Podcasts about budget responsibility

Labour was elected to deliver ‘change' but Starmer, Reeves and Morgan McSweeney have been cautious and vague about their ambition to move on from the recent past. Instead Labour communications use the term ‘reform' as if it were a policy in itself. Now Labour faces the Reform Party, the Greens, the SNP and Lib Dems, all pitching bolder versions of change. Yet in government Labour is trapped by fiscal rules, the power of the Office for Budget Responsibility and a lack of clarity and coherence at the top. Can Starmer become a clear-sighted political teacher? • Rock'n'Roll Politics is live at Kings Place this Thursday, May 8th. Tickets available here. • Subscribe to Patreon for live events, bonus podcasts and to get the regular podcast a day early and ad free.  Written and presented by Steve Richards. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Slovakia, dubbed Europe's Detroit, might be harshly hit by US tariffs. Economy Minister Denisa Saková has warned that Slovakia would definitely be “among the top three” most affected countries in the EU. Martin Šuster, member of the Council for Budget Responsibility, Alexander Matušek, President of the Association of the Automotive Industry of the Slovak Republic, and Roman Karlubík, President of the Association of the Chemical and Pharmaceutical Industry of the Slovak Republic, spoke about the possible impact on Slovakia. Culture tips for foreigners living in or visiting Slovakia invite to music, visual art and traditional Easter crafts.

Slovakia, dubbed Europe's Detroit, might be harshly hit by US tariffs. Economy Minister Denisa Saková has warned that Slovakia would definitely be “among the top three” most affected countries in the EU. Martin Šuster, member of the Council for Budget Responsibility, Alexander Matušek, President of the Association of the Automotive Industry of the Slovak Republic, and Roman Karlubík, President of the Association of the Chemical and Pharmaceutical Industry of the Slovak Republic, spoke about the possible impact on Slovakia. Culture tips for foreigners living in or visiting Slovakia invite to music, visual art and traditional Easter crafts.

Steph and Robert speak to Richard Hughes, head of the Office for Budget Responsibility, who has run scenarios on what will happen to the economy as Donald Trump imposes tariffs and the world responds. He also discusses whether the OBR has too much influence over government and stultifies growth, and how Rachel Reeves' fiscal “headroom” may be wiped out again very shortly. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Rachel Reeves is back to where she started after the Spring Statement, with her £9.9billion of budget headroom restored but at what cost. The Chancellor was true to her word and didn't turn this week's economic update into a second Budget, with no tax changes coming in. But a wave of spending cuts was announced, along with growth forecasts going both down and up. We also got the Office for Budget Responsibility's update on what Reeves' Autumn Budget tax rises will cost us, a threat to cash Isas and no reprieve for home buyers on stamp duty. On this podcast episode, Georgie Frost, Lee Boyce and Simon Lambert dive into the Spring Statement to explain why it happened, what it means and tackle the question of whether taxes are going to have to rise again in autumn. They look at the very important assumption being made by the OBR, which if it turns out to be wrong could mean there is a £48billion black hole in the sums. And is the entire thing a charade anyway and damaging to our future prospects? Simon explains why he thinks so. Finally, campaigners like Gary Stevenson claim this could all be solved with a wealth tax - is that where we will eventually end up?

In this episode of V-FM Pensions, hosts Darren and Nico pick up on some of the key topics from the last few episodes. Our one-one 'specials' have often been based around responses to consultations, but, in an evolution of the podcast format, once a month we're going to explore in more depth some of the issues raised on the regular podcast. So tune in and hear about the Spring Statement and the role of the Office for Budget Responsibility; systemic stewardship and fiduciary responsibility, including the role of pension funds in addressing society's big issues; and systems thinking in financial services. And we also discuss the recent acquisition of Barnett Waddingham by Howdens.

Today, Chancellor Rachel Reeves announced a set of measures aimed at restoring her fiscal headroom.Adam and Chris are joined by Faisal Islam and Dharshini David to unpack everything the Chancellor revealed today, including cuts to welfare spending. Plus we dive into the Office for Budget Responsibility's forecast - and their many, many, charts. You can now listen to Newscast on a smart speaker. If you want to listen, just say "Ask BBC Sounds to play Newscast”. It works on most smart speakers.You can join our Newscast online community here: https://discord.gg/m3YPUGv9New episodes released every day. If you're in the UK, for more News and Current Affairs podcasts from the BBC, listen on BBC Sounds: https://bit.ly/3ENLcS1Newscast brings you daily analysis of the latest political news stories from the BBC. It was presented by Adam Fleming. It was made by Miranda Slade with Anna Harris, Shiler Mahmoudi and Julia Webster. The technical producer was Rohan Madison. The assistant editor is Chris Gray. The editor is Sam Bonham.

This week's AJ Bell Money & Markets podcast takes a closer look at the key items from Chancellor Rachel Reeves in her Spring Statement. There were big changes to economic and inflation forecasts by the Office for Budget Responsibility. However, the Chancellor insisted her longer-term plans were still intact – namely, to bring public finances under control and drive growth in the economy. Laura Suter, Charlene Young and Dan Coatsworth analyse the major announcements in the Spring Statement and how they will impact your money. They also chat about key areas that were missing from the Spring Statement and whether they might be coming later on – or not at all, given what the Chancellor has just announced. The team talk savings, investments, pensions, ISAs, mortgages and how markets reacted to the news.

