This is al jazeera. Ah hello, im has, im secret. This is the news. Our life from dell ha, coming up in the next 60 minutes. The u. K. Prime minister, under pressure. As a new finance minister unveils plans to reverse most parts of a controversial economic package that will be more difficult decisions. Im a phrase on both tax and spending drone strikes. Hey, ukraines capital keith. But president zalinski says the attacks will not break ukrainians. Ethiopians, government says ill sees airports and other federal buildings in t. Great, but its committed to talks to resolve the conflict. Ah, the fight to stamp out Child Marriage is a campaign is launched in india, which has the largest number of young brides in the world. And im he, december, to the sport with just every month to go to the world cup organizes say, cousins tournament will welcome everyone as a festival of football. It brings the world together. And lets unify everyone here in celebration of whats going to be an absolutely amazing event. Ah, ah, hello, it is 1500 g m t for pm in london, where the you case, new finance minister will present his economic plan to members of parliament shortly. Jeremy hunt has already unveiled some measures they include reversing. Almost all of the proposals announced by his predecessor a parliament is meeting now. But the Prime Minister list trust is not attending comments lead a penny movement is taking her place. She says the Prime Minister is attending urgent business. We have made this change for a reason, and i understand that people want people want certainty and reassurance about their bills that businesses benefit. And i am sorry that the ive been leading to the changes today have added to the concerns about the major volatility that was already the existing in the economy. Thats why we are pushing it right today. Jeremy hunt announced the economic measures 2 weeks earlier than planned. The most important objective for our country right now is stability. Governments cannot eliminate volatility in markets, but they can play their part. And we will do so. Because instability affects the prices of things in shops, the cost of mortgages and the values of pensions. There will be more difficult decisions, im afraid on both tax and spending as we deliver our commitment to get that falling as a share of the economy over the medium term on a spring. And Andrew Simmons who is in western is the force. Andrew, we are expecting to hear from the, the new chancellor in a few minutes when he appears before Parliament Just but just bring us up to date on whats been happening there within the last now well, this was customer leader of the labor party is 1st opportunity to try to tackle the government over the fiasco has been occurring over the past 4 days. He wasnt able to speak the prominence youve already heard. Why . The explanation why, but he was almost humorous to begin with saying that penny morden, serb, leader of the house will everybody seems to get 15 minutes trying to be the Prime Minister or pretended to be the Prime Minister, or was that effect onto it . Show . There wasnt much laughter, but so then he got into that the main message of the labor party to the government. He was saying that long term damage had been cause to the economy by the Prime Minister. It was like crashing a car at a 100 miles an hour. Theres lasting damage. He said that so where is the Prime Minister . Is she scared of her shadow . He demanded to know why this had happened, and he said she must be honest about major mistakes. And he also said that there was a vacuum. Now in the u. K. Government, he wanted to know further details of what was going on. I had a modern sir, though, didnt really get into much detail than to say that sir. The Prime Minister acted in the National Interest and you can agree with it or not. But it took courage to do it. She said, of course he quit back about that, but not being the case at all, that it wasnt courage to do such a thing. So, oh, this is ron installment of many in a fast moving crisis. Been described by one m p as Something Like a soap opera that needs cut to come to an end. Well, the new chancellor has certainly calm the markets, but it took a colossal amount of reversing of all the decisions. Most of them anyway, less trust made along with quasi, quoting her ex chancellor, or who she more or less blame for it all, but they were her decisions. She was the one who wanted to actually a call for cutting taxes and growing the economy, but cost that didnt work out. Indeed an engine as you say, the, the new chancellor has com the market, sir, for now. But what does this do for a lizs less trust is position as, as Prime Minister, given that she is fighting for her job as each day goes by, is each hour goes by almost were just looking at the that the reversals of, of the decisions that, that the chancellor talk, 1st of all, i mean he, he basically the main highlight from all of the taxes. Hes the tax cuts and hes reversed. It is income tax. Its scott was to go down to 19 percent from 20 percent. Thats not just been postponed. Its been cut altogether and so his trust is being left now with a total reversal of what she was doing added to that the scheme for helping out the public with their heating bills was supposed to last 2 years. The financial scheme to cat the bills. Thats now laguna last 6 months. That will be a review by the treasury. That will be a different product. Maybe thats going to save taxpayers a lot of money. So trust has got to look all of the look at all of this and try and re package it as her own vision for the future will. Its not that its being ported out, not just by the labor party, a, some conservative party as well. That there is a lame duck Prime Minister. Now she doesnt appear to be in control. She doesnt even appear to be in power. Because jeremy hun, the chancellor is the key player. Hes revive the markets. The pound is getting stronger against the dollar now. And government borrowing, it is cheaper, but its still by no means over and done with. And weve got it. Were are still billions of dollars of Government Debt to deal with. However, a big move has been made and, and, you know, for now the some breathing space, the question now is the Prime Ministers future and the, the Financial Markets dont want instability. That the chaos thats going on over the past 4 days is one thing. But actually stabilizing the politics is the real challenge now and, and westminster