i think in aeneral heard from rachel reeves? i think in generalterms _ heard from rachel reeves? in general terms it _ heard from rachel reeves? i think in general terms it is _ heard from rachel reeves? i think in general terms it is hard _ heard from rachel reeves? i think in general terms it is hard to _ heard from rachel reeves? i think in general terms it is hard to argue - general terms it is hard to argue with the government seeking to manage the books. i don't think i would particularly critique some of theissues would particularly critique some of the issues that have been surfaced. i think it is reasonably cogent argument. i think the challenge in the underlying numbers as you have heard from some other economists this afternoon on the programme is that some of the money found for this is by cancelling capital projects. i would agree that there are also projects in the north which like the stonehenge tunnel are not the ones we would be most concerned about being re—prioritised. the issueis about being re—prioritised. the issue is using that to fund revenue budget pressu

a war over the green belt as rachel reeves l we know how bad it is.ves vows to take on the nimbys. the daily mail, an atrocity showing why more must be spent on defence. this is about the series of devastating missile strikes across ukraine, in particular on hitting a children's hospital in kyiv. the front page of the times, pressure on starmer to increase defence spending. a photograph of the children's hospital in the capital of ukraine hit by a russian missile today, more than 150 people injured. the death toll is rising. the guardian, labour toll is rising. the guardian, labour to fix the front door of the nhs by diverting billions to local surgeries. the daily telegraph, jk rowling attacking the pm over the new women's minister. that's it from us tonight. thank you dehenna and luciana. i don't know if we'll see you, dehenna, before you go off for your unite —— for your new life in brazil. if not, good luck. your unite -- for your new life in brazil. if not, good luck.- brazil. if not, good luck. thank ou. brazil. if not, good luck. thank you- so.

first of all, i wish rachel reeves well. on a _ she? first of all, i wish rachel reeves well.re just talking about with stephanie. i welcome what she wants to do on planning reform. but what is absolute nonsense is this business of the worst economic inheritance since the second world war. you only need to look at the last time a government changed hands between parties in 2010, compared to then, inflation is nearly half what it was. we had markets collapsing, now we have the fastest growth in the g7. we have unemployment nearly half what it was then. it is a very transformed picture and i think the reason that she is doing this is that she wants to lay the ground for tax rises. perfectly legitimate for a new government to come in and say they want to spend more and tax more. every labour government in history has done that but she should have been honest about that before the election, rather than trying to spring it on us after the election. you are trying to suggest what she might do and we don't have a crystal ball. to pick you up on that, government debt is a high since 1

we were talking about the financial statement from rachel reeves today.o understand the disparity in the figures. is there discretionary spending for a government that would not be included in an obr assessment ahead of an election? i included in an obr assessment ahead of an election?— of an election? i think this is one of an election? i think this is one ofthe of an election? i think this is one of the big questions. _ of an election? i think this is one of the big questions. that - of an election? i think this is one of the big questions. that was i of the big questions. that was rachel reeves' take charge that the previous conservative government had not been honest and upfront with the obr and that was something the shadow chancellorjeremy hunt shadow chancellor jeremy hunt rejected shadow chancellorjeremy hunt rejected but the obr has now launched a review of the information that it was provided in the spring ahead of the budget, and it will report in october, but it certainly does seem there were some fairly chunky line items we did not previously

i "yes", rachel reeves insisted, which left me wanting to ask a simple question. up taxes for some in the autumn? i don't want to increase taxes on working people and our commitment not to increase national insurance, income tax or vat, we stand by those commitments. there will be more difficult decisions around spending, around welfare and around tax at the budget and the spending review later this year. i think it's important to be honest with people. people have been misled for too long. in other words, yes, some taxes are going up soon. the new resident here is cracking on with big, sometimes controversial plans. labour and the conservatives are questioning each other�*s openness and honesty, and the political argument now revolves around who you choose to believe. chris mason, bbc news, at westminster. 0ur political correspondent, ben wrightjoins us to unpick this statement further. was the scale of this claimed black hole a surprise? it was, and this audit of treasury government spending did reveal some big surprises, and that verdict has been confirmed by p

today, rachel reeves will outline how she plans to, in her words, fix the foundations.ve what she's budgeted for. the calculation, the disruption from prolonged industrial action, is far more damaging to the economy than digging deep now for above—inflation pay rises.

