Episode Transcript
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Speaker 1 (00:00):
Devin Gray is a UK corresponding with us. Now, Hey, hey, Gavin,
Heppy budget day to you.
Speaker 2 (00:04):
I've ever.
Speaker 1 (00:07):
Hi, Yeah, yeah, I feel like I've got to say
it again, Heppy budget Day to you, because I feel
like it's not it's not going to be a Heapy
budget day, is it.
Speaker 2 (00:13):
No? I suspect it won't be. And this is something
the government has been giving briefings to counter briefings U
turn speculation about what's going to be in this the
Chancellor laying out her plan for the economic future of
the UK, both the income, the tax intake and also
the expenditure. And I've never known a budget so widely leaked.
(00:35):
And then so in some instances widely you turned. So
we think we're being softened up for tax rises, income
tax rises paid out of our salary. Then all of
a sudden, there's a screeching you turn on that. And
now it looks like they are going to keep the
thresholds for paying tax and tax at different levels frozen again.
So of course, as everyone earns a bit more, their
(00:57):
salary creeps up, and that means that some people will
now enter a new income tax threshold, a hire one
or indeed start paying tax where they've never paid it before.
It seems to be the least unpalatable solution, and the
government here desperately aware it is unpopular. The ratings of
the Prime Minister and the Chancellor are low, and many
(01:19):
in their own party are threatening to vote against what
they don't like. So this is a crucial moment in politics,
a crucial moment for the government. All the economic data
suggest tax rises, that tax take is going to have
to increase, and yet at the same time, the government's
plans for public spending on public services, healthcare, schooling, policing,
(01:40):
all has under huge pressure to rise. So this is
a real balancing act, not just economically but politically too,
with some predicting if it doesn't go down well with
the public and with MPs, then we could be looking
at a leadership battle.
Speaker 1 (01:55):
Well that seems the most likely outcome, doesn't it. And
I've been scratching my head about this, Kevin, like, the
only way that she gets herself in Keostama out of
this hole is that there is some sort of an
amazing surprise in the budget that completely blows everyone away.
But there just isn't the money for that. So what
are the chances of that.
Speaker 2 (02:13):
No, I think you're right. There isn't the money for that.
And there's all sorts of reports that Middle England, those
who earn not excessive amounts of money in average amount,
they are going to be taxed more, and that money
is going to go to those that don't work at all,
be that for ill health or be that for just
being unemployed. Certainly the demand is ever ever increasing, and
(02:38):
any signs that this government has ever shown to try
to reduce the benefits bill and reduce spending seems to
be overturned by its own backbenches. So there's a lot
going on here, and well everyone I suspect will be
glued to their radio in just under seven hours time
when it all starts. But as I said, a lot
of people as well saying, look, you've really leaked so
(02:59):
much much of this already, and that has had an
effect on the money markets. It's led to uncertainty, and
markets don't like uncertainty, and they are solely to blame
for doing that, and that should not have been something
which this government embarked.
Speaker 1 (03:13):
Bomb Even have they arrested more people over this heist
with the.
Speaker 2 (03:17):
Louver, yes, they have now Heather. There are four extra
people have been arrested. They are aged two men thirty
eight thirty nine, two women thirty one and forty, all
from the Paris region, and according to the French media,
among them is thought to be the last member of
the four man gang that allegedly carried out the daylight heist.
(03:38):
The other three suspected thieves have already been arrested and charged.
Police now have ninety six hours to question the new
group of four, but still no trace of the duels
has ever been found. Said to be worth about one
hundred and seventy five million New Zealand dollars taken on
the nineteenth of October, and it looks as well now
(04:00):
they are obviously believing that this was not some amazing
mastermind and incredibly experienced group. They actually believe them to
be sort of opportunists. But it seems so odd that
an opportunist should have a hydraulic lift on the back
of a lorry to try and access the gallery to
(04:22):
try and take these things out. So quite extraordinary that
they believe this is petty criminals rather than organized crime professionals.
Speaker 1 (04:29):
Yeah, very fascinating stuff. Gavin Listen, good luck today. I
hope you come out of the day not feeling too miserable.
That's Devin Gray, UK correspondent. I imagine that we're going
to be talking a lot about the budget tomorrow.
Speaker 2 (04:39):
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