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Money Talks from The Economist

Money talks: End of Austerity?

Money Talks from The Economist

The Economist

Finance & Economics, Business News, Economy, News, Business

4.41.2K Ratings

🗓️ 30 October 2018

⏱️ 18 minutes

🧾️ Download transcript

Summary

Analysis of Britain's budget with our Britain economics correspondent. What is driving the fall in tech stocks? And, is Harley Davidson struggling to fire on all cylinders?

Helen Joyce hosts. Sound effect: THE_bizniss (cc x 3.0)



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Transcript

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0:00.0

Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey.

0:11.0

So no excuses not to visit your in-laws this Christmas.

0:16.5

Trains now on Uber. T's and C's apply check the Uber app. Britain's Chancellor declared a new less constrained economic era in his budget this week.

0:33.0

The era of austerity is finally coming to an end.

0:37.0

But Canteriza May's government fulfil that promise.

0:41.0

And Harley Davidson struggles to keep its motor running.

0:44.0

I'm Helen Joyce at the Economist and you're listening to money talks.

0:51.0

First, in a break with tradition Britain's budget was

0:54.2

scheduled for Monday this week rather than the traditional Wednesday. The

0:57.6

Chancellor Philip Hammond said this avoided Halloween headlines such as

1:00.8

Hamo House of Horrors.

1:02.6

Callum Williams, our Britain economics correspondent, was watching.

1:05.7

Yes, and the Chancellor Philip Hammond did actually remind us of the last time it was delivered

1:10.8

on a Monday.

1:11.6

It was 1962. I was six years old. Tensions between Russia and the United States were rising and a former foreign

1:22.0

secretary turned Chancellor delivered a budget amid cabinet revolt.

1:27.0

Mr Deputy Speaker, I am acutely aware of the phenomenon of false memory, but I could swear I remember my parents turning to me

1:36.6

and saying Philip one day that could be you.

1:42.0

Before setting the budget each year, Britain's Chancellor of the Exchequer, which is a finance minister

1:46.8

to everybody else, is given a revised set of fiscal forecasts by the Office for Budget

1:51.6

Responsibility or the OBR, which is the official government fiscal watchdog.

1:57.0

Now in recent years the Chancellor has sort of looked through his fingers each time he and it has been he turned the pages of those forecasts

...

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