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The Owen Jones Podcast

Economist Destroys the Tories' Autumn Statement

The Owen Jones Podcast

Owen Jones

Politics, Government, News & Politics, News

4.41.4K Ratings

🗓️ 17 November 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

The Tories are trying to present their Autumn Statement as fair and compassionate - but it's anything but. After 12 years of economic misery, they're back for more cuts and ideologically driven mayhem. Economist James Meadway explains why it's a con, what it actually means - and why there is an alternative.

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Transcript

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0:00.0

James, on statement, firstly, global economic crisis,

0:03.4

Russia invaded Ukraine, we had a pandemic, it's not their fault.

0:06.8

I mean, look, all right, they're not responsible for Russian invaded Ukraine,

0:10.0

they're not really responsible for the pandemic, although, you know,

0:12.4

let's talk about, we can talk about something that some of the things that happened there.

0:15.3

But what they are responsible for is 10 years of austerity and cuts to investment

0:20.0

and trashing the NHS and not funding our schools and all the other things

0:24.3

that they did over those 10 years,

0:26.1

there's a now leaving us far more exposed to all those big global problems.

0:29.8

That's the story here and that's why we're in a much bigger mess

0:32.8

than actually the most other developed countries.

0:35.7

Sharpe's GDP decline in the whole of Europe, in fact.

0:39.6

So, look, top-right attacks at the 45% tax rate,

0:45.0

it's been slashed from 150,000 to 125,000, so everything above 125,000,

0:50.2

when I'll be charged at 45%, they've imposed a windfall tax,

0:53.3

the energy profits levy will be extended from the 1st of January 2023 to March 28,

0:59.3

it rises from 25%, 35%, national insurance contributions from employers

1:04.9

frozen for six years, that's a big tax hike on bosses, you could say,

1:08.8

cuts to capital gains and dividend allowances,

1:11.7

it's socialism in our time, from Jeremy Hunt, he's a conrade, why are we complaining?

1:17.2

Look at best, and this has been the most generous he can,

1:20.4

it's socialism for about two years, until if you look at what the office budget responsibility says,

...

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