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BBCNEWS The July 4, 2024

Will save the average worker about £75. But is that the budget rabbit that conservative backbenchers were after . The answer plainly is no, but the truth is, there was simply not enough money to deliver the cut in income tax they had demanded. After the measures announced today, the Office For Budget Responsibility estimated the chancellor has just £8. 9 billion of headroom left, down from the 13 billion he had in the autumn statement. That the second smallest on record, yet the chancellor gave us a relatively optimistic view of the economy, after covid, a war in europe, and the damage inflicted on the british economy economy this, he said, was a budget for long term growth. Todays obr forecast also shows that we have made Good Progress on the Prime Ministers three economic priorities. Compared to when ....

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BBCNEWS BBC News June 4, 2024 14:07:00

Those rates are rising, rising fast, faster than was expected in march, and so the government forecasts suggest that in five years instead of spending £50 billion roughly on servicing the national debt, we will be spending around £100 billion. this is notjust the consequence of the midyear budget the mini budget, what people are called the liz truss premium, because this is a longer term trend? it is liz truss premium, because this is a longer term trend? longer term trend? it is a longer term trend longer term trend? it is a longer term trend which longer term trend? it is a longer term trend which has longer term trend? it is a longer term trend which has happened l longer term trend? it is a longer i term trend which has happened to lots of countries, interest rates and the expectations of those rates rose a lot between march and the sum and they did rise a big amount after the mini budget but they have fallen back march and the summer. the situation on debt interest ....

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BBCNEWS BBC News June 4, 2024 14:06:00

Get this into an easily understandable form. how would you headline this autumn statement? if you were asked to do so for a newspaper. you were asked to do so for a newspaper- you were asked to do so for a newspaper. you were asked to do so for a newsa er. ~ , . , newspaper. the key thing that is auoin on newspaper. the key thing that is going on is newspaper. the key thing that is going on is that newspaper. the key thing that is going on is that because - newspaper. the key thing that is going on is that because the - newspaper. the key thing that is| going on is that because the price of energy is going up and the price of energy is going up and the price of other important goods are going up, we are poorer as a country, so we are poorer and the chancellor is having to deal with this just as households and businesses have to deal with it. households and businesses have to deal with it- deal with it. even though taxes are at a record deal with it. even though taxes are at a ....

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