we had that sobering spending review from the chancellor rishi sunak.lves really. some of the numbers in this that rishi sunak made out for mps isjust astonishingly stark. we are used to rishi sunak coming to the house of commons to deliver relatively good news about the way the government is going to spend to help prop up the economy in the wake of serious coronavirus restrictions. this time around, he was really delivering quite bad news. he had some spending to do, but he said that there is more money for housing, railways, broadband, upgrades, the green agenda but apart from that, money for this levelling up fund you noticed. but big cuts to foreign aid and a freeze of public—sector pay which are both very controversial. you cut out very slightly but we got the just of what you're saying, so thatis the just of what you're saying, so that is all good jessica. we're just going to check your line. john what guardian is done quite cleverly is showing the 300 your timeline. we are all becoming great experts on the frost of 1709. and the figures asjust sa

sunak‘s according to the telegraph, or rishi suna k‘s plans to according to the telegraph, or rishilevel up a post brexit britain, including £1 billion to strengthen the uk border. we have the spending review next wednesday where rishi sunak will both try and explain how he'll restore the nation's finances and splash quite a lot of cash. i'm slightly tickled by the telegraph headline, it has the words in quotes, but a lot of it is talking about breaking free from brussels as though that'll give us some sort of economic bonus. but it then goes into detail explaining a lot of this money will be spent on the cost of brexit, such as £2 billion to improve our customs and border facilities. and an additional several hundred million to compensate farmers. i'm not sure it'll be a great post brexit bonanza as its build in the headline stop and of course, we have to think about the cost of covid. that's right, but they do have to think about issues beyond covert mat, and this is part of the great reset that they're talking about to move on from some of the badly handled aspects of the pandemi

which is that rishi sunak isn't being an augustinian chancellor.uous but not yet. he keeps talking about how the books will have to be balance at some point. and hinting at tax rises to come. i don't think they are going to come on wednesday for top not substantial ones anyway. wednesday is going to be big public spending continuing. he is going to worry about how to pay for it later. very interesting, we are not talking about presumably deposed but we spoke last hour looking at its front page the regional paper saying they are worried because of financial questions the leads part of age as it is going to be phased for that will be developed much more slowly than previously thought. there is a story, a small part saying transport for london has written to the chancellor warning the cross rail is at risk in terms of the already delay and it could be delayed beyond 2022. and it was supposed to finally open. the kind of subtexts under all this extra money and all the rest of it is that there is some quite difficult decisions that the government is goi

labour say rishi sunak‘s hitting workers in their pockets. this year the chancellor stood on this doorstep and clapped for key workers, today his government institutes a pay freeze for many of them. and plans to cut overseas aid lead to one minister resigning amid conservative protests. none of us in this house will be able to look our children in the eye and claim we did not know what we were voting for. the chancellor, rishi sunak, has laid bare the scale of the economic crisis and the cost of coronavirus in his spending review. the economy will shrink by 11% this year. unemployment could hit two point six million in 2021 as a result of the pandemic. rishi sunak, who later visited a vaccine research centre, told mps there'd be a fund to help the long term unemployed into work. but almost half of public sector workers although not front line nhs staff will see their pay frozen. an international development minister, lady sugg, resigned after the chancellor ditched a manifesto commitment and cut overseas aid spending. rishi sunak did find som

what is it you think rishi sunak has got wrong today?ending review was a moment for the chancellor to take responsible choices our country needs. it was also an opportunity to protect our key workers, secure the economy and recover jobs key workers, secure the economy and recoverjobs in key workers, secure the economy and recover jobs in every key workers, secure the economy and recoverjobs in every part of our country. we have seen during this crisis so many people take responsibility, such as front line nhs staff who have been working around the clock to keep us safe quarters, keeping our hospital is functioning, including teachers and teaching assistants, who have been working so that key workers could too. i have to say that the chancellor has stood on his doorstep and he has clapped for key workers, and he has clapped for key workers, and today the government institutes and today the government institutes a pay freeze for many of these workers. what would you do? what would we do? labour has been consistent in calling for further ac

