it’s make of this change in tactics by the tory party?— the tory party?tory party? it's been a few weeks ago actually that - the tory party? it's been a few weeks ago actually that they i the tory party? it's been a few- weeks ago actually that they signal that they were going to climb down on this planning rule which did allow for much more liberal planning system and allowed people to basically build in a much more liberal weight, a much easier way and there was a huge backlash in your recall the violation injune that the tories lost to the liberal democrats over this very issue was up democrats over this very issue was up and i think borisjohnson inc. ministers were quite shocked and taken aback by that is they thought they had a strong mandate to basically do what they wanted after winning in a landslide and have had to roll back in quite a serious way. so whilst over the last nearly two years he has been appealing to the red wall in northern seats, this was actually a shot from the south and i think what he needed to do today and what he did do and i

of law— to reclaim the tories as the party of law and — to reclaim the tories as the partyof law and order but also see what he can do— of law and order but also see what he can do to — of law and order but also see what he can do to get britain used to tougher— he can do to get britain used to tougher carbon emissions. ahead of next month's cup 26 climate summit. it's next month's cup 26 climate summit. it's an— next month's cup 26 climate summit. it's an awful — next month's cup 26 climate summit. it's an awful lot on his agenda whether— it's an awful lot on his agenda whether he will be able to accomplish any of it or not, who knows? — accomplish any of it or not, who knows? gf— accomplish any of it or not, who knows? ., ,, ._ knows? of return to the sunday ex - ress, knows? of return to the sunday exoress. the — knows? of return to the sunday express, the same _ knows? of return to the sunday express, the same story. - knows? of return to the sunday express, the same story. borisl express, the same story. boris billowed back starts now. one of the slogans he had there w

this winter is going to be _ the tory party. this winter is going to be a _ the tory party.terrible winter for millions of people. and that's what we should be caring _ of people. and that's what we should be caring about. who cares what happens — be caring about. who cares what happens in — be caring about. who cares what happens in the next election? at the moment— happens in the next election? at the moment the government is not looking after its _ moment the government is not looking after its population the way it should — after its population the way it should because it's been elected to do s0~ _ should because it's been elected to do so i'm — should because it's been elected to do so. i'm afraid that's where it has to— do so. i'm afraid that's where it has to stop _ do so. i'm afraid that's where it has to stop. and we can't keep on talking _ has to stop. and we can't keep on talking about who's going to wind the next — talking about who's going to wind the next election. we just have to hold this — the next election. we just have to hold this government to a count.

— saying the same but he said at the tory party conference and using the sort of— tory party conferenceinals, because they have a right to family life. but, you know. _ have a right to family life. but, you know, very conveniently glossing over the _ you know, very conveniently glossing over the fact that the human right act 7 _ over the fact that the human right act 7 the — over the fact that the human right act ? the human rights act has brought— act ? the human rights act has broughtjustice to many, many people. — broughtjustice to many, many people, including the hillsborough families, _ people, including the hillsborough families, the mid staffs hospital deaths — families, the mid staffs hospital deaths families, the women involved in the _ deaths families, the women involved in the so—called spy cop undercover police _ in the so—called spy cop undercover police controversy. and many other things _ police controversy. and many other thins. ., ., i. ., ,, police controversy. and many other thins. ., ., .,~ ., things. nigel, what do you make of this dia ? things. nigel, what do you m

members, probably— course, his tory party members, probably think this is in the tray party— probablyk this is in the tray party they sent up to join up those years— party they sent up to join up those years ago — party they sent up to join up those years ago. so this is a great balancing _ years ago. so this is a great balancing act, when where boris johnson — balancing act, when where boris johnson will have to spend that sit circle _ johnson will have to spend that sit circle in _ johnson will have to spend that sit circle in the months to come. quickly, tony, you won't find any you have no fiercer and more zealous an opponent of unnecessary tax rises said the prime minister. meanwhile, iain duncan smith said we are heading intoa iain duncan smith said we are heading into a perfect storm. well, it's unlikely. _ heading into a perfect storm. well, it's unlikely, so _ heading into a perfect storm. well, it's unlikely, so we _ heading into a perfect storm. well, it's unlikely, so we must _ heading into a perfect storm. well, it's unlikely, so we must take - heading into a perfect stor

