00:00is the political commentator and consultant Dominic Moffat. Dominic, this is difficult to
00:06describe as anything other than perhaps a difficult day for the Prime Minister and a
00:11victory for Nigel Farage. Well, Tom, I think you're right. I think this is a very difficult
00:16day for the Prime Minister. There are two core parts to this. The first one is that Labour MPs
00:22who have been sent out to defend this policy month on month on month are going to be absolutely
00:27furious. They have been sent out to defend something that the Prime Minister will now
00:31try and gain credit for rolling back. The second point is that businesses crave stability. They
00:38crave predictability and taxation. I know this isn't a tax, but Treasury Ministers have made it
00:44very clear we're not going to keep changing everything like the last government. Something
00:47like eight massive tax changes for small businesses in the couple of years running up to the election,
00:53Treasury Ministers say we're not going to behave like that. If this is the start of a push like
00:57that, small businesses are really going to suffer. I was talking to small business owners,
01:01Sohan and Amria, and they were saying that the massive issue for them is that if they can't
01:06predict what's going to be coming down the line, they want a long-term thing that they're able to
01:10plan on. And I suppose the idea is that if this money is now going to be spent back on winter fuel
01:17payments, perhaps £1.5 billion, where will the Chancellor find the £1.5 billion? Well, this money is
01:24going to have to come from somewhere. And obviously, there have been massive announcements about
01:27increases in defence spending by the government. There have been a lot of promises around investing
01:33in infrastructure. Are they the things that are going to be cut? And businesses are not going to
01:38want to see that. I wonder...
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