Transcribe your podcast
[00:00:00]

An Autumn statement for growth from a government and a party in decline and trying to turn its fortunes around before a general election.

[00:00:09]

Is this the last chance to win an election, Chancellor? Is this the last roll of the dice? Is this enough, Chancellor?

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He certainly hopes so. Clutching his Autumn statement and hoping its contents can convince voters jermell it. The headline offer a two percentage point cut to National Insurance for January.

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That change will help 27 million people. I'm introducing urgent legislation to bring it in from January the 6th, so people can see the benefits in their pay slip at the start of the New year.

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And for businesses, an 11 billion tax break. For those investing in machinery and equipment.

[00:00:56]

I will today make full expensing permanent. That is the largest business tax cut in modern British history.

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The message crystal clear.

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We cut taxes to help bigger businesses invest. We cut taxes to help smaller businesses grow. We cut taxes for the self employed who keep our country running.

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But reality is somewhat different to rhetoric. Whatever he said at the dispatch box, independent forecasts show the overall tax burden will still be growing and we're all still being taxed more. But this Chancellor wanting to give voters an immediate hit.

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We will increase the full new state pension, increase universal credit, increase the national living wage.

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Labor arguing small giveaways now is all too little, too late.

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The questions that people will be asking at the next election and after today's autumn statements are simple. Do me and my family feel better off after 13 years of Conservative government? In fact, does anything in Britain work better today than when the Conservatives came into office 13 years ago?

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Hi, Beth, nice to statement delivered now for the messaging, but is it all smoke and mirrors?

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It sounds like a tax giveaway, but you know and I know the Ni cut is worth 9 billion pounds. It's dwarfed by the 45 billion pounds.

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You are taking as people get pulled.

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Into higher tax bands because you have frozen thresholds and by wage risers as well. Overall, have you taxed more or cut taxes more?

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We have put taxes up because it was the right thing to do. Hang on, would you let me answer the question, Beth. Because it was the right thing to do to support families and businesses through the pandemic and energy shock. We said that when we could afford to do so, providing it didn't hurt the battle against inflation, which is also eroding people's incomes, we would start to bring them down.

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Are taxes going up or down under this government?

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Taxes have gone up and we are starting to bring them down.

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Just so voters are clear about when you say you're a low tax party. That's the reality. Taxes will have gone up when I.

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Had a chance to lighten the tax burden. I'm a Conservative, I believe in doing so.

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What this statement does do is calm a restive Tory backbench, at least for now.

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What he has managed to do is satisfy colleagues who are not prepared to vote for any new taxes that increase the overall tax burden. We've broken away from that. I think what the Chancellor described as a death spiral of ever increasing taxes. Would I have loved him to go further? Yes. But I'll take the win today.

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This was an autumn statement from a.

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Government firmly in election mode. 20 billion of personal and business tax cuts announced. It was, if you like, another reset moment from a stuttering government. But the Chancellor has a problem. Taxes in Britain are still on course to hit a post war high and all of our taxes are still going up. And that makes the pitch of being the party of low taxes a very hard sell to voters.

[00:04:09]

Indeed, the Government is hoping voters will notice a bit of extra cash in their pockets, at least in the short term. If there was ever a sign an election is coming soon, that could be it. Beth Rigby, Sky News, Westminster.