u. k. economy. you quote some with a 4.5 trillion pounds. in a negative contribution to the u. k. economy between 19972015. so all this tall buildings in the city of london is that a negative impact on the economy during that period? well that, that is right. and that is, i'm quoting research conducted at the university of sheffield by distinguished academics. so she looked at, we bailed out the banks. for example. the city of london is at the forefront of a tax avoidance industry, money laundering industry. many of our graduates end up working in the finance industry instead of say, going to other industries which are far more productive. i love the city of london is basically simply gambling by taking all these things into account. the academic colleagues, cheko university came up with that estimate that estimate has not been denied by the government. indeed, i have cited that in debates of the house of lords, challenger ministers denied you look at the other countries. laugh finance industry too, but it is not so dominant. i'm not against the finance industry, but what i am agai

u. k. economy. it's thanks to the vaccine rollout that we now have the most open open economy and the fastest growth in the gc we have unemployment we have unemployment 2000000 lower than forecast. we have demand surging. and i'm pleased to say that after years of stagnation, more than a decade, wages are going up faster than before. the pandemic began, and that matters deeply because we are embarking now on a chain of direction that has been long overdue in the u. k. economy, we're not going back to the same old broken model with low wages, low growth, low skills, and low productivity. all of it enabled adam and assisted by uncontrolled immigration and the answer to the present stresses and strains which are mainly a function of growth and economic revival is not to reach for that same old lever of uncontrolled immigration to keep wages low. the answer is to control immigration to allow people of talent to come to this country, but not to use immigration as an excuse for failure to invest in people

raise rates, even a quarter of a percentage points, they would throw the entire leverage, the economy of the u. k. and britain into complete parallel zation because those 2 economies in particular are leveraged incredibly by all that borrowed money that's based on this years of cheap interest rates. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. this is a settlement in multiple countries across the world saying, but talking specifically about the us right now. you mentioned obviously russia raising the rates, the u. s. u k, keeping them low or even considering cutting them. how is the u. s. approach to dealing with this phenomenon, different to other western countries. the u. s. is similar to these other countries and that they're all coordinating their central bank policies and they are all living in this dream world where you can print money forever and have no consequences. even though we know that the results of that were the mas

u. k. as speaking on the 1st day of his part, his annual conference, he said the u. k was moving away from a tired old model and towards a high skilled high wage economy. or brenda reports from manchester. dodging the manchester rain showers and the heckling of protest as outside the security perimeter, the british prime minister would be forgiven feeling besieged by circumstance at the moment. the boss johnson is not a self doubting kind of person. the ongoing cues at the you case, petro pumps, he dismissed as being largely driven by demand, rather than a chronic shortage of delivery drivers. and he insisted the u. case. labor shortages would not be sold by pulling what he described as the big lever, marked, uncontrolled immigration. when people voted for change in 2016, when people voted for change again in 2019 as they did, they voted for the end of a broken model of the u. k. economy that relied on low wages and low skill and chronic low productivity. and we're moving away from that. the concept of leveling up is a major theme of this conference and this government, the dr. re quality of opportunity, regardless of background or incoming and a redi

u. k. economy that relied on low wages and low skill and chronic low productivity. and we're moving away from that. the concept of leveling up is a major theme of this conference and this government, the dr. re quality of opportunity, regardless of background or incoming and a redistribution of investment and infrastructure spending to the regents for paying for that involves cutting, social benefits and increasing texas several 1000 anti austerity protest as may dec concerns heard as they march past the conference. when you were basically the conservative government, you're driving people into poverty at the momentum. they've taken millions of people on merlow. they're cutting benefits under driving down wages, terms and conditions where i can deeply live sunshade of the hot forest. johnson's arguments to the conference man to the water public is the principle of jammed to morrow. yes, that will be shortages of the petro pumps. the may even be shortages on supermarket shelves leading up to the crucial christmas period. but he says the u. k is in a transition period

