You can’t run a country on the cheap as demonstrated during the last decade. If you want a healthy workforce, you have to pay for it. If you want your employees to get to work by driving on public roads, you have to pay for it. If you want educated employees, you have to pay for it.
His example of his friends small business was just his friend saying he wants to maintain his profit margin and make sure he gets his dividend rather than pay his employees the bonuses they deserve for their hard work. It’s a choice and that person chose himself.
Deeply disappointed with Maitlis and Sopel today. This was the best budget in years for the "worst" off in society, you remember them ? The ones struggling to feed their children ? And Sopel is talking about annual bonuses.
This was a surprisingly cheap and lazy line of questioning. Where's Lewis? No balance here. Well done Rachel. A great budget considering the diabolical mess the last lot left behind.
What absolute nonsense from Maitlis - of course she can leave wriggle room for further tax rises, it would be madness to rule out any tax rises five years in advance, who knows what is around the corner
Big fans of the News Agents.👍 That said, 1-0 to the chancellor today I think. Partly because I thought she was very clear and unambiguous, and partly because I think questions today were asked, answered and asked again. Which is normally fair enough when politicians are being evasive, but I don't think she was today to any unacceptable level.
Interviewer: "economists are saying the NI hike is mainly going to be passed onto working people via their pay packet" Reeves: "I put taxes up on the wealthy and on companies" Clearly didn't engage in the question - apparrently people didn't seem to notice though even though she evaded the question multiple times!
The winter fuel allowance is still there for the poorest pensioners. Between a fifth and a quarter of UK pensioners are asset millionaires. Improving life for all of the poorest has to be better than a universal benefit.
I'm disappointed at this. Oh dear Jon's chum's staff won't get their bonus , the poor things ! All the people I know work very hard and never get anything like a nice little treat top up on their wage!
I knew that Emily is right wing but not by this much. As for Jon, disappointed. This was not a balanced interview. It was almost as if they were trying to bully Rachel. To her credit, she didn't let them do it. She's very impressive.
You realise those people who work very hard are just going to have lower salaries going forward right?! Apparrently lower salaries for the working class is left wing now 😭
@@stephenwood2172 People already have massively lower salaries, comparative to what they had 10 years ago. Austerity underpinned by Brexit saw to that. The only way to fix this is through investment to grow the economy. That isn't going to be easy of course but at least we now have a government with genuine ambition and a plan. A bit more employer's NI is neither here nor there in the great scheme of things. Stop reading Tory bs propaganda and learn to think for yourself.
I still trust that Reeves knows what she'd doing, and that a long-term strategy can pay off. It'll take years for Labour to fix what the Tories broke, and there's no easy path forward. The best thing Reeves can do is ignore the chaotic rabble and stay on track.
I'm finding these questions a bit annoying to be honest. It's all just a silly game isn't it? Can we trick you into committing to an arbitrary number that we will later hold you to in a future interview. Can I avoid falling into that obvious trap, etc
Why don't these attack dogs scrutinise the Democrats or Starmer like this? Chancellor fended them off very well, she ought to be paid better than her muppet boss.
What was not said and the media but some economist have said is there are 7 million people on the waiting list nearly half are working people just getting them back to work is growth and taxes she had to find some extra money for the NHS she did £20 billion.
LOL! Exactly. John's example implied £1000 per year employer's NIC increase per staff member. That's £20 per week, so what? I wonder how much revenue each of his mate's travel consultants bring in to the business.
@desmondroberts6034 They don't magically today bring in £20 per week more in order to cover this tax. So only options are a) lower profits b) higher consumer costs = inflation c) lower wages going forward All the analysis. Not just of UK. Shows answer is vast majority c, little b, nothing a. But people who's competency is worth minimum wage won't have thought it through that far.
Shortsighted people and pundits will take their shots. Forward thinking government is what we've needed for years. Not sure Sopel and Maitlis did more than throw cheap shots which is disappointing from them. Reeves held her ground and if truthful, will serve us really well. Like always time will tell
If? Already isn't. She either knows the NI increases will be paid fir by 80% lower wages and 20% higher inflation and 0% by businesses. So all by workers. Or she doesn't know that as is both economically illiterate and hasn't read OBR etc own reports.
5.35 “my incredibly rich friend wants to keep his high salary and profit so won’t be paying bonuses this year”. The tax on employers means they now have to make the choice between passing it on to consumers, not paying their staff as much or for those at the top of the pay scales to maybe reduce their pay/profits and absorb it themselves.
Big businesses have been choosing to pay shareholders record profits and giving their CEOs 7 figure pay awards- if they can afford that then they can afford to pay more into the state 🤷♀️ sorry but I don’t feel sorry that your mates employees won’t get bonuses this year..most working people don’t get bonuses.. this budget isn’t perfect but it’s a breath of fresh air to see the people with the most made to feel some of the pinch that working people have felt for a long time.
I agree that most shareholder-dominated companies will easily be able to adjust their business models. You dont see them choosing ot to operate in European countries because of higher National Insurance and tax rates. Patterns of long-term investment are likely to be more strongly driven up by government strategy and industrial policy (absent under Conservative governments) than any negative impact of higher tax contributions.
My opinion of Rachel Reeves has gone up, and my opinion of Sopel & Maitlis has gone down after this interview. Both of them seem to be economically illiterate.
Feel like this a rare bad showing by the news agents. Just felt really out of touch with their arguements, seemed very "but my rich friends aren't happy" and "but businesses will just punish the staff to make the money back"
Sopel has always been the most neoliberal of the News Agents, an aging boomer and their most boring correspondent. Matlis has bought the hype from one very famous and lucky interview with a royal, believing the fiction now that series have been made about her. Tbh, the only reason I watch the show is for Lewis, he's the most sensible of the lot.