Is Rachel Reeves gearing up for a standard Spring Statement — or are we in emergency budget territory? In this episode we dig into what form next week's parliamentary statement might take and why it may be more than just an economic update. We trace the history of the “one fiscal event” a year rule, explore the tough choices facing the Chancellor, and ask whether Parliament still has any real say over tax and spending. Plus, could post-legislative scrutiny finally be coming into its own?___ In this episode, Ruth and Mark cut through the fiscal fog surrounding Rachel Reeves' upcoming Spring Economic Statement — officially billed as a routine forecast update, but with growing signals it could be something much bigger. With whispers of an “emergency budget” and mounting pressure from the Office for Budget Responsibility's (OBR) latest projections, they weigh the procedural factors that will determine whether Reeves will take action now to meet her fiscal rules, or kick the tougher decisions down the road to the autumn Budget and the Comprehensive Spending Review. They also take a step back to explore how we got here. The current approach of having just one major fiscal event per year was introduced in 2016 by then-Chancellor Philip Hammond, aiming to bring predictability and control. But when long-term economic forecasts suggest those all-important fiscal rules are at risk — especially ones that stretch five years into the future — that system starts to show its cracks. They also speak to Professor David Heald, who delivers a sobering assessment of how little control Parliament has over public finances — before spending takes place. He argues that the UK's budget-setting process is executive-dominated and ripe for reform, but political incentives keep the status quo firmly in place. Later, Ruth and Mark highlight an encouraging sign of reform: the growing use of post-legislative scrutiny, with the Football Governance Bill now including a statutory review clause. They reflect on how tools like these could support longer-term thinking in Parliament — if only they were used more systematically.____

In her Budget last Autumn, the Chancellor set out plans to boost public spending and investment by £300 billion, alongside the largest tax increases in over 30 years. She also announced new, binding fiscal rules and left herself £10 billion of headroom against meeting them. But the UK economy – and the world – has changed in the past five months…   To what extent will the UK's poor recent economic performance feed through into the Office for Budget Responsibility's new economic and fiscal outlook, and how it will affect the amount of headroom the Chancellor has? What policies may be required – on tax, welfare and public service spending – to hit the fiscal rules? And how do these policies sit in the wider context of the UK needing to defend itself and its allies, grow its economy, and boost living standards throughout the country?

This week, Ed Balls and George Osborne take on some of the most difficult challenges facing society today. With millions of people of working age not in a job - officially called economically inactive - the pair consider the current costs to society and how to fix them. Columnist for the Times and former MP Matthew Parris asks George directly: Didn't he see this coming with the introduction of personal independence payments? And the Office of Budget Responsibility is meant to be apolitical – but does the government of the day at least have a little sway on its forecast? And considering the size of public spending in the UK, is the Trump Administration's Department of Government Efficiency, referred to as DOGE, even more relevant in this country?Plus, how can psychology play a greater role in politics and policy … You could have been listening to this episode of EMQs early and ad-free! And not only that… join Political Currency's KITCHEN CABINET to enjoy early and ad-free listening, access to live EMQs recordings, and exclusive Political Currency merch.Subscribe now: patreon.com/politicalcurrencyProduction support: Caillin McDaidTechnical Producer: Danny PapeProducer: Rosie Stopher and Miriam Hall Executive Producers: Ellie Clifford Political Currency is a Persephonica Production and is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information. Subscribe now on Patreon Hosted on Acast. See acast.com/privacy for more information.

This week Ed Balls and George Osborne look at what makes a smart, successful opposition party. Is disagreeing with everything the government of the day says the best way to do it? Or are there some judicious, selective compromises to be made? And who are the best examples of politicians who've made some well played, cross party agreements? Amid global tumult, they consider the question: is democracy dead? What will happen if President Donald Trump's policies are a roaring success? And the pair remember being interviewed by Andrew Neil. Was it an opportunity to relish, or one to avoid? Plus, former Tory adviser Malcolm Gooderham phones in to ask: can the Office of Budget Responsibility keep to their growth forecast of 2 percent? And what would the fallout be if there were to be a downgrade?You could have been listening to this episode of EMQs early and ad-free! And not only that… join Political Currency's KITCHEN CABINET to enjoy early and ad-free listening, access to live EMQs recordings, and exclusive Political Currency merch.Subscribe now: patreon.com/politicalcurrencyProduction support: Caillin McDaidTechnical Producer: Danny PapeProducer: Rosie Stopher and Miriam Hall Executive Producers: Ellie Clifford Political Currency is a Persephonica Production and is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information. Subscribe now on Patreon Hosted on Acast. See acast.com/privacy for more information.

Regno Unito, la situazione a 5 anni da BrexitCinque anni fa veniva sancita l'uscita del Regno Unito dall'Unione Europea. Il 31 gennaio 2020, alle ore 23.00 (ora di Londra), mezzanotte presso la sede dell'Ue a Bruxelles, il Regno Unito lasciava ufficialmente il blocco dopo 47 anni di appartenenza che avevano portato la libera circolazione e il libero scambio tra il Regno Unito e altri 27 Paesi europei. Per i sostenitori della Brexit, il Regno Unito era ora una nazione sovrana responsabile del proprio destino. Per gli oppositori, era un Paese isolato e limitato. Cinque anni dopo, le persone e le imprese stanno ancora lottando con le scosse di assestamento economiche, sociali e culturali. L'Office for Budget Responsibility del governo prevede che le esportazioni e le importazioni del Regno Unito saranno entrambe inferiori di circa il 15% nel lungo periodo rispetto a quelle che si sarebbero avute se il Regno Unito fosse rimasto nell'Ue, e la produttività economica sarà inferiore del 4% rispetto a quella che sarebbe stata altrimenti. Commentiamo insieme a Giorgia Scaturro, collaboratrice di Radio24 da Londra.