u. k. economy to pursue the strategy that he is, is plotting and, and his sad detailing at to the party faithful and certainly within the party. delegates the scenes roared. support for that, although there are misgivings about whether the conservative party, which has been traditionally low tax pro business, is actually somehow evolving into a new kind of party with high taxes that boris johnson has introduced. and clearly higher business costs as a result of the higher wages that he wants to see her i am poor, i suppose, in a way for the population in a way. it's not about the, the long term policy. it's more about the uncertainty of the next few weeks months . well yeah, i mean, clearly there's going to be a dilemma and, and her neck contradiction if you like, between the long term strategy, the bonus johnson is pursuing and, and the need to endure this kind of short term pain. today is the day that a temporary uplifted to a social benefit called universal credit. it was an extra 20 pounds or $2

u. k. economy is struggling as supplies of food and fuel are running low and supply challenges in the u. s. where the government has been stepping up efforts to fix issues with the global supply chain, which have led to many items running low and high prices. the slow down in the struggling economy is being blamed on cops and factory output and bottlenecks at ports and white house correspondent can we help get reports from washington, dc. each year, almost half of all us imports arrived here at the port of los angeles. but right now, dozens of ships are stuck off the coast, waiting to dock and unload. that backlog has led to a shortage of goods and higher prices for you as consumers, you're hearing a lot about something called supply change and how hard it is to get a range of things from a toast to the sneakers or why she calls her bedroom furniture that's why on wednesday, u. s. president joe biden held a virtual round table with ceos from companies like federal express, u. p. s, and wal mart. to

u. k. economy, leveling up of opportunity and investment is central to the government strategy. talent says johnson is evenly distributed across britain, but opportunity is not in a country that is proud to be a trail blazer to judge people, not by where they come from, but by that spirit, and by what is inside them. that is the spirit that is the same across this country in every town and village and city that can be found in the hearts and minds of kids growing up everywhere. and that is the spirit we are going to unleash. prime minister speech was of course enthusiastically received by the loyal delegates inside especially built auditorium. but there are simmering concerns here at conference with forest. johnson is pushing this traditionally low tax pro business party in a high tax, high cost direction, and out in the wide country outside of this whole, there are grave concerns about a looming cost of living prices coming into the winter. johnson's speech came on the same day as what's being des

u. k. economy, which neither party is willing to address. and what we are witnessing in terms of chill chill to do is food yielded, is homelessness, cuts in universal credit. that is basically how neoliberalism is playing out. it is really about enriching the rich are not really doing much for the masses. and i mean, no, i know you the original bit about this, i mean say just the health care system here. the envy of the world did use.

u. k. economy, which neither parties are willing to address. and what we are witnessing in terms of fuel filter is food you to do is homeless.

u. k. economy, which neither party is willing to address. and what we are witnessing in terms of fuel shorted is for geo to does homelessness cuts in universal credit. that is basically how neoliberalism is playing out. it is really about enriching the rich are not really doing much for the masses. and i mean, i know you originally about this, i mean say just the health care system here, the envy of the world, it used to be the national health service. here is it by stealth. they are privatizing it. and is it working? this idea that you can cream people off into the private sector. now as the n h, as seems to be failing for some in this country. well, i think it is privatization mostella and also deliberately, you know, when the conservative government came to office in 2010, the waiting list was about 2.42.5000000 in england. it is already about high point, 6000000 and the whole house is, has going to it possibly 13000000 by the end of next year. and the main reason for that is lack of investment. britain is unable even to trade a sufficien

u. k. economy, which neither party is willing to address. and what we are witnessing in terms of she'll she'll to do is for you to do is homelessness. cuts in universal credit. that is basically how neoliberalism is playing out. it is really about enriching the rich and not really doing much for the masses. and i mean, i know you've written a bit about this. i mean say just the health care system here, the envy of the world. it used to be the national health service here. it is, it by stealth. they are privatizing it. and is it working this idea that that you can cream people off into the private sector? now as the n a just seems to be failing.