Finally a budget where public sector workers don't take the biggest hits. Can't relate to Jon's whining about bonuses. There's no way she could have raised working people's taxes given how much everybody's struggling with absurd skyrocketing rent.
@jd4870 Bad faith reply with terminally online energy. If you think NHS workers don't work hard then you've got brainrot from the online propaganda you've been consuming.
@@jd4870 Nurses don't work for their pay? Doctors don't work for their pay? Teachers don't work for their pay? paramedics don't work for their pay? Firefighters don't work for their pay? Prison officers don't work for their pay?
What John and Emily are presenting here is the ‘middle-class’ perspective on the budget. A suspect most working-class people will be happy with it. After all, they are the ones who rely on the NHS and public services.
utter BS - Middle class are working people - they absolutely are dependent on PS and are huge net contributors. Sounds like you need to take a trip back to Sunday school
I have zero sympathy for those complaining about the winter fuel allowance and Labour are right to means test it. 74% of pensioners own their own homes outright so if they can't afford to live i'm sure they can either take out equity or downsize just like working people would have to do if we couldn't afford to live somewhere on our income! 11% of pensioners are on pension credit with another 3-5% of pensioners that are eligible but haven't taken it up (which they should) meaning they will still get it.... And for the other 10% of pensioners they will either have additional income from private pensions or be the unfortunate ones who just fall in that position of being at the income level that just doesn't qualify... but to be fair the triple lock means that the state pension is now worth over £5k a year more (an 80% increase above inflation) than it was in 2000 when you account for inflation. Compare that to the average wage real terms wage growth of about 25% since 2000 it's criminal to expect tax payers to be paying benefits to people who own a significant asset. Pensioners have had the easiest ride in this country for decades, second only to the Asset class.
@@Liverpoolboy01 Pensioners are getting an extra £400 a year this year because of the triple lock. Pensions are the ones with the I'm alright jack attitude.
@@Liverpoolboy01is anything I’ve said incorrect? I pay over £30k a year in tax which I do gladly, I just want to see it spent on people and infrastructure that actually need the money. Not pensioners sitting on large assets who by the way, thanks to the triple lock, will take home nominally more this year from government spending, even without the winter fuel payment
@ A significant amount of pensioners don’t need the payment but if money is offered for free they will spend it. That’s why it needs to be means tested or applied for so the ones that really need it get the payments. Shame at the moment that all the press apart from James O’Brien are coming across at pretty right wing which I just don’t get.
@@stevewatkinson4593I would say you are right, it should be means tested, but the bar is too low, I would think that anyone needing housing benefit and council tax reduction should automatically qualify, common sense says they are not wealthy, other than that one criticism, should have been in place from the beginning
@@lolly9080 you cannot give it back, or refuse it. That was the absurdity. My dad called up and tried, they told him "give it to charity if you don't want it". Madness. To get your state pension you have to fill out a form and apply. Winter fuel you automatically get. Surely it should be the other way around??
This wasn't a very News Agents interview, just like an extended news night grilling, what a waste of 20 minutes of my life, I could have heard these questions and answers in about 30 seconds of the evening news
Should rich or modestly wealthy pensioners receive a £300 winter fuel payment at a time like this? If not what do you do about it? It should always been focused on the poorest pensioners.
Brilliant budget, given her constraints. Businesses and the wealthy were the only benefactors of the past 14 years so a small redressing was long overdue.
interested to how people propose raising funds for public services. Because it seems people don't austerity, don't want tax rises for employees, apparently no tax rises for employers, no tax rises for the super rich Because it will scare them... all whilst wanting better public services
Unsubscribing. There's a BIG difference between asking hard hitting questions and not giving the interviewee chance to finish a sentence. There's speaking truth to power and then there's being offensively rude. Very disappointed - I thought Maitlis and Sopel were better than this.
Here here. Disappointed in their conduct. Do better news agents! Balanced critique is key otherwise you just sound like whining journos looking to make ministers squirm.
I agree, this felt very hostile, and unreasonably so in my opinion. I actually felt bad for her when they kept interrupting and it looked like they managed to intmidate her. Props to her for staying polite, coherent and on message.
Why did Reeves only have NI available to her, to raise funds? Virtually every other economist says this is a terrible solution. Surely she needs some better advisers!
The simple equation for the very great majority of people in the UK is that more revenue in the hands of responsible government buys benefits for those people that are far beyond what each individual could achieve from the money being left in their pockets. As for the NI increase, businesses exist in the UK to make profit and big business does make big profits here. As such those businesses can afford to contribute a bit more to the well being of the UK as Labour sorts out the parlous mess left by brexit and the conservatives. Look at what needs mending around us. Look at the mayhem on our arterial roads to name just one issue! This has been a problem for decades and it costs us as a nation in wasted hours and fuel costs. Labour has a plan and let's see if they can make this work. The last government left a huge mess after 15 years of unbridled power and respondibility. Now we have grown ups in the room whose vision is to make up for all that lost ground and make this country better for all again. Let's get behind the wheel.
I was very disappointed with this but, equally very happy to note how many comments BTL echo my disappointment. The News Agents: Right wing bias 'R Us.
I think working people would have preferred that a Labor chancellor had taxed multi national companies that avoid paying any tax at all and the mega wealthy via income taxes to raise funds.
I agree with many comments here, it is clear Emily Maitlis and Jon Sopel are painfiully trying to be 'balanced' with asking the other sides questions. Any chance of questioning them with positive investigations of the budget
Seriously you are talking nonsense, the Budget is harsh because the economy is in desperate straits, what ever happened would impact in some way on working people. Your suggested 2p rise in basic rate would also have hit working people, so you are being totally dishonest in your position. Agreed hitting businesses is a major issue but there are some measure to help small business, and more generally if their is a shortage of labour in the market business would have to pay more anyway.
