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Paid for by spending cuts and tax rises elsewhere . And with a general election imminent, how will the Budget Go Down Beyond Westminster . Im in Newcastle Hearing from local businesses and Community Leaders about what they want from the budget and getting their reaction to what the chancellor announces. Yes, its budget mike day. The day has finally arrived. One of the few remaining set pieces were the government gets the opportunity to set out its agenda before the general election. Whenever that happens. We will talk about speculation on a date later. It will be important to hear how the chancellor, jeremy hunt, presents the decisions that he makes today, because we have heard quite a lot about what is going to be in this budget. Lets give you a flavour of that on some of the front pages. The ti ....
Before the next general election. So there is a lot riding on this and after the chancellor delivers his statement, we will hear from the labour party, they will deliver a response in the House Of Commons to that budget as well. Joining me now is our political correspondence who is our political correspondence who is at Downing Street as well. We saw the chancellor depart from number 11 in the last 20 minutes or so, that budget firmly inside that red box. I was saying earlier, i did a story years later about those red boxes and how they are made, a secretive process, and they are very heavy, about three kilograms, so it takes a muscle to hold that up we knew some of what is in the box, we knew about the 2p reduction in National Insurance but what other rumours swirling around westminster . It is interestin swirling ....
But we know we can make things work better. That is the way well open ultimately get the rising Living Standards we all want to see. You talk about wanting to get that revenue in and increase spending on Public Services, but your u turn, if we can call it that, or this this moment of that green Prosperity Plan just sort of indicates the challenges that all Political Parties face at the moment. Many things like the green Prosperity Plan just cant be costed at the moment. ,. , moment. After the disaster of the liz truss minibudget moment. After the disaster of the liz truss minibudget and moment. After the disaster of the liz truss minibudget and the moment. After the disaster of the j liz truss minibudg ....
of which are linked to inflation. let s put this into perspective because the uk s national debt is at record levels. it owes £2.69 trillion. that is almost the size of the uk economy the so called debt to gdp ratio is around 97.7%. that is a useful guide to how affordable the debt is for a country. the chancellor has pledged to get that ratio down. the uk s far better off than some of its neighbours though italy s debt to gdp is around 140%. but if we look at germany s that s only around 65%. let s get more on this from our chief economics correspondent, dharshini david. she s in the bbc business newsroom here in london. hi. first off, what is behind that figure? hi. first off, what is behind that fiuure? , ., ., ., ., ., hi. first off, what is behind that fiuure? , ., ., ., ., y figure? just one month out of a 12 month financial figure? just one month out of a 12 month financial year figure? just one month out of a 12 month financial year but - figure? ju ....