have a once very closely with a large number of you in almost five months that i been trust of the exchequer. i have had the opportunity for three years that i will sell work with many of you before that but we want to give that carpet —— partnership and engagement and governments to make sure that we get we get extra work for our economy so that it will work for your businesses and we can achieve what i think is now a national mission shared between all of us in this room to grow our economy and realise our potential as a country. so the our potential as a country. sr the messages get involved? indeed. 50 the messages get involved? indeed. ., the messages get involved? indeed, ., ., the messages get involved? indeed. ., ., ., indeed. so go to the for question- _ as you have alluded to, many businesses are disappointed with— businesses are disappointed with your decisions. many here are feeling milked. haven't you betrayed — are feeling milked. haven't you betrayed them with your tax rates? — betrayed them with your tax rates? you said you want to draw — rates? you said you want to draw a _

the labour governments of the 1990s and 2000s — gordon brown, who was first the chancellor of the exchequerly with john prescott for many years. here's his tribute to his late colleague. it's so sad. he was a friend and colleague, but also a political colossus. he was a labour titan. political colossus. he was a labourtitan. he political colossus. he was a labour titan. he was one of the all—time greats. he had passion, he had courage, and was determined to get things done. he believed that if he managed to achieve opportunities because he was able to deliver his potential, everybody should get the chance for these opportunities. that motivated him in his political career. . , ., career. that period in government, - career. that period in government, how - career. that period in - government, how important career. that period in _ government, how important was the role ofjohn prescott? he the role ofjohn prescott? he was a great _ the role ofjohn prescott? he: was a great guy because you have to remember, because people talk about what he said, what did he do? he transformed our view of cli

. >> jeffrey: i would offer you like champion of the exchequer at least. >> stephen: i would do the exchequer willing to do one, if i got a good ambassadorship, i would drop the show in a minute. someplace tropical. >> jeffrey: you know what i might accept, head of the coast guard. i like boats. what more do i need? >> stephen: i want to be secretary of defense because i like khaki. >> jeffrey: that's all it takes. you are qualified apparently. >> stephen: i would rather you. lovely to see you. thank you so much for being h here. "the agency" premieres next friday on paramount+ with showtime. jeffrey wright, everybody. we'll be right back. - man, i need some serious help with this health insurance stuff. - check out covered california. it's a free service from the state that helps you get health insurance. millions of people have used it. - wait, for real? - mmm hmm, they even offer financial help to lower the cost. - nooo... how you know about all this? - that's how i got my insurance. i got a great plan for about $10 dollars a month. - okay, i see you. - if you've got questions, covered cal

that we were looking at the public finances and the inheritance that i faced as chancellor of the exchequerre pretty dire in terms of that coal in the public finances. in the budget in october, i had to make a number of difficult decisions. if i had not to make those difficult decisions, we were not to be able to make the stability back to the economy that is desperately needed. think about people who are here today, there will be times where you will have gone into a business as chief executive or cfo and you found that the sums do not really add up and you need to take quite drastic action to put the company that you work for back on a firm footing. that is what i did in the budget in october. we have now drawn a line under the inheritance that i faced. public finances are now on a firm footing and also, our public services are funded in a proper way. we have now set the envelope for those public services for the rest of this parliament which means you are not going to have 1534 00:19:49,293 --> 00

it was once in a parliament _ the exchequer.n. it was a budget slate clean. it was a budget that— slate clean. it was a budget that tackled two elements in our plan _ that tackled two elements in our plan for economic growth. first. — our plan for economic growth. first. it— our plan for economic growth. first, it provided economic stability _ first, it provided economic stability. by putting our public _ stability. by putting our public finances back on a firm footing~ — public finances back on a firm footing. that required difficult choices on spending, on welfare, and on tax. but by making — on welfare, and on tax. but by making those tough choices now, we are _ making those tough choices now, we are providing stability for the long _ we are providing stability for the long term. because instability in our public finances leads to instability in our— finances leads to instability in our financial markets. that is not — in our financial markets. that is not good for investment. that— is not good for investment. that is not goo

inherited a £22 billion black hole from the previous government, and the previous chancellor of the exchequercult the problem would be when we were coming into government. but this government's commitment to farming and to farmers is absolute. that's why we've allocated £5 billion to farming in the budget. that's the biggest amount of money in our country's history for sustainable food production. but we have to plug that £22 billion black hole in our public finances. otherwise we can't fix our public services like the broken national health service. so it's only right that we've had to ask the wealthiest landowners and the biggest farms to pay their fair share. but i would emphasise, only around 500 farms will be affected. the vast majority of farmers will pay no more under the new scheme than they do under the current one. farmers up and down the country are saying that when they get this bill, which they weren't expecting, it could put them out of business. do you accept that it will put some farms out of business? and what do you say to those people who are worried about it? well, the vas

