But rather than drop in the ocean, this one is being seen as an important 1st step. To see a Newman Al Jazeera santiago, ah, hello there. This is out there, and these are the top stories. Anger at the political and Economic Situation as soon as he has grown into major protests. 1000 turned out on saturday as arrival opposition groups held parallel rallies against present k sign people and to kia all morning. The death of 41. 00 coal miners who were killed in an underground explosion on friday night president dress applied on visited the science and met survivors and vowed to bring an end to mining accidents to them concealed who has more from among the various health day. For the victims, families and for the rest were last night. And finally, the last muddy the worker was found in prisons are gone and has been found them evacuated from the side for 2 people. Most of them have been very since this morning and the families are very upset. They dont want to talk to friends, we try to get in touch with them. Russia says, 11 people have been killed in a shooting as a military Training Ground in belgrade, near the cranium border. And so the assailants were from an unnamed for miss soviet nation. They were killed by return fire. Meanwhile, rushing forth as a bond, a number of towns recaptured by ukrainian troops in a song. The military is told out there i suspect that the russian attacks on to secure air defense points. And im you mission deference but not to advance you case new chances. Jeremy hunters warning of difficult decisions ahead, including an increase in taxes. Its being seen as another blow to Prime Minister news trust orthography. It was a mistake to cut the top rate of tax. So the period when we were asking everyone to make sacrifices. And it was a mistake to fly blind and not to back up the economic plans that were announced with an independent forecast from the office, the budget responsibility. Both those things have been addressed and runs government says a fire that broke out of the evan prison and terran has been brought under control. State media says crashes broke out between inmates and guards. Well, there is the headlines. Ill have more hair off the inside story. Ah is the u. K Prime Minister in trouble lives . Trust sat her chancellor, after early a few weeks in office and reversed Major Economic policies. A turbulent start for a new government, but in a dire economic crisis, how will trust face her challenges . This is in science. Ah hello and welcome to the program. Im emily angland. The u. K. New chancellor says he didnt vote phillys trust and but supports her economic plans. Jeremy hunt was appointed on friday after trust sacked, his predecessor kweisi quieting just 6 weeks into the jump. His tax cutting a mini budget financed through billions in increased borrowing lead to outrage and protests. The pound immediately fell to its lowest level against the us dollar. The bank of england was forced to intervene and buy up government bonds to stabilize the economy. And with increasing pressure on the Prime Minister this trusted another you turn on friday. She announced Corporation Tax would rise from 19 percent to 25 percent next april. Rather than staying at the current level as promised by quieting in his mini budget. Andrew simmons has more from london. So another chancellor has moved into 11 downing street, jeremy hunt force in only a 100 days and a situations thats extraordinary in british politics right now with less trust, the Prime Minister having only served for just over a month, fighting for her political life. Why . Because she promised what, perhaps she could not deliver simply because the markets dont agree with whats going on. Theres no proof that the money can be paid back the money that she wants to use for tax cuts. And so weve had to you turn so far, but now something much bigger than that because the markets and are waiting on what this new chancellor has to say. Hes working the weekend, the treasury offices trying to work out a means of cutting back in many areas and trying to give in some others. But really hes going to overturn the whole of what lives trust was promising all along. Its very clear thats going to happen. He did give tacit support in his round of media on saturday morning. But in essence, he was talking about raising taxes and reducing debts where he can, he may actually also make cuts in a whole bunch of allowances and various departments. It is a situation where bile is trust is not really going to get the recognition for any credibility she may have left. So the conservative government is looking for another leader. Theres no doubt about that. The question is, could it lead to a general election . They dont want that, could they just install a caretaker, government, a caretaker Prime Minister, and basically say las truss good bye. They couldnt pressure her to go. So right now, a new chancellor who has to convince the markets and a Prime Minister fighting for survival. Andrew simmons inside story and we have reaction from the u. K. Labor party. Later kids stand and says, a change of government is needed. And the still one person, clicking on the Prime Minister no doubt will have plenty of czar football excuses in the coming days. Off to 12 years of stock nation. Thats all her party has left. But even they know she cant fix the mess that shes created. And deep down, her emp pays no, something else. They no longer have a mandate from the british people. Ah, lets bring an, i guess theyre all joining us from the United Kingdom in that manchester of cell con, a live a member of the British Parliament and a former member of the European Parliament in london and pet for an economist. And also of the case for the grain and new deal, and regulate, advises governments and from bonus. And tobias ellwood, a conservative member of parliament, and share of the u. K. House of commons defense select committee. A warm welcome to each of you. Thank you for joining us on the program. I want to start with you to bias simply will lead trust be Prime Minister this time next week. Well is no doubt about the way you frame that question. Its been very difficult the most difficult summer. I