the conservative party holds its annual conference. we will go live to the toryrence in manchester, where tom mackenzie is standing by with a special guest. good morning, tom. tom: good morning, francine. it is the first conservative party conference since 2019. last year's was canceled as a result of the pandemic. voters across the country talking about the constraints, the second weeks of the fuel crisis and the shortages at the petrol pump, and the impact on households as a result of that. i am pleased to say i am joined by the president of the confederation for british industry, who can give us those insights into the impacts of the corporate and business level of some of those inflationary pressures. some of this is down to supply chain, some down to the shortages in labor. i will start by asking for your reaction to prime minister's statement over the weekend to the bbc that these adjustments are post-brexit adjustments. he pushed back on the idea that there would be a further loosening of restrictions to allow more workers in. i know you have been vocal ab

as he has not got a -rip the tory party as he has not got a grip on— the tory party as he has not got to struggle over the next weeks _ is going to struggle over the next weeks and months, as the reasons lucy have — weeks and months, as the reasons lucy have explained.— weeks and months, as the reasons lucy have explained. let's move away from the conservatives. _ lucy have explained. let's move away from the conservatives. everard - from the conservatives. everard keller was guarding the house of commons. , , ., ., ., ., , commons. this is an extraordinary sto . it commons. this is an extraordinary story- it seems — commons. this is an extraordinary story. it seems he _ commons. this is an extraordinary story. it seems he had _ commons. this is an extraordinary story. it seems he had an - commons. this is an extraordinary story. it seems he had an access l commons. this is an extraordinary. story. it seems he had an access all areas _ story. it seems he had an access all areas pass — story. it seems he had an access all areas pass it — story. it seems he had an access all areas pass.

it is really hard to get this measure through the tory party, and there _ this measure through the torylots of ministers who feel that _ and there are lots of ministers who feel that because they have objections to it, it's not about against — objections to it, it's not about against it. _ objections to it, it's not about against it, but they think they should — against it, but they think they should be about in the house of commons — should be about in the house of commons if you want to bring it forward, — commons if you want to bring it forward, and it is not clear that the government would have the numbers — the government would have the numbers. so i think it is one of those — numbers. so i think it is one of those things where it's bryce johnson _ those things where it's bryce johnson can avoid going there, he welt _ johnson can avoid going there, he welt as— johnson can avoid going there, he well. as rachel says can i think it really— well. as rachel says can i think it really depends on how things progress. i can see how if you need vaccine _ progress. i can see how if you need

tory. your party take my “0b of me. just as — tax tory. your party take my “0b of me. me. just as jacob rees-mogg was | me. just as jacob rees-mogg was confronted today, _ me. just as jacob rees-mogg was confronted today, ministers - me. just as jacob rees-mogg was confronted today, ministers can'tl confronted today, ministers can't turn away. even the most polished political scripts can be written in a moment by what happens in the real world outside. it was a big day for rishi sunak today. the man who is in charge of the nation's cheque book. he was warmly received but it was interesting, it wasn't a massive, barnstorming speech received with thunderous applause, even though the audience was clearly on his site. listening to him and talking to other ministers privately around the edges of the conference, it's clear there is a real concern in government about the rising prices that people are feeling in all parts of the country, about those supplies stresses and strains making things very uncertain and about what the prime minister hopes will turn into higher wages fo

some of the biggest party down as for the tory parties and for the tory party, are russians. and some of those have, gosh, are questions hanging over and, but it's, this is a matter for your tower. she is in u k. t in investigate and it's a matter for the british citizens to ask is, is appropriate for people who are, are from another country, frankly, to, to finance your politics? well, the british citizens, if you are, you know, you go me dumb for racism for that venezuelan president, maduro. and he has a problem with the bank of england. it apparently stealing venezuelan golden certainly once the money that has been exploded abroad. you know, that while the european union responded quickly to the release of these papers, whereas johnson said, all these donations are vetted in the normal way in accordance with rules that were set up under labor government. so we've at them the whole time she selected say h m r c will probe the information. that eager question is, who is batting the offshore? we're out. and the answer is hardly anyone saw that we know about the offshore else

and some of it is ending up in from middle a man's in the tory party coffers. and so the question lat raises. it's weird. there's the money that goes to detroit arctic. com tron and this is the question that the baby see yourself are raising. now, you say afraid of vladimir putin, i presume you mean like people like her. what can you can, who is wanted in russia, and these people are wanted on charges of corruption back in russia, yet they come over here apparently, and well. well, they admit no wrong doing then bankroll, i mean the names are dominant. rab richie soon act morris johnson. these people have benefited from money that can be extrapolated back to, well, as was the russian government might say stolen. who knows? to work with a problem in secrecy. it's a serious problem for politics and word. so in the same way that russian money adds up in the u. k, venezuelan money ends up in spain. and the money from venezuela has clearly been misappropriated because it's in hundreds of millions and it ends up in spain and the crash and, and this in, in, in the u.

