Browse content similar to 16/03/2016. Check below for episodes and series from the same categories and more!
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through the weekend, not necessarily sunny everywhere. There will be | :00:00. | :00:00. | |
cloud around and it will always be on the chilly side. | :00:00. | :00:00. | |
George Osborne delivers his budget - as latest forecasts say growth | :00:07. | :00:08. | |
In his red box today - the speech that has changed our | :00:09. | :00:14. | |
He says the storm clouds are gathering. | :00:15. | :00:22. | |
The outlook for the global economy is weak. | :00:23. | :00:25. | |
It makes for a dangerous cocktail of risks. | :00:26. | :00:28. | |
But one that Britain is well prepared to handle | :00:29. | :00:31. | |
He's failed on the budget deficit, failed on debt, failed | :00:32. | :00:38. | |
on investment, failed on productivity, | :00:39. | :00:41. | |
failed on trade deficit, failed on the welfare cap, | :00:42. | :00:44. | |
failed to tackle inequality in this country. | :00:45. | :00:49. | |
Mr Osborne announces a tax on sugary drinks - | :00:50. | :00:51. | |
it's his new plan to tackle childhood obesity. | :00:52. | :00:56. | |
No one likes tax, right, but this is a tax for good. | :00:57. | :00:59. | |
This is a tax that's symbolic, this is a tax that will have ripples | :01:00. | :01:02. | |
There are lower taxes for small business - | :01:03. | :01:07. | |
and ways to make big business pay more. | :01:08. | :01:11. | |
We'll work out what today's budget says about the UK economy - | :01:12. | :01:13. | |
We are going to win, win, win and we're not stopping. | :01:14. | :01:21. | |
We're going to have great victories for our country. | :01:22. | :01:23. | |
In America, big wins for Donald Trump in the race | :01:24. | :01:27. | |
A remarkable comeback for Sprintre Sacre - | :01:28. | :01:33. | |
he wins the Queen Mother Champion Chase at Cheltenham, | :01:34. | :01:35. | |
three years after heart problems were detected. | :01:36. | :01:58. | |
Good evening and welcome to the BBC News at Six. | :01:59. | :02:02. | |
George Osborne delivered his latest budget today saying that Britain | :02:03. | :02:04. | |
faced a challenge - with "storm clouds" gathering over | :02:05. | :02:06. | |
There were changes that will affect take home pay and help for younger | :02:07. | :02:12. | |
savers in what the Chancellor called a "budget for the next generation". | :02:13. | :02:16. | |
Labour called it a "budget of failure." | :02:17. | :02:20. | |
Latest forecasts suggest that economic growth is slowing down - | :02:21. | :02:23. | |
but Mr Osborne said that still leaves Britain ahead | :02:24. | :02:25. | |
Under the changes on personal taxes - from next April you won't start | :02:26. | :02:31. | |
paying income tax till you earn ?11,500. | :02:32. | :02:42. | |
And - once again - there was a big surprise. | :02:43. | :02:44. | |
He's introducing a sugar levy on soft drinks -- | :02:45. | :02:46. | |
More on that in a moment, but first our Deputy Political | :02:47. | :02:50. | |
Editor James Landale watched the exchanges in the Commons. | :02:51. | :02:55. | |
The government likes to talk of fixing the roof when the sun shines. | :02:56. | :03:02. | |
At Westminster and elsewhere it is a long-term economic plan that is | :03:03. | :03:05. | |
taking longer than expected. For George Osborne and his budget box, | :03:06. | :03:10. | |
it contained worst economic news than he had hoped and therefore | :03:11. | :03:14. | |
bigger cuts than he wanted. Cuts he has to make if he is to get his | :03:15. | :03:21. | |
budget in surplus by 2019. As he headed for the Commons, George | :03:22. | :03:24. | |
Osborne new as well as the bad news, he also needed some better news | :03:25. | :03:29. | |
ahead of a referendum web needs support of voters and Tory MPs if | :03:30. | :03:37. | |
the UK is to stay in the EU. The Chancellor of the Exchequer. So with | :03:38. | :03:40. | |
his statement to MPs was deliberately cautious. No massive | :03:41. | :03:42. | |