The Institute for Fiscal Studies  - or IFS - has become the nation's go to institution for judgements about tax, spending and borrowing. And the Office for Budget Responsibility – the OBR – is the independent official watchdog that assess the viability and sustainability of the government's economic plans. Our guest today, Sir Robert Chote has run both organisations and knows better than anyone on the planet how they both work. He now heads the UK Statistics Authority.  Season 7 of the We Society Podcast from the Academy of Social Sciences continues to tackle the big questions through a social science lens. Throughout this series, you'll be hearing some of the best ideas to shape the way we live. Hosted by journalist and Academy President Will Hutton, we interview some of Britain's top social scientists and public figures from across the globe to explore their evidence-led solutions to society's most pressing problems. Don't want to miss an episode? Follow the We Society on your favourite podcast platform and you can email us on wesociety@acss.org.uk and tell us who we should be speaking to or follow us on X https://twitter.com/AcadSocSciences This is the first episode of Season 7, and there will be episodes released every week so be sure to subscribe and rate the podcast. Find out more about the Academy of Social Sciences here: https://AcSS.org.uk

Inflation's spell below the Bank of England's 2 per cent target has been brief and the latest CPI figure came in at a higher than expected 2.3 per cent. Meanwhile, Bank of England boss Andrew Bailey has joined the Office of Budget Responsibility in stating that the recent Autumn Budget is likely to lift inflation, as employers face higher costs from national insurance and the rising minimum wage. On the other side of the Atlantic, President-elect Donald Trump is seen as bringing his own inflationary pressure, which could spread from the US to the rest of the world. So what does this mean for interest rates? Are cuts about to stall - and what happens next for borrowers and savers? On this week's podcast, Georgie Frost, Helen Crane and Simon Lambert, talk inflation, rates, mortgages and savings. The team also look at whether those needing to get a mortgage now should fix for two or five years. Plus, why the row over inheritance tax and farmers is symptomatic of Britain's bad tax system - and Simon's plan for a trade-off on IHT-free land. Crane goes on the case of money refunded ffor a faulty coffee machine much later to an empty gift voucher that had understandably gone in the bin. And finally, the listener question of the week is up and running, and it's one on sticking it to the man and having enough money to quit work for good.

As President-Elect Trump's new administration takes shape, all eyes are on fiscal policy that may follow. Our Global Chief Economist Seth Carpenter uses the United Kingdom's recent election as a guide for how markets could react to a policy shift in the US. ----- Transcript -----Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist, and today I'll be talking about the US election and fiscal policy and what lessons we might be able to draw from the fiscal experience in the UK. It's Wednesday, November 13th at 10am in New York. In a lot of our recent research, the US election has figured prominently, and we highlighted three key policy dimensions that the US administration is going to have to confront. Immigration, tariffs, and, of course, fiscal policy. We're going to keep elections as a theme, but it might be useful to draw some comparisons to the UK to see what lessons we might have for the US. We think the experience in the UK, which recently proposed a new fiscal budget months after an election, is relevant mostly because of the time between taking power and the budget being presented. While markets are in the business of anticipating changes, the process of actually creating policy is a lot more cumbersome and time consuming. In this week, where we've seen lots of expectations already being priced in, it's probably useful to try to think about that process of forming policy in the UK and see what lessons it implies for the US. Back in May, the UK elected a new government, changing party control after 14 years. A key moment for markets came just over a week ago, though, when the new government's presentation of their budget for the next fiscal year came up. Now, we should remember, the trust government had faced a market test when the announcement of their budget proposals led to a big sell off in interest rates. As a result, markets were keenly attuned this time to the new labor government's budget, particularly because the US fiscal position requires a primary balance to stabilize the debt to GDP ratio. And in particular, when their debt costs rise, when interest rates go up, the primary balances that are needed keep increasing if they want to keep the debt stable. Now, the new labor government proposed to fill a funding gap through tax increases while simultaneously increasing Government investment spending. To manage some of the communication challenges here, many of these proposals, especially about the tax increases, they were made public in advance. The likelihood of additional government spending was also well known, and UK rates had moved higher for months leading up to the formal presentation of the budget. But, markets reacted on the day of the budget reveal, despite all of that prelude. The degree of front loading of the investment spending was seen as a surprise in markets, as was the Office of Budget Responsibility's concurrent assessment that the policy would lead to higher growth, higher inflation, and as a result, a need for higher interest rates. Now, conversations with clients have brought up the similarities of the US and the UK. US interest costs are steadily rising as the cost of the debt reprices to the current yield curve. And, over time, the ratio of interest expense on the debt relative to, say, the GDP of the country, well, that's going to continue to rise as well, and it will very soon eclipse its previous all time high. So, fiscal consolidation would be needed in the United States if we really want to see a stabilized debt to GDP ratio. Markets will need to assess the credibility of fiscal policy and the scrutiny will increase the higher the interest burden gets. The budget process for the US is much less clear cut than that in the UK and deliberations and debates will likely happen over most of 2025. And there's an additional question of how much revenue tariffs might be able to generate on a sustained basis. History suggests that trade diversion tends to limit those revenue gains. All of these facts taken together suggest that the outlook for US fiscal policy will continue to evolve for quite some time. Well, thanks for listening, and if you enjoy this show, please leave us a review wherever you listen to podcasts and share thoughts on the market with a friend or a colleague today.

Want to understand how to become as tax efficient as possible?Connect with Johnny here: https://www.dentistswhoinvest.com/reducing-tax-bill/———————————————————————You can download your FREE report on how you can avoid financial mistakes as a dentist using the link just here >>>  dentistswhoinvest.com/podcastreport———————————————————————Delve into the financial landscape shaping dental practices with Johnny Minford as he breaks down the latest budget from the Chancellor. This episode offers a critical look at how fiscal policies, particularly those influenced by political motives, may create unforeseen challenges for principal dentists. We examine the economic implications on the profession and the role of bodies like the Office of Budget Responsibility in guiding future strategies, providing a comprehensive view of the financial environment dentists face today.Johnny explains the nuances of recent national insurance changes and how they uniquely impact dental practices and GPs who often can't leverage exemptions due to private partnership structures. We discuss alternative ways to address the financial burden these policies place on employers and the importance of strategic financial planning to keep practices sustainable amidst tax changes.Explore how these adjustments influence dental practice valuations and highlight the importance of pension planning and varied financial strategies for dentists. The conversation touches on potential capital gains tax shifts and how they might create urgency in the market, ultimately affecting practice valuation. This episode underscores the need for knowledgeable financial advisors to support dentists in making informed decisions and securing their financial future in an evolving tax landscape.———————————————————————Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional.Send us a text

