barr, who did much of donald trump s bidding during the russia investigation, defends the fbi decision to seize classified documents from the former president s florida estate. this as we learn more about what was found in the search, including dozens of empty folders marked classified. plus, the former president sharpens his attacks against federal law enforcement, calling the fbi and doj, quote, vicious monsters, while warning of unprecedented backlash. how will his supporters interpret that? and president biden hits the campaign trail this labor day, visiting two key battleground states, pennsylvania and wisconsin, both union strongholds. we ll have a preview of his holiday campaign events. good morning. it is monday, september 5th. welcome to a special labor day edition of morning joe. i m jonathan lemire. thanks for starting your holiday with us. we now have a clearer account of what the fbi seized from former president donald trump s mar-a-lago home in palm be
tone, warning markets were spooked by government borrowing to pay for the biggest as cut in half a century. the market reaction is on the front page of the financial times as well. the pound has slumped to its longest level since 1985. borrowing is forecast to hit £190 billion. the times describes the chancellor s plans as a great tax gamble, with the prime minister seeking economic growth at all costs. and the telegraph shows us the first official photograph of king charles attending to his red box papers in his new office at buckingham palace. and in the guardian, hilary mantel celebrated author of the will fall trilogy, her picture there. she died at the age of 70. wolf hall. no prizes for guessing where we re going to start. not tosha, kick us off with this mini budget. natasha. is ita gamble, do you think? mini budget. natasha. is it a gamble, do you think? politically, economically. gamble, do you think? politically, economically, yes. gamble, do you think?
to pay stamp duty. i found that out this morning. that s good. it s a trickle down budget. sometime in the future, we may see a benefit, if all goes well. but the poor need help right now. in nother news, four russian occupied areas of ukraine are staging referendums on whether to become part of russia. western governments call them a sham. the first woman to win the booker prize twice, the celebrated author dame hilary mantel, has died at the age of 70. hello. in a massive shake up of the uk s finances, the chancellor kwasi kwarteng has outlined a series of tax cuts and spending commitments that will cost £45 billion by 2027. the independent institute for fiscal studies has described the announcements as the biggest tax cutting budget in 50 years. the government says its policies will help boost economic growth yesterday the bank of england warned the uk may already be in recession. but critics say funding the tax cuts will lead to unsustainable borrowing. the chancellor an
european union leaders have agreed a compromise plan to block more than two thirds of russian oil imports. european council chief charles michel said the deal cut off a huge source of financing for the russian war machine. he added that it put maximum pressure on russia to end the war . european commission president ursula von der leyen praised the deal. i m very glad that the leaders were able to agree in principle on the sanctions package. this is very important, thanks to this council should now be able to finalise a ban on almost 90% of all russian oil imports by the end of the year. joining me now is janet mui, investment director, brewin dolphin. yesterday the oil price was up around $120 a barrel. what will this do to relieve the pressure on the oil price? this will incrementally support the oil prices, of course we also have the story that china is reopening shanghai so that will also put pressures on oil price. i think so far the supply from russia will be diverte