looming recession, stretched government budgets. who s responsible for this mess, mr hunt? the answer is, of course, in part his own predecessor. jeremy hunt says his task now is to tackle inflation, meaning that is the biggest threat we face. high inflation is the enemy of stability. it means higher mortgage rates, more expensive food and fuel bills, businesses failing and unemployment rising. it erodes savings, causes industrial unrest and cuts funding for public services. it hurts the poorest the most and eats away at the trust upon which a strong society is built. so he said just over half the measures he s planning will be tax increases. every earner will be affected, the thresholds at which tax is paid frozen for five years, but he highlighted that unlike liz truss s budget, taxes are not being cut for the richest. asking more from those who have more
the pandemic or the war in ukraine. this conservative government has plunge the economy into chaos and forcing ordinary families to pay for their incompetence. for an average family this will mean thousands of pounds in increased taxes and bills. yet their local services are being cut while their real terms pay is decreasing. the reality is we will all be living with the disastrous consequences of trussonomics for some time to come. he has created new targets because he has failed to meet the old one. and his difficult choices are nothing compared to what our constituents face. it all means a tough winter and a hard couple of years are coming. damian grammaticas, bbc news, westminster. first, let s hear a little bit more from first, let s hear a little bit the office for budget responsibility says that despite the provision by the government of more than £100 billion of additional support over the next two years, the economy will still fall into recession, wiping out
standards, this is not a very happy record. sometimes the economy can grow and it doesn t do anything to improve peoples living standards, it is adding people would only improve the living standards of people at the living standards of people at the very top of the wealth pile, if you like. this is disappointing for people who have to face not only what we know are facing now, higher bills, highershopping prices, but also an ongoing deterioration of their living standards through 2025. will be back with you but we are going to return to capitol hill and here is nancy pelosi. here is nancy pelosi. american democracy- i here is nancy pelosi. american democracy. i would here is nancy pelosi. american democracy. i would never- here is nancy pelosi. american. democracy. i would never forget here is nancy pelosi. american - democracy. i would never forget the first time i saw the capital. he is on a cold january day six years old and my father was about to be sworn in for his fifth term
talking i think from the young people i am talking to, i think from the young people i am talking to, it isjust a case of they talking to, it isjust a case of they have talking to, it isjust a case of they have nowhere to go any more. they really they have nowhere to go any more. they reallyjust want a warm space where they reallyjust want a warm space where they they reallyjust want a warm space where they can sit and have fun with their friends. where they can sit and have fun with theirfriends. but where they can sit and have fun with their friends. but because of the cost of their friends. but because of the cost of living at the moment, it is really cost of living at the moment, it is really hard cost of living at the moment, it is really hard for spaces to open and provide really hard for spaces to open and provide that for them. was really hard for spaces to open and provide that for them. provide that for them. was there alread a provide that for them. was the
innovation and i struggle to reconcile the amazing opportunities i know we have ahead of us as a country with a kind of depressing prospectus we had. of course, what was announced today is a reflection on the last 12 weeks of absolute chaos. the reasonjeremy hunt is chancellor is because of that. but it was also a reflection, frankly, of 12 years of conservative failure, on the poor growth on the economy and the difficult decisions that have accrued because of that. and frankly, nothing i heard gave me a sense this is the level of reset and ambition that i think we need and off you see what i really want is a general election where we can put ourideas general election where we can put our ideas forward and let the public decide on the way forward. but our ideas forward and let the public decide on the way forward.- decide on the way forward. but the chancellor called decide on the way forward. but the chancellor called this decide on the way forward. but the chancellor called this