00:00High consumer visibility, limited fiscal responsibility, in that she wants to set out quite a small package in the scope
00:07of things.
00:08We haven't seen all the details yet, but there's, say, £100 million for sort of free bus fares for children.
00:13And then, crucially, there's going to be a big pressure on businesses to try and lower their costs.
00:18There's going to be nothing forced.
00:20And so in that, if you compare it to, say, Eat Out to Help Out, which is £800 million, under
00:25Rishi Sunak,
00:27Covid's furlough scheme, £70 billion, that's the kind of big kahuna here to compare to,
00:31or this trust's energy support, £23 billion.
00:33We haven't yet seen any UK energy support from the government.
00:35That's supposed to come later in the autumn.
00:37But this is supposed to be things that consumers, voters, will see,
00:41but won't necessarily give bond markets any indigestion when looking at it.
00:46And do you think that this will cut through to voters?
00:48Because Starmer's really on the ropes here.
00:51I mean, bluntly, no, but give it a few weeks, it will take time.
00:56I think the problem with this is, take the buses.
00:58What's really interesting about the buses is Andy Burnham, the great mayor of Manchester,
01:01famously has a flat £2 cost on any bus ride.
01:04So that, in some ways, is a clear sort of push to that side of things.
01:07But so the fuel duty freeze, which is another part of these measures,
01:10the fuel duty has not gone up since the mid-2010s.
01:13So what is there for a consumer to theoretically notice?
01:16Fidelity with these voluntary business cuts, we don't know what they will be.
01:20If they were to happen, it would be surely the businesses that get the credit, not the government.
01:24So it's quite a difficult pitch, but it's clear the Chancellor's trying to say,
01:29in this era of cost-of-living inflation fixation, that she's doing something about it.
01:34OK, so this is the Starmer-Reeves attempt to fend off Starmer's other rivals.
01:40We've also heard from those rivals themselves recently, more and more policy pitches coming from them,
01:46one of them including a wealth tax that works.
01:49What's that when it's at home, James?
01:51I mean, this is fast. This is some of the former health secretary of West Streeting.
01:54And what is so interesting about this, Lizzie, is we are not having a leadership election,
01:59but we are seeing pretty radical interventions from other Labour politicians.
02:04This would be putting capital gains pegged to income tax with similar brands around it.
02:09And it's all around pitching to the Labour leadership that West Streeting,
02:12who is seen as on the right of the party, is very left-wing.
02:15We saw a similar thing earlier this week where Andy Burnham, who is seen on the left of the party
02:19and is currently running to become an MP,
02:21talked about immigration reforms put in by this government being a good idea that he'd keep.
02:25This is all trying to win over the Labour party for when this inevitable, it seems,
02:31leadership election does finally become a real thing.
02:33You do have to wonder, though, what the business-friendly policies of whatever that Labour government will be,
02:39if and when either of those two or others become a Labour leader.
02:43You do have to wonder, though.
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