we can t afford to be able to put her in nursery for some days a week so i can go back to work. so it s quite difficult really, but announcing this sounds really promising. big changes to pensions too to encourage people to stay in employment, but the chancellor s plans prompt accusations that his budget favours the rich. also on the programme tonight. markets fall in europe and the us amid concerns about the troubled banking giant credit suisse. it s a lovely ball through to benzema. break s here for vinicius. then benzema. and there s no miracle in madrid as liverpool are knocked out of the champions league. and coming up in the sport, but you left the best of the action from snakes champions league clashes, it is mission improbable liberal pool and nurture it, find out how they fare against the defending champions. liverpool. good evening. the chancellor, jeremy hunt, has pledged to build for the future in his first budget, promising it will deliver growth. he told mp
welcome to the programme. it was budget day here in britain today. a big set piece annual event in which the chancellor stairs into the crystal ball, and tries to predict the future and how best to steer the uk economy through it. the obstacles in his way are common to europe and the united states. high inflation, higher interest rates, and since the pandemic, an intractably acute labour shortage. this graph trackjob vacancies across europe since august 2022, historically high after the pandemic, but you will see the uk, the red line at the very top, is struggling more than most. with 1.1 million vacancies. if more people are employed, more people are paying tax. the good news for the chancellor is that the uk will swerve recession this year thanks to growth returning by the summer. but the economy will still contract by 0.2%. and any brighter news, is tempered by slower growth over the long term. mr hunt said the uk would only grow by 1.8% next year and byjust 2.5% in 2025
and his supporters. we start with the troubled global banking sector. european markets have closed down more than three percent, spooked by a major sell off of shares in the swiss banking giant, credit suisse. coming days after the collapse of us based silicon valley bank, it s prompted fears of a full blown crisis in the sector. let s take a look at the damage at the close in europe today. shares in credit suisse plunged to a record low, falling 24%. that came after its biggest investor said it could not give the bank any more financial help. here in the uk, the insurer prudential tumbled 10%, and the high street bank barclays, 8%. the plunge by banking stocks left london s ftse 100 down almost 4% at its lowest level this year. it was the index s worst one day performance since the start of the covid 19 pandemic. taking a closer look at credit suisse today was the second day of sharp falls for its shares after the swiss bank yesterday disclosed that its auditor had identif
who s asking what s going on? the government offers this explanation. it s the legacy of covid and it s, of course, what putin is doing. but are ukraine and covid the full story? i think the uk is probably poorer than most people think. the system isn t producing like it should. that is the result - of choices we ve made. this is definitely not what normal looks like. this is what failure looks like. the government rejects talk of failure or decline, and it s true, britain is one of the richest countries in the world, but if that s the case, why do so many people feel so poor? cornwall is home to more than half a million people. it s where i grew up and where my parents still live. these days, cornwall relies on fishing, farming and, most of all, tourism. it s one of the most popular destinations in the country. it s also one of the poorest in the uk. cornish workers are among the uk s lowest paid. with rising food, housing, and energy prices, life has got harder in the last