Mini Maxi Budget

Newscast

BBC

Politics, News

4.4 • 6.4K Ratings

🗓️ 23 September 2022

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Chancellor Kwasi Kwarteng unveils the biggest package of tax cuts in 50 years, before being questioned by Chris on his thinking. We hear what the chancellor has to say, as well as Chris’s thoughts, and those of the Financial Times’ Clear Barrett and former Bank of England Chief Economist, Andy Haldane. Also pop star sensation Dua Lipa stops by to talk about making social media algorithms kinder, if there’s still a place for livestreaming in the music industry post-lockdown, and her new podcast. This episode of Newscast was made by Chris Flynn with Miranda Slade and Alix Pickles. The technical producer was Emma Crowe. The editor is Jonathan Aspinwall.

Transcript

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0:00.0	BBC Sounds, Music, Radio, Podcasts
0:04.9	Hello, for most of this episode we're going to be covering the big Fiscal announcement
0:09.1	made by the new Chancellor Quasic Quarting, but we're also going to be interviewing Popstar
0:13.1	Duelipa. Now, conveniently, her song New Rules includes her doing a numbered list, which
0:18.9	means we can do the top three takeaways from today's fiscal event in the style of Duelipa's
0:24.2	New Rules. Tax Cuts, there will be no increase to corporation tax next year as planned, and
0:31.9	the increase to national insurance that happened this year is scrapped.
0:35.5	Two, even more tax cuts. There's going to be an increase to the level at which you start
0:40.6	paying stamp duty when you buy a home, and the 45 p top rate of income tax is disappearing.
0:47.4	Three, borrowing, it'll all be paid for by the government borrowing an extra 70 billion
0:54.1	pounds this year, the idea being that that will be paid for by future economic growth.
1:00.3	In reaction, free market think tanks who've been calling for this sort of thing for ages
1:04.4	are levitating. A few conservative MPs seem to be wondering if they're hallucinating,
1:09.4	and Labour are saying, don't start now, and if you didn't know, those are all very appropriate
1:14.8	Duelipa song titles. For this episode of Newscast.
1:17.9	Newscast from the BBC.
1:20.4	We will deliver, we will deliver, we will deliver.
1:23.4	We will deliver. We will deliver. We will deliver. We will deliver.
1:24.9	We will deliver. We will deliver. We will deliver. We will deliver.
1:27.7	I've absolutely apologised for using the word scorn.
1:30.8	Can't go out. Enough is enough.
1:33.1	Have to love Easter.
	...

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