Let’s get fiscal: Can Sunak bury Corona in cash?

Inside Briefing with the Institute for Government

Institute for Government

News, Politics, Government

4.6 • 252 Ratings

🗓️ 13 March 2020

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hey, big spender: was this the Corona budget or the End of Austerity budget? Is Rishi Sunak doing the right thing for businesses that can’t handle the unprecedented pressures of the Coronavirus? Has he bottled Net Zero on carbon? The perils of badly-drawn business interventions. Why this government is now running on Labour’s fiscal rules from 2010 — the ones they said would bankrupt the country. And can you regenerate a whole country from a highly controlling centre? “This kind of support can be addictive to businesses. When the next crisis arrives, will the chancellor be able to tell them ‘no’?” – Giles Wilkes Presented by Bronwen Maddox with Gemma Tetlow, Alex Thomas and Giles Wilkes. Audio production by Robin Leeburn. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hello, welcome back to Inside Briefing, the podcast from the Institute for Government.
0:11.9	We've gathered in the studio 24 hours after Rishi Sunak presented his first budget,
0:16.8	and as the Prime Minister is giving another statement about coronavirus.
0:20.3	So what are we going to call this budget?
0:22.1	The coronavirus budget?
0:23.7	The Great Giveaway Budget?
0:25.2	The Ripping Up the Rules Budget?
0:27.2	Listening to the Chancellor, you might have wondered which party was in power.
0:30.7	The budget is the biggest giveaway since 1992 when Norman Lamont was Chancellor.
0:36.0	There's 175 billion being thrown at new infrastructure
0:38.8	and 30 billion to respond to the coronavirus challenge.
0:42.8	But do all those sums actually add up?
0:45.2	Is the new Chancellor driving the agenda, or is this really number 10's budget?
0:49.3	Is the Civil Service actually ready to spend these vast sums of money?
0:53.0	And of course, has the Chancellor done
0:54.9	enough to mitigate the effects of coronavirus? I'm joined by a terrific team of number crunches
1:00.3	and economic thinkers and general commentators in the studio today. Gemma Tetlow's our chief
1:05.1	economist. Hello. Gemma, you're an experienced watcher of chancellors as they get up to give
1:10.5	these big speeches. Did Rishi Sunak surprise you? Well, it're an experienced watcherlough of chancellors as they get up to give these big speeches.
1:11.5	Did Rishi Sunak surprise you?
1:13.9	Well, it was an interesting budget.
1:15.4	I mean, it's a budget of two halves, really.
	...

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