Former chancellor Jeremy Hunt joins Kamal and Gordon Rayner in the Daily T studio for an exclusive sit-down interview.He calls this week's upcoming Budget as being the “most damaging since the 1970s”, accuses the Office for Budget Responsibility of doing political favours, and describes Rachel Reeves' talk of a £22 billion black hole as ‘fiction.'Kamal and Gordon also ask him what it's like to deliver a Budget as chancellor, as well as who he's voted for in the Conservative leadership contest.We want to hear from you! Email us at TheDailyT@telegraph.co.uk or find us on X, Instagram and TikTok @dailytpodcastSenior Producer: John CadiganExecutive Producer: Louisa WellsAdditional production from James ShieldPlanning Editor: Venetia RaineyStudio Operator: Meghan SearleVideo Editor: Luke GoodsallSocial Media Producer: Rachel DuffyOriginal music by Goss Studio Hosted on Acast. See acast.com/privacy for more information.

Gareth Mitchell sits down with David Miles, Professor of Financial Economics at the Business School, about his research on ageing populations and declining birth rates - are they really that bad? Professor David Miles is a member of the Budget Responsibility Committee of the Office for Budget Responsibility. Between May 2009 and September 2015, he was a member of the Monetary Policy Committee at the Bank of England. His current research focuses on policy issues connected with financial stability, the housing market and the setting of monetary policy. 

We've been decrying the fact that the UK has crippled its own economy by imposing its own made up and entirely useless fiscal rules - in other words the rules on what it can and cannot borrow, and for what - for a long time. But the Office of Budget Responsibility (itself also pointless) has published a report suggesting these should change. Will they? Why might this government finally change them? Will this definitely be good? Tune in LIVE to find out! Enjoyed this? Please do consider supporting #Railnatter at https://patreon.com/garethdennis or throw loose change at me via https://paypal.me/garethdennis. Merch at https://garethdennis.co.uk/merch. Join in the discussion at https://garethdennis.co.uk/discord.

When it comes to governing our economy, estimates rule the day. We want to know what effect a policy might have on the government's budget, on economic growth, on employment…in the next 1 year, 5 years, 10 years…you get the idea. If you want to make (or critique) public policy, you better have numbers to back it up. To get those types of estimates, economists and politicians often rely on institutions like the Office for Budget Responsibility in the UK, or the Congressional Budget Office in the United States. As a result, their estimates and fiscal projections form crucial data points in our modern politics and policymaking. We like to think that these estimates and projections (not to mention, the people who make them) come from somewhere outside of our partisan politics. That while our values might be debatable, the numbers, at least, aren't.But, as Mark Blyth's guest on this episode explains: that idea is a fantasy, and to the extent it obscures the values and politics that are baked into organizations like the Office of Budget Responsibility, it's a dangerous one. On this episode, Mark Blyth talks with Ben Clift, author of “The Office for Budget Responsibility and the Politics of Technocratic Economic Governance.” In it, he pulls back the curtain on Britain's Office for Budget Responsibility, and reveals the hidden processes and ideologies that shape the estimates and projections that come out of it. In doing so, he shows how the OBR – and other institutions like it – are much more political than they appear. Learn more about and purchase “The Office for Budget Responsibility and the Politics of Technocratic Economic Governance”Learn more about the Watson Institute's other podcastsTranscript coming soon to our website

We're back from our Easter break, and since we were last on the airwaves a book has been published by a certain former UK Prime Minister arguing – among other things – that elected politicians are unduly constrained by unelected technocrats, and that ministers should be freed from such fetters in order to enable them better to represent the will of the people. Not least, the book argues for scrapping the UK's Office for Budget Responsibility, which currently offers advice on the likely implications of different fiscal policy decisions.Well Liz Truss is – for better or worse – not our guest on today's podcast. But the person who is has thought a great deal about how – and by whom – fiscal rules should be set. That person is Stefano Merlo, Associate Lecturer in the Politics of Economic Policy here in the UCL Department of Political Science. Stefano is also currently finishing off a PhD in Political Economy and Political Theory at John Stuart Mill College in the Free University of Amsterdam. Mentioned in this episode:Stefano Merlo. 'A Republican Assessment of Independent Fiscal Institutions.' Journal of PoliticsStefano Merlo. 'A republican fiscal constitution for the EMU.' Critical Review of International Social and Political Philosophy UCL's Department of Political Science and School of Public Policy offers a uniquely stimulating environment for the study of all fields of politics, including international relations, political theory, human rights, public policy-making and administration. The Department is recognised for its world-class research and policy impact, ranking among the top departments in the UK on both the 2021 Research Excellence Framework and the latest Guardian rankings.

The Battle of BrusselsWith co-pilot Pearson making a triumphant return to the rocket this week there's much madness to discuss including the Cass report, what the Office of Budget Responsibility is really about and some drama from Brussels…Joining your co-pilots to share what really happened at the explosive National Conservative Conference in Brussels is MP Miriam Cates, who explains why the events that unfolded were so chilling for our freedom of speech.Allison also reveals some exclusive extracts from her recent interview with former Liz Truss and Liam explains why the claims that the former PM ‘crashed the economy' are simply a myth.Also hopping aboard to discuss the worrying state of Iranian relations to the West is UK-Iranian Journalist Daniel Kazan Rad.Read more from Liam: https://www.telegraph.co.uk/authors/liam-halligan/ |Read more from Allison: https://www.telegraph.co.uk/authors/a/ak-ao/allison-pearson/ |Read Allison's interview with Liz Truss: https://www.telegraph.co.uk/politics/2024/04/15/liz-truss-interview-ten-years-to-save-the-west/ Need help subscribing or reviewing? Learn more about podcasts here: https://www.telegraph.co.uk/radio/podcasts/podcast-can-find-best-ones-listen/ |Email: planetnormal@telegraph.co.uk |For 30 days' free access to The Telegraph: https://www.telegraph.co.uk/normal | Hosted on Acast. See acast.com/privacy for more information.

