Will the Budget help you (or anyone)?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 24 November 2017

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

It was billed as a make or break Budget, so did the Chancellor pitch it right? Philip Hammond pulled a George Osborne-sized rabbit from the hat at the end with the abolition of stamp duty for first-time buyers, but was that enough to make us to forget the gloomy economic news and the gags? On the plus side, the Budget brought an income tax cut for most, the promise of more homes being built, and no more stamp duty for most first-time buyers. On the negative side, economists say we are due another lost decade, Philip Hammond’s own financial watchdog said he would drive up house prices, and cough sweet jokes might be catching on. This week, Simon Lambert, Rachel Rickard Straus and Georgie Frost pick apart the Budget to try to find out who the winners and losers will be. From an up to £5,000 tax saving on a first home, to railcards for the under-30s, zero mentions of the word saver, and whether Just Eat can really solve the productivity puzzle, they round up what you need to know. Plus, what exactly was Simon’s stamp duty idea that drew 296 reader comments – of which about 295 were calling him an idiot? Listen to the podcast to find out.

Transcript

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0:00.0	Welcome to the This Is Money podcast in partnership with NS&I, your weekly roundup of the top personal finance consumer and business stories that editor Simon Lambert and his team have been covering on their reward-winning website.
0:14.3	I'm your host, Georgie Frost, and alongside Simon and I is personal finance editor Rachel Rickard Strauss.
0:20.7	And this week, housing took centre stage as the Chancellor presented his first autumn budget. Perhaps Philip Hammond was hoping a stamp duty giveaway for first-time buyers could distract us from an otherwise pretty gloomy report on the state of the British economy. Well, not so. Growth forecast was slashed
0:37.8	as productivity continues to puzzle.
0:40.6	There was also a little cheer
0:41.5	for savers and diesel drivers.
0:43.4	We take a look at what the budget means for you.
0:45.9	Don't forget you stay up to date
0:46.8	with all the latest breaking money news.
0:48.7	Just go to this ismoney.com.uk or download the app.
0:52.5	This is Money.
0:53.7	Brought to you in partnership with NS&I, where safer savings set you free.
0:59.1	Well, heavy on rhetoric, light on actual substance, with a mini twist thrown in at the end,
1:05.5	another budget is commended to the house.
1:08.0	Hashtag Budget 2017.
1:09.9	Well, that was my tweet straight after the budget. We'll get to
1:13.0	the twist in a minute. But in 10,000 characters or whatever it is that Twitter now allows
1:17.3	you to do, Simon first, your immediate thoughts, just really brief. What's the first thing you
1:22.5	thought after that budget? The first thing I thought after the budget was, gosh, that from spreadsheet Phil was a George
1:30.7	Osborne-sized rabbit pulled out of the hat at the end. That was a big move from the Chancellor.
1:36.4	So a big move, Rachel, your thoughts? He really went for the for the pizzazz in this one, didn't he,
1:43.8	with his stupid jokes.
	...

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