and have you spoken to rachel reeves? who — hope. and have you spoken to rachel reeves?eaking to? ., ., . ., ., reeves? who have you been speaking to? ., ., ., to? i have reached out to rachel reeves and _ to? i have reached out to rachel reeves and to _ to? i have reached out to rachel reeves and to liz _ to? i have reached out to rachel reeves and to liz kendall, - to? i have reached out to rachel reeves and to liz kendall, and i to? i have reached out to rachel| reeves and to liz kendall, and to the chief whip. i have not had a response, they are all busy at the moment, and we know other the veneers up in the air. but again, the amendment is about starting that debate. find the amendment is about starting that debate. . , ., the amendment is about starting that debate. �* , ., . the amendment is about starting that debate. . . ., the amendment is about starting that debate. �* , ., ., ., ., debate. and you are going to need cross-party _ debate. and you are going to need cross-party support _ debate. and you are going to need cross-party support for _ debate. and you a

today, rachel reeves will outline how she plans, in her words, fix the foundations. bbc understands she will accept pay recommendations which are billions of pounds above what she has budgeted for. the calculation, the disruption from prolonged industrial action is far more damaging to the economy and digging deeper now above inflation pay rises. but it comes at an immediate cost, transport projects will be paused, counsel already prioritised. borisjohnson's new hospital programme may also be reviewed. to get the public finances back on track in the longer term, finances back on track in the longerterm, rachel finances back on track in the longer term, rachel reeves is affected to commit to know more than one made of his 11 per year. she says to surprise budget, which can unsettle the markets and family finances. she will establish a new office for value for money to cut down on waste and ensure all government spending delivers value. and she will underline the new legal requirement for the new legal requirement for the independent office of budget responsibility to

today, rachel reeves will outline how she plans to, in her words, fix the foundations.

much of the _ heard rachel reeves plan. we did. much of the plant _ heard rachel reeves plan.l reeves plan. we did. much of the plant rests on - heard rachel reeves plan. we did. much of the plant rests on what. much of the plant rests on what faisal was talking about their house—building and infrastructure building and changing the planning laws around how you get those things done to try to speed development, construction across the uk. 0ne done to try to speed development, construction across the uk. one of the challenging things i think labour will run into, which we haven't heard much detail about is they've reimpose housing targets, mandatory local councils with that that was in place before. rishi sunak to describe it but before he scrapped it local councils had mandatory targets and the problem was they often didn't hit them. there is a question as to how they will force or cajole or encourage to hit those housing targets when in the past there haven't been willing to do so for the particularly because labour now has control whether at a council level or a parliamentar

rachel reeves has left so far? rachel reeves has left so far? rachel reeves has left looking happy.e we saw angela rayner giving a big thumbs up, which indicating she's quite looking forward to being in government . forward to being in government. so basically, i think the entire shadow cabinet as we know it is either in number 10 now or has started to leave. so we're about to see the big jobs being handed out over the next half an hour. so do stay tuned to us in number 10, of course, more widely, widely to gb news chris o'byrne. >> of course we'll come back to you as more and more of those appointments are confirmed. just in case you're joining us now to quickly recap, angela rayner confirmed as the deputy prime minister and the levelling up and housing minister rachel reevesis and housing minister rachel reeves is confirmed as the chancellor of the exchequer. the first female chancellor of the exchequer and the third appointments made so far publicly . officially. pat publicly. officially. pat mcfadden, chancellor of the duchy of lancaster, and many more labour mps and shadow mini

we will dig a little deeper into what we've heard from rachel reeves today.g to take a short rate. the other side of the break, we will talk olympics and check-in to paris, quite a good day today for the great reddish team, two golds. were finally moving up the table, great britain. we are ahead of cause extend, which was my sort of benchmark. anyway, we will talk about that after the break. this.ll be right back after stay with us. announcer: funding for presentation of this program is provided by... financial services firm, raymond james. announcer: funding was also provided by, the freeman foundation. and by judy and peter blum kovler foundation, pursuing solutions for america's neglected needs. ♪ ♪ ♪ ♪ announcer: "usa today" calls it, "arguably thbest bargain in streaming." that's because the free pbs app lets you watch the best of pbs anytime, anywhere. ♪ ♪ ♪ ♪ announcer: funding for presentation of this program is provided by... woman: a successful business owner sells his company and restores his father's historic jazz club with his son. a raymond jame

chris, what is the political message behind rachel reeves's statement to mps?ig their crushing election defeat, and then to make her first big set of choices as chancellor, that big public pay settlement in the public sector, the hope that will mean no future strikes, but there might be people watching tonight in the private sector thinking, blimey, that's quite generous. the government because it's in line with the private sector. but then we have the private sector. but then we have the winter fuel payment. yes, there are some very rich payments do little to pensioners who perhaps don't need that money there will be others who might miss out for whom this will be a real concerns that so it will be difficult for the government, and they know it is, why are they doing it now? they are trying to pin the blame on their predecessors, a government never more popular than at the start of their time in government, and that's why they're doing this difficult step now. what are the choices she is making when it comes to public spending? there is something of a paradox,

