The Budget Explained: 7 Big Things You (May Have) Missed - TLDR News

Yesterday, Chancellor Rishi Sunak unveiled his new Budget (well unveiled the parts that hadn't already been pre-announced). In the speech we learned about the government's plans to adjust universal credit, taxes on alcohol, support small businesses, and more. So in this video we rundown what happened, the context of the announcement and highlight some things you might have missed.

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00:00 - Intro
00:31 - Context
04:17 - Inflation Control
06:20 - Improving Public Services
07:06 - Local Government Spending
07:45 - New Skills
08:30 - Changes to Tax on Alcohol
10:14 - Business Rates
10:33 - Fuel Duty & Flights
11:06 - Universal Credit
11:56 - Conclusion

[napoleonibonaparte]

I see Jack benefiting from the lower beer prices.

[george]

Love how the pint just gradually becoming empty, looks as if it’s drinking itself

[davemalone]

“Leveling up” one of the most vague terms ever used in connection to politics.

[spidey]

Paul Johnson of the Institute of fiscal studies: 'Over the next year a median earner will find their pre-tax pay just about outpaces inflation, but after the extra income tax and NICs due their take-home pay will fall by about 1%, or £180 per year, in real terms.'

Brits love to make themselves suffer

[pauliusd]

France: Bans domestic flights if you're able to get there within 2.5 hours by train.
UK: Makes domestic flights cheaper.

....uhm okay

[davidrgilson]

Wait, I thought "department for levelling up" was a joke - then I find it's not. What the hell?

[legomovieman]

Can't believe the tories are **only** throwing £453 at preventing crime. Smh

[swanchamp]

I swear Rishi referred to domestic flights as a daily living cost like the majority of the country just flies everywhere every day internally.

[JerzyFeliksKlein]

What are the chances that the "leveling up" money for local governments will go predominantly to constituencies which voted Tory?

[Pyromaniac]

Could you perhaps make an explainer video about ministerial code? How does it work? What are the repercussions if it is broken? Who is in charge of enforcing it? We've heard a lot in the news recently about 'breaches in ministerial code' but the impression I'm getting is that no-one cares or does anything about it. Similar to how breaches of international law sound like a big deal but often seem to be pretty meaningless.

[beleg]

If the pubs didn't charge so much more people would choose not to drink at home.

[bugbloke]

Has Jack created his own video progress bar with a pint of Five Points Pale?

[rickybojangles]

Cheaper internal flights, so encourage people to fly instead of using a more environmentally friendly mode of transport.

Alcohol duty should be purely based on percentages rather than alcohol type, this would simplify it even further.

[NiallEveritt]

I'm so grateful for this channel. Really helps me parse the general mess of the world.

[SirEnVo]

Ahhh what a way to keep me entertained whilst work is dead for a minute 💙

[XaurielZ]

Wait a sec, they actually put "leveling up" in the name of a government department? That is hilarious

[Xamimus]

I'm (mostly) impressed from a government i *personally* don't like.

[JjustBoy]

As always, amazing video. Your my go to for news.

[lennon]

It is parliamentary tradition that whilst making the Budget Speech the Chancellor may drink whatever he or she wishes, including alcohol which is otherwise forbidden.

[MrMGN]

Cuts to taxes on domestic flights is an odd one but I see where the government is coming from. Since wining those redwall seats this government is desperate to show that it can integrate this country and that not all money needs to be concentrated in the South. The current state of transport being what it is, it's prohibitaly difficult or expensive to "pop up north" or visa versa. My mother in law lives in Sunderland, and as we are in Kent, seeing her means either a whole day of driving or almost a weeks average persons wages for the two of us to go up by train. Cheap flights provide a temporary alternative until a more sustainable option can be made.