Budget Preview: Rishi Business

Inside Briefing with the Institute for Government

Institute for Government

News, Politics, Government

4.6 • 252 Ratings

🗓️ 25 October 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week’s Budget is Rishi Sunak’s third – but the first he’s undertaken outside of firefighting mode. What can we expect? Will Sunak be able to finally put some meat on the bare bones of levelling up? How much room to manoeuvre does he have in the midst of crises on the cost of living, staffing and productivity? And what should he do for small business? Our special guests for this special edition are SONIA KHAN, former special advisor to Sajid Javid; and CRAIG BEAUMONT from the Federation of Small Businesses. This budget preview edition is supported by the Federation of Small Businesses. Find out more at www.fsb.org.uk * “Even if we get back to a pre-pandemic economy, that wasn’t so rosy… Unless we get a step change in productivity it’s not going to feel like the Roaring Twenties.” – TOM POPE * “When Chancellors deliver growth or investment, it’s often the Chancellor after them that reaps the credit.” – SONIA KHAN * “Small businesses have had a torrid 18 months and they’re expecting a torrid autumn-winter… We’ve lost over 400,000 small businesses.” – CRAIG BEAUMONT * “We’re seeing Sunak shake off his Mr Nice Guy image… We’re seeing the start of the definition of what he’s about.” – SONIA KHAN * “The economy is smaller than it was for small businesses and the recovery looks like it’s running out of steam.” – GRAHAM ATKINS Presented by Gemma Tetlow with Tom Pope of the IfG. Audio production by Alex Rees. Inside Briefing is a Podmasters Production for the IfG. https://www.instituteforgovernment.org.uk Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hello and welcome to Inside Briefing Extra, the podcast from the Institute for Government.
0:15.4	I'm Gemmatello, chief economists at the Institute,
0:18.0	stepping briefly into the presenter's chair to bring you this bonus episode
0:20.9	to discuss the Chancellor's forthcoming budget and the first multi-year spending review since 2015.
0:26.2	This special edition of the podcast is kindly supported by the Federation of Small Businesses.
0:30.4	Rishi's a next time as Chancellor has so far been dominated by the crisis of coronavirus.
0:34.8	He was hoping to be able to use this budget and spending review to reset and
0:38.0	refocus on the government's other priorities. And over the summer, it did look like things were
0:42.6	turning a corner. Better than expected economic news suggested COVID might not have such a damaging
0:47.4	long-term effect on the economy, and the Chancellor was able to withdraw the furlough scheme and other
0:51.7	extraordinary COVID-era support, as intended at the end of September.
0:55.5	But as Budget Day has got closer, the news has increasingly been dominated by new crises, supply shortages,
1:01.2	energy price increases, and generally rising inflation. And COVID also seems to be rearing its head again.
1:07.3	To help discuss what all of this means for what we'll hear from the Chancellor this week,
1:11.5	I'm delighted to be joined by two of my IFG colleagues and by two special guests.
1:16.0	I have with me today Tom Pope, IFG Deputy Chief Economist.
1:19.2	Hi Tom.
1:19.7	Hi, Gemma.
1:20.4	Graham Atkins, an associate director at the IFG who leads our work on public service performance.
1:25.0	Hi, Graham.
1:25.5	Hi, Gemma.
1:26.2	And I'm delighted to be joined by our two special
	...

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