— booster, boris johnson at the tory party conference saying we are going to the _ party conference sayingit is— garden? it is not, it is all rotting and it is extremely worrying. we will finish and it is extremely worrying. 2 will finish with tips for long life. the sunday telegraph has a story about a village in the kent downs and it is a place where life expectancy is the highest, for women it is 95 in detling. they have a year old woman who said it is a good busy life, and i have a glass of rose every night before bed. and another resident has said, my motto is if a door opens, go through it, if an opportunity comes up, take it. what are your secrets for long life? a glass of rose before bed is very nice idea — a glass of rose before bed is very nice idea if— a glass of rose before bed is very nice idea. if you can stop at one glass— nice idea. if you can stop at one glass that — nice idea. if you can stop at one glass that is probably sensible. i think— glass that is probably sensible. i think there may be something in the at detling _ think there may be something in the at detling. i

hope you are holding up well at the tory party conference.ve johnson potentially picking a fight with business. what are the details? >> businesses say they are being left to deal with this political decision. the chancellor and the prime minister have been pushing the benefit from higher pay, higher investment after leaving the e.u. the labor shortages are just growing pains en route to becoming a more productive economy. it is a very risky strategy. most of the country was on furlough and were paid 80% of their normal salary. when you take inflation into account, average weekly real rages actually -- real wages actually fell. they are urging the prime minister to change the immigration rules to ease the labor shortages. you have business groups saying the 5000 visas they granted for e.u. she drivers is like pouring a symbol of water on fire. the government only has received 127 applications from fuel tanker drivers wanting to come to britain so far. they are trying to work out how to avoid shortages at christmas. chancellor rishi sunak did

party conference. this week. the tories, a leading and polls just white, an energy crisis, one of the highest per capita, deaf tor covered responses and welfare got to the poorest. we follow the money and 24 hours ahead of lawrence johnson's defense secretary speech at the tory conference and following defeat in afghanistan is the u. k. importing taliban style attacks on freedom to impose british government values. all of them all coming up in today's going underground. at 1st, it's political conference season here in britain, but as morris johnson writers speech for this week, brittany seemingly facing crisis after crisis the army brought in to solve the car fuel crisis, energy companies going bankrupt, allegedly on trustworthy transport. companies having to be brought back into public ownership and johnson having to subsidize a c o 2 company to keep beer flowing. who better to follow the money with the north, prem sicker arch critic of structures of financial regulation here in britain. thank you so much for coming back o

the tory party donor involved in a russian corruption scandal. we have a special report., feeling the heat... the nobel prize winners who worked out how our bodies respond to warmth and touch. and coming up in the sport on bbc news channel: welcome back, claudio! watford appoint ranieri as their new manager after sacking xisco munoz on sunday. good evening. the chancellor, rishi sunak, has defended the government's recent tax rises, saying funding an economic recovery after the pandemic, "comes with a cost." he also said taxes could only be cut when the public finances are on a "sustainable footing," and borrowing more money would be "immoral." the comments came in his first speech to a conservative party conference in person as chancellor, where he also insisted brexit is in the long term interests of the uk, despite current challenges. our political editor, laura kuenssberg, has more from manchester. you're not going to get in there. can people start moving, please? no one wanted to give up a place in the queue. they weren't listening because they wanted to hear. standi

so you had 1st hand experience of this prevent strategy supported by their labor and tory parties over the years. and how did it help inspire you perhaps to write this book? i'm well, yeah. all right, thanks very much. i was, i was teaching is the same teaching in a lot. so the store i was working in became a focus for the present strategy in around 2015. and it seems immediately it seems the problematic that we were being briefed on how to identify young children as potential future terrorists. i mean, it seems, seem madness to me or what i mean. so i was teaching the secondary school, but we got documents and examples of, you know, children and children even by prevents, you know, 6 or 56 i'm year olds. and it's just as madness is based based on the idea that some people's political views. my act as a, as a, as a useful for predict detracts and violence. which is called the logic of how democracy works. okey the wrong way around this isn't logic in a democracy. it's enabling express views that might be outside of the norm. that means they don't have to resort to. so i've been writing

