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BBCNEWS BBC News June 4, 2024 22:12:00

At the end of september. and with it a new political phrase trussonomics, describing liz truss s vision for a high growth, high wage, low tax economy. butjust three weeks later, her new chancellor has buried it. have you been given a clean slate? can you change elements of the mini budget if you want to? yes. and the fundamental thing the prime minister wants me to do and i need to do is to be completely honest with the country. trussonomics reversed, then. tax cuts likely replaced with tax rises, huge investment replaced with a spending slowdown. this rethink has largely been driven by the turmoil in the financial markets since the mini budget was announced. the pound has had a torrid time. the effective cost of government borrowing has soared and the bank of england had to step in with an emergency programme buying up government bonds to stabilise the pension sector. there is a pressing need, then, to restore some confidence and credibility. bank of england governor andrew bailey ....

Mini Budget , Liz Truss , The End , Prime Minister , Tax Rises , Tax Cuts , Spending Slowdown , Andrew Bailey , Bank Of England , Government Borrowing , Pension Sector ,

BBCNEWS BBC News June 4, 2024 23:09:00

Will depend on stability in the economic situation and a healthily growing economy. spending cuts and tax rises is not what liz truss planned when she entered number ten last month but the economic and political turmoil that followed her first chancellor s mini budget has forced a fundamental rethink, plunging her premiership into chaos. yesterday, the smiles had gone and the prime minister s appearance in number ten did little to convince her tory party critics that she is up to the job. some believe herfuture now hinges on the chancellor s budget at the end of this month. if that package doesn t work and the markets are still reacting all over the place, then i think she is in considerable trouble. she has admitted mistakes and if she admits those mistakes and puts them right then i think she could conceivably get beyond this. ....

Tax Rises , Mini Budget , California Yesterday , First Chancellor , Prime Minister , Tory Party , All Over The Place , Package Doesn T Work ,

BBCNEWS BBC News June 4, 2024 22:10:00

Chancellor s mini budget has forced a fundamental rethink, plunging her premiership into chaos. yesterday, the smiles had gone and the prime minister s appearance in number ten did little to convince her tory party critics that she is up to the job. some believe herfuture now hinges on the chancellor s budget at the end of this month. if that package doesn t work and the markets are still reacting all over the place, then i think she is in considerable trouble. she has admitted mistakes and if she admits those mistakes and puts them right then i think she could conceivably get beyond this. but i emphasise could, because i think it all depends on that financial statement on the 31st of october. the opposition said the prime minister s government was now clinging on. they didn t just tank the british economy, they also clung on. clung on as they made the pound sink, clung on as they took our pensions to the brink of collapse, clung on as they pushed the mortgages and bills ....

Prime Minister , Mini Budget , California Yesterday , Tory Party , Jeremy Hunt , All Over The Place , Package Doesn T Work , 31st Of October , Pound Sink ,

BBCNEWS BBC News June 4, 2024 23:11:00

Was a clear meeting of minds on the importance of stability. at the imf in washington, mr bailey also warned of the possibility of higher interest rates ahead more than previously expected. our business correspondent, marc ashdown, has this analysis. all smiles launching the mini budget at the end of september. and with it a new political phrase trussonomics, describing liz truss s vision fora high growth, high wage, low tax economy. butjust three weeks later, her new chancellor has buried it. have you been given a clean slate? can you change elements of the mini budget if you want to? yes. and the fundamental thing the prime minister wants me to do and i need to do is to be completely honest with the country. trussonomics reversed, then. tax cuts likely replaced with tax rises, huge investment replaced with a spending slowdown. this rethink has largely been driven by the turmoil ....

Andrew Bailey , Interest Rates , Marc Ashdown , In Washington , Liz Truss , Vision Fora High Growth , The End , Prime Minister , Mini Budget , Tax Rises , Tax Cuts , Spending Slowdown ,

BBCNEWS World Business Report June 4, 2024 04:52:00

Short term solutions. two more thinking about regenerative how can we use our soil really work for us going forward. it is estimated 25 to 30% of our soil is degraded, that is the un number, and that is just is degraded, that is the un number, and that isjust a real catastrophe because soil takes so long to form, that when we damage its, when we eroded, it is no longer therefore growing the food we need. we need to have a real rethink about how we manage our soil so it helps us going forward. as you were just saying, it becomes very acute in drought years like we have just had. acute in drought years like we havejust had. if acute in drought years like we have just had. if we don t look after our soil, then you get erosion, gullies, you just don t have the resilience of the crop production. so it is just not a good way forward for us as we are going into the climate extremes. so us as we are going into the climate extremes.- us as we are going into the climate extremes. so what do we n ....

Out Of Sight , International Development Way , Climate Extremes , Crop Production , Climate Extremes ,