Emily, I love ove your work normally but your line of questioning here is economically illiterate. Raise 2p on income tax being fairer than ENIC? Hahaha. Nonsense.
I wonder how much this budget is costing Emily’s mates, she’s seething throughout forgetting she’s been reporting on the worst government in living memory. unsubscribing.
This is what happens when financially ignorant journalists interview a professional economist a whole series of gotcha questions that took the interview nowhere, and failed to inform the viewers.
I’m so relieved we have Rachel Reeves at the helm making these decisions to fix what has gone wrong with the economy for so long. This predicament we find ourselves in is challenging and we need a government who will make the hard choices and not appease people because the consequences are dire. Services are broken - fixing them needs tough choices.
Sopel: why did you increase wages for train workers without linking it to performance? Also Sopel: my mate can't give bonuses to his staff, which he was going to irregardless of performance before the budget
There are many negative effects of not having a redistribution of wealth - birth rate goes down because there is a too small cohort who can afford children, smaller middle class means that the group that buys goods such as cars that increase gdp is reduced, the top percent don't spend (quantitive easing failed as a policy)... ultimately Sunak, May, Osborne were scrooges that hollowed out the population and services, Johnson, Gove and Truss hollowed out our morality and wanted to give our money to rich people who dont spend - driving us towards a culture of cynicism by supporting unscrupulous business interests. They did a lot of damage these people - its unquestionable.
Zero austerity. Plus as a newsagents specific point, the previous video here mentioned a business owner upset about business taxes and yet Rachel didn't do it. Now we have these two, especially Emily trying to counter argue using tory economic concepts. Emily fundamentally cannot think in any other way than as a tory.
How can you have a video about why everyone is scared about the budget and then put out this drivel. It's actually mad how they are still going on about employer NICs count as taxes on working people. Putting up Corp tax will raise prices and suppress wages, is that a tax on working people? Everything is a tax on working people with that logic Additionally means testing the winter fuel allowance is the right thing to do. If Emily is concerned about old people maybe discuss the pension credit threshold instead of complaining that millionaires won't get a payout
Without sorting out social care for the sick elderly - the cost of the NHS will continue to spiral to infinity to the detriment of the whole population. (as beds are filled with the infirm with nowhere else to go). Now that more than half of all taxes are absorbed by the broken NHS and I believe some £29 billion more is to be mindlessly thrown at a broken system without any sort of goal - what will be achieved? Social care for a continually aging and infirm population is paramount to solving this national crisis. Ignoring the largest financial drain on the country and hoping it will disappear is nuts. No this problem does not YET affect me in any way, but it's a massive financial drain that has been completely ignored in ALL conversations today.
To those calling Jon and Emily out of touch, it's called being devil's advocate - without their tough questioning, Rachel wouldn't have had the chance to demonstrate her brilliance!
It matters not which taxes are raised. The bottom line is that a greater proportion of our national wealth needs to be spent on the aging population and renewing the infrastructure of the country. If you raise income tax or VAT or employees NI then people have less money. If you increase corporation tax or employers NI then companies will not have as much money for wage rises and they will put their prices up. What they won't do is reduce their dividends. The only thing to debate was who is going to have to pay extra. Reeves has made that choice.
because labour logically say they need growth, growth includes creating jobs, but this may prevent employers from taking on new staff...but agreed there is no easy solution
@@SamMerchant-vn4or One silver lining is that if employers are more reluctant to take on extra workers they may instead invest in plant/IT to increase the productivity of the workers they have. That could mean less need to import workers, which could have knock on benefits to housing, traffic congestion etc etc
Like News Agents throwing critical and challenging questions at Rachel Reeves, and more impressed at Rachel explained her choices. As an employee, am fine with taxing the employers coz they try to pay the least to employees anyway; annual bonus are peanuts and never my concern. Any less salary they can't hire the right candidates to work for them LOL
So i wonder how much profit does a travel business with 40 employees make.... verses a 40k extra cost to help keep the economy growing, keeping more money in peoples disposable income to allow more people to go one holiday there for increasing his profits. Maybe John Sopels " mate" should go back to basic business school and learn what a loss leader is and stop trying to milk his cash cow from both ends!!! Js and Em asked disappointing illiterate questions that any basic business knowledge would lead you to the obvious answers. What a wasted opportunity to not get into the meat of things while the chancellor was being open and subjecting her work and team to scrutiny. Obviously no political party can risk just saying we are going to cost you all money to fix our country. But if anyone kne tjought after the nursery kids got booted out of office and stopped handing their mates govt money taht the public and every business owner and wealthy individual was not going to have to pitch in to help rebuild our crumbling country, then clearly more ppl need to go back to school and learn the life basics
Growth is overrated. Economists get dizzy about it. I run a small business. I'm delighted that my customers are going to struggle less. Taxes crowdfund our country and they need paying.
A shame that the Chancellor was not asked why she chose to not equalize CGT rates to those with income. Worse still she nearly equalized the CGT rate for the 20% income tax payers but chose to only move the higher rate of CGT to 24% - a 21% gap to those in the 45% income tax bracket, who hold the vast majority of the wealth in this country. Strikes me as consistent with the broadest shoulders and may have avoided the need to raise employers' NIc so that workers dont take a pay cut next year
The winter fuel allowance is still there for the poorest pensioners. Between a fifth and a quarter of UK pensioners are asset millionaires. Improving life for all of the poorest has to be better than a universal benefit.