can remember in politics, but this experiment that she put forward to have on cost of tax cuts clearly did not sit well with the market to didnt sit well with members of parliament and didnt sit well with the public. And shes had to learn the hard way that we need to go back to something a bit more progressive, inclusive. And so im pleased that its, though its been very, very painful. Indeed, we now have a new chancellor when the platinum pulling out a new economic direction. I know that too soon. And in my, my opinion we had a leadership contest which aust, poxy membership, the direction of travel. And thats the way they wanted to go. I, i dont believe if we have to replace a Prime Minister again. We should have to be courting that membership in this way. It should be m p s to decide the future direction of travel. So we can tease out the portfolios. We can tease out the parameters in which a new Prime Minister may want to go and we could have avoided a lot of pain that weve experienced in the last couple of months at the opposition has a completely different take. Their calling for a general election is that needed . Why been . So because the bottom line is this. So the problem is where you know the hard from this is not of our governing effectively the government. What we have seen is the chaos, the last 10 years. The lowest growth, and here you have a list who was joined in the way the chancellor and when she got into trouble with the kind of a policy. And this is only one of the boss is trying to say, next question is the Market Forces confidence. And the true, i can see how do we have a company and i do want to get to the economic fall out in just a moment, but to buy if i could just get you to react to f. So as he said, trust in the x chancellor designed this budget together. How come she gets to stay and he has to go. I mean that is part of the entry system, but we shouldnt dismiss the fact that its been. Shes concerned amongst back benches, including myself. Im pleased to see jeremy hunters now joined the team. Hell provide his Economic Outlook on the 31st of october and that is the process that is our system. I hit labor calling for the general election. We call for general lex when gold brown came in. Dont forget, hes the one that sold out gold at the wrong price at the wrong time. So you know, decisions are made all the time, which on reflection you might want to do differently. Ultimately, lets see where things go with jeremy han with the statement with the new economic bottle. Thats the best direction forward at this moment in time. The idea of seeing how things go to bias, the British Public didnt necessarily vote for trusts or her policies. Why should they give her that time . Again, that is the british model here. You dont vote for a Prime Minister, you vote for a party to be in government. We dont have a president ial system in this country. This is nothing new. It comes up every time a Prime Minister is replaced while in office. And like i said, i dont believe if we did this again. We should adopt these rules where we go to our poxy base and ask them because they have a very different outlook. But m p s that we do looking at the next general election itself. And i think that applies to labor as well. It was actually william hague, who introduced the rules. Margaret thatcher was replaced not with the membership by m p. s alone. So we go through this process again. I believe it should remain in house with the members upon it with the Parliamentary Party f sell your reaction. I think we have is mostly the confidence that not to market. And i think could be what you have. The chancellor was giving a different direction and you have a crime, mr. Was fun going around the direction. So the be the whole tension between the 2 forces that we have in government and that is a problem. So you have a history where you ended up before chancellor in 4 months. How do market constant is that . And then when you look at whats happening, i think the loss of the country to day for, you know, just tell you the chancellor will do, i think ultimately the need to do the best that its actually that are gonna election. But for the people of britain, decide, press government, the government to buy you it smiling or snacking there. Thats certainly not your opinion. Well, as i say, its always the call of the opposition party. When the government is in trouble. When theres a change of leadership, lets have a general election. Ive just admitted and made it very, very clear that we got that economic model wrong. That this i did is find a high approach to reducing taxes in isolation because of britains global position. We are subject to economic International Economy headwinds, which we have to bear in mind. Were going to ukraine for example, they need to be factored in. So its quite right that we do this economic adjustment. We have to wait to see what jeremy hunt is going to do, but hes made it very, very clear. Theres probably possibly going to be a rise in taxes. Were going to reverse the changing Corporation Tax. Weve already seen that change in the 45. 00 p tax rate arcs to see other changes to which will be to the liking of the market. I didnt date to m p, s entity, britain as well. So now isnt the time to hold a general election . Well, lets bring in and pitiful. Now, speaking of the economy, how wrong did they get it . And how wrong did the tories get it in terms of their, their economic model. So thank you very much, but the point is this, the how much the toys and they want to clean up the political fee and how ever rufus say all about changing up the mess. Its been a politically, its much, much harder to do anything about the deep scars in the british economy that have been, that are a consequence of this role policy making this wreck this i have to say, im holding it by the, the image of the very casual chance the strolling down the street and flinging a good, i havent grenade into the Global Capital markets so. So carelessly, so without, without awareness of consequences. And so the scars from lack of mistake, a very, very deep and will take a long time to bend. And when i say scholars, im talking about the 5000000 