is blob: liz truss' 44 days in office."if yum pictures -- palladium pictures. michael, good to see you. why do a documentary on liz truss who most british pundits consider a failure? enter well, i think we can learn from her failures. and as you know, the series, we examine issues, events, things that happen in the recent past that people may have forgotten or misreported that have some lessons for today. and the liz liz truss story is perfect for that. although her story is well known in the u.k., i think you quite right, that most people in america can't even place her. if anything, they remember she was prime minister when the queen died. but really her story has a lesson that's very appropriate now. she feels she was done in by the blob, hence the title, and the mob is their term for the administrative state for the swamp, a much better term, i think. and we let her make that case. but as usual with these films that we do with you, we have all sides and we have people who disagree with her both in her own party, the tor

liz truss resigned after 44 days in office. a new in the documentary is telling her story and offering a warning about the dangers of the deep state both over there and over here. liz truss is next. ♪ ♪ at harbor freight, we design and test our own tools. and sell them directly to you. no middleman. just quality tools you can trust at prices you'll love. whatever you do, do it for less at harbor freight. ♪ y'all see this, patrick mahomes is saying goodbye! patrick! patrick! people was tripping. where are you going!? he was actually saying goodbye to his old phone. i'm switching to the amazing new iphone 16 pro at t-mobile! it's the first iphone built for apple intelligence. that's like peanut butter on jelly...on gold. get four iphone 16 pro on us, plus four lines for $25 bucks. and save on every plan versus the other big guys. what a deal. that's a lot if you ask me. ya'll giving away too fast t-mobile, slow down. ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-d

. >> liz truss, liz truss, liz truss, that's tessa. >> she's known as tess. >> she's known as tess. >. >> because tessa is short for liz. >> same kind of name. okay. >> same kind of name. okay. >> right. lewis independent. and keir starmer is cosying up to donald trump. he hasn't been this nice to a billionaire since he wanted free glasses. >> oh my god i'm i'm so bitter tonight. but this is this is the independent which really isn't a newspaper. they don't have a they don't have a hard copy. they're just online. so why not put it in the daily wire or joe rogan or something? >> it's not a newspaper anyway because you can't tell us the price that way because there is no price. >> it's basically free or you got to pay money on subscription, whatever. but keir starmers royal plan to charm donald trump, which is a higher peter mandelson to go to washington to be the british british ambassador to washington. and this guy is the epitome of a super villain from, you know, you expect who's the guy? what's the movie going up to? the to the nakamura tower? whatever. >> die hard, die hard. he's

growing risk some point there might be a bigger sell off, along the lines of what we saw during the liz trussdes, particularly if one of the two major opposition parties were to get into power both advocated loosening fiscal policy. in both advocated loosening fiscal oli . , ., policy. in terms of the situation _ policy. in terms of the situation in _ policy. in terms of the situation in europe - policy. in terms of the situation in europe as| policy. in terms of the l situation in europe as a policy. in terms of the - situation in europe as a whole, germany are having troubles, we have had a budget here in the uk that has had a divided reaction as well.- uk that has had a divided reaction as well. yes, germany is an interesting _ reaction as well. yes, germany is an interesting one _ reaction as well. yes, germany is an interesting one because i is an interesting one because they are the opposite problem, they are the opposite problem, they have run very tight fiscal policy in many, many people's opinion and the idea is for them to spend mother, it looks as though they will do that but it ta

experienced under liz truss. set of things have been put in place to stop the run we saw back then? guest: the simplest way to think about this, is that in the old days, every country has to insure itself by itself. and what europe has done very well since the debt crisis, is p ooled insurance. you have the entire pool of the eurozone ensuring other countries. strong institutions, better crisis management experience. so while this crisis will undermine growth both in france and in europe, while it will lead to higher interest rates in france, it will not be a repeat of the 2012 european debt crisis. christian: but what we do have is a eurozone slow down. we have crisis in france tonight, the german economy stalling as well. how does that affect the u.k. because though we are outside europe, banks are still very much integrated with europe. guest: it impacts the u.k. in two ways. one is trade. europe is still a big market for the u.k., and demand for british goods from the u.k. will be lower than it would have bee

