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Today in Parliament

26/11/2025

Today in Parliament

BBC

Government

4.4162 Ratings

🗓️ 26 November 2025

⏱️ 28 minutes

🧾️ Download transcript

Summary

Budget Day - David Cornock and team report.

Transcript

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0:00.0

BBC Sounds, Music, Radio, podcasts.

0:06.1

Order. Order.

0:08.5

Hello, this is David Kornock at Westminster, with today in Parliament from BBC Radio 4.

0:13.4

On Wednesday, the 26th of November, Rachel Reeves used her budget to put up taxes.

0:19.9

I am asking everyone to make a contribution, but I can keep that contribution as low as possible.

0:26.6

The Conservative leader accuses the Chancellor of ditching manifesto pleasures.

0:31.6

She has broken every single one of those promises.

0:35.6

If she had any decency, she would resign. We'll have all the budget

0:42.1

arguments in a moment, but first here's Mandy Baker with a short summary of what Rachel Reeves

0:47.5

had to say. Nothing in the budget really came as a surprise. After all, there'd been weeks of

0:53.1

speculation, some of it from the actual

0:55.2

government. So these were the top five measures. Tax thresholds are to be frozen for an extra

1:00.9

three years until 2031. That means if your pay increases, but the threshold hasn't gone up,

1:07.5

you may be dragged into paying tax or paying a higher rate of tax.

1:11.6

Another freeze on fuel duty, the tax on petrol and diesel will stay the same until next September.

1:17.6

Not such good news for drivers of electric vehicles, a levy of three pence a mile from 2028.

1:24.6

On welfare, the two-child benefit cap has been abolished, so parents can now claim universal credit or tax credits for more than just their first two children.

1:34.2

And a mansion tax, properties in England valued at more than two million pounds, will be hit by a surcharge of at least two and a half thousand pounds from 2008.

1:46.7

The fact that MPs mostly knew what was coming didn't stop them gearing up for the Budget Day tradition of raucous audience participation.

1:52.6

Mandy Baker, only minutes before she was due to deliver her budget statement, Rachel Reeves

1:58.2

was seen in the Commons Chamber consulting her phone and rewriting part of

2:02.7

her speech. The economic watchdog, the Office for Budget Responsibility, had mistakenly published

...

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