No. Seneca was out of money and i would like it to be permanent because it would make things less expensive and we can move around more than one if you anything that benefit citizens is good. Of course, in terms of the economic and political situation, it helps for us. Its a huge benefit and were thankful for that. Isnt good on minute. Youre almost half a 1000000 people have already pre ordered the free transport cards and state own railway operate ran for expects a scheme which runs until year end to result in 75000000 free railway journeys. It will cost 221000000. 00 euros. And as part of the latest aid package to mitigate price rises, an economist alex cobham is chief executive of the Tax Justice Network. He joins me from oxford in the u. K. Thanks for being with us here on the to be a business. So ill winful taxes the right way to be funding inflation really seems like chief of public transport. Yeah, absolutely. Um, you know, winful taxes are about taking a bit of the money back from company. So the bank can completely access profits. Well, the rest of the economy is suffering in order to fund some relief during that moment. Just a long term, a policy. But for the short term, when we really need it, its pretty much the best option that we have is one of the issues with wind for taxes of it is subjective. Here is making excessive profits. How do you decide which companys profits all or too much . Well, no, this is one of the joys of it. You know, Corporate Income taxes are pretty much the most efficient tax we have because what theyre doing, theyre not taxing activity. Theyre taxing the profit that results. And that means that you dont change anyones incentives. Companies still have the incentive to producing the same point and maximize their profits. Its just that youll distributing some of that profit back to the state for the benefit to the rest of us rather than to shareholders. Now, a winful thanks does exactly that. But with a bit more focus, so it says in these moments where the profits are completely excessive, were going to take a bit more of that. And that means that you can construct very precise measures of what that profit is when its excessive. So you say for example, the return on capital has gone from being 5 percent to being 20 percent. That excess 15 percent return, or whatever it may be. Were going to take a higher share event in taxes in order to fund the kind of relief that people need in these moments. So you can apply this very efficiently, very fairly and without distorting the incentives that companies things. But do countries that entities when for taxes like in the, in the you can, as weve been hearing about spain, did they not risk deterring investment in their own economies from big businesses . You might, at some point stand to make very large profits oversee. Thats what the big businesses and they lobbyist when you think you dont scare the whole system or anything that might push off the Business Investment. But actually, you know, they, you know, and we know that thats not how it works. What really matters for Business Investment is the stability as they look ahead. Is this a country with reasonable economic prospects, or is this a country thats likely to be in chaos, to be very unstable . As long as youre, when for tax is clearly part of a strategy where the government is committed to stabilizing the economy, to protecting people and their ability to consume in the future, which is where economic demand comes from. Then actually when full taxes should be supportive of the conditions for future investment. And as i say, winful tax is because the tax is on profit. Somebody can access profits, they dont undermine or change incentives to invest because its still going to be the right Investment Decision that maximizes profits, even if a bigger share of those profits is going to be shared with the state. Just briefly, alex, weve been talking today about their, the 9. Your ticket here in germany, which i think is, has caused some headlines around the world this monthly ticket because just 9 yours with public transport. It does that appeal to you as a, as a policy, is that the right thing to be doing . It doesnt, it seems exactly the sort of response that we should be looking at right now, cuz it delivers in a number of areas. First of all, its broadly progressive. You know, everyone may benefit, but actually its people and lowest incomes for whom that benefit is going to feel and be experienced as the most important. So thats great. Everyone get something. It strengthens this kind of social contract. Since we have but the benefits are progressively distributed and then secondly, its also responding to the Climate Crisis. You know that the numbers that have been coming out of the emissions saved by this measure are really quite striking. And you know, they tell us that public transport is kind of, you know, almost a silver bullet. Its exactly what we should be investing in both in these moments of crisis. And in this, the longer term Climate Crisis that were facing. Ok, alex cover from the Tax Justice Network in the u. K. Thanks very much for joining us. My trip. Not some of the other Global Business stories making the news. Lufthansa says its canceling 800. 00 flights after pilots amount to strike. The friday, the pilots union says its seeking a 5. 5 percent wage increased by the end of the year, automatic adjustment for inflation and changes to the pay scale. German adeline says its already made a fair pay off. Not just Parent Company says the messaging app will be cutting 20 percent of it. Staff staff is struggled with competition from tick tock and is facing a steep decline in ad sales in july last more than 400000000. 