around liz truss. so what happens next if this government is toppled this week? >> what happens next is the president will have to name a new prime minister. he could actually be named michel barnier, who will remain as a caretaker until the new prime minister is named and that could take a while. because there is no majority in parliament it took two months for emmanuel macron to choose a prime minister. and whether he will actually turned to the centerleft this time like we expected last time remains to be seen. this alliance could still rake up with part of the centerleft joining forces with the right wing but that seems like a long way out so some mps from the left are actually calling for him to resign. this would obviously be a bad scenario for the markets but it is clearly a scenario that is not totally off the table at the moment and some parties are also saying that marine le pen is not acting rationally since her trial. she is on trial for alleged embezzlement of european union public funds. the verdict is expected on march 31 but she risks being banned

they're still paying more in their mortgages after that liz truss mini—budget that crashed the economys spiralling. they're still paying more in their food shops than they were a couple of years ago. so we want people to feel better off in every part of the country. and that i think is what we'll be judged on. and civil servants watching this tonight, they can sleep soundly tonight knowing that you and them are on the same side? look, there are civil servants that do brilliant work. just last week, i was visiting the cabinet office's second headquarters in glasgow, meeting with brilliant civil servants up there. there are also some fantastic people in whitehall that i've had the privilege of working with over the last couple of months as well. which is why it's weird that keir starmer seems to suggest they weren't doing a good job. but we need to make sure that people are being the best that they possibly can, get out of siloed working and make sure that we can achieve this ambition for our country. ellie reeves, thank you. that was a bit earlier. you heard me reading out one of his so

liz truss was tweeting this morning.regulation, more spending, more immigration, more net zero leads to lower growth. the economic doom loop continues. has she been vindicated this morning? >> the thing is that everybody forgets about liz truss's mini—budget. people concentrate on the, you know, the tax cut for the wealthy, which was a tiny amount of money. the problem was she also wanted to spend billions on propping up people's energy prices. now, that's not a small state policy at all. it was an emergency debt. well, it may be a popular policy, but it was that debt that spooked the markets, not the end to the bankers bonus tax. i think it's important to remember that. >> i think particularly for businesses, those at that point when russia had invaded ukraine, businesses were going under the cost per unit was something like £1.50. >> i'm not arguing that we shouldn't be subsidising people's energy prices. i'm saying that the narrative is she crashed the economy because she ended bankers bonus tax. that's not true. she

prime minister liz truss, she has a new documentary about her 44 days in office.>>> house judiciary committee chair jim jordan will weigh in on the possibility of more biden family pardons. there are calls for manhattan d.a. alvin bragg to resign after daniel penny's not guilty verdict. jon levine will cover that for us. >>> and the murder of the united health care ceo revealed issues with obamacare. "the wall street journal"'s allysia finley explains that. the 10:00 hour is next. ♪ ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? .. swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. time's running out to save on your move with pods. book b

. >>> let's send it to christina parts ve liz truss. >> any, mike. i know there's been a lot of talk of a.i. -- smaller models are getting better, possibly decreasing the need for a.i. gpus. if you were to lump all the a.i. winners like broad come, arm, their average return on the year is 107%, far outpacing the broad chip etfs, which was up about 41% and the stock up about 14%. nvidia, though, has been moving sideways for the last two months, but it is the top nasdaq performer today after the information reported that the parent of tiktok, bytedance, plans to spend up to $7 billion outside of china. this is next year in 2025. and speaking of nvidia, chip maker broadcom lowered today, but dubbed the, quote, next nvidia, with management promising sales of a.i. products will gain 65% in the fiscal first quarter of 2025. broadcom still in the trillion dollar market cap club. and lastly, another mover today on semi. can't seem to catch a break. one of the worst performing chip names. no news catalyst per se today, but the slowdown in ev sales disproporti

