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students $200 on average. borrowers would repay $470 billion in debt according to the and wharton model. that's more than president biden's student loan forgiveness was expected to cost. paul: $407 billion. what legislative authority is the president calling for? >> 0, just waving it into magic executive order. let's get cynical about this. clearly after the first one was struck down by the supreme court, they are back and the point is democrats joe biden really want the college vote or the vote of recently graduated college students carrying this debt. the political question is by putting the subject in front of people so often will it build resentment as suggested with the first one among young
party leader and therefore by default voting on who is to be the next prime minister. it default voting on who is to be the next prime minister.— default voting on who is to be the next prime minister. it could be a lona next prime minister. it could be a long process- _ next prime minister. it could be a long process. thank _ next prime minister. it could be a long process. thank you - next prime minister. it could be a long process. thank you very - next prime minister. it could be a l long process. thank you very much indeed. the former chancellor has already received the backing of one of the party's so—called red wall mps, jacob young, mp for redcar. here he explains why. i think you only need look at the measures that rishi's already implemented which helped working people up and down the country, whether that's the changes he made to universal credit so people could keep more of their money there, whether that's the changes he's made to national insurance, which benefit the lowest well—off, whether it's the interventions he made on energy and giving people a discount if they lived in council tax bands a—d. all of his measures are focused on helping people who need help the most. i think that's been his record while he was chancellor, and i think that he'll continue to do that as prime minister as well. we spent £407 billion during a once—in—a—lifetime, once—in—ioo—years pandemic,
whether that's the changes he made to universal credit so people could keep more of their money there, whether that's the changes he's made to national insurance, which benefit the lowest well—off, whether it's the interventions he made on energy and giving people a discount if they lived in council tax bands a—d. all of his measures are focused on helping people who need help the most. i think that's been his record while he was chancellor, and i think that he'll continue to do that as prime minister as well. we spent £407 billion during a once—in—a—lifetime, once—in—100—years pandemic, putting our arms around the country, supporting people's livelihoods. through the furlough scheme, we saved 11 million jobs, we saved millions of businesses through the grants that we intervened with, so i think that rishi's proven himself to be someone who comes to support when it's required. he's the only candidate, i believe, who can restore trust, rebuild the economy, reunite the country and, crucially, win the next general election.
many people can point to the way that really isn't true, that he is a high chancellor. he has also borrowed huge amounts of money, which a fiscal conservative like him would not do. the national insurance increase that was brought in at a time when so many people were surely saying they could not afford it, that was ushered in under his time as a chancellor.— that was ushered in under his time as a chancellor. well, we spent £407 billion during — as a chancellor. well, we spent £407 billion during a _ as a chancellor. well, we spent £407 billion during a once-in-a-lifetime, l billion during a once—in—a—lifetime, once in 100 years pandemic, putting their arms around the country, supporting people's livelihoods. we saved 11 millionjobs, we save millions of businesses, so i think rishi has proven himself to support people when it is required. is the only candidate i believe can restore trust, rebuild the economy, reunite the country and, crucially, when the next general election. hoar
having spent £407 billion or more to support lives and livelihoods throughout the pandemic, from furlough to vaccines, it would be wrong for me to say that we can pay for this recovery without taking the difficult but responsible decisions about how we finance it. as a permanent additional investment in health and social care board, it would be irresponsible to meet the costs from higher borrowing and higher debts. from next april, we will create and new uk wide1.25% health and social care board levy on earned income hypothecated in law to health and social care board, with dividend rates increasing by the same amount. this will raise almost £36 billion over the next three years, with money from the levy going directly to health and social care board across the whole of our united kingdom. this once they pay
were no good arguments for using national insurance to racist money, and people are disappointed about these plans, but why is it necessary at all? this will raise around £12 million a year, whereas that brexit promise of £350 million a week would more than pay for it. did it ever exist? i i, more than pay for it. did it ever exist? ~ i, , more than pay for it. did it ever exist? i i, , , ., , more than pay for it. did it ever exist? i i, , , i, , exist? whole country understands we have been through _ exist? whole country understands we have been through a _ exist? whole country understands we have been through a pandemic- exist? whole country understands we have been through a pandemic that i have been through a pandemic that obliged treasury to spend £407 billion protecting peoplejobs and livelihoods through furlough and other measures across scotland and that was the right thing to do and people also understand it is the reasonable and responsible thing to do that it should put the nhs back on its feet with funding in need and social care as well, and that is what we are doing. i5
no—one with assets below £20,000 will have to pay for their social care costs. and there's to be means—tested help from the state for those with assets between £20,000 and £100,000. the government is also increasing the tax on share dividends by 1.25% points to help pay for this. this is what the prime minister had to say earlier. having spent £407 billion or more to support lives and livelihoods throughout the pandemic from further out to vaccines it would be wrong for me to say we can pay for this recovery without taking the difficult but responsible decisions about how we finance it. figs difficult but responsible decisions about how we finance it. $5 a about how we finance it. as a permanent — about how we finance it. as a permanent additional - about how we finance it. sis —. permanent additional investment about how we finance it. is —. permanent additional investment in health and social care, it will be irresponsible to meet the cost from higher borrowing and higher debt. from next april we will create a new
have all said, but the fact is, that nobody in any manifesto that i read saw a pandemic coming in which the country had to spend many billions of pounds, 407 billion, supporting people up and down the country and putting us in a fixly very difficult situation, or putting a great deal of pressure on the finance, and what we did say, in that, we said two things in that manifesto, that, yeah, i have to take a judgment, make a choice, about what i think is the highest priority, and i think what the people of this country will want, after what we have been through, is honesty and fairness and rationality about the situation, and that means making sure that we don't just leave the burden to mount up for future just leave the burden to mount up forfuture generation, just leave the burden to mount up for future generation, that we do address the costs of the pandemic on the nhs, which have been colossal. we need to fix those now but we need
this is a progressive and broad test measure —— the institute for fiscal studies have said today. it's right but with the broadest shoulders should bear out the biggest burden and that is what we are doing. the 14% of the wealthiest 14% of the population will pay at least half of this burden. i say to those who say we should not be raising taxes now, i think everybody knows the extent of this government's commitment of the financial commitment the government has made to the country during the pandemic, £407 billion to providejobs, supportjobs during the pandemic, £407 billion to provide jobs, supportjobs and provide jobs, support jobs and livelihoods provide jobs, supportjobs and livelihoods through all manner of schemes. it has been hugely expensive but at the right thing to do but it's also now the right thing
street two years ago i said i wanted an extra 25 officers on the streets of our country, we are now almost have way there. of course, it has been a tough time financially for the whole country. we have had to deal with the cost of the pandemic, about £407 billion supporting jobs and livelihoods across the country. what we are seeing today are plans to back the police, but also backed the public so if you are victim of a crime you have a crime you have an unnamed police officer that you can go to wherever you live who will attend you and make sure that we deal, the police deal with this crime. the point of that is safe to do that in some parts of the country already, but what you need is somebody who understands what is going on in your neighbourhood, who understand through the likely miscreants are, who can understand the crime that you are experiencing is a one—off or part of a trend and can really help to deal with it. we