0:00:07 > 0:00:09Good morning. Budget week.
0:00:09 > 0:00:11Crucial choices for the Chancellor, the government and the Tory party.
0:00:11 > 0:00:14We used to agonise about the level of public debt.
0:00:14 > 0:00:17Well it hasn't gone away - 88% of GDP - compared to around 50%
0:00:17 > 0:00:25when Denis Healey went cap in hand to the IMF in 1976.
0:00:25 > 0:00:29We're up to our eyes in debt.
0:00:29 > 0:00:32So the extra spending demanded by so much of the country -
0:00:32 > 0:00:34for welfare, pay, health, you name it - can only
0:00:34 > 0:00:38come from two places - higher taxes paid by you or yet more
0:00:38 > 0:00:44debt piled on debt.
0:01:00 > 0:01:02The Chancellor joins us this morning.
0:01:02 > 0:01:05But who is he?
0:01:05 > 0:01:09"Spreadsheet Phil" or "Handout Hammond"?
0:01:09 > 0:01:11And his opposite number, Labour's Shadow
0:01:11 > 0:01:12Chancellor John McDonnell, is demanding an emergency
0:01:12 > 0:01:15budget for Britain.
0:01:16 > 0:01:19But has this man ever seen a spending commitment he doesn't like?
0:01:29 > 0:01:31Lots of scepticism there.
0:01:31 > 0:01:33I've been talking to Tamsin Greig and Martin Freeman
0:01:33 > 0:01:37about what their West End hit has to say about politicians.
0:01:37 > 0:01:41We are in an age where understandably at times we are
0:01:41 > 0:01:45sceptic about politicians and their motives. That's fair enough, we need
0:01:45 > 0:01:49a bit of scepticism. But part of me thinks, why would anyone go into it
0:01:49 > 0:01:54if you didn't truly believe it?Why indeed?
0:01:54 > 0:01:55And reviewing the news,
0:01:55 > 0:01:57the Co-Leader of the Green Party, Caroline Lucas, the Editor
0:01:57 > 0:01:59of the Sunday Telegraph, Allister Heath, and Senior
0:01:59 > 0:02:01Political Correspondent at The Times, Lucy Fisher.
0:02:01 > 0:02:02All of that coming up shortly.
0:02:02 > 0:02:05First, the news with Naga Munchetty.
0:02:07 > 0:02:12Saint Barbara's President Robert Mugabe is expected to meet military
0:02:12 > 0:02:15commanders this morning a day after sons of thousands of protesters
0:02:15 > 0:02:18called for his resignation. -- Zimbabwe's president. Robert Mugabe
0:02:18 > 0:02:28has so far resisted calls to stand down.
0:02:28 > 0:02:30Mr Mugabe has so far resisted calls to step down.
0:02:30 > 0:02:33His party, Zanu-PF is expected to begin the formal process
0:02:33 > 0:02:36of stripping him of his role.
0:02:36 > 0:02:42Shingai Nyoka reports from Zimbabwe.
0:02:42 > 0:02:44It was the most significant event since the country's
0:02:44 > 0:02:45independence in 1980.
0:02:45 > 0:02:48The Zimbabwe defence forces told the nation that they would be
0:02:48 > 0:02:50free to march Saturday - and so they did.
0:02:50 > 0:02:53Previously, we were never allowed to walk on this road,
0:02:53 > 0:02:55because we could go past the State House, but today it's
0:02:55 > 0:02:56a different day altogether.
0:02:56 > 0:02:58The dawn of a new era.
0:02:58 > 0:03:00The military, often feared here, received a rapturous welcome
0:03:00 > 0:03:02as they monitored the protests against President Robert Mugabe's
0:03:02 > 0:03:0337 years in power.
0:03:03 > 0:03:05After being silenced for so long, the Zimbabweans have finally
0:03:05 > 0:03:07found their voice and thousands of people have poured
0:03:07 > 0:03:09out on to the streets.
0:03:09 > 0:03:11They want to pressure President Mugabe to go.
0:03:11 > 0:03:14Mr Mugabe hasn't spoken for days, but his nephew says he is prepared
0:03:14 > 0:03:18to die and will not be pushed out of power through a coup.
0:03:18 > 0:03:20But his Zanu PF supporters are already deserting him.
0:03:20 > 0:03:24They're expected to meet on Monday to strip him of his party position
0:03:24 > 0:03:27and then later in the week to remove him as head of state
0:03:27 > 0:03:30if he continues to refuse to resign.
0:03:30 > 0:03:32Critics say that this is essentially amilitary coup,
0:03:32 > 0:03:33dressed up as a people's revolution.
0:03:33 > 0:03:39But the opposition leader, Morgan Tsvangirai, disagrees.
0:03:39 > 0:03:42In the interests of the people of Zimbabwe, Mr Robert Mugabe must
0:03:42 > 0:03:44resign, step down immediately in line with the national
0:03:44 > 0:03:46sentiment and expectation, taking full regard of his legacy
0:03:46 > 0:03:56and the contribution to Zimbabwe - a free and a positive outcome.
0:04:04 > 0:04:07No one knows whether Mr Mugabe has been watching the television
0:04:07 > 0:04:09coverage of protests, but he has always said that
0:04:09 > 0:04:18if the people of Zimbabwe wanted him to go, then he would go.
0:04:18 > 0:04:22The Chancellor of the Exchequer has pledged to use Wednesday's Budget to
0:04:22 > 0:04:27help build 300,000 new homes a year. Philip Hammond has told the Sunday
0:04:27 > 0:04:31Times he will invest billions and fix planning regulations to get
0:04:31 > 0:04:35builders building. Also announce funding to put driverless cars on
0:04:35 > 0:04:37the road within four years.
0:04:37 > 0:04:40Police in Dorset say they believe they've found the body
0:04:40 > 0:04:41of missing teenager, Gaia Pope.
0:04:41 > 0:04:43The 19-year-old had not been seen for 11 days.
0:04:43 > 0:04:45Specialist search teams made the discovery on Saturday close
0:04:45 > 0:04:47to a coastal path near Swanage.
0:04:47 > 0:04:49Detectives said the death was being treated as "unexplained".
0:04:49 > 0:04:53Her family have said they are "absolutely devastated".
0:04:53 > 0:04:56The Queen and Prince Philip will celebrate their 70th wedding
0:04:56 > 0:04:57anniversary tomorrow.
0:04:57 > 0:04:58To mark the milestone, Buckingham Palace have
0:04:58 > 0:04:59released this new portrait.
0:04:59 > 0:05:02They are the first royal couple to celebrate their
0:05:02 > 0:05:07platinum anniversary.
0:05:07 > 0:05:08That's all from me.
0:05:08 > 0:05:10The next news on BBC One is at ten o'clock.
0:05:10 > 0:05:11Back to you, Andrew.
0:05:11 > 0:05:16Thank you.
0:05:16 > 0:05:21Robert Mugabe has not gone. To many people he's been hanging around
0:05:21 > 0:05:24interminably on the threshold. That presents problems for all of the
0:05:24 > 0:05:29media, newspapers included, the Observer has the story, joyous crowd
0:05:29 > 0:05:34from Harare as Mugabe era nears the end, they say. The Sunday
0:05:34 > 0:05:35from Harare as Mugabe era nears the end, they say. The Sunday Telegraph
0:05:35 > 0:05:41has a big Philip Hammond story, the Budget pay boost for nurses it says.
0:05:41 > 0:05:43The Royal College of nurses already welcoming that but we will talk
0:05:43 > 0:05:47about that with that editor shortly. The Sunday Times has a terrible
0:05:47 > 0:05:51picture of the chance the scratching his head and gardening at a paper.
0:05:51 > 0:05:55They have an interview with him inside and he is promising to build
0:05:55 > 0:06:01300,000 homes per year and much more inside. -- gurning at a paper. Fear
0:06:01 > 0:06:10has gone as people turn on "Thief" Mugabe. And the very sad story, the
0:06:10 > 0:06:18Gaia Pope story, talking about that body being found. The Mail on Sunday
0:06:18 > 0:06:27doing its best to cheer you up, junk Labour MP in berserk Brexit fracas.
