Browse content similar to 23/11/2016. Check below for episodes and series from the same categories and more!
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The UK's Finance Minister is poised to announce billions of pounds worth | :00:00. | :00:21. | |
of new government spending but is Britain's national debt pile | :00:22. | :00:24. | |
Grounded - Germany's Lufthansa cancels nearly 900 flights | :00:25. | :00:30. | |
as a last minute court bid to stop a pilot's strike fails. | :00:31. | :00:39. | |
Also in the programme Facebook woos China but at what price Mariko Oi | :00:40. | :00:46. | |
The UK's Autumn Statement - which is the budget - | :00:47. | :00:55. | |
will be announced in a few hours' time. | :00:56. | :00:58. | |
It's especially important this time because it's the first fiscal plan | :00:59. | :01:01. | |
that's been unveiled since the Brexit vote | :01:02. | :01:04. | |
and since Philip Hammond became Chancellor. | :01:05. | :01:07. | |
The UK leaving the European Union presents specific challenges | :01:08. | :01:10. | |
the government will have to face head on. | :01:11. | :01:12. | |
Well, the finance minister is likely to pledge increased | :01:13. | :01:17. | |
?5 billion or $6.2 billion is the number being mentioned. | :01:18. | :01:23. | |
That's modest compared to say Donald Trump's $1 trillion | :01:24. | :01:26. | |
Another area likely to get a cash infusion is research and development | :01:27. | :01:33. | |
?2 billion worth going to the industry, | :01:34. | :01:37. | |
which is being touted by the government as a long | :01:38. | :01:40. | |
Also there is expected to be something for the so-called | :01:41. | :01:44. | |
Jams - those people who are "just about managing" - | :01:45. | :01:47. | |
so perhaps increased benefits for working mums | :01:48. | :01:49. | |
and an increase in the lowest tax threshold. | :01:50. | :01:53. | |
But the money to pay for this has to come from somewhere. | :01:54. | :01:56. | |
The government is likely to borrow ?100 billion over the next five | :01:57. | :02:00. | |
years - about $124 billion dollars - to foot the various bills. | :02:01. | :02:06. | |
With me is Laurie Macfarlane - an economist from | :02:07. | :02:08. | |
Good morning. This is a critical one question that this is the first big | :02:09. | :02:24. | |
test for the Chancellor. It is his chance to set out his vision post | :02:25. | :02:30. | |
Brexit. The announcement comes at a challenging time. A forecast is | :02:31. | :02:38. | |
expected to show high inflation and slower growth. What will be | :02:39. | :02:42. | |
interesting will be to see if he uses this opportunity to show a | :02:43. | :02:48. | |
marked change in direction for the economy or chooses a more low-key | :02:49. | :02:54. | |
affair. Evidence suggests it will be the latter that he can be forgiven | :02:55. | :03:00. | |
because it is the first event since the leadership. He has less wiggle | :03:01. | :03:07. | |
room because of the problem of the lower growth forecast for next year | :03:08. | :03:12. | |
and beyond which means with much less revenue coming in, he really | :03:13. | :03:18. | |
does not have the money to spend? The Chancellor will be juggling | :03:19. | :03:24. | |
trade-offs between maintaining credibility with public finance and | :03:25. | :03:30. | |
the economy and also acting to stave off any down turn from a Brexit and | :03:31. | :03:37. | |
acting to address the key concerns addressed by voters in the | :03:38. | :03:41. | |
referendum campaign. Some are of the view he should be taking bold action | :03:42. | :03:47. | |
in public investment, critical housing. It is clear part of the | :03:48. | :03:53. | |
country have been airing their discontent for quite sometime. | :03:54. | :03:58. | |
Though the room for spending is lower than perhaps back in March for | :03:59. | :04:06. | |
George Osborne, he has crucially if he is investing in infrastructure | :04:07. | :04:16. | |
and R, it should help with finances and the economy. Many are | :04:17. | :04:22. | |
arguing it will be a lower key effect to keep the big guns for | :04:23. | :04:27. | |
maybe a budget just before an election in 2020 and the start of | :04:28. | :04:32. | |
Brexit negotiations where it is not clear how that will go and what that | :04:33. | :04:38. | |
will mean ultimately for the UK economy. He may have to invest more | :04:39. | :04:46. | |
in the latter budget? Exactly. We can expect a relatively low affair. | :04:47. | :04:52. | |
Apparently will be shorter than in previous years. He will be focusing | :04:53. | :04:56. | |
on domestic issues. He will be under some pressure to announce measures | :04:57. | :05:01. | |
to help the so-called James which are managing families. An increase | :05:02. | :05:07. | |
in personal allowance. Crucially, that does not do anything to help | :05:08. | :05:12. | |
the 5 million individuals who do not earn enough to pay income tax. And | :05:13. | :05:19. | |