_ and a big smile there from rachel reeves. boast about is the reality of being in a — would boast about is the reality of being in a position to win. having to get— being in a position to win. having to get british voters to once again trust _ to get british voters to once again trust the — to get british voters to once again trust the labour party with their money. — trust the labour party with their money, but for some in the party, rachet— money, but for some in the party, rachel reeves and kier starmer's view of— rachel reeves and kier starmer's view of the world is a risk. it may not do _ view of the world is a risk. it may not do enough to get public services back up— not do enough to get public services back up and — not do enough to get public services back up and running because her grip on the _ back up and running because her grip on the purse — back up and running because her grip on the purse strings, which she would _ on the purse strings, which she would make absolutely clear and has done for _ would make absolu

the chancellor rachel reeves says the uk government will "make sure the sums add up" before agreeingo fund a recommended 5.5% pay increase to teachers and nhs staff. the above inflation rise has been recommended by independent pay review bodies. in her first interview since becoming chancellor, rachel reeves said there were also �*costs�* to not settling the pay claim — adding that the decision will be made quickly. here's our political correspondent tony bonsignore. it's a decision that will affect millions of teachers and nhs workers: whether to accept the independent recommendation of pay review bodies and give them a pay rise of 5.5%, or offer a more modest increase and risk disappointing millions of labour voters, as well as potentially more industrial action. today, in herfirst big interview since the election, rachel reeves dropped a big hint that above—inflation rises for public sector workers are on the way. we also know that there is a cost to not settling, a cost of further industrial action, a cost in terms of the challenge that we face in recruiting and retaining doctors

thank you very much. _ as we heard earlier, britain's new chancellor, rachel reeves, is expected to accusevative government of covering up the true state of the public finances as she sets out tough decisions on spending cuts. on taking office, ms reeves ordered officials to conduct a fresh assessment of public funding needs, which she will present to parliament ahead of her first formal budget statement later this year. live to westminster and our political correspondent helen catt. it is clearly not going to be an easy speech. clearly she is not having an opportunity to make any easy decisions, they will all be difficult by the side of things. i think we always knew that was likely to be the case. economists were saying that you have won the election was going to face difficult choices and at the time they accuse labour and the conservatives have not facing up to that situation. rachel reeves will argue later, all we —— we are expecting her to, is that when they got the chance to look at the full books they got a few nasty surprises. she is expected to identify this £20 billion gap betwe

up . wants to put your taxes up. >> rachel reeves wants to big pay >> rachel reeves wants to big payic sector. so that's where she's going. so let's talk about the journey. first of all, her allegation is that there's been a conspiracy between a conservative chancellor of the exchequer and the civil service. now, i've been a very senior minister, including the cabinet. i can tell you the last thing the civil service would ever do is try to help a conservative minister. it is bonkers. rachel reevesis minister. it is bonkers. rachel reeves is lying. she knew about this. she claims there's £22 billion. well, 10 billion of that nato probably over half actually is just the public sector pay rises that she's agreed to. so she's created over half of it. she is lying. so because she wants to take you to that destination, she wants an excuse. >> you deny that your lot were cooking the books in government? i mean, it's a massive it's a staggering claim. >> i wish i wish we could i, you know, frankly, you know, the idea that the civil service would conspire with the conservative party to mislea

oh yes, indeed we have before the election, the institute for fiscal studies said rachel reeves wouldprecisely £20 billion if she wanted to avoid spending cuts . wanted to avoid spending cuts. remarkably, earlier this year, reeves was honest when she spoke to the financial times. when asked if she could claim the country's finances were worse than expected, her exact response was we've got the office for budget responsibility now. you don't need to win an election to find out about the pubuc election to find out about the public finances. the institute for fiscal studies said exactly this before the election, too. and so the shameless fiscal fairytale begins. the labour party is now in government, which means it chooses the balance between taxation and spending, and it chooses where spending, and it chooses where spending falls . so it's decided spending falls. so it's decided to take £i.5 spending falls. so it's decided to take £1.5 billion off pensioners to give it to its charms in the public sector, from tory voters to labour voters. what a surprise. it's taken the decision to spen