20:35 but the elderly are wealthy, they are the generation with the highest net wealth and more likely to be millionaires. Maybe they should sell the massive houses that are too big and they can’t afford to heat
Which part of “all the burden on employees” vs “ l shared burden with employers!” For goodness sake people. If you have employees you have to pay them correctly!!!!!
Reeves sounds like a bot. All her answers are robotic and repetitive…. Who wrote those answers….who got their hands on the script….she’s unable to admit any mistakes she made during election promises which f….k her up 😂😂😂😂😂
More poor journalism, cos theres no news like bad news, nothing more boring than a Government just getting on with their jobs....think I will unsubscribe, getting boring......
whats with the grey scale opening ? it makes me check everytime recently and also worried you all look so unhealthy daily ! or maybe the us election is getting to you
Wow what a train wreck interview. Sopel was awful. Maitless clueless on economics. Usually a great podcast, this was biased and poor. Guess Sopel and his mates will be paying more tax. Shame.
So being a simple kind of guy, if we make 41 billion in collecting taxes, does this mean our 22 billion debt is paid off, and the country is in profit by 19 billion, the first time in years?
It would be in surplus for that year. Britain is a service economy though we need to carry debt. The trick is to keep the BDR reasonable which it currently is in the UK due to austerity. The US in comparison has an awful BDR and is likely to have to enforce deep cuts whomever wins their election regardless of the perceived strength of their economy. The biggest problem in the western world is productivity levels mainly caused by a failure to invest in new tech for a myriad of short term greedy thinking reasons. The current effort to tackle productivity is to throw money and manpower at it.
I think the plan is to increase investment in national infrastructure, plus NHS spending was down 2% in 2023 compared to 2019, at a time of increased demand
I am not surprised the News Agents were taking a striking and challenging tone with Rachel Reeves but the critique was fairly weak. Reeves and Starmer are setting out an economic policy that rejects a strategy of austerity and under-investment (a different strategy which is supported by many economists). Conservative austerity and stagnation has failed. Their Brexit fantasy is a disaster that will probably take a decade to repair. The British electorate has chosen politicians with a different vision - one closer to successful European economies and societies. The approach taken is consistent with the messages from writers such as of Mariana Mazzucato and Will Hutton. I think Labour have the right philosophy and a chance to improve the infrastructure and the well-being of our people.
You can’t run a country on the cheap as demonstrated during the last decade.
If you want a healthy workforce, you have to pay for it. If you want your employees to get to work by driving on public roads, you have to pay for it. If you want educated employees, you have to pay for it.
No chance of an education in our schools.
They are just Self Esteem Clinics these days.
His example of his friends small business was just his friend saying he wants to maintain his profit margin and make sure he gets his dividend rather than pay his employees the bonuses they deserve for their hard work. It’s a choice and that person chose himself.
Protecting his class interest. Certain his friend won't be taking as much of a cut as his workers
Deeply disappointed with Maitlis and Sopel today. This was the best budget in years for the "worst" off in society, you remember them ? The ones struggling to feed their children ? And Sopel is talking about annual bonuses.
@@brianferguson7840 you are deluded if you think that is the case.
This was a surprisingly cheap and lazy line of questioning. Where's Lewis? No balance here. Well done Rachel. A great budget considering the diabolical mess the last lot left behind.
What absolute nonsense from Maitlis - of course she can leave wriggle room for further tax rises, it would be madness to rule out any tax rises five years in advance, who knows what is around the corner
Big fans of the News Agents.👍
That said, 1-0 to the chancellor today I think.
Partly because I thought she was very clear and unambiguous, and partly because I think questions today were asked, answered and asked again. Which is normally fair enough when politicians are being evasive, but I don't think she was today to any unacceptable level.
@mardymonkey completely agree. I kind of feel that the NAs came across as quite petulant in this interview.
Interviewer: "economists are saying the NI hike is mainly going to be passed onto working people via their pay packet"
Reeves: "I put taxes up on the wealthy and on companies"
Clearly didn't engage in the question - apparrently people didn't seem to notice though even though she evaded the question multiple times!
@@stephenwood2172apparently someone didn't listen properly
The winter fuel allowance is still there for the poorest pensioners.
Between a fifth and a quarter of UK pensioners are asset millionaires.
Improving life for all of the poorest has to be better than a universal benefit.
I'm disappointed at this. Oh dear Jon's chum's staff won't get their bonus , the poor things ! All the people I know work very hard and never get anything like a nice little treat top up on their wage!
I knew that Emily is right wing but not by this much. As for Jon, disappointed. This was not a balanced interview. It was almost as if they were trying to bully Rachel. To her credit, she didn't let them do it. She's very impressive.
You realise those people who work very hard are just going to have lower salaries going forward right?! Apparrently lower salaries for the working class is left wing now 😭
Also, why does the 40,000 pound bill not come out of the owners pocket, why do the staff have to lose their bonus?
@@stephenwood2172 People already have massively lower salaries, comparative to what they had 10 years ago. Austerity underpinned by Brexit saw to that. The only way to fix this is through investment to grow the economy. That isn't going to be easy of course but at least we now have a government with genuine ambition and a plan. A bit more employer's NI is neither here nor there in the great scheme of things. Stop reading Tory bs propaganda and learn to think for yourself.
I still trust that Reeves knows what she'd doing, and that a long-term strategy can pay off. It'll take years for Labour to fix what the Tories broke, and there's no easy path forward. The best thing Reeves can do is ignore the chaotic rabble and stay on track.
I'm finding these questions a bit annoying to be honest. It's all just a silly game isn't it? Can we trick you into committing to an arbitrary number that we will later hold you to in a future interview. Can I avoid falling into that obvious trap, etc
Completetly agree
Why don't these attack dogs scrutinise the Democrats or Starmer like this? Chancellor fended them off very well, she ought to be paid better than her muppet boss.