first step, a female counselor of the exchequer. a career defining moment, outlining the blueprint for change. the label promised joe in the health counting the cost london. well, that's how some brits feel about the nation's economic situation in the state to come today when it's been running down. so yeah, is, uh, what local governments and nothing is we can go from the yes and you know, how local authorities. oh, managing. i don't know because there's no monday i told it would be a good idea or if we just go the rich to pay. i think that it's in a pretty darn state. public sector is having difficulties. i don't think it's correct, but west reaching is saying that the internet chest is broken because of the very good people, the walking that i'm doing. that's savvy. best thoughts? there is pool management in certain areas. so in a very difficult position anyway we've, we need to do spend, we need to spend money on the economy. so whoever was in power to make some commitments, take me to the public site regarding again, so it's gon

it should be a recipe for growth and for ray to read, springs 1st step, a female counselor of the exchequer. a career defining moment outlining the blueprint for change. the label promised children health counting the cost london as well. that's how some brits feel about the nations economic situation. the state to come today when it's been running down to yes. what team? local governments and nothing. we can go from then. yes. and you know how low close to ortiz? oh, managing. i don't know because there's no monday i told it would be a good idea or if we just don't the rich to pay, i think that it's in the proceed. doris states, public sector is having difficulties. i don't think is correct. but west reaching is saying that the a net chest is broken because a lot of very good people are walking that i'm doing that survey. best thoughts. there is pool management in certain areas. go into very difficult position. anyway, we've, we need to do spend, we need to spend money on the economy. so whoever was in power to make some commitments, take the to the public site to get the economy guy and a

their top bankers in britain are arriving here to hear it, both from the chancellor of the exchequerland governor. intriguing, somebody like andrew bailey, when we interviewed him and asked him to analyse the economic impact of brexit, he has tended to be a little shy in the past, but not tonight at this key dinner where he will say there have been consequences to brexit particularly affecting goods and trade, and that britain must be alert to an welcome opportunities to rebuild relations with the european union. now, ina rebuild relations with the european union. now, in a way, that is a statement of what is the government policy, but this comes at an extraordinary time in world trade diplomacy. obviously the election of donald trump as president of the us has raised fears and concerns about the application of trade tariffs on all trade into the us, and there is all trade into the us, and there is a scenario, i have heard it myself, from donald trump's advisors over the last few years that a country like the united kingdom has to sort of choose whether to be closer to the us or clos

exchequer secretary to the treasury james murray said the existing features of the inheritance tax system will still apply. >> this means in practice is that in most cases, if you have a couple who are passing on a to farm their to the next generation, they will get 2 or £3 million, which is not subject to inheritance tax. so above that, 2 or £3 million to pay no inheritance tax on that first 2 or £3 million above that, the rate will be half what it is for everyone else. >> in other news, the joint investigation from both channel 4 and the sunday times has revealed the full details of the property estates owned by the king and prince william. the investigation shows the vast array of commercial property the royal family has built up from the time of medieval monarchs. their contracts with public bodies are said to include a £37 million agreement with the ministry of justice, and an £11.4 million deal with guy's and st thomas nhs trust. a spokesman for the duchy of cornwall said it was a private estate with a commercial imperative, while the duchy of lancaster said their business complies

not lona aao, chancellor of the exchequer. not long ago. she — chancellor of the exchequer.weird? qt people are going to be unhappy, does that feel a bit weird?— that feel a bit weird? of course there the chancellor needs firms like this to grow. her trade, something of a family business. mr; to grow. her trade, something of a family business.— to grow. her trade, something of a family business. my sister caught my e e at one family business. my sister caught my eye at one point. _ family business. my sister caught my eye at one point, and _ family business. my sister caught my eye at one point, and my— family business. my sister caught my eye at one point, and my mum i family business. my sister caught my eye at one point, and my mum and l family business. my sister caught my i eye at one point, and my mum and my stepdad were up in the gallery, my mum 45 years ago would never have believed that one day i would be chancellor of the exchequer, i hope i make her proud.— i make her proud. what did she say to ou i make her proud. what did she say to you after? _ i make her proud

