, that's all but the richest 1096 by £93. jo, treasury officials also — the richest 1096 by £93. jo, treasury officials also working _ the richest 1096 by £93. jo, treasury officials also working on _ the richest 1096 by £93. jo, treasury officials also working on parallel- officials also working on pa

comes as the foreign secretary's team hit back at criticism of her economic plans from the institute for fiscal studieskistan makes a global appeal for help — after a flooding catastrophe that's killed more than a thousand people and affected 33 million. the ukrainian military has begun its long—awaited offensive on the southern front. it claims to have broken through the first line of russian defence around the main city of kherson. after a two year pause due the pandemic, the notting hill carnival in west london is coming to an end this evening. and, coming up a five thirty, we investigate if workers are being exploited — and if �*hustle culture�* has gone too far — in "the dark side of direct sales." in the last few minutes, its been announced that the conservative leadership candidate liz truss has pulled out of a bbc one television interview with nick robinson tomorrow evening. it comes after ms truss�* team hit back at criticism of her economic plans, after the institute for fiscal studies think—tank said they were "simplistic" and warned that proposals to cut some taxes could crash the economy.

pauljohnson, the director of the institute for fiscal studies for click respected economic think—tankg to the times newspaper and he has warned this could not all be done without in his words completely crushing the public finances. he added it is simplistic to say that cutting taxes leads to economic growth and he says that all of these policies are quite worrying at a time of high inflation and big deficits. liz truss's campaign has responded, a spokesperson saying her policies will tackle the economic orthodoxy, they say they will boost growth rates in the long term. paul johnson's criticism is notjust for liz truss. when it comes to rishi sunak, the other contender, he says both candidates don't have adequate plans to deal with the current economic situation. we will have a new prime minister one week today, i'm not sure if the two candidates have been listening to the former labour chancellor alistair darling, who was chancellor during the 2008 economic crash, who has been on the radio this morning, says the two candidates have been coming up with small measures he says they need

the head of the institute for fiscal studies labels some of liz truss�*s tax cutting policies as �*worryingequade for dealing with rising energy costs. the ukrainian military has begun its long—awaited offensive on the southern front. it claims to have broken through the first line of russian defence around the main city of kherson. pakistan is making a global appeal for the flooding catastrophe that's killed more than a thousand people and affected 33 million. now on bbc news, the bbc�*s mariko oi travels across japan to see what impact new funding may have on tech and explores whether it has the potential to be asia's silicon valley. home of nintendo and the bullet train, japan was once a pioneer in innovation, but then fresh global competition emerged. i'm heading home to meet the next generation of entrepreneurs across a country where starting your own business wasn't always seen as an ideal career choice. for many areas, start—ups have kind of disadvantages injapan, but from now it'll be changed. the government is putting its weight behind this and has tapped into its huge pension fund

the head of the institute for fiscal studies labels some of liz truss�*s tax cutting policies as �*worryingadequade for dealing with rising energy costs. french police launch an investigation after former manchester united footballer paul pogba claims he's the victim of a blackmail plot by an organised gang. and gibraltar can officially call itself a city, 180 years after it was first granted the status by queen victoria. now on bbc news, click. this week, we will catch up with an olympic superstar hoping to help women exercise smarter. i'm trying to run for a gold medal here, but i'm also very aware that i've just started my period. chris is braving the cold. still, he has some furry friends to keep him warm. but what is he doing with his phone? who knows. show me your nose? and all aboard the new elizabeth line as paul's schoolboy dreams come true. this station is paddington, where this train terminates. all change, please, all change. i have always wanted to do that. on your marks, get set, go! can you believe that it's exactly ten years since this site was just getting ready to host the

the head of the institute for fiscal studies labels some of liz truss's tax cutting policies as "worrying former manchester united footballer paul pogba claims he's

the head of the institute for fiscal studies labels some of liz truss's tax cutting policies as �*worryingith rising energy costs. a rapid rise in vaping over the past decade reaches record levels in great britain with an estimated li.3 million people taking up the habit. and... after a two year pause due the pandemic, europe's largest street party kicks off its final day at the notting hill carnival in west london. now on bbc news...hardtalk. welcome to hardtalk. i'm stephen sackur. we humans face a series of interlinked existential challenges. how do we feed a global population heading toward 10 billion? can it be done without degrading ecosystems and exacerbating climate change to a calamitous extent? well, my guest today, the writer and environmental campaigner george monbiot, has spent decades addressing these questions and framing radical answers. why are so many politicians and voters seemingly unwilling to listen? george monbiot, welcome to hardtalk. thanks, stephen. you have been a campaigner and writer on environmental issues for decades, warning about the toxic relationship betw

