whispering it, even a turning point. the markets open on monday and some on sunday night, what is your assessment of how they will react? first of all, a large chunk of this is driven by the turmoil in the markets over the last few weeks. the pounds have been battered and government spending has gone through the lee ruth. the bank of england and its emergency step in to help pension funds, the initial reaction as they are cautiously optimistic and they thinkjeremy hunt is a man they can trust. credibility remains pretty low however, it is a low point and the problems remain. the government still wants to borrow tens of billions of pounds to help everybody out with their energy bills and the cost of living. that will need paid for. the institute for fiscal studies said it could be below inflation pay rises in the
this has been seen as a sort of reality check really and possibly, whispering it, even a turning point. yeah and the markets open on monday or sunday night, so what is your assessment, your thoughts of how they are going to react? first of all, a large chunk of this is driven by the turmoil we ve seen in the markets over the last few weeks, the pound has been battered, the cost effectiveness of government birriwing has gone through the roof along with many people s mortgage rates as well. inflation stubbornly high, the bank of england having to emerge and step in to prop up pension funds. the initial reaction of people i spoke to today said they are cautiously optimistic, they welcome this fresh thinking. they thinkjeremy hunt is a money contrast, he gets it, in city speak. but yes, the credibility remains pretty low and it comes with quite a low point. the problems remain. the government still wants to borrow tens of billions of pounds to help everyone out with their energy bills and
first of all, a large chunk of this is driven by the turmoil we ve seen in the markets over the last few weeks, the pound has been battered, the cost effectiveness of government birriwing has gone through the roof along with many people s mortgage rates as well. inflation stubbornly high, the bank of england having to emerge and step in to prop up pension funds. the initial reaction of people i spoke to today said they are cautiously optimistic, they welcome this fresh thinking. they thinkjeremy hunt is a money contrast, he gets it, in city speak. but yes, the credibility remains pretty low and it comes with quite a low point. the problems remain. the government still wants to borrow tens of billions of pounds to help everyone out with their energy bills and rising cost of living. that will need paying for. talking to the institute for fiscal studies earlier today, they said that sort of thing we could be looking at is very below inflation pay rises in the public sector and tight spend
northern ireland and wales, some care costs are already capped. well, we can now speak to the former conservative health secretary, stephen dorrell and chair of the health select committe. he joins us live from worcester. thank you very much, good to speak to you again. do you sharejeremy hunt s belief that in the end, some kind of rise in taxation will be needed to fund this?- needed to fund this? yes, i absolutely needed to fund this? yes, i absolutely agree needed to fund this? yes, i absolutely agree with - needed to fund this? yes, i l absolutely agree with jeremy needed to fund this? yes, i - absolutely agree with jeremy about that. i think it s welcome, actually, on the narrow issue of social care, that the government is quite clearly speculating in public now about which tax it ll raise not whether it ll raise tax, but which tax it ll raise in order to address the social care crisis. but i thinkjeremy hunt is also quite right to say that you can t address social care on i