they raised rates twice, which caused a horrible problem. so what we are now seeing is that markets are going into screeching u turn is, there is expectation that the fed may well not do anything in the next meeting next week, and actually markets are pricing in break cuts, the same sort of thing that the bank of england. so this is really central banks are making big errors, essentially raising rates too fast, having an effect on banks, and obviously think of the uk, think about what is happen there. you raise rates, that has impacted people who have tried to take out new mortgages, that has impacted people s ability to pay student loans. the chancellor has put in an austerity budget which hurts people and it hurts small firms, so small firms default on their loans, student loans, people default on those. danny blanchflower. so people default on those. danny blanchflower. .. so this is ust danny blanchflower. .. so this is just spreading. danny blanchflower. .. so this isjust sprea
and that has gone up as well. what is the reaction been and that has gone up as well. what is the reaction been in and that has gone up as well. what is the reaction been in the - and that has gone up as well. what is the reaction been in the industry and politically? and politically? over the last 24 hours this has and politically? over the last 24 hours this has been and politically? over the last 24 hours this has been trailed - and politically? over the last 24 hours this has been trailed in i hours this has been trailed in particular today, people have been shocked. we got so used to the idea tax breaks on pensions would be cut every year. will he cut tax free lump sums? after successive chancellors have done this year after year, this is a screeching u turn, some would say 18 months before an election but partly driven by the doctors. there is an argument that says senior nhs doctors had been retiring early because of tax limits and he seems to have dealt with that probl
minister of state for pensions. people are being quite shocked because people are being quite shocked because we got so used to the idea that tax because we got so used to the idea that tax breaks on pensions would be cut every that tax breaks on pensions would be cut every year and prior to everybody, there was speculation of taxing everybody, there was speculation of taxing limits and so on, and year after taxing limits and so on, and year after year. taxing limits and so on, and year after year, this is a screeching u-lum after year, this is a screeching u turn. partly driven by the doctors u turn. partly driven by the doctors. there is an argument that says senlor doctors. there is an argument that says senior doctors have been retiring says senior doctors have been retiring early because of taxes and he seems retiring early because of taxes and he seems to have dealt with that problem let s get the verdict of the influential institute for fiscal studies. its di
million limit on how much people can put in their pensions savings over 1.07 a lifetime before paying tax. that cap will now be scrapped. here s sir steve webb, former minister of state for pensions. people are being quite shocked because we got so used to the idea that tax breaks on pensions would be cut every year and prior to everybody, there was speculation of taxing limits and so on, and year after year, this is a screeching u turn. partly driven by the doctors. there is an argument that says senior doctors have been retiring early because of taxes and he seems to have dealt with that problem. here s the bbc s business editor, simonjack, on what the budget means for uk businesses. something they hoped. scheduled from april the 1st. that s the rate of tax paid on profits over £250,000.
off the table, whether tax increases orspending reductions. but off the table, whether tax increases or spending reductions. buti off the table, whether tax increases or spending reductions. but i don t believe it is possible to have a long term, credible, economic growth strategy that does not recognise the vital importance of capital spending. vital importance of capital spending- vital importance of capital sendina. . ,. . spending. even a screeching u-turn can t repair spending. even a screeching u-turn can t repair the spending. even a screeching u-turn can t repair the damage spending. even a screeching u-turn can t repair the damage when - spending. even a screeching u-turn can t repair the damage when we i spending. even a screeching u-turn i can t repair the damage when we have already had the crash. but when the chancellor dismantled trussonomics overnight, why on earth did he decide to carry on boosting banker bonuses in the heart of a cost of living crisis? living cr