Transcripts For BBCNEWS BBC 20240703 : vimarsana.com

BBCNEWS BBC July 3, 2024

Who will set out his economic plans in next months Autumn Statement he has said tax cuts are virtually impossible at present. Live now to manchester to speak to our political correspondent, nick eardley. The focus will be on the Economy Today and tax cuts and some people asking for higher wages as well. Good morning. There will be higher wages for a lotta people because the government is confirming today the National Wage will go up to £11, not a huge surprise because the government follows the recommendations it gets pretty much every opportunity. You are also right tax continues to be a debate within the conservative party, different wings calling for different wings calling for different things. The chancellor saying steady as she goes for the moment, some of the allies of liz truss, they are still around and making those arguments, saying we need to go faster and be bolder with tax cuts and one man involved in drawing up the policy on this is the Chief Secretary to the treasury. Thanks for coming in and chatting to us. This tax debate that are still ongoing within the conservative party, are you going to level with voters and just say, there arent going to be tax cuts before the general election, is that a fair summary . I general election, is that a fair summary . General election, is that a fair summa . ~ ,. , summary . I think the priority given the amount summary . I think the priority given the amount of summary . I think the priority given the amount of borrowing summary . I think the priority given the amount of borrowing we summary . I think the priority given the amount of borrowing we have l summary . I think the priority given the amount of borrowing we have most people the amount of borrowing we have most people understand then we came into power people understand then we came into power three months later we shut down power three months later we shut down the power three months later we shut down the economy, we borrowed a huge sum of down the economy, we borrowed a huge sum of money to support people, businesses, communities, the further scheme, businesses, communities, the further scheme, the businesses, communities, the further scheme, the health service, that debt scheme, the health service, that deht does scheme, the health service, that debt does notjust scheme, the health service, that debt does not just evaporate and we are dealing with the consequences of that and are dealing with the consequences of that and what happened in ukraine on foot that that and what happened in ukraine on foot that day to Energy Prices and that cannotjust be got rid of by a declaration from the chancellor. We are dealing declaration from the chancellor. We are dealing with inflation effects, seeing are dealing with inflation effects, seeing inflation get lower. Its due to get seeing inflation get lower. Its due to get to seeing inflation get lower. Its due to get to 5 by the end of the year, most to get to 5 by the end of the year, most unless to get to 5 by the end of the year, most unless an economist say so and further most unless an economist say so and further on most unless an economist say so and further on it most unless an economist say so and further on it will go lower. Further on it will go lower. Thats the key question further on it will go lower. Thats the key question most further on it will go lower. Thats the key question most people i further on it will go lower. Thats l the key question most people here are asking. In the key question most people here are askinu. , are asking. In every fiscal event ive been are asking. In every fiscal event ive been involved are asking. In every fiscal event ive been involved in, are asking. In every fiscal event ive been involved in, working l are asking. In every fiscal eventl ive been involved in, working for the treasury in the last six or seven the treasury in the last six or seven years, we do not announce decisions seven years, we do not announce decisions at seven years, we do not announce decisions at fiscal events. You know the economists and those that observe the economists and those that observe these things change their predictions of the time but our Priority Predictions of the time but our priority is predictions of the time but our priority is to get Inflation Down, the best priority is to get Inflation Down, the best thing we can do for households and businesses up and down households and businesses up and down the households and businesses up and down the country. Households and businesses up and down the country. What will you do a 12 30m down the country. What will you do a 12 30pm when down the country. What will you do a 12 30pm when the down the country. What will you do a 12 30pm when the stress down the country. What will you do a 12 30pm when the stress is down the country. What will you do a 12 30pm when the stress is making l 12 30pm when the stress is making her speech, would you have your head in your hands . I her speech, would you have your head in your hands . In your hands . I am not surprised conservative in your hands . I am not surprised Conservative Backbench in your hands . I am not surprised Conservative Backbench mps in your hands . I am not surprised Conservative Backbench mps talk| Conservative Backbench mps talk about Conservative Backbench mps talk about tax Conservative Backbench mps talk about tax cuts and we all believe as about tax cuts and we all believe as a party about tax cuts and we all believe as a party in about tax cuts and we all believe as a party in trying to do everything we can a