What was not said and the media but some economist have said is there are 7 million people on the waiting list nearly half are working people just getting them back to work is growth and taxes she had to find some extra money for the NHS she did £20 billion.
Well said,very annoying if these two
People on minimum wage dont get annual bonuses. Cry me a river
LOL! Exactly. John's example implied £1000 per year employer's NIC increase per staff member. That's £20 per week, so what? I wonder how much revenue each of his mate's travel consultants bring in to the business.
@desmondroberts6034
They don't magically today bring in £20 per week more in order to cover this tax.
So only options are
a) lower profits
b) higher consumer costs = inflation
c) lower wages going forward
All the analysis. Not just of UK. Shows answer is vast majority c, little b, nothing a.
But people who's competency is worth minimum wage won't have thought it through that far.
Also people on minimum wage don’t get a winter fuel payment allowance.
Shortsighted people and pundits will take their shots. Forward thinking government is what we've needed for years. Not sure Sopel and Maitlis did more than throw cheap shots which is disappointing from them. Reeves held her ground and if truthful, will serve us really well. Like always time will tell
How will Reeves' tax-heavy budget increase growth while simultaneously reducing inflation?
When will this occur?
You are the futurist: give us a date.
we already had record high taxes and she just raised them.
If? Already isn't.
She either knows the NI increases will be paid fir by 80% lower wages and 20% higher inflation and 0% by businesses. So all by workers.
Or she doesn't know that as is both economically illiterate and hasn't read OBR etc own reports.
@@agmor1 Have you read the 170 page document with the forecast? It lays it out there for you.
I agree but I also appreaciate that they've the second part of the interview, where they gave their own opinions.
Many said the minimum wage would cause mass unemployment. It didn’t! Brexit, however…..
Didn’t either…
Hasn't caused mass unemployment either 😂
Exactly 💯
Quite, 4% off GDP just because of the hard-line Brexit :(
@@SandraT1107 from forecasts that didn’t predict Covid. You’re insufferable
5.35 “my incredibly rich friend wants to keep his high salary and profit so won’t be paying bonuses this year”. The tax on employers means they now have to make the choice between passing it on to consumers, not paying their staff as much or for those at the top of the pay scales to maybe reduce their pay/profits and absorb it themselves.
My thoughts exactly!
It won't be the last one.
Customers vote with their feet and are not fools.
There needs to be more competition in the market WHICH drives up growth.
Yes. Those are the 3 choices.
OBR and all history shows hardly any of it will come from profits. And nor should it.
Wow, really harsh and agressive questioning,, she did really well. Clearly we need Lewis back, very unbalanced interview, almost biased
Big businesses have been choosing to pay shareholders record profits and giving their CEOs 7 figure pay awards- if they can afford that then they can afford to pay more into the state 🤷♀️ sorry but I don’t feel sorry that your mates employees won’t get bonuses this year..most working people don’t get bonuses.. this budget isn’t perfect but it’s a breath of fresh air to see the people with the most made to feel some of the pinch that working people have felt for a long time.
This will hit the middle of the road businesses. Got news for you - private investors are pulling out of the market at the rate of knots
I agree that most shareholder-dominated companies will easily be able to adjust their business models. You dont see them choosing ot to operate in European countries because of higher National Insurance and tax rates.
Patterns of long-term investment are likely to be more strongly driven up by government strategy and industrial policy (absent under Conservative governments) than any negative impact of higher tax contributions.
My opinion of Rachel Reeves has gone up, and my opinion of Sopel & Maitlis has gone down after this interview. Both of them seem to be economically illiterate.
Still don't think she hit the ultra rich ....a wealth tax of at least 2% on wealth over 10 million would have raised billions !!
The only people against that imagine that one day they will be super rich themselves.
Feel like this a rare bad showing by the news agents. Just felt really out of touch with their arguements, seemed very "but my rich friends aren't happy" and "but businesses will just punish the staff to make the money back"
Giving poorer people more money will incentivize greater spending which will increase GDP. Rich people don't spend.
I have a mate in business. Sums up our Media class and who they hang about with and look out for!
Sopel has always been the most neoliberal of the News Agents, an aging boomer and their most boring correspondent. Matlis has bought the hype from one very famous and lucky interview with a royal, believing the fiction now that series have been made about her. Tbh, the only reason I watch the show is for Lewis, he's the most sensible of the lot.
Finally a budget where public sector workers don't take the biggest hits. Can't relate to Jon's whining about bonuses.
There's no way she could have raised working people's taxes given how much everybody's struggling with absurd skyrocketing rent.
Got news for you mate - private sector actually have to work for their pay. And the private sector is one that generates wealth.
@jd4870 Bad faith reply with terminally online energy. If you think NHS workers don't work hard then you've got brainrot from the online propaganda you've been consuming.
@@jd4870 Nurses don't work for their pay? Doctors don't work for their pay? Teachers don't work for their pay? paramedics don't work for their pay? Firefighters don't work for their pay? Prison officers don't work for their pay?
What John and Emily are presenting here is the ‘middle-class’ perspective on the budget. A suspect most working-class people will be happy with it. After all, they are the ones who rely on the NHS and public services.
Middle class fund the benefits class (I don't like the outdated term "working" which everyone does).
utter BS - Middle class are working people - they absolutely are dependent on PS and are huge net contributors. Sounds like you need to take a trip back to Sunday school
@@jamessmith1652 Middle class people are much closer to working class people than they are to the upper class 🤣
Rachel Reeves is a very smart, confident and sensible Chancellor. I’m happy to have her in post.