he is now set that into the spring —— — rishi sunak.use people is pretty uncomfortable in the point of the press conference. ad, very interesting to have you join us. interesting to have you join us. thank you to chris and vicki and thank you for listening to this edition of newscast. we'll be back with another one, very soon. hello there. it looks like the weather should even out a bit more, i think, for friday. certainly compared with thursday, where we had the wind blowing over the pennines, bringing some sunshine in durham and temperatures reaching 18 degrees. whereas across southern parts of england, when that fog formed, it lingered into the afternoon in some places and temperatures only eight or nine celsius. now, it's quite chilly early in the morning across more southern areas of the uk. where we have the clearer skies, a pinch of frost. further north there is more cloud around. but where we have those clearer skies in england and wales, there's some mist and fog, particularly towards the west country and the south—east of wale

the financial times is now looking at what rishi sunak‘s times is now looking at what rishi suna k‘st what rishi sunak‘s facing, or as public finance since the second world war, tim —— worst public finance. as we touched on earlier, is not a time when there isa on earlier, is not a time when there is a lot of money, and we have got the chancellor delivering his financial statements week to the house of commons —— next week. it is interesting time given the pandemic. it is very difficult situation. despite the unfair things rachel shared with your viewers, actually, the reason why the government is in such a difficult fiscal position is that it has been increasing things like universal credit, it has been spending an enormous amount of money protecting the british public from the worst excesses of the terrible pandemic, but we have all been living through, and the numbers that we re living through, and the numbers that were revealed in this ft article, gdp, the national income level and by 11% in the last year, meaning that even by the time of the next election, 2024, £60 billion of r

the uk chancellor, rishi sunak, has warned britain's economic emergency has just begun, as he forecast a huge hit to output in his spending review. hello, and welcome to our look ahead to what the papers will be bringing us tomorrow. with me are the deputy political editor at the daily mail, john stevens, and the deputy political editor at the guardian, jessica elgot. great to see you back, thank you so much for being with us. let's start with the pages we already have. the metro leads with the news that football legend diego maradona has died from a heart attack at the age of 60. he is described as the greatest player of his generation, and arguably the greatest ever. the sun says england's world cup nemesis and one of the all time greats is now in the "hands of god" — a reference to maradona's famous and controversial goal against england at the 1986 world cup. the telegraph goes with a warning from the chancellor, rishi sunak, that britain's economic emergency " has only just begun". it comes as as he put the country on notice of tax rises to pay for the £550 billion cost of coronav

to be giving his spending review next week and the ft is saying that rishi sunak faces the worst hitond world war. some of the figures here are incredibly dramatic. yes. completelyl the figures here are incredibly dramatic. yes. completely i watering figures and a really bleak scenario for the next few months and years ahead. it is predicted in this piece in the ft the uk will not emerge from this until the next election in 2024. this from this until the next election in 202a. this is, two things that we can say about this. one is that part of the reason the uk is in such dire financial straits is this government mismanagement, the fact we went into the first lockdown so late minute we stayed in it longer most of the fact the government did not use the first lockdown to build an effective test and trace system means we are now and trace system means we are now and in the lockdown. this of the hardship it was always going to be tough, corso was, but the response tough, corso was, but the response to the pandemic has been made it worse but the other thing to the shows us what we need t

and there was relatively little from rishi sunak about the sort of zeal and opportunity in the privateslightly thatcher —ish part where he was talking about community and family and business, but one senior tory mp said to me, i wa nt but one senior tory mp said to me, i want to hear how he's going to recreate the animal spirit of the economy, how is going to unleash the power of the entrepreneur to make a difference. there are two the uncertainties on these figures. 0ne is the vaccine, of course. and of course that's going