footing when challenged by camilla tominey on the inheritance tax changes , inheritance tax changes, exchequer secretary to the treasury james murray said that the existing features of the inheritance tax system will still apply. >> this means in practice is that in most cases, if you have a couple who are passing on a farm to their to the next generation, they will get 2 or the brent east new tory leader. the brent east mp has since deleted the repost from her profile. neither downing street nor dawn butler have made any comment on the post, while camilla tominey asked former conservative chancellor kwasi kwarteng about it a short time ago. >> he's a race baiter. why is she still got the whip.7 >> look, that's up to labour. i mean, do you think genuinely, i genuinely think that given what she said, she should have the whip removed from her. there should be some discipline and some disciplinary measure against this kind of really hateful device. >> i was reminded of the fallout from rachel reeves budget continues today, as she explained that the money raised through changes to inheritance tax

it would cost the exchequer about £1 billion a yean exchequer about £1 billion a year, over half of thatt went to 63 estates in the country , with an average value country, with an average value of about £8 million. the new scheme that we've designed still gives you the first million pounds tax free, and then for value over that, you get a 50% cut in the headline rate of inheritance tax at 20%. for a married couple who pass down their house and the land to their house and the land to their children , they still get their children, they still get £2 million exempt from inheritance tax altogether, which does cover the vast majority of small and medium farms . farms. >> rescue teams are continuing to search for bodies after flash flooding swept through large areas of spain. the spanish government has confirmed 158 deaths in the valencia region alone. crews are continuing to search for bodies in stranded cars and buildings following the floods, as authorities deal with the worst flooding in the country in decades. dozens are still missing. the floods have battered valencia's infrastructure,

the last week has not been easy for the chancellor of the exchequer. retailers warn that her decision to increase employers national insurance contributions would destroy jobs and farmers descended on london to protest against her changes to inheritance tax on farms, handed down from one generation to the next. rachel reeves also stands accused of exaggerating her banking experience on her curriculum vitae. i'll ask my panel how damaged she is. the late george carman qc was described as britain's most famous barrister, defending pubuc famous barrister, defending public figures including jeremy thorpe, elton john, ken dodd and richard branson. he brought down tory mp jonathan aitken and neil hamilton. a new book on him, written after carefully collecting fragments of court transcripts, letters and papers, has just been published and its author, karen phillips, who was his close friend will join me in the studio. the london jazz festival is taking the south bank by storm and closing the festival. today is the dirty dozen brass band, an ensemble from loui

of the exchequer who, frankly, has been picked up on on various indiscretions before the wikipedia copyat was in her her book. and now this sort of cv embellishment is this becoming a bit of a problem embellishment is this becoming a bit of a pr

exchequer secretary to the treasury james murray said that the existing features of the inheritance taxystem will still apply. >> this means, in practice is that in most cases, if you have a couple who are passing on a farm to their to the next generation, they will get 2 or £3 million, which is not subject to inheritance tax. so above that 2 or £3 million. so pay no inheritance tax on that first 2 or £3 million above that, the rate will be half what it is for everyone else. >> elsewhere, a joint investigation from both channel 4 and the sunday times has revealed the full details of the property estates owned by king charles and prince william. the investigation shows the vast array of commercial property the royal family has built up from the time of medieval monarchs. their contracts with public bodies is said to include a £37 million agreement with the ministry of justice and an 11.4 million deal with guy's and saint thomas's nhs trust. a spokesman for the duchy of cornwall said that it was a private estate with a commercial imperative, while the duchy of lancaster said that their bu

when challenged by camilla tominey on the inheritance tax changes , inheritance tax changes, exchequer secretary to the treasury james murray said the existing features of the inheritance tax system will still apply. a joint investigation, both from channel 4 and the sunday times, has revealed the full details of the property estates owned by the king and prince william . the king and prince william. the investigation shows the vast array of commercial property the royal family has built up over the time of medieval monarchs. their contracts with public bodies are said to include £37 million agreements with the ministry of justice, and an £11.4 million deal with the guy's and st thomas's nhs trust. a spokesman for the duchy of cornwall said it was a private estate with a commercial imperative, while the duchy of lancaster said their business complies with all relevant uk legislation and regulatory standards. well, that comes as prince william travels to south africa this week for his earthshot prize award ceremony. the prizes hope to recognise environmental solutions to repair the plan

i'm joined now in the studio by my magnificent panel as the former chancellor of the exchequer and conservativekwasi kwarteng, and the former labour mp lloyd russell—moyle. gentlemen, welcome to the studio. let's just go through a few of the points. i watched this speech earlier on. i was astonished. but look, let's go through what the solutions are. number one, a review of the echr and the human rights act. a review, not not an actual action to leave two strict numerical caps on immigration. chris hope asked for a number. there wasn't a figure . there was a framework. figure. there was a framework. three fully transparent costs on benefits and housing. what is costing the country for zero tolerance for foreign criminals with a view to deporting them. if necessary, and 0.5 to review the data on accessing to benefits. kwasi kwarteng this. all of this could have been done in the past 14 years. isn't it a bit rich to suddenly talk tough now you're facing down the barrel of just being in the wilderness for years. but what are you meant to do as an opposition? you've made made mistakes in government

