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Political Fix

Spring Statement: Sunak misfires

Political Fix

Financial Times

Politics, News, News & Politics

4.21.2K Ratings

🗓️ 25 March 2022

⏱️ 40 minutes

🧾️ Download transcript

Summary

Rishi Sunak delivered a mini-Budget this week that slashed taxes and attempted to tackle the cost of living crisis and deal with inflation. But the UK chancellor was widely criticised for failing to help the poorest and was told that his measures did not go far enough. We delve into the Spring Statement, including what it means for businesses, the wider economy and workers. 

Presented by Sebastian Payne, with George Parker, Chris Giles and special guests Frances O'Grady and Tony Danker.

Produced by Howie Shannon. The sound engineers were Persis Love and Jan Sigsworth.


-Read the latest on https://www.ft.com/world/uk

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Audio: LBC


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Transcript

Click on a timestamp to play from that location

0:00.0

This is soon act delivered a mini budget this week in all but name but his

0:05.6

measures to protect Britain's from the cost of living crisis were criticized for

0:09.8

not going anywhere near far enough. The invasion of Ukraine presents a risk to

0:15.2

our recovery as it does to countries around the world. We came into this crisis

0:21.2

with our economy growing faster than expected with the UK having the highest

0:26.3

growth rate in the G7 last year but the OBR has said specifically there is

0:33.2

unusually high uncertainty around the outlook. Welcome to Payne's politics your

0:40.2

insider guide towards going on in British politics from the financial times with

0:44.7

me Sebastian Payne. In this specially extended episode we'll be delving into

0:49.4

the spring statement the Chancellor's tax cuts projections for growth the state

0:54.2

of the public finances inflation and more economic turbulence ahead. We'll be

0:59.4

looking at the real terms impact for voters the political choices made and

1:03.4

whether soon act will have to do more. Political editor George Parker and

1:08.5

economics editor Chris Charles are on hand for their expert analysis and then

1:13.2

later we'll be gathering reaction to the spring statement from both sides of

1:17.0

the British economy the CBI's Tony Duncan and Francis O'Grady from the TUC will

1:22.7

give us their take on soon act statement and discuss what can be done to improve

1:26.9

the UK's low growth and productivity and perennial challenge that's only

1:31.1

becoming more problematic. Thank you all for joining the pod.

1:39.2

Rishi Soonak did not want to deliver such a consequential fiscal event the

1:44.8

Treasury's natural disposition when faced with such uncertainty is to wait

1:49.3

and see but the war in Ukraine has further impacted the global economic outlook

...

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