0:06:27 > 0:06:31That says it all, we probably won't talk about that. Are we going to
0:06:31 > 0:06:37talk about the Budget?I think Lucy was starting.I beg your
0:06:37 > 0:06:38talk about the Budget?I think Lucy was starting.I beg your pardon. A
0:06:38 > 0:06:42lengthy interview by Tim Shipman, your colleague with the Chancellor.
0:06:42 > 0:06:45An anti-war whole set of photographs. A more colourful
0:06:45 > 0:06:47interview perhaps with the Chancellor than we have had for a
0:06:47 > 0:06:55long time.It is. He rejects the characterisation as an aeon. He
0:06:55 > 0:07:00seems to grasp the problems he is facing. He talks about the need to
0:07:00 > 0:07:05tell a story about Britain, about a vision post Brexit, what the country
0:07:05 > 0:07:09will look like. But he was asked to describe himself as he chose the
0:07:09 > 0:07:15word fiscal. He also talks about fiscal responsibility. Does not
0:07:15 > 0:07:19leave him much manoeuvring room.The basic criticism from Tories of him
0:07:19 > 0:07:23is that this Budget has to be a big moment, it must be a turning point
0:07:23 > 0:07:26for the party. They have to be excited, energised, and that isn't
0:07:26 > 0:07:33his strong point.It's not. His party wants that. Labour has this
0:07:33 > 0:07:37electoral momentum. There is the sense that the public is weary with
0:07:37 > 0:07:43austerity. But at the same time as you mentioned in your introduction,
0:07:43 > 0:07:46debt remains at 80%. We have falling consumer spending. Brexit
0:07:46 > 0:07:52uncertainty. He must prove he can keep a grip on public finances.This
0:07:52 > 0:07:57cannot be a hand-out Budget. It can't be a fiscal relaxation, can
0:07:57 > 0:08:02it?No, and I don't think it will be. Something important will happen.
0:08:02 > 0:08:06A key play for austerity is going to be entered. We are going to see more
0:08:06 > 0:08:09movement on public sector pay. Our big story in the Sunday Telegraph is
0:08:09 > 0:08:14about Hammond finally starting to increase pay for nurses. There is
0:08:14 > 0:08:18going to be a committee set up which will review what they think nurses
0:08:18 > 0:08:22should get. Hammond is going to say there will be money set aside for
0:08:22 > 0:08:26that. If pay were to go up by 3%, for nurses that would cost an extra
0:08:26 > 0:08:31£1 billion. That is more new money for the NHS. Hammond is being
0:08:31 > 0:08:35buffeted from all sides. From the left various Jeremy Corbyn, on the
0:08:35 > 0:08:41right the free-market Brexiteers. And they want a lot of movement on
0:08:41 > 0:08:44housing and tax, the free-market Brexiteers. But on the left you have
0:08:44 > 0:08:48Jeremy Corbyn and people who are wary of getting pay rises, that kind
0:08:48 > 0:08:54of stuff.You have selected public sector pay as an issue of movement.
0:08:54 > 0:08:58In his interview he said we must do something about this, people have
0:08:58 > 0:09:02been waiting years for austerity, it's time to change. And he is
0:09:02 > 0:09:06signalling that change.Yes, we went on that because it's an interesting
0:09:06 > 0:09:10story. So is housing. But we already know they want to move on that. But
0:09:10 > 0:09:17this is a shift, on pay. One of the key planks of George Osborne's
0:09:17 > 0:09:22strategy, let's reduce public spending in part by freezing public
0:09:22 > 0:09:29sector pay. This is just going on and on.Caroline Lucas, there are
0:09:29 > 0:09:32many things and Budget can do in terms of changing the direction of
0:09:32 > 0:09:36the country. You have chosen John Prescott in their Sunday Mirror.
0:09:36 > 0:09:41Calling for more on climate change. A quick word first on public sector
0:09:41 > 0:09:43pay. I think it's extraordinary it's taken this long for the government
0:09:43 > 0:09:49to barge on this. Really our public sector is in such crisis. A quarter
0:09:49 > 0:09:54of nurses having to find second jobs just to make ends meet. We need the
0:09:54 > 0:09:58funds into public services. John Prescott is talking about the fact
0:09:58 > 0:10:04we need to have a Budget for climate change. He is talking about the
0:10:04 > 0:10:08importance of the office of budgetary responsibility. Factoring
0:10:08 > 0:10:11in the cost of climate change in the future. He is saying that the costs
0:10:11 > 0:10:17of climate change could be around £75 billion per year by 2050. It is
0:10:17 > 0:10:21welcome he's talking about that. What we also need is a Budget that
0:10:21 > 0:10:23not only factors in the costs of climate change to the economy over
0:10:23 > 0:10:27time, but has measures in the Budget that will bring our emissions down.
0:10:27 > 0:10:34I've not seen much about that yet. Can ask you about the Green party's
0:10:34 > 0:10:37view on electric cars. -- can I ask you. We are supposed to have them
0:10:37 > 0:10:42all over the country or charging points. Is that good or bad for the
0:10:42 > 0:10:48environment?As long as the from renewable energy, that is more
0:10:48 > 0:10:51positive than it coming from fossil fuels. What we would also like to
0:10:51 > 0:10:55see is more investment in public transport. We shouldn't keep having
0:10:55 > 0:10:58our towns and cities organised around the assumption that everybody
0:10:58 > 0:11:03is going to be driving a car on their own. What we also need to see
0:11:03 > 0:11:07in the Budget is a massive investment in insulating peoples
0:11:07 > 0:11:10homes. That would be one of the fastest ways of getting people back
0:11:10 > 0:11:15to work.Using less electricity? Yes, in the first place. A slightly
0:11:15 > 0:11:21concerning story in the Sunday Times, builders cheat homeowners on
0:11:21 > 0:11:26energy test. We've already had the VW cheating, now cheating on whether
0:11:26 > 0:11:30people's homes are energy efficient. Let's turn to the other side of the
0:11:30 > 0:11:33political spectrum. John McDonnell giving an interview to the Observer,
0:11:33 > 0:11:38I think. It is under there somewhere... There he is. It's
0:11:38 > 0:11:43clearly wants a massive public spending boost. The weird thing is,
0:11:43 > 0:11:46at the moment, you would think the Labour Party would be way ahead in
0:11:46 > 0:11:50the polls but they are not. Is that because of scepticism about the
0:11:50 > 0:11:54Labour spending plan?That could well be the case. I think it would
0:11:54 > 0:12:01be the case. 42% conservatives, 40% Labour. Slightly ahead. Labour
0:12:01 > 0:12:07haven't been able to bridge that barrier. There was a lot of
0:12:07 > 0:12:15uncertainty around the 's spending plans of labour. It wasn't clear
0:12:15 > 0:12:24that Labour could bring in as much as they say.The sense of
0:12:24 > 0:12:29self-confidence, I suppose, from John McDonnell and Jeremy Corbyn has
0:12:29 > 0:12:32been much stronger since the election.I think that's right.
0:12:32 > 0:12:35There is a sense in Westminster that they are on the front foot,
0:12:35 > 0:12:40projecting confidence, as you say. It's interesting to see John
0:12:40 > 0:12:43McDonnell, one of his weaknesses traditionally since he has been
0:12:43 > 0:12:48Shadow Chancellor has been a slightly cold exterior, that's the
0:12:48 > 0:12:51impression in the public. But in here he seems to come across a lot
0:12:51 > 0:13:00warmer. He talks about going saving in Norfolk -- sailing in Norfolk
0:13:00 > 0:13:07with his wife, and the boat is called Morning Star.We haven't
0:13:07 > 0:13:11mentioned the P word at all, but you talk about an interview with Priti
0:13:11 > 0:13:22Patel. -- B word.It is a very Priti Patel peace.What does that mean?
0:13:22 > 0:13:29CHUCKLES It is very much like Thatcher. Very
0:13:29 > 0:13:35Pro-leave. Talking about growth, all of that type of thing. There is a
0:13:35 > 0:13:40line where she asks the chance to be more visionary. That's the big issue
0:13:40 > 0:13:42in his Budget. We've been talking about pay and housing but there's a
0:13:42 > 0:13:48lot of demand for the Chancellor to be visionary, to start to fight back
0:13:48 > 0:13:52on Labour's territory, which is to inspire people to say, look, if you
0:13:52 > 0:13:56vote for us, keep us in power, we will change the country for the
0:13:56 > 0:14:04better. We will be radical.He was on one side of the Brexit argument.
