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BBCNEWS The Context with Christian Fraser July 6, 2024

welcome to the programme. it was budget day here in britain today. a big set piece annual event in which the chancellor stairs into the crystal ball, and tries to predict the future and how best to steer the uk economy through it. the obstacles in his way are common to europe and the united states. high inflation, higher interest rates, and since the pandemic, an intractably acute labour shortage. this graph trackjob vacancies across europe since august 2022, historically high after the pandemic, but you will see the uk, the red line at the very top, is struggling more than most. with 1.1 million vacancies. if more people are employed, more people are paying tax. the good news for the chancellor is that the uk will swerve recession this year thanks to growth returning by the summer. but the economy will still contract by 0.2%. and any brighter news, is tempered by slower growth over the long term. mr hunt said the uk would only grow by 1.8% next year and byjust 2.5% i ....

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BBCNEWS The Context with Christian Fraser June 4, 2024 22:00:15

Transcripts for BBCNEWS The Context with Christian Fraser 20240604 22:00:15
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BBCNEWS The Context with Christian Fraser June 4, 2024 21:38:00

Real issue later. but you are right, there is a real issue around the logistics, literally real issue around the logistics, literally finding enough people to id literally finding enough people to go into literally finding enough people to go into the childcare sector. also, an issue go into the childcare sector. also, an issue of go into the childcare sector. also, an issue of the business model. many childcare an issue of the business model. many childcare providers really struggling on the rates the government is providing, one of the things government is providing, one of the things the government is providing, one of the things the chancellor did today was to announce what would be fresh rates to announce what would be fresh rates the to announce what would be fresh rates. the question is whether those things rates. the question is whether those things would add up to a strategy that he things would add up to a strategy that he can actually deliver, as you say, ....

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BBCNEWS The Context with Christian Fraser June 4, 2024 21:39:00

But you need long term strategy and investment. but you need long-term strategy and investment. ., , ., , but you need long-term strategy and investment- investment. long-term strategy and investment. long-term strategy and investment and investment. long-term strategy and investment and much investment. long-term strategy and investment and much to investment. long-term strategy and investment and much to what - investment. long-term strategy and investment and much to what we - investment. long-term strategy and i investment and much to what we have ust investment and much to what we have just said investment and much to what we have just said we investment and much to what we have just said we need investment and much to what we have just said we need to investment and much to what we have just said we need to find investment and much to what we have just said we need to find the just said we need to find the workforce. childcare - just said we need to find the wo ....

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BBCNEWS The Context with Christian Fraser June 4, 2024 21:37:00

Gone. so is have to play safe he has to play gone. so is have to play safe he has to play safe- gone. so is have to play safe he has to play safe. but gone. so is have to play safe he has to play safe. but there - gone. so is have to play safe he has to play safe. but there are - has to play safe. but there are supply side reforms that they hope will encourage people back into work. childcare first among them. we learnt this past week, that the uk is one of the most expensive countries in the world for childcare third only to new zealand and switzerland. and so the government will offer 30 hours of free childcare for every child, from the age of nine months, where all adults in the household work at least 16 hours. the trouble is that he is having to introduce it in stages because there has been such chronic underperformance in terms of childcare in this country. that nurseries don t have places, not enough nurseries and we will only get 15 hours of free childcare in 2a ....

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