why. amount of that. you can see that is why. even amount of that. you can see that is why, even though you have had some cuts in why, even though you have had some cuts in taxes. why, even though you have had some cuts in taxes, the real disposable income cuts in taxes, the real disposable income is cuts in taxes, the real disposable income is still being squeezed as a law it income is still being squeezed as a law it describes by the fastest amount law it describes by the fastest amount we have on record. that seems amount we have on record. that seems a aood amount we have on record. that seems a good point amount we have on record. that seems a good point to amount we have on record. that seems a good point to welcome amount we have on record. that seems a good point to welcome helen - a good point to welcome helen whately, treasury minister. welcome to this special and he was on the news channel, the biggest fall in living standards in any financial year since
average 7.4% for the rest of this ear. , ., , .,~ ., ., , average 7.4% for the rest of this ear. ,., , ., ., year. yes, and eight peak towards 996 b the end year. yes, and eight peak towards 996 by the end of year. yes, and eight peak towards 996 by the end of the year. yes, and eight peak towards 996 by the end of the year year. yes, and eight peak towards 996 by the end of the year and year. yes, and eight peak towards 996 by the end of the year and what - year. yes, and eight peak towards 996 by the end of the year and what they l by the end of the year and what they are also saying that when you take into account that and their protection is about earnings, this will be the worst year, in their words, for living standards since records began in 1956. which is a pretty extraordinary thing to say and critically strong words from the government independent public sector organisation, the office for budget responsibility. find organisation, the office for budget responsibility-
an earmarked fund, every single penny will go to the nhs and social care. does that mean £6 million now less goes to the nhs and social care. it was a fiction at the time. he said i have to increase it because he said i have to increase it because every penny will go to the nhs, because every penny will go to the nhs, and because every penny will go to the nhs, and then he took away 6 billion nhs, and then he took away 6 billion. but it s a myth, it doesn t have billion. but it s a myth, it doesn t have anything to do with the amount going have anything to do with the amount going to have anything to do with the amount going to the nhs. the have anything to do with the amount going to the nhs- have anything to do with the amount going to the nhs. the thing to watch is public-sector going to the nhs. the thing to watch is public-sector pay going to the nhs. the thing to watch is public-sector pay because - going to the nhs. the thing to watch is public-sector pay bec
rishi sunak is having chosen overtly with that and the promise of an income tax, he had a windfall, a bit of freedom today in a grim picture and he s chosen to put some of that freedom to polish up his own credentials as somebody who believes in tax cuts. that s an interesting political choice, but in terms of the government explaining this, there is a bit of hokey coqui. you can have a bit back here, but i m going to take a bit more here, and whether that is coherent in terms of ideological way of looking at it, i m not so sure. but i think today no question it will keep a lot of people in the tory party happy because they will be able to say, look, we are cutting income tax! big caveat, in two years time but i have never seen a chancellor tie not just his own or potentially his successors are a whole party s election campaign to have their hands tied at this stage in the cycle. hands tied at this stage in the cle. ~ ., ., hands tied at this stage in the cle. ~ . . , , hands tied at
really important to look at the nuance and the different details in black and white, the overall picture for the public, for the politicians, is going to be one that is very testing in a couple of years into the running in the next general election. , ., , the running in the next general election. , ., election. and if people don t feel better by the election. and if people don t feel better by the time election. and if people don t feel better by the time of election. and if people don t feel better by the time of the - election. and if people don t feel better by the time of the next. better by the time of the next general election, this could still cost the conservatives dearly. they can point to all sorts of emotions that have been taken, that you outlined, faisal, and simon, less so for businesses certainly, but if people feel worse off, and if you feel better or worse off by the next election, it ll cost them at the ballot box. election, it ll cost them at the ballot b