when challenged by camilla tominey on the inheritance tax changes, exchequer secretary to the treasury james murray said the existing features of the inheritance tax system will still apply . inheritance tax system will still apply. now a joint investigation from both channel 4 and the sunday times has revealed the full details of the property estates owned by the king and prince william. the investigation shows the vast array of commercial property the royal family has built up from the time of medieval monarchs. their contracts with public bodies are said to include £37 million agreements with the ministry of justice, and an £11.4 million deal with guidance. saint thomas's nhs trust. a spokesman for the duchy of cornwall said it was a private estate with a commercial imperative, while the duchy of lancaster said their business complies with all relevant uk legislation. well, that comes as prince william travels to south africa this week for his earthshot prize award ceremony, and that prize is hoped to recognise environmental solutions to repair the planet . solutions to repair the p

i'm going to be speaking to the exchequer secretary to the treasury, james murray, and asking him what he makes of all the backlash against labour's first budget. i'll also be joined by julia lopez, shadow secretary of state for culture, media and sport, who was a driving force in the campaign that propelled kemi badenoch to victory over robert jenrick yesterday. i'm also going to be joined by former chancellor kwasi kwarteng, who will be sharing his thoughts on what his successor, rachel reeves, announced on wednesday. will it prove to be as catastrophic as his own mini—budget.7 or even worse? and mini—budget? or even worse? and ahead of the presidential elections next week, we'll be speaking to conor burns , former speaking to conor burns, former trade envoy to the us for regional trade and investment. we've got once again 90 minutes of punchy politics ahead, so don't go anywhere . don't go anywhere. right, let's get stuck into the sunday papers this morning. i'm delighted to be joined by james heale, who's the spectator's political correspondent. james, lovely to see you. this morni

. >> when challenged by camilla tominey on the inheritance tax changes, exchequer secretary to the treasury james murray said the treasury james murray said the existing features of the inheritance tax system will still apply. >> this means in practice is that in most cases, if you have a couple who are passing on a to farm their to the next generation, they will get 2 or £3 million, which is not subject to inheritance tax. so above that, 2 or £3 million. so pay no inheritance tax on that first 2 or £3 million above that. the rate will be half what it is for everyone else . everyone else. >> now, a joint investigation from both channel 4 and the sunday times has revealed the full details of the property estates owned by king charles and prince william. the investigation shows the vast array of commercial property the royal family has built up from the time of medieval monarchs. their contracts with public bodies are said to include a £37 million agreement. with the ministry of justice and 11.4 million deal with the guy's and st thomas's nhs trust, a spokesman for the duchy of cornwall said

and kwasi kwarteng, former conservative mp and former conservative mp and former chancellor of the exchequerthis all go back to equalities acts at the end of the labour government? i mean, what is the root of all of this in your view? >> well, i think that there is some of it around going back to equalities and anti—racism, all that kind of stuff. >> but i think that it has got here out of hand. i don't actually think. i think it's got out of hand on all sides. if you remember the crown prosecution service prosecuted the woman who had a placard that said rishi sunak was a coconut. she was brown herself and they prosecuted her, took her unpleasant thing to say but shouldn't be a crime. took her to court and the court found that the crown prosecution service did a wasted public money, had found a completely innocent. but of course, that meant that she was a teacher. she lost her job in that period. she lost herjob in that period. it uprooted her family. the same on the other side. i mean, we don't know what you said in this instance, but the same on the other side. to me, it seems that we shou

tonight we'll speak live to the exchequer secretary to the treasury about today's farmers�* protests,ew development in their decision to means—test winter fuel payments for pensioners. first, farmers came to westminster to try and persuade the government to ditch its plan to make some farmers pay inheritance tax of 20% on farms worth over £1 million. some told me it would mean they'd be forced to sell their farms because they wouldn't be able to afford to pay it. farmers were a mixture of furious and anguished and bewildered. jeremy clarkson was amongst them. so why are you here, mr clarkson? well, because... i'm here to support farmers. right. are you angry? it's difficult to be angry om somebody else�*s behalf. that's like being... yes, no, i'm notangry on someone else�*s behalf. right, so it's not about you? no. it's not about your farm and the fact that you bought a farm to avoid inheritance tax? classic bbc, there. classic. is it? oh, yeah. it's not the fact that... the fact that i bought a farm to avoid inheritance tax. the fact. you told the sunday times in 2021 that's why you