let s start here in the uk, where, in a few hours time, the chancellorjeremy hunt will unveil his first budget, where he will outline the government s big decisions on spending, and plans for raising or lowering taxes. among the measures he s expected to unveil is a significant expansion of free childcare provision. it s part of a strategy to get more people back to work, given the shortage of staff in some key sectors. the chancellor is also expected to announce a rise in the tax free limit for pension contributions, to encourage people to stay in work for longer. the latest economic figures underline the challenge facing the government, as well as the pressure on household and business budgets. here s our economics editor faisal islam. it is back to work budget, that s a promise, and it was centre on one of the biggest ever expansions of childcare for england with equivalent funding for other nations. parents of one and two year olds will get the same 30 hours of support a
thoughts? thoughts? yes, thanks for havinu thoughts? yes, thanks for having me- thoughts? yes, thanks for having me. absolutely. i thoughts? yes, thanks for i having me. absolutely. this week and the following weeks are going to be very, very important, especially on the back of the inflation data, and of course as you correctly pointed out, this turmoil that we have seen in the back of the fallout of s vb. central banks are in a tough spot what to do, because they are bringing up their fire hoses to put out the fire, in terms of inflation, and at the same time the tightening of the financial conditions, the liquidity trap that we see in the market is creating a fire in another place. so yes, there is a calm among investors and traders, especially when we speak to our investors, because of what happened in the market, because of some of the assurances provided by the lawmakers, but traders are still immensely concerned of the systematic default which could be coming. well, what is t