What the Autumn Statement means for you

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 25 November 2016

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

The new Chancellor delivered his first Autumn Statement this week with the aim of distancing himself from his predecessor - but what will it mean for you?

Philip Hammond grabbed the headlines with a ban on fees for tenants, a 2.2% savings bond, a minor splurge on infrastructure and an awful lot of debt.

Will tenants bear the brunt of landlords hiking rents after being hit by crafty letting agents?

Is a three-year bond paying 2.2% the answer to the savings crisis?

What’s the key to productivity other than spending less time on Facebook?

Are we really poorer than seven years ago and counting?

How on earth will we ever pay off £2trillion of debt?

Simon Lambert and Rebecca Rutt, of This is Money, join Georgie Frost, of Share Radio, in the studio for the This is Money Show podcast to try and answer all these questions and more.

And if you’re all Autumn Statemented-out, there’s also some existential questions about Black Friday, a look at whether airport parking spaces really make good investments, and a Formula 1 car for the road that you can buy.

It’s a fun show. Enjoy.

Transcript

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0:00.0	This is Money, brought to you in partnership with MS and I, giving you 100% security for your savings.
0:10.4	A very warm welcome to This is Money and Share Radio podcast in partnership with NS&I.
0:16.9	I'm Georgie Frost and joining me in the studio is editor Simon Lambert and reporter Becky Rutt to round up this week's top stories that they've been covering on their financial website of the year and all lies were on Philip Hammond this week as the Chancellor delivers his first and last autumn statement.
0:37.1	With the public get what the public wants. Would the public get what the public wants?
0:39.3	A jammy deal for those just about managing or would the money end up being spread too
0:44.3	thin?
0:45.3	Lots of good news in there, I think, to help the jams.
0:47.3	But if we look at one of the measures that was designed to help them as a headline, 30 pence
0:51.3	rising the national living wage, rising inflation is going to strip any benefit of that away.
0:55.4	Rising debt, low growth forecast, perhaps it's the Chancellor who's left in a jam.
0:59.9	We now have a 122 billion pound Brexit black hole.
1:05.3	So who were the winners? Who were the losers when it comes to that pound in our pocket?
1:08.9	Good news for drivers, cyclists, car boot
1:11.1	sellers. Parents want to be homeowners, pensioners for now, and hurrah for savers. Say hello to the
1:17.4	new NSNI bond with market leading rate of 2.2%. The bonds will be open to people aged 16 and over,
1:24.0	so there's an opportunity for everybody of that age to come into that product. 2.2 at the moment is a market leader.
1:29.5	All that's bad news for Jim Bunnies, the airport industry and letting's agents, but also perhaps
1:34.6	renters as well.
1:35.4	The letting agents had to find that money because there are costs in referencing tenants
1:39.3	and doing the admin and so on.
1:40.6	Simply what happens is that cost is passed on through increased rent.
1:44.6	We also spoke a lot about Britain's productivity 30% lower than the US and Germany
	...

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