people in britain who again have to face increase mortgages of higher rates of interests in the next. Yeah. Right. Thats an awful lot of people. Thats families. Those of people who are going to have to cut back on they spending by, i dont know, 600 pounds a month. Thats going to impact that a seriously on them. But also in an aggregate terms, its going to be data g, further damaging to the economy. And this damage isnt something that happened 3 weeks ago. Weve had catastrophe, shock of to shock. And so the, the, the, the contest free which that was the 20079 crisis was a direct result of the higher king hi, akin de regulation model. That mistrust is so proud. All right. The regulation is what led to reckless activities, International Financial system and gave us that shock. And then when that shock scarred our economy very badly, just born decides to deepen the damage with austerity. So weve had 12, yes, of course therapy, thats be faxed to mistrust. And indeed, far as johnson for johnson was elected on a mandate or reversing austerity of leveling up, not leveling down. And miss truss was actually going to level down by cutting taxes for the rich and hammering the poor with deep austerity with refusing to increase benefits align with inflation. So it, you know, the poor british economy has been handed of the last 12 years. And its not surprising, therefore, that the markets have no confidence in our ages. And may i say this, the markets are demanding austerity what theyre demanding is prosperity. They want to see fully proven they will see people innovation jobs. They want to see people with decent income said generate tax revenues for balancing the books. If you, if you over peoples wages, which is whats happening now. You know, wait, wait is being forced down. You low income and therefore you low a tax revenues and therefore you worse than the budget deficit you dont improve. So to buy, thats 100 you know or 30 indeed, and i just want to buy or can jeremy behind the ship what i lost not that was missed over that. I mean, youve got cove it that added 400000000000 pounds to the, you know, the, the books that we had to pay off. You then have the actual headwinds of ukraine, which we could do much more to reduce inflation because of those grain ships and coming out of a desa for example. But ill say youre right about Interest Rate because br britton was wanting to borrow more. Now you can borrow less, weve made that very clear. You change the Corporation Tax, its 18000000000. 00 pounds. Thats now been now been found. So we will see Interest Rates. Yes, theyve gone up. They are potentially likely to come down as well. What the markets want, in addition to those things that you were mentioning, its stability, its predictability. And thats what were now going to get back to, but absolutely broad. Ill put my hand up and say, we go through a lot of pain to get that. The bottom line, what so we havent had productivity grades in this country since 2008. So the modeling that weve had, whether it be georgia, whether road. So what this trust was trying to do if i can finish is actually try to provide a more radical approach, which i didnt agree with. But she did. And now the other economists were driving her on to say it was yes, its sort of that higher approach of absolutely unfunded tax cuts, thinking that they would pay for themselves that clearly in todays day and age with the economics choice weve, weve faced, that was never going to happen, ok, i want to get and to jump in there and respond and then i would like to bring in f cell after that. So, and if youd like to briefly respond, what i think, you know, what covert showed us is that the fiscal response, fiscal policy is subordinated to the really, really urgent policy of having to deal with a shock like cove it. And equally today, fiscal policy should be subordinate to the broader objectives of creating a reinvesting. And if we have low productivity is because we have low levels of investment. Now the back of england is insisted on wrapped up the Interest Rate that is going to discourage investment and we need more investment in people in infrastructure. We particularly just because if they say climate breakdown, we need to transform our infrastructure systems, transport, energy, and so on. In order for us to survive, the next shock thats coming, which is a climate and by a diversity shock. And so that we need investment. And what were getting now is the reversal of investment high Interest Rates as a discouragement. Both of public and private investments is not good to be very bad, so the should call me as well as of course not be preparing us for the big crisis of climate break app. So what should the u. K. Be doing it this critical junction a clear and weve been asking them to ask you about asking them through this many, but you can simply go around spending 60000000000. Theyre trying to borrow this and then giving that money also too much money to the rich people. The idea that youre getting more money is going to help the doesnt make sense is the who knew them or how and what theyre going to give them. What they do is put that money in the bank. But if you give it to the rest of their whole, i can send it economy to go. So i think this is going to lead to book, and i think weve given the idea of making sure that youre in full text on those companies who is making billions from rest of us that go with tax. Thats the best way of doing it. So i just think that having a totally wrong again and again, and one of the other thing i would say is, you know, if you look at the history, you will find that look, that has been difficulties. But its how you deal with those difficulty, which is the key and the history you will see whether its a then move it immediately and tested it with disco receipt again. And again, this is going back and then the damage happened. And then to do the thing they should have. Well, lets look at the cooperation tax, jeremy 100 said he will increase it to 25 percent. But to by say, still going to be a giant black hole. Hows he going to make the sams add up . Well, thats all we have to wait for the 31st of october. What he has done is taken away some