comes as the foreign secretary's team hit back at criticism of her economic plans from the institute for fiscal studiesvelling in its return — the notting hill carnival comes back to london's streets for the first time in three years. and, coming up at 8.30pm — we meet the members of one of ukraine's top rock bands, who've become army medics in kharkiv, helping the military to fight invading russian forces. good evening and welcome to bbc news. the devastation caused in pakistan by extensive flooding has been called a crisis of unimaginable proportions by its climate change minister. she says that a third of the country is now underwater. the disaster has killed over 1,100 people and affected 33 million. international help has begun to arrive but water is still surging down the indus river and will flood low—lying sindh even more over the next few days. the province has received eight times its average rainfall for august. the bbc has been filming across the country, including our correspondent pumza filhani who has sent this report from sukkur, a city in sindh. a moment of quiet in the middle of chaos

the head of the institute for fiscal studies labels some of liz truss�*s tax cutting policies as worryingnadequade for dealing with rising energy costs. french police launch an investigation after former manchester united footballer paul pogba claims he's the victim of a blackmail plot by an organised gang. and gibraltar can officially call itself a city, 180 years after it was first granted the status by queen victoria. good afternoon. nasa is to launch a new era of moon exploration. later today the most powerful rocket it's ever built will blast off from the kennedy space center in florida. the artemis test flight will orbit the moon and it's hoped will help pave the way for a crewed mission to the lunar surface in three years. our science editor, rebecca morelle reports. it's almost time. standing on launch pad 39b, the same one used by the apollo missions, the most powerful rocket nasa has ever built is ready for liftoff. the rocket is simply enormous. and it's only when you're standing here that you really get a sense of its size. and this is the last chance we'll see it up close. th

comes as the foreign secretary's team hit back at criticism of her economic plans from the institute for fiscal studiesling in its return, the notting hill carnival comes back to london's streets for the first time in three years. now on bbc news, six months ago thousands of ukrainian civilians joined the military to fight invading russian forces, including members of one of ukraine's top rock bands, antytila. come on. come on, come on. our music has vibration of love, but war has vibration of hate. we don't have a lot of equipment, so we need to buy this equipment by ourselves. i have no tears anymore. i'm tired to cry. blood smells disgusting for me. and we are camouflaging this car to give it back to the front line. the sadness defeat me. every day like this. i'm the frontman of antytila, a popular band in ukraine. and now me with my friends, with my colleagues serving in territorial defence forces in kharkiv region. we are in our store, in our supply depot. here is a lot of bandages, tourniquets. we saved a lot of lives using this tourniquets. we are paramedical team. paramedical squad. first of al

comes as the foreign secretaries team hit back at criticism of her economic plans by the institute for fiscal studies. nasa has postponed the launch of the art of a space rocket on its mission to the moon because of last minute technical issues. military began its long—awaited on claims to have broken through the first line of russian defence. the notting hill carnival has been back on the streets of london's for the first time in three years because of the pandemic. bbc news it's time for sports day. hello. thanks forjoining us for this bank holiday sportsday. coming up... a decade on from the london paralympics. has it inspired a generation and changed para—sport for good? there's more murray magic at the us open whilst the world waits for serena's swansong. right on target at the tour championship and rory mcilroy aims his next shot at those liv golfers. i hate would ensue into the game of golf, i hated, like, i really do. welcome to the programme. a special anniversary ten years to the day a special anniversary ten years to the day of a special anniversary ten years to the day of the a special an

comes as the foreign secretaries team hit back at criticism of her economic plans by the institute for fiscal studiesf a space rocket on its mission to the moon because of last minute technical issues. military began its long—awaited on claims to have broken through the first line of russian defence.