unrealistic, and let's not forget, you know, this poor man use to have his surgeries in the local tory partythere was next to no security, because he wanted to do hisjob properly and he wanted to do hisjob properly and he wanted to do hisjob properly and he wanted to be seen talking to the people. white necked anthony mentioned earlier this uncertainty about whether lady amess was there are not. they did have a kind of routine security measure which is the visitors were asked to give a name and address to this constituency staff at the door of the charge before they were allowed in and presumably this man had to do that, but it is a fairly obvious, you know, a fairly simple check, it's not really anything, the person who is going to do that is probably the present was not going to give you their real name and address, and anybody else gives their real name and address is probably not a threat. they said that we need to look at security and the stick of house at the same thing, and clearly they do. everyone needs to have a discussion about this, but possibly one of the things that they will s

school teacher, so you had 1st hand experience of this prevent strategy supported by the labor and tory parties over the years. i'm how did it help inspire you perhaps to write this book? i'm well, yeah, thanks very much. i was, i was teaching the same teaching in a lot. i mean it's so slower, i was working and became a rent strategy in around 2015 and it seems immediately it seems to be problematic. we were being brief on how to identify i young children as essential future terrorists. i mean seem madness to me. a 100. i mean, so i was teaching as a secondary school, but we don't examples of, you know, children and children, even events, you know, 6 or 56, i'm year olds. and it's just as a man, this is based based on the idea that the people's political views might act as a, as a, as a useful for predicting detracts and violence. which is called the logic of how a democracy totally the wrong way around. this is logic in a democracy, it's enabling or express views that might be outside of the norm. that means they don't have to resort. so i've been writing about rent in place only, all that by

is there a feeling that the tory party has moved away from being the party of business at least for nowty of business at least for now? , . , , for now? is really interesting. toda 's for now? is really interesting. today's speech _ for now? is really interesting. today's speech was _ for now? is really interesting. today's speech was very - for now? is really interesting. today's speech was very big l for now? is really interesting. | today's speech was very big on bluster and banter and jokes and not much policy but he did have some big themes there. but it seems that his major theme on shifting away from what he called a low skilled, low—wage economy and diversity migration, to high skill, high wage, using british workers is actually going down very badly among businesses, even business leaders who voted for brexit. as a time says tomorrow, they are very critical of the fact that they feel like they are being used as a sponge. the head of one centre said. to basically soak up the rising cost it will be inevitable when you restrict migration on the one hand, you were going to get the

of this as well as this latest announcement comes as the conservative party are hosting at that tory party conference. and right of the crux of it are the conservative manifesto pledges. for instance, at the u. k. is really trying to position itself in this post breaks at britain on an international scale and has long described itself as a global britain. and all of this cybersecurity really plays into that very much aligns with that mission, which others in government singing from their say same him sheet. the national cyber force will help confront aggressive behavior from malign actors and demonstrate that britain is investing in next generation defense capability. to protect help people and help our friends count as cyber threats. so just who all these so called hostile states that the u. k is trying to make aware of a makes gad of, in fact, they're talking about states like russia and china, or of course. and it seems like the u. k. really wants to try and wave some sort of cybersecurity war with these so called hostile states. under the guise of the best form of defense is attack. jo

is as proved incredibly embarrassing and tories in the house of lords have objected to this, the tory party has objected to the they're beginning to pull back up. but you know, this again is just an example of the kind of chaotic and very difficult to understand politics of this, of this government. but it's, but it's cost of this package of, on the $1.00 hand, contracting the economy. on the other hand, you know, doing a you turn on aid to low income countries and certainly just ignoring the security threat to the british people of climate break. doctor, an extraordinary thing is that in the opinion polls it is still maintaining public support. i'm heather. thank you. that's over the show will be back on monday when we discussed cop 26 with britain's former climate change minister and 11 years. it was sort of a month. when wiki leaks, julian, the sons published redacted hundreds of thousands of us diplomatic cables, detailing deceit on a global scale until then, keep in touch by social media. let us know if you think this means london. such court hearing was a u. k. sponsored show trial ah

comments from david davis, they were made at the time just last week at the fringe meeting at the tory party conference just last week. he was talking about all sorts of things throughout, at the pandemic, the government's handling of it, the restrictions put in place, also vaccination passports as well. and he was arguing that the government has these draconian actions that failed to actually achieve their aims. now it didn't seem to be anything too extreme, but you chief thought the absolute opposite. in fact, contacted big brother watch, which was the company that uploaded the video in the 1st place, telling them that they were taking it down. now that is a decision that they have since reversed due to all of the upper all. we quickly remove electrical intended violates our community guidelines including coven, 19 content that explicitly contradicts extra processes from local health authorities, or the world health organization. with millions of hours of videos uploaded on our site each day, sometimes we make the wrong coal. now it looks like the point of contention is about the vaccinati

