1 00:00:00,040 --> 00:00:03,080 Speaker 1: Devin Gray is a UK corresponding with us. Now, Hey, hey, Gavin, 2 00:00:03,120 --> 00:00:04,160 Speaker 1: Heppy budget day to you. 3 00:00:04,280 --> 00:00:05,000 Speaker 2: I've ever. 4 00:00:07,320 --> 00:00:08,880 Speaker 1: Hi, Yeah, yeah, I feel like I've got to say 5 00:00:08,880 --> 00:00:10,680 Speaker 1: it again, Heppy budget Day to you, because I feel 6 00:00:10,680 --> 00:00:12,360 Speaker 1: like it's not it's not going to be a Heapy 7 00:00:12,360 --> 00:00:13,119 Speaker 1: budget day, is it. 8 00:00:13,920 --> 00:00:17,280 Speaker 2: No? I suspect it won't be. And this is something 9 00:00:17,320 --> 00:00:21,520 Speaker 2: the government has been giving briefings to counter briefings U 10 00:00:21,560 --> 00:00:24,119 Speaker 2: turn speculation about what's going to be in this the 11 00:00:24,200 --> 00:00:28,159 Speaker 2: Chancellor laying out her plan for the economic future of 12 00:00:28,160 --> 00:00:31,600 Speaker 2: the UK, both the income, the tax intake and also 13 00:00:31,680 --> 00:00:35,280 Speaker 2: the expenditure. And I've never known a budget so widely leaked. 14 00:00:35,320 --> 00:00:37,920 Speaker 2: And then so in some instances widely you turned. So 15 00:00:37,960 --> 00:00:41,360 Speaker 2: we think we're being softened up for tax rises, income 16 00:00:41,400 --> 00:00:43,760 Speaker 2: tax rises paid out of our salary. Then all of 17 00:00:43,800 --> 00:00:47,000 Speaker 2: a sudden, there's a screeching you turn on that. And 18 00:00:47,040 --> 00:00:49,400 Speaker 2: now it looks like they are going to keep the 19 00:00:49,560 --> 00:00:54,640 Speaker 2: thresholds for paying tax and tax at different levels frozen again. 20 00:00:54,920 --> 00:00:57,560 Speaker 2: So of course, as everyone earns a bit more, their 21 00:00:57,680 --> 00:01:00,560 Speaker 2: salary creeps up, and that means that some people will 22 00:01:00,560 --> 00:01:03,920 Speaker 2: now enter a new income tax threshold, a hire one 23 00:01:04,280 --> 00:01:07,240 Speaker 2: or indeed start paying tax where they've never paid it before. 24 00:01:07,680 --> 00:01:12,600 Speaker 2: It seems to be the least unpalatable solution, and the 25 00:01:12,640 --> 00:01:16,720 Speaker 2: government here desperately aware it is unpopular. The ratings of 26 00:01:16,760 --> 00:01:19,520 Speaker 2: the Prime Minister and the Chancellor are low, and many 27 00:01:19,560 --> 00:01:22,039 Speaker 2: in their own party are threatening to vote against what 28 00:01:22,160 --> 00:01:25,319 Speaker 2: they don't like. So this is a crucial moment in politics, 29 00:01:25,360 --> 00:01:28,600 Speaker 2: a crucial moment for the government. All the economic data 30 00:01:28,640 --> 00:01:31,280 Speaker 2: suggest tax rises, that tax take is going to have 31 00:01:31,360 --> 00:01:35,280 Speaker 2: to increase, and yet at the same time, the government's 32 00:01:35,400 --> 00:01:40,039 Speaker 2: plans for public spending on public services, healthcare, schooling, policing, 33 00:01:40,200 --> 00:01:43,760 Speaker 2: all has under huge pressure to rise. So this is 34 00:01:43,800 --> 00:01:47,400 Speaker 2: a real balancing act, not just economically but politically too, 35 00:01:47,520 --> 00:01:50,120 Speaker 2: with some predicting if it doesn't go down well with 36 00:01:50,200 --> 00:01:53,360 Speaker 2: the public and with MPs, then we could be looking 37 00:01:53,440 --> 00:01:55,120 Speaker 2: at a leadership battle. 38 00:01:55,240 --> 00:01:57,640 Speaker 1: Well that seems the most likely outcome, doesn't it. And 39 00:01:58,000 --> 00:02:01,120 Speaker 1: I've been scratching my head about this, Kevin, like, the 40 00:02:01,160 --> 00:02:03,800 Speaker 1: only way that she gets herself in Keostama out of 41 00:02:03,800 --> 00:02:05,320 Speaker 1: this hole is that there is some sort of an 42 00:02:05,360 --> 00:02:09,280 Speaker 1: amazing surprise in the budget that completely blows everyone away. 43 00:02:09,520 --> 00:02:11,280 Speaker 1: But there just isn't the money for that. So what 44 00:02:11,320 --> 00:02:12,200 Speaker 1: are the chances of that. 45 00:02:13,560 --> 00:02:15,880 Speaker 2: No, I think you're right. There isn't the money for that. 46 00:02:16,120 --> 00:02:19,640 Speaker 2: And there's all sorts of reports that Middle England, those 47 