The Chancellor has delivered his Spring Budget for 2024 announcing a 2p National Insurance cut for millions of working people under the age of 66. Jeremy Hunt says this will save the average worker £450 a year.But, analysis by the Office for Budget Responsibility says maintaining a freeze on the personal tax allowance - the amount earned before tax is paid - will mean 3.7 million extra people paying income tax by 2028, when the freeze comes to an end. So will you be better or worse off? We'll be looking at the numbers.What would you do if you got a letter through your door asking for almost £2000 owed by a complete stranger? That's what happened to one of our listeners who spent weeks trying to sort it out with a debt recovery company. We hear from a senior MP calling for tougher regulation.And an investigation into car finance agreements taken out before February 2021 could eventually lead to compensation for millions of motorists. Discretionary commission agreements meant some lenders allowed car dealers to adjust interest rates on finance deals. The Finance and Leasing Association told us: "In practice, having discretion to move the interest rate often meant that dealers lowered it to be more competitive."Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Sarah Rogers (First broadcast 12pm Saturday 9th March 2024)

Rupert Murdoch's News Corp and the owners of the Daily Mail have held talks about a potential joint bid for the Telegraph with UAE-backed investment fund Redbird IMI, people familiar with the matter have told Bloomberg. Our global business editor Jamie Nimmo bring us details of the exclusive reporting, and tells us why the media deal is getting so much attention in Westminster. Also today: the head of fiscal watchdog the Office for Budget Responsibility faces questions from MPs over its latest forecasts. Our senior economics reporter Philip Aldrick joins us to discuss. Hosted by Caroline Hepker and Stephen Carroll.See omnystudio.com/listener for privacy information.

The Chancellor has revealed his Budget but the rocket of right-thinking has spotted a shadowy figure on the horizon heading towards Mr Hunt - the Office for Budget Responsibility.Strapping into the rocket to help navigate the nuances is Helen Thomas from Blonde Money, a former advisor to then-Chancellor George Osborne. Helen thinks that the ghost of ignoring the OBR in the now infamous Autumn Budget of 2021 is haunting the current government, and making them over cautious.Liam thinks the OBR is at loggerheads with the Treasury as the Chancellor wanted to give a big cut to grab headlines but he had to compromise with a cheaper option.And Co-Pilot Pearson, aka Velma, also has some concerns about these spooky shenanigans - namely that the government has missed the mark by not addressing first time buyers and social mobility.Plus, as ever, we delve into the bulging PN mailbag.Read more from Liam: https://www.telegraph.co.uk/authors/liam-halligan/ |Read more from Allison: https://www.telegraph.co.uk/authors/a/ak-ao/allison-pearson/ |Read Allison: 'Stop being scared of Islamophobia. Start worrying about Anglophobia' https://www.telegraph.co.uk/columnists/2024/03/05/the-government-new-extremism-laws-needs-engage-muslim-women/Need help subscribing or reviewing? Learn more about podcasts here: https://www.telegraph.co.uk/radio/podcasts/podcast-can-find-best-ones-listen/ |Email: planetnormal@telegraph.co.uk |For 30 days' free access to The Telegraph: https://www.telegraph.co.uk/normal | Hosted on Acast. See acast.com/privacy for more information.

Jeremy Hunt said the government would cut National Insurance by 2 per cent, would abolish the non-dom tax status and would raise the threshold for child benefits in his Budget today. To discuss the new measures, Katy Balls speaks to Kate Andrews and David Miles, from the Office for Budget Responsibility.

On this week's Macrodose, James Meadway breaks down chocflation - why Easter Egg prices are so high (2:07), how the world is becoming uninsurable as climate change meets capitalism (8.40) and a listener question - how do the Office for Budget Responsibility make their economic forecasts (15:02)? Find the full MACRODOSE READING LIST here: uk.bookshop.org/shop/macrodosepod - for each book you buy from the list Macrodose gets 10% of what you pay, so for every book you buy, you'll be supporting our independent, climate-focused economic journalism. Sign up to our newsletter The Fix: mailchi.mp/45d9275470d6/macrodose A massive thank you to all of our existing Patreon subscribers, your support keeps the show running and we are very grateful. If you have the means and enjoy our work, head over to patreon.com/Macrodose and subscribe today. SOCIALS:⁠⁠⁠⁠ linktr.ee/macrodosepodcast⁠⁠⁠⁠ We want to hear from you! Leave a comment or get in touch at ⁠⁠macrodose@planetbproductions.co.uk⁠⁠ For more about the work we do at Planet B Productions, go to ⁠⁠⁠planetbproductions.co.uk⁠

National Insurance will be cut for millions workers from today. It'll be cut from 12% to 10% - the lowest main rate for more than twenty years. The government says this cut will save an employee on average earnings around £450 a year. However, some experts including the Office for Budget Responsibility say that gain is far less than the cost of freezing personal tax allowances from 2021 while wages rose. What will it mean for you?A new set of regulations designed to help victims of fraud should see up to 90% of them get the money stolen from them refunded by their banks. That's according to Chris Hemsley, who runs the Payment Systems Regulator. He says he hopes the change will encourage the industry to do even more to stop fraud from happening in the first place. HM Revenue and Customs says it will only take what it calls 'priority calls' on its Self Assessment helpline ahead of the 31st January tax deadline - sending everyone else to its online services. How will that work in practice?And what parents of small children need to do to apply for the new 15 hours of free childcare.Presenter: Paul Lewis Reporters: Dan Whitworth, Sandra Hardial and Eimear Devlin Editor: Jess Quayle (First broadcast 12pm Saturday 6th January 2024)