is in, well, its in a spin because there are all sorts of plots going against Prime Minister as i speak. There are plans to try and bring in a caretaker, Prime Minister or hose alls, not firm plans. There are also other suggestions that the 1922 back Bench Committee which, which really does all the moving and shaking her in terms of government, that members of parliament and elections and so on and so forth. They could change the rules for bringing in another leader that will all cost that will all cost in terms of public popularity. But the feeling is amongst many quarters in this, a government now is that they cant really afford to carry on with less trust. But then they cant go for an election because that would be disastrous. The popular to this government is going down and down and down. Its below 20 percent suggested by one opinion poll from the past 3 days. And so now what do they do . Well, its likely its very possible there will be a move to bring in a new leader. Possibly its. I take a Prime Minister, a catholic, a Prime Minister as a number of people who could take that role. And maybe thats for 3 months. And then they get more serious about, hopefully stabilizing in the run up to an election, which will be in 2024. Certainly by the end of that year. That has to be so that gives them some space. But the thinking right now is that the conservative party has got a total car crash on its hands and less trust is in serious, deep trouble or writer for the moment. And you simmons, lifers. There are outside and westminster. How big your price is, their chief economic adviser at the center for economics and business research. Hes also a former u. K. Government economic adviser joins us now from london. Thanks for being with us now as we were hearing from and you there. And what were the new chancellor has done as, as help the markets for now, but what happens next . Its a very good question. The reason what you needed to do something today, i had to announce it early in the morning, and fact and note came out to the treasury. You know, before the markets opened at 8 oclock here in the u. K. It was really because the bank of england, which had been supporting the markets by buying bombs and reducing the yields as fast as we possibly could over the last 10 days or so. I was stopping doing so on friday. And the fact it did. And now im sorry what it was gonna do. And of course everyone was looking with presentation on what may be happening on monday morning. So they had to come to markets ahead of the opening, which they did. So yields indeed have started coming down and the pound has stabilized effective, strengthening slightly, as weve just been hearing. As always, of course, on the back. Oh, very substantial. You tons that have taken place, which can only really the government in a rather weak position in terms of the market thinking what else is going to change . And as we heard from jeremy, the new chancellor, hes only been there for 3 days. There may will be more tax increases, more changes and publics expenditure cuts, which i get into home the economy quite substantially say ill put through. So where does this now leave the, the free market ideological wing of this government, which really inspired these proposed tax cuts. Its not got a good reaction from, from the Financial Markets as we were saying. And now they have almost complete reversal of those tax cuts, original tax cut plans. They now started been thoroughly discredited. Well, as we heard from the chancellor, he says, we still want to go back to that model that lease trans was pushing, which is really reducing the tax burden on on firms. Im going to individuals and pushing for growth. The truth is, of course such, its very unlikely that any of her plans would have led to any fantastic growth in the u. K. Given the environment that we really given the fact that the economy slowing down anyway, given the fact that Global Economy itself is in trouble. What is going on in russia . Ukraine is, or continuing. And there are still serious worries about what may happen to gas prices in the future. So all that combined would have negated quite a lot if a growth policies, if you want to call them that. Now of course, with the change in planning on all this, what were doing is removing quite a lot of money from the economy that would otherwise have come in. But at least there is a little bit more money that can be spent in the areas that the government really is concerned about. Whether its National Health service or the defense budget, or you know, possibly or certification areas which need extra cash. And where of course, what had been announced in terms of the tax cutting measures of september 23rd would have necessitated huge extra amount of borrowing, which the markets really wouldnt have provided unless they got very, very high Interest Rates in return. And that was the real dilemma that jeremy hunt was facing, and thats why you dont you turn, but im afraid it means that individuals and businesses now have even more uncertainty as to what happens ahead and even more uncertainty as to whether they will be supported beyond the next 6 months, given that the electricity price phase was introduced, seems to now be limited quite significantly. So we have to do a rethink on that basis. Everyone is downgrading Economic Growth in the u. K. So really go back to your original question. The plans and the Market Growth model, which i think the stress wanted to see happen, is just operate. So where does this now leave britains britain place in the Global Economy . It is the 6 biggest economy in the well, but its no longer part of the European Union if last years amount of credibility and im afraid we have to live with that. And when you look at sterling, yes, he has recovered a little bit. But if your growth dictations have been downgraded and will be downgraded again, then im suspecting that wed be looking at the u. K. Sort of negatively. Remember just before the, those announcements sovereign credit risk was downgraded in the u. K. By suddenly one of the southern risk credit companies. And the expectation of course, is now that shes looking ahead. We may well see a drop in g d p over the next year. Now of course, you mentioned that when a longer part of the, you know, the you is having problems as well. And the forecast from the mess where that countries like germany and italy, were going to see negative growth next year. The had the