The Budget: It’s Finally Here!
Newscast
BBC
4.4 • 6.4K Ratings
🗓️ 26 November 2025
⏱️ 35 minutes
🧾️ Download transcript
Summary
Today, Adam and Chris are joined by Ben Chu, Policy and analysis correspondent BBC Verify, and Dharshini David, Deputy Economics Editor, to discuss the budget.
This afternoon, Chancellor Rachel Reeves delivered a ‘smorgasbord’ of tax increases. Announcements also included a cap on pension salary sacrifices, and abolishing the two child benefit cap.
What do today’s measures mean for people’s pay packets? How has this gone down with the other parties, and what challenges still remain for the Chancellor?
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Transcript
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| 0:00.0 | BBC Sounds, Music, Radio, Podcasts. |
| 0:05.9 | Hello, it's been nearly budget day for, well, a lot of days, but it finally is budget day |
| 0:11.0 | today. And what you're going to hear now is a live episode of newscast that was broadcast |
| 0:15.6 | on the news channel and on loads of different social media platforms on Thursday evening |
| 0:20.2 | at about 640, where me and Chris and the rest of the gang media platforms on Thursday evening in about 640 |
| 0:21.2 | where me and Chris and the rest of the gang got together |
| 0:23.6 | to discuss what was actually in Rachel Rees's |
| 0:26.7 | very, very long-anticipated budget. |
| 0:30.9 | Newscast. Newscast from the BBC. |
| 0:33.3 | Fat boy sliver me in the classroom doing our violin lessons. |
| 0:36.2 | I was the tappletail in the class. |
| 0:54.5 | Can I have an apology, please? I trust almost nobody. Then daddy has to sometimes do strong language. Next time in Moscow. I feel delulu with no salulu. Take me down to Downey Street. Let's go have a tour. Blimey. Hello, it's Adam in the newscast studio. And it is Chris at Westminster. |
| 0:56.4 | And because nothing goes to plan, more on that later on Budget Day, the other half of the |
| 1:00.9 | newscast crew are actually not here yet. |
| 1:02.9 | So we will be joined by Darshini David, Deputy Economics Editor here at the BBC and |
| 1:07.3 | Ben Chu from BBC Verify at some point. |
| 1:09.7 | So if you see them stumbling in or tripping over a cable |
| 1:13.4 | or clearing their throats or downing a cup of tea, that is what's happening. They're not here yet. |
| 1:19.3 | Now, Chris, that's people who are being late on Budget Day. But actually, the big thing before Budget |
| 1:23.7 | Day was somebody being early, the Office of Budget Responsibility, being spectacularly early. |
| 1:28.6 | It is unbelievable start to the sort of Budget Day. Because the thing is with Budget Day, for |
| 1:34.3 | newscasters who may have, you know, Cass and I in the direction of Budget Day over the years, |
... |
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