here today would have to face this reality. >> eye watering sums of money. the biggest tax rises in a budget since 1993. and i can tell you, one person that was not happy about it rishi sunak national insurance up. >> capital gains tax up. inheritance tax up. energy taxes

up. business rates up. first time buyer stamp duty. up. pensions tax up. >> they have fiddled the figures. they don't like it , >> they have fiddled the figures. they don't like it, mr speaker. up. >> did you get into that, then? how's your morale? is that up as well or not? i want your thoughts on how you are feeling tonight. and what a treat for you, everyone. look who's keeping me company this evening for tonight's budget special, i've got kwasi kwarteng, the former conservative mp and chancellor of the exchequer, and bill rammell, the former labour minister. also, i will be speaking to one of britain's best entrepreneurs because business really did take a kicking today, didn't it? but before we get stuck in, let's cross live tonight's 6:00 news headunes.

headlines. >> good evening. i'm sophia wenzler with your headlines from the gb newsroom . rachel reeves the gb newsroom. rachel reeves has announced one of the biggest tax raising budgets in a generation , and the first for generation, and the first for a labour chancellor in 15 years. first, a 6.7% increase to the minimum wage , bringing it to minimum wage, bringing it to £12.21 and a rise in national insurance for employers to 15%. vat will be introduced on private school fees in 2025, while non—dom tax status is set to be abolished. capital gains tax will rise with the lower rate moving from 10% to 80% and inheritance tax thresholds will be frozen until 2030. a £2.3 billion boost goes to schools with tripled funding for breakfast clubs and an additional 2.9 billion will also be directed to the ministry of defence . meanwhile, in other defence. meanwhile, in other news, the prime minister has criticised both conservative leadership candidates comments on the southport stabbings that

left three young girls dead after they voiced concerns . after they voiced concerns. information on the attack may have been concealed. sir keir starmer warned mps they can either support the police in their difficult work on the southport case, or undermine them. it comes as axel rudakubana has appeared in court charged with terror and biological weapons offences. the 18 year old appeared via video link at westminster magistrates court to answer the new charges , court to answer the new charges, including making the deadly toxin ricin and possessing an al—qaeda terror manual. despite the new charges, police haven't classified the incident as a terrorist attack. rudy cabana will return to court next month on the 13th of november. gb news can confirm that there have been three migrant deaths in the engush three migrant deaths in the english channel today, as the number of people crossing illegally hits a new record high. at least 70 migrants were rescued. that's according to the french coastguard. one man died at the scene while a further two

bodies have been found along the shoreline . gb news can also shoreline. gb news can also reveal that 475 channel migrants arrived in dover today, taking the total numbers this year so far to more than 30,350. and some breaking news coming to us now, england test captain ben stokes has said. masked burglars raided his house while his wife and children were at home. he said the incident happened while he was competing in pakistan earlier this month . stokes said earlier this month. stokes said in a post online that jewellery, valuables and a good deal of personal items were taken on the 17th of october. alongside his post, he included some pictures of some of his possessions. the england cricket star added that by far the worst thing about this crime is that it was carried out whilst my wife and two young children were in the house, and the first uk case of a potentially deadly strain of the mpox virus has been detected in london. the uk health

security agency says the risk to the uk population remains low. the person involved had been on houdayin the person involved had been on holiday in africa and travelled back to london on an overnight flight on october the 21st. those are the latest gb news headlines. now it's back to michelle for the very latest gb news direct to your smartphone, sign up to news alerts by scanning the qr code, or go to gb news .com forward slash alerts . alerts. >> thank you very much for that. my >> thank you very much for that. my name is michelle dewberry and i'm keeping you company right through until 7:00 tonight. we finally got there didn't we? budget day after all the speculation and the tickings off, i've got to say, as well to the labour party for going to the labour party for going to the press and not to their parliamentary colleagues. we finally had the budget revealed. did you manage to watch any of

it? if you did, did you manage to see through it all? i did, i got right to the very end without even having to reach for a glass of wine. i thought that was an absolute miracle. one hour and 20 minutes there or thereabouts. goodness gracious me. well, look, i've got a great panel to get into all of this with you tonight. everyone. kwasi kwarteng, the former conservative mp and chancellor of the exchequer, and bill rammell, the former labour minister. good evening to both of you. good evening. you're also very welcome tonight as well. i want your views on the budget. how do you feel about so much speculation? was it as bad as you thought, better than you thought or what? john, he's got in touch and said we feel very miserable tonight, michel. the country is much worse off. oh, that's not very good, thomas says michel, the only black hole is where rachel reeves heart used to be. goodness gracious me, you're a harsh bunch. is anyone sitting out there feeling optimistic tonight, cheering away or not? without further ado, in case you did miss the

goings on today, let's cross live to our political editor, christopher hope. christopher , christopher hope. christopher, good evening to you. bring us up to speed on what has been quite an eventful day. no . an eventful day. no. >> hi, michel. yeah, it's been a long wait, hasn't it? the 16 week wait for this chance for this labour government to set out its stall for our country after that big landslide back in july. for me, it's been the trailers so far over the past 16 weeks talking about what may or may not happen, but the movie of this government starts today. the narrative has been set by the biggest tax rises since 1993 £40 billion of tax rises. around half of that money over two years will be going into the nhs. £22 billion, rachel reeves says. you want to see productivity gains, 2%, cuts in budgets of departments going forward. not much on welfare cuts though . the obr verdict the cuts though. the obr verdict the office for budget responsibility they're the independent forecasters who look at the treasury's books and are widely

respected. they say this budget delivers a large, sustained increase in spending, taxation and borrowing. put a different way, by the end of this decade, by 2030, the state will take up 5% more of our gdp, of our gross domestic product than it did before the pandemic. and that's why i think this government has made a choice to go towards the state. the state will sort out the problems this country faces . the problems this country faces. rachel reeves has said that in the past hour to the parliamentary labour party. she said this we made our choices to labour mps. i am proud of them , labour mps. i am proud of them, she said. let's make the case. i think over the next weeks and months on gb news and elsewhere, you will see this debate being being tested out. is it right that the state steps in and makes these choices, makes our country better , or is a private country better, or is a private sector better to do, to do that? the obr forecasts quite anaemic

growth between 1.1% and 2% between now and 2030. they reckon that inflation will stay above 2% until 2030 something i know which kwasi kwarteng in the studio may have something to say about, and also on mortgage on mortgage rates. they forecast those to go up more than they would have done had the tories stayed in charge under their march budget forecast. so a big choice here, made by this government , michelle, to put the government, michelle, to put the state in charge of this country in a way that hasn't been seen for many years. what we'll find out shortly is whether it works. >> interesting stuff. christopher. thank you very much for that. do get in touch with me. as i said at home. email me if you want gbviews@gbnews.com is the email. go to the website gb news dot com slash yours. or of course you can tweet or text me. but look i mean there is so much to unpick. so we're going to go through 1501 00:09:55,816 --