As we have mentioned, london today will witness the pomp and ceremony of the queens speech. Thats when the British Government sets out its legislative programme for the next session of parliament. Its expected to include big plans to splash taxpayers cash, after the chancellor sajid javid last month declared the end of austerity, or government belt tightening, despite the brexit crisis. In fact, mrjavid promised the biggest increase in uk public spending in more than 15 years, as he outlined a £13. 8 billion pound package or this much in dollars. The trouble is, over recent years, taxpayers money hasnt been enough to cover expenditure, especially after the financial crisis. Total uk Government Debt is almost 2. 3 trillion, equivalent to more than 85 of the countrys total output. But the uk is not alone in taking such steps. Frances budget deficit didnt stop the government there promising 11 billion of tax cuts last month in its 2020 budget to boost investment and consumer confidence, and germany is also coming under mounting pressure to loosen its Purse Strings to help lift the eurozone out of the economic doldrums. Yael selfin is with us, chief economist at kpmg. To a great degree what is in the speech has been widely telegraphed. What is the government planning to do . We have seen quite a lot of clamour for additional spending, and its probably overdue in some ways, and we are expecting more spending on education, and infrastructure as well, other things like prevention of crime, and we have already had additional spending on the nhs, so it is likely to stay as strong as what we have seen already. A lot has been said about the amount of money this government will spend if it gets these bills through parliament, that has a big effort, they havent got the majority. But it is a lot of money, the most spending we have seen for 15 years of the institute for fiscal studies warning last week of the level of debt that this will bring. What are your thoughts on that . How dangerous is that at this particular time . Very interesting, because we are in an era where Interest Rates are low and likely to remain low for much longer, so it is a Good Opportunity for us to spend more, providing that we spend it wisely. Debt at around 85 of gdp is not the highest, where we are in the uk, for example france is reaching 100 and they are still cutting taxes at the moment, obviously germany has a little bit more room to play, so ultimately, with such low rates, you could argue for an additional spending providing it is spent wisely. So you feel right now in the Economic Cycle that we are in and also with the concern about brexit, how that is handled, what impact it will have on the uk economy going forward, this is a good time to spend . economy going forward, this is a good time to spend . I think it may be required given that we have such low productivity levels in the uk, and we also have quite a lot of inequalities in terms of regional and also peoples that are needed with up skills to bring into this new area of opportunity within the economy, so there is time to spend wisely. All right, wisely is the key, isnt it . Thank you very much yael selfin for being on the programme, and of course with the queens speech is under way we will bea queens speech is under way we will be a cross for you here on the bbc, but now lets talk about that trade war between china and the us. It would seem it is biting. Chinas exports fell more than expected in september compared with a year earlier. The import numbers were worse than expected as well. Lets go to our Asia Business hub where rico hizon is following the story. Rico, how bad was it . Well, it is worse than expected, and this intensified us trainer trade war is surely hitting the chinese economy, exports falling more than 396 economy, exports falling more than 3 compared to a year ago and there was levels of. The Customs Bureau reporting outbound shipments, particularly to the United States fell by double digits, 10. 7 . Compared to a year ago. In dollar terms in january to compared to a year ago. In dollar terms injanuary to september, while us imports dropped more than 26 during that period. Last month, there was a renewed escalation in this year long trade war between the two economic superpowers, with washington imposing 50 tariffs on more than 125 billion worth of chinese imports from september the first, and amazing hitting back with higher regulatory levels, which is why we are seeing these poor numbers in china. Despite the fall, in exports to the us, both of them still maintained an overall trade surplus of about 40 billion in september and breaking down the numbers, some economists say chinas exports will take time to recover in this trade deal, and it doesnt really alter the outlook significantly. We shall keep a close eye, thank you rico hizon, good to see you. Now lets brief you on some other business stories. Us President Donald Trump has tweeted about the partial deal agreed on friday with chinas vice premier liu he. Mr trump said beijing has already started to increase its purchases of american agricultural products. He went on to reiterate that washington has suspended its plan to raise tariffs on some chinese goods to 30 , and that the agreement could be finalised and signed soon. The son of us president ial contender joe biden is to step down from the board of a chinese company. Hunter bidens lawyer said he will resign by the end of this month from the board of bhr Equity InvestmentFund Management company. The move comes after fierce attacks by President Donald Trump. Facebooks Libra Cryptocurrency has been dealt yet another major blow. A report for the worlds biggest economies the so called g7 group of nations has said the plan must not go ahead until the company proves it is safe and secure. This comes just days after payment giants mastercard and visa pulled out of the project, citing regulatory uncertainty. The South Pacific island of vanuatu has discovered a booming new industry, one thats bringing in millions of dollars to its governments coffers. Its selling citizenship vanuatu passports, mostly to mainland chinese buyers. While many countries have citizenship by investment programmes, critics say vanuatu is leading a race