u. K. Having a little bit of growth point 3 percent is what they thought the 2023. I think that would have to be re estimate of that. So we talking about negative growth possibly in the u. K. Next year to alright. Good to get your analysis on this. Vicky price, thanks very much. I stay with al jazeera because were we will be yeah. Hearing from the new u. K. Chancellor, later in this now and he still had now the battle to lead brazil, the top contenders. Face off in their final debate before the runoff election. Tough lessons for hong kong teachers. Why many educators are quitting and brazil star name . Ah, if he is in spanish court, as he denies allegations of fraud and corruption, he tells coming up at school. Ah, for less than i had professed, at least 4 people have been killed and 16 injured in drown strikes on ukraines capital. Official say keith was struck several times in an Early Morning attack by Russian Forces using drowns cities mass as they hid the Central Shaft krinski district. That same area was shelled by russia last week. Everything well have is right now. Hotel. It just, there are, its there at that. Here in historical film leave. Im due to the live and what the russians they destroyed all gone for. They destroyed our hometown. Did. They kill allows right no, amber, we see the error. These bear up is spirit douglas through the 3rd draw brace of this war. Roger. Good. The russians need you. Brainy result. You granules them back. Why big . You see below people who i am a gen june is in keith. Its so common fact a neighbourhood that were in right now that im, im actually over looking at the moment. A childrens playground where there are kids playing on slides and swings. There really gives you a sense of how quickly things change here and keep it was just early this morning that our team was awakened by the air raid sirens that were sounding out throughout the city. We were looking at the sky at different points and seeing those kamikaze drones trying to hit targets. Then wed hear the rat a tat tat sound coming from the air defense systems. They were trying to shoot those, those drones down for people confirmed it killed in keys. And that happened in a residential building that was badly damaged as a result of those drone strikes in the center of the city where the attacks took place. And the mayor of the city of italy, clinico, he said that one of the victims was an elderly lady, a resident of that building. And the 2 other the victims were a married couple, a man and a woman who was 6 months pregnant. So a certainly a very tragic news for the residents of that building. Weve also heard that there were 3 People Killed in attacks on the sumi o blast region thats on the border with russia. Now at the moment, there are some concerns that this could affect the power grid in the country because local officials have said that there were many Critical Infrastructure targets in different cities and regions that were targeted by these drones strikes to day. But you have officials that have tried to ease peoples concerns saying that even though some facilities were damage, the power grid is up and running. Yes, there were Power Outages and hundreds of villages, but they say that everything should be back on line and back to normal. Within the coming hours are taking a closer look now at the kamikaze drones. They are designed to hit enemy lines and are destroyed in the attack. Their small Unmanned Aircraft carry explosives, kamikaze drones are unlike traditional, larger and faster military drones that return to base after launching missiles. Earlier, my colleague nick clark spoke with edges here as defense analyst alix could topple us about the key of attack and the type of weapons used. Kamikaze drones are a very exciting name for what is i loitering in issue. So logic, munitions, so range of munitions at one end or they can loiter literally, hover above the battlefield, identify an enemy tank or an enemy position, a nose dive into it, destroying it. Now the other end, they are virtually cruise missiles, so they can travel a Long Distance and strike their target. Hundreds of kilometers inland, very much like weve seen here in keep to day in other irregular parts of russias austell. No, theyre not russia hers being behind in developing a low end tactical drones, especially on once. Its a cruise missiles and missiles have been used up significantly in the battle for ukraine and its running low. And now these were high end, high value, extremely accurate, but also very expensive, and their inventories have been depleted. Now these imported drones are not only accurate do the job, but theyre cheap as well. Higher forces from across the nato are taking part in the alliance. His annual nuclear exercise, the drills involved 14 countries and up to 6. The Aircraft Training flights will take place of a belgium thats hosting the exercise and over the north sea. And the u. K. Dash of butler as more from paris after nato defense ministers meeting in brussels against dalton. But though said that nato would certainly not cancel these exercises this year. And in fact, it would not be a good thing to do. So it would send the wrong message. He said to moscow at this particular different difficult time when russia has been stepping off its rhetoric. When it comes to a threat about using Nuclear Weapons. Weve heard a lot for moscow about that. We know that the Nato Alliance says that its taking those threat very seriously. Indeed, it is watching them closely at this point. The line says that it really feels a threat some more about trying to deter western powers from taking part in this conflict. But theres less, as i said, being looked at very seriously. In fact, the us defense secretary lloyd austin fed, any Nuclear Strike by russia would receive a response from ukraines allies. He didnt exactly say what it would be that it would be a physical response. We then heard a little bit later from the french president , a manual micro think, almost contradict him. I know micro saying that the allies would not use a Nuclear Weapon against any Nuclear Strike by russia, but he wasnt totally clear about exactly what would happen. Nevertheless, its important to note that france is not part of the operation. Steadfast noon is not part of these exercises. Even though france is one of the 3 Nuclear Powers in the lines along with the u. S. And the u. K. But fraud is not part of nato Nuclear Deterrent pattern group. Or