illiterate, and he's committed to a budget deficit that dwarfs in terms of unfunded tax cuts, that which liz trussround of hope, though. trump likes to be seen as a good guy, and he likes to be seen as someone who brings peace. and he might just be the person who forces israel into a longer term settlement with the palestinians. and if he does that, it would be a good thing. >> one thing that i can be absolutely sure of when it comes to 2025 is that the debates regarding donald trump is going to go absolutely nowhere. i imagine that in among some of your households this christmas, the debate will be fierce about donald trump and whether or not you support him, love him or love him. many people have got in touch as well about their highs. luke littler remember that name. i love this guy. many people saying that this is your high of 2024 as well. take a look. there he is. look at him. i was glued to the dance. i have to say, when he was playing for the first time. i've always wanted to go to ally pally actually and get dressed up. i've never quite managed it, but i've never quite managed it, but iha

liz truss moment? >> there are worries about that. a lot of investors are bringing up. gdp running for as far as the eye can see. that's dangerous. there's a strong demand for u.s. exceptionalism driving inflow into the u.s. we have to watch those auctions, everything is a risk here when you fly this high. nela: that's the other side of the coin in terms of large fiscal deficits. there is demand for the debt but what happens if things cool off more than anticipated? if we see hiring freezes or pauses and hiring like we saw a prop -- pauses in rate cuts? what happens to that demand if there are chinks in the armor in u.s. rate growth? >> usually demand goes up. everyone will fly to the risk-free asset in the u.s. treasury market. what we are always worried about, less so in times of stress as we know that there will be demand for bonds as a safe haven, but the issue is -- our times good? times like now, is there a demand for bonds when everything else is yielding quite a bit as well? and you really have to compete with a lot of other a

i wonder how much the reason they do not cut was fear of a liz truss moment at a time the u.k.weakness than the u.s.? guy: the u.k. certainly does face a lot more weakness than the united states because of the growth trajectory going forward from here. the latest budget from chancellor reeves did catch the bank of england by surprise. it has changed trajectory and made the more cautious. there are inflationary elements from that. i do not think there is any great fear you will see yields exploding higher in the moment we did around the liz truss moment. the real risk is the stagflation risk that you see this weakening in growth from the u.k. delivering right now with inflation hovering there is a risk. the bank will focus on that inflation risk. the data the u.k. faces is if we see growth that inflation gets out of control. the u.k. economy does not have the potential to deliver much more growth without delivering significantly more inflation and that is the concern right now. today more dovish. in some ways today is a nod to that growth risk while maintaining the approach infl

jonathan: liz truss' reputation is when you don't want to bring into an collection.day. the suspect checked into a hostile and the upper west side with a fake new jersey drivers license just days before the shooting. annmarie: this photo can be used for facial recognition technology. they are potentially closer to finding out who this was. the human instinct of the woman who checked on this individual is fascinating. former nypd deputy commissioner had this to say. they were having a flirtatious moment. he pulls down his mask, gives a smile. in that one moment he remains at this moment the most significant clue to date in this entire case. fascinating. dani: one of the most shocking things is the vitriol online. it's a mistake to look on the internet after things like this but the lack of sympathy and discontent from people, i will say it anyway, it is never an excuse for violence. it is percolating in interesting ways. there was a decision last not where in connecticut, new york, missouri, they would stop paying depending on how long you were under anesthesia. peopl

eruption you saw-- if indeed he is serious about these plans, it will cause the eruptions you saw with liz truss'sbill clinton was going to pass all the sweeping legislation, and he sat down rubin and greenspan sat down with him and said, if you do it, the bond markets are gone. >> may have been a mistake. >> the bond markets are going to crush you. the saying, when i was growing up, i thought i wanted to be a baseball player. actually, in my next life, i want to be like the bond market. >> i think if you talk to him now, you would think a lot of democrats listen to too much of the bond market. >> the question now is, is there the same sort of physical straitjacket going into the new term with a $36 trillion debt? the debt then was like 3, $4 trillion. it spikes over the past 20, 25 years like 25 trillion. >> i will say, and i want to ask ann on this too, i will say that musk, when he gets into focus daemon mode he really goes after things and he is worried about the deficit. he just thinks this is going to kill the united states. and i watched him. in my book, i talk about him going into spacex,

