What can we expect from the Budget and how big a threat are Labour's tax plans?

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This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 19 October 2018

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

With this year’s Budget moved to Monday, 29 October, we bring you a pre-Budget special.

This is Money editor Simon Lambert, assistant editor Lee Boyce and host Georgie Frost debate the key areas that might feature in Chancellor Philip 'Spreadsheet' Hammond’s tax and spending review.

This includes housing, inheritance tax, pensions and a whole host more, as he tries to find £20billion down the back of the Treasury sofa for the promised NHS boost.

But this Budget has some extra spice, with both Brexit and a Labour party whose main policy idea seems to be to force another General Election, which it thinks it can win.

We discuss what the Government needs to focus on to stamp out the Labour challenge and just how the economy is looking ahead of Brexit.

One time Labour donor Lord Sugar is threatening to leave the country if Jeremy Corbyn comes into power, thanks – in large part – to its threat of a barrage of tax rises.

How big is the threat from Corbyn and co - and what can you do to protect your family from a potential overhaul of pensions, Isas, capital gains and even transferring wealth to a spouse?

Enjoy.

Transcript

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0:00.0	Welcome to This Is Money podcast in partnership with NS&I. I'm your host Georgie Frost and alongside
0:06.4	editor Simon Lambert and I is Assistant Editor Lee Boyce. And coming up, we have a pre-budget special.
0:12.8	What could be in that little red box, what should be and what should definitely stay out.
0:18.6	For the Tory Party, why is this budget in particular so very important?
0:22.6	Just how rude is the economy looking ahead of Brexit?
0:25.6	And how big is the threat from Labour?
0:27.6	Lord Sugar is threatening to leave the country if Jeremy Corbyn comes to power,
0:32.6	should we be equally worried?
0:34.6	And don't forget this update with all the latest breaking money news,
0:36.6	just go to this ismoney.com.uk or download the app.
0:41.5	This is Money, brought to you in partnership with NS&I, where safer savings set you free.
0:48.9	So today we focus on the upcoming budget. At the end of the month, the Chancellor will stand up to deliver the last major fiscal announcement before Britain leaves the EU. If everything goes to plan, that is.
1:00.2	Philip Hammond has a rather tough job ahead, reassuring us that the economy is safe in conservative
1:04.5	hands while warding off the threat from Jeremy Corbyn. Today we'll cut through the speculation
1:09.3	to what could should and should not be
1:11.5	included. But first, Simon, why is this so particularly significant? Because there is one word
1:18.6	hanging over us, Brexit. We are getting a budget that actually is our first full-fat autumn budget after the dates have changed around.
1:32.2	It used to be the autumn statement. Now it's full-fat autumn budget and we're getting a spring
1:35.6	statement. But also because we have Brexit hanging over us, we still don't know what the deal
1:42.6	will look like if there is a deal at all.
1:45.0	And so the question is what happens next to the UK economy?
1:49.0	Everything is going okay at the moment, not great, but not terrible.
	...

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