Above that level of poverty according to the un. Today is the United NationsInternational Day for the eradication of poverty, something Global Leaders committed to do in 2015 that established the uns Sustainable Development goals. So, why is solving global poverty proving so difficult . Joining me now is Luis Felipe Lopez calva, global director for poverty and equity at the world bank. A very warm welcome to the programme. This is such a big issue and we have a few minutes in the world of television which is not enough time, but in your opinion, why is this problem getting worse and not better . ~ problem getting worse and not better . , ~ ,. ,. Problem getting worse and not better . , ~ ,. ~ , better . Thank you very much. As ou ve better . Thank you very much. As you very well better . Thank you very much. As you very well explained, better . Thank you very much. As you very well explained, the you very well explained, the world agreed that poverty would be our objective number one in terms of its eradication in 2015, and today, that is out of reach. Today, if we update the poverty level, it is actually because of inflation and so on, it is 2 per person per day, and we have 700 Million People living under that line 2. 15. But we take a bit of a higher standard which we use for the upper middle income countries, which is still a relatively low standard, which is 6. 85 dollars per person per day, almost half is under that level, so that is 47 of the world population, and i have to say that in the last decade we have really moved in the right direction, lifting about1 direction, lifting about 1 billion direction, lifting about1 billion people out of poverty, but certainly, there was a slowdown and the covid 19 crisis and the sequential shocks that we have faced have really affected our capacity to move in that direction. Business as usual is not going to work. We have two think different. To work. We have two think different to work. We have two think different. ~. , different. Also, of course, the im act different. Also, of course, the impact of different. Also, of course, the impact of the different. Also, of course, the impact of the climate different. Also, of course, the impact of the Climate Crisis. Different. Also, of course, the impact of the Climate Crisis is | impact of the Climate Crisis is really exacerbating the problem, isnt it, when it comes to the global property, the problem of drought, etc, the problem of drought, etc, the war in ukraine, if you add to that as well, in terms of the challenges facing Global Leaders in impacting this in a positive way. Leaders in impacting this in a positive way leaders in impacting this in a positive way. Absolutely. You are exactly positive way. Absolutely. You are exactly right. Positive way. Absolutely. You are exactly right. There positive way. Absolutely. You are exactly right. There are i are exactly right. There are two main things we have to do for the one is to lift the capacity, i mean, the constraints of the capacity of those who are in poverty to be more engaged productively, to generate income and to be able to have all the access to services while also we have to ensure them against shocks. Today, around 230 Million People who are in the condition of poverty are exposed to the climate related shocks, but not only that, almost 500 Million People would fall into poverty because of those shocks. So we need to invest in the poor, but at the same time, protect them to fall back into poverty once they are out of that condition, and that involves a very proactive policy on the side of government and the international community. Thank ou so international community. Thank you so much international community. Thank you so much. As international community. Thank you so much. As i international community. Thank you so much. As i say, international community. Thank you so much. As i say, i international community. Thank you so much. As i say, i wish i you so much. As i say, i wish we had more time to discuss this further, but thank you again. And it is the uns day for the eradication of poverty. Lots of detail on their website about what they are doing in a mission to achieve that. Well, lets focus on the uk now, and what people are earning amidst The Cost Of Living crisis. In a few hours, well get the latest data on pay growth and an idea of how Thejobs Market is faring with the number of vacancies and jobs. But the unemployment and employment rates will now not be published until next tuesday. Neil carberry is Chief Executive of the recruitment and employment confederation. Good morning to you. Now, last week you came out with your latest data on Job Vacancies in particular, which showed for the first time in 2. 5 years in september a reduction in hiring. Talk us through what is going on from your perspective. What we saw last week was the first drop in new vacancies taken on for a long, long time, although actually permanent hiring in the uk has been dropping for most of this year in the face of low demand in employers markets. Growth has been low in the uk and that is a picture we have seen across many of the developed economies. What has offset that p economies. What has offset that up until now is we have had a relatively healthy market and thatis relatively healthy market and that is what happens when employers can see demand but i cant quite see sustainable demand because the economic picture more broadly is challenging. Right now, businesses are saying to us we actually feel quite confident about our own business but worried about the broader economy so we hope we see a turnaround in the next few months. � turnaround