00:02:19,680 --> 00:02:22,800 Speaker 2: who earn not excessive amounts of money in average amount, 48 00:02:22,960 --> 00:02:26,120 Speaker 2: they are going to be taxed more, and that money 49 00:02:26,160 --> 00:02:28,720 Speaker 2: is going to go to those that don't work at all, 50 00:02:28,919 --> 00:02:32,600 Speaker 2: be that for ill health or be that for just 51 00:02:32,639 --> 00:02:37,799 Speaker 2: being unemployed. Certainly the demand is ever ever increasing, and 52 00:02:38,120 --> 00:02:40,480 Speaker 2: any signs that this government has ever shown to try 53 00:02:40,520 --> 00:02:44,200 Speaker 2: to reduce the benefits bill and reduce spending seems to 54 00:02:44,200 --> 00:02:47,680 Speaker 2: be overturned by its own backbenches. So there's a lot 55 00:02:47,760 --> 00:02:51,760 Speaker 2: going on here, and well everyone I suspect will be 56 00:02:51,800 --> 00:02:54,600 Speaker 2: glued to their radio in just under seven hours time 57 00:02:54,639 --> 00:02:56,720 Speaker 2: when it all starts. But as I said, a lot 58 00:02:56,720 --> 00:02:59,800 Speaker 2: of people as well saying, look, you've really leaked so 59 00:02:59,840 --> 00:03:02,000 Speaker 2: much much of this already, and that has had an 60 00:03:02,000 --> 00:03:05,120 Speaker 2: effect on the money markets. It's led to uncertainty, and 61 00:03:05,240 --> 00:03:09,880 Speaker 2: markets don't like uncertainty, and they are solely to blame 62 00:03:09,919 --> 00:03:12,519 Speaker 2: for doing that, and that should not have been something 63 00:03:12,560 --> 00:03:13,760 Speaker 2: which this government embarked. 64 00:03:13,800 --> 00:03:16,880 Speaker 1: Bomb Even have they arrested more people over this heist 65 00:03:16,880 --> 00:03:17,160 Speaker 1: with the. 66 00:03:17,120 --> 00:03:21,960 Speaker 2: Louver, yes, they have now Heather. There are four extra 67 00:03:22,040 --> 00:03:26,040 Speaker 2: people have been arrested. They are aged two men thirty 68 00:03:26,040 --> 00:03:28,679 Speaker 2: eight thirty nine, two women thirty one and forty, all 69 00:03:28,680 --> 00:03:31,600 Speaker 2: from the Paris region, and according to the French media, 70 00:03:31,680 --> 00:03:34,400 Speaker 2: among them is thought to be the last member of 71 00:03:34,560 --> 00:03:38,240 Speaker 2: the four man gang that allegedly carried out the daylight heist. 72 00:03:38,520 --> 00:03:42,080 Speaker 2: The other three suspected thieves have already been arrested and charged. 73 00:03:42,480 --> 00:03:45,720 Speaker 2: Police now have ninety six hours to question the new 74 00:03:45,800 --> 00:03:50,480 Speaker 2: group of four, but still no trace of the duels 75 00:03:50,480 --> 00:03:53,120 Speaker 2: has ever been found. Said to be worth about one 76 00:03:53,200 --> 00:03:56,560 Speaker 2: hundred and seventy five million New Zealand dollars taken on 77 00:03:56,600 --> 00:04:00,880 Speaker 2: the nineteenth of October, and it looks as well now 78 00:04:00,920 --> 00:04:05,760 Speaker 2: they are obviously believing that this was not some amazing 79 00:04:06,000 --> 00:04:10,680 Speaker 2: mastermind and incredibly experienced group. They actually believe them to 80 00:04:10,720 --> 00:04:13,240 Speaker 2: be sort of opportunists. But it seems so odd that 81 00:04:13,280 --> 00:04:18,240 Speaker 2: an opportunist should have a hydraulic lift on the back 82 00:04:18,279 --> 00:04:22,240 Speaker 2: of a lorry to try and access the gallery to 83 00:04:22,279 --> 00:04:25,120 Speaker 2: try and take these things out. So quite extraordinary that 84 00:04:25,120 --> 00:04:29,520 Speaker 2: they believe this is petty criminals rather than organized crime professionals. 85 00:04:29,640 --> 00:04:32,560 Speaker 1: Yeah, very fascinating stuff. Gavin Listen, good luck today. I 86 00:04:32,600 --> 00:04:34,560 Speaker 1: hope you come out of the day not feeling too miserable. 87 00:04:34,600 --> 00:04:37,240 Speaker 1: That's Devin Gray, UK correspondent. I imagine that we're going 88 00:04:37,279 --> 00:04:39,000 Speaker 1: to be talking a lot about the budget tomorrow. 89 00:04:39,600 --> 00:04:42,760 Speaker 2: For more from Hither Duplessy Alan Drive, listen live to 90 00:04:42,880 --> 00:04:45,919 Speaker 2: news talks. It'd be from four pm weekdays, or follow 91 00:04:45,960 --> 00:04:47,720 Speaker 2: the podcast on iHeartRadio.