radical reforms, instead some tax cuts to soften the worsening | :03:43. | :03:49. | |
economic news. Financial markets are turbulent, productivity growth | :03:50. | :03:52. | |
across the West is too low. The outlook for the global economy is | :03:53. | :03:56. | |
weak. It makes for a dangerous cocktail of risks. So with the | :03:57. | :04:01. | |
economy and productivity glowing Sir Ben expected he admitted he had | :04:02. | :04:05. | |
missed its target of cutting depth of the share of national income and | :04:06. | :04:08. | |
he would have to cut spending by a further ?3.5 billion a year from | :04:09. | :04:14. | |
2019. Grim news that he tried to Sweden with a surprise. I'm not | :04:15. | :04:18. | |
prepared to look back at my time in this Parliament doing this job and | :04:19. | :04:21. | |
say to my children's generation I'm sorry, we knew there was a problem | :04:22. | :04:25. | |
sugary drinks, that cause disease, but we ducked the difficult | :04:26. | :04:31. | |
decisions and did nothing. So today I can announce we will introduce a | :04:32. | :04:34. | |
new sugar levy on the soft drinks industry. Attacks that will raise | :04:35. | :04:41. | |
half a year to be spent on extra support for primary schools. If Tory | :04:42. | :04:45. | |
MPs like that, some were less keen on the Chancellor using his budget | :04:46. | :04:50. | |
to make the case for the EU. Britain will be stronger, safer and better | :04:51. | :04:54. | |
off inside a reformed EU. I believe we should not put at risk all the | :04:55. | :05:00. | |
hard work the British people have done to make our economy strong | :05:01. | :05:06. | |
again. Buddy cheered Tory MPs with a flurry of tax cuts. Raising the | :05:07. | :05:11. | |
tax-free personal allowance to ?11,500 from April next year. | :05:12. | :05:14. | |
Raising the threshold for the higher rate of income tax to ?45,000 at the | :05:15. | :05:24. | |
same time. And a new ISA to encourage saving. Fuel duty would be | :05:25. | :05:31. | |
frozen, corporation tax to 17%, and small firms would get their business | :05:32. | :05:36. | |
rate cut permanently. All good news for groups are often oppose the EU. | :05:37. | :05:41. | |
A typical corner shop in Barnstaple will pay no business rates, a | :05:42. | :05:46. | |
typical hairdresser will pay no business rates, Mr Deputy Speaker, | :05:47. | :05:55. | |
?7 billion tax cut for our nation shopkeepers. But how is he going to | :05:56. | :06:00. | |
pay for it. By imposing a massive tax rise on big firms. Scrapping | :06:01. | :06:04. | |
schemes they used to avoid paying business tax. There will be a ?12 | :06:05. | :06:09. | |
billion crackdown on tax avoidance and evasion and public sector | :06:10. | :06:12. | |
employers will have to pay more pension contributions. This is a | :06:13. | :06:18. | |
budget that gets investors investing, safer saving, businesses | :06:19. | :06:21. | |
doing business, so we build for working people are low tax, | :06:22. | :06:25. | |
enterprise Britain, secure homes, strong in the world. I commend to | :06:26. | :06:29. | |
the house a budget that puts the next generation first. For a | :06:30. | :06:35. | |
Chancellor with one eye on becoming the next Tory leader, those were the | :06:36. | :06:40. | |
cheers that he wanted to hear. But for all the talk of a brighter | :06:41. | :06:44. | |
economic future, Labour came out fighting, saying it was a recovery | :06:45. | :06:51. | |
built on sand. Failed on the budget deficit, failed on debt, failed on | :06:52. | :06:54. | |
investment, failed on productivity, failed on trade deficit, failed on | :06:55. | :06:59. | |
the welfare cap, failed to tackle inequality in this country. And | :07:00. | :07:06. | |
inequality he said, that was epitomised by the welfare cuts for | :07:07. | :07:11. | |
the disabled. Half a million people with disabilities are losing over ?1 | :07:12. | :07:15. | |
billion in personal independence payments, and meanwhile corporation | :07:16. | :07:25. | |