as well as the grand hotel bombing that the hands of the ira in the city of brighton during the tory party conference one year. but this will surely reignite jonah that debate about whether british and peas should have, i guess, armed protection with them when they do these twice a month, constituency meetings. it was a debate that flared up after joe cox's killing in 2016 and will no doubt. as you say, once again, you know, when they're on the parliamentary estate, when they're in parliament, when they're doing that end of their jobs, these empties. they are very heavily protected by police. indeed, one on police officer was killed in an attack on parliament on the parliamentary estate in march, 2017. threats to politicians are nothing new. and yet when they leave the parliamentary estate there afforded no protection whatsoever. and when they go about doing their jobs inside their constituencies that involve these open door meetings, face to face meetings, anybody can walk in, no security is involved at all. indeed, that is an absolutely key part of the work that they do of the political

it was modeled on the british organization which was part of the conservative party like the tory party but it rich between the policy world and officeholders. he tried to be something like that within the republican party. >> was on it 10-point scale a group of liberals inclined republicans didn't entirely? >> young and practicing or whatever. it was actually starting in 1962 and when kennedy was assassinated. they said what are we all about and what should we do and we found a name for ourselves which is in wisconsin where the republican party was founded out of a bunch of prior organizations of the know-nothings and such so that specific deference to the founding republican party. >> way of the disadvantaged of not being able to see it but i showed it to you earlier, a photograph. i see david young who became a white house colleague. >> it was one of those moments in time. >> i think of this is when the power went to your head. this was like the "vanity fair" treatment. is that you in the program? p it was a bunch of different institutions. >> another one of your founder members was

the big tory party donor involved in one of europe's biggest corruption scandals.

speaking to the bbc ahead of the tory party conference in manchester, borisjohnson admitted there wouldshortages for the rest of the year. mrjohnson also defended the government's record on the public finances�* and promised he would not implement further �*unnecessary tax rises�*, after increasing national insurance to pay for the nhs and social care. 0ur political correspondent nick eardley is at the conference in manchester. hello again. it was quite a lively exchange between the hello again. it was quite a lively exchange between the prime hello again. it was quite a lively exchange between the prime minister and andrew marr this morning. goad and andrew marr this morning. good mornin: , and andrew marr this morning. good morning. from _ and andrew marr this morning. good morning. from a _ and andrew marr this morning. good morning, from a now _ and andrew marr this morning. (emf. morning, from a now sunny manchester. it is one of the interesting things about this conference that although you have got the slogans in the background about building back better and getting on with the j

alongside a photograph of borisjohnson arriving at the tory party conference in manchester, the sundayims the prime minister will cut the number of countries on the travel �*red list�* from 5a to nine. borisjohnson is boris johnson is apparently promising borisjohnson is apparently promising to take big decisions to ensure every part of the country emerges a stronger from the pandemic. but a group of mps have broken ranks. morning the pm he cannot level up, while raising taxes for working people and cutting benefits. the mail reports boris johnson is planning new legislation which could see activist face up to six months or prison or unlimited spines. — — fine. joanna and anne, lovely to see you both. we're going to start off with the lead story on the front page of the observer, the everard case. the front page of the observer, the everard case-— everard case. yes, i think with this inuui , everard case. yes, i think with this inquiry. it's— everard case. yes, i think with this inquiry. it's going _ everard case. yes, i think with this inquiry, it's going to _ everard case. yes, i thi

unlike borisjohnson who usedit song, unlike borisjohnson who used it as his walk on music at the tory partyns every year. it is a classic move, a politician's team picks a papular_ politician's team picks a popular tune, politician's team picks a populartune, plays politician's team picks a popular tune, plays the popular tune, _ popular tune, plays the popular tune, the — popular tune, plays the popular tune, the band says, i don't like — tune, the band says, i don't like this— tune, the band says, i don't like this politician, gets

what you need is regulation and i think some of the discussion that's been going around from the tory partyg about stopping online abuse, well, the difficulty becomes, what are you to finding —— defining as amplification algorithms? pretty much anything that people post gets looked at by an algorithm. if you say they can't amplify, such that you are saying they have to switch the whole thing off. i think you have to go through different options. my own suggestion is that you actually regulate so they can't be bigger than a certain size. because that puts them ? might put an immediate cap on the amount of annoyance that could be caused. i of annoyance that could be caused. i suppose the difficulty when you cut a multinational social media firm is, patchwork of regulation, if you have different laws in the us to laws in the uk to the laws in europe, which standard do they meet and how do you apply that across different users to interact with each other across those international borders? ~ �* international borders? well, we've already seen _ international borders? well, we've already seen wit