we were told, "unfortunately, we have just missed the chancellor rishi sunak getting into his car." when has somebody getting into a car been news and so newsworthy as to interrupt other essential services? well, the chancellor's car did deliver him to the house of commons, and just after he spoke there, political correspondent jonathan blake reported from westminster about the sums of money we had been told had been spent so far, as a result of covid—19. it's about five—times the amount the government spends each year on its most expensive departmental bills. distant shouting. the department for work and pensions, essentially, welfare payments. it will spend another £50 billion next year. shouting continues. the chancellor said that level of spending and borrowing the government is having to do to spend, is not sustainable. those noises off gave rise to a complaint we had frequently last year, when demonstrators for and against brexit, were frequently head off camera, outside parliament. here is trevor adams. there were plenty more opportunities over the next couple of days to hear

chancellor rishi sunak sets out his spending plan today.trike a balance between supporting the economy and reining in the deficit? next. coming up this is bloomberg. ♪ ♪ good morning. this is "bloomberg daybreak: europe." today, u.k. chancellor rishi sunak is set to announce 4.3 billion pounds of new funding to help the unemployed get back to work. that is as he unveils budgets for government departments later today. increaseo expected to spending on infrastructure and public services in an attempt to revive the economy. joining us now is rory bateman, global head of equities at schroders. i want to quickly get your thoughts on what rishi sunak plans to do today. do you think this could help whet the appetite of investors to come back into the very unloved u.k. equity market? rory: good morning. thanks for having me. absolutely. i think what sunak is going to be doing is we cannot -- think, we cannot steer the economy on course if there is not -- you mentioned infrastructure. we are anticipating quite a bit actually. annmarie: i also want t

and this is rishi sunak and setting out the reckoning. the warning shots are there.e warning shots are there. he also said to borisjohnson, i am the chancellor, i run the treasury. i determine how money is spent and raised. it's interesting, the second paragraph surely starts in a shot at borisjohnson. paragraph surely starts in a shot at boris johnson. that's paragraph surely starts in a shot at borisjohnson. that's the sunday times interpretation of what's being said. but they've got the nod to do this without question from the chancellor. because i would've done otherwise was up this is setting up a real rift potentially between number ten and number 11 for the top we haven't had that kind of abuse since the high blair problems 15 yea rs since the high blair problems 15 years ago. or so. since the high blair problems 15 years ago. orso. because since the high blair problems 15 years ago. or so. because we know that cameron and osborne were very tight. even under philip hammond and maite were very tight. now it would appeara maite were very tight. now it would appe

talk us through what rishi sunak has commissioned a review of capital gains tax. so, there have been reports for some time that the chancellor has been thinking about at what point taxes may go up. i hope he doesn't do it to soon, because i just hope he doesn't do it to soon, because ijust think in economic times like this, borrowing is cheap and it's really urgent that the government spends money. so, for me, thinking about tax rises sort of comes later on down the line, but that said, he has commissioned this review from the office of tax implication. it's a government body, stature due to body, rather, and they have come back saying that capital gains taxes the tax, i don't think there were any surprises there. there have been so many reviews. taxes increase in people's asset values. it increases in wealth, tax lower rates than income tax. it's really unfair, it means if you own a lot of well, you end up paying less tax on increases in your wealth than people who are working injobs, getting paid, and also lots of loopholes around capital gains tax. it falls dis

extent of the economic and financial crisis facing the uk, has been spelled out by the chancellor rishiunak, who set out his spending review today. the cost of fighting the pandemic has led to record government borrowing and the worst recession in more than three centuries. next year, more than two and half million people could be out of work. and this year alone, the government will be borrowing nearly £400 billion, the highest ever in peacetime. some public sector workers can expect a pay freeze, though nhs staff and those earning less than £24,000 a year will be exempt. but the chancellor is spending £3 billion on the restart programme to help the unemployed find work, and a further £4 billion to target investment in those areas that have lost out in the past. we start with our political editor laura kuenssberg on the day's events. a warning, her report contains some flashing images. how bad is it looking, chancellor? the straight answer — it's looking very bad. the chancellor's smooth political style can't hide what's been lurking in number 11's spreadsheets. part one of the pandemi

