Will the mixed bag Autumn Statement boost your wealth?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 24 November 2023

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Autumn Statement was the definition of a mixed bag.

There was a National Insurance cut, but the stealth income tax raid continued.

The Isa system got an improvement, but the allowance remained frozen.

Meanwhile, the triple lock was delivered along with a pension pot-for-life plan but inheritance tax remains firmly uncut at 40 per cent, with all its weird quirks intact.

So, was that an Autumn Statement to fire Britain on to growth, as the Chancellor claimed, or a damp squib?

On this week’s podcast, Georgie Frost, Tanya Jefferies, Helen Crane and Simon Lambert dive into the details to reveal what the Autumn Statement means for you and the economy.

From the Office of Budget Responsibility forecasts, to being allowed multiple Isas and the seemingly mad plan of allowing family homes to be easily converted to flats, the team take the measure of Jeremy Hunt’s plans.

And they look ahead to whether there will be more tax cuts to come in the Budget – and whether Britain’s stealth tax and marginal tax trap mess will ever get sorted.

Transcript

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0:00.0	Welcome to This Is Money Podcast. I'm Georgie Frost and joining me and Simon Lambert today is Helen Crane and Tanya Jeffries.
0:08.7	And coming up, it's the Autumn Statement Digest. As promised last week, we'll be running the rule over the Chancellor's election pitch, sorry, tax and spending review.
0:17.9	Is the government really lowering our taxes? No change to inheritance tax,
0:21.7	as had been mooted ahead of time, but national insurance gets cut, the 1000th change in two weeks.
0:28.7	Okay, maybe like the fifth in two years, but still is a lot. Also there, the expensive triple
0:33.3	lock can gets kicked further down the road as the government decides to keep it intact,
0:38.0	for now. Not the reform that some had been hoping for with ISIS,
0:42.0	but could we soon have a pension pot for life? And finally, the OBR's view. Is Britain on the
0:47.7	way back up or is the struggle far from over? Don't forget, you start out to date with all the latest
0:52.6	breaking money news, just go to this ismoney.com.com.uk or download the app.
0:57.5	Don't forget, you can stay on top of what's going on in the markets by tuning in the
1:01.1	Digest and Invest podcast by Itara. Go to your regular podcast platform and listen on the go.
1:05.8	Digest and Invest by Itoro. The podcast for those interested in trading and investing.
1:09.8	But first, the Chancellor delivered his autumn statement for once.
1:14.5	Those who are not financial journalists and kept calling it the budget could have been forgiven
1:18.6	because it certainly felt like one.
1:20.9	With speculation of plenty and the odd rabbit pulled out of the hat, there is plenty for
1:25.5	the team to pour over.
1:27.1	But before we get into the detail, Simon, if you remember last week,
1:31.7	weeks a long time, isn't it?
1:32.8	But I asked you what you were expecting the tone to be.
1:35.9	A traditional, conservative, fiscally responsible speech?
	...

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