‘It’s anti-middle class’: How Chancellor Healey failed his first Budget

In Wednesday’s episode of The Daily T, Tim Stanley and Jacob Rees-Mogg are joined by financial journalist and host of the Investing Unlocked podcast Georgie Frost to react to John Healey’s maiden Budget as Chancellor. Speaking immediately after the Chancellor’s speech, Tim welcomed some of the measures, such as the winter fuel payment, but criticised how Mr Healey was funding it, saying that the increased taxes on landlords and banks “are essentially a raid on the asset-owning middle classes”. On the issue of military spending, Jacob was critical, saying: “He’s got no more on defence than there was when he resigned. And yet he’s staying in office and in charge of it. That’s a pretty awkward position for him to be in.”

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Producer: David Levene

Senior Producer: Emma Williams

Studio Operators: Meghan Searle & Chris January

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Editor: Camilla Tominey

Highlights:

• Tim Stanley, Jacob Rees-Mogg and Georgie Frost react to Chancellor Healey's first Autumn Budget
• Tim, Jacob and Georgie discuss whether the Chancellor's Budget points to an early general election
• Tim, Jacob and Georgie deliberate whether the Chancellor should resign after failing to meet the 3pc defence spending target he resigned over as Defence Secretary

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