the, at the opium government says it is aiming to take control of airports and other Critical Infrastructure in the northern te grey region. The African Union has called for an immediate cease fire. After an escalation in violence, fighting resumed in august between the t gray rebels and Government Forces ending a ceasefire that had lasted several months with oceans, which were said scheduled in south africa last week, failed to take place. Our brazils 2 president ial candidates have traded insults in their 1st televised one to one debate, 2 weeks before the runoff election. Right when president , jail balsam arrow faces former left his leader lula. The silver, monica jani, q. Reports of from Rio De Janeiro on for a foot bunker to pick it up with bars of water faces. They represent the opposite sides of the political spectra, but able so narrow reason as to lula. The silver seemed to agree on one thing, authors, or format or field. You want to control the media so you can continue lying or what the log into rock. You lie every day, you lie and deny. Was it lion denying me . In a 90 minute debate, where the candidates could roam the stage . Former president lola, the silver accused the incumbent of downplaying, the coven. 19 pandemic, which killed 680000 brazilians. Oh, so that before you made fun of the sick, you said that those who took the vaccine would turn into alligators. There isnt in the history of any government in the world. Some one that played with the pandemic and with death like you did. You one more to go with sibling life or sonata shifted the focus, pointing out that lula and his Workers Party, where at the center of one of brazils largest corruption scandals, and blamed them for the economic recession. During bill merrill staffs government, got you. Brazils economy shrank by 7 percent during 20152016. When the Workers Party was governing the country. Was there a pandemic knows it . Was there a war in ukraine . No, there was a lot of corruption in brazil. Our father to brother political analysts, jaguar i go, says the debate was a time duration, so both candidates, they knew their weak spots. They knew how to attack each other. And that was it attacked and very, very little proposal close to none from each. So the battle in the next 2 weeks is to win over undecided voters. Moolah has a shorter hill to climb. During the 1st round, he had 6000000 votes, more than bull sonata, but the president is putting up a tough fight by reducing oil prices and distributing handouts to the poor. I st. The rivalry continues as the election where football nach. Oh was another product, but most of im voting for bolton narrow because the economy is back on track. As they say you dont change the players. If your Football Team is winning the good didnt. But also, i, me of his, all of his sort of lunas time food prices were lower. The book by tv said fridge. No, theres no money. People at this market are an example of how divided brazilians are and how in certain results future is monica, an archival, jazeera, janera of swedens parliament as back to center. Right. Moderate parties are also kristen as the new Prime Minister, the 3 Party Coalition to chose him includes the far right anti immigration suite and democrats party. The block has agreed to adopt tougher border controls and criminal sentencing, opposition figures. Phase xenophobic nationalists now have control of the gum in pakistan, the former Prime Ministers party has regained 6 seats and a parliamentary bi election part of a campaign by him and con, to force the government to call snap collections. It was forced out of office earlier this year in a no confidence vote come, harder has more from a slum about the under visual regardless of the crucial bi election are already out m. Ron cons bardy had won by a landslide majority earlier the government and bala, led by the prime miniature by dave, had accepted the red gig nations of just a handful of debug it on teddy again sob members, although they had all resigned from parliament that a government was hoping that by hoarding by elections on these particular states, that they will get a majority and that strong up position and balance because they did not certain about the Political Alliance that come about and out get him ron con, to award of no confident emron on of god said all along when accusing the ruling government of being cooperate of the United States and foreign powers. And the statement by the u. S. President jo, divide and about buckets on being the more dangerous country in the world has angered a lot of people there and reinforced em. Rons narrative also important to know that the what i heard that call me movement, richard a party that had always had it way. Oh wow, thats out. Last all it feeds in by election at the official results will now be out, but they did indeed. A major setback for a government, which it already preparing. As you can see behind me, blockaded lama bod. After him, ron han announced that he was going to march on the cap. Is i still ahead on edge . Is it a ambushed in kenya . Well tell you about the people fleeing to safety only to running to more from a frenchman cutting. Ben zayna is the favorite to be named the worlds best play on monday, and well have the details coming up in school. Ah hm. Santiago capital actually has been very warm recently at blash because the suns at the breeze is coming in from the north. Thats about to change the winds coming up from the south. So were down to about 21. 00 degrees and a bit more weather in the sky. Margin tina with some sto lightly in the andes. Its also not a sunny and what was it was to be honest, but the onshore breeze a strongest in brazil and also uruguay. Not particularly wet weather, just a few showers that have to say much warmer. It says north in rio and a good part of western brazil and from power quite up to columbia. Now it looks potentially quite sherry anyway, could give a flash drive columbia. Its been the focus recently, but nothing looks too dangerous because the folks of the wet stuff just a bit further north. Its given very wet weather recently in panama, in costa rica. I think itll do the same. This is effectively the rain belt that goes around the world, but equally on the Pacific Coast, Pacific Coast of mexico is looking fairly wet out of sight, not so as for the u. S. And well get there right now, but a big contrast from east to west. This is effectively arctic hair miss. Re bringing snow to probably good partial wisconsin admin. So to wears in the extreme west, particularly oregon and washington. Its very warm. Ah, ah. A with as it breaks, its not just personal property, but also infrastructure that now need fixing from power lines to water main, detailed coverage for years off of your pricing. A little how strange i know a frequent hard line from around the world at the be probably season like 451. 