Browse content similar to 01/10/2013. Check below for episodes and series from the same categories and more!
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news with Sally Bundock and World Business Report. Closing time at | :00:00. | :00:27. | |
news with Sally Bundock and World lawmakers fail to avert a shutdown | :00:27. | :00:29. | |
implications. Shutdown, for the of the world's biggest economy. | :00:29. | :00:44. | |
implications. Shutdown, for the first time in 17 years, the US | :00:44. | :00:45. | |
government closes its doors; markets around the world brace themselves | :00:45. | :00:49. | |
business confidence rises in Japan, Shinzo Abe prepares to raise taxes | :00:49. | :00:52. | |
for the first time since 1997. Welcome to World Business Report. | :00:52. | :01:01. | |
I'm Sally Bundock. Shutdown in the US, at midnight the deadline to | :01:01. | :01:04. | |
I'm Sally Bundock. Shutdown in the a partial closure of government | :01:04. | :01:07. | |
thousands of federal workers will not be able to go to work today | :01:07. | :01:10. | |
thousands of federal workers will those that chose to head to the | :01:10. | :01:14. | |
office will not be paid. —— choose. Parks will be closed, passport | :01:14. | :01:17. | |
offices shut and taxes uncollected. Previous shutdowns have cost America | :01:17. | :01:19. | |
dearly, some say over $1 billion last time it closed 17 years ago. | :01:19. | :01:23. | |
But this time the political deadlock seems deeper than before. And when | :01:23. | :01:28. | |
largest economy closes its doors, the economic impact is global. | :01:28. | :01:30. | |
Samira Hussain reports from New As the clock struck midnight and | :01:30. | :01:39. | |
lawmakers inside were unable to As the clock struck midnight and | :01:39. | :01:43. | |
a budget, the American government is shutdown will have a very real | :01:43. | :01:51. | |
economic impact on real people right away. Past shutdowns have disrupted | :01:51. | :01:56. | |
the economy significantly. This away. Past shutdowns have disrupted | :01:56. | :02:02. | |
would too. It would throw a wrench into the key is of our economy at a | :02:02. | :02:05. | |
of the economy. It is a government shutdown. All indications are that | :02:05. | :02:58. | |
The US government therefore goes into default on those debts. No | :02:58. | :03:06. | |
concede that the government would allow itself to do that but still | :03:06. | :03:12. | |
everyone does feel as if they are sitting on pins and needles. There | :03:12. | :03:18. | |
won't do terrible damage to the economy but if it continues for | :03:18. | :03:26. | |
reached, a political calamity could very easily turn into an economic | :03:26. | :03:27. | |
We are seeing gains on the Japanese market. Hopefully we will have more | :03:27. | :03:52. | |
on this in the programme as it progresses. Let's talk about this | :03:52. | :04:03. | |
man. Shinzo Abe is set to unveil his latest policy on tax and the economy | :04:03. | :04:05. | |
today. Many now expect the plan latest policy on tax and the economy | :04:05. | :04:08. | |
finally include an unpopular rise in sales tax after a survey showed | :04:08. | :04:11. | |
finally include an unpopular rise in manufacturers confidence was at | :04:11. | :04:14. | |
finally include an unpopular rise in six year high. The government has | :04:14. | :04:14. | |
previously hinted the tax could six year high. The government has | :04:14. | :04:18. | |
public debt, the world's largest. April, and then to 10% in 2015. | :04:18. | :04:30. | |
public debt, the world's largest. But it could also mean people start | :04:30. | :04:32. | |
the budget? Were you specifically on There is obviously a lot of conflict | :04:32. | :05:21. | |
that is happening right now. Here is what clear. The American people | :05:21. | :05:24. | |
don't want to shut down and frankly I don't want to either. They are not | :05:24. | :05:31. | |
ready for Obama curve away it is currently configured. We need those | :05:32. | :05:42. | |
two things to come together. And elimination of the programme is | :05:42. | :05:47. | |
two things to come together. And realistic rate now. We're willing to | :05:47. | :05:50. | |
take a one—year delay now though we have sought shifted away from that | :05:50. | :05:56. | |
refuse to go on with that... Saying Congress live under the way it was | :05:56. | :06:06. | |
written. And we are seeing the Democrats in the Senate refusing to | :06:06. | :06:14. | |
fairness for the American people. Who are you talking about? There are | :06:14. | :06:21. | |
to get affordable healthcare. The middle classes and the wealthy | :06:21. | :06:38. | |
Americans? We are talking about middle class and lower middle class. | :06:38. | :06:45. | |
The 27 year old male is going to see an insurance premium nearly double. | :06:45. | :06:54. | |
agreed it is a big enterprise. It is A female is going to be slightly | :06:54. | :07:23. | |
agreed it is a big enterprise. It is make it affordable to the masses is | :07:23. | :07:27. | |
not an easy transition and it will be costly. The Democrats argue that | :07:27. | :07:32. | |
as a price worth paying. How do be costly. The Democrats argue that | :07:32. | :07:41. | |
see healthcare in the future? The president promised that if you like | :07:41. | :07:45. | |
your doctor you would be able to keep him, we are finding out that | :07:45. | :07:53. | |
isn't true. For the average family, their medical insurance deals will | :07:53. | :08:03. | |
increase by $2500. That is the wrong direction that we need to go. We | :08:03. | :08:10. | |
need to make sure we have affordable accessible. We are driving the | :08:10. | :08:16. | |
economics out of their in a way accessible. We are driving the | :08:17. | :08:21. | |
we are not going to have people accessible. We are driving the | :08:21. | :08:23. | |
want to deliver the healthcare either. It is going in the opposite | :08:23. | :08:30. | |
direction, it is becoming more than teeth and less accessible. Thank you | :08:30. | :08:34. | |
Bill. State of Michigan is the one teeth and less accessible. Thank you | :08:34. | :08:46. | |
Bill. State of Michigan is the one he is in charge of. We will discuss | :08:46. | :08:51. | |
it more when we review the papers. Back to Shinzo Abe Bay. For more, | :08:51. | :09:02. | |
Professor of Economics at Keio University in Japan and government | :09:02. | :09:12. | |
advisor. He is in Tokyo, not in Singapore. Put this in perspective | :09:12. | :09:20. | |
of those watching around the world. economy? It is about 220, much | :09:20. | :09:36. | |
higher than other countries. Make the market people feel confident. | :09:37. | :09:42. | |
The Prime Minister is going to reduce our budget deficits. Increase | :09:42. | :09:49. | |
of the sales tax might encourage consumption. In 1997, Japanese sales | :09:50. | :10:07. | |
tax increased from 3% to 5%. I am very afraid that the same thing | :10:07. | :10:17. | |
tax increased from 3% to 5%. I am happen. In other words, the huge | :10:17. | :10:17. | |
consumption will be accelerated happen. In other words, the huge | :10:18. | :10:24. | |
before. You have concerns about happen. In other words, the huge | :10:24. | :10:28. | |
move. You think the strength of happen. In other words, the huge | :10:28. | :10:34. | |
economy that we have seen is showing signs that this is working? That | :10:34. | :10:37. | |
this latest move will be a success eventually. ? The damage of the | :10:37. | :10:53. | |
economy will be mitigated. Shinzo Abe Bay will rip... That would be | :10:53. | :11:12. | |
very good news. Thanks. I will see | :11:12. | :11:18. |