00. Its not chance, as it will focus on mental reality. And the International Monetary fund has reached a deal with for lanka, bail out package of about 2900000000. 00 is meant to help the country out of a crippling economic crisis that goes civil unrest. And topples it toppled as president staying in that region and devastating floods have left much of pakistan under water and left more than a 1000 people dead. They see as unusually extreme monsoon season is set to leave a lasting mark on the countrys already struggling economy focused on the farm as will be among those left coping with the after effects. This landscape is a far cry from what it used to be after recent monsoon rains, devastated crops and livelihoods i do garofalo of the day crop is harvested once a year. We worked very hard and spent a lot of money on the farm this year, and hope for a very good crop and to earn a good profit from us. But even with these rains ruined all our hopes that nothing could be saved about them. I am. If hi, dora pakistan is the 5th largest producer of dates, the Growers Association says at least 80 percent of the harvest has been damaged so far. And its not just dates. Cotton crops, rice and sugar cane have also been destroyed, threatening the countrys food security. The floods destroyed houses, roads, bridges, and Communication Networks to preliminary estimates by officials show the country has suffered damages were a 5500000000. 00 i hadnt seen any, any destruction or devastation of this scale. I find it very difficult to put into words the phraseology that we use to whether its monsoon rains, or flooding doesnt quite seem to encapsulate the ongoing devastation and disaster that were still witnessing. The flooding could not have come at a worse time for the islamic country, where the economy has already been in free fall facing high inflation, corruption on a rising account deficit. When the rainfall stops reconstruction will begin. But for farmers like day crop growers, their nightmare will continue next year as flooded orchards weaken the trees resulting in another low yield next year or less. Get more in this from our correspondent terry carter care joins a strong deli, a neighboring india, chary, clearly in a, in enormous human cost. But so the flooding in pakistan, what sort of a impact is it having on the economy there . Absolutely. Robert, these floods have caused a devastating impact on back a son. Over 33000000 people are said to have been affected right now. And even as we speak the flood, what does it yet to receive . So of a holistic assessment is yet to be made. In fact, a federal ministers have said that it would be too early to make a r holistic assessment of the economic loss. But a preliminary assessment for boots that figure to somewhere around 10000000000. 00. Apart from that, there are millions of acres of crops that have been lost. So in the near future, there is a stock possibility of an acute form shortage. And pakistan was already having Enormous Economic problems before the flooding came along. It was already seeking a bail out from the International Monetary fund as the i m. F. Seemed like its going to step into support pakistan now. Well, yes, let has already happened, rubber lee. I am of has a announced Immediate Release offer this fund. This is about 1700000000. 00. A long standing negotiations were being held between pakistan and im a for this and this a was released 2 days ago. This will come as a breeder for the federal government because it has been struggling with struggling because of a many problems 40 to 45 Percent Inflation of extremely low fordham road, foreign reserve Foreign Exchange reserves, current account deficit. So multiple, a guess, getting a level of problems have been affecting the bach, sunny economy. And now the federal government is really hoping that this dismissal from the i m f would come in handy rob. And what about pakistans neighbors in the region . No player states, adversary, i suppose india, is there support coming from other countries for pakistan . Well, yes, definitely. Some aid has already arrived. Saudi arabia and cut her, i believe, have each announced her an aid of about 3000000000. 00. And u e has announced has a place another 1000000000 dollar indian Prime Minister takes a day to express his concern and extended whatever support of that box and of my desire. But then india is yet to announce any kind of assistance of blackest on. Government has also been beating to the United Nations to launch an International Sort of a flash, a beam, so that whatever funding that that could come by any government could use that in relief and rehabilitation efforts. And after that, some reconstruction, massive reconstruction efforts are also required. Rob. Okay, tara cartucker. Thank you so much for the update. Thats all for me in the business name. Ah ah. With ah, russia party. Russia in its dissident artist, russia. Ah willis, blacklist for tiffany. Pardon me . The focus on europe, 90 minutes, a is a journey across the entire continent with variety of cars. So what this so the focus, the move is shake is visionaries and majors when binding the meaning of modern africa. This is an egg, and d, w. And were interested in the global economy, our portfolio d w business beyond. Heres a closer look at the project. Our mission. To analyze the fight for market dominance. Good is step ahead with d w. Business beyond a. A. A with this is a w news live from when you a nuclear inspectors arriving ukraines upper regia power plant. After being delayed by nearby shelling a plan to check the safety of europes Largest Nuclear nuclear facility, which russia now controls the where fighting is already forced to shut down one of its reactors. Also on the program