rachel reeves. and i'm sorry. rachel reeves. and i'm sorry. rachel reeves.istration are out to get people always . people always. >> it's on the edge of poverty as well. >> they're literally trying to fix everything. sorry. >> point on gbnews.com/yoursay she says if the weather drops below a certain level, people on pensioners credit get £15 a day. the pensioners who worked will get nothing. pensioners only have to be £100 over the limit, which there are a lot of them, and they will get less than a pensioner on pension credit. why work? you're just better off staying at home and also seasonally and geographically. >> it's colder in other parts of the country than it is in others. so why can't we have something with parity? why can't we have something in place that actually helps those that need it? instead of a blanket care for all? >> so just a response to that is that getting pension credit isn't isn't dependent on whether you worked in your working life or whether you didn't is based on your income. when you are a pensioner. so whether you've got an incom

rachel reeves to say on monday? rachel reeves to say on monday?ng a review of finances with the treasury and we are expecting her to talk about the dire financial inheritance that they receive from the conservatives. that is the theme that they have talked about many times in the first few weeks of government. we are expecting her to say that when she's opened up the books and looked at them, it's worse than they expected. we don't have a finalised figure but there are figures out there of about £20 billion of a black hole that they need to fix. while labour say that this is kind of knew to them, people watching the election very closely know that it is not a total surprise because it was something that the institute for fiscal studies was warning about and saying, actually, the conservatives and labour had a conspiracy of silence. not really talking to the voters about where they would find 10 billion to £20 billion worth of money to spend on public services. it is not a complete surprise but in labour�*s defence they would say that things have c

but rachel reeves is offering junior doctors in england a 22% pay rise over two years — plus an abovenflation offer for teachers. the former bbc news presenter huw edwards is charged with three counts of making indecent images of children. at the olympics, a fight to the finish by team gb's tom pidcock who retains his mountain bike title with ruthless skill. and more saddle success, as the eventing team retain their olympic title to win britain's first gold of the games. on bbc london: £2 million of mayoral money for projects to combat and coming up in sport on bbc news, paris 2024 organisers say they're confident the olympic triathlon events will go ahead as scheduled from tomorrow, despite concerns over pollution in the river seine. good evening from southport, where there is stunned shock and grief this evening after an attack in which eight people were stabbed, including children. the victims have been taken to three hospitals, including alder hey children's hospital in liverpool, which has declared a major incident, saying that parents should only bring their children if it's urg

rachel reeves, the national mission is boosting growth.ing clear that the way this government will seek to avoid tax hikes is to get the economy growing. boosting growth is a good slogan. we expect more details later today. another part of this, another central pillar of labor's plan is they want to unlock the planning system. the labour party under rachel reeves as chancellor planning to reimpose house targets on local councils. development has been snarled out. labor making clear that it wants to break through the logjam. and attracting investment. seeking to bring private capital on board and to direct the funding toward some of labor's policy agenda. tom: there has been a policy blitz from starmer and his team since friday. >> i was with you on friday. we did not get much sleep. the king's first words to cure starmer were, you must be exhausted. keir starmer is on a four nation tour of the u.k. to me policymakers. the new foreign secretary went on a whistle stop tour of germany taking a quick break to watch england's penalty shootout.

let’s caused the black hole that rachel reeves is talking about. n at the start of the year for revenue, £4 billion for capital. so we had provision for unexpected costs. and we had good plans in place that would have meant... as chancellor i delivered two budgets, two autumn statements, all of them we met our fiscal rules. two autumn statements, all of them we met ourfiscal rules. i two autumn statements, all of them we met our fiscal rules. i would have been able to continue meeting our fiscal rules, taking the books add up. but what will make people angry is that labour knew they were going to cancel rwanda, they knew they would want to ask for anything from the unions in return for pay rises because the unions are frankly in the election, they election, they knew they wanted to soft pedal and welfare reform, which is why it was not in the king's speech, they knew all of those things but they did not plan for it. that means they are going to have to do tax rises, and it is very cynical indeed to try and blame those tax rises on a fictional black

rachel reeves insists the main rates of income tax, vat and national insurance won't change.day in october. chris mason, bbc news at westminster. to the olympics now — where day three of the paris games has drawn to a close. highlights included the japanese skateboarder yuto horigome retaining his men's street title. and in mountain biking, tom pidcock, of great britain, overcame an early puncture to win the men's final. my colleague maryam moshiri, who's in paris, sent us this round—up of events. let's look at day four of the olympics. but day three was an immense day of support for so many teams. team gb had a brilliant day, starting off with that first team gb gold medal from the venting team, retaining the gold medal they want in tokyo. then we saw tom daley and his partner, noah williams, come in with the silver on the ten metre synchro diving men's. we also saw success for tom peacock and mountain biking, he got the gold medal. we also saw adam burgess winning eight canoeing silverfor team gb too. a brilliant day for team gb — but let's look ahead to day four. 14 metals

