Is like an awkward date you wait for them to show up at the restaurant, after ten years you decide they are probably not coming. The obr has assumed at each of the last 16 fiscal events that productivity growth would return to its pre crisis trend of about 2 a year, but it has remained stubbornly flat. So today they revise down the outlook for productivity growth, business investment, and gdp growth across the forecast period. That line was more important than Everything Else in the speech combined. But a Second Striking feature of this budget concerns public spending and austerity. After the last six elections, weve had big tax rises to pay for extra public spending. Not this time. An historic shift. And yet, we still have spending cuts baked in to our plans, sizeable spending cuts. Heres the graph. Per capita spending on Government Services from 2015 to 2022. So is this really do able . Today the chancellor bunged some billions into the Public Sector to ease the pain in the next coup
Phil im phil gayle. Welcome to the program. Later today, u. S. President donald trump will deliver his first state of the Union Address, laying out his governments agenda for the year. So lets have a look at two of the key issues he is likely to address. On trade, it is America First. During his speech at the World Economic forum in davos, mr. Trump repeated his Election Campaign pledge that the American Economy was his top priority and that the country is open for business. But America First does not mean america alone. When the United States grows, so does the world. Phil immigration and the future of the socalled dreamers will be the other key issue. The president has suggested he is open to protecting the 700,000 children of undocumented migrants who live in the u. S. Illegally. In return, he wants the senate to approve billions of dollars in Border Security funding. So lets get more from our washington correspondent, alexandra von nahmen. Welcome. So, lets talk about the president
Gamers and geeks flooding san diego. That is ahead on bloomberg west. To our lead uber ubers fight. They say drivers use it on their own terms. Thats why there is no typical driver. Thats why three people can never represent the interests of so many different drivers. A lawyer for the plaintiffs did not immediately respond on the filings, but joining us now is my cohost for today. Also ubers outside counsel from los angeles. Lay it out. What is goobers ubers position . We had drivers who filed the case. In a classaction, they have to represent everybody else, same situation have an identity of interest with the other drivers who they want to represent as named plaintiffs in the class action. The problem is that they do not resemble those other individuals. As you mentioned at the top, we submitted 400 sworn declarations from drivers across california. It is compelling. The individuals tell their own stories. One woman says she wants to be an entrepreneur mom so she can spend time with
We talk about tapestry in just a bit, welcome to the closing bell everybody im kelly evans and, well weve given you the hint to the story that well talk tapestry later this hour. Im bill griffith, spoiler alert, the ceo of box is looking to become a leader in Artificial Intelligence with its latest Product Announcement aaron levy will be back with this exclusive interview from box works to discuss the latest move, coming up. Also we have underarmor shares under pressure today after a new report says teens are more or less over the brand. Companies down about 1. 5 on the session. Well tell you what teens are buying these days. Man, that was a great album the hit after hit after hit. We have breaking news from last hour, President Trump wrapping up his meeting with canadian Prime Minister trudeau. Eamon has the latest on that reporter yeah, hi fwil, youre right, that meeting wrapped up Justin Trudeau is getting ready to roll out of the white house you might see him roll right behind us h
Four days. The story here, Home Builders and housing. Home builder stocks getting it hard on the proposal to slash the mortgage cap in half were going to give you more on that coming up with somebody angry about it as well three big stocks were watching this hour. Apple, Company Getting set to release its earnings tonight a lot of questions about the iphone 8 and x facebook shares down after Mark Zuckerberg said he is serious about facebooks russia response and he will boost spending to police content thats raising concern about future profit and margins. Time warner taking a hit much more on these three stocks ahead. Lets get straight to this big tax plan we have our oreporters covering every angle for you. Theres going to be four tax wrack ets. For households that earn over a Million Dollars of income. The next tax rate will be 35 . That will apply to income between 260,000 and a Million Dollars. The 25 tax rate will apply for income between 90,000 and 260,000. The 12 rate, the lowes