Politics Weekly UK
Autumn statement: the government hunts growth – Politics Weekly UK
Nov 22, 2023
Jeremy Hunt, former Treasury minister, joins John Harris and Pippa Crerar to discuss tax cuts, getting people back to work, and the challenges the government faces. They also touch on the impact of the benefits system on the unemployed, the political debate on economic growth, and the government's failure to invest in infrastructure.
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Quick takeaways
- Despite promises of tax cuts and growth, the reality for most people is struggling with the cost of living and stagnant economic growth.
- The UK economy faces challenges such as low productivity, lack of investment, and political turbulence, requiring government-led investment to stimulate growth.
Deep dives
The Autumn Statement and Economic Growth
The podcast discusses the recent autumn statement and its implications for economic growth. The Chancellor claims that the economy has turned a corner, but the reality is that growth has hit a dead end under the conservative government. Despite claims of sweeping tax cuts and promises of growth, the reality for most people is still struggles with the cost of living and stagnant economic growth. The main focus of the statement was the cut in the main rate of national insurance, which will wait and see if it satisfies the calls for more significant tax cuts. However, the future forecasts of growth are still downgraded and the economy is projected to face tough times with struggles in living standards and high inflation.
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