will be further analysing the statement made outside the comments by rachel reeves. just want to bring you in additional line of breaking news regarding those stabbings in southport in the northwest of england today. merseyside police say a 17—year—old boy from the banks area has been arrested in connection with those stabbings in southport. the incident they believe is not currently being treated as terror —related. a 17—year—old boy from banks being arrested in connection with those stabbings in southport green southport according to merseyside police. several people, at least eight people were injured. we heard earlier a man had been detained, it now turns out to be a 17—year—old boy from the area. we were hearing it is being treated as a major incident because of the number of people injured. witnesses said that children were amongst the numbers hurt and also some had been taking to the alder hey children's hospital. we will have more developments on the developing story throughout the evening here on bbc news. let's return to the statement on spending cuts that

rachel reeves becomes the first female chancellor.rayer in and david lammy have been appointed. richie sunak said he's heard the anger of voters. >> i am sorry. i have given this job my all but you have sent a clear snap that the government of the united kingdom must change and yours is the only judgment that matters. >> ♪ sweet caroline -- ♪ >> and celebraons for the liberal democrats. they've won 71 seats and become the third largest party ithe commons. ♪ >> hello to you, welcome to do you think street. i'm ben thompson and it has been a day of come, and goings in the street behind me and we'll take you through all all you need too know. representatives from all the main parties. i want to run you through the main results. labour won 412 seats. it will give them a majority of 170. keir starmer has been appointed prime minister by king charles. he spent the afternoon appointing his first cabinet. sunak's party fell to just 121 seats. richie sunak left downing street saying he will resign as conservative leader. democrats gained 63 se

so rachel reeves, she's the first female chancellor ever.id herfirst big speech in the treasury. was there like, did it feel i've noticed a lot of sort of captains of industry and like industry groups getting selfies with her at this speech sounds like this was quite a big, big production. oh, well, we never get any journalists trying to do such shenanigans as that. but yeah, i think, um, i mean, i use the phrase and quite rightly, um, nikki campbell picked me up on it, like summoned to the treasury. i mean, they weren't very willingly, these business leaders, and it was top tier stuff in terms of banking chief executives, financiers and others. um, and she used the opportunity, the first sort of full working day at the treasury. they'd worked through the weekend to try and make essentially an offer to these business leaders. um, but yeah, they were, you know, we weren't in the bit where they were. we were shut out of the networking drinks, but they what was really interesting was they turned up with half the cabinet too, and they were reall

rachel reeves now being able to dock ? reeves now being able to dock? i think part of the problem is that the last government did, in the end, duck a lot of these issues. i mean, the £20 billion cut in national insurance that we saw over the last couple of budgets was not manageable or affordable unless the then chancellor had said how he was going to pay for it, which he didn't effectively do . which he didn't effectively do. rachel reeves is now going to have to well, she's not going to do this today, but in the budget in the autumn, she's going to have to decide is she going to accept higher borrowing than are currently forecast, or is she going to increase taxes? i can't see her, a reducing spending below its current level. so that's going to be a really tough choice, particularly not given not only did the labour manifesto said no higher taxes on working people, they ruled out a whole swathe of taxes on corporation tax, income tax, national insurance contributions , national insurance contributions, vat, which doesn't leave an awful lot of choices

let's see what rachel reeves has to say on this. let's see what rachel reeves has to say on this .fix the housing crisis unless you tackle the migration crisis, because, remember, you'd have to be building a new home in this country every five minutes, day and night. 365 days a year, merely to keep up with the number of people who are arriving legally, arriving legally arriving, that's not even the illegal migrants. and join the campaign. we learned from angela rayner that she wants to build social houses purely for refugees and illegal migrants, rather than for british people. and our children and grandchildren, which seems a very strange priority to me. what we as conservatives for stand is home ownership is helping the next generation onto the housing ladder. but we don't want to ruin our beautiful countryside. i believe you can do that by focusing those homes in the big urban areas of this country. let's wait and see if that's the approach of the tension, though, isn't it? >> if people don't like new homes near them, if they're not appropriate homes, do they? i mean, is it wron

he said that rachel reeves will fall. absolutely no one by blaming us for tax rises.illion black hole hasn't magically appeared. this isn't economic. this is political. he also added working families will never forgive her for this. what's your take? >> i think working families will never forgive the conservatives for what they did to the economy, and we've got into office. we knew that we were going to inherit an incredibly difficult set of fiscal circumstances. but then when the chancellor took office, she asked the treasury to do an audh asked the treasury to do an audit of exactly what our inheritance was. and it's now shown there is a £22 billion black hole this year in year. you know, this is not money further down the line that needs to be needs to be found. this is money that was being spent. this year by the government. you know, it's absolutely outrageous that the government let this happen without telling anyone. you know, they covered it up by not being straight with the obr, not being straight with the obr, not being straight with the obr, not being strai

