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Transcripts For BBCNEWS World Business Report 20240707

market after government borrowing costs soar to a 20 year high. no end to the strong dollar. us interest rates are going higher and staying there for longer, according to policymakers at the federal reserve. also coming up: digging ourselves into a hole. how climate change is threatening the world s soil and our future food supply. we start here in the uk, where pressure is growing on prime minister liz truss and chancellor of the exchequer kwasi kwarteng to rethink their economic plans. financial markets have been in turmoil since they promised £45 billion worth of tax cuts funded by borrowing in a mini budget statement on september 23rd. the chancellor is due to set out how he will fund the package and reduce debt at the end of the month. facing questions in parliament on wednesday, the prime minister ruled out scrapping her tax cuts, but said spending on public services wouldn t be cut either. we are spending almost £1 trillion of public spending, we were spend ....

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Transcripts For BBCNEWS Ros Atkins On The Week 20240707

and in early september, it was the turn of liz truss. i am honoured to take on this responsibility. weeks later, at its annual conference, the tory party chair said liz truss was its greatest asset to win the next election. she is the woman who will get britain moving. that, though, is not going to happen any more. wow, one of the shortest lived premierships ever. i liz truss s time is over, when it had onlyjust begun. hello, welcome. well, this is unexpected. not, of course, being here for a new series looking at the biggest stories of the week, ijust hadn t necessarily factored in doing our first episode on the day the prime minister resigns. but here we are, and across next 30 minutes this is the story of the fall of liz truss. because it has been quite a week. hello, hi guys. we are probably still a few minutes late. 0h, are you? 0k. we will reverse almost all the tax measures. gone, gone. a complete reversal. gone, gone, gone. clearly trussonomics has gone. he has ....

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Transcripts For BBCNEWS BBC News at Ten 20240707

female prime minister, promising to deliver on pledges. i will deliver a bold plan to cut taxes and grow our economy. because, my friends, i know that we will deliver, we will deliver, we will deliver. as the cost of living hits crisis levels, with fuel bills breaking new records, labour says the conservatives are out of ideas, regardless of who s prime minister. after 12 years of a tory government, what have we got to show for it? people not being able to pay their bills, an nhs on its knees, and law and order completely broken down. tomorrow downing street will host two prime ministers. borisjohnson in the morning, liz truss in the afternoon. and we ll be asking what kind of prime minister liz truss is likely to be and what kind of government she will lead. also tonight. in canada police are searching for two men suspected of killing ten people in a remote northern area. and the duke and duchess of sussex are back in the uk, where meghan has been addressing a leadersh ....

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Transcripts For BBCNEWS World Business Report 20240707

so they really are looking for some political and economic stability. well, for now, markets are calm. but investors say any mis step in appointing a new leader could see the uk plunged back into financial crisis a place in uk political history as the shortest serving prime minster ever. she lasted just 44 days in office before announcing her resignation yesterday. but she s also contributed another record to the english language. the shortest lived economic catchphrase. we started using the term trussonomics just six weeks ago. a plan for a low tax, low regulation, high growth britain by liberated by brexit. with the phrase and its policies now on the scrapheap, our business editor simonjack takes a look back at the rapid rise and fall of trussonomics. can we afford these tax cuts, chancellor? the road to liz truss demise arguably started here the not so mini budget that she and her chancellor announced with great fanfare. and i commend it to the house. ....

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Transcripts For BBCNEWS BBC News 20240707

as the party reels from a bruising week and falling poll numbers. king charles will now not be at next month s climate change conference in egypt following reports that prime minister liz truss advised him not to attend. one of the world s worst stadium disasters. at least 125 people have died in a stampede at an indonesian football match after police tear gassed pitch invaders. football is by far the number one sport in this country and everybody loves it in this country so it s very difficult to see a future without it. theyjust have to get to the bottom of what happened, it should be safe, and people have to come home from football. brazilians are voting in the first round of an election which has seen a bitter campaign between past and present presidents. and kenya s amos kipruto and ethiopia s yalemzerf yehualaw win their maiden london marathon titles with breakaway victories in the elite men s and women s races there were more than 41,000 registered runners. ....

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