The bbcyourquestions. The Chancellor Rishi Sunak is expected to pledge to make the uk the most Advanced And Exciting financial Services Hub in the world at a Speech Hell be making at Mansion House in the city of London. More than two years after he was jailed for Sexual Assault, The American Entertainer Bill Cosby has his conviction overturned. A tough message on the 100th Anniversary of the chinese communist Party President Xi Jinping warns that foreign powers will get their heads bashed if they attempt to bully the country. The dukes of Cambridge And Sussex will come together later to unveil a statue of their mother, diana, princess of wales, On What would have been her 60th birthday. And Andy Murray reaches the third round of wimbledon beating german Oscar Otte in a centre court thriller. Good Morning And Welcome to bbc news. The Car Maker nissan has announced a major expansion of electric Vehicle Production at its Car Plant in sunderland. The development will see the creation of more than 1500 jobs at the site and several thousand more in the Supply Chain. Most of these will facilitate the manufacture of the companys new generation, All Electric Model at the site. Alongside this, Partner Company envision aesc will build a new electric Battery Plant which it believes will produce enough batteries to power over 100,000 Nissan Electric Vehicles each year. Nissan hopes the site will be operational by 2024, when the level of uk made components in cars manufactured in the uk is required to start increasing, in line with the terms of the uks Trade Deal with the eu. The development has already received billions of Pounds Worth of funding, with the government thought to have contributed tens of millions of pounds towards the cost. This morning, prime Minister Boris Johnson has said the expansion is a major vote of confidence in the uk and our highly skilled workers in the north east. Nissans chief Operating Officer Ashwani gupta has been speaking to our business editor, simonjack. Nissan is unveiling our new car, our 1 Billion fracturing hub which will demonstrate our road map. This is the worlds first manufacturing ecosystem which is comprising of three pillars. The first one is all new electric crossover, second is the Battery Gigawatt planned. The third is the Micro Grade which will provide 100 energy to our planned and our suppliers planned, that is why it is a great day for nissan, for the uk and for sunderland. It for the uk and for sunderland. It wasnt long ago last time we spoke that you were issuing some warning saying that brexit might mean that nissan would have to stop investment, even pull out of sunderland. In your own words, what has changed since then . What has convinced you that the uk is a Home Phone did attack a home for nissan . Phone did attack a home for nissan . , phone did attack a home for nissan . ,. , phone did attack a home for nissan . ,. , phone did attack a home for nissan . ,. , ,. , nissan . There as i was been trade friendly conditions nissan . There as i was been trade friendly conditions in nissan . There as i was been trade friendly conditions in the nissan . There as i was been trade friendly conditions in the Uk Nissan . There as i was been trade friendly conditions in the uk and l friendly conditions in the uk and the whole of europe, and thanks to the whole of europe, and thanks to the brexit, nissan is moving forward. To use brexit as an opportunity. So that is the first step. The second thing is what has changed in the united kingdom is the way we address the competitiveness. Before, it was more driven by model, but now it is driven by three things. Number one is cost of investment, numbertwo things. Number one is cost of investment, number two is cost of Operation And Number three is cost of business opportunities. And i think all of these three things are creating a very competitive environment for us to take this forward. If environment for us to take this forward. , ,. , forward. Ifi do the numbers, you are putting forward. Ifi do the numbers, you are putting 420. Forward. Ifi do the numbers, you are putting 420, your forward. Ifi do the numbers, you are putting 420, your partner forward. Ifi do the numbers, you are putting 420, your partner is l are putting 420, your partner is envision aesc are putting up 450, leaving 120 Million from the government, the local authority or via the local authority. How important was the Government Money . I think the Government Support is not quantified in terms of numbers because we are still discussing, but for sure, without the government to support, it would not have been possible. We are going through the process and we will share the figures of the government apart. So you are saying it would not have been possible without Government Support because senna did make cynics are saying that Car Makers are masterful at getting governments to pay for things they are going to do anyway. To pay for things they are going to do an a. ~. , to pay for things they are going to do anyway to pay for things they are going to doan do anyway. What is going to change as the are do anyway. What is going to change as they are not do anyway. What is going to change as they are not talking do anyway. What is going to change as they are not talking about do anyway. What is going to change as they are not talking about not. As they are not talking about not only financials about, we are talking about the announcement today, it is the true demonstration of when a sense of the Car Industry where the government, the automotive manufacturers, the society, they are coming together to address the system to create business but to also create an environment friendly society, so that is a Change Point we are doing in nissan and we are really lucky to have sunderland who accepts to work with us to achieve the vision which is zero emissions, zero fatality and zero inequality. The business secretary, kwasi kwarteng, has welcomed the announcement. I think this is a huge deal for a number of reasons. Firstly, this is the first gigafactory, its envision, is the name of the company