0:14:04 > 0:14:07And getting the confidence from the Brexiteers.It's not just about
0:14:07 > 0:14:12Brexit. It is about building a country fit for it. We don't know
0:14:12 > 0:14:15what the negotiations are going to lead to so we need to be prepared.
0:14:15 > 0:14:19But it's more about vision. If politics is only about accounting
0:14:19 > 0:14:23and detail than people are not inspired. At the referendum people
0:14:23 > 0:14:28became inspired. On either side of the debate. We needed it more of
0:14:28 > 0:14:35that. I think that is what Priti is getting at.You've got a tablet, I
0:14:35 > 0:14:41don't want to call it anything else, for your next story.May I take a
0:14:41 > 0:14:44couple of seconds...You can have two.
0:14:44 > 0:14:47CHUCKLES Martin Donnelly, in the Observer, on
0:14:47 > 0:14:54Brexit. He was the adviser to Liam Fox before the international trade
0:14:54 > 0:14:59department headline which shouldn't even be contemplating leaving the
0:14:59 > 0:15:02market. He's talking about the costs of Brexit. But it made me think
0:15:02 > 0:15:08about that quote from David Davis, lecturing the Germans, saying we
0:15:08 > 0:15:12shouldn't put politics before prosperity. To say irony is that,
0:15:12 > 0:15:16it's belied by that statement. Because if he hasn't been doing that
0:15:16 > 0:15:20himself the last few months I don't know what he has been doing.It's
0:15:20 > 0:15:24interesting how many former civil servants, who are always supposedly
0:15:24 > 0:15:29impartial, entering this debate.He has left.Yes, so he can say what he
0:15:29 > 0:15:32wants now. But this perception that civil servants are united against
0:15:32 > 0:15:37Brexit is only reinforced when we see this kind of article.There are
0:15:37 > 0:15:43plenty of other examples.
0:15:43 > 0:15:48We have the Herald Zimbabwe and euphoric scenes as people demand
0:15:48 > 0:15:54Robert Mugabe stand down. It strikes me these images are of such hopeful
0:15:54 > 0:15:59excited people and one can only hope that their aspirations will be met.
0:15:59 > 0:16:05Because the fear that is Robert Mugabe gets replaced by his
0:16:05 > 0:16:12vice-president, who doesn't sound like an improve, thecrocodile. I
0:16:12 > 0:16:23love the nick names, we have two expletive deleted, and gown with
0:16:23 > 0:16:31shenanigans. Driver-less cars will be part of budget story and this is
0:16:31 > 0:16:36something the Government have been preparing for and Jeremy Clarkson
0:16:36 > 0:16:45against the idea.It couldn't be worse timing when Philip Hammond
0:16:45 > 0:16:49announcing funding for driverless cars, Jeremy Clarkson to say he
0:16:49 > 0:16:54almost died in a driverless car when filming his show. He says that t
0:16:54 > 0:17:00technology is a long way off.He may have been doing things in his
0:17:00 > 0:17:04driverless car that most people wouldn't be doing. Taking it places.
0:17:04 > 0:17:10He claimed it was the M4.The future of driving shows is also
0:17:10 > 0:17:18questionable.That is the worry about driverless things and Jeremy
0:17:18 > 0:17:23Clarkson will be out of a job.As long as we don't go to driverless
0:17:23 > 0:17:26political programmes.
0:17:26 > 0:17:27And so to the weather.
0:17:27 > 0:17:28Proper winter.
0:17:28 > 0:17:30We're even apparently going to be promised snow -
0:17:30 > 0:17:33I don't suppose for the soft South, but maybe for the rest of you.
0:17:33 > 0:17:35Over to Philip Avery in the weather studio.
0:17:35 > 0:17:37Over to Philip Avery in the weather studio.
0:17:37 > 0:17:44You're on your own with the soft southerner description. A chilly
0:17:44 > 0:17:50start this morning under the clear skies. Beautifully caught as ever by
0:17:50 > 0:17:53our weather watchers in central and eastern parts. Wasn't like it out
0:17:53 > 0:17:58west. You were closer to this warm front and got enough about it with
0:17:58 > 0:18:05that cloud for some rain already. Essentially it is a dry day for M as
0:18:05 > 0:18:11we get into the afternoon, it stays chilly and the sunshine is tempered
0:18:11 > 0:18:17as the cloud moves in. There is the snow, high ground above the central
0:18:17 > 0:18:23belt, above 200 metres and that snow level rising as we import mild air.
0:18:23 > 0:18:29But it is a dull start on Monday and wet for many of us. That is the
0:18:29 > 0:18:34extent of snow for the next few days. Once the heavy rain moves off
0:18:34 > 0:18:40into the North Sea we are left with a lot of cloud. Any good news? Yes,
0:18:40 > 0:18:46it is mild. 11 to 13. But for Scotland seven to nine and here is
0:18:46 > 0:18:51the thing - wet and windy. Mild with the wind in the south-west. It turns
0:18:51 > 0:18:55colder from Friday on to this time next week end. Thank you.
0:18:55 > 0:18:58colder from Friday on to this time next week end. Thank you.
0:18:58 > 0:19:00Labour's Shadow Chancellor, John McDonnell, has already demanded
0:19:00 > 0:19:03an £17 billion emergency budget for NHS, social care, schools
0:19:03 > 0:19:04and local government.
0:19:04 > 0:19:06Trouble is, as I said at the beginning, we're up
0:19:06 > 0:19:07to our eyes in debt.
0:19:07 > 0:19:10Can extra spending from Labour really just come from a few
0:19:10 > 0:19:14offshore hedgefunds?
0:19:14 > 0:19:18I'm joined by Mr McDonnell now. Something weird is happening in
0:19:18 > 0:19:23politics, the Government are not having a happy time, and yet your
0:19:23 > 0:19:27not way ahead in the polls. You're level pegging. Why do you think it
0:19:27 > 0:19:34is happening?It is the usual thing. With an incumbent Government,
0:19:34 > 0:19:41they're usually ahead unless there is a crisis. If you look on economic
0:19:41 > 0:19:47credibility, we are behind.Quite a way behind.12 months ago we were 28
0:19:47 > 0:19:52points behind. So we are narrowing the gap. We are trying to have a
0:19:52 > 0:19:56serious debate in advance of budget and demonstrate we have the vision
0:19:56 > 0:20:03and the plans.You want an emergency budget, tell us about what you want
0:20:03 > 0:20:10as an emergency budget and why?If we had been elected I had published
0:20:10 > 0:20:17the costing of our, the grey book. Dark blue tie, grey book.That set
0:20:17 > 0:20:22out our plans. I have said to him the messages from our public service
0:20:22 > 0:20:29and those who are suffering from universal credit is hitting people
0:20:29 > 0:20:33hard and NHS the Chief Executive said if we don't get more investment
0:20:33 > 0:20:40there will be five million on the waiting list. In terms of what is
0:20:40 > 0:20:44happening to education, 5,000 head teachers saying halt the cuts. What
0:20:44 > 0:20:48we have said is there is a range of things that they are asking for that
0:20:48 > 0:20:55we covered in our manifesto that he could fund not through borrowing,
0:20:55 > 0:20:59because o fiscal rules said you can only borrow to invest. So what we
0:20:59 > 0:21:03said is end the tax cuts to the corporations first of all. That is
0:21:03 > 0:21:08the first thing. And over the lifetime of the Parliament 76
0:21:08 > 0:21:15billion paid out.That will hit corporate profits and employment.
0:21:15 > 0:21:19What has happened is the Government has been cutting corporation tax.