if rishi sunak takes private sector workers. if rishi sunaktakes up private sector workers. suggestion by a think tank the government could save £23 billion a year by freezing public sector pay for three years or 15 billion of nhs workers were exempt. of course are nhs staff have been at the forefront but still have civil servants, local authority workers, care workers. this pandemic has demonstrated how much the government relies on the public service. freezing public sector pay was one of the main austerity measures after the financial clash with no pay rises in the public sector for three years and after that they were capped at i%. that over the decade has cut the difference between public and private sector pay. if you strip out pensions it is very little. it is like going back to the days of austerity the last decade where public service workers who have paid the price, 700,000 jobs lost. it is a kick in the teeth. but the government borrowing £215 billion in just seven months according to figures released today spending cuts and tax rises are inevitable but announcing

rishi sunak warned that government debt and borrowing are at record levels.by 11.3% this year, the largest fall for 300 years. he announced that pay forjust under half of all public sector workers in england will be frozen, but nurses, doctors and lower paid workers will get a pay rise. the unemployment rate is expected to peak at 7.5% in the second quarter of 2021. that's 2.6 million people who will be out of work. rishi sunak also announced a new levelling up fund and national infrastructure bank to finance local projects. we'll have plenty this afternoon about these announcements. ourfirst report is from our political correspondent jonathan blake. reporter: how bad is it looking, chancellor? he knew and would soon tell us how bad the country's finances were, how big the bill for the pandemic had become and how much ministers might get to spend. before the big numbers and big promises, a reality check on what state the economy is in. chancellor. mr speaker, today's spending review delivers on the priorities of the british people. our health emergency is not

rishi sunak. continuing on with furlough, not just as do. rishi sunak.ough, notjust as expected for one month, but... it will be extended until the end of march. the government will continue to help pay the wages of people up to 80% of the normal amount and all employers will have to pay for hours not worked is the cost of employer pension contributions. a huge announcement made he said amid a worsening economic backdrop. the government had faced claims it only finally extended further when england were back into lockdown.” extended further when england were back into lockdown. i also want to reassure the people of scotland, wales and northern ireland. the furlough scheme was designed and delivered by the government of the united kingdom on behalf of all the people of the united kingdom, wherever they live. that has been the case since march and it is the case now and will remain the case until next march. labour accused the chancellor of having ignored business plays until the last minute. the chancellor's fourth version of this winter economy plan inju

rishi sunak has said that people will not see austerity but some economic shocks will be laid bare.tion to the news of this apparent pay freeze for the majority of public sector workers, apart from front line nhs staff? do you think they are facing austerity? well, we have to wait to see what the chancellor actually brings out this afternoon, but certainly if the reports are to be believed and there isa reports are to be believed and there is a public sector pay freeze on its way, i know, from reaction we have had from our members in the public services, that they feel absolutely and totally betrayed by this government, particularly as it is many of those workers that have actually got us through the coronavirus pandemic that we are witnessing. for example, our members in schools, and although schools have been closed in many parts of the country for most pupils, they have been open for the pupils of key workers and vulnerable adults, and so our workers and vulnerable adults, and so our members have actually been working in schools, putting themselves at risk on the front line from

let's talk about rishi sunak.he house of commons from him later about an extension to furlough and obviously the very nations of the uk have been very alert, naturally, to any suggestion that england might be getting a better deal than other parts. so what will be here from rishi sunak? i think we will hear a general update because when the announced over the weekend that furlough would be extended rather at the last minute as england was going into a full lockdown, but we haven't heard from rishi sunak in the house of commons since, so there will be an update on that i think, and there's been this question that it has been extended for england for the month, what if in future scotland, wales and northern ireland feel a lockdown is necessary? will workers get the same entitlement of up workers get the same entitlement of up to 80% of wages for hours not work. borisjohnson has said it is a uk—wide scheme and has suggested it would be available, but details have been foggy, like the weather, so i expect rishi sunak

