let s now get down to business and starting in the uk. how attractive is the uk as a place to do business? later today we ll find out when the ons releases its latest data on the level of foreign direct investment into the uk in 2021. a recent survey conducted by the accountancy firm pwc suggests britain was the third most important place in the world for businesses to invest, behind the us and china. but the head of the cbi is not so optimistic. in a speech today tony danker will call on the government to not shy away from hard decisions that can reverse the uk s trajectory of falling investment. he will urge the government to seize green growth opportunities. lets get the view of chris southworth, secretary general of international chamber of commerce uk. good to see you. obviously we are talking about investment in the uk from overseas, that is one thing and tony danker calling on the government to invest more, that is another thing. if we talk about the uk at the moment,
struggling with symptoms. let s start here in the uk, where the new chancellorjeremy hunt has ditched almost all of prime minister liz truss tax cuts announced in the government s mini budget three weeks ago. the financial markets reacted positively to the news, with the pound rising against the us dollar and uk gilts falling. in total £32 billion of the £45 billion in tax cuts have been shelved, these include. the planned 1p cut in the basic rate of income tax is now on hold indefinitely, with the rate remaining at 20%. the cap on energy prices charged to households is now only guaranteed until april next year. for a typical household, it means an annual bill will not rise above £2,500 for the next six months. but plans to cancel the 1.25% increase in national insurance contributions will still go ahead, along with a reduction in stamp duty, and the cap on bankers bonuses will still be scrapped. joining me now is chris southworth, who s the secretary general of the uk i
the black sea and tackling the globalfood crisis. if you have justjoined us you are welcome and we begin in the uk with a brace to replace borisjohnson as conservative party leader is gathering momentum. on wednesday evening the shortlist of eight came sex, as former foreign secretaryjeremy hunt and the current chancellor nadhim zahawi were eliminated from the first round. by the end of next week, the list will be narrowed down to two names which will then go to the party boat with 60,000 members around the country for a final decision. the former chancellor rishi sunak got the most votes from conservative mps, he has criticised other contenders for offering fairytales on tax, saying cutting taxes now would stoke inflation. it is saying cutting taxes now would stoke inflation. stoke inflation. it is not credible stoke inflation. it is not credible to stoke inflation. it is not credible to promise - stoke inflation. it is noti credible to promise lots stoke inflation. it
chancellor of the exchequerjeremy hunt has described his autumn budget statement. 27 million workers will see their main national insurance contributions cut from 12% to 10% from january. and a tax break for companies that invest in new equipment will be made permanent, which mr hunt claims is the biggest business tax cut in modern history . also announced the news that from april, universal credit and disability benefits will go up by 6.7 percent. but those on welfare will have to take a work placement within 18 months or risk losing their benefits. the state pension will go up by 8.5% to 221 pounds 20 a week. the minimum wage for those aged 21 and older will go up to 11 pounds 44 an hour. pouring some cold water on all this however, a report out from the uk s independent spending watchdog, the office for budget responsibility. it warns that despite the new cuts, overall tax as a percentage of national income will soon be the highest since the second world war. here s our p
Thing in the world of retail. Thats black friday of course the annual discounting spree thats come to mark the start of the Holiday Shopping season. But with many shops closed or subject to restrictions across europe and the us, today will be a black friday like no other. Online sales have been replacing those chaotic scenes in stores for a long time now but 2020 is seeing that trend turbocharged with online retailers expecting their biggest black friday ever. How much consumers will actually be prepared to spend though is another matter. From new york, heres michelle fleury. The black friday shopping many are still playing out in a. Millions of americans had the malls in a mad dash to get their hands on holiday deals that rock prices. The past two days everything you can imagine has been flying off the shelves. The friday after thanksgiving, typically the easier shopping day in america, synonymous with large crowds and chaotic scenes, it is the polar opposite of social distancing. And