tax is being cut and billions handed out to the wealthy. Outside | :07:26. | :07:29. | |
Parliament some celebrated the sugar tax and others were disappointed by | :07:30. | :07:32. | |
what they saw as a missed opportunity. This budget has little | :07:33. | :07:36. | |
for Wales, the bulk of announcement regarding Wales we knew about | :07:37. | :07:39. | |
already, or they only affect England. What is does is confirmed | :07:40. | :07:45. | |
the failure of George Osborne, everything pushed back. The | :07:46. | :07:49. | |
so-called long-term plan has been abject failure. To finish. The storm | :07:50. | :07:55. | |
clouds that George Osborne said our gathering, but the economy is fit | :07:56. | :07:59. | |
for the future. We'll only know if he is right the referendum is over | :08:00. | :08:04. | |
and he has capped all that spending. So let's look at George Osborne's | :08:05. | :08:06. | |
new UK-wide sugar levy. It'll be based on the amount | :08:07. | :08:08. | |
of added sugar in each product. There'll be two bands - | :08:09. | :08:11. | |
one for drinks like cordials and flavoured waters - | :08:12. | :08:14. | |
with less sugar content - and another band for the sweetest | :08:15. | :08:16. | |
drinks like most colas. Independent figures estimate | :08:17. | :08:19. | |
that these drinks could go up by between 18p per litre | :08:20. | :08:21. | |
and 24p per litre. The levy will be introduced | :08:22. | :08:23. | |
in two years' time - and in England the money raised | :08:24. | :08:31. | |
will go towards school sports. Our Health Editor Hugh | :08:32. | :08:33. | |
Pym has more details. It was a big surprise and could | :08:34. | :08:42. | |
affect almost every family. Today these shoppers worked out what the | :08:43. | :08:47. | |
new levy on sugary drinks to take effect in two years' time, might | :08:48. | :08:51. | |
mean for them. I do not drink it often. It is only because the baby | :08:52. | :08:59. | |
wants it. I think it is a good idea, stop kids buying fizzy drinks all | :09:00. | :09:02. | |
the time. The cost to the NHS and the dentist, it is bad. At the end | :09:03. | :09:08. | |
of the day they are bad but enjoyable. Some campaigners were not | :09:09. | :09:14. | |
hiding how they felt about it. The celebrity chef Jamie Oliver has | :09:15. | :09:18. | |
called for some time for a sugar tax as part of a drive to reduce | :09:19. | :09:21. | |
childhood obesity. It is all geared to reformulation. It is not | :09:22. | :09:28. | |
anti-business, I would say it is a symbolic slap and that is what we | :09:29. | :09:31. | |
wanted. How fine is it that business can do so well, be so prolific, and | :09:32. | :09:39. | |
have genuinely ill health marks on our children. The levy will be on | :09:40. | :09:44. | |
manufacturers, excluding milk -based sugary drinks. It is likely to be | :09:45. | :09:47. | |
passed on to retailers and consumers. The industry argues such | :09:48. | :09:51. | |
a move is not the way to tackle obesity. I think it is unfair and | :09:52. | :09:57. | |
ironic almost that the soft drinks manufacturers who have been in the | :09:58. | :10:00. | |
vanguard of reformulation, making their products more widely available | :10:01. | :10:06. | |
with great choice, it should be those penalised through the measure. | :10:07. | :10:12. | |
The Chancellor says proceeds will be spent on school sport in England, it | :10:13. | :10:15. | |
is up to Scotland, Wales and Northern Ireland how to use their | :10:16. | :10:18. | |
share. The move comes at a time of increasing concern about obesity and | :10:19. | :10:24. | |
the consequences for health. There's already a strain the NHS and | :10:25. | :10:28. | |
problems often develop in the early years. About 10% of four and | :10:29. | :10:32. | |
five-year-olds in England starting off at school are said to be obese. | :10:33. | :10:37. | |
By the age of ten and 11 that figure has gone up to 19% and when it comes | :10:38. | :10:44. | |