economy. and not only the u. k. damage to the global economy will be huge because a lot of their investments, which are easier to mark, to say merely and the global economy will have to be shifted to bay for the higher energy prices. so it affects everybody, including the global economy. i always maintained that there is a place for green energy, but the european union has been pushing for energy transition, though, or is that a new of it at the expense of oil and gas production. that demand that they put a lot of pressure on european oil companies to guy 1st of the oil and gas, as it's and has resulted in a low on investment and lower prices for oil and gas. this means, but this does not affect the global progress global demand. so it created a huge deficit between supplies and demand. hence, you know, getting oil and gas prices now to sedan. now a protest is blocking the country's main port, say they won't give up until their demands are met. members of the beach or tribe have been protesting against what they sa

u. k. have risen sharply as economies around the globe came out of the coven, 19 into slam, is creating a gas shortage pushing prices to the highest level in more than a decade. and that's raising fears over the cost of heating homes in europe during the upcoming winter. natasha go name reports as economies across europe rebound from the pandemic demand for gas is rising fast along with prices. they hit levels on wednesday, not seen in more than 10 years. that's leading to concerns of soaring bills and inflation as people heat their homes this winter. it is a serious issue. i think we have to be very clear that the gas prices are skyrocketing and her, but the renewables of the prices have decreased over the last 2 years and a stable. so for us is very clear that with energy in the long term, it is important to invest in renewables that gives us stable prices and more independence. several energy companies in britain have collapsed due to the shortages, norway and russia are boosting supplies to the european union, which is heavily depended on imports. russia says it could make record sales of

negligence. experts say it's too early to know the full cost to the local economy and environment. alixia brian al jazeera, now u. k prime minister barak johnson says his government will change the direction of the british economy and move away from what he called uncontrolled immigration. giving his keynote speech to the conservative party conference, johnson promised to end a broken model of low wages and low growth. the also to the present stresses and strains which are mainly a function of growth and economic revival is not to reach for that same old lever of uncontrolled immigration to keep wages low. the answer is to control immigration to allow people of talent to come to this country, but not to use immigration as an excuse for failure to invest in people in skills and in the equipment, the facility machinery. a pipe francis says he feels shame for the scale of abuse uncovered and the roman catholic church in france. an independent inquiry revealed on tuesday than an estimated 330000 children, were sexually abused by those within the church. as ranks of her span of 70 years decided to speedy me elevator. i

to raise rates, even a quarter of a percentage point, they were throw the entire leveraged economy of the u. k. and britain into complete parallels ation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. and that's the news on our international. the silent join me for more about said that it's time of next to it's the crosstalk. ah, with ah oh oh yeah, it has to be rash to be able to afford enzyme and find the luxury that for sure. despite having the most expensive health care system in the world, we have poor life expectancy. we have higher infant mortality. we have more deaths from treatable causes. so americans are suffering every day from it. it says if these people don't count i saw how they can choose their customers and dumped the sick so also a can satisfy their wall street investors. no parents should have to see what i saw. so if you're denying payment for someone's care, your make life and death decision and determine to

u. k. let's relegation of the economy project that the scottish cluster. i mean, this is more than just the, the loss of potentially tens of thousands jobs at with this is a always a dagger aimed at the heart of that the scottish industrial struck me what future can the b for offshore oil and gas and scotland? if there isn't a, a means of disposing the carbon darcy, what future for grains my for finally, if there isn't a method of stopping damaging emissions. so i think those are all exactly a point points exactly on target. because the whole explanation of why the westminster governments gone through this current cycle of competition is to try and take carbon emissions away from all these industrial areas around the u. k. so they're industrial areas in te side in the north east of england. those industrial areas and in holland homicide industrial areas around manchester because the u. k. thanks to the industrial revolution and burning lots of coal and then lots boil. it's a very industrial country. so those industries are to have a future. they need to be

to raise rates, even a quarter of a percentage points, they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. well, we've just been hearing about it and it is very much the term does. your next that boom bus takes us through way. we might be hearing about supply chain disruptions for some time to come stick close. this is our to ah, look forward to talking to you all that technology should work for people. a robot must obey the orders given by human beings, except where such order is a conflict with the 1st law. you're identification, we should be very careful about artificial intelligence. and the point obviously is to race trust, rather than fear i would like to take on various jobs with artificial intelligence, real summoning with a robot must protect its own existence with a wrong one. i just don't know if you have to fill out the scene

and now we've often talked, you obviously about the prospects in economy in the u. k. and it seems like when you look at this and her kind of rain, the alarm about globalization isn't the kind of what got us into breakfast in the 1st place. they were saying we want more autonomy in our trade in our economy. i actually find it somewhat ironic, the global as to now land buffering globalization because yes, there are many issues with many issues that make it not work. so with regard to the u. k, of course, yes, the more tre deals that the u. k. does. out of the autonomy that they now have, the more they're doing the opposite of what it just said, they're not putting all the eggs in one basket that diversifying that going across the globe. the e. u isn't doing the same kind of trade deals. in fact, the u. k is now starting up negotiations with mexico looking to do a massive trade deal with mexico. and in fact, the u. s. need to look out for this because it's going to be so many trade deals that you case made. they'll be back to the table as a 5 top, a negotiator with the u