that is going to build the gigafactory and make batteries for the electric vehicles. Secondly, we all know that nissan have been here in the uk, particularly here in sunderland, for 35 years. They came here in 1986. And i think this billion Pound Commitment means that they are going to be here for a number of decades, i would suggest, to come. So it is a really positive story, as you say. There are newjobs, something like 1600 newjobs, well paid jobs. And lets not forget that a number of years ago, people were saying nissan would leave the uk as a consequence of brexit, and what has happened is the opposite. They have said they are committed to investing here and they are committing to sunderland in the uk. Changes to the governments Furlough Scheme take effect today, as the treasury starts to wind down economic support for companies hit by the pandemic. Employers will now be able to claim back only 70 of their workers wages rather than 80 and will need to cover the 10 shortfall themselves. Business groups, trade unions and labour have urged the government not to press ahead with the changes. We would like to hear from you today on this subject. Whether you are an employer or an employee, why it will affect you. To get in touch on twitter. Dont forget to use our hashtag. I would love to read out some of your comments to get a real sense of what you think about this issue. And later on i will be talking in the next hour at about ten past ten with a nightclub owner. So they are saying that they think there needs to be extra support to make up the shortfall but i would love to hear from you on this today. The nhs has been given the green light to roll out a Booster Vaccine Programme this autumn. The extra dose will be given to the Over 50s and anyone eligible for a flu jab. Flu numbers are expected to be higher than normal this year, meaning extra protection against covid is likely to be needed to prevent too many hospital admisisons. Now we are alive to the Mansion House where we expect the governor of the Bank Of England to begin his speech. As the government announces plans to grow investment in the uk. Can i underline your recognition of the memory of Roger Gifford and his important role he played. There the memory of Roger Gifford and his important role he played. Important role he played. There has been nothing important role he played. There has been nothing unusual important role he played. There has been nothing unusual about important role he played. There has been nothing unusual about the important role he played. There has been nothing unusual about the last 16 months, really. Even long standing neighbours like the Bank Of England and the Mansion House have had to resort to Video Conferences rather than popping round for a word and one of the trickiest issues i think we have all faced as Dress Code and etiquette and the ties on faddy video . I can only tell you i am the worst predictor you could wish come across. The large ear some months ago, when the Lord Mayor. He was dressed in a bomberjacket on a video and i was thrown by this because i thought it was a white tie to Black Tie to bomberjacket. All i can say is by the time we did the event, the Lord Mayor was very respectable. Usual conventional is not a word i have used about the performance of the economy in the last 16 months. The good news is the economy is only around 5 smaller now than it was 18 months ago and the gap is closing quite rapidly. But in any conventional time, saying the economy is only 5 smaller than it was back at The End of 2019 would scarcely qualify as good news. We would all be pretty worried in fact. In a typical recession to the extent there is such a thing, there is a hit to demand to the capacity of the economy, higher unemployment and weaker inflation. Of because during the covid crisis We Saw a simultaneous and substantial file but also in Demand And Supply. All of the indications are that decline in both Demand And Supply will be temporary and we are already seeing that change. The evidence here and in other countries shows the economic impact of covid has attenuated over time with each successive wave. The economic Policy Response has been designed to ensure the longer Term Damage will be as small as it can be. And this is involved with monetary and physical net fiscal policy with their own objectives in a consistent manner. We find ourselves in a situation where is there an Output Gap but it is nowhere near as large as it would be implied if it were bernama recession. I want to talk this morning about what comes next and in terms of two big questions. Firstly, as we experience a rapid Bounce Back, what conclusions can we draw on the temporary nature of the causes of higher inflation . The second one, which is equally important but doesnt get as much attention at the moment is when the bounce is done, what sort of economy are we likely to be in . Because that is very important. This process of normalisation is very dependent on how these two big Moving Parts of Supply And Demand to respond, whether they recover in sync or slightly out of sync. Wear it outstrips that, it is entirely possible we will win as excess demands bottlenecks because that is a reflection of the uneven nature of the recovery. In a normal recovery, signs that Cost Pressures were increasing and firms were experiencing Capacity Constraints would be a Warning Signal that demand was returning close to potential supply, demand was returning close to potentialsupply, but demand was returning close to potential supply, but it is not necessarily the case now because we expect both Demand And Supply to continue to recover towards their pre pandemic levels. Consistent with that, we are seeing we bounce and normalisation of some Commodity Prices and there are plenty of the stories of Supply Chain constraints and transport bottlenecks. But much should be temporary. There are shortages of some products, semiconductors, some agricultural commodities and some End User products. Many of the factors behind these constraints are global in nature, reflecting shortages of products, Transport Capacity and all of that set against the strength of the recovery to date and the expectations of strong future growth as a recovery continues back to where we were before. So here Consumer Price Inflation rose to 2. 