borrow more but that is not responsible because then you are passing debt onto future generations which we are committed not to do. it was a political choice to increase taxes. in terms of announcements made are a longer term, businesses now, some are facing going to the wall. . . . now, some are facing going to the wall. , . ., . , ., wall. these are the tax cuts down here, presumably wall. these are the tax cuts down here, presumably this wall. these are the tax cuts down here, presumably this page - wall. these are the tax cuts down | here, presumably this page didn t make here, presumably this page didn t make it here, presumably this page didn t make it to here, presumably this page didn t make it to the here, presumably this page didn t make it to the printers here, presumably this page didn t make it to the printers because i make it to the printers because right make it to the printers because right here make it to the printers because right here we make it to
duty although again the obr pointed out that is rather ambitious to imagine that in a year s time you will get 5p plus inflation rise in march 2023. will get 5p plus inflation rise in march 2021 march 2023. politically, laura, there were march 2023. politically, laura, there were some march 2023. politically, laura, there were some surprises - march 2023. politically, laura,| there were some surprises from march 2023. politically, laura, - there were some surprises from rishi sunak, no wonder he kept everything closely guarded. particularly on the income tax announcement. although we talked about it before he took to his feet, and he will claim he can carry the mantle of being a lower tax chancellor. interesting though that he was compared with ted heath with an instagram account by rachel reeves, not nigel lawson she said. this disagreement between him and borisjohnson about the this disagreement between him and boris johnson about the rise this disagreement between him and boris
result a massive global pandemic. and as a result there a massive global pandemic. and as a result there is enough employment income result there is enough employment income being generated that even when income being generated that even when inflation goes up, the tax revenues when inflation goes up, the tax revenues rise too. in when inflation goes up, the tax revenues rise too. when inflation goes up, the tax revenues rise too. in terms of “obs, it is true, most of those it is true, most of those predictions just haven t happened. people have remained, there are high levels of employment which will to some extent take the sting out. figs some extent take the sting out. as we some extent take the sting out. is we were saying before he got on his feet, business groups feared that if you look at the employment rate, february s gdp number and think things are robust enough for me to park some of my ammo until october and that is what the business community feared. they sai
back mainly to lower earners in the form of a higher national insurance threshold and the rest of it goes back via a tax cut, per 1p cut in tax if conditions are met in the future. it tax if conditions are met in the future. , , ., , ., future. it seems rather convoluted. it means he future. it seems rather convoluted. it means he hasn t future. it seems rather convoluted. it means he hasn t had future. it seems rather convoluted. it means he hasn t had to - future. it seems rather convoluted. it means he hasn t had to reverse l it means he hasn t had to reverse the national insurance rise announced. he the national insurance rise announced. the national insurance rise announced. , ., the national insurance rise announced. ., ., announced. he is saying i m a tax cuttin: announced. he is saying i m a tax cutting chancellor announced. he is saying i m a tax cutting chancellor but announced. he is saying i m a tax cutting chancellor but he s - announced. he is saying i m a
thresholds? thresholds? you refer to a disagreement thresholds? you refer to a disagreement between - thresholds? you refer to a - disagreement between number ten thresholds? you refer to a disagreement between number ten and number 11 over the national insurance rise in the first place, to remind people what happened basically after the pandemic the prime minister was determined to have more money for social care and catching up with covid backlogs. rishi sunak said that is fine, you can take a hike if you think i m going to give you the cash for that from behind the sofa you have to allow me to raise money somehow to pay for it. that s why they came up with the national insurance rise which for the first time on the face of it was directly linked and will appearso of it was directly linked and will appear so in people s payslips as something going specifically towards the nhs and social care. since then political backlash as to what the impact will be. the outcome today, rishi s