0:21:19 > 0:21:23That has meant that earned income by the corporations has been stacked up
0:21:23 > 0:21:29and not invested we know the figures lchsYou want to force corporations
0:21:29 > 0:21:33to reinvest money?Stop giving cuts to the rich and recognise you have
0:21:33 > 0:21:38got an emergency out there in term of public services, invest it in
0:21:38 > 0:21:45those.This message has not quite cut through to the public. Could I
0:21:45 > 0:21:49put it the reason that people understand we are overborrowed and
0:21:49 > 0:21:53they look at your plans and it is more money here and there and it is
0:21:53 > 0:22:00too much.That is why I'm saying we mustn't borrow for day-to-day
0:22:00 > 0:22:09expenditure. But to investment. It is not just me saying that, you have
0:22:09 > 0:22:13you had a cabinet minister saying interest rates are so low that now
0:22:13 > 0:22:18is the time to borrow for investment and I I degree.But they are going
0:22:18 > 0:22:29up. I want to ask you some questions I have asked before, you have an
0:22:29 > 0:22:31ambitious programme of nationalisation, how much is that
0:22:31 > 0:22:35going to cost?What we have said and this is very clear cut, and I have
0:22:35 > 0:22:41said it before, when you take...I'm looking for numbers.You don't need
0:22:41 > 0:22:46a number. You swap shares for Government bonds and that is covered
0:22:46 > 0:22:52by the cost of those profitable industry.But it is still borrowing.
0:22:52 > 0:22:59It will be Parliament that sets the price on those. The cost is always
0:22:59 > 0:23:03covered because these are profitable industries and that will cover the
0:23:03 > 0:23:08cost of borrowing.That may be the case but at the start, I am saying,
0:23:08 > 0:23:11how much will taxpayers have to spend to re-nationalise the
0:23:11 > 0:23:17industries?There will not be a burden on taxpayers. The price will
0:23:17 > 0:23:20be set by Parliament, government bonds will be issued and any cost
0:23:20 > 0:23:26will be covered by the income from the industries. What we think and it
0:23:26 > 0:23:34not just us saying this...It sounds like a magic card trick.It isn't it
0:23:34 > 0:23:41has been done across Europe. In Paris water has been brought back
0:23:41 > 0:23:45into public ownership. Because people think they have been ripped
0:23:45 > 0:23:54off.What about bringing PFI back into public ownership ship. No cost?
0:23:54 > 0:23:58There is £200 billion committed to PFI, we think the costs are too
0:23:58 > 0:24:04heavy and we will review the PFI schemes and go through them and we
0:24:04 > 0:24:08will do deals on bringing them back. This is a big promise that you have
0:24:08 > 0:24:14made and you must have some sense of the up front cost.Again, when you
0:24:14 > 0:24:22bring them back, you will make a saving, because you're not paying
0:24:22 > 0:24:26out the extents, expense for those companies.You have to buy out the
0:24:26 > 0:24:30contracts. That will cost money. Over the life of the contracts the
0:24:30 > 0:24:36savings will pay for it. What we will do is go through each scheme
0:24:36 > 0:24:43and there will be consultation and not only will we get a better deal
0:24:43 > 0:24:46financially.As with the nationalisation, you can't give me a
0:24:46 > 0:24:52number. Can I give you one last number, all your planning is based
0:24:52 > 0:24:56you spend and invest a lot and as a result the economy grows faster and
0:24:56 > 0:25:01because the economy is growing, you get more taxes and everything
0:25:01 > 0:25:05balances, by how much does the economy need to go?People need to
0:25:05 > 0:25:11understand what we're saying. A lot of figures have been bandied around.
0:25:11 > 0:25:18What we are saying is we invest 250 billion pounds over a ten year
0:25:18 > 0:25:23programme, so about 25 billion a year, this is nothing untoward, what
0:25:23 > 0:25:31past governments have done. If we don't do this, we are not keeping up
0:25:31 > 0:25:36our competitors, that will bring a return...This is eye watering sums,
0:25:36 > 0:25:46250 billion.Over a ten year period. If we don't, we won't keep up with
0:25:46 > 0:25:51our competitors. You know as well as I, when you invest those sums, look
0:25:51 > 0:25:56at the reports by PWC, you get a return on that that covers the cost
0:25:56 > 0:26:01of borrowing.Fit is well invested. That is why I say at the conference,
0:26:01 > 0:26:06we are setting up a strategic investment board to bring together
0:26:06 > 0:26:12myself the Secretary of State for business, the governor of the Bank
0:26:12 > 0:26:16of England and that will get the best deal and more importantly we
0:26:16 > 0:26:27will be able to compete in a global market.You have been a bit of an
0:26:27 > 0:26:30Eeyore about the economy. By how much does the economy for this to
0:26:30 > 0:26:36work this plan to work, by how much does it the economy need to grow.It
0:26:36 > 0:26:39is not the economy growing, it is the individual investments and the
0:26:39 > 0:26:44return we get. On those returns you always get if you invest wisely, you
0:26:44 > 0:26:50will get more than you have to pay out.I am just wanting one little
0:26:50 > 0:26:55number.You're asking the wrong question in terms of growth. It is
0:26:55 > 0:27:00about individual investments. 250 billion we are putting in through
0:27:00 > 0:27:04our investment through mainstream programmes and setting up and this
0:27:04 > 0:27:09has been supported in a range of commentators, a national investment
0:27:09 > 0:27:13bank to bring in 250 from the private sector and asset managers
0:27:13 > 0:27:17are saying to me, these are confidential discussions, but
0:27:17 > 0:27:22they're saying that they're welcoming our stable investment
0:27:22 > 0:27:24programmes, in terms of what we are suggesting for the public and
0:27:24 > 0:27:29private.People are listening to you saying there is John McDonnell with
0:27:29 > 0:27:34a Tory dark blue tie and a white shirt, his grey book and he spends
0:27:34 > 0:27:38his time hanging around with asset managers, but they're still not
0:27:38 > 0:27:46convinced, maybe because you have so gloomy about the economy. You have
0:27:46 > 0:27:52said three times we were heading for recession and it has not happened.I
0:27:52 > 0:27:59didn't say depression. I said if we are not careful that is what
0:27:59 > 0:28:06happens. But for many people out there, for many people out there,
0:28:06 > 0:28:10this is a depression. People's wages have been cut by 10%. Nurses for
0:28:10 > 0:28:16example. We have had people who are now one and a quarter million food
0:28:16 > 0:28:19parcels handed out in the sixth richest country in the world. That
0:28:19 > 0:28:24is what I call a recession for large numbers of people and this
0:28:24 > 0:28:28government is giving tax cuts to the superrich and corporations. That is
0:28:28 > 0:28:32the difference that we have, the grotesque inequality in society.
0:28:32 > 0:28:37There are a lot of dark shadows across the economy, but all over the
0:28:37 > 0:28:41happiness index has gone to the highest level since 2011, that is
0:28:41 > 0:28:46bizarre from your point of view. People are happier.Go and say that,
0:28:46 > 0:28:54ask Philip Hammond this, when did he last viz ate a food bank.That is a
0:28:54 > 0:28:59different question.I'm talking about the levels of insecurity in
0:28:59 > 0:29:04society, for the first time, I will quote opinion polls, we have people
0:29:04 > 0:29:08say of all generations for the next generation it will be worse for
0:29:08 > 0:29:13them. When I was young we thought there would be a steady increase
0:29:13 > 0:29:17that no longer applies, because young people can't expect even the
0:29:17 > 0:29:21same living standards as their parents.A requirement I must ask
0:29:21 > 0:29:27you about Brexit and we have had a lot of difficult talks, one of the
0:29:27 > 0:29:30issues the Irish Taoiseach raised is what happens to the boarder in
0:29:30 > 0:29:38Northern Ireland. It seeps that there are the -- it seems there are
0:29:38 > 0:29:42two choice, either all of Ireland stay in the custom union, or there
0:29:42 > 0:29:46will be a real tough border between Northern Ireland and southern
0:29:46 > 0:29:52Ireland on which side of that argument do you feel.Bringing back
0:29:52 > 0:29:55a hard border would be a nightmare and wouldn't be practical. We have
0:29:55 > 0:30:01to... Have a relationship which is as close to customs union as we can.
0:30:01 > 0:30:06I would not want to see anything, anything, that undermines the peace
0:30:06 > 0:30:10process in particular and all the that gains that we have had and the
0:30:10 > 0:30:13hard border would undermine that relationship that has been built up
0:30:13 > 0:30:21between north and south.
