The Edition: the squeeze
Best of the Spectator
The Spectator
4.4 • 785 Ratings
🗓️ 17 November 2022
⏱️ 40 minutes
🧾️ Download transcript
Summary
How long will the pain last?
The Spectator's economics editor Kate Andrews asks this in her cover piece this week, reflecting on Rishi Sunak and Jeremy Hunt's autumn statement. She joins the podcast with Professor David Miles, economy expert at the Office for Budget Responsibility, to discuss the new age of austerity (00:58).
Also on the podcast:
After Donald Trump announced that he will be running for office in 2024, Freddy Gray writes in the magazine about the never ending Trump campaign. He speaks to Joe Walsh, 2020 Republican presidential candidate, about whether Trump could win the nomination (18:42).
And finally:
In the arts lead in The Spectator Mathew Lyons celebrates the bleak brilliance of the Peanuts comic strip. He is joined by Christian Adams, political cartoonist at the Evening Standard and long-time fan of the strip (29:02).
Hosted by William Moore.
Produced by Oscar Edmondson.
Transcript
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| 0:00.0 | This episode is sponsored by Can Accord Genuity Wealth Management, experienced wealth planners and |
| 0:05.7 | investment managers who offer unwavering support in challenging times. Visit can-dowealth.com for more |
| 0:12.0 | information. |
| 0:19.6 | Hello and welcome to the edition podcast from The Spectator. Each week we look at three pieces from the magazine with the writers behind them. I'm William Moore, the Spectator's Features Editor. On this week's episode, I'll be looking at the autumn statement, asking whether Trump could win in 2024, and celebrating the comic strip, Peanuts. |
| 0:40.2 | First up, how long will the pain last? |
| 0:43.1 | That's the question Kate Andrews asks in her cover piece for the magazine, reflecting on Rishi |
| 0:47.5 | Sunak and Jeremy Hunt's Autumn's statement. |
| 0:50.3 | She joins me now alongside Professor David Miles, economy expert on the committee at the Office for Budget Responsibility. |
| 0:58.4 | Kate, could you start by bringing our listeners up to speed on what has been announced in this week's Autumn Statement? |
| 1:05.9 | After the many surprises in Liz Truss and Quasi Quartang's budget upset the markets in quite a big way. |
| 1:14.5 | It is not surprising that Jeremy Hunt, and Rishi Sienak have decided not to pull rabbits out of |
| 1:18.9 | hats. So a lot of what's been announced was expected, but I don't think that makes the headlines |
| 1:23.3 | any less kind of shocking when you take it all in. So the Chancellor has announced 55 billion pounds worth of consolidation. |
| 1:30.3 | This breaks down to about 25 billion pounds worth of tax hikes |
| 1:33.3 | and 30 billion pounds worth of spending cuts by 2027, 2028. |
| 1:38.3 | The biggest tax is really that ultimate stealth tax |
| 1:41.3 | that comes by freezing tax thresholds for income tax and national insurance |
| 1:45.1 | and inheritance tax, which means that fiscal drag is going to pull millions of people into higher |
| 1:52.0 | tax brackets because of inflation. And this is overall expected to raise about 26 billion pounds |
| 1:57.9 | in the coming up to 2028. So really quite a lot of money indeed. |
| 2:02.2 | But, you know, some of the headlines to come out of this are going to be staggering. |
| 2:05.8 | The tax burden is now being taken to a post-war high. We are going to see, we're looking at the |
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