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HELLO & welcome to my weekly update no.332.
Wow so much happening - lots of debate ahead of the Budget. Locally some progress on the CIL scandal and our long campaigned-for 30% increase to the National Landscape (AONB) edges nearer.
WESTMINSTER WHISPERS
BUDGET BLUES Last week I debated with the Zack Polanski, new darling of the left and economically illiterate head of the Green Party in the Today Programmes's debate on who should pay more tax. Zack, who is very personable, argued it doesn’t matter how many millionaires leave the country as long as we slap a big wealth tax on them. As I explained on Sunday with Laura Kuenssberg, the Chancellor's job is not just to reduce the gap between rich and poor but actually raise money for public services - and fewer millionaires means fewer doctors and nurses. That is the central choice in the budget: reform welfare or raise taxes – and if you want growth it should be the former as I wrote in the weekend Telegraph. But as of now the budget has been decided, as I explained this morning on Sky News, so the time for these debates is over. For a friendly and actually quite enlightening 25 minute summary of the budget arguments, you can also check out the BBC Newscast show I did straight after the Kuennsberg show.
PENSION PRINCIPLES Whilst Rachel Reeves today appears to be busy targeting people saving for their pensions via salary sacrifice schemes, no one seems to be talking about how much money could be saved if we instead made public sector pensions a little fairer. I had a shot at it in the Sunday Times yesterday and it stirred up a hornets nest online. But I am sticking to my guns: if we really care about fairness and not loading up future generations with debt, public sector pensions should go through the same process of reform that has happened in the private sector.
PRAY FOR A U-TURN Let’s hope this week Rachel Reeves does a quiet-ish U-turn on the family farm tax. The changes she made to inheritance tax don’t just impact farms but every family business - take a look at my video below:
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