0:30:21 > 0:30:29You would not have any principle objection with Ireland's staying in
0:30:29 > 0:30:33the customs union.We're not saying the customs union, but a customs
0:30:33 > 0:30:38union.A unique relationship, you think?Those are the negotiations we
0:30:38 > 0:30:42must take. But we must make sure that we don't go backwards on this.
0:30:42 > 0:30:47We mustn't jeopardise the peace process in any way.You have spent
0:30:47 > 0:30:54your entire career believing in a united Ireland.The Irish people
0:30:54 > 0:31:01will decide whether or not their future, it won't be to the EU or us,
0:31:01 > 0:31:05it will be to the Irish.But a separate economy?That is a separate
0:31:05 > 0:31:10issue. The key issue is to make sure there isn't an arrangement that does
0:31:10 > 0:31:13not affect the economy 's North or cells, and also that it doesn't
0:31:13 > 0:31:17undermine all of the goodwill that has happened in order to get the
0:31:17 > 0:31:18peace process.Thank you very much.
0:31:18 > 0:31:21Coming up later this morning on the Sunday Politics, Sarah Smith
0:31:21 > 0:31:23will be talking about Brexit and the Budget with
0:31:23 > 0:31:25Conservative Party darling Jacob Rees Mogg, and Gisela Stuart
0:31:25 > 0:31:28and Alastair Campbell will be debating the impact of Brexit -
0:31:28 > 0:31:31that's the Sunday Politics at 11 here on BBC One.
0:31:31 > 0:31:34Having dramatised the Murdoch takeover of The Sun in "Ink"
0:31:34 > 0:31:36and parliamentary manoeuvring in "This House", the writer
0:31:36 > 0:31:39James Graham is having another big moment in London's West End.
0:31:39 > 0:31:41His new play, "Labour of Love", teams
0:31:41 > 0:31:44Martin Freeman and Tamsin Greig as a Northern MP and his
0:31:44 > 0:31:45constituency agent in a safe Labour seat.
0:31:45 > 0:31:48It's a comedy that has many serious things to say about modern politics.
0:31:48 > 0:31:51When we met, Martin Freeman told me why, personally,
0:31:51 > 0:32:01he's a fan of people who go into politics for a living.
0:32:01 > 0:32:03I was already pretty admiring of politicians and the amount
0:32:03 > 0:32:07of time they give to their job and give to their communities -
0:32:07 > 0:32:11if they're doing it well.
0:32:11 > 0:32:18And this is just sort of crystalised this for me.
0:32:18 > 0:32:21It takes a certain kind of heroic attitude I think to take that
0:32:21 > 0:32:23much stick all the time, potentially all the time.
0:32:23 > 0:32:25We're in an age where, understandably sometimes,
0:32:25 > 0:32:27we are sceptical about politicians and their motives and
0:32:27 > 0:32:28that's fair enough.
0:32:28 > 0:32:32We need a bit of scepticism.
0:32:32 > 0:32:35But part of me just thinks, why would anyone go into it
0:32:35 > 0:32:36if you didn't truly believe it?
0:32:36 > 0:32:38What makes you get up in the morning?
0:32:38 > 0:32:42It's not untold wealth, it's not untold riches.
0:32:42 > 0:32:45So as much as you might be social climbers or in it for slightly
0:32:45 > 0:32:48awkward political reasons, actually if your heart is not
0:32:48 > 0:32:53with the constituents, because you're a representative,
0:32:53 > 0:32:55you're not there to be an up-and-coming MP,
0:32:55 > 0:33:03you're there to be the mouthpiece.
0:33:03 > 0:33:06She is very clear when she says this is what you need to be
0:33:06 > 0:33:08as a member of Parliament, she says, I know you're
0:33:08 > 0:33:11there at Westminster four days a week and here only Friday,
0:33:11 > 0:33:14but it's the work you do here that gets you re-elected back there.
0:33:14 > 0:33:17Would you agree with Martin that this is in the end a kind
0:33:17 > 0:33:18of anti-cynicism play?
0:33:18 > 0:33:24I think it's a political love story that asks the two sides,
0:33:24 > 0:33:26the extreme sides of the party to kiss and make up.
0:33:26 > 0:33:27It is the alliance...
0:33:27 > 0:33:28Fat chance of that!
0:33:28 > 0:33:31We do kiss and make up in the end.
0:33:31 > 0:33:33We do in ours, yes, I guess in our idealised version
0:33:33 > 0:33:36of the Labour Party, we do kiss and make up.
0:33:36 > 0:33:38I think since I'm in my 40s and I have been interested
0:33:38 > 0:33:42in the Labour Party all my life really and so I have always been
0:33:42 > 0:33:45used to this thing of the left hates the other part of the left more
0:33:45 > 0:33:52than it hates the right and so I'm very familiar with that.
0:33:52 > 0:33:55And you have been almost, not a spokesman for the Labour Party,
0:33:55 > 0:33:57but you have been, you engage directly in Labour campaigns
0:33:57 > 0:34:05yourself as a non-actor, as a private citizen.
0:34:05 > 0:34:09Yes, and to be...
0:34:09 > 0:34:11Full disclosure, I was only asked because I am an actor,
0:34:11 > 0:34:14but, yes, of my own volition. You know, that happens
0:34:14 > 0:34:15to be my team.
0:34:15 > 0:34:18I could tell you the Tories will take us on a rollercoaster of cuts,
0:34:18 > 0:34:21while Labour will make sure the economy works for all of us,
0:34:21 > 0:34:24not just the privileged few like me, but it's not just about that.
0:34:24 > 0:34:27And you were quite keen on Corbyn you quite like Jeremy Corbyn
0:34:27 > 0:34:29as a man, don't you?
0:34:29 > 0:34:37Yes, I think genuinely, I think most people do.
0:34:37 > 0:34:40There is a lot of Tories who quite like Jeremy Corbyn,
0:34:40 > 0:34:43or think of him as a decent person, they can get their head around that.
0:34:43 > 0:34:47No, I voted for him, I voted for him and I would vote
0:34:47 > 0:34:50for him as the leader of the party, but then I would vote for
0:34:50 > 0:34:52you as the leader of the party...
0:34:52 > 0:34:53Me?
0:34:53 > 0:34:54Yeah.
0:34:54 > 0:34:55Because it's my team.
0:34:55 > 0:34:56Aw!
0:34:56 > 0:34:58I thought you were going to vote for him.
0:34:58 > 0:34:59Him, no.
0:34:59 > 0:35:01No, I would vote for him as well.
0:35:01 > 0:35:02I'm not in any party.
0:35:02 > 0:35:03It's obvious yes.
0:35:03 > 0:35:04Bloody commie!
0:35:04 > 0:35:07This play is the first time I've ever seen or read
0:35:07 > 0:35:08something presented, a passionate argument
0:35:08 > 0:35:09for the centre.
0:35:09 > 0:35:12Because the centre is usually seen as a cop-out, or just as a weakness
0:35:12 > 0:35:15or something that is like a weak cup of tea or something,
0:35:15 > 0:35:18just not anyone's real flavour, or it is careerist or something.
0:35:18 > 0:35:20James Graham's words that I'm lucky enough to speak
0:35:20 > 0:35:23at the beginning of Act 2, where my character puts out
0:35:23 > 0:35:26a philosophy for not why the centre is maybe the best of the bad,
0:35:26 > 0:35:29but actually can work and can serve the country and can
0:35:29 > 0:35:30serve communities best.
0:35:30 > 0:35:32Someone needs to write that speech for real
0:35:32 > 0:35:33at the conference and someone...
0:35:33 > 0:35:35And deliver it well.
0:35:35 > 0:35:38And you have had politicians who can deliver it well
0:35:38 > 0:35:39coming in to see the play.
0:35:39 > 0:35:41You have had Peter Mandelson lots...
0:35:41 > 0:35:44Hattersley was in the other night.
0:35:44 > 0:35:47Did any of them come behind the scenes and tell
0:35:47 > 0:35:48you what they think of it?
0:35:48 > 0:35:49Mandelson did, obviously.
0:35:49 > 0:35:52What did he think of it?
