the value of the pound has dropped again today by nearly a percent against the dollar as investors digest the warning from the international monetary fund about the uk government s fiscal plans. the imf has openly criticised the plan for widespread tax cuts, warning the measures are likely to fuel the cost of living crisis and increase inequality. here s michelle fleury with more details in new york. one of the roles of the international monetary fund is to act as an early economic warning system, and it has just sounded the alarm over the uk s new tax and spending plans. in a statement, the fund warned, given elevated inflation pressures in many countries, including the uk, we do not recommend large and untargeted fiscal packages. even more pointedly, it suggested that the november 23rd budget presented an opportunity for the government to re evaluate tax measures, especially those that benefit high income earners. remember, as part of the uk treasury s policy to boost
support to give to ukrainians in the long term. with the former business and long term capital correspondent in the washington post anchor. hello welcome to the programme. for the past five years, the conservative party has at times, appeared to stray into labour territory. when theresa may came to power in 2016, the conservatives she said would be the party of the ordinary working class . the 2017 manifesto promised to stand up for the weak , restore fairness, there would not be, she said, untrammelled free markets . then came borisjohnson, nominally of the right, but with a plan to redistribute wealth to the north, and on the back of what became, post pandemic the highest tax take in 70 years. today, in her first prime minister s questions, liz truss returned to something that looked much more, like the conservative orthodoxy of old. i m on the side of people who work hard and do the right thing. that s why we will reverse the ni increase and why we will keep corporation
concerns that there may not be enough affordable accommodation forfans. the far right noru are the far right noru are on the far right noru are on course to gain control and giorgia meloni is on course to form the largest. the words olitical form the largest. the words political earthquake form the largest. the words political earthquake are - form the largest. the words political earthquake are often | political earthquake are often used and probably overused, but it feels apt tonight, because this is a country that now looks like not only has it elected its first ever female prime minister, but its first right leader since benito mussolini, the fascist leader that led italy into the second world war and was eventually hanged by anti fascist partisans. it now looks like giorgia meloni, whose party has its roots in neo fascism, but she said her party has consigned that political creed to history, and she represents a modern conservative right wing government. it looks like