George Parker, political editor of the Financial Times, assesses the latest developments at Westminster as the Prime Minister authorises air strikes against Houthi rebels in the Red Sea and pays a surprise trip to Ukraine. George speaks to former UK ambassador to Washington and former national security adviser, Lord Darroch, about the military action and the global security situation. With the Post Office scandal taking centre stage in Parliament this week George brings together Conservative MP and former postal services minister, Paul Scully, and SNP MP and chair of the Post Office All Party Parliamentary Group, Marion Fellows. Conservative MP Sir Jacob Rees-Mogg and Labour's Dame Angela Eagle debate the role of the Office for Budget Responsibility in shaping economic policy. And, as Rishi Sunak pitches himself as the continuity candidate ahead of a general election, George speaks to John Major's former political secretary, Lord Hill, and Keir Starmer's former director of policy, Claire Ainsley, about whether the 1992 election provides any lessons for the main parties.

Governments often tackle similar issues again and again – from day-to-day matters to major challenges such as natural disasters, public health threats or global financial or security crises. So it is vital that governments learn from experience about what works – and what doesn't – to improve the functioning of government. But extensive churn in ministers – and the civil servants who support them – means that institutional memory can be lost. In the mid-2010s, the Treasury was grappling with how to maintain and improve public service performance as budgets were squeezed. Senior officials in the department identified the need for a review of historic evidence to ensure they understood what the experience of previous decades showed about how to manage public spending effectively The Nuffield Foundation funded a project involving the Institute of Fiscal Studies (Paul Johnson, Rowena Crawford and Ben Zaranko) and a team based at the Blavatnik School of Government in Oxford (Christopher Hood, Iain McLean, Maia King and Barbara Piotrowska). The task of the IFS team was to assess what happened to UK spending over 1993–2015 from the available statistics, while the Blavatnik team explored the more qualitative aspects of public spending control over the same period from a mixture of published sources, interviews and archival material – now published in book form (The Way the Money Goes: The Fiscal Constitution and Public Spending in the UK). Drawing on that work, this event will reflect on the value – but also the challenges – of historical research on government and explore what can be learnt from past experience in the planning and control of public spending. To discuss these questions and more, we were joined by a panel of experts: Sir Charles Bean, Professor of Economics at the London School of Economics and former member of the Budget Responsibility Committee at the Office for Budget Responsibility (2017–21) Mark Franks, Director of Welfare at the Nuffield Foundation Catherine Haddon, Programme Director at the Institute for Government Professor Christopher Hood, Visiting Professor at the Blavatnik School of Government, Oxford University Conrad Smewing, Director General, Public Spending at HM Treasury The event was chaired by Dr Gemma Tetlow, Chief Economist at the Institute for Government.

The Autumn Statement was the definition of a mixed bag. There was a National Insurance cut, but the stealth income tax raid continued. The Isa system got an improvement, but the allowance remained frozen. Meanwhile, the triple lock was delivered along with a pension pot-for-life plan but inheritance tax remains firmly uncut at 40 per cent, with all its weird quirks intact. So, was that an Autumn Statement to fire Britain on to growth, as the Chancellor claimed, or a damp squib? On this week's podcast, Georgie Frost, Tanya Jefferies, Helen Crane and Simon Lambert dive into the details to reveal what the Autumn Statement means for you and the economy. From the Office of Budget Responsibility forecasts, to being allowed multiple Isas and the seemingly mad plan of allowing family homes to be easily converted to flats, the team take the measure of Jeremy Hunt's plans. And they look ahead to whether there will be more tax cuts to come in the Budget – and whether Britain's stealth tax and marginal tax trap mess will ever get sorted.

The Chancellor used the Autumn Statement to announce tax cuts for businesses and workers, including a larger-than-expected cut in the rate of National Insurance. The government's improved financial position was overshadowed, however, by the Office for Budget Responsibility cutting its economic growth forecast for next year to 0.7%. We bring you highlights from the speeches by Jeremy Hunt and Rachel Reeves, plus analysis and market reaction from Bloomberg's Sam Unsted. Hosted by Stephen Carroll, Caroline Hepker and Yuan Potts.  See omnystudio.com/listener for privacy information.

Has Brexit damaged UK trade? Was the OBR's prediction correct? In this week's podcast, IEA Director of Public Policy and Communications Matthew Lesh sits down with Trade Economist Catherine McBride. Catherine is also the author of the IEA's latest publication, Has Brexit Really Harmed UK Trade? Countering the Office for Budget Responsibility's claims. To learn more, check out the full paper: https://iea.org.uk/publications/has-brexit-really-harmed-uk-trade-countering-the-office-of-budgetary-responsibilitys-claims/

On the 22nd November, the Chancellor Jeremy Hunt will give his Autumn Statement. He will update MPs on the country's finances and the government's plans for tax and public spending, based on the latest forecasts from the Office for Budget Responsibility.In this episode, we speak to Carl Emmerson, Deputy Director at IFS and Ben Nabarro, Chief UK Economist at Citigroup, about the underlying economic situation facing the Chancellor. Hosted on Acast. See acast.com/privacy for more information.