Yesterdays budget felt like the grown ups in the room have returned.
I have zero sympathy for those complaining about the winter fuel allowance and Labour are right to means test it. 74% of pensioners own their own homes outright so if they can't afford to live i'm sure they can either take out equity or downsize just like working people would have to do if we couldn't afford to live somewhere on our income! 11% of pensioners are on pension credit with another 3-5% of pensioners that are eligible but haven't taken it up (which they should) meaning they will still get it.... And for the other 10% of pensioners they will either have additional income from private pensions or be the unfortunate ones who just fall in that position of being at the income level that just doesn't qualify... but to be fair the triple lock means that the state pension is now worth over £5k a year more (an 80% increase above inflation) than it was in 2000 when you account for inflation. Compare that to the average wage real terms wage growth of about 25% since 2000 it's criminal to expect tax payers to be paying benefits to people who own a significant asset. Pensioners have had the easiest ride in this country for decades, second only to the Asset class.
@@devlifedotnet what a total self serving , I’m alright Jack attitude!! You know eff all
@@Liverpoolboy01 Pensioners are getting an extra £400 a year this year because of the triple lock. Pensions are the ones with the I'm alright jack attitude.
@@Liverpoolboy01is anything I’ve said incorrect? I pay over £30k a year in tax which I do gladly, I just want to see it spent on people and infrastructure that actually need the money. Not pensioners sitting on large assets who by the way, thanks to the triple lock, will take home nominally more this year from government spending, even without the winter fuel payment
@ and you know that there is all these rich pensioners, because you know some 🥴
@@Liverpoolboy01no, its literally data collected by the ONS
5:40 if your income is reliant on a bonus every year, then they're not paying you enough in the first place!
At least this one didn't give the economy a swirly.
Well done Rachel. Not one of Emily’s best interviews. My parents use winter fuel payments to pay for holidays, how can that be right?
What’s bizarre is if they don’t need it why don’t they give it back because we all have a choice.
@ A significant amount of pensioners don’t need the payment but if money is offered for free they will spend it. That’s why it needs to be means tested or applied for so the ones that really need it get the payments. Shame at the moment that all the press apart from James O’Brien are coming across at pretty right wing which I just don’t get.
@@stevewatkinson4593I would say you are right, it should be means tested, but the bar is too low, I would think that anyone needing housing benefit and council tax reduction should automatically qualify, common sense says they are not wealthy, other than that one criticism, should have been in place from the beginning
@@lolly9080 you cannot give it back, or refuse it. That was the absurdity. My dad called up and tried, they told him "give it to charity if you don't want it". Madness.
To get your state pension you have to fill out a form and apply. Winter fuel you automatically get. Surely it should be the other way around??
@ Totally agree👍
This wasn't a very News Agents interview, just like an extended news night grilling, what a waste of 20 minutes of my life, I could have heard these questions and answers in about 30 seconds of the evening news
I've always known that Emily is right wing but I didn't realise how much before I watched this. Not even an attempt to be measured.
Dont understand the hostility and interruptions from Sopel and Maitlis.... very disappointed. They seemed furious with her. Bizarre.
Should rich or modestly wealthy pensioners receive a £300 winter fuel payment at a time like this? If not what do you do about it? It should always been focused on the poorest pensioners.
Please don't conflate -salary with bonuses - that's how the banking industry got us in trouble
Brilliant budget, given her constraints. Businesses and the wealthy were the only benefactors of the past 14 years so a small redressing was long overdue.
She is super cool ,go girl go!
Just look at the physical stance both Emily and John take, quite aggressive and wanting to attack, just a couple of bullies. Shame on you...
I think she handled this interview well
reeves was excellent, clear and concise. such a breath of fresh air to have adults making decisions
Arrogant and clueless seem better adjectives
@ oh dear. another alpha male feeling threatened by an intelligent woman
interested to how people propose raising funds for public services. Because it seems people don't austerity, don't want tax rises for employees, apparently no tax rises for employers, no tax rises for the super rich Because it will scare them... all whilst wanting better public services
Poor outing from the news agents today.
Unsubscribing. There's a BIG difference between asking hard hitting questions and not giving the interviewee chance to finish a sentence. There's speaking truth to power and then there's being offensively rude. Very disappointed - I thought Maitlis and Sopel were better than this.
Here here. Disappointed in their conduct. Do better news agents! Balanced critique is key otherwise you just sound like whining journos looking to make ministers squirm.
Same here
👍 agree!
I agree, this felt very hostile, and unreasonably so in my opinion. I actually felt bad for her when they kept interrupting and it looked like they managed to intmidate her. Props to her for staying polite, coherent and on message.
Why should Labour not be treated how the Conservatives were in Government! By the media!!!
Well handled Rachel.
Lol the journo class are mad because their bonuses and businesses will be impacted... oridinary workers dont all bonuses
I can't wait for have i got news for you on Friday 😂
great budget - makes a change from tory austerity fantasy economics and corruption and bribery (covid etc)
Why did Reeves only have NI available to her, to raise funds? Virtually every other economist says this is a terrible solution. Surely she needs some better advisers!
The simple equation for the very great majority of people in the UK is that more revenue in the hands of responsible government buys benefits for those people that are far beyond what each individual could achieve from the money being left in their pockets.
As for the NI increase, businesses exist in the UK to make profit and big business does make big profits here. As such those businesses can afford to contribute a bit more to the well being of the UK as Labour sorts out the parlous mess left by brexit and the conservatives.
Look at what needs mending around us. Look at the mayhem on our arterial roads to name just one issue! This has been a problem for decades and it costs us as a nation in wasted hours and fuel costs.