from friendly fires to use that song, unlike borisjohnson who used it as his walk—on music at the tory partyin manchester this week, and the band said, we didn't approve it. which is actually, laura, a staple of conference coverage, isn't it? that basically happens every year. it's a classic move. politicians' team picks popular tune, plays popular tune, hip band says, "i don't like this politician," gets cross about it. a standard story. was itjohnny marr saying, david cameron, stop saying you like the smiths! ijust don't like him. laughs. yeah, standard. but if you're going to have music every week, what kind of vibe? what kind of thing? "roar" by katy perry. that's my warm—up, i play that in my head before every episode anyway, why do you think i'm so full of beans? right, more beans and less music on this edition of newscast. hello, it's adam, in the studio. and chris in the studio. and it's laura not in the studio. and we're joined by former housing and local government secretary robertjenrick, who is now sadly no longer in that job, but it does mean he's free to come on weirdly—timed t

saw the prime minister walking through that specially constructed auditorium, surrounded by the tory partythe first time since the general election of 2019 when we finally sent that corduroy communist cosmonaut into orbit where he belongs. and why is it that we are back today for a traditional conservative first match? it is because for months we have had one of the most open economies and societies, and onjuly the 19th, we decided to open every single theatre and every single concert hall and nightclub in england. —— a traditional conservative cheek—by—jowler. we knew that some people would still be anxious, so we sent top government representatives took nightclubs to show that anyone could dance perfectly safely, and wasn't he brilliant, my friends? let's hear it forjon bon govie, living proof that you all represent the most driving, hip happening and funky party in the world. and how have we managed to open up ahead of so many of our friends? you have we managed to open up ahead of so many of ourfriends? you know have we managed to open up ahead of so many of our friends? you know the a

short term it will mean a hell of a lot of tax and whether that will sit well with the rest of his tory partyis is where he's going. tony, how are you reading what the inner grumblings are at conference week? at inner grumblings are at conference week? . ., ., inner grumblings are at conference week? ., ., ., , inner grumblings are at conference week? . ., ., ., , ., week? a lot of tories are understandably _ week? a lot of tories are understandably happy - week? a lot of tories are i understandably happy about week? a lot of tories are - understandably happy about the rising national income after april? borisjohnson will be long gone by 2025 -- 2035. it is borisjohnson will be long gone by 2025 —— 2035. it is another one of his fantastical ideas like the bridge built to aaron which will —— which got shelved. you know, i can't really see how it is going to be achieved. i think this isjust really see how it is going to be achieved. i think this is just a thing that he says and then he moves on. it is very much in the context of the climate site that is happening in glasgow. you're not going to

dani: here in the u.k., the tory party conference kicks off, where tom mackenzie will be there. energy prices will also be high on the agenda there. with pressure building over those fuel shortages and living costs, they are set to announce a 500 million pound expansion of britain's job program. we will stick on this theme from reflation to stagflation. we will discuss heading into the final quarter of the year with our guest. that is next, manus. manus: plus, we speak with a guest about the open -- the opec meeting today. this is bloomberg. ♪ >> inflation is not going down. inflation is hot. if you do the pure statistical calculation, it is very unlikely we will get to the target. they will be revising the target up yet again. inflation is a global issue. but i call them stagflationary winds, because they need not result in a stagflationary track if you get a policy adjustment. dani: hot. mohamed el-erian on inflation. how big of a threat is stagflation? let's us that question to fiona frick. i know this is a topic you have been paying close attention to. thank you for joining

speaking to the bbc ahead of the tory party conference in manchester, borisjohnson admitted there wouldfor the rest of the year. mrjohnson also defended the government's record on the public finances�* and promised he would not implement further �*unnecessary tax rises', after increasing national insurance to pay for the nhs and social care. our political correspondent, nick eardley is in manchester. he nick eardley is in manchester. has been monitoring prime he has been monitoring what the prime minister had to say. good afternoon, borisjohnson wants to use this conference to start talking about his strategy for the uk after the pandemic, you can see it in all the pandemic, you can see it in all the signs plastered around this place, getting on with the job, the signs plastered around this place, getting on with thejob, as the conservatives put it, but at the same time there are still some real—life issues which are dominating the questions the prime minister is being asked ahead of this conference, big questions about the cost of living, big questions about the end of furlough and the