leadership candidate liz truss have been described as �*simplistic�* and �*worrying' by the institute for fiscal studiesn grammaticasjoins me now. why do they say this, and what does she say in reply? the institute is a very respected think tank for its economic analysis. remember, liz truss's plan is essentially cutting taxes, so reversing the recent rise in national insurance, potentially not going ahead with an increase in corporation tax. it has also been talked about that she could cut vat rates and income tax rates. paul johnson, the director of the iss, says it is simplistic to assume that cutting taxes leads to higher growth, and in the current situation, it could just fuel inflation and make things worse. he says what's worrying for him is that there would be tens of billions of pounds flowing into government coffers that would not now becoming if that happened, and he said that could risk crashing the public finances. rishi sunak�*s team have said tax cuts would really benefit the best off and not those who most need the help, but his plans have also been criticised by paul johnson, who said t

the head of the institute for fiscal studies labels some of liz truss's tax cutting policies as worrying police launch an investigation after former manchester united footballer paul pogba claims he's the victim of a blackmail plot by an organised gang. and gibraltar can officially call itself a city, 180 years after it was first granted the status by queen victoria.

the head of the institute for fiscal studies labels some of liz truss's tax cutting policies as worryingd the status by queen victoria. good morning. nasa is to launch a new era of moon exploration. later today the most powerful rocket it's ever built will blast off from the kennedy space centre in florida. the artemis test flight will orbit the moon and it's hoped will help pave the way for a crewed mission to the lunar surface in three years. 0ur science editor, rebecca morelle reports. it's almost time. standing on launch pad 39b, the same one used by the apollo missions, the most powerful rocket nasa has ever built is ready for liftoff. the rocket is simply enormous. and it's only when you're standing here that you really get a sense of its size. and this is the last chance we'll see it up close. the launch pad is closing and fuelling is about to begin. because in just a few hours' time, this will be blasting off. the first step in our return to the moon for 50 years. we talk about moonshots as things that humans can do when we put our differences aside and we focus on the mission an

i think the most interesting reaction so far as from the institute for fiscal studies, very highly respected down inflation but only a temporary change with no difference in the long run unless these measures are continued beyond next april and there was no commitment on that at all from keir starmer. what happens after april matters because you have to retain measures to reduce inflation but they do not suggest we are wrong when we see our plan will reduce inflation and therefore huge payments will be made on our debt therefore huge payments will be made on ourdebr, , therefore huge payments will be made on ourdebu, , ., , on our debt because of rising inflation- _ on our debt because of rising inflation. u— on our debt because of rising inflation. it is _ on our debt because of rising inflation. it is true _ on our debt because of rising inflation. it is true that - on our debt because of rising inflation. it is true that in - on our debt because of rising i inflation. it is true that in april and the latter end of next year all of us will be asked what are you going to do no and that is wh

the institute for fiscal studies there analysing labour's announcement.le who aren't covered by the price cap. labour said it would bring them in line with those who are. as you've heard there, it is a choice to say that everybody will get this regardless of whether you're wealthier or less wealthy. sir keir starmer said there were many, many millions of households who would be struggling to pay bills if there are those price rises. of course, you heard him say as well that by bringing this and, it would slow the rate of information overall. ., �* , ., slow the rate of information overall. . �* , ., ., overall. that's what the labour pa is overall. that's what the labour party is proposing. _ let's now look at what government support there actually is. there will be a £400 rebate for all households in autumn, with the money being paid in six instalments, and an extra £650 for 8 million low—income households. but the government says there will be no more support until the new prime minister is in place in september. so, let's compare what the conservative

earlier, her team defended her economic plans after a leading think tank, the institute for fiscal studiesukrainian counter—offensive against russian occupation forces is underway in the south of the country. a senior advisor to president zelensky says ukrainian troops have broken through several sectors of russian defence lines near the city of kherson. and ukraine says russia's proxy militias have retreated along with their supporting russian paratroopers. in the last few weeks, ukraine has been pummelling key bridges across the dnipro river and ammunition dumps with high—precision rockets. but russia's defence ministry claimed the offensive was a "spectacular failure", with the ukrainians losing 50 tanks and personnel carriers and more than 500 troops. 0ur ukraine correspondent james waterhouse sent us this update it is clear the ukrainians are making a push. there are more reports tonight of explosions close to the city of kherson. ukrainians claim they have taken out key bridges connecting the city to russian—occupied territory. they say they have pushed through the first russian defe