it does seem like rachel reeves would be looking to implement that in order to prevent strikes.hat is the backdrop to this idea that she could potentially delay large infrastructure projects, projects that she thinks aren't funded properly. and also those projects that perhaps where costs have gone up since they were first announced. things like roads and hospitals, we could look at those projects being delayed further. what is the conservative response been to this? conservatives think that all of the doom and gloom from the labour party and the idea that it is worse than they thought is a way to lay the ground for future tax increases. that is something that labour ruled out on personal taxes for working people. but the conservatives have pointed out that labour promised 50 times during the campaign, they sent a very long e—mail of all of the words that labour politicians have said outlining where they wouldn't increase taxes, they think this is a ploy to roll the pitch for tax increases. labour did say that they wouldn't increase personal taxes, of course that leaves out othe

rachel reeves earlier.cannot do it. tell us more. >> absolutely. yeah. this was the return of high drama in the commons. i think we've missed this for a little bit, haven't we, martin? it's been it's been very friendly and cordial, particularly in pmqs. not so today with this statement. rachel reeves really on the attack directly targeting the legacy of the now shadow chancellor jeremy legacy of the now shadow chancellorjeremy hunt. i think you know what? why don't we just take a look at it? this is what he this is what she had to say earlier this afternoon. >> i'm not talking about the state of public services in the future, like the crisis in our prisons, which they have left for us to fix. i am talking about the money that they were already spending this year and had no ability to pay for which they hid from the country they had exhausted the reserve and they knew that, but nobody else did. yet they ducked the difficult decisions. they put party before country and they continued , and they continued to c

well, look, rachel reeves speaking today.sten to her. >> my arrival at the treasury three weeks ago, it became clear that there were things that i did not know. things that the party opposite covered up, covered up from the opposition, covered up from the opposition, covered up from this house. covered up from the country . the covered up from the country. the government published its plans for day to day spending in the spnng for day to day spending in the spring budget in march. but when i arrived at the treasury on the very first day, i was alerted by officials that this was not how much the previous government expected to spend this year. the total pressures on these budgets across a range of areas was an additional £35 billion. >> i don't like to be all mystic meg and think that i've got an and some kind of weird ability to see into the future, but i mean, loads of people, including my good self, predicted that this was exactly what was going to happen. jeremy hunt, he's not having any of this, is he.7 what's having any

chancellor of the exchequer rachel reeves.ring you much more of that exclusive conversation later in the program. stand in the u.k., earlier this week, we had the king's speech setting out the new u.k. government priorities for this parliamentary session. the labour party's green ambitions are going to be up to the crucial in shaping the country's path to net zero. here to tell us more is our head of energy regional transition bloomberg nef. we had rishi sunak in the last conservative government and kind of criticism that he had been stepping away from the net zero target. what are the big changes we are likely to see from this new government? >> yes, well, good morning, lizzy. the biggest headline ambition the labor government will be targeting is this clean power by 2030 goal. within that target, there are a few capacities they are setting for the wind and solar sectors as well as extending the lifetime of nuclear assets. the most ambitious stretch goal within that is for the offshore wind sector. they want to quadruple offs

when rachel reeves was asked about that a _ when rachel reeves was asked about that a couple of weeksise these taxes. keir starmer told the telegraph and bbc, asked if he would ruled out capital gains tax, absolutely, it was never policy. let's rule it out, in case anybody pretends it was. then jonathan ashworth told in case anybody pretends it was. thenjonathan ashworth told times radio and sky news, we are not changing council to spending, were not doing council tax rebranding. knickerbocker rachel reeves is the shadow chancellor and knickerbocker rachel reeves is the shadow chancello— knickerbocker rachel reeves is the shadow chancellor and when she was interviewed a — shadow chancellor and when she was interviewed a couple _ shadow chancellor and when she was interviewed a couple of— shadow chancellor and when she was interviewed a couple of weeks - shadow chancellor and when she was interviewed a couple of weeks ago, i interviewed a couple of weeks ago, she said. _ interviewed a couple of weeks ago, she said, she didn't rule it out and said. _ she said, she didn't rule it out and

