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All Out Politics

The politics of the Budget

All Out Politics

Sky News

News Commentary, Politics, News, Government

4.2156 Ratings

🗓️ 28 October 2021

⏱️ 37 minutes

🧾️ Download transcript

Summary

Adam Boulton and guests analyse the good, the bad and the bubbly from this week's Budget statement by Rishi Sunak.

Big spending commitments in line with Brown and Blair rather than Osborne and Cameron - and big tax rises to boot, with the tax burden now at a level not seen since 1949.

A big boost for workers on Universal Credit and a business rate discount for shops, restaurants and gyms..

But with the threat of inflation on the horizon - and the promise of tax cuts by 2024 - did the Chancellor do enough to convince the public to share his optimism?

Joining Adam this week are the former senior adviser to Phillip Hammond and Sajid Javid - and now partner at Flint Global - Tim Pitt, the Oxford economist and author Linda Yueh and Sky's chief political correspondent Jon Craig.

#AllOutPolitics

Transcript

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0:00.0

The world is becoming increasingly complex and volatile.

0:03.0

How can we make sense of it all?

0:05.0

I'm Richard Engel.

0:06.0

And I'm Yalda Hakim.

0:07.0

And we're the top international correspondents at NBC News and Sky News.

0:11.0

And we present Sky News's latest podcast, The World.

0:14.0

Each week we'll cut through the noise to guide you through the week's global events

0:19.0

and explain to you why, what happens out there

0:22.4

matters to you wherever you are. Listen now to the world with Richard Engel and me Yalda Hakim,

0:28.2

wherever you get your podcasts.

0:36.0

Hello, welcome to the All That Politics Podcast from Sky News. I'm Adam Bolton.

0:40.1

And joining us this week are the former senior advisor to Chancellor Philip Hammond and Sajid Javid,

0:45.7

now partner at Flint Global Tim Pitt, the Oxford economist and author Linda Yu,

0:51.4

and Sky's chief political correspondent John Craig.

0:59.0

No prize is what we're going to talk about. Rishi Sunik's budget.

1:04.0

Today's budget does begin the work of preparing for a new economy post-COVID, an economy fit for a new age of optimism.

1:14.6

The Universal Credit Taper withdraw support as people work more hours.

1:20.6

The rate is currently 63%.

1:23.6

So for every £1 someone earns, their universal credit is reduced by 63P.

1:30.3

Let us be in no doubt. This is a tax on work.

1:36.3

We are cutting it from 63 to 55%.

1:40.3

Flights between airports in England, Scotland, Wales and Northern Ireland, will from April

...

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