earlier, her team defended her economic plans after a leading think tank, the institute for fiscal studies this is a very respected economic think tank, they scrutinise economic production reports and analysis, and what the director of it has had is that liz truss's plan which essentially involves cutting lots of taxes, which is what she will do, that is the way to help people to the current situation, he says that is simplistic because the idea that you cut taxes and get economic growth as a result does not always follow, and in fact in the current situation with high inflation, cutting tax rates could just push inflation even higher and make the problem worse, he has warned. he has also said it is very worrying because cutting taxes, and that would be if he went through with all the things they were talking about, tens of billions of pounds would be less money in the government coffers and that is why he said it is very worrying, it could crash the public finances. herteam worrying, it could crash the public finances. her team have said it is a bold plan that will help businesses create

the head of the institute for fiscal studies labels some of liz truss�*s tax cutting policies as �*worryingde reaches record levels in great britain with an estimated a.3 million people taking up the habit. and after a two year pause due the pandemic, europe's largest street party kicks off its final day at the notting hill

earlier, her team defended her economic plans after a leading think tank institute for fiscal studiesmmaticas has more. the director has said that liz truss's plans, which essentially involves cutting lots of taxes, she thinks that is the way to help people through the current situation, he says that it simplistically is the idea that you cut taxes and get economic growth as a result does not always follow that way and in fact in the current situation with high inflation cutting tax rates could just push inflation even higher and make the problem even worse, he has warned. he also says it is very worrying because cutting taxes, and that would be if you went through with all the things that has been talked about, tens of billy's pounds, i would be less money going into government coffers and that is very worrying, it could crush the public finances. herteam worrying, it could crush the public finances. her team say this is challenging orthodoxy, it is a bold plan that could help create jobs and deliver long—term economic growth but in the light of the cancelling of her tv interview, wh

comes as the foreign secretary's team hit back at criticism of her economic plans from the institute for fiscal studiespakistan makes a global appealfor help — after a flooding catastrophe that's killed more than a thousand people and affected 33 million. the ukrainian military has begun its long—awaited offensive on the southern front. it claims to have broken through the first line of russian defence around the main city of kherson. now on bbc news, our reporter lora jones investigates if workers are being exploited and if "hustle culture" has gone too far in the dark side of direct sales. the world of door—to—door sales and selling on the street has been rebooted for the social media age. young people are being promised big money, glam work trips abroad and the chance to work with some of the biggest brands in the uk. but the reality can be very different. i'm lora jones and, for the past year, i've been investigating the dark side of the direct sales industry. are young people chasing a dream they can never achieve? just, like, chews you up and spits you out. i probably blew about £2,000 in, like,

minister faces a worsening fiscal outlook and that raises questions about the viability a big tax cuts promised by the candidates vying for the top job. the institute for fiscal studiesit is hard to square their promises with managing finances responsibly due to the fact that neither have pledged spending cuts to finance the giveaways. ukraine's credit score has been lifted out of default by fitch as the nation and ask its agreement with creditors to delay credit payments. bondholders agreed to deter for two years to help the war-torn country. britain is set to face days of disruption in the so-called summer of discontent. rail workers are set for nationwide strikes as staff hold walkouts in london. that action will be followed by an eight day strike. it threatens shortages of everything from toys to consumer electronics and clothes. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. dani: -- manus: thank you very much. foil markets are facing high risk of a supply squeeze this year. my interview is up next. this is bloomberg. ♪ manus: it is daybreak europe.

but the institute for fiscal studies says to bring inflation down long—term, these subsidies would needhan six months, costing billions more. we're looking at the same scale of support as we had through their furlough scheme through covid and this is clearly something bigger than the current government are offering, and it would ensure that none of us saw any increases above current levels in our energy bills. now, that has the very positive effect of making sure that nobody is losing out, but of course, it also provides big subsidies to lots of people who, frankly, don't need it and could afford higher energy bills. neither of the candidates hoping to be the next prime minister have signalled they'd back an energy price cap freeze or extend the windfall tax on oil and gas companies. is it time to support - an energy price cap freeze? liz truss says she'd cut national insurance and suspend green levies on bills and hasn't ruled out further targeted support. rishi sunak says, as well as spending vat on energy bills, more targeted support would be needed once the new price cap was announc

the institute for fiscal studies has done some work, saying, if we get 13% inflation in october, peoplelation closer to 18% to 20%, so, really difficult, which is why people are so stricken, when i was out in the streets of leicester yesterday and they wanted to know what further support was coming, and i spoke to the chancellor this morning and he said his main priority was delivering on the package which has already been announced by his predecessor rishi sunak. everyone is desperate for more detail on what extra support will be coming in october. they haven't furnished us with that yet. they say they are working up some options for the next prime minister, whoever that may be, to engage with those and to announce something. but he did say they were also looking at january, when the following price cut comes in, but at the moment, no detail on extra support, and people are really, really concerned.- are really, really concerned. simon jack, are really, really concerned. simon jack. thank — are really, really concerned. simon jack. thank yon — and you can work out how much prices are l