what do you make of rishi sunak‘s response?been very interesting to see how the chancellor, who was also supposed to be one of the possible successors of borisjohnson, and who is highly popular currently in the uk, how he is trying to bridge the situation. so on the one hand, protecting people — and we have a kind of new lockdown coming on in the uk on the 2nd of december which is called tier system which, in the highest tiers where cities such as manchester will still be in, is quite stark. pubs and restaurants cannot open. but on the other hand, keeping the economy going. if you look around europe, this is the dilemma you have everywhere. actually, in germany, my country, where cases are lower still than in the united kingdom, the government is keeping the lockdown until christmas. and it is even harsher than it has been before, and no restaurants and no pubs, nothing is opening. so there is a real big crisis all over europe in terms of covid. agnes poirier, we have, on saturday, during the course of the weekend, the shops op

here's rishi sunak in parliament earlier. is not yet over, and our economic emergency has onlyjust begun. mrsunak also laid out the economic consequences of covid — projecting that the uk economy will shrink by 11.3% this year, the largest contraction in 300 years. the unemployment rate is expected to peak at 7.5% next year — that equates to 2.6 million people out of work. that means the government expects around i million more people will lose theirjobs by the middle of next year. and the chancellor warned that the economic effects will be long lasting. economic output is not expected to return to precrisis levels until the fourth quarter of 2022. and the economic damage is likely to be lasting. long—term scarring means in 2025 the economy will be around 3% smaller than expected in the march budget. kathleen brooks is founder and director of minerva analysis. breathtaking statistics and we've had a discussion about one aspect of the uk economy, pubs and how their outlook is so grim. given the restrictions we are going into.

but that is not the economic well—being that rishi sunak signed up well—being that rishi sunak signede to plug the gap? he implemented a tax inflammation... they came back with a tax on the gain in people's assets, whether it's stocks and shares or second properties. it's a tax on the gain oi'i properties. it's a tax on the gain on people's assets. it's a really badly designed tax and numerous reviews over the years have said it needs reform, it doesn't tax gains in wealth at the same rate. it seems unfair if you're very wealthy and sitting on several properties. you're paying much less in taxes than you would be if you were earning the same amount of money through working a job, so there are real discrepancies in the system that are unfairand real discrepancies in the system that are unfair and unfairly benefit people. the times called it the middle class, i'm not sure if the tax that's really going to hit the middle class. it will think about it's really more the wealthy. i think it's good to be talking about this. that said, these proposals have come before the chancellor since tim

rishi sunak will have expected those attacks.opinion on his own side over that cut in aid spending may have been more surprising. a foreign office development minister, lady sugg, resigned in protest and tory mps suggested he might have a fight on his hands to get this through. this proposed breaking of the 0.7% promise and the 30% further reduction in cash will be the cause of 100,000 preventable deaths, mainly among children. this is a choice i for one am not prepared to make. none of us in this house will be able to look our children in the eye and claim, "we did not know what "we were voting for." no longer will girls have 12 years of quality education, resulting in more child marriages, more instances of early childbirth, more fgm, more domestic violence. i personally feel ashamed that the only manifesto pledge we are breaking today is our promise to the world's poorest. rishi sunak said it had been a very difficult decision, and there was some conservative support. i don't see why it should be controversial to say that we s

rishi sunak was against doing that and wanted to get the economy moving again.ty big u—turn from the government. for the moment, thank you very much. we will be taking you to the commons live just after midday where we are expecting to hear more on that furlough scheme extension from the chancellor, rishi sunak. the governor of the bank of england has been speaking to the bbc about the scale of the uk economic downturn, saying it's unprecedented. he was speaking just this morning and said the economy will not recover to pre—coronavirus levels until early 2022. if you look at history it is an unprecedented year. i think if you put together what we have experienced in our forecast, put together what we have experienced in ourforecast, it looks like the economy will end up ten or 11% below the level of activity we had at the end of last year. that is historically unprecedented, pretty much. i cannot give you exact figures for the last 300 years, but it is a huge impact. there is nothing, certainly in modern times, that we could point to that would be like that. the

