we can t afford to be able to put her in nursery for some days a week so i can go back to work. so it s quite difficult really, but announcing this sounds really promising. big changes to pensions too to encourage people to stay in employment, but the chancellor s plans prompt accusations that his budget favours the rich. also on the programme tonight. markets fall in europe and the us amid concerns about the troubled banking giant credit suisse. it s a lovely ball through to benzema. break s here for vinicius. then benzema. and there s no miracle in madrid as liverpool are knocked out of the champions league. and coming up in the sport, but you left the best of the action from snakes champions league clashes, it is mission improbable liberal pool and nurture it, find out how they fare against the defending champions. liverpool. good evening. the chancellor, jeremy hunt, has pledged to build for the future in his first budget, promising it will deliver growth. he told mp
welcome to the programme. it was budget day here in britain today. a big set piece annual event in which the chancellor stairs into the crystal ball, and tries to predict the future and how best to steer the uk economy through it. the obstacles in his way are common to europe and the united states. high inflation, higher interest rates, and since the pandemic, an intractably acute labour shortage. this graph trackjob vacancies across europe since august 2022, historically high after the pandemic, but you will see the uk, the red line at the very top, is struggling more than most. with 1.1 million vacancies. if more people are employed, more people are paying tax. the good news for the chancellor is that the uk will swerve recession this year thanks to growth returning by the summer. but the economy will still contract by 0.2%. and any brighter news, is tempered by slower growth over the long term. mr hunt said the uk would only grow by 1.8% next year and byjust 2.5% in 2025
finding a way to trade with the uk internal market and also the european single market, border checks between england and scotland, as announced today by the first minister. massive gap in public finances that would have to be breached. that is a recipe for precisely the austerity she say she is worried about. let me say this. if we want economic stability, if scotland wants economic stability, to coin a phrase, we are stronger together. what will the impact of these measures be on the growth rate, and will we still avoid recession? i will we still avoid recession? i will publish the economic forecast from the obr when i make my statement in a fortnight s time. i think it s betterfor statement in a fortnight s time. i think it s better for me to wait until i hear that. but the proper answer to his question is that what we are seeking is long term, sustainable increase in the economic growth rates, and that is a central policy of the prime minister which has my wholehearted su