and the think tank the institute for fiscal studies says the next prime minister will probably have toconservative leadership candidates of having "almost nothing to say" about the issue. on a hospital visit this morning, a prime minister with just ten days left in the job. he has previously announced financial support for the months ahead but says his successor will do more. there is a pipeline of cash coming through over the next few months and through the autumn and the winter, but that is clearly now going to be augmented, increased by extra cash that the government is plainly going to be announcing in september. so, what have the candidates to become prime minister promised? liz truss wants to scrap the rise in national insurance and has said she will suspend green levies on energy bills. rishi sunak has promised to scrap vat on bills and has said there will be more targeted support for the most vulnerable. we still haven't got full details of rishi sunak�*s plans. i will move incredibly quickly to put in place the support that is required and give certainty to people that that he

when it comes to these plans for the energy price cap freeze, the institute for fiscal studies says itook at this again, come december coming because we don't know what will happen next year. at the moment we have costed £29 billion. we would take 8 billion of that from the oil and gas producers... the take 8 billion of that from the oil and gas producers. . ._ take 8 billion of that from the oil and gas producers... the cost of the furlou:h and gas producers... the cost of the furlough scheme _ and gas producers... the cost of the furlough scheme was _ and gas producers... the cost of the furlough scheme was £70 _ and gas producers... the cost of the furlough scheme was £70 billion. i and gas producers... the cost of the furlough scheme was £70 billion. so the institute for fiscal studies says it would be the same scale of support as the furlough scheme. you may have costed it at 29 that there is a massive gap between what you have costed and 70 billion. that was the furlough — have costed and 70 billion. that was the furlough scheme _ have costed and 70 billion. that was the furlough

this has been picked up by the institute for fiscal studies who say those savings on government debt more thoroughly than the two tory leadership candidates. rishi sunak has said he would suspend vat on energy bills and provide more payments to the most vulnerable households to help with bills this autumn, liz truss thinks that the way to help people is to buy scrap that planned rise to a national insurance tax and suspending green levies on energy bills. lots of ideas on the table but the key thing to remember here is that neither labour nor liz truss or rishi sunak are currently leading the country so these ideas are just that, ideas. any final decisions about what support might be available to people will only be announced when we know who the new prime minister is going to be. . .. who the new prime minister is going to be. ., ,, who the new prime minister is going to be. . ~' , who the new prime minister is going to be. ., ,, y., , . to be. ok, thank you very much indeed for _ to be. ok, thank you very much indeed for now. _ it's exactly a year since the taliban seized power in

one thing the institute for fiscal studies did say was that labour had been more extensive and castingi sunak and liz truss. les tras has said the way to help people is cancel the national insurance rise and put more money backin insurance rise and put more money back in people's pockets three cutting taxes as well as the spending green levies, rishi sunak says more support will be needed for households, especially more vulnerable households this winter and also says he would suspend vat on energy bills. at the moment all these plans are hypothetical from both leadership candidates and from the labour party with none of them currently in a position to be able to make a definitive decision, given that they are not currently in power so as it stands, people looking for answers about what exact support will be available in the autumn will have to wait longer until we know who the next prime minister will be. thank you. let's speak to nick butler, who's a former head of strategy at bp and visiting professor at king's college. what do you think of the ideas from the labour party? than? what

comes as the foreign secretary's team hit back at criticism of her economic plans from the institute for fiscal studies

the head of the institute for fiscal studies labels some of liz truss's tax cutting policies as "worrying

but the taxation think tank, the institute for fiscal studies says the next prime minister will probably package of support". labour has accused the two conservative leadership candidates of having "almost nothing to say" about the issue. our political correspondent david wallace—lockhart reports. on a hospital visit this morning, a prime minister with just ten days left in the job. he has previously announced financial support for the months ahead but says his successor will do more. there is a pipeline of cash coming through over the next few months and through the autumn and the winter, but that is clearly now going to be augmented, increased, by extra cash that the government is plainly going to be announcing in september. so, what have the candidates to become prime minister promised? liz truss wants to scrap the rise in national insurance and has said she will suspend green levies on energy bills. rishi sunak has promised to scrap vat on bills and has said there will be more targeted support for the most vulnerable. we still haven't got full details of rishi sunak�*s plans. i will

