Budget 2021: To recovery and beyond?

Inside Briefing with the Institute for Government

Institute for Government

News, Politics, Government

4.6 • 252 Ratings

🗓️ 2 March 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

On 3 March, Rishi Sunak will deliver his second Budget – almost a year on from the moment the government took the unprecedented step last spring to lockdown the country. With a third lockdown still in place, how will the chancellor deliver on Boris Johnson’s promise that the government will “continue to do whatever it takes to protect jobs and livelihoods across the UK”? What will the Budget do to support economic recovery once the lockdown is lifted? And will this Budget tell us anything about Sunak’s longer term ambitions for tax, spending, borrowing and debt? In this edition of Inside Briefing Extra, IfG Chief Economist Gemma Tetlow is joined by former special advisor Will de Peyer, IfG senior economist Tom Pope, and IfG senior fellow Giles Wilkes. Audio production by Candice McKenzie #IfGBudget2021 See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hello and welcome to Inside Briefing Extra, podcast from the Institute for Government.
0:14.8	I'm Gemitello, Chief Economist at the Institute for Government, stepping briefly into the
0:19.0	presenter's chair to bring you this bonus episode to discuss the Chancellor's forthcoming second budget. Rishi Sinnak took up the
0:25.0	post of Chancellor only a matter of weeks before he had to present his first budget last March.
0:29.7	This time, he has overseen the whole process. But with economics and politics still dominated
0:34.4	by COVID, he may not have had as much scope to stamp his mark on
0:37.7	Wednesday's announcements as he might have liked. When lay out the roadmap out of lockdown last
0:43.7	week, the Prime Minister said the government would continue to do whatever it takes to protect
0:48.0	jobs and livelihoods across the UK. One of the Chancellor's jobs in the budget will be to deliver
0:53.1	on that promise.
0:58.9	But the budget is also likely to look beyond that, to lay out policies to help the economy recover, and perhaps even hint at the Chancellor's longer term objectives for tax, spending and borrowing.
1:04.7	To discuss all of this, I'm delighted to be joined today by Tom Pope, IFG Senior Economist.
1:09.5	Hi, Tom.
1:10.4	Hi, John.
1:10.8	Giles Wilkes, IFG Senior Fellowist. Hi, Tom. Hi, Gemma.
1:17.4	Giles Wilkes, IFG Senior Fellow, is also with us. Hi, Charles. Hi, Jeremy. And I'm delighted to be joined by Will DePayer, who spent five years in the Treasury as a special advisor to Danny
1:21.5	Alexander when he was Chief Secretary in the Coalition Government. Will, great to have you
1:25.9	with us. Hi, Gemma. Are you missing the excitement of being in the Treasury and the run-up to budget day?
1:32.3	I definitely am. I have to say it was one of the, it's the great thing about being in the
1:39.0	Treasury. You always had two fiscal events every year. And so you always had an event to look forward to where your department was at the
1:47.2	centre of everything.
1:48.6	And it felt like the centre of the world for that brief time.
	...

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