to adults, 25% are obese. Trading conditions linked to obesity costs | :10:45. | :10:49. | |
the NHS in England ?5.1 billion in the last financial year. To put that | :10:50. | :10:54. | |
in perspective, the cost of treating smoking-related diseases including | :10:55. | :10:57. | |
lung cancer costs 3.9 billion. All of that came from a total health | :10:58. | :11:03. | |
budget of ?113 billion in England last year. The head of NHS England | :11:04. | :11:08. | |
says the new policy will help improve children's health. But he | :11:09. | :11:13. | |
says it is just one of the series of measures to be unveiled this year. | :11:14. | :11:17. | |
It is part of a much broader conference of strategy that we need, | :11:18. | :11:22. | |
that also need to take of promotions and advertising and food | :11:23. | :11:27. | |
formulation. So together we think these measures will severely and | :11:28. | :11:33. | |
substantially tackle the problem we have of childhood obesity. Health | :11:34. | :11:37. | |
campaigners hope this is a game changing moment. There's a lot of | :11:38. | :11:39. | |
details still to be worked out. So as we've heard latest | :11:40. | :11:43. | |
forecasts for growth are down and George Osborne says | :11:44. | :11:46. | |
Britain faces a turbulent Our economics correspondent | :11:47. | :11:48. | |
Andrew Verity has been crunching The Chancellor's been preparing us | :11:49. | :11:52. | |
for bad news since at least January, - when he talked about his dangerous | :11:53. | :12:00. | |
cocktail of risks to the economy - What we found out was some of those | :12:01. | :12:13. | |
risks are not just out there in the rest of the world, but happening | :12:14. | :12:14. | |
here. Start with the cooling global | :12:15. | :12:21. | |
economy. Add some turbulent financial markets. Chuck in a slump | :12:22. | :12:25. | |
in oil prices. All the ingredients you need to make the world economy | :12:26. | :12:32. | |
go a little wobbly. As we imbibe the effects we are slowing down as well. | :12:33. | :12:35. | |
The Office for Budget Responsibility now thinks we will be producing far | :12:36. | :12:40. | |
less per person than it had hoped as recently as November. The Obi are | :12:41. | :12:43. | |
slashed its prediction for economic growth this year from 2.4%, to 2.0%. | :12:44. | :12:48. | |
Largely because of that slower relativity. If that is not going up | :12:49. | :12:54. | |
as fast as hoped, earnings will not go up as fast as hoped, the economy | :12:55. | :12:59. | |
will not grow as fast, that is the big change. And that's the thing we | :13:00. | :13:02. | |
should be talking about more than anything else. It really matters. | :13:03. | :13:07. | |
Not just for the Chancellor but how well off we all are. Slower growth | :13:08. | :13:11. | |
should mean less tax money for the Chancellor. But somehow said the | :13:12. | :13:16. | |
official predictions, he's still on course. He will still be spending | :13:17. | :13:19. | |
more than his income, in other words running a deficit, until 2019. But | :13:20. | :13:25. | |
it will not reduce as quickly until the final year when it suddenly | :13:26. | :13:30. | |
turns into a surplus of ?10.4 billion. That is a huge swing and in | :13:31. | :13:34. | |
the last of the Parliament, ?32 billion. What is more he somehow | :13:35. | :13:39. | |
find the money for big tax giveaways like the lifetime ISA and freezing | :13:40. | :13:45. | |
fuel duty. Raising tax trust for next year will cost him ?2.5 | :13:46. | :13:52. | |
billion. And more belief for small businesses with business rates will | :13:53. | :13:57. | |
cost 1.4 billion. A giveaway to begin with and then a takeaway, the | :13:58. | :14:04. | |
years for which the government has a target to achieve a budget surplus. | :14:05. | :14:08. | |
What is striking is we do have quite a big squeeze taking place in 2019. | :14:09. | :14:14. | |
That big squeeze will mean big spending cuts. ?3.5 billion in | :14:15. | :14:19. | |
efficiency savings from government departments, but not until 2019. | :14:20. | :14:27. | |