1 in may, just above the target, above where we thought it would be when we did the forecast. Goods prices were strong, Consumer Food prices were strong, Consumer Food prices ticked down slightly and the pattern on the Services Sector was mixed. But within the different patterns going on, there is not uneven recovery. Hairdressing and personal grooming inflation was strong. You can put that down to pent up demand, essential need, we can probably recognise that. Or down to recreating the early 1990s David Beckham luck. I believe you tojudge that. Further up the Supply Chain we have seen higher food that. Further up the Supply Chain we have seen higherfood input prices,. Again it is not a universal pattern. I can tell you that Victoria Beckham is reducing the average Selling Price of her dress is by 40 . So it is not at all even the moment. Why do we think these effects could be temporary . Firstly, there are annual Inflation Base effects that were caused by very weak activity and prices this time last year which because they are annual and a matter of arithmetic do not last beyond a year but while they are there, they push up inflation. Secondly, we can see, as I Havejust said, additional Price Pressures from various shortages caused by the temporary imbalance in the recovery of Supply And Demand. Sometimes as demand recovers more rapidly as supply. But there is good reasons to think this will not last. Thirdly, we think and expect there will be a switch from goods to wild services as the restrictions are lifted because the restrictions are lifted because the restrictions have had massive effects on some parts of the Services Sector, so that should lead to a rebalancing of the composition of demand and the economy and over time, if that We Balancing takes place, it should lead to an easing of inflation is spending is redirected to other sectors with more spare capacity. Initially the may not be even. Turning to the labour market, which is also a very important part of the story. It has been far from is also a very important part of the story. It has been farfrom normal. During the covid period, employment has lowered. The chancellors Furlough Scheme has worked very well to preserve jobs and firms in sectors hit by the effect of the pandemic. Secondly, a rising inactivity, those who do not have a job and currently not searching for one, which is not surprising necessarily in a context of a pandemic. If we put all of this together, one of the risks to the outlook of inflatiOn What are the risks . What do we need to watch carefully . We have seen a Pick Up On Import Prices which has extended beyond energy and we have observed the increases, up the pricing chain, and in some prices, they are feeding through into consumer prices in some areas. In some cases, they reflect prices returning to pre covid levels, the base effects again, partly reflecting bottlenecks, the uneven recovery. But there are good reasons to interpret this as a temporary feature. We must be on the lookout, though, for the risk where the features are massive sustain. We cant assume it is temporary, we have to keep examining it. Secondly, we could see Demand Pressures on either side of the most likely outcome, they could be weaker or stronger. They could be weaker if covid continues to be a Material Health Concern and prompts more caution. But on the other side there is an upside risk, a substantial Build Up of excess savings and that raises Consumer Spending to a large degree than would have been true in a more marble time and frankly there is a lot of uncertainty because this is a lot of uncertainty because this is not a situation we have been in the far, as to exactly how that spending out of excess savings and anticipated savings will play out. We dont know, really. Thirdly, we could see Wage Pressures arising if the number of people in work or seeking work does not return to pre covid levels and inactivity remains at a higher level. So a return of the Labour Supply is important as part of this recovery. Fourthly, a further challenge will arise if the temporary Price Pressures have a more persistent impact on medium Term Inflation expectations, shifting to a higher level not consistent with the target for inflation. fix, level not consistent with the target for inflation for inflation. A flavour of the governor for inflation. A flavour of the governor of for inflation. A flavour of the governor of the for inflation. A flavour of the governor of the bank for inflation. A flavour of the governor of the bank of for inflation. A flavour of the governor of the bank of Englands Speech in the city of London. He said the economy is currently about 5 smaller than 18 months ago but he says the gap was closing quite rapidly and there were a couple of key questions he said need to be asked going forward, including when the Bounce Back is done, what sort of economy are we likely to be in in the uk . He asked whether Supply And Demand will recover in single or not. We will come back to the mansion has when the Chancellor Rishi Sunak begins his speech and we expect that to happen pretty soon. Lets bring you other main news whilst we wait for that. The clothing retailer, gap, has announced its closing all 81 of its stores in the uk and ireland and will trade only online. The company has not disclosed how many employees the closures will affect, but will shortly start a Consultation Process with the staff. Ben boulos reports On Whats behind the decision. This is part of the problem. Heavy discounting is something that gap has relied on to get customers spending money at its stores even before the pandemic. So when Lockdown Hit and the stores had to close, it was already in a rather weak position. This, its Flagship Store on Oxford Street in London, and the other 80 around the uk and ireland, will close by The End of september. It will become an