Superhero movies. Today hes the new us Treasury Secretary, but has Steven Mnuchin got what it takes to balance the books of the worlds biggest economy . And confusion in tokyo. Toshiba shares go into meltdown after the japanese giant delays revealing its latest numbers following its new clear accounting scandal. Welcome to World Business report. Im aaron heslehurst. I know, it is on friday, it is tuesday. But im stuck here. In a moment the boss of ryanair, michael 0leary, tells us hes worried about the effect brexit will have on the airline industry. But first, in the last few hours, former banker Steven Mnuchin has been confirmed as the new Treasury Secretary. Asjobs go, its a very important one. Besides serving as the nations banker, paying its bills, collecting taxes and managing its debt, the secretary is also one of the leading regulators of banks and wall street. So how well do we think hell perform in this new role . Heres what we know about him. Hes been critised as a wall stre
It would raise the price. ainsley: wouldn t it encourage more people to make these products here in america? yes. in the long term it would. but in the short-term you pay higher prices. steve: now, stuart, i heard somewhere that the reason it s 20%, the border tax is because there is a 20% tax on things made on here in the united states. in and out 20 in, 20 out. it s an attempt to equalize the taxation overseas and taxation here. steve: that sounds okay to the average person. i think we are missing something here. this border tax proposal is a very big deal. until now, we tax income. what you earn is what gets taxed. in the future we would start to shift towards taxing what we buy, what we spend money on. consumption as opposed to income. somewhat similar that is a huge shift in the nature of taxation. not going to be popular universally. it raises prices. and, remember, poorer people who are paycheck to paycheck