Maybe -- making public sector employees pay more in pensions. Not | :14:28. | :14:32. | |
until 2019. And making it harder to claim money for special equipment if | :14:33. | :14:34. | |
you are disabled, saving ?1.3 billion, but not until 2019. | :14:35. | :14:42. | |
Once it looked like a sturdy would-be front-loaded with a | :14:43. | :14:46. | |
feel-good effect later. Now it is being back loaded, saving a big | :14:47. | :14:50. | |
spending cuts and tax rises to the last year before the next election. | :14:51. | :14:56. | |
Careful, these could have delayed effect. | :14:57. | :14:59. | |
Amongst the other measures announced by the Chancellor today are | :15:00. | :15:04. | |
investments in infrastructure. There's an extra ?700 million | :15:05. | :15:07. | |
for flood defences. There was a commitment to introduce | :15:08. | :15:19. | |
new elected mayors for English academies - taking them out | :15:20. | :15:21. | |
of local authority control. Well let's pause for | :15:22. | :15:28. | |
a moment and take stock. In a moment the view | :15:29. | :15:30. | |
from Downing Street with our Political Editor Laura Kuenssberg, | :15:31. | :15:33. | |
but first to Westminster Simon, quite a few changes for | :15:34. | :15:46. | |
businesses, both big and small? The Chancellor thought he would start | :15:47. | :15:49. | |
small first. Small business is definitely the big winner. The | :15:50. | :15:53. | |
eye-catching one was lifting many of them out of the business rate | :15:54. | :15:58. | |
system. It is a big burden on them and they have welcomed back. That | :15:59. | :16:02. | |
and the corporation tax that is expensive and where will he get the | :16:03. | :16:06. | |
money? That is where big business comes in, their ability to offset | :16:07. | :16:13. | |
big debts against profits. More bad news for the banks because their | :16:14. | :16:18. | |
ability to use losses over the years, that has been constrained. | :16:19. | :16:24. | |
But, big or small, the Kolarov the sky is the same wherever you are in | :16:25. | :16:28. | |
this economy. What we have learned is the sky above us, economically, | :16:29. | :16:35. | |
has been darkening somewhat. Laura, eye-catching measures like the sugar | :16:36. | :16:41. | |
tax, but there are risks for George Osborne? There are, maybe we should | :16:42. | :16:46. | |
call this the hold your nerve budget. Hold your nerve, although | :16:47. | :16:51. | |
compared to other countries we are doing well. But things are slowing | :16:52. | :16:58. | |
down. Hold your nerve, because George Osborne has chosen to keep | :16:59. | :17:01. | |
cutting public spending and will do that all the way through to 2020. | :17:02. | :17:05. | |
But the most sensitive cut, the biggest cut of all, taking money | :17:06. | :17:11. | |
away from payments towards disabled people. Hold your nerve for George | :17:12. | :17:16. | |
Osborne, because he has also made some big promises, trying to show he | :17:17. | :17:20. | |
has not run out of big ideas. So whether that is tax cuts before the | :17:21. | :17:25. | |
next general election, promises to pass powers to regions a way from | :17:26. | :17:30. | |
the Square Mile in Westminster. He is trying to do big things, whilst | :17:31. | :17:36. | |
still having to do with the economy that is recovering much slower than | :17:37. | :17:40. | |
he originally hoped. The big truth of course, we cannot ignore, is | :17:41. | :17:45. | |
fundamentally for all others, the country is less prosperous than we | :17:46. | :17:49. | |
thought before today and less did. And for this Chancellor in number | :17:50. | :17:53. | |
11, who staked his reputation on fixing the economy in 2010, after | :17:54. | :17:58. | |
today, it is clearly very much still a work in progress. Laura and Simon, | :17:59. | :18:02. | |
thank you both. If you want to find out | :18:03. | :18:06. | |
more about the budget - and how it affects you - | :18:07. | :18:09. | |