online only retailer here. Reflecting a very definite trend in the way that we are all now shopping. Once a common sight on the british high street, but by The End of september this year, all 81 gap clothes shops in the uk and ireland will have shut their doors for the final time. The Warning Signs were already there. Last month, the company announced the closure of 19 stores as their leases were expiring. In a statement, gap said it planned to stay trading online but hasnt yet made clear how many of its staff will be affected by the plans. A consultation with workers is under way. We heard from gap earlier this year that they were undergoing strategic review of all of their retail operations in europe and that it could mean the closure of all the stores in the uk. Whilst its a massive gap on the high street, because its another brand gone, i think its understandable because the organisation have not only had to endure the same on and off lockdowns that the rest of retail have, and they were dependent on those numbers, but its also a brand thats going through a big change. They were having challenging times before the pandemic hit. Gaps announcement comes as the latest blow to uk high streets, already reeling from the collapse of debenhams and retail group arcadia during the pandemic. And with online retail sales continuing to rise, and footfall remaining sluggish, its unlikely gap will be the last of the big Clothing Chains to move permanently to cyberspace. Well, the lights are still on here and the Window Displays are still there, but they will eventually go. And you might think Oxford Street, a prime shopping location, they will easily find someone to take on the store, but on the way here, i walked past debenhams old Flagship Store, remember that shut a few months ago, it is still boarded up, and No One is there. This loss of another big retailer is going to cause worries not just here in London, but on high streets and in Shopping Malls right around the country. Ajudge has denied Britney Spears request to remove her fatherfrom his role overseeing her conservatorship. The Pop Star had said she was scared of herfather and wanted him gone from the conservatorship that has controlled her life since 2008. The mother of two was placed under the complex legal arrangement usually reserved for the very old and infirm after suffering a series of mental breakdowns. The former us Actor And Comedian Bill Cosby is spending his First Night at home after his conviction for Sexual Assault was overturned by pennsylvanias supreme court. The 83 year old had served just over two years of a three to ten year sentence, but the court ruled the case should never have gone to court because of an agreement with a former prosecutor not to bring charges. 0ur North America Correspondent Michelle Fleurry reports. This is the moment Bill Cosby left prison, a free man. He had served two years of a three to ten year sentence. His Fall From Grace was sealed in 2018 after he was found guilty of three counts of Sexual Assault, for drugging and molesting Andrea Constand in 2004. But in a stunning reversal, pennsylvanias highest court said the entertainer should never have been charged. In the split ruling, the judges wrote the Trial Shouldnt have gone ahead because of an immunity Deal Mr Cosby had struck with the previous prosecutor. He cant be retried. Earlier, supporters drove by mr cosby� s home shouting, hey, hey, hey. A reference to fat albert, the Cartoon Character he once played. The comedian, who is back with his family, didnt comment to the media but said in a statement, i have always maintained my innocence. For his accuser, Andrea Constand, it was a bitter blow. Reacting to the decision, she called it. Bill cosby became known as Americas Dad for his role as Cliff Huxtable in the 1980s Hit Sitcom the cosby show. His conviction was seen as proof that even when the accused is one of the most famous people in the world, the voices of the victims of Sexual Assault could be heard in the us justice system. Now, he has a chance to restore his reputation. Michelle fleury, bbc news, pensylvania. Lets head back to Mansion House. It is a privilege to finally address you here at the Mansion House. I want to speak today about the future of Financial Services in this country and Around The World. And given my subject, i am delighted to see so many young leaders here today i know that, energy and imagination that are far more for this industrys success than any government policy. And we need this industry to succeed. You contribute £76 billion in tax each year, enough to pay for our entire Police Force and our entire state school system. You employ 2. 3 million people with two thirds of the jobs outside of London like in glasgow, belfast, bournemouth and leeds and been a lifeline through the pandemic, providing millions of mortgage holidays, billions of pounds of Business Loans and with front Line Staff Keeping Thousands of Branches Openin Staff Keeping Thousands of branches open in the most difficult of circumstances. Find financial Services Dontjust generate prosperity here at home. They give us the economic power to project our values on the global stage. But in recent decades, Financial Services has become emblematic of a broader loss of faith in internationalism. In the past, it was taken as a given that International Cooperation created a fairer and morejust world. Support for that view has fragmented. Now international Co Operation too often seems to be just warm words, the benefits of being a global Services Economy are perceived to flow to narrowly. This is not irreversible. International cooperation should move and inspire people, the benefits should be seen everywhere and we should be proud that people Around The World look to this country for leadership. Those of us who believe in international collaboration must deal more to explain why it matters and the benefits it brings. To do that, we must first be transparent about the principles we use to guide us in our economic diplomacy. Second, we must be clear about how we apply those principles in our economic relationships with other countries and jurisdictions. And thirdly, we need a plan for our most Global Industry Financial Services which sharpens our competitive advantage while acting in the interest of our citizens and communities. Back in march, the Prime Minister and Foreign Secretary published the conclusions of our integrated review, the more far reaching Policy Document a British Government has published in decades. As we apply the Reviews Conclusions to our economic and financial diplomacy, we will follow five principles. First, inverness. We believe in open societies and free economy is founded on democratic values was that a only at the Creativity Individuality and dynamism of three individuals can deliver lasting economic growth. Second, a rules based international order. 