but i didn't think they'd unseat liz truss when a lot of the rural seats and they were helped.y run a very strategic campaign that paid results, but they were helped massively by that split on the right between the conservatives and farage's reform uk. >> it's a very, very shallow number of win for labour. 1 in 3 voters who voted voted labour, 1 in 2 or 1 in 5 of voters who voted voted labour, 1 in20r1in50fall voters who voted voted labour, 1 in 2 or 1 in 5 of all adults in 2 or1 in 5 of all adults voted for labour. i mean, that's true. >> it doesn't matter, though, does it? that's our system. the thing that surprised me was the large number of seats for the liberal democrats, and that might mean this could be a, this could be a quite, quite a brittle majority at the next election. >> possibly. oh, no. >> possibly. oh, no. >> absolutely. you've got to look at that labour. it's kind of a look. the commons majority is, is as wide as a sea but it's as deep as a pond. well is that 34% of the vote didn't matter that only 1 in 3 of those who voted backed labour. >> i think it does ma

and as starmer asks ofwat and ofgem for ideas on how to boost growth, was liz truss right after all? >> i'm afraid to say the right hon. gentleman doesn't understand aspiration. he doesn't understand opportunity. >> the proposed cost of giving away the chagos islands to mauritius has been revealed today, and the figure i promise will stun you. that's next. but first, your news headlines with sam francis. >> very good evening to you from the newsroom. the top story tonight, the prime minister, sir keir starmer and the king have paid tribute to the victims of a plane crash in south korea that killed all 179 passengers and crew on board the boeing jet, carrying 181 people, skidded off the runway, crashed and crashed into a fence and caught fire after its landing gear failed to deploy. emergency responders rescued two members of the crew. while investigators now consider factors like a possible bird strike that could have caused engine failure. while the crash is one of south korea's deadliest, with only the tail of the aircraft now remaining recognisable. earlier, travel and aviation ex

liz truss's mini—budget look like a masterclass in prudent economics, given that it has seen growth collapseom 0.5% under rishi sunak in july. the highest in the g7 to 0.1% now, with the obr predicting anaemic growth for years as well as higher inflation and interest rates. plus, the cost of government debt was higher after reevess budget than truss's. funny that . now the guardian funny that. now the guardian report that rachel reeves tax raid has sent business confidence plunging to the lowest level since the first covid lockdown. the institute of directors say that the chancellor's record tax rises are undermining economic growth and cutting off investment plans, with bosses forced to slash pay rises, sack staff and raise prices to cope with the £25 billion national insurance increase. now sir tim martin, the wetherspoons boss and one of my total heroes, said the following this week. he said all democratic governments need to manage the relationship between an economic horse and a public services cards. society needs both this government has disincentivized and discouraged the horse. he's

i mean, i think what i would say to you, amy, is bring back liz truss. is forgiven. >> i don't know, i can't see any of what you're saying because nothing has really happened yet, has it? so the october budget. but wait, it was 0.1% down right, 1% growth. >> yeah. >> yeah. >> so fine. not great, not great. but is this not a bit like that bit in the titanic where they suddenly turn the ship and it takes a while to actually turn and we know. aren't we still titanic waiting like the conservatives, they produced a big old iceberg for us to crash into. >> i don't know how you can look at the growth figures and see that the economy was growing at a very, very modest rate. exactly. we could do better at the beginning of the year. do you like july? >> it was january. it was 0.7 and july it was 0.5 wasn't it. >> yeah. so very, very modest rate of growth but highest in the g7. rate of growth but highest in the 67. it rate of growth but highest in the g7. it is highest in the g7. but i think that we can do better. and also we weren't starting at a very good point.