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage to regenerating a lot of interest today or us republican congressman has accused twitter of censorship after his official account was suspended. not help and after he called the nations 1st transgender, 4 star general rich levine, twitter said jim banks, a count violated it's hateful conduct policy. the tweet was later deleted. back in 2018, twitter updated its policy and prohibited content rules to include mis gendering transgender individuals. now, congressman banks has lashed down his suspension, saying that calling someone who is born and lived as a man for over 50 years. the 1st female for star officer is an insult to him. my treat was a statement of fact big tech doesn't have to agree with me, but they shouldn't be able to canc

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves and an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage up next to commentary flow. as someone answered questions on the safety of the global trend of a thing that even i all back at midnight most gets on to bring the latest news updates to join us again that ah, with o is your media a reflection of reality in the world transformed what will make you feel safe, isolation or community? are you going the right way? or are you being led somewhere? direct. what is true? what is faith? in the world corrupted, you need to descend a join us in the depths or remain in the shallows. oh, dying i cried. i just had slept the whole time. i was there. no one really thought anything different. he just all thought i just didn't feel good. on the way for the surgery, his lungs failed. 30 seconds when i k

to raise rates, even a quarter of a percentage point, they were throw the entire leveraged economy of the u. k. and britain into complete parallels ation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. and that uses our coming up next to nothing to nationally, tyler documentary, stay with ah ah ah. oh driven by dreamer shapes bankers, those with theirs sinks, we dare to ask oh, dying i cried. i just had slept the whole time. i was there. no one really thought anything different. he just all thought i just didn't feel good. on the way for the surgery, his lungs failed. 30 seconds, but i killed him. i had gotten stuck with so many needles by day. there's a few points that were really the turning points that he paid to. so if you reach out here were searching new medical problems in the united states. not the doctor's holy crap. he's gonna die. oh no, he's the better. it was. i wouldn't want my worst enemy to go through that. i'm out

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage when you can catch up with more of the man himself on the cars. the reports coming up next to international team and i all back in half an hour. the latest headlines join us again, but ah, look forward to talking to you all that technology should work for people. a robot must obey the orders given by human beings, except where such order does that conflict with the 1st law show your identification. we should be very careful about artificial intelligence. and the point obviously is to race trust rather than fear a job with artificial intelligence. real summoning with a robot must protect its own existence with on the world stage. a good i'm nice guys. you're welcome to the kaiser 40 want the latest max kaiser news. i got a book coming

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallels ation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move. that's going to cause tremendous damage. us republican congress, one as acute twitter of censorship, offers official account was suspended. it happened after you cool. the nation's 1st from was gender forestall general rachel, live on a man. a twitter said jim banks account violate that fateful conduct. policy. was late to delete it back in 2018 twitter update that it's policy and prohibited content roles to include mr. rendering transgender individuals. almost one banks has lashed out at the suspense and saying, cooling someone who was born and lived man for over 50 years. the 1st female for star officer is an insult to women. my treat was a statement of fact big tech doesn't have to agree with me, but they shouldn't be able to cancel me if they silence me. they will sil

