07/06/2017 World Business Report

As we have a ready mentioned, it is the last day of campaigning in the

UK general election. Let's discuss that in more detail on World

Business Report. With voters feeling the pinch and

concerned about Brexit, we weigh up the economic policies of the main

parties. And going, going, gone: Uber swings

the axe and sacks 20 members of staff following an investigation

in to sexual harassment. Also in the programme, we have more

detail on the diplomatic row involving Qatar. What are the

economic and business implications? We will discuss that as well.

But first, there's just a day to go until voters in Britain head

to the polls for its second general election in two years.

Security has been a key issue in the campaign,

but as with anywhere else, prosperity and the economy

will by hugely important to how people vote.

But unlike anywhere else, the UK must contend with its decision

to leave the European Union.

Minimising the disruption to the economy is one of the most

divisive issues between the governing Conservatives

If we have a look back to the 2005 election, you can see the UK economy

has been gradually recovering since the 2008 financial crisis. That is

that very big get there. So grey has returned, pretty slowly.

For many businesses, Brexit spells considerable

The 29th of March 2019 is the current deadline for the UK

Without a trade deal in place firms on both sides face huge disruption.

One reason the government needs to maintain

growth is the UK's growing national debt.

This year it's expected to be 88% of GDP, which is higher

In the year to the end of March, the government

spent $67 billion or ?52 billion more than it took in.

The Conservatives say that they'll get this deficit back down zero

Labour says it wants to eliminate the deficit on day to day spending

in five years, but will borrow to invest.

Peter Dowd is a Labour politician and is currently

the Shadow Chief Secretary to the Treasury.

Peter, thank you for being on the programme. A critical day for you

and all of your colleagues. Looking at the Labour manifesto, many have

seen the great detail in the plans. Radical plans, radical changes, at

the scrapping of university fees. Minimum wage, free school meals, the

list is very long. Many have argued that you have some kind of money

tree. That is the conservative line. The Institute for Fiscal Studies are

concerned the numbers do not add up. I disagree with the Institute for

Fiscal Studies. What we have tried to do in our manifesto is set out

what our spending plans are going to be, and we have another document

which sets out how we're going to raise those figures. They out

clearly, it is a clearly costed manifesto, more so than the

Conservatives'. If the Institute for Fiscal Studies had a chance to look

at my figures -- our figures, and have disagreements, we stand by

them. One of the ways is raising taxes on those who earn ?80,000 or

more and increasing corporate taxes. On the point of raising income tax

for the higher paid, many would argue, actually, you can't really

guarantee what you will get in in terms of money on that, because of

course, people change their behaviour when taxes change, and

they get to a clever accountants that ensure they pay little tax.

Yes, what you need to do in that case is a couple of things. Firstly,

we have set aside in our figures about ?4 billion which gives us room

for manoeuvring in the context of people changing their behaviour. So

we have already accounted for quite a substantial amount of that. The

other aspect you have to do, and which Labour are doing, is you have

a tax avoidance plan going into the future, making sure that those

people who should be paying their taxes are actually paying them. We

already have at least, at least, a ?35 billion tax gap every year.

Labour want to close out by about ?6 billion. So we are only go for about

20% of the already huge tax gap, there. If a drug you briefly, many

look at the manifesto is a you punishing business. Others might say

you are helping small businesses. The increase in corporate taxes is

encouraging, and the increase in the minimum wage could be tricky for

some employers to deliver, particularly in the context of

Brexit. It will still be the lowest minimum wage in the G7. And our

productivity continues to be lower, and our investment, too. In terms of

the minimum wage, we will work with small business to help them, where

they cannot manage the gap. We have tax credits already which of many

companies and people trip reached the gap between what they own and

what they live on, and we will continue to do that. Peter Dowd,

thank you for joining us today. Part of the Labour Party.

And for more information, as we've said, on all the other

and their policies in the UK election, please go

website - the address is www.bbc.com/news.

And do stay tuned to BBC News for more live coverage.

You've just heard from the Labour Shadow Chief Secretary

Later, on Business Live, we'll be speaking

That is coming in just a few hours. Other business stories, now.

Ride-sharing service Uber has fired 20 of its staff as part

of an investigation into sexual harassment and other problems around

The company launched an investigation in February

after former employee Susan Fowler wrote a blog post detailing

what she said was systemic sexual harassment and gender bias

Our North America technology reporter Dave Lee has more.

After a former employee outlined a range of serious allegations about

sexual harassment and a hostile work culture, Uber set up a hotline for

employees to raise issues. In the last three months, 215 claims were

made. The complaints covered things like dissemination, sexual

harassment, bullying, and even physical security. 115 of those

claims were followed up, leading to 20 dismissals. Seven members of

staff were given final warnings, and others were put into training

programmes. There are 57 cases still being looked at. The names of the

five employees have not been made public, but the BBC understands at

least one senior executive at the firm was dismissed. News of the

sackings were delivered in a companywide meeting on Tuesday.

Uber's chief executive was not in attendance. He has been spending

time with his family, following the recent death of his mother in a

boating accident. A broader report into the culture at Uber is expected

next week. The boss of Tesla says that

new buyers of its highly anticipated Model 3 will have to wait

until the end of next year before they can take delivery

of their new car. Tesla has been accepting deposits

of $1,000 for the Model 3 and the company has been

aggressively raising funds to help Shares of Adani Enterprises jumped

nine percent in Mumbai on Tuesday after news that the Adani Group is

going ahead with its controversial Adani will break ground

at its Carmichael mine and rail Just to say that we are looking at

the situation with regards to Qatar and their dispute with Saudi Arabia

and other countries. All the detail on that to come. This is a brief

look at the market. A flat, next session. Investors were keen to stay

cautious this side of an election in the UK. I will see you soon.