Show Notes
Next Wednesday, Chancellor John Healey will lay out the first Budget of Andy Burnham’s premiership.
Last month, in his first conference speech as Prime Minister, Burnham promised the Labour party faithful ‘a new social contract for the 21st century’: greater public control of water and energy, a National Care Service and more council homes. Although he was careful to say his plans for Britain stretch across multiple Parliaments, next week his Chancellor has to pay for the first step towards that vision - with the nation’s finances under serious strain.
Inflation is higher than in France or Germany, borrowing is £8.1 billion above forecast for the first five months of the year, and national debt is close to 95% of GDP. The 30-year gilt yield, the same bond market measure that brought down Liz Truss, briefly topped 6%, its highest level since the late 1990s.
So, with financial markets breathing down Healey’s neck, what can we actually expect? Tax and spend? Steady as she goes? Or something totally unexpected? And what can you do to protect your hard-earned cash? On this special episode of Deep Dive, This Is Money’s Simon Lambert is joined by Political Editor James Tapsfield, fresh from Prime Minister’s Questions, to speculate.
Host: Simon Lambert Producer: William Colledge Executive Producer: Joseph Luke Palmer
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