let's return them to reaction to the statement by the chancellor rachel reeves.ays the previous government had unfunded and undisclosed £22 billion of extra spending for this year alone and so she has taken a south to certain projects. one of them is a transport projects. one of them is a transport project that is going to be scrapped, work on the a303, better known as the stonehenge tunnel. let's speak to john known as the stonehenge tunnel. let's speak tojohn adams who is the chairman of the stonehenge alliance, also part of safe stonehenge world heritage site from top thank you very much forjoining us. the people who haven't followed all the twist and turns of this project, briefly explain what this tunnel was designed to do. the explain what this tunnel was designed to do.— explain what this tunnel was designed to do. the tunnel was desi . ned designed to do. the tunnel was designed to _ designed to do. the tunnel was designed to prevent _ designed to do. the tunnel was designed to prevent congestion within the world heritage site. it is the first section of

simon _ rachel reeves was saying.ll, let's get you sorted out. thank you so much! so nice to be able to hear our guests. we have already got an accusation here that rachel reeves has broken the trust of the public from jeremy hunt by claiming that she didn't know what the state of the finances were when it was plain for her to see? i were when it was plain for her to see? ~ �* . were when it was plain for her to see? ,, �*, ., ., ., ~' see? i think it's important to work out what it's _ see? i think it's important to work out what it's impossible _ see? i think it's important to work out what it's impossible to - see? i think it's important to work out what it's impossible to know l out what it's impossible to know when you're not in government and what isn't. what is possible to know is what the obr, the office for budget responsibility projects the amount of tax revenue to be. it is possible to work out the total amount the government says it wants to spend. but it is not possible to work out individual programmes,

he said that rachel reeves will fall. absolutely no one by blaming us for tax rises.illion black hole hasn't magically appeared. this isn't economic. this is political. he also added working families will never forgive her for this. what's your take? >> i think working families will never forgive the conservatives for what they did to the economy, and we've got into office. we knew that we were going to inherit an incredibly difficult set of fiscal circumstances. but then when the chancellor took office, she asked the treasury to do an audh asked the treasury to do an audit of exactly what our inheritance was. and it's now shown there is a £22 billion black hole this year in year. you know, this is not money further down the line that needs to be needs to be found. this is money that was being spent. this year by the government. you know, it's absolutely outrageous that the government let this happen without telling anyone. you know, they covered it up by not being straight with the obr, not being straight with the obr, not being straight with the obr, not being strai

here is rachel reeves, the chancellor.e _ governments had been unwilling to take the difficult decisions to deliver— take the difficult decisions to deliver growth or have waited too [on- deliver growth or have waited too long to _ deliver growth or have waited too long to act, i will not hesitate. growth — long to act, i will not hesitate. growth was the labour party's mission — growth was the labour party's mission in _ growth was the labour party's mission in opposition. it is now our national— mission in opposition. it is now our national mission. there is no time to waste — to waste. this morning i want to to waste. — this morning i want to outline the first steps— this morning i want to outline the first steps of this new labour government has taken to fix the foundations of our economy. so we — foundations of our economy. so we can— foundations of our economy. so we can rebuild britain and make every— so we can rebuild britain and make every part— so we can rebuild britain and make every part of our country better o

the uk chancellor rachel reeves will announce billions of pounds of spending cuts blaming a black hole in the uk's accounts left by the conservatives. i am live in paris and it is day three of the olympic games. the competing continues. i will bring you all the latest sports and news from today's events including tom daley has got silver medal in the synchronised diving with his partner. hello, i'm annita mcveigh, welcome to bbc news now, three hours of fast—moving news, interviews and reaction. concerns are growing about an all—out war in the middle east after 12 children were killed at the weekend when a rocket fell on a football field in the israeli—occupied golan heights. the area was part of syria until the 1967 war when most of the area was captured and later annexed by israel. the children were playing in the town of majdal shams, one of four towns in the golan heights where about 25,000 members of the arabic—speaking druze religious and ethnic group live. israel blames hezbollah for the deaths. the militant group which is backed by iran, controls one of the most powerful armed

oh yes, indeed we have before the election, the institute for fiscal studies said rachel reeves would precisely £20 billion if she wanted to avoid spending cuts . wanted to avoid spending cuts. remarkably, earlier this year, reeves was honest when she spoke to the financial times. when asked if she could claim the country's finances were worse than expected, her exact response was we've got the office for budget responsibility now. you don't need to win an election to find out about the pubuc election to find out about the public finances. the institute for fiscal studies said exactly this before the election, too. and so the shameless fiscal fairytale begins. the labour party is now in government, which means it chooses the balance between taxation and spending, and it chooses where spending, and it chooses where spending falls . so it's decided spending falls. so it's decided to take £i.5 spending falls. so it's decided to take £1.5 billion off pensioners to give it to its charms in the public sector, from tory voters to labour voters. what a surprise. it's taken the decision to spe