0penness And Freedom must be protected by rules that are followed and enforced. We will pursue high Quality Regulation because it needs to better market and will strongly resist is politicisation. Third, a sovereign approach. The Uk Will fan our new freedom to follow a distinctive approach founded on uk law, to paying protected by independent uk regulators, designed to strengthen uk markets. Fourth, multilateral engagement. We will engage and lead in multilateral settings, helping to solve the worlds most challenging problems. Finally, we will pursue real change. Engagement alone is not enough. 0ur International Actions must make a tangible difference to peoples wives. What do those principles mean in practice . As we pursue an independent panel outside the eu, they will guide our economic relationships with other countries and jurisdictions. That begins with our closest neighbours in europe. The uk has an biden interest in a prosperous and productive europe. We have deep shared values and a long history of cooperation, and we will strengthen those ties. At the same time, as i said in in november, our ambition has been to reach a comprehensive set of mutual decisions on Financial Services equivalents. That has not happened. Now we are moving forward. Continuing to cooperate on questions of global finance with our own priorities. We now have the freedom to do things differently and better and we intend to use it fully. But i can equally reassure you the eu will never have cause to deny the Uk Access because of poor regulatory standards. Take firms like clearing houses, which are fundamental to the open and free markets we advocate. The uk already has one of the worlds most robust regulatory regions for centre counterparties. 0ur Regions for centre counterparties. Our plan is not to we can but to strengthen that regime because we believe in high Quality Regulation. It is also entirely within international norms for like minded jurisdictions to use Each Other � s � s market infrastructure. So i see no reason of substance why the uk cannot or should not continue to provide Cleaning Services for countries in the eu and Around The World. Clearing services. Our principles and values will also underpin our relationship with the united states, our most important bilateral partner. The us is already our biggest market, with the uk exporting 28 Billion of Financial Services every year. Our ambition is to deepen regulatory cooperation even further with our closest ally. 0ur Principles will also guide our relationship with china. Too often the debate on china likes nuance. Some people on both sides argue either way should sever all ties or focus solely on commercial opportunities at the expense of our values. Neither position adequately reflects the reality of our relationship with a vast complex country with a long history. The truth is, china is about one of the most important economies in the world and a state with fundamentally different values to arouse four hours. We need a mature and balanced relationship. That means being what eyes are wide open about their increasing international influence and continuing to take a principled stand on Issues Wejudge and continuing to take a principled stand on issues we judge to contravene our values. After all, principles only matter if they extend beyond our convenience. It also means recognising the links between our people and businesses, cooperating on global issues like health, ageing, climate and biodiversity, and realising the potential of a fast growing Financial Services with total assets with £40 trillion as we harnessed the uks Innovation And Expertise to meet those global challenges. It is precisely because we are taking steps to protect our economic resilience that we can pursue with confidence and economic relationship with china in a safe, mutually beneficial way without compromising our values or security. Just as our principles and form our economic relationship with the eu, us and china, so they must apply to our most Global Industry, Financial Services. 0ver most Global Industry, Financial Services. Over the next few years, we will implement a sweeping set of reforms, sharpening our competitive advantage in Financial Services, continuing to deliver for our communities and citizens and working internationally and in places like the g7, the 620, the internationally and in places like the g7, the g20, the financial stability board, to set higher global standards. Stability board, to set higher globalstandards. I stability board, to set higher global standards. I am stability board, to set higher global standards. Iam Publishing Today a document setting out our vision in detail across four themes. First, we must be open, seeking closer links with advanced and emerging financial centres Around The World. Just yesterday, i signed an ambitious financial Services Partnership with singapore, a practical demonstration of our commitment. We are negotiating a ground breaking deal with switzerland, the most and vicious financial Services Agreement ever attempted. I will always defend the global norms of open markets, such as delegation of portfolio management. The most ambitious financial Services Agreement. Second, we will boost our Financial Services across regulation and tax. We are consulting on the reforms of regulation of wholesale markets. And reforming the regulation of the insurance sector. All while taking targeted action to inform high skilled visas to attract the best global talent. Skilled visas to attract the best globaltalent. I skilled visas to attract the best global talent. I announced a budget that we reviewed the banks surcharge. 