one of the uk“5 biggest supermarkets, morrisons, says it has accepted a £63 billion takeover bid from a us investment group, led by the owner of majestic wine. there are 500 morrisons stores in the uk, with more than 100,000 people employed by the company. the firm“s directors are recommending shareholders approve the deal. we“re joined now by retail analyst ged futter. good to see you and lovely to have you here in the flesh. first of all, what does it mean when there is a takeover bid? why would this happen? it means there are a group of investors that see that opportunities to make more money. that is what we have with morrison s. they think the price on the stock exchange is actually less than that it is at the moment. 50 than that it is at the moment. so the shareholders, the people to whom morrison s belong at the moment, are being advised saying this is a good price, this is as good as it is going to get, take the money. the share price going to get, take the money. tie
taxes, and that s actually part of our proposal, too. we have about a $63 billion pay-for helping to close the tax gap, that assumes about a $40 billion investment in the irs, including, by the way, better taxpayer service, which is important right now, but also enforcement. let s be sure we re closing that tax gap, but not in a way that s too intrusive in the lives of americans in small businesses. i think that s a good sweet spot, a compromise. the administration talked about a $700 billion fund here. that isn t appropriate in our view. there s a bipartisan agreement on helping to close that tax gap. i am curious, though, it does seem as if all the pay-fors, you know, there s this big list, and, yes, you called it creative ways. the average person looks at this and says, he, these are countermaneuvers, this will increase the deficit. there seems to be comfort, okay, let the deficit go up if it s for infrastructure.
hundred and 63 billion of the 172 billion is going to infrastructure. this case being that bridges and byways are going to love left the area as much as skills, numeracy and literacy. we all know that we have seen over the past year in terms of education. a leveling down basically across the country we have seen. not just in the northern region. so many of our schoolchildren and university students have suffered in life that are education and social skills, record number of them reporting clinical depression and mental health issues, so this is a really important moment for the government in terms of the schools and education row. people will be looking at this and thinking we spent £10 billion on the test and trace fiasco, the government will not fork out £15 billion to have the education sector. it s been reduced to one 1/2 billion and that is why sir kevan collins resigned. we will not level up or build back better if
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information to talk september 19 and 20th in washington. the ongoing trade war is expected to reduce the u.s. gross domestic product. the total provides by .3%. and that could reduce the income by the average household expects year. remember, if that s true, that offsets the projections of a recession some have been making because a recession would be no growth or negative growth. the other big headline from today s report, federal budget deficits, ceo said this year s deficit will reach $960 billion, $63 billion higher than the previous estimate, which was made a few months ago. and starting next year the deficit will likely exceed $1 trillion a year. that s not the debt. that s just one year s budget shortfall. joining us to take a look at