Labour has a plan and let's see if they can make this work. The last government left a huge mess after 15 years of unbridled power and respondibility. Now we have grown ups in the room whose vision is to make up for all that lost ground and make this country better for all again. Let's get behind the wheel.
I was very disappointed with this but, equally very happy to note how many comments BTL echo my disappointment. The News Agents: Right wing bias 'R Us.
Best budget we've had for a long time.
Comments show that Reeves need to be given a chance!
I think working people would have preferred that a Labor chancellor had taxed multi national companies that avoid paying any tax at all and the mega wealthy via income taxes to raise funds.
Everybody has to share the pain including pensioners !
I’d say especially pensioners, they’ve had it easiest out of everyone
I agree with many comments here, it is clear Emily Maitlis and Jon Sopel are painfiully trying to be 'balanced' with asking the other sides questions. Any chance of questioning them with positive investigations of the budget
Seriously you are talking nonsense, the Budget is harsh because the economy is in desperate straits, what ever happened would impact in some way on working people. Your suggested 2p rise in basic rate would also have hit working people, so you are being totally dishonest in your position. Agreed hitting businesses is a major issue but there are some measure to help small business, and more generally if their is a shortage of labour in the market business would have to pay more anyway.
And what’s your suggestion? She’s cleaning up your mess
Emily, I love ove your work normally but your line of questioning here is economically illiterate. Raise 2p on income tax being fairer than ENIC? Hahaha. Nonsense.
Didnt know Emily had an economics degree
The Chancellor is not an economist! Her job in the Bank was as a complaints manager.
I wonder how much this budget is costing Emily’s mates, she’s seething throughout forgetting she’s been reporting on the worst government in living memory. unsubscribing.
This is the only time I agreed, with what Emily said.
This is what happens when financially ignorant journalists interview a professional economist a whole series of gotcha questions that took the interview nowhere, and failed to inform the viewers.
I’m so relieved we have Rachel Reeves at the helm making these decisions to fix what has gone wrong with the economy for so long. This predicament we find ourselves in is challenging and we need a government who will make the hard choices and not appease people because the consequences are dire. Services are broken - fixing them needs tough choices.
Sopel: why did you increase wages for train workers without linking it to performance?
Also Sopel: my mate can't give bonuses to his staff, which he was going to irregardless of performance before the budget
Taxes are going up mainly rising on the well off. She has not raised the main NI Income tax of the working people
This is the most intelligent analysis of the budget I've heard. Thank you for never selling us lazy journalism.
Tax the obscenely wealthy. Please
I agree mate but if people are whinging to this degree at this budget, how do you think they’d react to that?
Disagree with her over N.I for employers ,tax on jobs,but the rest of the budget is v.good.
There are many negative effects of not having a redistribution of wealth - birth rate goes down because there is a too small cohort who can afford children, smaller middle class means that the group that buys goods such as cars that increase gdp is reduced, the top percent don't spend (quantitive easing failed as a policy)... ultimately Sunak, May, Osborne were scrooges that hollowed out the population and services, Johnson, Gove and Truss hollowed out our morality and wanted to give our money to rich people who dont spend - driving us towards a culture of cynicism by supporting unscrupulous business interests. They did a lot of damage these people - its unquestionable.
The NI on business will probably slow down wage growth a bit. In turn that will probably help keep a lid on inflation. I wonder if that’s deliberate?
I doubt it
At long, long last, a chancellor who talks like a responsible adult.
Fantastic budget.
Why / how?
Zero austerity. Plus as a newsagents specific point, the previous video here mentioned a business owner upset about business taxes and yet Rachel didn't do it.
Now we have these two, especially Emily trying to counter argue using tory economic concepts. Emily fundamentally cannot think in any other way than as a tory.
How can you have a video about why everyone is scared about the budget and then put out this drivel. It's actually mad how they are still going on about employer NICs count as taxes on working people. Putting up Corp tax will raise prices and suppress wages, is that a tax on working people? Everything is a tax on working people with that logic
Additionally means testing the winter fuel allowance is the right thing to do. If Emily is concerned about old people maybe discuss the pension credit threshold instead of complaining that millionaires won't get a payout
These were just silly questions tbh.
Without sorting out social care for the sick elderly - the cost of the NHS will continue to spiral to infinity to the detriment of the whole population. (as beds are filled with the infirm with nowhere else to go).
Now that more than half of all taxes are absorbed by the broken NHS and I believe some £29 billion more is to be mindlessly thrown at a broken system
without any sort of goal - what will be achieved?
Social care for a continually aging and infirm population is paramount to solving this national crisis. Ignoring the largest financial drain on the country and hoping it will disappear is nuts.
No this problem does not YET affect me in any way, but it's a massive financial drain that has been completely ignored in ALL conversations today.
Agreed, social care plus not much help for caregivers still needs urgent action.
To those calling Jon and Emily out of touch, it's called being devil's advocate - without their tough questioning, Rachel wouldn't have had the chance to demonstrate her brilliance!
It matters not which taxes are raised. The bottom line is that a greater proportion of our national wealth needs to be spent on the aging population and renewing the infrastructure of the country. If you raise income tax or VAT or employees NI then people have less money. If you increase corporation tax or employers NI then companies will not have as much money for wage rises and they will put their prices up. What they won't do is reduce their dividends.
The only thing to debate was who is going to have to pay extra. Reeves has made that choice.
because labour logically say they need growth, growth includes creating jobs, but this may prevent employers from taking on new staff...but agreed there is no easy solution
@@SamMerchant-vn4or One silver lining is that if employers are more reluctant to take on extra workers they may instead invest in plant/IT to increase the productivity of the workers they have. That could mean less need to import workers, which could have knock on benefits to housing, traffic congestion etc etc
Freezing income tax thresholds for another 4 years IS a tax rise on workers, and a huge one at that. Why is nobody asking about this?
