hello, a very warm welcome to the programme. let s start here in the uk where, in a few hours from now, the next leader of the conservative party and the uk will be announced. we won t officially know who that is until 12:30 bst but we do know for sure that whomever takes the reins will have a monumental task, both economically and politically. rising inflation and the high energy prices will be at the forefront of voters minds, while businesses will be keen to see stability and a commitment to economic growth going forward. our economics editor faisal islam has been looking at some of the immediate pressing issues. this is the economic reality facing the new prime minister. inflation at 10% and heading higher on these official forecasts. it may even go above 15%. five or even ten times target. in the general economy is already falling and heading for a 1990s style recession, according to the bank of england. the core of it all, energy prices. in international markets having
fiji, a country of more than 300 islands strung together in the pacific ocean. this is the economic and technology hub of the south pacific, and has one of the region s but in recent years, this island paradise, along with other countries in the pacific, have been battered by cyclones and extreme weather patterns, even as rising threaten to leave entire villages under water. and then came the pandemic. as borders closed and countries went into lockdown, fiji sought lucrative sea food and while its tourism sector all to map the way forward, pacific island leaders met face to face for the first time in almost three years in the capital of fiji tackled a regional approach to climate change, post pandemic economic recovery and as china expands its influence in the region, leaders will have to decide who will future of the welcome to surrounded by sea, it is no surprise that i have been talking to some fishing communities to find out the issues they are facing. 0n the journey to
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already always been a big part of the economy on this island, much of it is exported but labour costs are rising and soaring your cost so it is becoming more difficult for fishermen like this to continue to be profitable. the big question for businesses here is how to keep profits and move up the value chain. businesses and authorities alike agree that means investment. the islands should process means investment. the islands should process their means investment. the islands should process their own - should process their own resources. that will give maximum benefit to the people. not only in dollar bills but so in opportunities. not only in dollar bills but so in opportunities. getting more value from in opportunities. getting more value from smaller in opportunities. getting more value from smaller ocean - in opportunities. getting more| value from smaller ocean catch is key for islanders to deal with climate change and there is more appetite than ever among foreign inte
the bigger countries like fiji, which has a good superstructure, the resource of water, that we can work together to build factories that can benefit because it is bigger than allowing other countries just to fish and process their own bodies. produce. getting more value from a smaller ocean catch is key for islanders to deal with climate change. changing sea currents are redistributing tuna stocks around the region and there is more appetite than ever amongst foreign interest for a slice of the pie. pacific nations call themselves a family, tied together by a shared culture and way of life. if they are to have a fighting chance in the future, they will need to stand as one, now more than ever before. i have been told the man steering the