a lot of it depends -- i went to the tory party conference. there's a divergence between the apparent competence of the government and its poll ratings. a lot of that has to do with choice. if people don't entirely love the tories and they are worried about how competent they are, but they don't yet trust labour. that is probably the strongest thing. i think you will see slight more tax on labour. the other bits which came through that interview is i think boris is slightly reconnecting with the people who actually contribute money to the u.k. economy. there's a massive focus on things like fishing that generate just $800 million of money to the economy on a yearly basis. finance, city insurance, the business of guy johnson, they contribute what are times what fishing does. by most measures, boris johnson has probably spent 10 times more on fishing than opening up europe to the city. guy: keeping that wound open certainly maybe helping him politically this part. john: he did actually use a rather unpleasant word about business in the brexit ca

the tory party conference, the conservative party conference officially underway. berkeley's -- barclay's chief u.k. economist breaking down the impact of what we are hearing. this is bloomberg. ♪ >> our recovery comes with a cost. whilst i know tax rises are unpopular, i want tax cuts, but in order to do that, public finances must the playback on a sustainable footing to the worst part of politics are driven by fear. we will do whatever it takes. i remember, over five years ago, being told that, if i backed brexit, my political career would be over before it had even begun. well, i've have put my principles first, and i always will. i believe in fiscal responsibility. just are willing more money is not just economically irresponsible, it is immoral. guy: sunak saying the -- some are saying the u.k. going back to the late 1970's. rishi sunak, in some ways, kind of talking about that era, talking about what was delivered post 1979 and thatcher's view on the economy, the supply-side stock she delivered. let's go to the conservative party conference in manchester. blo

he was at tory party conference in - was at tory party conference in manchester and inquired as to whetherrrow is nothing compared to that of his family and he loved his family so much, my goodness. he would talk about his children all the time and his such obvious loverfor them it children all the time and his such obvious lover for them it was a beautiful thing to see and equally the people of his constituency. he was so passionate about southend. we would sometimes roll our eyes in a kind way about how he talked about it. part of his legacy will be that southend can be made a city as soon as possible because it is something he wanted so much. i put as possible because it is something he wanted so much._ he wanted so much. i put the same thou~ht he wanted so much. i put the same thou . ht to he wanted so much. i put the same thought to you _ he wanted so much. i put the same thought to you about _ he wanted so much. i put the same thought to you about the _ he wanted so much. i put the same thought to you about the tenor- he wanted so much. i put the same thought to you about the tenor o

the tories have always been seen as a party — economy. tories have always been seen as a party for the _ economy. the tories have always been seen as a party for the world _ economy. the tories have always been seen as a party for the world of - seen as a party for the world of business. how has business and industry reacted to this budget todayit�*s been a really crucial one. we know that businesses like workers around the country and felt the pain from the pandemic over the last couple of years. on the other hand, the government is saying they need to take more responsibility of delivering the economy that the government wants to see. a high wage, high productivity, high innovative economy. to do that you need to have high levels of investments so that there was some tax breaks in today's budget. there was some alleviation things like business rates, businesses have been crying out to have abolishment of aprons and £25,000,000,000 a year. the chancellor hasn't done that, he's made some concessions but over all when i talk to businesses t

rightly said, there are many, many high—paying jobs, the prime minister said in his speech at the tory partyductivity, high wage economy. well, you cannot do that without a sustainable and financially viable steel industry. flan sustainable and financially viable steel industry.— steel industry. can i 'ust asking about domestic h steel industry. can ijust asking about domestic bells _ steel industry. can ijust asking about domestic bells as - steel industry. can ijust asking about domestic bells as well, l about domestic bells as well, because he will be aware the head was crystal clear this morning, bills will go up for households across the country next year. is there any more that the government can do mitigate that?— can do mitigate that? well, one of the thin . s can do mitigate that? well, one of the things the _ can do mitigate that? well, one of the things the government - can do mitigate that? well, one of the things the government should | the things the government should have done is planned for having more storage. we only have about seven days of gas storage in this country comp

speaking to the bbc ahead of the tory party conference in manchester, borisjohnson admitted there woulde shortages for the rest of the year. mrjohnson also defended the government's record on the public finances, and promised he would not implement further "unnecessary tax rises" after increasing national insurance to pay for the nhs and social care. 0ur political correspondent, nick eardley is in manchester. i suppose a lot of voters are worried about fuel shortages, shortages in the shops. boris johnson trying to put it into a longer term context. he johnson trying to put it into a longer term context.- johnson trying to put it into a longer term context. he is indeed. good afternoon. _ longer term context. he is indeed. good afternoon. it _ longer term context. he is indeed. good afternoon. it is _ longer term context. he is indeed. good afternoon. it is an _ longer term context. he is indeed. | good afternoon. it is an interesting paradox, isn't it, that this conservative conference is happening when borisjohnson is in probably as strong a position politically as he has ever been. c