00. So you record on football today. Ah ah. Hello again. This is a reminder of our top stories this hour. You play chancellor jeremy hot says he will remove almost all budget measures. Spock panic on the market sees expect to present his plan to parliament shortly. Hunters unveiling, tax and spending proposes 2 weeks earlier than planned. At least 4 people have been killed in 16 injured in drunk strikes in ukraines capital official se keith was struck several times in an Early Morning attack by Russian Forces using drugs the earth you, if you open government, has about to seize control of airports and other Critical Infrastructure in the northern te grey region. The African Union has called for an immediate c spot after an escalation and violence. Thats been 5 years since the armed group i saw was defeated in the rocker in northern syria. The city served as its base. Yet even with the fight is gone, people are still living in ruins. They have limited electricity, water, and access to education and medical services. I said, beg reports, the ice and fight to celebrate vic capture of rocca in 2014. Ah, theyre no longer here. But the destruction left off the battle to force them out still remains us fact kurdish fighters fought st battles to dislodge the militants. And the u. S. Kodak hundreds of air strikes from the city. The Syrian Democratic forces now controlled rocca from all right, live now to the u. K. Parliament in london, where the new u. K. Finance minister is speaking less was name issues on which we vote our job. Families depend on mortgages that have to be paid savings for pensioners and businesses investing for the future. We are a country that funds are promises and pays debts, and when that is questioned, as it has been, this government will take the difficult decisions necessary to ensure there is trust and confidence in our national finances. That means decisions of i watering difficulty. But i give the house and the public, this assurance, every single one of those decisions, whether adoptions in spending or increases in tax will be shaped through cor compassionate conservative value. The needs of the most vulnerable. That is why i pay tribute to my predecessor for the energy price guarantee, the furlough scheme, and indeed only a decisions to protect the n h s. Projects in a period when other budgets were being cut by mister speaker. I want to be completely frank about a scale of the economic challenge we face. We have had short term difficulties. We have had short term difficulties caused by the lack of unovia forecast, alongside committee budget. But there are also inflationary and interest pressures around the worlds rushes. Unforgettable invasion of ukraine has caused energy and food prices to spike. We cannot control what is happening in the rest of the world. But when the interest of economic stability means the government needs to change course, we will do so. And that is what i have come to the house to announce to day. In my 1st few days in the job, ive held extensive discussions with the Prime Minister cabinet colleagues, the governor of the bank of england, the, the head of the Debt Management of his treasury officials and many others. The conclusion ive drawn from those conversations is that we need to do more more quickly to get certain to the markets about our fiscal plans and show through action and not just words that the United Kingdom can and always will pay our way in the world. Weve decided to make further changes to the mini budgets immediately rather than waiting until the medium term for school plan in 2 weeks time. In order to reduce unhelpful speculation about those plans is to speak. Im very grateful for your agreement on the need to give the markets an early brief summary this morning, but i welcome the opportunity to give this house details of those decisions. Now weve decided on the following changes to support confidence and stability. Firstly, the Prime Minister and i agreed yesterday to reverse almost all the tax measures announced the growth 3 weeks ago that have not been legislated for in parliament. So we will continue with the abolition of the help from social care levy changes to stamp duty. The increase in the annual investment allows 2000000. 00 pounds on the wider forms to investment taxes, but we will no longer be proceeding with the cuts, the dividend tax rates saving around a 1000000000 pounds a year. The reverse of the of payroll working reforms introduced in 20172021, saving around 2000000000 pounds a year. The new factory shocking scheme for non new capers. This saving a further 2000000000 pounds a year or the phrase on our whole duty rates. Saving around 600000000 pounds, i will provide further details on how those rates will be upgrade. Just like to swap the telephone. I just cell phone. So okay, sorry to cut it. I would prefer to provide further details on how i told you to rates will be upgraded shortly. Second, the government is currently committed to cutting the basic rate of income at 19 percent in april of 2023. It is a deeply held conservative value, a value that i share, that people should keep more of the money. Which is why we have continued with the abolition of the health and social care letter. But at a time when mosque market is asking serious questions about our commitment to sound public finances, we cannot afford a permanent discretionary increase in borrowing worth 6000000000 pounds yet. So i have decided that the basic rate of income tax will remain at 20 percent. And it will do so indefinitely until economic circumstances allow for it to be kept taken together with the decision not to come, cooperation, tax and restoring the top rate of income tax. The measures ive announced today will raise around 32000000000 pounds every year. The 3rd step im taking today, mr. Speaker is to review the energy price guarantee. That was the biggest single expense in the growth plan. Im one of the most generous keys in the world. Its a landmark policy, which i pay tribute to my predecessor, my right of