of those red lines if youd like that or used to say that were not gonna look at Government Spending and looking at more efficiencies and looking at raising tax as well. So it is a more sensible approach which again the market will like so we have to wait the 31st of october, but what we are going to see is more fiscal responsibility. And it says one thing of the conservatives of always been very, very proud of up until this moment, of course, has about fiscal responsibility. And thats why its so critical for us to get back and repair that reputation. And where does this leave the u. K. In absolute, let you respond, sorry to my before i want to make it to this not vacant now the still for the financial statement, but theres a chaos taking place in the financial markets. The sensible thing to do would be the many by far the statement having that gap is what was also the uncertainty and whats going to happen. I mean, i would like to survive play while i was absent and it would be nice to have those that statement brought. Busy forward i think we now give jeremy hunt a little bit of space for him to do his homework. What were seeing here is a radical change in direction. What we had during the summer in the build up in the contest. And then indeed in the last few weeks, so i think we owe its jeremy to give him the space in order in order to do that. But already, im afraid i disagree with seeing the market settle. Were seeing a sense of stability coming in there. Well look at the chest as to why we will have a better clarity about that on the 31st of october. But surely, and if i can address this question to you, we need to give jeremy spaces to by says, but surely the u. K. Public deserves samantha is now given the uncertainty that has ensued over the last 6 weeks or so. Exactly. The question is, you know, the question facing public is hardly cope with our energy bill. How do we cope with the cost of living crisis . How do we cope with our mortgage bills go up . How do we cope with the fact that we actually, you know, with those stairs he and rises in Interest Rates and the lack of investment . Were going to have a question about employment or unemployment. So the uncertainty for the British Public is really intense, especially for families. And somehow or other we, we cant just regain the confidence of the markets or the confidence of consumers by simply shoveling, changing the tech has a few like on the same to ship. There is some thing about this government which is deeply unstable and people dont believe that simply switching chances is go to stabilized, stabilize things overnight. Im very worried about the bag convenience determination to just carry on raising Interest Rate. And its that bubble out which is causing disruption, not here just here in britain, but globally, the central bankers, all of them technocrats, none of them elected, none of them accountable to the people of britain united states. So europe are getting ahead to fight inflation to fight high energy and food prices, which have got nothing to do with central banks, but a global that they dont. There is not, those prices are not fixed here in britain. They fixed in the chicago market. Sorry that the Chicago Mercantile Exchange see to me so. So the idea is a tensile bank who can manage those prices by rac to take up rates in my view is deeply damaging, not just the base economy a to the rest of the world. And those problems will still be facing us on monday when we have a new chancellor. All right, well were about to wrap up the show, but id like to ask you all briefly. Leaves trust repeatedly stressed in her press conference on friday that the public wanted stability to buy. So start with you, whats your message to the u. K. Public . Lets listen to jeremy hunt. We also need to make it clear from a conservative perspective. We call it have experiments like this britain does well under conservative government, what its a one nation approach. When we have a centrist approach that brings together the strength about parliamentary policy from all sides of the you know, the both the, the left and the right of the party. And what this trusted at the beginning was to just get all, you know, those in the right of the party were given the jobs. Weve got the hard way. We only have one song to get it right. Were changing the direction we need to add to that the political direction and finally the international direction as well. Theres a gap in the market for international leadership. And i like to see britain step is that the tackle the oil gas, and indeed the food crisis that we say, all connected to Eastern Europe and indeed ra hand fcl. Just a brief comment from, you know, call me when briefly the pointing up to the right, the people walk ability but the hard pace. While we had from the tory government to decades, the buyers will have the lowest growth in the history. And still there was one produce cuts, revenue, 50 year after year coastal republic services. I think people are sick and tired. We need to do about that. We need to have a good election. Ok, well, we have to leave it there, but we appreciate everyones thoughts. Thank you to all of our guests, s l con and pitiful and to buys l would. Its been a fascinating discussion. Thank you to for watching at home. You can say the program again. Any time by visiting our website, al jazeera dot com, and prefer the discussion go to our facebook page, thats facebook dot com, forward slash i j inside story. You can also join the conversation on twitter. Ill handle is a j inside story. For me, emily anglin, and the entire team here in the ah stories of hope and inspiration, shook documentaries from around the world that celebrate curry and resilience in the times of tamaya. Al jazeera select on now to day on november, the americans war vote. All the seats in the house of representatives at 35 percent of the senate will be contested. Americans are expected to split on strict ideological lines with abortion and the economy named as the key issues. The results will define the rest of your bidens presidency and put americas democratic principles to the test. Special coverage of the midterm elections on al jazeera ah