despite the billions he spent on the pandemic response, rishi sunak is saying we will not see austerityp to a degree but the devil will be in the detail as to his spending review. absolutely. in terms of what is going to say, i think he will have a clear directive from borisjohnson not have a clear directive from boris johnson not to say have a clear directive from borisjohnson not to say be a word which is of course austerity. one of borisjohnson ‘s key pledges was to remove the nation from austerity but u nfortu nately, the nation from austerity but unfortunately, as you say, it‘s going to be in the detail. we‘ve moved from public spending being at 40% of gdp to around 60% of gdp which is an area we haven‘t seen since the war. we know that there are billions, billions of pounds that need to be put back into the economy and it‘s going to have to come from somewhere. so rishi sunak may not out on those plans on wednesday, may not show specifics about that happening but unfortunately, i think it is going to be tough. james, thanks and good to see you. thanks for your analysis. let‘s now

the chancellor, rishi sunak, said the changes were part of the government's "levelling up" agenda.ding review next week, as our business correspondent katy austin reports. major public projects like new transport links can provide a tangible, long lasting boost to the economy. historically, some areas feel they haven't had their fair share. this business in hull says that better connections to other cities like york would really help. i feel that the north has often served second fiddle to the south. i appreciate it's where the capital is, and where a lot of businesses are, but the playing field is getting more and more lopsided. it needs to be levelled. the question looms of how to put the public finances back on a sustainable footing after the huge cost of coronavirus but the government still wants to be talking about investing, too, across the whole of the uk. next week, in the spending review, the chancellor, rishi sunak, is expected to announce tens of billions of pounds for infrastructure, including road improvements. the delayed national infrastructure strategy will be publi

support people through to next march. —— rishi sunak.ve to figure out if they are bringing enough money over the counter are three details to carry on. it's very difficult. yes, and we need some good cheer. you are getting so excited and looking forward to these vaccines, these huge steps for the scientists we re these huge steps for the scientists were making but the daily telegraph... talk us through what is going on with the oxford vaccine. there has been confusion about some of the data that was produced. they are running an extra trial amid questions and there was some data that was revealed that they had achieved overall efficacy rates. of 70% achieved overall efficacy rates. of 7096 in achieved overall efficacy rates. of 70% ina achieved overall efficacy rates. of 70% in a particular phase of the trial but it raised to 90% in a subgroup, so there have been question marks over the data produced. there is an awful lot of work going into making sure these vaccines are safe and they go through independent bodies that are involved. but

chancellor of the exchequer rishi sunak speaking earlier empowerment.ning us to give us his , ukx andt, john glen at surgery of the treasury -- ukx on a mac secretary of the treasury. how would you characterize -- u.k. economic secretary of the treasury. how would you characterize this spending package? is the worst contraction we have seen in 300 years, and they present significant challenges to our economy. he also set out a package of spending for the coming year, and will come back to parliament with a budget in march to indicate the way forward when we are clear on the effect of the vaccine and how we can actually look with confidence about the economy and on-site had. -- economy in the months ahead. guy: the prime minister has promised there will be no return to austerity yet today there was a freeze to public sector wages outside of the health sector. for those that are going to feel the effect of that, that is going to feel awfully like austerity. there are clearly very challenging decisions that the chancellor has had to make, and that is one o