friends from spell for i will support millions of people through a difficult winter, reducing inflation by up to 5 percent. So i confirm today that the support we are providing between now and april, next year will not change. But beyond next april, the Prime Minister and i have reluctantly agreed. It would not be responsible to continue exposing the public finances to unlimited volatility in International Gas prices. So i mean, i think today a treasury lead review into how we support energy bills beyond april next year. The reviews objective is to design a new approach that will cost the taxpayers significantly less than planned, while ensuring enough support for those in any support. The businesses will be talking to the most effected and a new approach will better incentivize energy efficiency. There remain, im afraid, many difficult decisions to be announced in the medium term fiscal plan on october the 31st. When i confirm that we will publish a credible transparent, fully costed plan to get debt falling as a share of the economy over the medium term, based on the judgment and economic forecasts of the independent office for budgets. Responsibility, id like to thank you. We are his director, richard hughes. I met this morning and the bank of england, whos governor andrew bailey. Ive now met twice. I fully support the vital independent roles. Both institutions play which give markets a public and the world confidence that our Economic Trends are credible. And rightly hold us to account for the but i also want more independent expert advice as i start my journey as chancellor. So im announcing today the formation of a new Economic Advisory council to do just that this council will advise the government on economic policy. With 4 names announced today, rupert harrison, former chief to the john. So the extra gen leaguer from Element Capital social wed, warney wed, wanting us its management and karen ward of j. P. Morgan is the speaker mr. Speaker. We remain completely committed to our mission to go for growth. But growth requires confidence and stability, which is why we are taking many difficult decisions starting today. But when we do need realism about the challenges ahead, we must never fall into the trap of pessimism. Despite all the rest in challenge we face, there is enormous potential in this country where some of the most talented people, 3 of the worlds top 10 universities, the most tech unicorns in europe. One of the worlds great financial centers, incredible strengths in the crate of industries in science, research, engineering, manufacturing, and innovation. And all that gives me genuine optimism about our long term prospect. But right . But to achieve that, it is vital. We are now to create a stability on which future generations can build. The reason the United Kingdom has always succeeded is because a big and difficult moments. We have taken tough decisions in the long term interests of the country and in a way that is consistent with compassionate conservative values. That is what we will do now. And i commend the statement. Yes, i know all the shudder chunks looked like julie. Thank you mrs. A call as i regularly say now i welcome the new chelsea. Ha, ha ha. The fools in 4 months of chaos. Im fiasco as this conservative government spirals down the political black hole. Yeah, but the damage has been done yet. This is a tory crisis made in downing street, but ordinary working people are paying the price. All that is left out to these humiliating you tons, a higher mortgages for working people and higher bonuses for bankers. Yeah, im, they climb down on Energy Support banks. The question yet again, why wouldnt they extend the wind for tax on Energy Budget . Oh, now it is good to finally see the Prime Minister in her place. Yeah, im not as the leaves of the house had to assure us earlier under a desk. Yeah. But mrs. Make a what is she left with no authority, no, no credibility, no plan for growth. And it is clear to see the people who caused the chaos cannot be the people to fix the chaos. I head out of touch and out of time. Now the Prime Minister should have spoke to the house to day, but we know that she can not do that with a shred of credibility. During that the survival of this government now depends on smashing to smithereens everything that she stands for. And now she is attempting to reverse everything that she campaign long. It is not just impossible, it is absurd. The Prime Minister is fairly in office and she has certainly not in power. For only 5 days ago, the Prime Minister said a Prime Ministers questions that there would be, and i quote, absolutely no public spending reductions on it. After what we have heard from the chance to to day. Every Single Public Service is again at risk from the conservative from our mhs nurses to our schools, to our service men and women with the country, paying the price for their incom personae. The Prime Minister said that she had an Energy Package for 2 years. Now thats been withdrawn on the very day. It is supposed to be legislated for the Prime Minister insisted that her conservative many budget would lead the country to the promised land. Instead, it has led to the highest mortgages in 15 years, an emergency interventions by the bank of england to protect and pensions. And then on friday, the annette applying spectacle of the chancellor being dragged back from the i met before he could do any more damage to our economy. So she has turned to a new chancellor who finished 8 out of 8 in the tory leadership contest when he just 18 boats from mpm through a little tories have run out of credibility and now they are running out of charles lou. Yeah. Late this Office Holder has been in the cabinet for 9 of the last 12 years at the center of the government, responsible for low growth and weakened Public Services and fin, responsible for helping money and a chest into the ground. Yeah, he was a big part of austerity season want and now he says the kill is austerity season to im what mrs. Mika was, the chances flagship policy, in his own shortly leadership contest, to reduce Corporation Tax in a totally unfounded manner. Not from 25 percent. To 19 the right honorable gentleman called for it to be load to 15, but not a single explanation of how it was to be paid for. The truth is, had he won the contest and implemented these policies. We would be in an even worse place than we are now. There is no mandate. There is no authority for any of this. The conservatives have put a lasting premium on peoples mortgages and caustic boring, has sent Interest Rates spiraling. Millions of peoples mortgage deals be coming to an end in the next few months, leaving many families for cal, 500. 