0:35:52 > 0:35:54Mandelson was interested in whether we talked
0:35:54 > 0:35:57about him in the play, because he was in that night.
0:35:57 > 0:36:00Which I thought was an interesting...
0:36:00 > 0:36:02I said, yeah, whenever we know someone is well known,
0:36:02 > 0:36:06we put a bit in for them to thank them for being there!
0:36:06 > 0:36:07Which was very funny and sweet.
0:36:07 > 0:36:09I think he really liked it.
0:36:09 > 0:36:13It was quite close to home.
0:36:13 > 0:36:16But I think people are very excited about the fact that this centrist
0:36:16 > 0:36:18argument has an airing, this story seems to be
0:36:18 > 0:36:26something that is necessary to be heard right now.
0:36:26 > 0:36:29Great having you both on the stage here, but you do lots of other work.
0:36:29 > 0:36:32You have this extraordinary film, Black Panther, coming out.
0:36:32 > 0:36:35Tell us about this, this is a Marvel comic,
0:36:35 > 0:36:38but it was produced in the '60s at the time of the real
0:36:38 > 0:36:41Black Panthers were on the move and Marvel felt all of our
0:36:41 > 0:36:43superheroes are white, we need to change that,
0:36:43 > 0:36:46so how do you fit in as a white man into basically a black film?
0:36:46 > 0:36:49I think as a matter of historical fact, I think that
0:36:49 > 0:36:51Marvel's Black Panther strip or comic appeared,
0:36:51 > 0:36:54because both that and the party happened in '66 and I think
0:36:54 > 0:36:56the comic happened first.
0:36:56 > 0:36:59I think the comic happened earlier in '66.
0:36:59 > 0:37:01So they took the name from the comic?
0:37:01 > 0:37:04I'm assuming that would have been some sort of cultural reference,
0:37:04 > 0:37:07because it was in the air at the time.
0:37:07 > 0:37:10Myself and Andy Serkis have been referred to as the token white guys,
0:37:10 > 0:37:17because we were both in The Hobbit and Lord of the Rings, so, yeah,
0:37:17 > 0:37:23we are holding up the white end in Black Panther.
0:37:23 > 0:37:24-- Tolkein white guys.
0:37:24 > 0:37:26You are the ethnic minority.
0:37:26 > 0:37:28Yes, I'm the government guy, I'm a CIA guy called Everitt Ross,
0:37:28 > 0:37:31who again was a character in the comics as well,
0:37:31 > 0:37:34and who sort of has an uneasy peace to the Black Panthers and he goes,
0:37:34 > 0:37:37my character goes on a strange journey and a enlightening journey
0:37:37 > 0:37:38to a fictional African country.
0:37:38 > 0:37:43It is really good.
0:37:43 > 0:37:45What is next for you, Tamsin?
0:37:45 > 0:37:47I'm going to do some more Friday Night Dinners,
0:37:47 > 0:37:52the final series that we are shooting from January.
0:37:52 > 0:37:54So that will be on and then the Dinners are done.
0:37:54 > 0:37:55And we will see.
0:37:55 > 0:37:58I'm very excited to see what the television industry
0:37:58 > 0:38:01are going to do with women of my age, because this is really
0:38:01 > 0:38:03fertile ground now to just see how imaginative writers
0:38:03 > 0:38:05and producers can be.
0:38:05 > 0:38:07Writers and producers - there is your challenge!
0:38:07 > 0:38:12Thank you very much indeed.
0:38:14 > 0:38:16And "Labour of Love" is at the Noel Coward Theatre
0:38:16 > 0:38:18in London's West End.
0:38:18 > 0:38:20It's just a few doors up from where the same writer
0:38:20 > 0:38:23James Graham's other big new play, "Ink" is currently playing.
0:38:23 > 0:38:26I predict that we'll hear lots more from him in the future.
0:38:26 > 0:38:29The Budget is a chance for a Government which has been
0:38:29 > 0:38:31in deep trouble to wrestle back the political initiative.
0:38:31 > 0:38:32But some Tories wonder whether Philip Hammond
0:38:32 > 0:38:34is the right man for the job.
0:38:34 > 0:38:36Nick Timothy, Theresa May's former chief of staff,
0:38:36 > 0:38:39launched a scathing attack on him this week, saying "The Chancellor
0:38:39 > 0:38:41lacks a burning desire to change people's lives for the better."
0:38:41 > 0:38:51Philip Hammond joins me now.
0:38:51 > 0:38:55That's not just Nick Timothy, is it, lots of Tories think you are good on
0:38:55 > 0:39:00the numbers but lousy when it comes to the big politics.Nobody would be
0:39:00 > 0:39:04in politics if they didn't have a desire to change peoples lives for
0:39:04 > 0:39:09the better. We might disagree about how do that. But I personally
0:39:09 > 0:39:12believe that a solid economy, a Sound economy, growing, offering
0:39:12 > 0:39:18people opportunities, for the future, is an absolutely essential
0:39:18 > 0:39:22bedrock to a civilised country. I want to see us creating a world in
0:39:22 > 0:39:26which people can realise those opportunities in the post Brexit
0:39:26 > 0:39:29world we are facing.Your party desperately needs something to
0:39:29 > 0:39:34change. Is this going to be a bit, exciting project which gets the
0:39:34 > 0:39:39country going?All budgets are big, political events. I hope what
0:39:39 > 0:39:42Winston will do is give me an opportunity to set out our vision
0:39:42 > 0:39:50for Britain post Brexit. -- I hope what Wednesday will do is give me. I
0:39:50 > 0:39:54think we are at something of a turning point. We had a difficult
0:39:54 > 0:39:58year. We are now, I think come on the brink of making some serious
0:39:58 > 0:40:04movement forward in our negotiations with the EU. And starting to unblock
0:40:04 > 0:40:08that logjam so people can start to see clarity about the future. We
0:40:08 > 0:40:12have had a nasty bout of inflation this year. It looks like it is
0:40:12 > 0:40:17getting to the top. We can expect to see it falling next year. And after
0:40:17 > 0:40:21many years of struggling to get the deficit down and see our debts still
0:40:21 > 0:40:25rising, I think we are, at last, about to turn at corner and the debt
0:40:25 > 0:40:30begin to fall.You said this morning that public sectors have had years
0:40:30 > 0:40:37and years, and strained every muscle, to deliver on what they can.