in the next few months turnaround in the next few months. �. ,. , months. And i have to say i talk business months. And i have to say i talk Business Leaders months. And i have to say i j talk Business Leaders pretty often and they are saying the same thing to me, but actually, they are very concerned about they are very concerned about the outlook, the picture for the outlook, the picture for the uk economy Going Forward, and that is impacting their Decision Making at the moment, and yet, they are under pressure to increase wages because of condition for the staff they want. Staff they want. Yes, absolutely, staff they want. Yes, absolutely, and staff they want. Yes, absolutely, and thisl staff they want. Yes, absolutely, and this time last yeari absolutely, and this time last year i would have been sitting here telling you it was a Labour Market driving wages up, that companies were competing for scarce skills and scarce labour supply. That is still true in some sectors. If you look at hospitality or logistics, but more broadly what is driving wages up is companies trying to offset some of the impact of inflation on staff, and that is what we have seenin staff, and that is what we have seen in the official data that is coming out later this morning, we have seen that the effect of that and a very High National minimum wage rise in april coming through and lifting wages up to in line with inflation now that inflation has dropped david. All right. Thank you for getting up so early once again. When we get the data from the office for National Statistics we will update you on the uk Labour Market. If we look at the economy in more detail. There is no room for tax cuts or spending increases before an election the Institute For Fiscal Studies is warning the chancellor. In its annual health check of uk tax, spend and borrowing the ifs concludes the country is in a horrible bind. Justin urquhart stewart, founder of the Investment Platform regionally joins me now. Good morning to you. I am not surprised to hear that. Are you . Surprised to hear that. Are ou . ,. , � surprised to hear that. Are ou . ,. , � surprised to hear that. Are ou . , you . No, it shouldnt come as a surprise you . No, it shouldnt come as a surprise i you . No, it shouldnt come as a surprise. I was you . No, it shouldnt come as a surprise. I was hoping you . No, it shouldnt come as a surprise. I was hoping to you . No, it shouldnt come as a surprise. I was hoping to hear. Surprise. I was hoping to hear some slightly better news. Here we are 13 years after we had a government come into power where you have to have a government which is going to take Emergency Action to sort out the economy, there wasnt any money, and we are in the same position. In those days we had magic money, you had Quantitative Easing but now we have done it but once, we have only twice. You cant do that again. What will happen this time, the government is stuck. What you can do is probably try and give some incentives to companies to actually say, invest now, and pay less tax in the future. It cant give away any more money. You look at the amount of interest they are paying, it normally would have been five or six years ago, £50 billion a year, the same as our defence budget, slightly more. This year is 115 billion pounds, and the only other budget larger than that is the nhs. That Isjust Budget larger than that is the nhs. That is just on budget larger than that is the nhs. That isjust on interest alone, and with high inflation, im afraid it is a difficult position for any government. Yet we have the autumn statement, budget coming up fairly soon and i am sure the chancellor and the Prime Minister are a busy looking at all the numbers right now to see what traits they can have in their four voters. In their four voters. There will be some in their four voters. There will be some pretty in their four voters. There will be some pretty stale | will be some pretty stale biscuits, but what they can try and do is try and give them confidence to say it is not good now but it will be better in the future by encouraging investment domestically and internationally. They can do that by giving not tax breaks, but say we will give you more money back, but if you invest in us, you wont hope to pay tax on that or any money you make in the future. It sounds much more positive. You have to give people a magic word. It is called compliments. Tasha confidence. Confidence. Thank you. If you like the data and the numbers, i am going to. Iwant to and the numbers, i am going to. I want to say tweet i will x the story later. I will do that later. Let us bring you some other business stories. The social Media Network linkedin has announced a new round ofjob cuts affecting its engineering, talent and finance teams. Around 670 roles will be affected about 3 of its workforce. Linkedin said in a statement that cuts were a difficult, but necessary and regular part of managing business. It already closed more than 700 jobs in may. Snap shares jumped 11 on monday following a report saying the Company Expects to have more than 475 million daily active users in 202a. Thats well above wall street expectations. If those estimates turn out to be accurate, that would come as a relief for the snapchat parent that has been struggling with tough competition and a weak advertising market. The uk aerospace and Defence Company rolls royce is preparing to cut around 2,500 jobs as part of a major Restructuring Programme according to reports by sky news. The cuts represent almost 6 of the companys Global Workforce of 42,000. The job losses will mainly affect non engineering staff