but rishi sunak has gone from eat out to help out, to eating his words. have chosen to attack the government for trying to keep the economy functioning, and to make sure the support we provide encourages people to keep working. but to anyone in the real world, that isjust to keep working. but to anyone in the real world, that is just the thing you have to do when the circumstances change. there have been several versions of the chancellor's support plan in recent weeks. labour said the furlough scheme should have been extended sooner, and that the delay had cost jobs and livelihoods. chancellor can change his mind at the last minute, mr speaker, but businesses can't. we need a chancellor who is in front of the problem is that we face, not one thatis the problem is that we face, not one that is always a step behind. and the first minister of scotland said uncertainty over wage support had had dire consequences. u nfortu nately, had dire consequences. unfortunately, because many businesses and workers expected the furlough, the existing furlough scheme to e

but rishi sunak set to scrap living wage ride in blow for poor workers.s to begin with its belt of the last few days forget to my inbox if nothing else it's been an announcement after announcement about what is coming this week in the spending review at all big ticket items, many being splashed around but now we are really coming down to the hard edge of this and seeing what is going to suffer. and this is basically a rise in the national living wage being not completely scrapped, is still going to go up within inflation but not as much as what expected. and this comes after, it's already been reported that there will be a public sector pay freeze because it does not feel right for public sector wages to go up at the same time as a lot of people in the private sector losing theirjobs and it we will also have the prime minister saying he does not think mps get a pay raise either. it's all very much tightening of the bells, and not to sound like a broken record on the north—south divide, but it can't be ignored that the vast proportion of those on the livin

that is why rishi sunak was relu cta nt to that is why rishi sunak was reluctant to go back to the fullcing the amount it pays towards people's salaries. but ultimately it is so worried about the situation we find ourselves in now, economically and health—wise, that it has had to come back with the blanket system which will be in place for a lot longer than many people thought. nick, stay with us. thank you. we wa nt to nick, stay with us. thank you. we want to talk momentarily, unless borisjohnson want to talk momentarily, unless boris johnson interrupts us, want to talk momentarily, unless borisjohnson interrupts us, about the situation in the us. there is no sign of the prime minister yet so it might give us time to update you on the latest in the us presidential election race, and we are hearing in the last few moments that the bbc is projecting that wisconsin will go to the democratic candidatejoe biden. as you see, that carries with it ten electoral college votes. you might think, i already knew that, wisconsin has already gone tojoe biden, but i have to stress it depends where yo

the chancellor, rishi sunak, said the changes were part of the government's "levelling up" agenda.ll be announced in the spending review next week, as our business correspondent katy austin reports. major public projects like new transport links can provide a tangible, long—lasting boost to the economy. historically, some areas feel they haven't had theirfair share. this business in hull says that better connections to other cities like york would really help. i feel that the north has often played second fiddle to the south. i appreciate it's where the capital is, and where a lot of businesses are, but the playing field is getting more and more lopsided. it needs to be levelled. the question looms of how to put the public finances back on a sustainable footing after the huge cost of coronavirus but the government still wants to be talking about investing, too, across the whole of the uk. next week, in the spending review, the chancellor, rishi sunak, is expected to announce tens of billions of pounds for infrastructure, including road improvements. the delayed national infrastruct

yes, this is something that the government and rishi sunak didn't wa nt to government and rishi sunakwas only six months ago that they were telling us all about the scheme that they felt would have a place fellow but i think it is a sign about how worried they are about the economic picture and the continued concern over the health picture that they felt this need to pump potentially billions of pounds back into the scheme, meaning it will run until the end of march. it gives a loss of employers, lots of people who are worried about theirjob is a bit of a lifeline it means that people who are made redundant after the 23rd of september can be brought back onto the furlough scheme and given a bit more breathing space as well, but, politically, it is quite a hard mood for the government actually because rishi sunak in the past has been really critical of some of those calling for fellows to be extended. we know the labour party, the snp, devolved governments were asking them to do this a few months ago now and it's only today that we finally find out that it is going to ask that whole ye

