Budget 2024: A new age of austerity, with £20bn of public spending cuts?
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- Опубликовано: 17 окт 2024
- Sky's economics and data editor, Ed Conway, delves into the numbers from the Budget, and asks whether we're facing a new age of austerity.
The Institute for Fiscal Studies has painted a bleak picture for the country's prospects, saying spending on public services will be cut by around £20bn under the Budget.
Read more: news.sky.com/t...
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It can't be a 'new era of austerity' if we haven't left the previous one yet.
Premium austerity
Im 31 and lived my entire adult life in austerity. Its been hell for young people. Wages are down since 2008, taxes are up and houses have doubled in price so now I need to find £500,000 from somewhere.
Worst cost of living for young people in living memory
Eah wah
@@suzyrottencrotch5132 say it again in English? Or grow up.
HIGHEST TAX IN 70 YEARS...
PERSONAL TAX ALLOWANCE STILL AT £12,570 ...SHOULD BE £15,000
WHAT A HUNT
Should be no tax up to 50k
@@James-st9uuand why is that? You'd rather have a few extra quid and damn the NHS etc? Some people are really selfish.
@@stingersplash we could massively ramp up the personal allowance if we stopped tax avoidance/evasion and made the wealthy pay more for capital gains etc. most pay virtually nothing. rishi pays a lower rate of tax on his millions income than most of us.
It was a meagre £6,450 by 2010 under tightwad Robber Brown....currently doubled under nice, caring Tories.
Back in 2008/9, I was on £14.4k salary...less £2k tax...less 1k council tax plus extortionate £1-47 per litre petrol to get to work.
I was on barely £10k annually under New Labour - no benefits...that's poverty....YES - POVERTY UNDER NASTY WICKED LABOUR.
Victorian Era, anyone?
Jacob Rees-Mogg has been preparing for a return to the Victorian era for decades, seems his dreams have come true.
Yes please i would love to have some scurvy
Perhaps if we didn't give the banks 20 billion a year we would be better off
Thought it is 40 billions ?
dont forget rishi cut their tax rate from 5% to 2% just before inflation went up.
Well done tories, really read the mood of the public. Jesus wept.
The Tories are putting the "N" back in "cuts"
Hold on they are increasing by 1%, that`s a real terms cut!!!
Inflation in the last 12 months was 7%. That`s a 6% cut!!!!
The 1% annual increase is in real terms so it is adjusting for inflation.
POLICE ASSIST eviction of a stage 4 Cancer patient from her home as she can't afford the council tax, yet the government gives illegal immigrants food,bikes and a roof over their heads for free. Let's cut the budget for MP's wages and expenses. Stop sending millions/billions out of this country. this country is turning in to a s1t hole!
Economic migrants are not illegal please educate yourself. They also get jobs and earn a living and become Dr's and lawyers and nurses.
@@tdtm82 if I meant Economic migrants I would not of stated illegal immigrants. I agree with Economic migrants coming and staying here to work and get a education.
Cut public services, let the next government sort it out, rag them for raising the taxes and borrowing to patch up the mistakes. Classic racketeering from the tories!
weird how the mps are still driving brand new cars and having a load of houses though.. and like the people they went to school with/family members are all good too.
The statistics commentary is great, please keep this work up!
But, 'them and theirs' will be ok so, no worries 😉
Sky always do very comprehensive and very clear economic analysis, thks !! (And God help us all !! )
Soon won't be worth living at this rate.
Aye too expensive to live.
All in Tories pockets
Never mind, they can spend over eight million a day on illegal immigrants.
who does that 8 million go to
@garyowen4112 Good question. The figure's come off gov.uk
Tax the assets of the super rich OMG! Distrubution matters
Living standards quite clearly much superior under the Conservatives.
Austerity 2.0
More of the same it feels like!
OUT MEANS OUT!
What did people expect. We don’t produce anything anymore and have had stupid ideas for the last 25 years implemented
The Tories are the UK equivalent of the American MAGAs. They live in cuckoo-land.
Answering the title cold. This is not what we need. The pandemic and Brexit hit us hard. This is the point where we need to spend money to drive growth in the economy. Tories have to face the reality that the rich need to pay their share of tax to support the infrastructure which keeps making the rich richer. Quite apart from the need to defend ourselves as a nation, means we need a serious upgrade in military capacity. All of which drives growth in the economy. If working in 'defecit' means anything... It means generating income to get oneself out of deficit.
Keynesian economics revived Europe and Japan following WW II, there are no good reasons it should not revive us from Brexit and the Pandemic.
However.... The middle class cannot continue paying for it. The wealthy need to make their contribution, in the context of both corporate and personal wealth.
Oh... And CANZUK would be an incredibly smart move. Barring Rejoin.
Cutting housing assistance in the UK is counter productive as temporary accommodation costs are spiralling 😢
Thing is the rate of borrowing and the national debt is because of how much spending we had to do to help people out, and cuts have to be made. But whoever who is the next government, they’ve got a tough job to do and with the economy stagnating, someone really needs to grow it and having a positive economic outlook
im doubting my income will double in 2 years to where im paying the extra tax, all but the lowest seems wrong
Better off/Worse off - bullshit. Completely negates the wage/inflation gap of 30 years, the rises in council tax, things like car insurance and fuel costs.
All are better off than the rich???? How are pensioners better off with this budget
raise the personal tax allowances
BREXIT. 🇬🇧
PROMISES MADE.🇬🇧
PROMISES DELIVERED. 🇬🇧
GB=going badly.
What promises?
Good for the well off
Hey, I know lets go back to the Feudal System!
Torys out. End of
I would agree but this time, voting Labour will teach them for decades that the only way to get the tories out is by being the same as them. It will trap us with basically a 1 party tory state. Anyone but Red or Blue this time.
We are definitely not better off. under tory rule only the rich will get richer. Id say just ban or abolish the tory party.
Yeah uk is struggling a lot already... thats gona help struggle moore. 😂😂😂
We need austerity. Public spending is out of control.
We've had it for 13 years and it didn't work. We need more public spending
what was the last 14 years then ? didn't we make sacrifices then so we would ''be in control'' by now ? even during the 2008 banking crisis that rishi helped create, we had better living standards, what are the new excuses ? because i think we have heard almost everything possible in the last 2 years never mind the previous 12 before that. and if the austerity worked we wouldn't have over tripled our national debt in less than 10 years.
No it isn't, that's the problem. Lack of investment in our infrastructure.
Is this the best Sly can come out with?
Labour will do same . Best to stay with conservatives
It's great believing the media isn't it?
What a stupid comment😂
This is how every government should be. Stop spending so much tax dollars and focus on important things.
😂😂😅
its fitting this guys picture is of Winnie, because only a cartoon character can believe such BS.
Such as?
Brexit continues.