of low tax _ replacing the tories as the party of low tax in — replacing the tories as the his may have started happening. whether that remains to be seen, whether— whether that remains to be seen, whether that is going to stick around, _ whether that is going to stick around, it— whether that is going to stick around, it is my money the tory should _ around, it is my money the tory should be — around, it is my money the tory should be focusing more on growth here, _ should be focusing more on growth here, and _ should be focusing more on growth here, and just hearing attempts to justify— here, and just hearing attempts to justify tax — here, and just hearing attempts to justify tax hikes at a conservative conference — justify tax hikes at a conservative conference is worrying news for anyone — conference is worrying news for anyone that is an advocate of smaller— anyone that is an advocate of smaller state and a more free market economy _ smaller state and a more free market econom . , ., ., economy. 0k, daniel pryor from the adam smith — economy. 0k, daniel pryor from the

that the tories are really on their side. your party took myjob off me. confronted today, ministers can't turn their faces away. even the most polished political script can be written in a moment by what happens in the real world outside. let's go to the conservative conference and our political correspondent chris mason. an important day for ricky sunak to get his message across —— rishi sunak, did you think you did? it is sunak, did you think you did? it is interesting. _ sunak, did you think you did? it 3 interesting, rishi sunak saying i want to be a low—tech story, i want to reduce taxes if i can, but the caveat that was also a massive one, that he wants to balance the books, that he wants to balance the books, that there is going to be a period ahead where he is not going to be able to reduce taxes because he is trying to make sure that the economy stays in a stable position. so it kind of felt a bit to me like jam tomorrow from the chancellor. saying what he wants to do but not necessarily what he's going to do. let's chat this over with ali mirage

boris johnson's speech later today will give some sense of what the tory party will do around the pressuresces. in italy, a drop and in spain similar territory as well. the banks were gaining yesterday in the european session. currently energy down 0.6% despite the fact u.k. gas prices are back to record levels. utilities lower by 0.7%. the banks are taking some losses as well. red across the screen in the first few minutes. dani: we are saying markets open to the downside. tuesday met with another slump on wednesday, but major moves in the bond space is prompting some selloff in duration names. the 10 and 30 year yields are at the highest since june, while the 10 year gilt yield hit the highest since may, 2019. let's bring in mark dowding, cio / senior portfolio manager, bluebay asset management. moves could continue with the removal of accommodative policy, but a deeper risk selloff is unlikely. thank you for joining us this morning. what we are seeing in yields currently, does it make you want to take more risk off the table? mark: what we are seeing on inflation is a dynamic that is mak

could there be an ideological shift in that direction for the entirety of the tory party given that vacuume of conservative support has more to do with social conservatism than right wing economics. that is the calculation. they look at the average voter, someone socially conservative but also quite left-wing populist on the economy. we have seen this turn toward trying to maintain power by holding onto his many of those voters as possible. there are small state ideological mps, but they are protected by boris johnson's pulling lead, and people think he is a political winner. that wing of the party remains at the moment given this conference. tom: some of the guests we have been speaking to have flag risks around negotiations. how pertinent is that concern? we know the europeans will put forward proposals next week. alan: it is increasingly likely the u.k. government will make a song and dance, but that is a long and drawnout process that has come to a head after a couple of years. the outcome is pretty forgone the eu has not breached the protocols. there was an exchange yesterday where th

economic troubles to close out the tory party conference.pitch for a new britain no substance? this is bloomberg. ♪ >> conservatives -- it is the first time since the general election of 2019 when we finally took that cosmonaut into orbit where he belongs. we sent top representatives to show that anyone could do it perfectly safety. when i was in the hospital last year, i looked out of my window at a hole in the ground amid the rubble. they seemed to be digging a hole for someone or something. possibly me. i give you august. i know it has been a ruckus caucus. this is not just a joke. they do want to rewrite our national story. anna: that was the u.k. prime minister boris johnson showing off his comedic chops as he wrapped up the conservative party conference. his speech was heavy on jokes but like on substance on his vision for a new britain as a country faces supply chain pain, and an energy crisis. we put together deliberately a nice highlight reel. lighthearted but there were not any policy announcements to focus on. there was one our co