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Red Lines

The Big Budget Special

Red Lines

BBC

Government

4.674 Ratings

🗓️ 31 October 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Mark Carruthers is joined by John Campbell, economists Richard Ramsey and Andrew Webb, tax expert Caroline Keenan and Tina McKenzie from the FSB to discuss the Budget.

Transcript

Click on a timestamp to play from that location

0:00.0

Most of this week's budget was hardly a surprise.

0:02.9

The Chancellor Rachel Reeves had already trailed the big headlines

0:05.9

and a lot of the detail well in advance.

0:08.6

Most commentators seem to agree it was the biggest tax-raising budget in history,

0:13.6

and for some people that was clearly good news for others less so.

0:16.9

A lot of businesses are unhappy at the extra tax burden they're facing

0:20.0

through increased national insurance contributions.

0:22.7

Farmers aren't best pleased at changes to inheritance tax that could impact on them.

0:27.4

Those who'll face bigger capital gains tax payments are annoyed.

0:31.5

And presumably non-doms and users of private jets will have had a moan about their own very particular circumstances as well.

0:39.1

There's extra money for Northern Ireland, more than Stormant had been expecting, apparently,

0:43.3

and a sense that the squeeze ministers had been facing on the hill might just have eased slightly.

0:48.7

So there's lots to talk about in this special budget edition of red lines,

0:52.7

and plenty of well-informed guests to discuss it all with.

0:55.8

John Campbell, our economics and business editor is here, and he's joined by the economist Richard

1:01.0

Ramsey, formerly chief economist at the Ulster Bank. Caroline Keenan is head of tax at the

1:05.6

accountancy firm Summer N.I and Andrew Webb is chief economist at Grant Thornton, Ireland. Welcome to you all. Thank you very

1:13.3

much for joining us today. 24 hours on from all the action of yesterday. There's been a lot of criticism

1:19.6

of the budget in this part of the world from various quarters. Let me ask you, first of all,

1:24.7

is your starter for 10? For Northern Ireland, PLC, Richard, was this

1:29.4

budget good, bad or indifferent? It was probably better than we had expected because of the

1:35.7

public spending or public expenditure splurge that we're going to see over the next two years.

...

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