worldwide. Rolls royce is not commenting on these reports just yet. Australia has plans to end the exploitation of migrant workers, but the problem could be bigger than it seems. We will have more injust we will have more in just a moment. Around the world and across the uk, this is bbc news. Bbc news bringing you different stories from across the uk. It is the worlds first tekno autosport, wearing a handset, three Players Per Team trying to hit their opponents as many times as they can during intense 82nd matches. Put times as they can during intense 82nd matches. Put it on our intense 82nd matches. Put it on your head intense 82nd matches. Put it on your head like intense 82nd matches. Put it on your head like this. Intense 82nd matches. Put it on your head like this. That intense 82nd matches. Put it on your head like this. That might l your head like this. That might need one to think this is all virtual reality. It doesnt use vr. It uses ir and that means you still see the real world, there is no disconnection of any kind from reality. We are adding graphics to the real world with you. Adding graphics to the real world with you. These players are from a world with you. These players are from a College World with you. These players are from a College In World with you. These players | are from a college in stratford trying out had over the first time. ,. Trying out had over the first time. ,. ,. ,. ,. , time. You have to adusted for sure because h time. You have to adusted for sure because you time. You have to adjusted for sure because you dont time. You have to adjusted for sure because you dont want i time. You have to adjusted for| sure because you dont want to make a fool of yourself if you dont just let you make a fool of yourself if you dontjust let you have to make a fool of yourself. A fool of yourself. There can be only one a fool of yourself. There can be only one winner. A fool of yourself. There can be only one winner. And a fool of yourself. There can l be only one winner. And they will take part in a special fundraising show for Children In Need next month. Foremost rose from in need next month. Foremost rose from across in need next month. Foremost rose from across the in need next month. Foremost rose from across the uk, in need next month. Foremost rose from across the uk, headj rose from across the uk, head to the bbc news website. For more stories. Hello again. Youre live with bbc news. Turning to australia, and plans there to stop the exploitation of migrant workers. A recent report shows one in six are paid lower than the National Minimum wage. But the cases often go unreported, mainly out of fear from the migrants that theyll be punished for breaching their visa rules. Phil mercer has more from sydney. An army of temporary workers helps to keep australias economy moving. More than 1. 5 million migrants are on short Term Employment visas. Many are International Students and backpackers. Some are exploited by unscrupulous bosses. Camillo is from columbia. For months he was underpaid working in hospitality in sydney. They exploit me because i do not really know my rights in that moment. They look at me like an idiot, why are you paying less than other staff . It is not because of me, it is because of them, they are doing things wrong, not me. 0verseas workers often fear that if they complain they will be reported by their employer and get into trouble with immigration authorities. Migrants are extremely vulnerable when it comes to wage theft. Most of them do not understand the legal system and they fear that reporting the situation that they have been exploited may lead to Serious Problems such as visa cancellation. The government wants the new laws to give migrants more protection and to make it easier for them to speak out. But as it stands, employers, who exploit their staff, are rarely caught and it is not just a problem for migrants. It is estimated that between three and 9 of all workers are paid below the minimum wage. Exploitation has been identified in many sectors including agriculture, hospitality and construction. Prosecutions for wage theft in australia are rare. For some companies, Workplace Abuse is lucrative. Many of the businesses that we expose have a Business Model based on exploitation. They know they can get these young people in, a below minimum rate and i think it trashes our reputation. There are people who say do not go to australia, go to canada and get paid better. Proposed new laws would make it a criminal offence to deliberately underpay workers but Business Groups say the changes would punish companies who make honest mistakes over wages because of complex employment regulations. It is estimated that wage theft is costing workers in australia more than 540 million a year. Phil mercer, bbc news, sydney. Now, if you were watching us this time yesterday, you would have heard that there are big events taking place in china this week to mark 10 years since china kicked off its belt and road ambition a massive Infrastructure Project designed to Link Beijing With Asia and the rest of the world by following the old silk road. These are all the countries that have signed up. Its been a massive undertaking with some winners and losers. 0ur Asia Business correspondent nick marsh has more. The first thing you need to know about the bri is the sheer scale. In the last ten years more than 145 countries have signed up, three quarters of the world population, over half of the total wealth of the globe. Now a bri project could be a railway in kenya, a port in sri lanka, a bridge in the maldives. The largest project so far has been the china