00:00 I want to see three things, really.
00:01 I want to see that we have shown that we can run the economy
00:04 fiscally responsibly.
00:05 And I think you're going to see that today
00:07 with some of the ABR forecasts about the fact
00:09 that debt is now beginning to fall.
00:12 I think I want to see if there is
00:14 room for tax cuts in terms today,
00:17 then I want to see, as it's been well-trailed this morning,
00:20 something that benefits more people.
00:21 And national insurance does that.
00:23 Or you could have moved to some of the lower thresholds.
00:25 But it looks like it's national insurance.
00:27 And the one thing that you will know that I wrote something
00:30 on over the weekend was actually ensuring that we boost business.
00:35 And I--
00:36 Boosting growth it's called, isn't it?
00:37 It is called boosting growth.
00:38 One of the ways to do that is to ensure
00:40 that companies can invest so that it grows for the future
00:43 in an all-inflationary way.
00:45 And doing what we think we're going to do,
00:47 which is the 100% of expensing, will
00:49 mean that it simplifies the tax system,
00:52 it gives businesses certainty.
00:54 And the ABR is saying that's already
00:56 boosting investment growth by about 3% a year.
00:59 So if you make it permanent, that's likely to do more.
01:01 Why would he do all these things now
01:03 rather than in the budget before a general election, which
01:07 we all know is coming?
01:08 Or is he lucky to be able to have two bites at the cherry?
01:12 Well, I think that it's the fact is the matter
01:14 is that we have had for many years these two
01:18 fiscal events every year, a budget and an autumn statement.
01:21 He's got more fiscal room because the economy
01:24 is growing slightly more strongly than people
01:26 had expected in March now.
01:28 And it seems to be sensible that if you
01:29 want to see an economy grow, why don't you give--
01:32 we've already seen some forecasts upgraded.
01:34 Why don't you give it that boost now?
Comments