Latest / Best of Business / Enda Brady: UK correspondent on the fallout from the UK 2025 Budget

Transcript

Enda Brady: UK correspondent on the fallout from the UK 2025 Budget · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks. It'd be
• 0:12
  Speaker 1: follow this and a wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: In the Brady UK correspondence with me, Hello, Winda, Hey Heather,
• 0:20
  Speaker 2: how are you all right? So tell me what you
• 0:23
  Speaker 2: think of the budget?
• 0:25
  Speaker 3: Well, if you believe the papers and their calculations and
• 0:28
  Speaker 3: all the experts were all a lot less well off
• 0:30
  Speaker 3: than we were twenty four hours ago. And I think
• 0:33
  Speaker 3: looking long term, some people's pension pots could be down
• 0:37
  Speaker 3: as much as one hundred thousand dollars higher earners towards
• 0:41
  Speaker 3: the end of their careers. This is a very kind
• 0:44
  Speaker 3: of clever, stealthy way of taking money from people without
• 0:49
  Speaker 3: them really realizing it. So Rachel reeves at the Chancellor.
• 0:53
  Speaker 3: She has gone after pensions, she's gone after workers, she's
• 0:56
  Speaker 3: gone after savers. They've even put a tax on milkshakes.
• 0:59
  Speaker 3: Would you believe there's nothing they haven't tax this time?
• 1:02
  Speaker 2: So how do you justify a text on milkshakes? What
• 1:04
  Speaker 2: is it a milkshake text?
• 1:07
  Speaker 3: The sugar in in milkshakes. And they've also put a
• 1:10
  Speaker 3: tax on those, you know, those canned lattes that you
• 1:13
  Speaker 3: see in petrol station service stations. They've put a tax
• 1:16
  Speaker 3: on those as well, so they've got it under the
• 1:18
  Speaker 3: sugar tax. So what will happen is the manufacturers will
• 1:21
  Speaker 3: go away. They'll come up with a different recipe, probably
• 1:24
  Speaker 3: even less healthy for consumers. But they've I don't know,
• 1:28
  Speaker 3: they inherited a complete mess. And one line that Reeves
• 1:31
  Speaker 3: came out with yesterday when she was speaking was that
• 1:33
  Speaker 3: she said, this is not about the last fourteen months
• 1:36
  Speaker 3: of us, It's about fixing the last fourteen years of them,
• 1:40
  Speaker 3: and she pointed at the Conservatives. But the public aren't interested.
• 1:43
  Speaker 3: I think Christmas coming, we're in winter now, energy bills rocketing.
• 1:47
  Speaker 3: People care about how much cash or how little cash
• 1:50
  Speaker 3: they have left at the end of the month. And
• 1:52
  Speaker 3: I just can't see Starmer turning this round now.
• 1:55
  Speaker 2: Okay, so she says, she says that energy bills are
• 1:59
  Speaker 2: going to fall in something like one hundred and fifty
• 2:01
  Speaker 2: pounds on average over a year, so there is some
• 2:03
  Speaker 2: sweetener in there for the public. On balance, does the
• 2:06
  Speaker 2: public like what it sees or hate what it sees?
• 2:08
  Speaker 3: I think the public absolutely hates what it's seeing from
• 2:11
  Speaker 3: labor right now. And yes, she's saying that come April
• 2:14
  Speaker 3: next year they're going to put in place mechanisms where
• 2:18
  Speaker 3: energy bills will fall. Well come April, the weather gets
• 2:21
  Speaker 3: better and people won't be using as much energy, So
• 2:24
  Speaker 3: why can't they do it now? I just the thing
• 2:27
  Speaker 3: that really kind of sticks with me is an awful
• 2:29
  Speaker 3: lot of money seems to be earmarked for welfare payments
• 2:33
  Speaker 3: and benefits. I think it's a great budget if you're
• 2:35
  Speaker 3: on benefits and you don't do any work. But they're
• 2:38
  Speaker 3: clobbering working families, and traditionally working families vote Labor, so
• 2:43
  Speaker 3: you can join the dots up the way. This is
• 2:44
  Speaker 3: going to go okay.
• 2:45
  Speaker 2: So how does it go for Keistama?
• 2:48
  Speaker 3: I think he's got until these elections in May. There
• 2:51
  Speaker 3: are national elections in Scotland and Wales in May, and
• 2:54
  Speaker 3: then local elections across England as well. And if you
• 2:57
  Speaker 3: look at the polling, I mean, Reformer hitting twenty six
• 3:01
  Speaker 3: thirty percent in some places, Labor are limping along at
• 3:04
  Speaker 3: sixteen the Green Party now snapping at Labour's heels on
• 3:08
  Speaker 3: fit fifteen percent, and nobody votes Green here save for
• 3:11
  Speaker 3: a few constituencies. So he's polling is absolutely shocking, and
• 3:15
  Speaker 3: I think all of the chatter of the last two
• 3:17
  Speaker 3: weeks about Wes streeting the Health secretary, lining up his
• 3:20
  Speaker 3: ducks and wanting to be the next leader and Prime minister.
• 3:23
  Speaker 3: There's something in that clearly, but I think Starmer's into
• 3:26
  Speaker 3: the last six months.
• 3:28
  Speaker 2: Wow okay, and what is this tourist text in Cornwall
• 3:30
  Speaker 2: and divin like so.
• 3:33
  Speaker 3: This is away from the budget. This is something that
• 3:35
  Speaker 3: they're going to give regional mayors the power to do
• 3:38
  Speaker 3: in their areas, and Devon and Cornwall seem quite keen
• 3:41
  Speaker 3: on us. So anyone who's traveled in Europe in the
• 3:43
  Speaker 3: last couple of years, you pay your bills up front,
• 3:45
  Speaker 3: and when you check out the hotel suddenly the guy
• 3:48
  Speaker 3: or lady on reception will say to you, oh, there's
• 3:50
  Speaker 3: the tourist tax. We need to settle up and yeah,
• 3:52
  Speaker 3: it's only about four dollars a night in some cities.
• 3:55
  Speaker 3: And I've had this happen to me in Italy, France
• 3:58
  Speaker 3: and the Netherlands in the last few years. And you're like, oh, okay,
• 4:02
  Speaker 3: and then when you realize, hang on, I've been here
• 4:04
  Speaker 3: a week, We've got the kids with us, whoa okay,
• 4:07
  Speaker 3: So there's not much change of you know, a lot
• 4:09
  Speaker 3: of dollars. Basically, they're stealing the idea from some European
• 4:14
  Speaker 3: cities whereby they will bang in this extra maybe four
• 4:17
  Speaker 3: or five dollars an I tourus tax per person and
• 4:20
  Speaker 3: then the local regional authority will be able to spend
• 4:23
  Speaker 3: that on services in places like Devon and Cornwall. So
• 4:26
  Speaker 3: it's yet another stealth tax, and because it's so small,
• 4:30
  Speaker 3: most people don't question it. Anytime I have questioned it
• 4:33
  Speaker 3: in Europe, they blame the local mayor and that's exactly
• 4:36
  Speaker 3: what's going to happen here.
• 4:37
  Speaker 2: Ah yeah, okay, Inda, thank you very much, really appreciate
• 4:40
  Speaker 2: your time. Mate. That's into Brady, UK Correspondent.
• 4:43
  Speaker 1: For more from news talks, it'd be listen live on
• 4:46
  Speaker 1: air or online and keep our shows with you wherever
• 4:49
  Speaker 1: you go with our podcasts on iHeartRadio