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage to vapor or not to vapor. is it really safer than smoking? is it safe at all or to investigate and moment stick with good and i was with there's things we dared to ask. dying. i cried. i just had slept the whole time hours there. no one really thought anything different. you just all thought i just didn't feel good on the way for the surgery, his lungs failed. 30 seconds, but i killed him. i had gotten stuck with so many needles by day. there's a few points that were really the turning points that he paid to. so he reached out they're researching new medical problems in the united states. not really. the doctor's holy crap. he's gonna die. oh no, he's the better. it was. i wouldn't want my worst enemy. i'm out of breath. in 29 team,

raise rates, even a quarter of a percentage points, they would throw the entire leverage, the economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position, and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. loza headlines for this hour and that's good bye from the team. and myself will leave you with the commentary exploring on also questions on the safety of the global friend of a thing. you know, ship of all of us will be with you in half an hour to guide you through the nightly news headlines to join us again in the in 30 minutes time. ah, when else shows seemed wrong when all just don't hold. a shape out. disdain becomes the advocate an engagement. it was betrayal. when so many find themselves worlds apart, we choose to look for common ground. does you repair the strategic vision for the future? what kind of relationship will it develop with china? europe stands at a crossroads will remain dependent on washington as a junior partne

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. you're up to date, more news and about certain minutes time up next to it said use use. he's with house culture now he's the i look forward to talking to you all that technology should work for people. a robot must obey the orders given it by human beings, except where such order is at conflict with the 1st law show your mind. and just in case we should be very careful about artificial intelligence. and the point obviously is to place trust rather than fear a very job with artificial intelligence, real summoning with a robot must protect its own existence with ah ah oh, is your media a reflection of reality? in a world transformed what will make you feel safer? hi sir. lation for community. are you going the right way? or are you be

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. europe today to end more news in about 10 minutes time coming up next to not have to national it's boom bust ah, so driven by dreams shaped by centers and those with dares sinks we dare to ask for, does europe have a strategic vision for the future? what kind of relationship will it develop with china? europe stands at a crossroads, will remain dependent on washington as a junior partner. or will europe opt to play the role of a great power on the world stage. and united states has to be rash, to be able to afford any time in front of the luxury that for sure, despite having the most expensive health care system in the world. we have poor life expectancy. we have higher infant mortality. we have more deaths from treatable causes, so

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move. that's going to cause tremendous damage. well, if you'd like to hear more of those thoughts, you don't have to wait too long. much and stacy are on your screens again, right after the break with the freshest of the guys are ready for it. stay with us . this is already me. the ah, join me every thursday on the alex, simon, she'll and i'll be speaking to guess in the world politics sport, business. i'm show business. i'll see you then. oh oh yeah, it stays. it has to be rash, to be able to afford enzyme, and find the luxury that for sure. despite having the most expensive health care system in the world, we have poor life expectancy. we have higher infant mortality. we have more deaths from treatable causes. so americans are suffering every day from it. it's as if these peo

raise rates, even a quarter of a percentage points, they would throw the entire leverage, the economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. you can catch up with an episode of boom bust heading away in just a few moments time. we were sounding half an hour, the latest headlines joined us again. oh, come on in . who dares sinks? we dare to ask. ah, this is them by phone vision? sure, you can't afford to miss i'm rachel blood and then i'm bridget boring. washington coming up to supply chain issues continue to hamstring. the global coping 19 recovery of the european union has now weighed in on china shortage of metal material. straight ahead, we discussed the latest turn as the energy crunch effects the supply chain. and the about the only problem for the recovery process as inflation has drifted, many parts of the world wouldn't go through the bike and whether hyperinflat

to raise rates, even a quarter of a percentage point, they were throw the entire leveraged economy of the u. k. and britain into complete parallels ation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. vaccine donations by western countries, a, feigning too much initial pleasures. so says the people's vaccine lines. as late as were food can contribute pharmacy companies and which states are contributing to jump and quality around the world with spokes her times on. mario is also the policy lead for the people's vaccine alliance. what we've seen is developing countries receiving an endless type of to be frank, inadequate justice of support followed by these broken promises. and it should be a cause of international shame. i think the biggest and the data that we release show is what we've known all along. developing countries simply cannot and should not have to rely on the goodwill of rich countries, all pharmaceutical companies.

to raise rates, even a quarter of a percentage points they were throw the entire leveraged economy of the u. k. and britain into complete parallel zation. so they've really put themselves in an untenable position. and i think we're going to see a huge economic dislocation. this is the beginning of a secular inflationary move that's going to cause tremendous damage. you can catch up with the latest episode of boom bust heading away in just a few moments time. we were sounding half an hour, the latest headlines join us again. ah.