Could you get hit by a Labour tax raid?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 31 August 2024

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

A bad news Budget looks to be on the cards after Labour continued to pour cold water on optimism its own election victory this week.

Prime Minister Keir Starmer delivered a gloomy speech saying the Budget was going to be painful, hot on the heels of Chancellor Rachel Reeves' own gloom-mongering.

But having made a promise not to raise the rates of income tax, national insurance, VAT and corporation tax, where will the goverenment try to raise cash.

Starmer said tax rises would target those with the 'broadest shoulders' but who are they - and are there really enough of the very wealthy to target or will the burden be more likely to fall once again on those in the rich middle.

On this podcast, we look at what taxes could rise and what a capital gains tax, pension, inheritance or other raid could mean for people.

Plus, Britain's biggest mortgage lender Halifax is upping what it will lend first-time buyers, Crane goes on the case of an Evri bungle and asks shouldn't you be within your rights to expect a parcel to arrive?

And finally, with the Oasis ticket scramble in full effect and ticket prices sky high, can you protect against a potential Gallagher brother blow up or anything else that would stop you going? (If that is you can get tickets in the first place, of course).

Transcript

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0:00.0	Welcome to This Is Money podcast sponsored by Charles Stanley Direct. I'm Georgie Frost and joining me and Simon Lambert today is Helen Crane.
0:10.5	And coming up, it may be two months away, but the questions are already being asked. So what will be in the autumn budget?
0:18.1	Just how painful will it be? Also today, first-time buyers could now be able to secure bigger mortgages when applying with Halifax.
0:25.8	Crane takes on everyone's least favourite delivery firm, well mine at least.
0:31.9	Plus, what if bad brotherly blood blows up the Oasis reunion?
0:36.6	Don't forget, you can stay up to date with all the
0:38.5	latest breaking money news. Just go to this ismoney.co.uk or download the app. Take control of your
0:45.5	finances with Charles Stanley Direct. Invest, save, coach or plan. Using technology where it's helpful
0:53.9	and people where it matters.
0:56.0	Our website and app make trading cost effective and flexible, but we're more than just an online investment service.
1:03.0	We're here for you regardless of your financial needs or if your life takes an unexpected term.
1:09.0	Your finances, your way. Take control today with Charles Stanley
1:14.3	Direct. Sign up now. Investment involves risk. First, the Prime Minister has warned us that the
1:20.5	autumn budget on 30th October will be painful, as Sakeer looks to balance Britain's books.
1:26.7	But that job has been made harder because he's already promised not to increase income tax, national insurance and VAT.
1:33.8	Instead, those with the, quote, broadest shoulders should bear the heaviest burden, suggesting there will be tax rises elsewhere.
1:41.4	We already know about the cut to winter fuel payments and VAT on private schools.
1:45.4	Well, what else could the Chancellor unveil at the end of October?
1:49.5	Simon, Helen, welcome. Simon, what do we know so far? What has the PM said and why?
1:57.5	Well, in their election campaign and in their manifesto, the Labour Party made some promises
2:06.2	about tax rises, largely to head off the accusations of the Tories that Labour would raise taxes
2:12.4	on you. That's one of the reasons why swing voters don't vote labor in elections.
	...

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