Technological changes have economic impact. It's not just that technology allows more goods and services to be produced more efficiently and at greater scale. It's also that these changes disrupt previous assumptions about the conduct of human lives, human relationships, and the methods to save money to buy goods and services. A society in which people expect to die around the age of 100, or even older, needs to make different plans than a society in which people expect to die in their 70s.Some politicians, in unguarded moments, have even occasionally expressed a desire for retired people to "hurry up and die", on account of the ballooning costs of pension payments and healthcare costs for the elderly. These politicians worry about the negative consequences of longer lives. In their viewpoint, longer lives would be bad for the economy.But not everyone thinks that way. Indeed, a distinguished professor of economics, from the London Business School, Andrew J Scott, has studied a variety of different future scenarios about the economic consequences of longer lives. He is our guest in this episode.In addition to his role at the London Business School, Andrew is a Research Fellow at the Centre for Economic Policy Research and a consulting scholar at Stanford University's Center on Longevity.His research has been widely published in leading journals in economics and health. His book, "The 100-Year Life", has been published in 15 languages, is an Amazon bestseller and was runner up in both the FT/McKinsey and Japanese Business Book of the Year Awards.Andrew has been an advisor on policy to a range of governments. He is currently on the advisory board of the UK's Office for Budget Responsibility, the Cabinet Office Honours Committee (Science and Technology), co-founder of The Longevity Forum, a member of the National Academy of Medicine's International Commission on Health Longevity, and the WEF council on Healthy Ageing and Longevity.Follow-up reading:https://profandrewjscott.com/https://www.nature.com/articles/s43587-021-00080-0Topics addressed in this episode include:*) Why Andrew wrote the book "The 100-Year Life" (co-authored with Lynda Gratton)*) Shortcomings of the conventional narrative of "the aging society"*) The profound significance of aging being malleable*) Joint research with David Sinclair (Harvard) and Martin Ellison (Oxford): Economic modelling of the future of healthspan and lifespan*) Four different scenarios: Struldbruggs, Dorian Gray, Peter Pan, and Wolverine*) The multi-trillion dollar economic value of everyone in the USA gaining one additional year of life in good health*) The first and second longevity revolutions*) The virtuous circle around aging research*) Options for lives that are significantly longer even than 100 years*) The ill-preparedness of our social structures for extensions in longevity - and, especially, for the attainment of longevity escape velocity*) The possibility of rapid changes in society's expectations*) The three-dimensional longevity dividend*) Developments in Singapore and the UAE*) Two important political initiatives: supporting the return to the workforce of people who are aged over 50, and paying greater attention to national statistics on expected healthspan*) Themes from Andrew's forthcoming new book "Evergreen"*) Why 57 isn't the new 40: it's the new 57*) Making a friend of your future selfMusic: Spike Protein, by Koi Discovery, available under CC0 1.0 Public Domain Declaration

HM Treasury – the UK's economics and finance ministry – played a crucial role in the government's response to the Covid pandemic. While the crisis was fundamentally one of public health, shutting down the country saw the government pay the wages of around a third of the workforce and spend billions supporting businesses. So how successful were the Treasury's policies and how well did it work with the rest of government? What lessons should the Treasury learn from its pandemic response? How can the department be better prepared to handle future crises? And what can be done to improve how the Treasury operates in normal times? This event presented and discussed the findings of a new report from the Institute for Government which examines how the Treasury implemented labour market and business finance support schemes, delivered an unprecedented amount of support to the country at incredible speed and under huge uncertainty, and worked with other government departments during the crisis. To explore these questions, the IfG brought together an expert panel including: Rushanara Ali MP, Member of the Treasury Select Committee Olly Bartrum, Senior Economist at the Institute for Government Prof Sir Charles Bean, former member of the Budget Responsibility Committee at the Office for Budget Responsibility (2017–21) Tracey Brown, Director of Sense about Science Sir Charles Roxburgh, former Second Permanent Secretary of HM Treasury (2016–22) The event was chaired by Dr Gemma Tetlow, Chief Economist at the Institute for Government.

The writer, satirist and broadcaster Armando Iannucci returns to the New Statesman Podcast to co-host our third series of Westminster Reimagined. In six special episodes, Iannucci explores the parts of British public life he believes are broken and works out how to fix them with guests from inside and outside Westminster. In this episode, Iannucci and Anoosh Chakelian, the New Statesman's Britain editor, discuss the B-word. Six years after Britain voted to leave the EU, Boris Johnson's promise to Get Brexit Done rings hollow. The Northern Ireland protocol is an ever-present sore spot, the Office for Budget Responsibility believes bluntly that Brexit has delivered a “significant adverse impact” on trade and, according to a YouGov poll, the number of Britons who believe it was a mistake now stands at 56 per cent. Our special guests this week are two brothers divided by Brexit, each with businesses that deal with Europe. Ian Baxter, founder and chair of Baxter Freight, voted Remain in the 2016 referendum, while his brother, Nigel Baxter, managing director of RH Commercial Vehicles, voted Leave. Can they come together and unite after years of division? The panel discusses why the brothers found themselves on opposing sides of the Brexit debate, and how their decisions have impacted their relationship, businesses and world-view. Plus, if they have any regrets, and how we as a society can begin to move on.Podcast listeners can subscribe to the New Statesman for just £1 a week for 12 weeks using our special offer: visit newstatesman.com/podcastoffer to learn more Hosted on Acast. See acast.com/privacy for more information.