we can now hearfrom pauljohnson, director of the institute for fiscal studies. view? most of the inflation is generated externally by what has| generated externally by what has been happening to supply chains across the world and commodity prices and gas prices and the russian invasion of ukraine. while there is a case for saying the bank could have acted somewhat earlier towards the end of last autumn, for example, and i think there is a case for saying they should not have printed quite so much money during covid. the difference that would have made is pretty small compared with the 13% inflation we are seeing at the moment and it is absolutely right, clearly, they raise interest rates now, still two extraordinarily low levels by historical standards. we are tight for time and there are a number of aspects i want to get your view on. is inflation inevitable, a quick response, if you can. . . inevitable, a quick response, if you can. , , , inevitable, a quick response, if you can. ,, ., ~ inevitable, a quick response, if you can. ., can. liz truss says no. i thi

the institute for fiscal studies said only a minority of top earners, who pay off their loans in fullcame to life was adored by millions and became a fixture of british television at christmas. david sillito reports. it's become part of christmas — the snowman that comes to life. magical, heart—warming and, at the end, the snowman melts. # we're walking in the air #. a very raymond briggs twist. he was a children's author who wasn't really writing for children. oh, strip cartoon, raymond briggs — children's department. that's been the attitude in england now — a strip cartoon, children's book. but we're growing out of that a bit now, about half a century too late. it was his father christmas that was raymond briggs' breakthrough. but this was no jovial gift bearer. this father christmas moaned, swore and drankjust a bit too much. what i normally do with most of my things is have something that's fantastical, like father christmas, like fungus, and imagine it to be wholly real and follow it through logically from there. it's a fouljob, out all night on your own, flying about in icy tem

there are those including the institute for fiscal studies who say tax cuts will not achieve much exceptly a big fan of the iss, economy. i'm normally a big fan of the 155, they _ economy. i'm normally a big fan of the 155, they are _ economy. i'm normally a big fan of the 155, they are good _ economy. i'm normally a big fan of the 155, they are good on - economy. i'm normally a big fan of the 155, they are good on the - the iss, they are good on the nitty—gritty of public finances and tax and spend but they are not that great on the big picture, the macroeconomics and a lot of there analysis misses that broader context of how deep the economic crisis is. specifically on inflation they are wrong there. whether tax cuts are inflationary or not depends on the monetary policy response so if you cut taxes and increase borrowing and fund that... that would be inflation. but that's not what liz truss is proposing, its redistribution of income in the economy and that will not cause inflation. �* �* , ., , economy and that will not cause inflation. �* �*, . , ., ., inflation. but it's a bit rand

the institute for fiscal studies puts your shortfall at £8 billion.ould take that with a pinch of salt 0ur— time. i would take that with a pinch of salt. our packages with 29 billion— of salt. our packages with 29 billion and we will pay for that in three _ billion and we will pay for that in three ways. first of all, an increase _ three ways. first of all, an increase in the full tax permit backdating the windfall tax on oil and gas — backdating the windfall tax on oil and gas companies to january this year and — and gas companies to january this year and getting rid of the investment that would see money paid back to _ investment that would see money paid back to oil— investment that would see money paid back to oil and gas companies. that would _ back to oil and gas companies. that would raise — back to oil and gas companies. that would raise £8 billion. we would re—purpose the government money already— re—purpose the government money already announced to fund the price cap. already announced to fund the price cap and _ already announced to fund th

and let me remind you, for example, gaich, a researcher at the institute for european studies, was in contact with you. reducing the fiscaland the development of domestic demand at the meeting the president of the government proposed measures to support metallurgists how the industry is feeling now, my colleague anna lazareva anna will tell you good afternoon. why did you need this support alexander hello the situation is such that several companies work at a loss at once. meeting on vladimir putin began the development of the metallurgical complex by listing priorities in the focus of attention, according to the president, there should be ensuring domestic demand, russia will also always be a reliable supplier of metallurgical products abroad, regardless of circumstances. however, it will not work to its detriment from sanctions , but all these decisions taken by western countries for the sake of political interests, moreover, current market interests and not reflecting the realities of world politics or the world economy, lose. actually in fact, even obvious and understandable consequences were not taken into account, i