Autumn Statement: Are Taxes Really Getting Cut?

Newscast

BBC

Politics, News

4.4 • 6.4K Ratings

🗓️ 22 November 2023

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Chancellor, Jeremy Hunt, announced ‘the biggest tax cut in British history’ for businesses and the ‘largest ever tax cut for workers’ in today’s Autumn Statement. But are these tax cuts all they seem? How come overall the tax burden will rise to the highest level since the Second World War? And did the Chancellor hint at a spring election? Adam and Chris are joined by the BBC’s economics editor Faisal Islam and the chief executive of the CBI Rain Newton-Smith to talk this all through. You can join our Newscast online community here: https://tinyurl.com/newscastcommunityhere Today's Newscast was presented by Adam Fleming. It was made by Jack Maclaren with Joe Wilkinson and Sam McLaren. The technical producer was Phil Bull. The senior news editors are Jonathan Aspinwall and Sam Bonham.

Transcript

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0:00.0	BBC Sounds, music radio podcasts.
0:04.7	Today was a day we got the Chancellor's Autumn Statement and the list of people's most annoying
0:10.4	words.
0:11.4	So I've combined the two. Jeremy Hunt started off by saying it was his
0:14.9	bay Mrs Hunt's birthday today. But that was about it for the lols, apart from some
0:20.2	quite cringe bance about the Shadow Chancellor Rachel Reeves copying her book from Wikipedia.
0:25.8	For Tory MPs, the Amaze balls things were cuts to the rates of national insurance and tax breaks for businesses that invest,
0:36.0	but the tote's amount of tax is actually going up overall despite these cuts.
0:42.0	There were 110 things announced today,
0:45.0	so lots of stuff for the experts at the Institute for Fiscal Studies
0:49.0	and the Office of Budget Responsibility
0:51.0	to go nom nom nom
0:53.0	over, like the fact that lots of this stuff is paid for
0:56.4	by not increasing public spending very much
0:59.2	over the next few years.
1:00.8	This is the last big political event before Crimbo. But MPs might not be getting
1:07.1	any Easter hollybobs because lots of speculation has started that it means there's going to be an election in May rather than in October next year.
1:15.6	Anyway, I've spent all day listening to the autumn statement and then reading about the
1:19.1	autumn statement so it's time for my dinn-dinns.
1:21.9	Newscast. Newsast from the BBC.
1:24.0	Why can't people buy a house?
1:26.0	Look at their wages.
	...

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