you can use the BBC's budget Enter a few details and it will let | :18:10. | :18:11. | |
you know if you're better George Osborne has | :18:12. | :18:16. | |
delivered his budget - as latest forecasts say growth | :18:17. | :18:25. | |
in the economy is slowing down. Coming up -- I am live at a | :18:26. | :18:39. | |
hairdressing course at a college in Stockport, asking if people feel | :18:40. | :18:43. | |
better or worse off after the Chancellor's statement. Coming up in | :18:44. | :18:50. | |
sport, England have their world T 20 campaign underway. How did they get | :18:51. | :18:53. | |
on against the West Indies? We will have all you need to know from | :18:54. | :18:55. | |
India. In the American presidential race, | :18:56. | :19:05. | |
the Republican front runner, Donald Trump, has warned | :19:06. | :19:07. | |
of riots if he is denied Mr Trump strengthened his position | :19:08. | :19:10. | |
after winning primaries in three states - though he lost | :19:11. | :19:14. | |
in the key state of Ohio. In the Democratic race, | :19:15. | :19:18. | |
Hilary Clinton extended Here's our North America | :19:19. | :19:19. | |
Editor Jon Sopel. He's young, articulate, | :19:20. | :19:26. | |
telegenic and Hispanic. But Senator Marco Rubio | :19:27. | :19:30. | |
is also a loser. Last night the great | :19:31. | :19:33. | |
hope of the Republican establishment was crushed | :19:34. | :19:35. | |
in his home state of Florida While it's not God's | :19:36. | :19:39. | |
plan that I be president And while today my | :19:40. | :19:43. | |
campaign is suspended... The fact that I've even come this | :19:44. | :19:48. | |
far is evidence of how special Donald Trump made | :19:49. | :19:54. | |
impressive gains last night, winning nearly all the races | :19:55. | :20:00. | |
he fought and is now even further And he's achieved it | :20:01. | :20:03. | |
by bringing in new We have a great opportunity | :20:04. | :20:06. | |
and the people that are voting, Democrats are coming | :20:07. | :20:11. | |
in, Independents are coming in and very importantly, | :20:12. | :20:14. | |
people that never voted before. Donald Trump has had an emphatic | :20:15. | :20:17. | |
victory here in Florida. But perhaps the most striking thing | :20:18. | :20:24. | |
about tonight is what has happened It was to this man, the state | :20:25. | :20:30. | |
governor John Kasich, a moderate Republican who has now | :20:31. | :20:38. | |
vowed to carry on his fight We are going to go all | :20:39. | :20:41. | |
the way to Cleveland and secure the Republican | :20:42. | :20:46. | |
nomination. But the path is strewn | :20:47. | :20:50. | |
with more than confetti. John Kasich staying in the race | :20:51. | :20:53. | |
means the anti-Trump vote is now split between him | :20:54. | :20:56. | |
and Senator Ted Cruz. On the Democratic side, | :20:57. | :21:02. | |
things couldn't be Last night she won | :21:03. | :21:04. | |
all the contests that had been declared, leaving her rival | :21:05. | :21:08. | |
lagging a long way behind. Hillary Clinton's path seems clear. | :21:09. | :21:23. | |
On the Republican side it is more complicated. Donald Trump is way out | :21:24. | :21:28. | |
in front, has over half the delegate votes that he needs, but to get an | :21:29. | :21:32. | |
overwrought majority he would have to perform exceptionally well in the | :21:33. | :21:37. | |
remaining primaries. He could arrive at the convention ahead, but not | :21:38. | :21:42. | |
with the majority. Would the Republican leadership there to mount | :21:43. | :21:45. | |
a coup against him and his supporters to get someone else in? | :21:46. | :21:50. | |
If they did that, Donald Trump has warned there could be riots in the | :21:51. | :21:54. | |
streets and that is a threat people are taking seriously. George. | :21:55. | :21:58. | |
A man shot dead by the police in Brussels yesterday has been | :21:59. | :22:01. | |
identified as an Algerian national who was in Belgium illegally. | :22:02. | :22:03. | |
The raid was linked to the investigation | :22:04. | :22:06. | |