0ur ongoing conversations have only reinforced my view that the combined Tax Rate on Uk Banking profits should not increase significantly from its current level. I intend to conclude the review as planned later this year. Just as the uk pioneered Paper Banknotes in the 17th century, the first regulated stock a change in the 19th, and at the first atm in the 19th, and at the first atm in the 20th, the third part of our vision for the uk at the forefront of Technology And Innovation in the 2ist of Technology And Innovation in the 21st century. To permit deduction of cutting edge technologies, we are taking forward the recommendations in the review of uk thin tech. Consulting on pioneering reforms to support the safe adoption of cryptic assets and stable coin, and watching closely the key debates in finance and tech, like the opportunities of distributed Ledger Technology in capital markets. While i believe in the power of new technology, we also need to manage its impact on our economy and society. We have led the way on an international agreement on digital taxation at the g7, a perfect example of our principles of economic diplomacy in action, which i will continue to push for at the g20 next week. We are protecting access to cash, consulting on new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. We will reaffirm the uks position as the best place in the world for green finance, the final part of our vision. We are giving the giving the public the opportunity to miss and at the governments green initiatives, through a world first green savings bond. We are issuing the uks Debut Solving Green Bond in september, with a framework published yesterday, committing us to the most ambitious approach of any major sovereign. We are launching new requirements for businesses and financial products to disclose Sustainability Information and creating a global market for high quality, voluntary carbon offsets. 0n at the international stage, as we push for Global Action ahead of cop26, we persuaded all the g7 economies to move towards making Climate Disclosures mandatory. A clear demonstration of International Cooperation, delivering tangible solutions to pressing global problems. So, more open, more competitive Thread Dark Studio the chancellor at Rishi Sunak speaking at Mansion House in the city of London. He sunak speaking at Mansion House in the city of London. The city of London. He announces what he describes the city of London. He announces what he describes as the city of London. He announces what he describes as planned the city of London. He announces what he describes as planned to l the city of London. He announces what he describes as planned to make britain the worlds most advanced financial sector. Britain the worlds most advanced financialsector. He britain the worlds most advanced financial sector. He talked about the £76 billion in tax each year thatis the £76 billion in tax each year that is raised by the sector in the uk, enough he said to pay for the entire Police Service and the entire state school system, 2. 3 million people employed in the sector. He cited the importance of the relationship of the united states, also the relationship with china, which he said need a fours a mature and balanced relationship. He says we need eyes wide open for its development but also need to be able to take a stance on issues that contradict our values. We had from the governor of the bank of England Andrew Bailey as well. He was saying that the rise in inflation will continue through the rest of the year, he says, there are that above the target, but year, he says, there are that above infections survey. The percentage for secondary School Pupil significantly lower in may than back in 2020. ,. ,. ,. ,. , in 2020. This data is new to me as the are in 2020. This data is new to me as they are to in 2020. This data is new to me as they are to me in 2020. This data is new to me as they are to me just in 2020. This data is new to me as they are to me just now. In 2020. This data is new to me as they are to me just now. I in 2020. This data is new to me as they are to me just now. I agree. In 2020. This data is new to me as they are to me just now. I agree it| they are to me just now. I agree it is surprising because in the month before it was very clear that the majority of children getting infected with those in the secondary school. If we had some more insight into whether these Isolation Policies actually had an end had might be able to answer the question why these figures had shifted. Overall, theyre not surprisingly high. Overall, theyre not surprisingly hiuh. ~ overall, theyre not surprisingly hih. , overall, theyre not surprisingly hiuh. ~. , overall, theyre not surprisingly hiuh. ~. , high. We are getting something from our head of statistics, high. We are getting something from our head of statistics, allow high. We are getting something from our head of statistics, allow me high. We are getting something from our head of statistics, allow me to i our head of statistics, allow me to read this out to you and our years. Robert is suggesting that the rate of positive tests looks really low in secondary schools, but they are only testing pupils who were in school on the day of testing. If you are isolating, you are not in, ruling out kids with covid symptoms or their close contacts. Clearly at that does skew the results, it is not the full picture in other words. There are some studies going on trying to figure it out that if you are testing on a daily basis whilst you were in isolation, those results would be quite revealing. At the moment, for every child that i sent home with covid, only 20 kids go into home isolation, clearly causing a huge of disruption. Me into home