the chancellor, rishi sunak — said the changes were part of the government's "levelling up" agenda.ll be announced in the spending review next week, as our business correspondent katy austin reports. major public projects like new transport links can provide a tangible, long lasting boost to the economy. historically, some areas feel they haven't had theirfair share. this business in hull says that better connections to other cities like york would really help. i feel that the north has often served second fiddle to the south. i appreciate it's where the capital is, and where a lot of businesses are, but the playing field is getting more and more lopsided. it needs to be levelled. the question looms of how to put the public finances back on a sustainable footing after the huge cost of coronavirus but the government still wants to be talking about investing, too, across the whole of the uk. next week, in the spending review, the chancellor, rishi sunak, is expected to announce tens of billions of pounds for infrastructure, including road improvements. the delayed national infrastruct

if rishi sunak takes up a suggestion by the right—leaning think tank, the centre for policy studies,ing public sector pay for three years — or 15 billion if nhs workers were exempt. of course our incredible nhs staff have been at the forefront of this. but so have care workers. so have local authority workers. so have civil servants. if this pandemic is demonstrated one thing, it's how the government relies on the entire public service. freezing public sector pay was one of the main austerity measures after the financial crash — there were no pay rises in the public sector for three years, until 2013, and after that they were capped at 1%. that, over the decade, has cut the difference between public and private sector pay. if you strip out pensions, it is now very little. it's like going back to the days of austerity in the last decade. pay freezes, 700,000 jobs lost. it's pretty much harder to deal with in the pandemic. it is a kick in the teeth. government borrowing £215 billion in seven months coming according to figures, spending cuts and tax rises are inevitable. but enhancing t

the chancellor, rishi sunak, said the changes were part of the government's levelling up agenda.y'll be announced in the spending review next week, as our business correspondent katy austin reports. major public projects like new transport links can provide a tangible, long lasting boost to the economy. historically some areas feel they haven't had their fair share. this business in hull says that better connections to other cities like york would really help. i feel that the north has often served second fiddle to the south. i appreciate it's where the capital is, where a lot of businesses . but the playing field is getting more and more lopsided. it needs to be levelled. the question looms of how to put the public finances back on a sustainable footing after the huge cost of coronavirus but the government still wants to be talking about investing, too, across the whole of the uk. next week in the spending review the chancellor, rishi sunak, is expected to announce tens of billions of pounds for infrastructure, including road improvements. the delayed national infrastructure str

a smiling rishi sunak.. little bit of festive joy here, christmas has been said, it seems.hael gove has been associating with the leaders in the rest of the uk on a set of rules for christmas, and they have agreed broad principle plan which will allow bigger household bubbles to meet just temporarily over christmas. it's looking like it will be five days, and probably three households. they can get together over christmas, and people will be able to travel across the uk, although they are asking people to restrict their travel are possible. they mirror doesn't often give a positive hurdling to the present government, but it has tomorrow morning. i guess you might call it an early christmas present for borisjohnson. call it an early christmas present for boris johnson. it call it an early christmas present for borisjohnson. it is hard to imagine anyone arguing against us in oi’ imagine anyone arguing against us in or outside quite hot. there will be consequences, but it is very difficult for any political leader to effectively say to people, sorry, your christmas as cancer.

here in the uk rishi sunak has set out his economic.of fighting the pandemic has led to record government borrowing in the worst recession in three centuries. next year it's feared that more than two and half million people could be out of work with some public sector workers facing a pay freeze. this year alone the government will be borrowing nearly £100 billion. the highest everin nearly £100 billion. the highest ever in peacetime. in moment we will be hearing from her economics editor but first here is mr sunak delivering the grim news in the house of commons a little earlier. the grim news in the house of commons a little earlier. economic output is not expected to return to precrisis levels until the fourth quarter of 2022. and the economic damage is likely to be lasting. long—term scarring means in 2025 the economy will be around 3% smaller than expected in the march budget. grim economic numbers are of no surprise to anyone looking out on high street. here in waitsfield in yorkshire lockdown means that no shoppers or staff as el