to pay stamp duty. i found that out this morning. that s good. it s a trickle down budget. sometime in the future, we may see a benefit, if all goes well. but the poor need help right now. in nother news, four russian occupied areas of ukraine are staging referendums on whether to become part of russia. western governments call them a sham. the first woman to win the booker prize twice, the celebrated author dame hilary mantel, has died at the age of 70. hello. in a massive shake up of the uk s finances, the chancellor kwasi kwarteng has outlined a series of tax cuts and spending commitments that will cost £45 billion by 2027. the independent institute for fiscal studies has described the announcements as the biggest tax cutting budget in 50 years. the government says its policies will help boost economic growth yesterday the bank of england warned the uk may already be in recession. but critics say funding the tax cuts will lead to unsustainable borrowing. the chancellor an
spending. nave got better with two people, claiming the thatcherite mantle. in very different ways. so it is a battle on the right of the tory party. the focus is on tax cuts. when is the debate but not should there be. there is no focus on the role of the state as demands on the role of the state as demands on the role of the state as demands on the state are growing. and so it is a return to that sort of 1980s thatcherism, that very erratically the tory party have been trying to move away from. thatcherism incidentally, absolutely a product of its time. the late 70s and early 80s. not the situation we are in now. but she cast a spell over its membership. at least two candidates. and it is a very narrow contest, in that respect. you were reporting from london when margaret thatcher was prime minister. as steve rightly says, circumstances are different but the debate is over notjust taxation and the fact we ve got the highest tax burdens. therefore that is something that she
Between social responsibility and the responsibility to between social responsibility and the responsibility to the - between social responsibility and | the responsibility to the markets. category the responsibility to the markets. category one the responsibility to the markets. category one is the responsibility to the markets. category one is all the responsibility to the markets. category one is all about - the responsibility to the markets. category one is all about where l category one is all about where spending category one is all about where spending cuts category one is all about where spending cuts will category one is all about where spending cuts will hurt - category one is all about where spending cuts will hurt the - category one is all about where i spending cuts will hurt the most. this is spending cuts will hurt the most. this is an spending cuts will hurt the most. this is an incredibly spending cuts will hurt the most. this is an incredibly tricky-
Brexit yet, and doesn t thereon risk for people on the other side of the debate to be a bit gleeful and say it was all because of that, i was right? not everything we are facing at the moment not everything we are facing at the moment is not everything we are facing at the moment is because of brexit, there has been moment is because of brexit, there has been a moment is because of brexit, there has been a series of things happening since then, not least the mini budget, the irony of which, intending mini budget, the irony of which, intending to be a tax cutting budget, intending to be a tax cutting budget, is that taxes will be higher than they budget, is that taxes will be higher than they otherwise would have been because than they otherwise would have been because we need to get back to credibility. but with brexit, it is clear credibility. but with brexit, it is clear that credibility. but with brexit, it is clear that when you look at investment and trade, it has