ConsUmer confIdence has slUmped. Is the Doom And Gloom laboUr Is sellIng sappIng all enthUsIasm for the brItIsh economy . The governments crItIcs say, It Is tIme for a new message . Reform say they wIll transform the party to pUt NIgel Farage In nUmber 10. Its a bIg pledge for a party wIth fIve mps. How are they goIng to do It . Good EvenIng And Welcome to newsnIght the home of InsIght and IntevIews. On oUr panel tonIght, The PromInent LaboUr Donor and champIon of Green Energy dale vInce, the former BrexIt Party mep, now talk presenter, alex phIllIps. And the Uk DIrector of more In common lUke tryl. For weeks now the government has been tellIng Us the coUntrys fInances are In a rIght old mess. Prepare yoUrself for some paIn, saId the PrIme MInIster. Well, It seems the coUntry has taken hIm at hIs word. ConsUmer sentIment, whIch powers the economy, has dropped lIke a stone In september. We are less wIllIng to spend, whIch means small and medIUm sIzed bUsInesses are not InvestIng eIther.
Before the next general election. So there is a lot riding on this and after the chancellor delivers his statement, we will hear from the labour party, they will deliver a response in the House Of Commons to that budget as well. Joining me now is our political correspondence who is our political correspondence who is at Downing Street as well. We saw the chancellor depart from number 11 in the last 20 minutes or so, that budget firmly inside that red box. I was saying earlier, i did a story years later about those red boxes and how they are made, a secretive process, and they are very heavy, about three kilograms, so it takes a muscle to hold that up we knew some of what is in the box, we knew about the 2p reduction in National Insurance but what other rumours swirling around westminster . It is interestin swirling around westminster . It 3 interesting you mention swirling around westminster . It 1 interesting you mention the particle context around this because we think this will be t
But we know we can make things work better. That is the way well open ultimately get the rising Living Standards we all want to see. You talk about wanting to get that revenue in and increase spending on Public Services, but your u turn, if we can call it that, or this this moment of that green Prosperity Plan just sort of indicates the challenges that all Political Parties face at the moment. Many things like the green Prosperity Plan just cant be costed at the moment. ,. , moment. After the disaster of the liz truss minibudget moment. After the disaster of the liz truss minibudget and moment. After the disaster of the liz truss minibudget and the moment. After the disaster of the j liz truss minibudget and the rise Liz Truss Mini Budget and the rise in Interest Rates, we had to change some of those plans. But our plan remains a fundamental part of our offer. Its our National Fund and four gigabytes energy to work on the front tier, new technologies in the future. Gb gb engery. Any b
of which are linked to inflation. let s put this into perspective because the uk s national debt is at record levels. it owes £2.69 trillion. that is almost the size of the uk economy the so called debt to gdp ratio is around 97.7%. that is a useful guide to how affordable the debt is for a country. the chancellor has pledged to get that ratio down. the uk s far better off than some of its neighbours though italy s debt to gdp is around 140%. but if we look at germany s that s only around 65%. let s get more on this from our chief economics correspondent, dharshini david. she s in the bbc business newsroom here in london. hi. first off, what is behind that figure? hi. first off, what is behind that fiuure? , ., ., ., ., ., hi. first off, what is behind that fiuure? , ., ., ., ., y figure? just one month out of a 12 month financial figure? just one month out of a 12 month financial year figure? just one month out of a 12 month financial year but - figure? just one