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The Story

Will Labour raise taxes?

The Story

Politics, Unknown, Daily News, News

41.5K Ratings

🗓️ 30 July 2024

⏱️ 33 minutes

🧾️ Download transcript

Summary

Rachel Reeves' first statement as the new Chancellor has kicked off a huge political row. She accused her predecessor Jeremy Hunt of lying about the 'true state' of the UK's finances - and he hit back calling her ‘shameless’. So was there actually a ‘cover up’ by the previous government? And the big question: Does this mean higher taxes?

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.com/thestory


Get in touch: [email protected] 

Find out more about our bonus series for Times subscribers: 'Inside the newsroom'


Host: Luke Jones.

Guest: Mehreen Khan, Economics Editor, The Times.

Clips: Parliament TV, Sky News, Times Radio.


Further listening: Labour: Meet Starmer's top advisors


Further reading: 'Is Rachel Reeves right to rule out China tariffs?' by Mehreen Khan



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Transcript

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0:00.0

BP is working to bring more lower carbon energy to the UK, like developing offshore wind,

0:06.1

and we're keeping oil and gas flowing from the North Sea. It's and not all. That's how BP is backing Britain. Well today we're mostly in oil and gas.

0:16.0

We increased the proportion of our global annual investment that went into our lower carbon and other transition businesses from around 23% in 2023.

0:27.0

BP.com slash and not all.

0:30.0

BP is working to bring more lower carbon energy to the UK, like developing offshore wind,

0:36.2

and we're keeping oil and gas flowing from the North Sea.

0:39.5

It's and not all. That's how BP is backing Britain.

0:43.8

Well today we're mostly in oil and gas.

0:46.3

We increased the proportion of our global annual investment that went into our lower carbon

0:50.4

and other transition businesses from around 3% in 2019 to around 23% in

0:56.1

2023 v..com slash and not all. From The Times and Sunday Times, this is the story. I'm Luke Jones.

1:07.0

In The Treasury, as our first female Chancellor was preparing her first big common statement on Monday,

1:20.0

our economics editor was down the hall, locked away.

1:25.0

I was bizarrely held up in a room in the Treasury watching it on TV without my phone and my laptop.

1:32.0

It was a little bit weird, but they gave us the document with all the costings,

1:38.0

which was under embargo. We weren't allowed to report it until Rachel Reeves sat down.

1:43.1

So, bit of an odd experience,

1:44.8

would have preferred having my phone on my laptop.

1:47.0

I think Kettling in journalists

1:48.2

and not giving them any access to devices

1:50.0

is an interesting social experiment.

1:52.2

When she sat down, it was like Lord of the flies man

...

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