the pound has hit a 37 year low against the dollar after the uk the bodies of 71 migrants have been found after the boat they were travelling in sank off syria s coast. it s not clear what caused the accident. hello and a warm welcome to our look ahead to what the papers will be bringing us tomorrow. with me are the broadcaster and journalist james lewer and the sun s chief political correspondent natasha clark. let s talk a look at tomorrow s front pages. today s mini budget dominates the front pages. the mail calls it a true tory budget, and says the £45 billion package has been welcomed by business leaders. but the independent calls the plans robin hood in reverse , as the highest earners are expected to see the biggest tax cut benefits. the i says that markets were spooked by a surge in government borrowing to pay for the biggest tax cuts since 1972. the market s reaction is on the front of the financial times, too. the pound slumped to its lowest level against the do
tax when he was chancellor. it didn t see this huge growth. i think liz truss s supporter will argue thatis liz truss s supporter will argue that is nowhere near as ambitious. we haven t really seen this for many years. jury is out, but liz truss is taking a big political gamble and we know we face probably an election within the next two years. she s got to show this is working for the voters, putting more tax in their pocket. what will help in the long term is helping grow the economy. making the whole pie bigger, as she likes to refer to it, and reversing some of those trends in wage growth and living standards that we ve seen get worse. james, the guardian have come up with their her doctor already and they say it s a budget. their
trade makes the pie bigger. but how that pie. sheered is not a decision that s made in geneva. those decisions are often made elsewhere globalization has created loopholes that enable multinational corporations to move their profits to obscure tax havens. just simple blame for the problem it is multinational companies that conclude contracts worldwide in order to pay as little tax as possible and remain effectively above the law your buddy because that s real . but is it realistic to hope that international regulations will one day create fair trade policies that benefit everyone or is that you topic. some rather pessimistic about the idea that all interests can be represented equally when it comes to trade policy. competition here pursued because states and economies still tend to pursue their own nationalistic interests so let s not just. it s often
the market they can thank the fed, bless bebernanke every night before they go to bed, and they ve gotten themselves a market that is way ahead of the economy. way ahead of the economy. the economy is not doing badly. neil: what is behind the companies spending all this cash in apple s case, hiking its dividend, and everything else? they re doing something didn t used to do. are you encouraged by that? look can how they re spending that? well, hiking the dividends, increasing the buybacks don t increase competitiveness. so if you don t get demand in this economy, don t get growth this, whole idea about jobs we have this conversation all the time. people talking about, let s have more job. why aren t people hiring? because we don t have the demand, and we ve got to create a society that looks at growing the pie, making the pie bigger, getting gdp up to 3-1/2 to 4%,
trying to divide the pie instead of making the pie bigger. why his policies are a farce. he is concentrating on things like soaking the rich and buffett rule and things of that nature to soak the rich which would pay for four days of government spending. it s the appeal to lowest common denominator, the darling of the interest electric tuilsz he is appealing to ignorance, appealing to passion. this whole outsourcing business, i know it s difficult to run a campaign and talk about something like that. it s clearly something whose time has come. most companies have to do it. their investigators demand it. consumers demand it. biggest outsourcing, look at the council of economic advisors for the biggest outsourcing.