Has the chancellor just raised the most painful tax of all ?

The News Agents

Global

Daily News, News, Government, Politics

4.2 • 4.3K Ratings

🗓️ 30 October 2024

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

If there’s one thing Rachel Reeves drilled into us in the months before delivering her first budget, it’s that none of her tax rises would target working people. So how have we ended up with a £40 billion tax raid which WILL almost certainly hit working people? The NI increase to employers will make it harder for them to hire, raise wages or expand businesses. So how does that add up? And why were there no new measures today to offset the cuts to winter fuel allowance for the elderly? We popped down to the Treasury to ask Reeves in person.

Later, Steve Bannon is out of prison, Joe Biden is messing up his apostrophes and Kamala Harris is speaking to thousands of fans - in a district she’s already won. Just another crazy day in election town.

Editor: Tom Hughes

Executive Producer: Louis Degenhardt

Producer: Natalie Indge

Digital Editor: Michaela Walters

Social Media Editor: Georgia Foxwell

Video Production: Rory Symon, Shane Fennelly & Arvind Badewal

Digital Journalists: Michael Baggs & Jacob Paul

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Transcript

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0:00.0	The Newsagents podcast is brought to you by HSBC UK, opening up a world of opportunity.
0:09.5	This is a global player original podcast.
0:12.7	Today that he took office, the Prime Minister said that he wanted to restore trust to British politics with action, not words.
0:21.6	Well, today, his actions speak for themselves with a budget that contains broken promise
0:28.6	after broken promise.
0:32.6	And reveals the simple truth that the Prime Minister and the Chancellor have not been straight with the British people.
0:41.3	That was Rishi Sunak, going out with a bang as leader of the opposition.
0:46.0	He was sucking it to the Chancellor Rachel Reeves, his swan song, if you like,
0:50.7	after she finished delivering her very first budget.
0:54.1	And it was a long charge sheet, broken promises, betrayal of the British people, choices
1:00.0	that she wanted to make.
1:01.8	Is it fair?
1:03.0	Well, we're going to leave our studio and knock on the Treasury door and sit down and speak
1:08.0	to Rachel Reeves herself.
1:10.0	Welcome to the Newsagents.
1:14.5	The Newsagents.
1:16.1	It's Emily.
1:16.9	And it's John.
1:17.9	And for the last hour and a half, maybe it felt longer.
1:22.7	We have sat through Rachel Reeves' speech.
1:25.2	I feel like I've sat through about six hours of budget.
1:27.8	Yeah, it's a long time.
	...

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