good tuesday morning, everybody. i am lindsey reiser live at msnbc world headquarters in new york city. right now we are one hour away from the convening of the 118th congress on capitol hill. a scenario unlike anything we have seen before. one question remaining, will kevin mccarthy be the speaker of the house? right now it s not clear the california republican has the votes to secure the gavel. he seemed optimistic about the outcome this morning. do you have the votes yet? we will have a good day today. we do know house republicans spent the last hour huddleded in a closed door meeting where mccarthy addressed his caucus, but was he able to sway any republicans standing in his way. and just in the last hour we heard from congressman, scott perry. over the 14 years he has been in leadership, he has done almost virtually nothing to change it. and under pressure from a group of members that said we are not any longer going to accept the status quo, and we have been abl
message is even more stark. the bank of england won t hesitate to raise interest rates if needed. also on the programme. flinching from the constant shelling the struggle for survival on ukraine s front line. in the last few minutes we have been hearing incoming and outgoing shells, every 30 seconds or so. it really doesn t stop. and science fiction made reality as nasa plans to try to divert an asteroid by crashing a rocket into it. and coming up on the bbc news channel. worcester warriors have been suspended from all competitions after failing to meet the deadline set by the rfu to provide evidenced they could continue as a viable business. good evening and welcome to the bbc news at six. the government is under pressure tonight as the financial markets give their verdict on the government s so called mini budget last friday. the value of the pound plunged to an all time low against the us dollar this morning though has since somewhat. and the amount it costs the governme
and outgoing shells, every 30 seconds or so. it really doesn t stop. and science fiction made reality as nasa plans to try to divert an asteroid by crashing a rocket into it. we start in the uk where the bank of england says it won t hesitate to take action to control inflation, after the pound slumped to an all time low against the dollar. take a look at this chart from this morning s asia trading. at one point sterling fell to $1.03 the lowest since 1971 though it s since recovered slightly. there s been speculation that the bank of england may announce an emergency hike in rates to control rising prices. for the moment, that hasn t happened. well there s lots to unpack. first to understand what s happening today we must go back to friday and to this annoucement in parliament. i can announce today that we will catch the basic rate of income tax to 19p, in april 2020 three, one year early. that means a tax cut for over 31 million people injust a few months time. t
it s tearing our margins to shreds, we are trying our best to absorb . what cost increases we can. but ultimately, because - the pressure the business is under, we expect to have to put prices up as a result. at the labour conference, the party outlines its own plans for the economy, including cancelling the tax cut for top earners. with a labour government, those at the top will pay theirfair share. the 45p top rate of income tax is coming back. we ll have the latest on the uncertainty over the government s approach to managing the economy. also tonight: in eastern ukraine, we report from the city of bakhmut the latest target of constant russian shelling. in the last few minutes we have been hearing incoming and outgoing shells every 30 seconds or so. it really doesn t stop. and england and germany play out a six goal thriller. and england and germany play out a six goalthriller. but and england and germany play out a six goal thriller. but still no win for the three lions