isolation, clearly causing a huge of disruption. A huge of disruption. We saw yesterday a huge of disruption. We saw yesterday the a huge of disruption. We saw yesterday the news a huge of disruption. We saw yesterday the news that a huge of disruption. We saw. Yesterday the news that ahead a huge of disruption. We saw yesterday the news that ahead of the winter and particularly ahead of what is expected to be a worse than usual flu season, that is a plan for a covid Booster Programme for the Over 50s and anyone under 50 who would qualify for a flu jab. Given that, why do you think children fit into this picture around the question of vaccination . Obviously vaccinatin question of vaccination . Obviously vaccinating Teenagers Question of vaccination . Obviously vaccinating teenagers has question of vaccination . Obviously vaccinating teenagers has been. Question of vaccination . Obviously vaccinating teenagers has been on J Vaccinating Teenagers has been on the agenda, thejcvi has not quite given its opinion on this yet. We need to make sure we have sufficient data from the real World Roll out from other countries to justify this vaccine to the children. There is no indication at this point that it is not safe but we need to weigh up the risks and benefits. Children would not be a priority until i believe until we have given a second dowser to the most vulnerable population and the adults, that figure currently stands at 66 . I think many to come good on the promise of getting to do say so we have maximum protection against laid out environment. It is obvious that two dosesis environment. It is obvious that two doses is needed for that. I think to some Degree Prioritisation and the vaccine should always go to those who need it the most. Children do suffer from covid and they do need to be protected at some stage as well. They also contribute to transmission to some degree but no more than adults. More than adults. What are your thou~hts more than adults. What are your thoughts on more than adults. What are your thoughts on at more than adults. What are your thoughts on at the more than adults. What are your thoughts on at the idea more than adults. What are your thoughts on at the idea mooted | more than adults. What are your l thoughts on at the idea mooted by the government than rather than sending children who has been in contact with someone who has tested positive home to self isolate, they should take a lateral Flow Test every day for those ten days or whatever number of days it might be of isolation, and if that test is negative, go into school as normal. Would you be supportive of that . This is that the study currently going on, we will have those results very soon, and i think that is a reasonable way forward. The majority of children who are sent home never turn out to be covid positive. To the blistered question, the boosters will not be given to children because they have not even had their primary round of immunisations yet. When that they need them, because they actually make very good antibodies, is another question. Again, children would not be a priority for which there is at this point. Priority for which there is at this oint. ,. , ~ priority for which there is at this oint,. ,. , ~. , priority for which there is at this oint. ,. ,. ,. , point. You talk about Fair Distribution point. You talk about Fair Distribution of point. You talk about Fair Distribution of vaccines i point. You talk about fair i distribution of vaccines was point. You talk about Fair Distribution of vaccines was that there is always that question of equity Around The World and whether children should be in line for vaccines ahead of adults in other parts of the world. It is vaccines ahead of adults in other parts of the world. Parts of the world. It is really important parts of the world. It is really important we parts of the world. It is really important we keep parts of the world. It is really important we keep a parts of the world. It is really important we keep a global l important we keep a global perspective here. There is about 2 of the population vaccinated in africa. We need to keep an eye on about the pandemic is moving because at this about the new variants will arise, so that should be a priority. At least there has been some progress in committing doses to the scenario. It shouldnt be a question of either or, it should be we need to implement. The numbers are fairly insignificant in the teenage programme compared to doses needed globally. More is needed. Thank programme compared to doses needed globally. More is needed. Globally. More is needed. Thank you, rofessor. Princes William And Harry, will unveil a statue of their mother, Princess Diana later today, On What would have been her 60th birthday. Itll be the first time the brothers have seen Each Other since the funeral of their grandfather the duke of edinburgh. Our royal correspondent, daniela relph, reports. In place, but hidden from view until its unveiling this afternoon. The statue of Diana Princess of wales will stand here in the Sunken Garden of Kensington Palace. It was a favourite location of dianas. Over the past two years, the layout of the garden has been redesigned and replanted to create a calmer and more reflective setting for the statue. It was commissioned by Princes William and harry to mark the positive impact their mother had during her life. Theyve been involved at every stage, to ensure the statue captures their mother in the way they remember her. Yesterday, harry, fresh out of Self Isolation afterflying in from california, was a Surprise Guest at a Charity Event with seriously ill children. Another reminder of the kind of work his mother did. Today will be filled with emotion for her sons. I think the statue is another form of legacy. Its celebrating everything that she stood for, for the 36 years that she lived. It will capture the thoughts of her sons around her. I think that will be hugely, that will be so meaningful. The statue has been created by sculptor ian rank broadley. His work, a major part of the national Memorial Arboretum in staffordshire. He