one of them wasn't liz truss, so it really does count.erver pm condemned for allowing a new wave of slum housing. the sunday express has. boris warns of keir brexit threats. the telegraph goes with chinese influencer at heart of whitehall. the mail on sunday has starmer surrender squad to undo brexit and the daily star sunday a room with a who. well that's i think that was well delivered, even if i do say so myself. but ignoring all that into the actual important stuff. what are we starting with, cressida.7 >> we're starting with the daily mail. what have they got, steve? they say starmer's surrender squad to undo brexit. you're very close. >> i was put here. did you see that happen? i did, i came out here and put me right here. so it's. >> it feels like he's not got the email about the restraining order. >> and i was looking at my phone. it looked very unprofessional. and i like it was me who suggested that we should get closer. closer? i know that. >> yeah. >> yeah. >> interesting. well, starmer's surrender squad to undo brexit. so appa

that i'm sure that that liz truss would have certainly beat that record. you go through the various things, i do think it was a mistake to take the freebies from lord alli . i the freebies from lord alli. i think he should have actually had an explanation . ready for had an explanation. ready for the resignation of lou hague at pmqs yesterday, and i also think that the that today's speech, which wasn't a reset, but because the comms were so dire around it, that was the narrative that it became . so narrative that it became. so i don't know quite what's gone wrong. it feels like it's something to do with the communications . i know most of communications. i know most of the comms people, the senior comms people in downing street, they're really good. so either they've lost the plot suddenly or their political masters aren't listening to them. >> but you're very experienced . >> but you're very experienced. you've seen this over decades. i've seen it for a slightly shorter time. but whenever a government starts saying it's the fault of our communications dep

i mean, i think what i would say to you, amy, is bring back liz truss. is forgiven. >> i don't know, i can't see any of what you're saying because nothing has really happened yet, has it? so the october budget. but wait, it was 0.1% down right, 1% growth. >> yeah. >> yeah. >> so fine. not great, not great. but is this not a bit like that bit in the titanic where they suddenly turn the ship and it takes a while to actually turn and we know. aren't we still titanic waiting like the conservatives, they produced a big old iceberg for us to crash into. >> i don't know how you can look at the growth figures and see that the economy was growing at a very, very modest rate. exactly. we could do better at the beginning of the year. do you like july? >> it was january. it was 0.7 and july it was 0.5 wasn't it. >> yeah. so very, very modest rate of growth but highest in the g7. rate of growth but highest in the 67. it rate of growth but highest in the g7. it is highest in the g7. but i think that we can do better. and also we weren't starting at a very good point.

and we all saw what happened a couple of years ago when liz truss tried to remove taxes without removing know, to reduce taxes, without reducing spending. those are some of the things that we're going to be working on over the next few years. but on immigration, i'm not going to run away from the subject of immigration, i never have. labour are pretending that they're tough on immigration, when actually they stopped us from doing quite a lot of things. it wasn't just the fact that we had a majority in the commons. we did not have a majority in the lords. so a lot of legislation, the rwanda legislation, even when we were putting it through, it was getting blocked elsewhere. so i'm not going to have keir starmer, who wanted foreign criminals to stay in this country, actively stop them from being deported, pretend that he is mr immigration. yes, we got things wrong. we tried to deliver a points based system when we left the eu. we tried to deliver a points based system. it clearly did not work. so let's fix that. but we were not the ones making all of those applications. but we were not kee

did another budget, he'd probably introduce a new budget, the december budget, because it's like liz trussif the deep state were more against this lot, they'd be gone already, right? because she had a catastrophic budget. labour did. but they get to do a reset. but 3030 00:14:36,968 --> 00:14

the those two years in between the economy, you know, we've had liz truss, we had the that was two yearsttedly we had all of that. that has changed the thing. so pledges that were made three years ago of course, can't necessarily be treated as pledges now. however, i actually do agree with you that it doesn't look particularly good to do this, and you could quite actually, another way of thinking about this is that most of those waspi women who are still in work will be paying a tax bill of far in excess of that, and they wouldn't have been because they would have been because they would have been retired early. you could say we will give them a tax rebate of 500,000. and you would, you would. >> i think you're being very clever. >> kwasi and over kwasi kwarteng when you were in government, we said, no, you obviously you put it into the long grass. >> no, no. so you could have responded to the hsi report, but you didn't. >> as a constituency mp, i was lobbied on this regularly. sure. and i held the line. i said, we can't afford to pay. we had the same line as the prime minister used that