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state. labour has not indicated it would scrap the new care worker visa rules. what about the wider implications of a new hard cap on visas? a lot of people for whom a desire for another migration is not motivated by economics but rather the idea of the country changing and there is evidence that migration creates additional pressure on public services. however, at the same time, there is evidence it helps relieve pressure on public services, and there are shortages of doctors and editors and social care workers which have been filled by migrants in recent years, and training were domestic workers to a nhs workers would likely come at a cost to taxpayers and higher wages to attract domestic workers into social care would likely be reflected in care costs. the government's official forecaster projects what would happen to the national debt if net migration falls from 350,000 per year to 150,000 per
worry about social change and pressure on public services, but that can rub up against a demand forforeign workers and student arrivals. immigration has long been a hot button issue in british politics, but promises to bring numbers down have frequently ended up at odds with reality, and the conservatives may notjust be worried about being squeezed by their own record on this topic, but now an old political foe as well. mr farage, are you standing? well, we'll find out in a moment, won't we? nigel farage yesterday announced he's standing for parliament and leading reform uk. he says net migration should be zero but seemed to rewrite his party's own policy on air to process certain asylum claims in british overseas territories. which overseas territories would be open to this? i don't think it's terribly practical. what, the policy you've put forward, it's not practical? i think it's a very difficult policy to work.
but also without saying by how much. on immigration, we have to tackle the central— on immigration, we have to tackle the central issue, which is we need a skilled _ the central issue, which is we need a skilled strategy in this country so we _ a skilled strategy in this country so we don't have to have so many people _ so we don't have to have so many people arriving on work visas. do ou people arriving on work visas. dr? you guarantee that you will cut net migration every year? met you guarantee that you will cut net migration every year? net migration is far too migration every year? net migration is fartoo high- _ migration every year? net migration is far too high. this _ migration every year? net migration is far too high. this government - migration every year? net migration is far too high. this government has | is far too high. this government has lost control — politicians know many voters worry about social change and pressure on public services, but that can rub up against a demand for foreign workers and student arrivals. immigration has long been a hot button issue in british politics but promises to bring numbers down have frequently ended up at odds with reality. and the conservatives may notjust be worried about being squeezed by their own record on this topic, but now an old political foe as well. mr farage, are you standing? well, we'll find out in a moment, won't we? nigel farage yesterday announced he's standing for parliament and leading reform uk.
just detail, the s&p 500, the largest economy on earth is made up of 11 sectors. >> we are the most successful economy in the world and have been for over 200 years but one thing missing from the data you talked about is actually 62% of jobs in america are not created by the s&p 500 where the ceos are being detailed in their salaries versus the average of the workers 62% come from small business in america between five and 500 employees. most of them family for second-generati on businesses, they pay themselves a lot more. they're doing very, very well. we should be very proud of them. however, we don't spend a lot of money or time in government worrying about them because the it acts like the chips and science act, inflation reduction act. there's a dime in there for small business. so focusing just on s&p 500 and trying to say that's how america works, and that's the disparity on salary that just doesn't work anymore. we're too big, small businesses, too big. it's way too big. it is
money lead now ceos are making nearly 200 times more money than their median worker and analysis by the equal or, and the associated press shows that ceos are benefiting from the stock market and from inflation as there your employees are struggling to keep up with cost of living expenses last year and the median ceo of s&p 500 companies made just more than $16 million. >> it's up 13% from the year before employees made nearly $83,000. that's up about 5%. so while workers are getting paid more compared to previous years, it's at a very slow pace, comparatively. kevin o'leary, a shark tank, judge, often called mr. wonderful, joins us now, kevin, thanks so much for joining so workers, paychecks are basically swallowed up by high costs for rent and groceries, other bills, inflation is ramping but obviously even if it's down a little, are there any ways that employees themselves can lay the level, the playing field or do you think inflation is too big of a giant to compete against now actually, as you
nhs workers would likely come at a cost to taxpayers, and higher wages to attract domestic workers and social care would likely be reflected in care costs. the official forecaster also projects what would happen if the national debt if net migration. 350,000 a year to 150,000 a year. the black line becomes a red line. debt is still rising in five years' time. this means the government would not be on course to hit its fiscal rule. that implies a trade—off, is at least in the short—term, between lower net migration and the possibility of tax cuts. this doesn'tjustify higher net doesn't justify higher net migration. doesn'tjustify higher net migration. 0n longer terms, the impact on public finances is thought to be more neutral. and, many people will nevertheless feel that this is a price worth paying for what they see as the social cohesion benefit offer lower migration. a surprise it is worthy of... the