party in trying to do everything we can to a party in trying to do everything we can to reduce the size of the state we can to reduce the size of the state and we can to reduce the size of the state and give hard working people up state and give hard working people up and state and give hard working people up and down the country more of their up and down the country more of their money back and spent Taxpayers Money their money back and spent Taxpayers Money wisely. Of course there is always money wisely. Of course there is always going to be tension for me do that and always going to be tension for me do that and i always going to be tension for me do that and i will listen carefully to all of that and i will listen carefully to all of those use colleagues. Is it helful all of those use colleagues. Is it helpful that all of those use colleagues. Is it helpful that liz all of those use colleagues. Is it helpful that liz truss all of those use colleagues. Is it helpful that liz truss is turning up again and making the argument she was making last year . People might wonder why she is still around at the tory conference, given the disastrous tenure ship she had . I disastrous tenure ship she had . I listen to all of my colleagues, she is an listen to all of my colleagues, she is an mp. Listen to all of my colleagues, she is an mp, but i am focused on how we ensure is an mp, but i am focused on how we ensure inflation continues to go down ensure inflation continues to go down. That is the priority of this government and that gives us choices for high government and that gives us choices for high Productivity Growth which we are for high Productivity Growth which we are confident will emerge next year we are confident will emerge next ear. , w we are confident will emerge next ear. Y. , we are confident will emerge next ear. ,. , year. Let me ask you about hst. I think the line year. Let me ask you about hst. I think the line is year. Let me ask you about hst. I think the line is this year. Let me ask you about hst. I think the line is this week year. Let me ask you about hst. I think the line is this week you year. Let me ask you about hst. I think the line is this week you will not speculate on what might happen with hst but can you tell us how that decision will be made and when will we know if hs2 reaches the city of manchester . This will we know if h52 reaches the city of manchester . Will we know if h52 reaches the city of manchester . As Chief Secretary i see vast amounts of manchester . As Chief Secretary i see vast amounts of of manchester . As Chief Secretary i see vast amounts of public see vast amounts of public expenditure, Taxpayers Money, it is not mine expenditure, Taxpayers Money, it is not mine. And we should be continuing to look at value for money continuing to look at value for money across government. That process money across government. That process is money across government. That process is ongoing, there is not a single process is ongoing, there is not a single Point Process is ongoing, there is not a single point of crystallisation. There single point of crystallisation. There is single point of crystallisation. There is not a point at which he will make the decision and tell the north of england . The will make the decision and tell the north of england . Will make the decision and tell the north of england . The Prime Minister will ultimately north of england . The Prime Minister will ultimately make north of england . The Prime Minister will ultimately make the north of england . The Prime Minister will ultimately make the decision. Will ultimately make the decision. That is will ultimately make the decision. That is a will ultimately make the decision. That is a matter for the Prime Minister that is a matter for the Prime Minister. As he cut this week . That is a matter minister. As he cut this week . That is a matter for the Prime Minister. I is a matter for the Prime Minister. I know is a matter for the Prime Minister. I know you is a matter for the Prime Minister. I know you want to keep people saying i know you want to keep people saying the same answer. But i know you want to keep people saying the same answer. But you know wh we are saying the same answer. But you know why we are asking saying the same answer. But you know why we are asking because saying the same answer. But you know why we are asking because a saying the same answer. But you know why we are asking because a lot saying the same answer. But you know why we are asking because a lot of why we are asking because a lot of people speculating privately in government the decision had pretty much been made that yoga would count the birmingham to manchester line. All i can tell you that is that capital all i can tell you that is that Capital Investment in our infrastructure, part of 600 billion of capital infrastructure, part of 600 billion of Capital Investment we make as a government, is very important but its important we get value for money its important we get value for money but what i would also say to you since money but what i would also say to you since the pandemic we have seen significant you since the pandemic we have seen significant reductions in people using significant reductions in people using the rail infrastructure, 30 less using the rail infrastructure, 30 less at using the rail infrastructure, 30 less at the using the rail infrastructure, 30 less. At the same time we on 30 billion less. At the same time we on 30 billion of less. At the same time we on 30 billion of subsidy for people using rail. Billion of subsidy for people using rail~ must billion of subsidy for