Like News Agents throwing critical and challenging questions at Rachel Reeves, and more impressed at Rachel explained her choices. As an employee, am fine with taxing the employers coz they try to pay the least to employees anyway; annual bonus are peanuts and never my concern. Any less salary they can't hire the right candidates to work for them LOL
The answer to this question , is a big fat NO, unless of course you are better off than the lower working class . As for the rich TOUGH.
So i wonder how much profit does a travel business with 40 employees make.... verses a 40k extra cost to help keep the economy growing, keeping more money in peoples disposable income to allow more people to go one holiday there for increasing his profits. Maybe John Sopels " mate" should go back to basic business school and learn what a loss leader is and stop trying to milk his cash cow from both ends!!! Js and Em asked disappointing illiterate questions that any basic business knowledge would lead you to the obvious answers. What a wasted opportunity to not get into the meat of things while the chancellor was being open and subjecting her work and team to scrutiny. Obviously no political party can risk just saying we are going to cost you all money to fix our country. But if anyone kne tjought after the nursery kids got booted out of office and stopped handing their mates govt money taht the public and every business owner and wealthy individual was not going to have to pitch in to help rebuild our crumbling country, then clearly more ppl need to go back to school and learn the life basics
Terrible interview. Maitlis and Sopel spent the whole time trying to get a gotcha. Disappointing.
Growth is overrated. Economists get dizzy about it. I run a small business. I'm delighted that my customers are going to struggle less. Taxes crowdfund our country and they need paying.
A shame that the Chancellor was not asked why she chose to not equalize CGT rates to those with income. Worse still she nearly equalized the CGT rate for the 20% income tax payers but chose to only move the higher rate of CGT to 24% - a 21% gap to those in the 45% income tax bracket, who hold the vast majority of the wealth in this country. Strikes me as consistent with the broadest shoulders and may have avoided the need to raise employers' NIc so that workers dont take a pay cut next year
The News Agents lean more to the right. Emily is trying really hard to brand RR as useless.
K.S.Is 4 square behind her.
The winter fuel allowance is still there for the poorest pensioners.
Between a fifth and a quarter of UK pensioners are asset millionaires.
Improving life for all of the poorest has to be better than a universal benefit.
20:35 but the elderly are wealthy, they are the generation with the highest net wealth and more likely to be millionaires.
Maybe they should sell the massive houses that are too big and they can’t afford to heat
there are a lot of pensioners suffering from fuel poverty who are going to end up being treated by the NHS, they are not all in stately mansions.
Not me! Yet not eligible for pension credit, anything now.
People, including old people are much more resilent than you think.WE ARE BRITISH !
Which part of “all the burden on employees” vs “ l shared burden with employers!”
For goodness sake people. If you have employees you have to pay them correctly!!!!!
Emily a bit biased - look at it clearly and not emotionally - calm down
They're all wealthy people who have their own businesses. They're angry because they will have to pay more money personally.
Reeves sounds like a bot. All her answers are robotic and repetitive…. Who wrote those answers….who got their hands on the script….she’s unable to admit any mistakes she made during election promises which f….k her up 😂😂😂😂😂
The winter fuel thing was the best of a bad bunch by the sounds of it.
Matlis and Sopel looking shocked at backing the wrong horse
More poor journalism, cos theres no news like bad news, nothing more boring than a Government just getting on with their jobs....think I will unsubscribe, getting boring......
Robot Reeves and I doubt that missed bonus that Sopel speaks off will prevent them from putting the heating on this winter.
How can you believe them now after all the lies .
And back handers
The black hole of 22 billion is not true - 9 billion was given to the train drivers and that was a decision made by Labour after they got into power.
whats with the grey scale opening ? it makes me check everytime recently and also worried you all look so unhealthy daily ! or maybe the us election is getting to you
Wow what a train wreck interview. Sopel was awful. Maitless clueless on economics.
Usually a great podcast, this was biased and poor.
Guess Sopel and his mates will be paying more tax. Shame.
And tell her the pensioners want their fuel money back and I am not taken in by the black hole
So being a simple kind of guy, if we make 41 billion in collecting taxes, does this mean our 22 billion debt is paid off, and the country is in profit by 19 billion, the first time in years?
It would be in surplus for that year. Britain is a service economy though we need to carry debt. The trick is to keep the BDR reasonable which it currently is in the UK due to austerity. The US in comparison has an awful BDR and is likely to have to enforce deep cuts whomever wins their election regardless of the perceived strength of their economy. The biggest problem in the western world is productivity levels mainly caused by a failure to invest in new tech for a myriad of short term greedy thinking reasons. The current effort to tackle productivity is to throw money and manpower at it.
I think the plan is to increase investment in national infrastructure, plus NHS spending was down 2% in 2023 compared to 2019, at a time of increased demand
I am not surprised the News Agents were taking a striking and challenging tone with Rachel Reeves but the critique was fairly weak. Reeves and Starmer are setting out an economic policy that rejects a strategy of austerity and under-investment (a different strategy which is supported by many economists).
Conservative austerity and stagnation has failed. Their Brexit fantasy is a disaster that will probably take a decade to repair. The British electorate has chosen politicians with a different vision - one closer to successful European economies and societies.
The approach taken is consistent with the messages from writers such as of Mariana Mazzucato and Will Hutton. I think Labour have the right philosophy and a chance to improve the infrastructure and the well-being of our people.
The money printers are printing Monopoly money not backed by sweat labour or product. This will weaken the hard earned pounds in our pockets!
Could have asked about agricultural IHT. That one measure will destroy farming in this country.