0:40:37 > 0:40:41Lots of civil servant workers are shattered by the long austerity. Is
0:40:41 > 0:40:45that also about to change?Public services do brilliant work. They
0:40:45 > 0:40:51performed extraordinarily well. The NHS, which you wouldn't believe
0:40:51 > 0:40:55listening to some opposition politicians, that public
0:40:55 > 0:41:00satisfaction with the NHS is at a 20 year high. Our public servants are
0:41:00 > 0:41:03doing a remarkable job in what I acknowledge is difficult
0:41:03 > 0:41:09circumstances.You want to talk about the NHS. Simon Stevens has
0:41:09 > 0:41:13said recently, he wants an extra £4 billion as you know, but he says on
0:41:13 > 0:41:18the current funding if it be hard to expand mental health services or
0:41:18 > 0:41:23improve council care. NHS lists grew to 5 million people by 2021 on the
0:41:23 > 0:41:26current Budget. That meant an extra million people on the waiting list,
0:41:26 > 0:41:29which would mean the government would have to change the law to
0:41:29 > 0:41:33abandon some of the current target on waiting lists. You would not
0:41:33 > 0:41:39allow that to happen, would you? Simon Stevens drew up the NHS
0:41:39 > 0:41:45five-year view back in 2014. He was the one who set the envelope of
0:41:45 > 0:41:50resource that he asked the government for, £10 million extra by
0:41:50 > 0:41:542020. We agreed to fund that. That plan is not at the moment being
0:41:54 > 0:41:59delivered. We understand the pressures the NHS is under from
0:41:59 > 0:42:02higher demands than predicted. And we want to work with the NHS to
0:42:02 > 0:42:07address these problems and get it back on track.But he is very clear,
0:42:07 > 0:42:12you need an extra £4 billion, and if he doesn't get it come he says
0:42:12 > 0:42:17that's all right, but then we cannot achieve...Let me tell you a Budget
0:42:17 > 0:42:24secret. In the run-up to Budget people run -- running all kinds of
0:42:24 > 0:42:27services come to see us and they always have very large numbers which
0:42:27 > 0:42:31are absolutely essential, otherwise Armageddon will arise.You don't
0:42:31 > 0:42:37believe him?I don't contest for one moment that the NHS is under
0:42:37 > 0:42:40pressure. We've been doing careful work with the Department of Health,
0:42:40 > 0:42:46with the NHS, to look at where the pressures are, to look at capital
0:42:46 > 0:42:49needs of the NHS, to look at whether particular pressure points all
0:42:49 > 0:42:52around targets. And we will seek to address those in a sensible,
0:42:52 > 0:42:57measured, and balanced way.But you are not impressed by the Simon
0:42:57 > 0:43:02Stevens demand.I'm very impressed by the way Simon Stevens fight his
0:43:02 > 0:43:08corner. I'm glad to see he does. Of course, he's a very skilled and
0:43:08 > 0:43:10accomplished public servant. I'm sure he will carry on delivering for
0:43:10 > 0:43:16the NHS.Almost everybody agrees there is a housing crisis in this
0:43:16 > 0:43:19country. Sajid Javid was sitting in that chair if you weeks ago and he
0:43:19 > 0:43:24said it's a real problem, we need big thinking, we need £15 billion of
0:43:24 > 0:43:27extra money to completely transform the housing situation. Then we can
0:43:27 > 0:43:31build hundreds of thousands of homes, the hopes that this country
0:43:31 > 0:43:36needs, have you turned him down?He did not mention that, you should
0:43:36 > 0:43:42check that.People presume that all the time.That was mentioned
0:43:42 > 0:43:46afterwards. We've been working very closely with the Prime Minister. She
0:43:46 > 0:43:50said in Manchester in October that this is her number one priority. And
0:43:50 > 0:43:54the Budget is our opportunity to set out how we are going to deliver on
0:43:54 > 0:43:58that priority, how we are going to make good on our pledge to the next
0:43:58 > 0:44:01generation, that they should have the same opportunities their parents
0:44:01 > 0:44:09had. It isn't acceptable to us that so many fewer young Britons are able
0:44:09 > 0:44:15to own a home now than just ten or 15 years ago. It's not acceptable to
0:44:15 > 0:44:19us that there are not enough properties available to rent and
0:44:19 > 0:44:26that rent is sky-high. The answer is we must build more homes. We are
0:44:26 > 0:44:30delivering planning permission is at record numbers. We are delivering
0:44:30 > 0:44:37homes in record numbers, 217,000 in the last year reported this week.
0:44:37 > 0:44:42That is a big amounts and 2010.Do you have a number in your head?The
0:44:42 > 0:44:48challenge is affordability. Experts generally agree. That start making
0:44:48 > 0:44:51inroads on the affordability problem we must be sustainably delivering
0:44:51 > 0:44:57around 300,000 homes a year. On average. Across the housing cycle.
0:44:57 > 0:45:01That's a big step up from where we are now. There is no single magic
0:45:01 > 0:45:04bullet. It's certainly not about pouring money. Because if you pour
0:45:04 > 0:45:08money and without fixing the other elements of supply you will simply
0:45:08 > 0:45:16create more howls price inflation. -- house price inflation.Isn't one
0:45:16 > 0:45:20of the crucial thing is to have more relatively inexpensive land in the
0:45:20 > 0:45:24right places where people actually want to live, that means encroaching
0:45:24 > 0:45:31a bit in some areas near railway stations, so on the green belt?
0:45:31 > 0:45:36We have made commitments about protecting the Green Belt. There is
0:45:36 > 0:45:41lots of things we can do using planner and intervention powers to
0:45:41 > 0:45:48get planning permissions that have been granted biment. In London there
0:45:48 > 0:45:51are 270 residential planning permissions that have not today been
0:45:51 > 0:45:57built. We need to understand why these planning permissions that are
0:45:57 > 0:46:00going up that will continue to increase across the country, why
0:46:00 > 0:46:05they are not being built up. We will intervene to make sure they are and
0:46:05 > 0:46:09use money and the powers of state and the powers of the planning
0:46:09 > 0:46:14system, but we are determined to get those missing homes built.One of
0:46:14 > 0:46:19the things that stops younger people getting into homes is stamp duty, it
0:46:19 > 0:46:22is so expensive to buy your first home. Is there anything you can do
0:46:22 > 0:46:28for them?Well, obviously, I'm not going to discuss tax ahead of
0:46:28 > 0:46:34budget. But we recognise the challenge for young first time
0:46:34 > 0:46:43buyers that...It is almost impossible.We have put in place
0:46:43 > 0:46:49schemes s like the help to buy loan and have given the first time buyer
0:46:49 > 0:46:52an opportunity. But nobody is saying we have done enough. We must do
0:46:52 > 0:46:57more. We recognise there is a challenge there and on Wednesday I
0:46:57 > 0:47:03shall set out how we intend to address it. It won't be a series of
0:47:03 > 0:47:08small measures, important though those may be, you have the vision to
0:47:08 > 0:47:14get Britain building again. I will set out a vision with a number of
0:47:14 > 0:47:19measures. We have got to re-create the small and medium sized house
0:47:19 > 0:47:23building sector that used to exist but was wiped out in the financial
0:47:23 > 0:47:30crisis. We need small building firms in every town and city as well as
0:47:30 > 0:47:33the big national builders. We have got to make sure they can access the
0:47:33 > 0:47:39finance that they need. So we have got to make sure, we are importing
0:47:39 > 0:47:44bricks and concrete and we have got to make sure we have the materials
0:47:44 > 0:47:48and train the workers so there will be a raft of measures that address
0:47:48 > 0:47:58these issues. There is no one single silver bullet.One other theme is
0:47:58 > 0:48:02our technological development, AI and robotics, there seems to be a
0:48:02 > 0:48:07suggestion you will have a push towards driverless cars. By the next
0:48:07 > 0:48:11election, if you're walking up and down a street in Britain, will you
0:48:11 > 0:48:17see a driverless car pass you?That is our objective to see fully
0:48:17 > 0:48:25driverless cars without the safety attendant in the car on the roads by
0:48:25 > 0:48:292021. I believe we have to embrace these technologies and take up the
0:48:29 > 0:48:32challenges if we want to see Britain leading the next industrial
0:48:32 > 0:48:38revolution. We have a huge advantage across a whole range of new
0:48:38 > 0:48:48technologies that are going to transform our lives. If we want to
0:48:48 > 0:48:53ensure our future we have to build the industries to create the high
0:48:53 > 0:49:02paying jobs of tomorrow.Have you been been in a driverless car.No
0:49:02 > 0:49:05Jeremy Clarkson said they're dangerous.I'm promised to go
0:49:05 > 0:49:12tomorrow. With robotics more generally, people say this is a bit
0:49:12 > 0:49:17like the first big recent wave of globalisation, politicians telling
0:49:17 > 0:49:22us it will be great and it has destroyed jobs and hollowed out
0:49:22 > 0:49:27communities, robotics will be the same. There is more than a million