to the bottom. Vivienne nunis reports from the capital port vila. A Tropical Island with low tax rates and cheaper living. It could be yours, vanuatu citizenship is available for 155,000. You dont even have to set foot on the islands to get it. So who is buying . They come in from all walks of life, but mostly people who are reputable. Vanuatu passport offers visa free travel throughout europe stopping its proving popular especially with applicants from china, and especially for vanuatus government, it has become a valuable source of revenue. We are looking right now at levels of income that are leaping from one year to the next, and increasing, sometimes doubling the financial projections that are made for each year, so the concern of course is that with the passage of time, that less care will be taken in the processing of these passports, in order to increase the amount of government revenue that we have. The government introduced the scheme after a devastating cyclone four years ago. But there is little evidence that money is being spent on rebuilding. In this village, just ten minutes drive from the capital portobello, locals are asking where is the money . This woman says her Community Wants the government to provide a running tap so the children can have a shower and drink clea n children can have a shower and drink clean and safe water. Translation i live here in a breathe this air is a Free Independent woman, living in this independent state, and having somebody that comes in to buy a vanuatu passport, the same green passport that i have, this is devaluing, demoralising. Its unclear how sustainable vanuatus Citizenship Programme will be, given widespread opposition among the local populace stopping people who wa nt to local populace stopping people who want to see a stronger economy, one built through tourism and more tangible exports stopping at the very least, people want to see the benefits of passport sales are shared among the many, and notjust a few. Thats it for the Business Briefing this hour, but before we go, here are the markets. We will take a look at the global media and what they are discussing today. I know, i dont need to tell you that brexit sparks very different reactions. The political row over whether the uk should leave the eu or not has broken friendships, divided families and the nation. If youre fed up hearing about it, youre not alone. New research by yougov suggests that almost half the country thinks its been bad for their Mental Health too. Marc ashdown has been looking at its impact. It has been loud, it has been divisive, and it seems brexit has also been bad for our health. Even politicians have reached new levels of exasperation. Pure selfishness and political cowardice. This prime minister, to talk about morals, and morality, is a disgrace 0n the streets, on social media, the debate has at times got out of hand. Now the first case has been confirmed of a man suffering a psychotic episode triggered by brexit. 0ne psychotherapist has seen a rise in patients. People get physical symptoms of nausea, headaches, people who had previous illnesses get flare ups of those illnesses. We have seen quite a few people who have suicidal ideas. New polling suggests 40 of britons have had their Mental Health affected by brexit, and 45 of londoners. Im really quite concerned. It wasnt something i had voted for or hoped for. Not good, sorry. I dont Pay Attention to that. Just too much effort. Just sort of looking forward to it being over, however that happens. The man who got seriously ill did make a full recovery. He said he was in an area dominated by an opinion different to his own, something people on both sides of the issuer having to come to terms with. And if youve not had enough, coming up at six oclock on breakfast, the team will have more on a crucial week in british politics. This is the briefing from bbc news. The latest headlines plans for life after brexit are due to be outlined in the queens speech, which will formally open a new session of parliament. Uk and eu negotiating teams are also due to meet again in brussels as efforts continue to reach a deal before a summit on thursday. The kurds of Northern Syria say theyve agreed a deal with president assads government in an attempt to stop the turkish invasion of their territory. Damascus has confirmed it will send troops to confront what it describes as turkish aggression in a military operation against the kurds. Polands governing law and Justice Party is claiming a decisive victory following the general election. Exit polls gave the conservative nationalist party 44 of the vote enough to take a majority in the lower house of parliament. Now, its time to look at the stories that are making the headlines in the media across the world. We begin with the guardian, which leads on the queens speech, which will set out the governments agenda later today. It will include proposals for tougher sentences forforeign offenders who try to return to the uk. City am has the details on the labour partys plan to renationalise. New analysis suggests this could cost nearly £200 billion. The ft takes a look at the latest on brexit negotiations, with the eu warning it might now be impossible for britain to leave the bloc with a deal. Usa today focuses on facebooks embattled cryptocurrency project libra after major partners dropped out of the plans. And finally, the times asks is banning air miles the key to curbing flight emissions . That is what the Climate Change group is advising the uk government. Mark is back, as honest. Lets talk some more. The guardian is focusing on the queens speech, on the element about criminals and foreign criminals in particular and how they are imprisoned and the fact released early. Your thoughts . imprisoned and the fact released early. Your thoughts . Ithink imprisoned and the fact released early. Your thoughts . I think it is interesting they have got this take, first of all because the other broadsheets have not run with the queens speech at all on the basis it is likely to be a short parliament. So they have continued to focus on brexit and they have sort of pushed this aside which i think is what probably the labour party would want. So for the guardian to run with the