00 pounds or more a month. He will be paying a tory mortgage premium for years to come. So how does the chancellor think ordinary people can possibly afford any more of this conservative government with have no answers to day . Now the chancellor has said that growth requires hope, adams and stability. I agree, but where does he think the lack of confidence and that lack of stability as ha, from dylan palmer from the sky, mister speaker, it came from the mini budget 3 weeks ago. And what does it say about our country that we are watching boring costs our by our s, not the sign of a strong g 7 economy. It is the exact opposite. Businesses are now saying that things are so unstable that they are pausing investment here in britain. The former Deputy Governor of the bank of glen charles bin has outlined the extraordinary damage. The conservatives have done to all standing in his words, with move from looking not too dissimilar from the u. S. Or germany. So looking more like italy and greece. What a mess, and where is the officer budget responsibility full cost . Have his government learn . Nothing. Does the chosen really affect the country to take everything from him at face value . Last week, the business secretary was busy undermining the office for budget responsibility. Today we have received another massive fiscal statement with no forecast. What has this government got to hi . Yeah, they should publish the numbers so that we know the true state of the public finances of the 40 days of this Prime Minister. And after 12 years of conservative government, yet now to day the children had scaled back help with energy bills for families and pensioners. It banks the question yet again, why, why they bring in a proper winful tax on energy i belt for consumers . Im when will the current chancellor publish info the governments estimates of winful profits of the Energy Giants over the next 2 years. Now . No one was talking about spending cuts until the tories crushed the economy with their money budget. So i asked the chancellor, why should the british people pay the economic price for the tories mistake of the government plan tonight . We believe that the government must honor is commitments to upright benefits and pensions in line with inflation. There. Will the chancellor make it clear to day that that is what he intends to do and what a contrast, but cuts the benefits are still on the table, but the one thing the chance i couldnt bring himself to reverse did i was lifting the cap on bankers by why is this the last policy standing in us disastrous, many budget and let me come, the credibility does the chancellor accent that once credibility and trust have been destroyed, it cannot be simply regained by a series of zig zagging tail. Say you tons . Will he and the Prime Minister, apologize for the costs and exxon i say, laid on families . Can he admit once and for all that the market turmoil we are in was directly caused by the disastrous decisions of his predecessor and the Prime Minister county guarantee that the bank of england, what, how to intervene again to save the government. And what guarantee can he give to people about their pensions, about their mortgages, under Household Bills . The chancellor said to day that everything is now on the table. Is that really the case . We know the abolishing the non dom tax status will raise 3000000000. 00 pounds a year. There was no mention of that today. How can it be brought to some of the richest individuals in society allowed to buy her way out a pyre . You thought that should be paid here in britain, it would not be an i was really difficult decision. Mister speaker. So why doesnt the government just do it . Yeah, there is lasting damage, which these policy, you tons wont change the set fire everything. Now they insist, it is all fine. The truth is mister speaker, an arsonist is still an arsonist, even if he runs back into a burning building with a bucket of water. Yeah, they cant be trusted. The tories a clinging on for themselves, regardless of the cost to the country. Trickle down economics will always smile what drives for our economy, other talents and efforts of millions of ways. Oh is that Government Economic credibility has been destroyed by a palms. Our economic institution, people are paying higher mortgages. The same set of people doing you times isnt going to fix it. The only way to change that as a rail change in government. Oh wow. I think the owner will lady for her questions and im sorry that given the speed of which things moved the weekend, im not time to sit down with her one to one as would normally be the practice before parliamentary exchanges. I understand the role opposition parties play. Ive stood at that dispatch books myself about it behind hines behind the rectory and i was listening very carefully. I dont think she disagrees with a single one of the decision i to parliament. And that is importance for the country and markets to know. And i think there is also agreement on the process of policy making. I support the independence of the bank of england introduced by gordon brown. And i know she supports the independence of the o. B are set up by georgia, osborne, at the government. The whole Government Supports the independence of those 2 important institutions. Now i fully accept and i dont think i could have been more clear that we have had to change some decisions made in the last few weeks. But what i wrote a check, what i reject wholeheartedly is her rhoda narrative about service. If economic management. Yeah, let me remind her, let me remind her that the you case. Unemployment rate is the lowest since 1974, a italy, canada, belgium, sweden, spain, and the netherlands are massively lower than 2010. Let me remind her that since 2010, our growth rate has been the 3rd highest in the g 7. She may not want to hear this, but these are the economic fact hoffman freight since this party came into bonds be higher than germany, france, italy, and japan, and faster than any g 7 countries. Here, looking to the future, we have the Largest Technology sector in europe, more Foreign Direct Investment than anywhere in europe bought one country, that is a legacy to be proud. Okay. Now i