into the jihadist attacks in Paris that killed 130 people last | :22:07. | :22:09. | |
Police say they found a Kalashnikov rifle and the flag | :22:10. | :22:12. | |
of the Islamic State group near the man's body. | :22:13. | :22:20. | |
Two armed men who fled the flat are still being hunted. | :22:21. | :22:26. | |
Here are some other measures that could affect families up | :22:27. | :22:30. | |
They include an increase in the limit for ISA savings | :22:31. | :22:34. | |
Duty on beer, cider and spirits will be frozen. | :22:35. | :22:37. | |
But tobacco duty will rise by 2% above inflation. | :22:38. | :22:39. | |
My colleague Reeta Chakrabarti has been gauging reaction | :22:40. | :22:41. | |
to all of today's measures at Stockport College in Greater | :22:42. | :22:44. | |
George, thank you. It looks like I am in a hair salon, but this is a | :22:45. | :22:59. | |
class going on at Stockport college. People should be in an optimistic | :23:00. | :23:04. | |
mood. The Chancellor described the north-west of England as having the | :23:05. | :23:07. | |
fastest-growing employment rate in the country. But, poor people here, | :23:08. | :23:12. | |
students and the Jews, the young and not so young, it is not all that | :23:13. | :23:14. | |
straightforward. We are the builders, | :23:15. | :23:16. | |
declared the Chancellor. And young adults learning | :23:17. | :23:18. | |
the bricklaying trade 17-year-old Harvey | :23:19. | :23:20. | |
is keen to get on. He is interested in George Osborne's | :23:21. | :23:25. | |
proposed lifetime ISA, encouraging young people | :23:26. | :23:27. | |
to save by giving them a pound You can put your money away | :23:28. | :23:29. | |
so you can start saving for things that you need in life, | :23:30. | :23:40. | |
like a house, car, travel. Just building up that money | :23:41. | :23:43. | |
to get you off in life. I now call the Right | :23:44. | :23:45. | |
Honourable George Osborne, He is one of the Chancellor's | :23:46. | :23:48. | |
next generation. The focus of today's | :23:49. | :23:54. | |
Budget and supposedly one 18-year-old Hayley has been | :23:55. | :23:56. | |
listening to the message too. She is training to be a chef | :23:57. | :24:02. | |
while working part-time and wants She likes the idea of being | :24:03. | :24:07. | |
helped to save, but... The money I make, I have to use it | :24:08. | :24:13. | |
for public transport and also buying At the end of the day, | :24:14. | :24:17. | |
it's a good decision, but it's how are you going to start | :24:18. | :24:22. | |
saving if you don't have the money to start saving | :24:23. | :24:25. | |
with in the first place? Going to do a strand test to see | :24:26. | :24:27. | |
if your hair can take it. For those further on, | :24:28. | :24:32. | |
who already have their own business, there was something to cheer | :24:33. | :24:35. | |
with the Chancellor raising the threshold at which they | :24:36. | :24:37. | |
paid business rates. Good news for Karen, | :24:38. | :24:39. | |
who teaches at the College I've had a rate relief for the past | :24:40. | :24:41. | |
two years and it's been able to sustain and help my business | :24:42. | :24:49. | |
grow, because we've been able to keep the prices at a reasonable | :24:50. | :24:52. | |
price for our client base. And if this continues, | :24:53. | :24:55. | |
and gets better for the area, hopefully the area will grow | :24:56. | :24:57. | |
and my client base will grow again. But for car owners and anyone paying | :24:58. | :25:02. | |
insurance, it was a different story. A tax on premiums will go up | :25:03. | :25:05. | |
by half a percentage point, a smaller increase than expected | :25:06. | :25:08. | |
but it comes on top of the bigger I'm not happy at all because that | :25:09. | :25:11. | |
does affect me. Because I am a car owner, | :25:12. | :25:18. | |
I'm a home owner. I have a mortgage to pay and I'm | :25:19. | :25:20. | |
trying to stand on my own two feet, Welding together a vision | :25:21. | :25:24. | |