trades intrinsic to our economy? both parties even today, while migration has been very much the central theme, would admit that we do need some migration. definitely, and i think one _ do need some migration. definitely, and i think one of _ do need some migration. definitely, and i think one of the _ do need some migration. definitely, and i think one of the things - do need some migration. definitely, and i think one of the things that - and i think one of the things that really— and i think one of the things that really highlighted that to people here in— really highlighted that to people here in the northwest was the pandemic. i think people realised that those front line workers come from _ that those front line workers come from tots — that those front line workers come from lots of different backgrounds, and without people from different parts _ and without people from different parts of _ and without people from different parts of the world coming here to the northwest, a lot of those services _ the northwest, a lot of those services wouldn't be able to function _ services wouldn't be able to function. there's the flip side to the argument that people do worry an increase _ the argument that people do worry an increase in— the argument that people do worry an increase in migration would put more pressure _ increase in migration would put more pressure on _ increase in migration would put more pressure on public services that are already— pressure on public services that are already struggling — but people really— already struggling — but people really do — already struggling — but people really do realise that without migration, particularly in the health— migration, particularly in the health and social care sector, services — health and social care sector, services as— health and social care sector, services as things are nowjust
labour would reverse that new rule blocking care workers from being able to bring their dependents. that doesn't really correspond with anything labour and sir keir starmer have actually said. labour are seeking an eu returns agreement if they win power but have also said they win power but have also said they would not sign up to any pan— eu scheme with a migrant quota because the uk is not a member state. they also indicated it would not scrap the care worker visa rules. what about the wider implications of the new hard cap on visas? there are lots of people a desire for lower migration is not motivated by economics but rather the idea of the country changing. there is some evidence migration create additional pressure on public services. however, at the same time, there is evidence it helps to release net public service pressure. the shortage of doctors, nurses, social care workers have been filled by migrants in recent years. training domestic workers to replace
offer lower migration. a surprise it is worthy of- - -_ is worthy of... the biggest driver of migration _ is worthy of... the biggest driver of migration last _ is worthy of... the biggest driver of migration last year _ is worthy of... the biggest driver of migration last year was - is worthy of... the biggest driver of migration last year was work. | is worthy of... the biggest driver i of migration last year was work. we have a worker from the university of oxford, they told us what the 0xford, they told us what the options were for filling the nearly 1 millionjob options were for filling the nearly 1millionjob vacancies options were for filling the nearly 1 million job vacancies across uk. migration is certainly one way of filling vacancies across the economy. it is not the only way that they can be filled. things that implies and policymakers can do include improving pay and working conditions to makejobs more attractive to workers who are already in the uk. they don't need to have labour at all, in fact, and they can automate processes. they can use machinery rather than workers.. migration is one of the options available, but these are just two examples of the other things it can be done instead. the migration advisory committee, when it recommended that care workers
farage and looking notjust to control— farage and looking notjust to control conservative voters by conservative mps. you control conservative voters by conservative mps.— control conservative voters by conservative mps. ., ,, ., ., conservative mps. you think we got a clear enough — conservative mps. you think we got a clear enough idea _ conservative mps. you think we got a clear enough idea on _ conservative mps. you think we got a clear enough idea on what _ conservative mps. you think we got a clear enough idea on what exactly - clear enough idea on what exactly labour will do? that was the answer from rishi sunak, what will you do? he says he's got a plan, what is labour's clear plan on this? our first [an labour's clear plan on this? our first plan would _ labour's clear plan on this? our first plan would be to set up the secure _ first plan would be to set up the secure borders command which would brin- secure borders command which would bring together more enforcement officers. — bring together more enforcement officers, police, m15, and notjust .ive officers, police, m15, and notjust give them — officers, police, m15, and notjust give them the personnel to do the 'ob, give them the personnel to do the job, lrut— give them the personnel to do the job, but the powers to do the job, drawing _ job, but the powers to do the job, drawing on— job, but the powers to do the job, drawing on keir starmer's experience in prosecution, using the legal framework we used a bus terrorist cells _ framework we used a bus terrorist cells we — framework we used a bus terrorist cells. we should be doing that the bus criminals across the line. as shadow— bus criminals across the line. as shadow health secretary, i can help brin- shadow health secretary, i can help bring down net migration making sure we are _ bring down net migration making sure we are recruiting and training our own home—grown talent and reducing what i _ own home—grown talent and reducing what i think— own home—grown talent and reducing what i think is now an overreliance on workers — what i think is now an overreliance on workers from overseas to bring down _ on workers from overseas to bring down net — on workers from overseas to bring down net migration too. that's a