projected to get to the lowest level in a generation and they have protected that it will have a 17 billion pounds to the economy to get the economy growing and every part of britain. forgive me if i may take you to the policy that you are espousing today which is put more money in the pockets of savers and actually, by your own figures out was looking at the release you put out today summing it up to 10,000 pounds in saving to get an extra 50 for the here from what you are proposing, how is that going to affect inflation? because it makes it more attractive for people to make money into their savings account rather if anybody has 10,000 to keep in their saving, what the effects would be marginal wouldn t they? sure, but what you are looking at is the magnitude for any government has to tackle it but for the chancellor he says that he is doing, we are proposing constructive ways in which he can help to ease the burden and ease the pain for people right now, one
think is a mistake. i believe in it so that we are going to get there but we are going to get there in decades and not overnight. between now and then we are still going to need oil and gas and if we had got supplies in the uk it seems to me absurd not to use those because it will create jobs and also nick improves our energy security and reduces inflation. we have seen what happens when energy dictators hold us to ransom, so cutting off our own supplies of energy seems short sighted policy and it would the situation worse. on public sector pay, low value public sector workers, they do an incredible job, the nhs or the teachers, for example, and of course everyone would like to be paid more, but i have got to be cognisant of what we can afford and what is responsible and it would be dishonest to say, i m going to borrow money so i can give you a generous pay rise and make my life easier for a give you a generous pay rise and make my life easierfor a bit but knowing full well
as you can see here, the rate of inflation in the uk has remained stubbornly high over the last few months adding pressure on the bank of england to raise interest rates again when it meets tomorrow. they re likely to be concerned that core inflation which excludes volatile food and energy prices actually rose hitting 7.1%. that s the highest rate since march 1992. bear in mind, the bank of england s target for inflation is 2% and its been falling in other countries. here s the uk finance ministerjeremy hunt. we don t have the clip at the moment. yael selfin is chief uk economist at the business consultancy kpmg and joins us from london. we heard from jeremy hunt earlier and he said it is a surprise, and it is one of their targets to get inflation down, but it is proving to be harder to do and easier to say. it is proving tricky and there are a number of reasons, one of which is we have a very tight labour market, tighter than in other economies, especially in europe,
to have suffered minor damage. let s start by hearing from the us national security adviserjake sullivan, who called on all countries to join together to stop the houthis from what he said was hijacking the world. he was in speaking in the last few minutes. we speaking in the last few minutes. - anticipated the houthis would try to hold this at risk, and we continue to reserve the right to take further action. but this needs to be an all hands on deck effort. this comes down notjust do the decisions of the countries that took strikes last week, but the broad set of countries, including those with influence in tehran and other capitals in the middle east, making this a priority to indicate the rejection of wholesale that a group like the houthis can hijack the world as they are doing. the us has struck and destroyed four missiles that were a prepared to launch from houthi controlled territory in yemen. barbara slavin is a distinguished fellow at the stimson center in washingt