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India's first budget at 5 pm: The air of secrecy, a scandal and a resignation in UK

Who presented the first budget for independent India? And why was it done at 5 pm? And why was there an air of secrecy around the process? The first budget also led to a scandal and a British politician’s resignation.

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Yes, the cost-of-living crisis is bad – but our grandparents had it far worse

Electricity and food were in scant supply, and a TV was an unimaginable novelty, but most people simply knuckled down and muddled through

Leicester , United-kingdom , Isleworth , Hounslow , Wembley , Brent , London , City-of , Zimbabwe , Britain , Southern-rhodesia , British

Herald View: Swinney's budget was bold but voters need results

WAS John Swinney’s draft 2023-24 Scottish Budget, unveiled on Thursday, a new sign of realism on the part of the Scottish Government?

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BBC News

stimulus the economy and increase urowth. . ~' , . stimulus the economy and increase urowth. . , . . . growth. thank you very much, richard davies. growth. thank you very much, richard davies- let's — growth. thank you very much, richard davies- let's go _ growth. thank you very much, richard davies. let's go back— growth. thank you very much, richard davies. let's go back to _ growth. thank you very much, richard davies. let's go back to gloucester. i my colleague annita mcveigh in is gloucester. joanna, thank you very much. throughout the day, we are looking ahead to the autumn statement and onceit ahead to the autumn statement and once it happens, we will get a reaction from people what they have heard from the chancellor and will it help them through this cost of living crisis? the chancellor has want of tough decisions that the government is having to make of spending cuts and tax rises —— has warned of. let me tell you about where i am, gloucester docksjust behind me, you can see an area which has had a huge amount of regeneration and investment over the last 20 years. you have a national waterways museum, some of these lovely old victorian warehouses converted into flats, as well. just as we around, gloucester quays, this is a retail outlet with high street stores, designer outlets and once it was built, it attracted a cinema, lots of restaurants, a place for

Gloucester , Let-s-growth , Economy , Autumn-statement , Richard-davies , Annita-mcveigh , Urowth , Let-s-go , Joanna , Let-s-go-back-growth , People , Hugh-dalton

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also in sunderland, as we get the reaction from westminster and take the conversation outside the political bubble as well and find out what it means for you. throughout the day we will talk to a range of people from the city of gloucester getting their reaction to what the chancellor has to say, what are they looking for, will they hear it from the chancellor this morning, what it means for their futures. joanna, back to you. almost everyone in society will be affected, from the lowest earner, to the highest paid. so, let's take a look at the measures we are expecting to be announced. the government plans to save around £30 billion through spending cuts, and raise £24 billion in tax rises, plugging a financial black hole of £54 billion. that will involve lowering the threshold the highest earners start paying the top rate of tax to £125,000 from £150,000. and there will be spending squeezes

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few weeks ago. thank you very much. a testing time, very important time, | a testing time, very important time, for the prime minister and chancellor in terms of what they announced today. i'm joined by richard davies, professor of public understanding of economics at bristol university & director of the economics observatory. let's talk a bit more about the economics of it. it describes itself as a project that bridges the gap between academic research, government policy, and the general public. welcome. what, in your view, is the balancing act for the chancellor today? the is the balancing act for the chancellor today?- is the balancing act for the chancellor toda ? , , ., chancellor today? the big question for me is timing. _ chancellor today? the big question for me is timing. what _ chancellor today? the big question for me is timing. what we - chancellor today? the big question for me is timing. what we will - chancellor today? the big question for me is timing. what we will get | for me is timing. what we will get todayis for me is timing. what we will get today is a five year plan. we know that the chancellor has interpreted his challenge, some will debate this, of course, as balancing the books. and saving something like it or explaining something like 50 billion. we don't fully know. we got a forecast from the obr, that is good, it is independent. that looks likely to be very difficult to meet. what i mean by timing is when does he put in place the spending cuts? it looks likely from the briefing that it will actually come towards the back end of the five year

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BBC News

leave but are unable to because of crisis elsewhere in terms of where to get them to. —— waits. is the health service effectively broken right now? the health service effectively broken riaht now? . , . , right now? the health service is under extreme _ right now? the health service is under extreme pressure - right now? the health service is under extreme pressure and - right now? the health service is under extreme pressure and wej right now? the health service is - under extreme pressure and we are seeing that under all parts of the system. it is also important to think the nhs relies on lots of other parts of the public service, is particularly delayed discharges, people in hospital beds who could be elsewhere, that's because there is quite often not enough social care in the community to look after people. one of the things we will look at today as well as whether the chancellor will support the social care sector that has 165,000 vacancies at the moment, so really difficult for it to provide enough good quality care for the people who need it. we will look at how all of the different features of today's announcement really support and integrated health care system and to be able to deliver the right amount of activity for their population whose health and care needs need to be met. ida whose health and care needs need to be met. ., ., . , be met. no government ever really wants to look _ be met. no government ever really wants to look at _ be met. no government ever really wants to look at tackling _

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pensions in line with inflation. but beyond that, there is absolutely no denying that households are going to be really, really squeezed. so what can be done to mitigate that and try to lessen the impact of the recession?— to lessen the impact of the recession? ., , , recession? your viewers will be feelin: recession? your viewers will be feeling that _ recession? your viewers will be feeling that impact, _ recession? your viewers will be j feeling that impact, particularly from inflation. a lot of that is coming from president putin, frankly, who has weaponised cost of energy against the uk economy and other western economies. we need to make sure that the most vulnerable constituents are protected against that rise in their energy bills. they have been a lot of things announced so far, so they should be £650 for those on benefits, £400 off everyone's bill, money off council tax and the overall cap saving every household £700. there has been lots of support so far. i wouldn't expect the chancellor to want to continue at that level of support once we get to the spring and energy prices, i hope, will be somewhat lower. but i do think he will continue to support

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the most vulnerable households. one of the things we want to see on our committee is the things that will unlock growth in the economy in the medium term, steps that improve productivity, steps that improve investment in productive parts of our national infrastructure. all our national infrastructure. that's all bein: our national infrastructure. that's all being cut. _ our national infrastructure. that's all being cut, isn't _ our national infrastructure. that's all being cut, isn't it? _ our national infrastructure. that's all being cut, isn't it? it- our national infrastructure. that's all being cut, isn't it? it is- our national infrastructure. that's all being cut, isn't it? it is down | all being cut, isn't it? it is down to the chancellor— all being cut, isn't it? it is down to the chancellor to _ all being cut, isn't it? it is down to the chancellor to announce i all being cut, isn't it? it is down i to the chancellor to announce what he's going to do. one of the things our committee wants to see is where there is investment that will increase the productive capacity of the uk economy and we wouldn't want to see that reduced. just the uk economy and we wouldn't want to see that reduced.— to see that reduced. just a word on the office for— because you said you will question their assumptions when you speak to them. that's obviously coming after what we are going to hear today. how much is what is in the office for at responsibility, how much is the fact that there are fears around how the markets respond? how much are those factors central stage, and therefore how much room for manoeuvre does the chancellor really have? misfia how much room for manoeuvre does the chancellor really have?— chancellor really have? wissa what

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