0:49:27 > 0:49:31people driving for a living, most will lose their jobs and itself is
0:49:31 > 0:49:37not clear where the next lot of jobs will come from. Either we embrace
0:49:37 > 0:49:43change and put ourselves at the forefront of us or try to hide and
0:49:43 > 0:49:48allow ourselves to slip behind. We have to embrace change. And we have
0:49:48 > 0:49:52to ensure that our people have the skills and the capability and the
0:49:52 > 0:49:59tools they need to be able to evolve to learn new skills and take up new
0:49:59 > 0:50:03careers, I remember 20 years ago we were worrying about what would
0:50:03 > 0:50:08happen to the million short hand typists in Britain as the personal
0:50:08 > 0:50:13computer took over. Where are all these unemployed people. There are
0:50:13 > 0:50:18no unemployed people. There are a lot of unemployed people. We have
0:50:18 > 0:50:24created three and a half million new jobs, this economy has become a jobs
0:50:24 > 0:50:29factory. Constantly reinventing itself.But a lot of jobs are low
0:50:29 > 0:50:37wage jobs.I don't agree. The way we get higher paid wages...Average
0:50:37 > 0:50:45wages are gone down.To embrace new technologies and productivity
0:50:45 > 0:50:50enhancement. That is another theme, we must continue to invest in
0:50:50 > 0:50:54improving Britain's productivity. That is how we get higher real
0:50:54 > 0:50:59wages.I said that over hanging this is the national debt and you
0:50:59 > 0:51:06mentioned it, what was it as a percentage of GDP when the
0:51:06 > 0:51:11Conservatives came to power.About 60%.Where is it now?That will be a
0:51:11 > 0:51:16matter that will be revealed in the OBR report on Wednesday. It starts
0:51:16 > 0:51:20with 8.A high eight. That is a terrible record. You say it is about
0:51:20 > 0:51:26to change. That is a really bad stain on your record as Chancellor
0:51:26 > 0:51:34is it not?No when you have a deficit of the size we inherited in
0:51:34 > 0:51:382010, your debt will be growing.You said you were going to wipe out by
0:51:38 > 0:51:442015.We have reduced it since 2010 by three quarters, that is ary
0:51:44 > 0:51:49markable achievement. -- that is a remarkable achievement. As we get it
0:51:49 > 0:51:53down the growth in our debt has got smaller until we are at the point or
0:51:53 > 0:51:59almost at the point where that debt mountain stops growing and starts to
0:51:59 > 0:52:03slowly decline. That is a really important moment in our economy's
0:52:03 > 0:52:14life.Is that a promise?We are at or near the point where the debt has
0:52:14 > 0:52:19stopped growing.I have some Brexit questions. Will the public know in
0:52:19 > 0:52:26the next couple of weeks how much we will have to spend to leave EU.The
0:52:26 > 0:52:33Prime Minister is clear we will meet our on obligations to the EU and we
0:52:33 > 0:52:39want to make progress in the discussions in December and the
0:52:39 > 0:52:42Europeans have asked us for more clarity.We are running out of time
0:52:42 > 0:52:46for this aren't we, we need to know soon.The council is three weeks, so
0:52:46 > 0:52:54yes.Will we know then what the bill will be?We will make our proposals
0:52:54 > 0:52:58in time for the council.The Irish Prime Minister asked for a
0:52:58 > 0:53:02commitment in writing about how Britain will avoid a hard boarder in
0:53:02 > 0:53:07Ireland, will he get that?Everybody wants to avoid a hard border we are
0:53:07 > 0:53:13clear it won't be us creating hard infrastructure at the Irish border.
0:53:13 > 0:53:19As the Taoiseach knows, there are challenges about how we manage the
0:53:19 > 0:53:27border and we can can only solve them in a broader understanding of
0:53:27 > 0:53:30Britain's relationship with Europe. It is a chicken and egg. We have
0:53:30 > 0:53:35need to solve the relationship problem first.Would it not be
0:53:35 > 0:53:43logically and sensible to allow Northern Ireland to have a different
0:53:43 > 0:53:48relationship with the customs union. Not if it meant a hard border
0:53:48 > 0:53:51between Britain and Northern Ireland. We are not prepared to
0:53:51 > 0:53:53countenance anything that could start to break up the United
0:53:53 > 0:54:00Kingdom.You may not have seen it, but James Dyson said that the
0:54:00 > 0:54:04outrageous demands of the EU on the British Government, the sensible
0:54:04 > 0:54:13thing was to turn our backs and walk away now. Why is he Ronning?O' e -
0:54:13 > 0:54:19why is he wrong. It is about what is properly due under international law
0:54:19 > 0:54:23and we have been clear that it won't be easy to work out that number. But
0:54:23 > 0:54:28what ever is due we will pay. We are a nation that honours our debts. And
0:54:28 > 0:54:32of course we will negotiate hard where there is any doubt about
0:54:32 > 0:54:37whether an item is payable or not, but those debts that are clear of
0:54:37 > 0:54:42course we will pay.Why is a transition period so important?
0:54:42 > 0:54:45Because both businesses and governments need time to plan for
0:54:45 > 0:54:50the change ahead, as we leave the EU, and forge a different
0:54:50 > 0:54:54relationship with your neighbours, things will change and be different.
0:54:54 > 0:54:58And businesses need to make forward contracts, forward plans, government
0:54:58 > 0:55:05agencies need to put in place new arrangement.When do they need to
0:55:05 > 0:55:12know when the arrangements are.We need a transition period in place as
0:55:12 > 0:55:16soon as possible. I would like to see it over the course of the next
0:55:16 > 0:55:21few months being agreed and then of course we can work out the exact
0:55:21 > 0:55:26details later. Getting an agreement as soon as possible would be good
0:55:26 > 0:55:35for Britain and EU.Michel Barnier say it would not be ready until
0:55:35 > 0:55:41October next year. Will it still be useless.Well it will be less useful
0:55:41 > 0:55:45than now, because people will have started to make alternative supply
0:55:45 > 0:55:50arrangements. Britain companies importing from the EU may have had
0:55:50 > 0:55:54to break the arrangements and start sourcing elsewhere. Government
0:55:54 > 0:56:00agencies will have had to start putting in place arrangements for
0:56:00 > 0:56:06Brexit in March.You're wasting assets.Yes it is a wasting asset,
0:56:06 > 0:56:11so it is in everyone's interest to get it in place as soon as possible.
0:56:11 > 0:56:15Theresa May said the time and the date when we leave the EU will be
0:56:15 > 0:56:19there in black and white on the front-page of this piece of
0:56:19 > 0:56:24legislation. Will it be?Well we have proposed we will have the date
0:56:24 > 0:56:29in the bill. But of course Parliament decides these things, not
0:56:29 > 0:56:36governments.You don't know.Well, governments propose legislation but
0:56:36 > 0:56:39Parliament is sovereign and there is a discussion in Parliament about
0:56:39 > 0:56:43this. We have no plans to change what we are putting perfect
0:56:43 > 0:56:53Parliament.--Putting before Parliament.When youlike at look at
0:56:53 > 0:57:03the way the EU is negotiating and the way the economy is growing do
0:57:03 > 0:57:08you like people like Jeremy Hunt say if there was a vote I might vote to
0:57:08 > 0:57:12leave the EU and the other side were right.There isn't a vote now.I
0:57:12 > 0:57:17know.There isn't going to be a second referendum. We have had our
0:57:17 > 0:57:20debate and made our decision I'm committed as is every member of the
0:57:20 > 0:57:26cabinet, to getting on and delivering Brexit as quickly and as
0:57:26 > 0:57:32cleanly as possible in a way that protects British prosperity to reap
0:57:32 > 0:57:36the benefit and the opportunities that are available to us in the
0:57:36 > 0:57:45post-Brexit world.Many of your critics in the Tory party see you as
0:57:45 > 0:57:50the arch remoaner who is not committed to this, in your guts
0:57:50 > 0:57:54you're not committed to our leaving. I think Britain has a bright future
0:57:54 > 0:58:00ahead of it. And we have to embrace the opportunities that the
0:58:00 > 0:58:06post-Brexit world will offer. They will be opportunities based on huge
0:58:06 > 0:58:12change and technological evolution. It won't always be easy, but the
0:58:12 > 0:58:15British people are up for the challenges and we must run to the
0:58:15 > 0:58:18opportunities.You said one extraordinary thing earlier on, you
0:58:18 > 0:58:26said there are not any unemployed people. There are 1.4 million.Of
0:58:26 > 0:58:31course unemployment is at record lows. The lowest since the 1970s and
0:58:31 > 0:58:35we have a remarkable record of creating new jobs and we are getting
0:58:35 > 0:58:41people into work at a remarkable work.It sounds like 1.4 million
0:58:41 > 0:58:47people have been forgeted.No we are focussed on getting them into work.
0:58:47 > 0:58:50It was the last Labour government that dumped them on welfare. We have
0:58:50 > 0:58:56reformed the system to make sure that work always pays and to work
0:58:56 > 0:59:01with people and to up skill them and get them into work.Thank you.
0:59:01 > 0:59:04That's all for this week, thanks to all my guests.
0:59:04 > 0:59:07Til next week, goodbye.