In anticipation of Chancellor Jeremy Hunt's Autumn Statement, Patricia and Christian talk to economist and author Dr Phil Armstrong about currency crises, inflation, the shortcomings of monetary policy, the national (so-called) debt, the Office for Budget “Responsibility”, and what economic opposition might look like.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846 Phil Armstrong on Twitter: https://twitter.com/PhilArmstrong58   Phil Armstrong: “Can Heterodox Economics Make A Difference?”: https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-9781800370883.html           Relevant to this episode: “Is exchange rate depreciation inflationary?” by Professor Bill Mitchell: http://bilbo.economicoutlook.net/blog/?p=32922 Phil Armstrong's Chapter on conservation of saving is in "Contemporary Issues in Heterodox Economics”: https://www.routledge.com/Contemporary-Issues-in-Heterodox-Economics-Implications-for-Theory-and/Hermann-Mouatt/p/book/9780367509101   More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/     Details of Modern Money Lab's online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Show notes: https://www.patreon.com/posts/74755372?pr=true

This week: How long will the pain last? The Spectator's economics editor Kate Andrews asks this in her cover piece this week, reflecting on Rishi Sunak and Jeremy Hunt's autumn statement. She joins the podcast with Professor David Miles, economy expert at the Office for Budget Responsibility, to discuss the new age of austerity (00:58). Also on the podcast: After Donald Trump announced that he will be running for office in 2024, Freddy Gray writes in the magazine about the never ending Trump campaign. He speaks to Joe Walsh, 2020 Republican presidential candidate, about whether Trump could win the nomination (18:42). And finally: In the arts lead in The Spectator Mathew Lyons celebrates the bleak brilliance of the Peanuts comic strip. He is joined by Christian Adams, political cartoonist at the Evening Standard and long-time fan of the strip (29:02).  Hosted by William Moore.  Produced by Oscar Edmondson. 

Rachel Cunliffe, Freddie Hayward and Rachel Wearmouth dissect the Autumn Statement, which will leave Britain with highest tax burden since the Second World War. They discuss what to make of the Office for Budget Responsibility's bleak forecast that living standards are set to collapse by the largest amount on record, and recap how we got to this point just 55 days after Kwasi Kwarteng's ill-fated tax-cutting “mini-Budget”.If you have a question for You Ask Us, go to newstatesman.com/youaskusPodcast listeners can subscribe to the New Statesman for just £1 a week for 12 weeks using our special offer. Just visit newstatesman.com/podcastoffer. Hosted on Acast. See acast.com/privacy for more information.

This week: How long will the pain last? The Spectator's economics editor Kate Andrews asks this in her cover piece this week, reflecting on Rishi Sunak and Jeremy Hunt's autumn statement. She joins the podcast with Professor David Miles, economy expert at the Office for Budget Responsibility, to discuss the new age of austerity (00:58). Also on the podcast: After Donald Trump announced that he will be running for office in 2024, Freddy Gray writes in the magazine about the never ending Trump campaign. He speaks to Joe Walsh, 2020 Republican presidential candidate, about whether Trump could win the nomination (18:42). And finally: In the arts lead in The Spectator Mathew Lyons celebrates the bleak brilliance of the Peanuts comic strip. He is joined by Christian Adams, political cartoonist at the Evening Standard and long-time fan of the strip (29:02).  Hosted by William Moore.  Produced by Oscar Edmondson. 

This morning the Chancellor has announced that the government will bring forward both its medium term fiscal event and the accompanying Office for Budget Responsibility forecast. Will Kwarteng exercise some spending restraint to calm the Bank of England? Also on the podcast, after Truss appointed Sunak ally Greg Hands as Minister of State for Trade Policy, is she extending an olive branch to unite her party? Natasha Feroze speaks to James Forsyth and Katy Balls. Produced by Natasha Feroze and Oscar Edmondson. 

Fliss looks at National Grid's plan to keep homes and businesses powered this winter - and that could, in the worst case scenario, include three-hour managed blackouts. Also is the new Chancellor in line for an economy reality check? The Office of Budget Responsibility is about to drop a draft economic forecast on Kwasi Kwarteng's desk.

From the BBC World Service: After a chaotic week for the British pound, Liz Truss meets representatives from the Office of Budget Responsibility. The economic watchdog will want to discuss the effects on the U.K.’s economy of last week’s proposed tax cuts. Later this week, Brazilians will go to the polls to elect their president, and a bunch of James Bond stuff goes up for auction.

From the BBC World Service: After a chaotic week for the British pound, Liz Truss meets representatives from the Office of Budget Responsibility. The economic watchdog will want to discuss the effects on the U.K.’s economy of last week’s proposed tax cuts. Later this week, Brazilians will go to the polls to elect their president, and a bunch of James Bond stuff goes up for auction.

As energy prices go up for millions of households this weekend, Money Saving Expert Martin Lewis and The Economist's Soumaya Keynes explain what could happen to our bills. Alex is in Westminster to talk through the PM's emergency meeting with the Office for Budget Responsibility. And comedian and documentary maker Michael Palin tells Adam about his recent travels through Iraq, his previous experience in Ukraine, and why Monty Python director Terry Gilliam's humour is unique.   Today's Newscast was made by Daniel Wittenberg with Miranda Slade, Alix Pickles and Tim Walklate. The editor is Jonathan Aspinwall. Thank you to ITN Productions, Prominent Television, Passepartout Productions and Arts and Entertainment for use of the Michael Palin clips.

Despite rejecting the Office for Budget Responsibility's offer of a forecast to accompany last week's so-called fiscal event, this morning it appears that the government have u-turned. What can we expect from the OBR's statement ahead of the November budget?  Also on the podcast, after last night's YouGov poll put Labour ahead by 33 points, how has the news been received by Conservative MPs? Will Truss row back on her economic plans? Katy Balls speaks to Fraser Nelson and James Forsyth.  Produced by Natasha Feroze and Oscar Edmondson.

Prime Minister Liz Truss and Chancellor Kwasi Kwarteng are set to meet with the head of the Office for Budget Responsibility, known as the OBR and the country's independent forecaster, to discuss the situation. One of the reasons the markets reacted so badly to the chancellor's tax cutting plans released a week ago is that there was no accompanying economic forecast from the Office for Budget responsibility. Last night, the OBR confirmed that it was ready to produce an updated assessment of public finances to be published with the mini-budget a week ago, as is usual practice, but the offer was rejected. Today's Mishal Husain and Justin Webb spoke to Mel Stride, Conservative MP and Chair of the Treasury Select Committee and Andrew Griffith, the Financial Secretary to the Treasury. (IMAGE CREDIT: Chris Radburn/PA Wire)