for the country with people's personal ambitions, | :25:25. | :25:32. | |
is what Chancellor's George Osborne will hope | :25:33. | :25:35. | |
that what he's produced So let's recap on some | :25:36. | :25:41. | |
of the main points in Latest forecasts suggest that | :25:42. | :25:50. | |
economic growth is slowing down but Mr Osborne said that | :25:51. | :25:59. | |
still leaves Britain ahead Under the changes on personal taxes | :26:00. | :26:01. | |
from next April you won't start paying income tax till | :26:02. | :26:05. | |
you earn ?11,500. And he's introducing a sugar levy | :26:06. | :26:07. | |
on soft drinks aimed Just time for a last word with our | :26:08. | :26:09. | |
Economics Editor Kamal Ahmed. We had there about some of the | :26:10. | :26:21. | |
people affected by this budget is, what does it tell us about the big | :26:22. | :26:27. | |
picture? It shows what difficulties George Osborne is facing. He set | :26:28. | :26:30. | |
himself three rules on the economy. But there would be a welfare cap. | :26:31. | :26:38. | |
That debt would fall by a proportion of national income. That was broken | :26:39. | :26:44. | |
today, debt will now rise. And the final one George Osborne has put his | :26:45. | :26:47. | |
reputation on, there will be a budget surplus by 2020. The economy | :26:48. | :26:54. | |
is not performing as well as was expected. It shows the cocktail of | :26:55. | :26:58. | |
difficulties are close to home and George Osborne has got to get | :26:59. | :27:03. | |
through some pretty tough conditions to get to the budget surplus by | :27:04. | :27:07. | |
2020. He has missed two fiscal rules, will he get the third one | :27:08. | :27:12. | |
right? We will see over the next three years. Thank you very much. | :27:13. | :27:17. | |
The dry weather persisting across the UK. This photo was taken this | :27:18. | :27:31. | |
morning under the cold conditions. Just a few hours later and the sun | :27:32. | :27:36. | |
was out. Temperatures really responding. Many saw some sunshine | :27:37. | :27:40. | |
today but across the South we were fighting a brisk and cold wind, | :27:41. | :27:44. | |
still in evidence overnight tonight. Most of us having a dry night but | :27:45. | :27:49. | |
increasingly misty and murky wants more around parts of eastern | :27:50. | :27:54. | |
Scotland. Three or four Celsius in towns and cities. Some auroral areas | :27:55. | :27:59. | |
will get down to freezing. Cold start to Thursday, particularly | :28:00. | :28:04. | |
around eastern Scotland and the North East coast of England. Any | :28:05. | :28:09. | |
cloud should gradually break up. In the salvation is some sunshine | :28:10. | :28:12. | |
around during Thursday. We have seen a lot of sunshine across western | :28:13. | :28:17. | |
Scotland. Subtle change tomorrow, particularly around the coast. Quite | :28:18. | :28:22. | |
misty and murky on the easternmost coasts and temperatures only getting | :28:23. | :28:27. | |
25 or 6 degrees. Central belts should write it up with eight or | :28:28. | :28:31. | |
nine Celsius here. Bit of sunshine across northern Ireland. Generally | :28:32. | :28:36. | |
sunny for much of the day. A keen breeze in the far south, but not as | :28:37. | :28:40. | |
strong as today and temperatures responding to the sunshine. | :28:41. | :28:44. | |
Temperatures getting into double figures. Largely dry and bright for | :28:45. | :28:48. | |
south-west England and Wales. But more cloud across central and | :28:49. | :28:52. | |
eastern part of the UK. Maybe some drizzle on the east coast. Five or 6 | :28:53. | :28:56. | |
degrees. Again, bit of sunshine and we should reach double digits. | :28:57. | :29:00. | |
High-pressure controlling things into the weekend. A lot dry weather | :29:01. | :29:05. | |
this weekend, but don't expect huge amount of sunshine, and it will be | :29:06. | :29:07. | |
on the chilly side. So it's goodbye from me | :29:08. | :29:13. | |
and on BBC One we now join the BBC's | :29:14. | :29:17. |