passenger duties could also be looked at. Infrastructure... We have | :05:20. | :05:26. | |
heard there is going to be an announcement in roads and broadband | :05:27. | :05:31. | |
and perhaps one or two other big announcements. It is important to | :05:32. | :05:38. | |
say that the amount of money we are talking about is relatively small | :05:39. | :05:42. | |
but definitely a step in the right direction. Thank you for your time. | :05:43. | :05:47. | |
We are right across the Autumn statement and you will be able to | :05:48. | :05:52. | |
hear and watch it live and also here our analysis. | :05:53. | :05:53. | |
A court in Germany has rejected an appeal by Lufthansa - | :05:54. | :05:56. | |
in a bid to stop a 24-hour pilots strike. | :05:57. | :05:59. | |
The airline has cancelled about 875 flights today - | :06:00. | :06:01. | |
and that's affecting more than 100,000 passengers. | :06:02. | :06:03. | |
The union behind the industrial action says it now plans another | :06:04. | :06:06. | |
This will be the view at airports across Germany today. Rows of empty | :06:07. | :06:20. | |
Lufthansa planes parked up and going nowhere. An estimated 100,000 people | :06:21. | :06:27. | |
are affected by this two-day strike. This is a dispute that has been | :06:28. | :06:31. | |
running for more than two years. The pilot union want a 3.7% pay rise | :06:32. | :06:40. | |
dating back to 2012. Lufthansa is offering a 2.5% increase. In a | :06:41. | :06:47. | |
recent interview, the boss of Europe's biggest airline spoke about | :06:48. | :06:50. | |
challenging environment as they try to compete with budget rivals and | :06:51. | :06:57. | |
update their fleet. We have huge cost pressure and it has been an | :06:58. | :07:01. | |
issue for this industry for years and we cannot depend on the oil | :07:02. | :07:05. | |
prices remaining where they have been lately so that does not relieve | :07:06. | :07:10. | |
us from continuously working on efficiency and cost reduction. This | :07:11. | :07:16. | |
action comes just 24 hours after Eurowings, its low-cost subsidiary, | :07:17. | :07:22. | |
had to cancel 65 in a separate dispute with cabin crew is. Other | :07:23. | :07:28. | |
airlines will check to see if they can use larger planes to try to | :07:29. | :07:32. | |
accommodate some of the affected passengers. | :07:33. | :07:32. | |
Facebook has been working on a tool that would pave the way | :07:33. | :07:35. | |
for censoring certain content if the network was ever | :07:36. | :07:38. | |
to launch in China - that's according to | :07:39. | :07:40. | |
We have a black screen at the moment... It will seem we are | :07:41. | :07:58. | |
struggling to link up... That she is. What a relief. What is going on | :07:59. | :08:07. | |
with Facebook? It is based on a report in the New York Times. | :08:08. | :08:14. | |
Facebook did not exactly deny or confirm whether this censorship tool | :08:15. | :08:19. | |
does exist. But the New York Times article quotes are current and | :08:20. | :08:24. | |
former Facebook employee and they say it is still in the early stages | :08:25. | :08:29. | |
and might not become a reality but there has been quite a lot of public | :08:30. | :08:35. | |
reaction because while it takes out some content, Facebook, based on the | :08:36. | :08:41. | |
government requests are around the world, by giving... By creating this | :08:42. | :08:48. | |
kind of cool it is tactically giving away that control to a state and | :08:49. | :08:54. | |
that is quite significant. We will see if this is really true and if it | :08:55. | :09:00. | |
will materialise but there has been quite a lot of reaction online. | :09:01. | :09:02. | |
In other news: There are reports talks between Greece | :09:03. | :09:04. | |
and its international creditors were paused on Tuesday - | :09:05. | :09:07. | |
after Athens accused its partners of pushing for tough new cuts | :09:08. | :09:10. | |
which it said would be a social disaster. | :09:11. | :09:14. | |
It needs to reach agreement with eurozone lenders | :09:15. | :09:16. | |
and the international monetary fund by early December to unlock | :09:17. | :09:19. | |
The Japanese car maker Toyota is recalling more than 800-thousand | :09:20. | :09:26. | |
minivans in North America - over concerns the sliding doors | :09:27. | :09:29. | |
could open while the vehicle is moving. | :09:30. | :09:32. | |
The recall affects Sienna minivans from 2011 to 2016. | :09:33. | :09:37. | |
Toyota says it is still developing a fix for the problem. | :09:38. | :09:48. | |
That is not what you want to happen. Looking at markets. Oil prices | :09:49. | :10:02. | |
slightly down. Japan is closed for a holiday at so take no notice of | :10:03. | :10:07. | |
that. The market is grabbing all the headlines are in the US. All hitting | :10:08. | :10:14. | |
record highs. The Trump effects pushing up sharemarket in their US. | :10:15. | :10:20. | |
We will talk about that when we look at the papers in a moment. | :10:21. | :10:23. |