Budget 2025: Strong Foundations, Secure Future

Budget 2025: Strong Foundations, Secure FutureThe Chancellor records a message on the 2025 Budget.

Transcript

00:00Today's budget will deliver on our promise of change, cutting the cost of living, cutting

00:04hospital waiting lists and cutting the cost of our national debt. Change was never going to come

00:09easy. It requires hard work and it requires fair choices. In the past year we have begun to see

00:16the results with wages rising faster than inflation, hospital waiting lists coming down

00:22and our economy growing faster and stronger than people expected. But I know that there is more to

00:27do. I know that the cost of living is still bearing down on family finances. I know that people feel

00:32frustrated at the pace of change or angry at the unfairness in our economy. I have to be honest

00:38that the damage done from austerity, a chaotic Brexit and the pandemic were worse than we thought.

00:44But I'm not going to duck those challenges and nor will I accept that our past must define our future.

00:50It doesn't have to. I believe and I know that a brighter future is within our grasp, a stronger

00:55Britain, a fairer Britain, a more secure Britain. So today I'm going to take the fair and the necessary

01:01choices to deliver on our promise of change. I'm not going to return Britain back to austerity,

01:06nor will I lose control of public spending, more reckless borrowing. I will take action to help

01:12families with the cost of living. We've already frozen railfares, begun rolling out free breakfast

01:17clubs and we've raised the national living wage for millions of working people. And today I will go

01:22further. I will take action to cut hospital waiting lists by protecting record investment in our NHS

01:27and tackling waste in the public sector so that your money goes towards frontline services. I will

01:33take action to cut our debt and borrowing by keeping a tight grip on the country's finances because there

01:39is nothing progressive, nothing fair about spending one in every 10 pounds of government spending just

01:45servicing the national debt. And I will push ahead with the biggest drive for growth in a generation,

01:50with investment in road, rail and energy, investment in housing, security and defence and investment

01:56in our young people in education, skills and training. This budget is for you, the British people,

02:02so that together we can build a fairer, stronger and more secure Britain.