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Hear from Ben Chu, Policy and Analysis Correspondent at BBC Verify, as he deciphered the forecasts presented by Chancellor of the Exchequer Rachel Reeves, in her inaugural Budget announcement, on Wednesday 30 October 2024.
Labour has committed to reducing NHS waiting times, addressing anti-social behaviour, and recruiting 6,500 additional teachers. However, the financial outlook remains uncertain, so it will be interesting to see what the budget entails.
Sir Keir Starmer has already cautioned that the party’s first Budget will be challenging, urging the public to endure “short-term pain for long-term gain.”
This follows Chancellor Rachel Reeves’ announcement of scrapping several initiatives brought in by the previous government, citing the discovery of £22 billion in unfunded expenditures.
Renowned journalist and broadcaster, Ben Chu, dived into the statement, highlighting what it means for businesses across the UK.
More about Ben Chu
Ben Chu is a journalist, speaker and broadcaster who specialises in economics and current affairs. He is a Policy and Analysis Correspondent for BBC Verify. Previously he was the economics editor for BBC Newsnight, and before that was economics editor and chief leader writer at The Independent.
Ben was nominated for business journalist of the year at the British Journalism Awards and for business commentator of the year at the Comment Awards. He has reported from the US, China, Taiwan, Germany, France, Switzerland, and Ireland, and has covered the global financial crisis, the eurozone emergency, the Brexit fallout, and Donald Trump’s trade wars.
He sits on the international advisory board of the Sheffield Political Economy Research Institute (SPERI) and is a member of the Society of Professional Economists.