already has a royal connection as well, having designed the image of the queen that appears on all our coins. Oh, my god. Get this on camera. You forgot your boots the days of banter and teasing between William And Harry are gone for now, amid family conflict. Their relationship remained strained. The tension lingers between them. Our british royal family is not supposed to be a perfect family. If somehow out of this split comes some kind of reconciliation, that will presumably hold a lesson for all of us. Many around them hope that under the gaze of their mother today, there is a chance of some reconciliation. Daniela relph, bbc news. The bbc� s royal correspondent, sarah campbell, joins me now from Kensington Palace. Clearly at the brothers would want the focus to be on their mother today. Of statue commissioned by them back in 2017. A lot has gone on since then. Inevitably, there will be a focus on the relationship between the Brothers Today and how that appears . You between the Brothers Today and how that appears . That appears . You are absolutely riuht. The that appears . You are absolutely right. The focus that appears . You are absolutely right. The focus will that appears . You are absolutely right. The focus will be that appears . You are absolutely right. The focus will be on that appears . You are absolutely right. The focus will be on diana, i right. The focus will be on diana, this would have been her 60th birthday today. This was a statue commissioned by William And Harry at the beginning of 2017, which seems like more than four and a half years ago when you think about what has happened since then. Due to covid, there are changes. The unveiling perhaps would have happened a year earlier than it would have done. The numbers would have always been limited for the ceremony, but they might be even more limited than they might be even more limited than they might have been. We know very little about the ceremony happening this afternoon. Obviously, William And Harry in attendance, also close members of dianas family, we assume that to be her siblings. The sculptor, the Garden Designer and a couple of people from the Design Committee will be there. It will be very small, a private affair. Two cameras will be allowed in, it will not be broadcast live. I think the pictures will be poured across by broadcasters across the world. Yes, it is about diana, but people will also be looking at the relationship between William And Harry stop this will be the first time they have met since their grandfather . A comical Funeral Back in april. They note that has been bad blood, comments made, it has been a difficult time. When we think about the closeness of William And Harry, certainly when this is was commissioned, they issued a joint statement talking about the positive impact diana had across the uk and Around The World, it seems like a very different times now. The statue itself, they hedges behind me, that is the Sunken Garden. The public will not be able to see today because Kensington Palace is close to the public because of this event. From tomorrow, when Kensington Palace is open, people will be able to walk around, you might be able to see into the Sunken Garden and see that statue. The Design And Look of it, we will have to wait until this afternoon when it is unveiled. Now its time for a look at the weather with carole. Hello again. The area of low pressure that has brought cloudy and wet conditions in the southern and Eastern England is now pulling away. For the next few days, sunny spells and a few showers, but they will be few and far between today. Low pressure on the near continent still having a little bit of influence in Eastern England, hanging on to a bit of cloud but not much of a breeze. There are murky conditions in areas thanks to the coastline, we could see some mist on the coastline of Sussex And Kent later. There will be a lot of dry weather and sunshine, and itjust a few showers. Temperatures in the sunshine getting up temperatures in the sunshine getting up to 22 degrees. Under the cloud and eastern areas, they will be lower. The cloud to be thick enough for some drizzle. At wimbledon today, the 10 risk of shower. Tomorrow, that risk increases to 2030, tomorrow, that risk increases to 20 30, then tomorrow, that risk increases to 2030, then it tomorrow, that risk increases to 20 30, then it goes up during the course of saturday. 39, we eventually lose our showers, there will be clear skies, but also a return to mist, low fog and some cloud. A chilly night. Most of us are going to stay in double figures. Tomorrow, hardly an ice about on the chart, but a new area of low pressure. Tomorrow we start off with a fair bit of cloud, some murky conditions, a lot of that will break, we will see bright sunny skies. As temperatures rise, more showers will develop, some could be heavy across eastern parts of england and scotland. Into the weekend, things they become more unsettled as an area of low pressure and its fronts come our way. Saturday, they come in south west, pushing north eastwards, taking The Rain and showers with them. Into sunday, more showers coming our way, quite widespread showers, some could be heavy. As a result, the temperature will be a bit lower than the next couple of days. In a word, is unsettled. This is bbc news. These are the latest headlines in the uk and Around The World. Nissan announces a major expansion of electric Vehicle And Battery production in northeast england, Bringing Thousands Of Newjobs to the region. I mean, some of the employees, their father worked here, they retired from here. Their son is working here. They are so proud of working here, so why not prepare generation after generation in sunderland as a part of the family . And this is what we are going to do. Uk employers will have to bear more of the costs of furlough from today as the government starts to wind down its job support scheme. The Chancellor Rishi Sunak rules a signifcant out Tax Increase for Uk Banks and says hell make the uk the most Advanced And Exciting financial Services Hub in the world