was listening carefully full of some questions about the measures that i announced, but she didnt ask any, and i think she agreed. Huh. But i will pick her off all mom points she chose. She talked about in a chess. Let me tell her, maybe they dont want to listen about in a chair. She talked about in a chess because of the Global Financial crisis, which happened on her panties wash and went through one of its most difficult periods ever. And this party protected dna when in 2017 we were able to give it his biggest single increase in funding because of the difficult decisions that we took on that party. Opposed to speaking english, we inherited the financial crisis. We dealt with a global pandemic. Weve led the welding supports of ukraine possible because of difficult decisions taken over the last 12 years, each and every one opposed by the, the preaching today. The me for school credibility, which i really welcome. Can i just tell her that the true test will be in 2 weeks time to see whether she support public spending restraint. Ive shown conservative. Ive shown conservatives can raise taxes. Well see, show labor willing to restrain spending. Like trying to speak. How i welcome my rolling on friends statement. It was both frank and bold and it is in the very short term, at least to have started the market. One point my right, more friend raised to the dispatch box that was absent from his statement earlier today was his renewed commitment to our financial institutions, particularly the bank of england and the office for budget responsibility. He has also now poured the Economic Advisory council, a number of members which have appeared before the treasury slept committee and i think he has chosen well. But could he reassure the house that in no way the Economic Advisory council will in any way conflict with the bank of england, all the office of budget responsibility, the f. C a, the p r and all of our institutions. And they did we, thats a compliment, not work against any well, can i the only one who has spoken very wise in recent weeks about the issues that we face. I can absolutely give him that assurance. I want to be frank to make sure that im getting advice from fantastic institutions, like the treasury, the bank of england and the officer budget responsibility, but also advice that is independent of those institutions. Because that is the way we will get the best result. Rupert harrison in particular has enormous experience of running the treasury under georgia. Osborne. Yes, i think youll make a very important contribution as well. His colleagues on the council and with respect to the markets, hes absolutely right to be cautious about what happens. They go up as well as they go down and no government can control or should seek to control the markets. What we can do is the things within our power, and that is a commitment, a very firm and clear commitment to fiscal responsibility of the shows. Person allison . Oh, my dear mister c, tara was either the Prime Minister has been a originally running off to Something Else other than the seeing to listen. What i say, mister speaker, when the devious chancellor came to get as many budget for the long weeks ago, i called the economic chaos. That was an understatement that turned out to be im not sure words have yet been invented to describe the scale of unmitigated disaster, which the paymaster on her chancellors had created in the past 24 days were biker. We started significantly more slowly due to tory and competence, and isnt it just as well that in scotland, the Scottish Government didnt take the advice of an toady, m ps, to copy and paste before the front bench here deletes old. And people will be paying the price for this for many years to come to hire and traced and bordering rates. Will he apologize for this increased cost that his colleagues have inflicted upon people and he has not been cleaned at all . We confirmed the status of the bankers bonus car hasnt been stopped or has it not been scrapped . Theres little by way of details from the current chancellor and doubling. Dont understand it. And what that will mean for people that the institute for government is set for having clear it is no fact left to cut after the last decade for Public Services under the todays. So where does the current counselor expect to make these cuts these efficiency savings . We know what it means when he says it. We already know the terrible price of acidity because Glasgow Center for Population Health of attributed 2330000 excess deaths to tonia sanity policies. An unacceptable human coast again and again, the toadies bring forward harmful policies. They never feel the consequences all. And we know that guarantees mean nothing under the tories either. The so called energy face guarantee turns out to be worth 6 months, not 2 years. I, cliff edge looming, next april National Energy action have said that many phone people are holding on by their finger tips. Government must be very, very careful. It doesnt try them away. So can you tell us exactly what will happen for households and eat fullest feel of increases make almost everybody vulnerable except perhaps is blanca palace and what will happen to the most vulnerable when inflation source as a result of despite the return of spinal energy costs, the previous chance never got around to telling me what will happen to Business Energy costs at the end of their 6 months repeat. So can the current chancellor tell me what support businesses and cleaning and possibly expensive contracts as we speak can expect . And will this come counselor as the former former former chancellor day to commit to our meeting benefits with the rate of inflation. And we also increased support to those languishing in the asylum system at the end. The punishing naughty course, the public funds years even when he canceled the benefit cap and scott, the to child limit which is chopping up so many children and poverty where it has compassion for them will invest in renewables, carbon captain storage, and a comprehensive energy efficiency. And insulation package. And finally, mister speaker, does he understand that he really understand when looking at broke broken britain, the chaos that the tories are reeked and the prospect of oblique regs at future under both lee. But under tonys that more and more of scotland, people looking at the comprehensive independence perspective, say the 1st one for a fair hearing are more prosperous, not