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
deforestation footprint. 0ur big climate footprint to be zero form imports formulation. this is crazy. this is going to lead to more deforestation and could lead to a spike in deforestation and we think this is really alarming. this is really alarming. obviously, there is greater this is really alarming. obviously, there is greater concern - this is really alarming. obviously, there is greater concern about. there is greater concern about indonesia i remember at copp 26 there were billions of pounds poured into protecting rain forest and that is where the focus has been. what sort of record does malaysia have on sustainable farming? sort of record does malaysia have on sustainable farming? there is a good sto in sustainable farming? there is a good story in terms sustainable farming? there is a good story in terms of sustainable farming? there is a good story in terms of palm sustainable farming? there is a good story in terms of palm oil sustainable farming? there is a good
you go to areas such in the malaysian part of borneo there are heavy parts of deforestation so there is no way you can guarantee these imports into the uk would be deforestation free. so we think it is very contradictory to the uk s policy which is basically to try to foster support for the big global tropical forest. foster support for the big global tropicalforest. so foster support for the big global tropical forest. so that was a cop agenda, the uk led to that and this seems to be undermining it. indonesia is not part of this trading bloc at the moment but it may be one day, does it set the wrong example? may be one day, does it set the wrong example? absolutely. i think this is a real wrong example? absolutely. i think this is a real big wrong example? absolutely. i think this is a real big signal. wrong example? absolutely. i think this is a real big signal. at - wrong example? absolutely. i think this is a real big signal. at the - this is a real big signal. at the moment
massive illustrates is that still remains a massive issue in particular for relation massive issue in particular for relation to massive issue in particular for relation to bribe plaintiff and deforestation wildlife and just a bit deforestation wildlife and just a hit of deforestation wildlife and just a hit of a deforestation wildlife and just a bit of a wake up call when you are negotiating bit of a wake up call when you are negotiating trade deals on your own and not negotiating trade deals on your own and not part of a much bigger trade hiock~ and not part of a much bigger trade block. ., ., , , ., ., and not part of a much bigger trade block. ., ., , i. ., , block. not to put you on the spot and what joe block. not to put you on the spot and what joe biden s block. not to put you on the spot and what joe biden s policy - and whatjoe biden s policy on tariffs regarding palm oil but i do know when i was in glasgow thatjohn kerry fought long and hard on