people using rail. Must look at what we see and what rail. Must look at what we see and what is rail. Must look at what we see and what is the rail. Must look at what we see and what is the right thing for the country what is the right thing for the country as a whole. The chancellor and the work country as a whole. The chancellor and the work and country as a whole. The chancellor and the work and pensions country as a whole. The chancellor i and the work and Pensions Secretary will talk about benefits today and reforms of the Benefits System so can i ask you a slightly different question . Will you erase benefits in line with inflation or might you try and save some cash by doing it the same rate as wages . And save some cash by doing it the same rate as wages . There is another treat same rate as wages . There is another great mechanism same rate as wages . There is another great mechanism as same rate as wages . There is another great mechanism as you same rate as wages . There is another great mechanism as you know, same rate as wages . There is another great mechanism as you know, every| great mechanism as you know, every year. Great mechanism as you know, every year. For great mechanism as you know, every year, for pensions and benefits. The secretary year, for pensions and benefits. The secretary of year, for pensions and benefits. The Secretary Of State for work and Pensions Secretary of state for work and pensions is looking carefully at that and pensions is looking carefully at that and what that should be. But are the that and what that should be. Are they both that and what that should be. Eli are they both options . That and what that should be. But are they both options . There that and what that should be. But are they both options . There is that and what that should be. But are they both options . There is a l are they both options . There is a rocess are they both options . There is a process for are they both options . There is a process for evaluating are they both options . There is a process for evaluating that are they both options . There is a process for evaluating that as are they both options . There is a process for evaluating that as we | process for evaluating that as we move process for evaluating that as we move towards the Autumn Statement. Last year. Move towards the Autumn Statement. Last year, people now a cabinet were turning up going bonkers suggesting that you will put benefits up below the rate of inflation so a real terms cut but can you rule that out this year . Terms cut but can you rule that out this ear . ~. , this year . When we get into the ourne this year . When we get into the journey up this year . When we get into the journey up to this year . When we get into the journey up to a this year . When we get into the journey up to a fiscal this year . When we get into the journey up to a fiscal event this year . When we get into the journey up to a fiscal event and | this year . When we get into the i journey up to a fiscal event and we have journey up to a fiscal event and we have the journey up to a fiscal event and we have the Autumn Statement confirmed for the have the Autumn Statement confirmed for the 20th of november, there will inevitably for the 20th of november, there will inevitably be a range of input and you will inevitably be a range of input and you will see a lot of them at the fringe you will see a lot of them at the fringe events at conference but the treasury fringe events at conference but the treasury is fringe events at conference but the treasury is focused on putting together treasury is focused on putting together a package of intervention that brings Inflation Down and sets the conditions for growth and uses taxpayer the conditions for growth and uses taxpayer money efficiently and effectively. As i said, there is a mechanism for upgrading benefits in line with mechanism for upgrading benefits in line with inflation and the relationship with earnings and that is something we will look at and in the end. Is something we will look at and in the end. It is something we will look at and in the end, it is the work and Pensions Secretary the end, it is the work and Pensions Secretary talking to the chancellor that will secretary talking to the chancellor that will resolve that. Let secretary talking to the chancellor that will resolve that. That will resolve that. Let me ask ou about that will resolve that. Let me ask you about the that will resolve that. Let me ask you about the brother that will resolve that. Let me ask you about the brother at that will resolve that. Let me ask you about the brother at conference. Quite often the most interesting conversations you half are in the bars and on french meetings, these interviews are not interesting. Of the record i am quite strapped over quite lot of activists telling me and my colleagues in the journalistic world that they are not really sure Rishi Sunak Has hit the Ground Running at this conference. Feels a bit flat so far, yes he has lots of energy but there havent been any big idea so far so when will that change . I do been any big idea so far so when will that change . Will that change . I do not accept that at all will that change . I do not accept that at all. | will that change . I do not accept that at all. | think will that change . I do not accept that at all. | Think Rishi Will that change . I do not accept that at all. I think rishi sunak. Will that change . I do not acceptl that at all. I think Rishi Sunak Has ot that at all. I think Rishi Sunak Has got a that at all. I think Rishi Sunak Has go

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