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extremist videos that influenced two mass killings in the united states. daniel harris was convicted of encouraging terrorism. us presidentjoe biden urges protesters in tennessee to remain peaceful after five former memphis police officers are charged with the murder of a black man, tyre nichols. good afternoon and welcome to bbc news. the chancellor, jeremy hunt, has been defending the government s record on economic growth. in a speech, he said there s too much gloom about the economy, and that the uk can be the next silicon valley with a network of investment zones, and brexit a catalyst for growth. but his speech follows recent warnings that thousands of british businesses face bankruptcy and a slump in the uk car manufacturing industry. this report from our economics correspondent, andy verity. uncertainty has made it really difficult to attract investment into the uk, and this is what we need to address. what we need is a plan. a growing chorus of business leaders ....
Of context for us? at the risk of soundin: of context for us? at the risk of sounding boring of context for us? at the risk of sounding boring academic i of context for us? at the risk of sounding boring academic as i of context for us? at the risk of i sounding boring academic as well, i wrote a paper about this and publish it about a year ago when inflation was quite dull and it became the big economic story of last year. which inflation number you take and the number of years over a big project makes a massive difference step 1% additional money over the 20 years of a project like this is an simple maths over 20%. we are talking 150 billion, 20% on that is enormous. i am old enough to remember when £1 billion was a lot of money and it turns out it still is. turns out it still is. interesting. do ou turns out it still is. interesting. do you think turns out it still is. interesting. do you think the turns out it still is. interesting. do you think the questions i turns out it ....
And i say simply this, declinism about britain it is just wrong. the key to the plan, half inflation, assure tax investment zones. tax breaks to attract investment. the verdict of overseas companies and executives is that britain is an extremely exciting country to invest and grow, and i think we should remember that and not get too sucked up in the latest economic statistics, because this is a difficult patch but we can get through it and there are tremendous opportunities on the other side. but inflation is forecast to half in the next year anyway, not because of anything the government is doing, but because global prices from oil and gas to shipping costs have been plummeting from last year s peaks, and jeremy hunt reversed his predecessor s decision to cut business and personal taxes. the only thing that will improve our growth prospects now is to get rid ....
Business saying we re going invest in skills and training and technology? all those things that make us better up? at the moment probably not. fine make us better up? at the moment probably not- probably not. one of the big things he was talking probably not. one of the big things he was talking about probably not. one of the big things he was talking about and probably not. one of the big things he was talking about and affects i he was talking about and affects everyone watching is inflation. he is everyone watching is inflation. he: is dead right, when we talk about what is holding us back, the huge surge in the cost of living over the past year, it has been a huge detriment to our fortunes and that means our money doesn t go as far, we can t expand, we are not feeling as well but ultimately what is, about this? on the chart promises has, having inflation is up there but the government told us all these months that inflation has been a global issue, caused by global factors, ....
Over the past year, it has been a huge detriment to our fortunes and that means our money doesn t go as far, we can t expand, we are not feeling as well off but ultimately what are they doing about this? 0n the chart of promises he has, halfing inflation is up there but the government told us all these months that inflation has been a global issue, caused by global factors, higher energy prices, higher food costs in the global stage. those of the kind of things that government couldn t do that much about on the way up, they can t do that much about on the way down, there are a few things that the bank of england can do with interest rates, there are various levers the government can pull but most of those have to do with things like public pay which they don t like talking about. but that is a thorny issue and the chancellor knows until he can get to grips with that and stop that being front and centre of minds it is very difficult to talk about the rest of this. the budget is coming u ....