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the value of the pound has dropped again today by nearly a percent against the dollar as investors digest the warning from the international monetary fund about the uk government s fiscal plans. the imf has openly criticised the plan for widespread tax cuts, warning the measures are likely to fuel the cost of living crisis and increase inequality. here s michelle fleury with more details in new york. one of the roles of the international monetary fund is to act as an early economic warning system, and it has just sounded the alarm over the uk s new tax and spending plans. in a statement, the fund warned, given elevated inflation pressures in many countries, including the uk, we do not recommend large and untargeted fiscal packages. even more pointedly, it suggested that the november 23rd budget presented an opportunity for the government to re evaluate tax measures, especially those that benefit high income earners. remember, as part of the uk treasury s policy to ....
tells me how it s a story of both american strength and the weakness of other economies. so how much stronger could the dollar get? i m going to ask this man right here, former us treasury secretary larry summers, if an international deal will be needed to curb its rise. also on the show, helping beat those queues at the airport. i m going to be speaking to the big boss of air transport data giant sita about the tech solutions driving the future of seamless travel. wherever you rejoining me from around the world, once again, a big hello and a warm welcome to the show. here s a quote. the dollar is our currency, but it s your problem. that s what the then us treasury secretaryjohn connally famously told some of his european counterparts back in 1971. and 50 years on, it seems as true as ever. us policymakers, they re trying to clamp down on the cost of living crisis and the impact of that? it s being felt all over the world. politicians and central bankers everywhere a ....
more now on the day ahead in the uk, and we could know as early as this afternoon who the next leader of the conservative party is and therefore our prime minister. as you ve been hearing, borisjohnson has pulled out of the contest, saying the time isn t right and would not lead to much needed party unity. this leaves two contenders former chancellor rishi sunak and the leader of the house of commons, penny mordaunt, with mr sunak currently the front runner. by 2pm this afternoon if penny mordaunt hasn t got 100 backers or more, then rishi sunak is in post. if both candidates are still in play, then mps vote to state their preference. let s take a look at how the markets are trading today during asian time. we have the dollar versus again, i was hoping to show you the pound but the detail is not on that particular screen, when i looked at it months ago the pound was buying just over $1 13 cents, fairly steady versus the dollar and up slightly versus euro. joining me n ....
suffer the most. also coming up: called to account. hundreds of uk post office managers were falsely accused of fraud because of faulty software. we look at role of the tech giant fujitsu in a massive miscarriage ofjustice. and the rugby league world cup kicks off today after a covid delay with the biggest sponsorship deal in the tournament s history. absolutely, 100%, iam not going anywhere. a defiant uk chancellor on whether he and the british prime minister will still be in theirjobs at this time next month. as you have been hearing, he has flown back early from iff meetings in washington for meetings with the pm. imf. washington for meetings with the pm. imf. they are expected to pause plans after weeks of economic crisis. people are panicked about the impact of billions of pounds of tax cuts funded by more borrowing on the u.k. s debt and on inflation and that sent government borrowing costs and mortgage rates are soaring and force the bank of england to come ....
officials. only the president and some members of his cabinet have access to them. let s bring in shawn turner, national security analyst and former director of communication for u.s. national intelligence. this reporting is quite interesting. what do you make of the idea that document like this was in a country club for 18 months? yeah, you know, when i saw this first of all, thanks for having me this morning. this really struck a chord with me, the fact that we now know that there were highly classified secret restricted access documents being stored at mar-a-lago, this is a game changer for our national security and risks to our national security. i ve been clear from the start that we need to avoid speculating about the intent with regard to these documents until we had more information about the substance of these documents. but now that we know that we re talking about nuclear defense capabilities for another country, this really raises the bar with regard to ....