also the attack on rachel reeves.gland economist, and then she worked in a private sector, and i believe she was an economist at the british embassy in washington. so you can you can agree or disagree with her on policy, but she has a serious and credible cv. and then to go to some of the specifics of it, wes streeting who is now the health secretary, said before the election quite clearly that the election quite clearly that the doctors union, the bma, would not get the pay rise of 35% that they'd been asking for, and we had another test. finally this week of labour's fiscal rectitude and their desire to put the public finances first, lots of unions would have said aboush lots of unions would have said abolish the two child benefit cap. rachel reeves keir starmer stuck to their pledges . they stuck to their pledges. they they kind of turned their face away from popularity and they put fiscal discipline before that. >> it was interesting that you mentioned wes streeting sort of in terms of experience, because he had a

so rachel reeves as _ needed across the uk. so rachel reeves as being _ needed across the uk.utlook. of course we would expect that, we need her as team leader in the treasury to be very positive, saying that private investment is the lifeblood of a successful economy. she said we need to unlock private sector investment. we know that his/her girl and her investment. we know that his/her girland heraim, but his/her girl and her aim, but it his/her girland heraim, but it happen? will the big investors outside of the uk and those within choose to invest? i think there is a really strong opportunity for that to happen, if the labour government can deliver on three major priorities. from where we see it, we think the first thing that needs to happen is to make sure there is a really close partnership with industry. that will really help to stimulate the growth, make sure the investment takes place right across the country, and help to lead the transition to net zero, and we think our industry is very well positioned to be able to hope —— help with all of those objectives. the seco

the chancellor, rachel reeves, has said the government will "make sure the sums add up" if public sectorkers are given above inflation pay rises. the remark came after independent pay review bodies recommended an increase of 5.5% for teachers and some nhs workers. the rate of inflation is currently 2%. ms reeves told sunday with laura kuenssberg, she would announce her decision on public pay by the end of this month. our political correspondent, leila nathoo, has the story. millions of public sector workers are waiting to learn what their pay rises will be this year. independent pay review bodies make recommendations to the government of what percentage should be awarded. it's understood that ministers have been advised to raise the salaries of teachers and nhs workers by 5.5%, a rate that is above current inflation. it's now up to the new chancellor, rachel reeves, to decide if this is affordable when money is tight. and this morning, a hint of her thinking. i really value public service workers in our schools, in our hospitals, in our police as well. at the moment, we are looking at th

chancellor, rachel reeves, at 3:30 p.m. london time. will unveil a budget date and also be telling us about what she thinks is the real state of the u.k. fiscal situation. do we know about all this -- did we know about all this before the election? that's the debate. lots of criticism from think tanks. we can debate all of this with former shadow minister jonathan ashworth coming up. he is the director of labor together, a left-wing think tank. plenty to discuss with him on the program. that is coming up next. this is bloomberg. ♪ with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. lizzy: good morning. this is bloomberg daybreak: europe. i'm lizzy . asian jump at the start of a of big tech also for rate decisions from the , boj bank of england. more retaliation

if i was rachel reeves, i'd insist they take it out.l reeves' statement that she gave to treasury officials yesterday. two things. 0ne saying we need to talk about... and it's usually women in underappreciated areas of the economy. they need to be brought into policymaking. and also the treasury. she said, "this building has got to be about growth," because actually, up until now, the treasury... of course they care about economic growth, but delivering growth has been in other departments. 0k, we don't have growth of this programme. we hardly have any time left. it's 11:25. let's do six hours! you're listening to newscasts. shush! we have to talk about what happened to the tories — their terrible defeat. this is what rishi sunak said yesterday morning. to the country, - i would like to say — first and foremost — i am sorry. - i have given thisjob my all, but you have sent a clear i signal that the government - of the united kingdom must change, and yours is the only. judgment that matters. there are no conservative mps in oxfordshire s

why is rachel reeves making those announcements you were just hearing about today? might be further down the track. there's lots still to come, we will get a lot more appointments to sir keir starmer�*s ministerial team, we only know about the cabinet and a few others at the moment, and then to moral sir keir starmer in his first international does it. he is going to washington, dc for a nato summit. it all comes thick and fast. of keir starmer and the labour government get the next few days and weeks right, then they could be quite popular. —— if. but if they get them wrong, things could sour fast. : «a , at 7.30, we'll be speaking to the new chief secretary to the treasury, darrenjones, about labour's plans for the economy. we'll also hear from the conservatives and the liberal democrats throughout this morning's programme. france is facing political deadlock after parliamentary elections dealt a shock blow to the far—right national rally, but left no party with a majority in the country's national assembly. official results show a victory for the left—wing new po