logo
episode-header-image
Sep 2024
31m 32s

How “painful” will the Budget be for you...

Financial Times
About this episode

With a £22bn ‘black hole’ in the public finances, the new chancellor Rachel Reeves has difficult decisions to make ahead of Labour’s autumn Budget next month. How might this hole be plugged, and where might tax rises land? In this episode, Dan Neidle, founder of think-tank Tax Policy Associates and former head of tax at Clifford Chance, considers which tax-raising levers the chancellor might pull on October 30, and puts forward a case for fairer, growth-focused tax policy.


For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse


If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Twitter, Instagram and TikTok. 


Want more?


Check out Claer’s column, What’s the chancellor’s next move going to be with my pension? 


Listen to more episodes of Money Clinic, such as What will the UK election mean for your money?, Isa season: how to build tax-free wealth, and more.


Presented by Claer Barrett. Produced by Tamara Kormornick with help from Mischa Frankl-Duvall. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.


Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.


Read a transcript of this episode on FT.com


Hosted on Acast. See acast.com/privacy for more information.

Up next
Apr 2025
Investment Clinic: Should I keep betting on Warren Buffett?
Fifty-eight-year-old Margo has amassed a very healthy retirement fund, in part by buying shares in Berkshire Hathaway, the investment company run by Warren Buffett. When even the ‘Sage of Omaha’ is reducing his exposure to certain US stocks, Margo wonders if it’s time for her to ... Show More
35m 16s
Mar 2025
Investment Clinic: I’m 29 – should I still be taking stock tips from my dad?
Matt started investing at just 22 with the help of his financial adviser father. Now, at 29, and with a wedding on the cards, he’s got an extra reason to be diligent about his money. Some of Matt’s stock picks (such as Glencore) haven’t been performing as he might like. Is it tim ... Show More
28m 43s
Mar 2025
Investment Clinic: I’m almost 50 – is it too late to start investing?
Forty-nine-year-old Jane has always been careful to squirrel money away, and a recent inheritance has boosted her nest egg to £125,000. But there’s one problem: it’s all in cash. Now, with half an eye on retirement, Jane wants to start investing but is unsure about how to do this ... Show More
32m 33s
Recommended Episodes
Oct 2024
Tax driver: Labour’s budget
Rachel Reeves’s first budget as chancellor of the exchequer saw the biggest tax rises in decades, as well as promises of high spending and investment. Our correspondent explains what the announcement means for Britain. How Hurricane Helene may affect the election in North Carolin ... Show More
22m 25s
Jun 2025
Reeves sets Labour’s course – but what will it deliver?
Labour’s long-awaited spending review dropped this week. Rachel Reeves unveiled funding settlements for government departments – and a newly upbeat tone after the gloomy promise of hard times in her previous Commons set pieces. The NHS and defence were prioritised but other depar ... Show More
34m 49s
Jul 2024
Labour confronts £20bn black hole
The chancellor Rachel Reeves is about to confront the British public with the size of the black hole in the country’s finances. A funding shortfall of about £20bn is likely to lead to tax rises at the Budget later this year. So — how to fix the problem? The FT’s political editor ... Show More
34m 40s
Jun 2025
Facing down a fiscal firestorm
UK chancellor Rachel Reeves has had an action-packed week. She made a U-turn on winter fuel payments, announced plans to spend billions of pounds on new transport schemes and, following the prime minister’s latest announcement, she now has to find yet more money to fund a rise in ... Show More
28m 51s
Oct 2024
New chancellor, new rules
Rachel Reeves has rewritten her fiscal rules on the eve of her seismic first Budget next week. She says her new borrowing rule will help get Britain building, but how will it go down with voters – and the markets? Meanwhile, Sir Keir Starmer is in Samoa, where a debate about repa ... Show More
37m 13s
Sep 30
Game on for the biggest leveraged buyout
Elon Musk’s business empire has been hit by a wave of senior departures over the past year, video games maker Electronic Arts is being taken private by a Saudi Arabia-backed consortium, and Downing Street has opened the door for Labour to break its election promises and raise tax ... Show More
9m 55s
Feb 2025
Taxes, Trump and Tariffs with Swaminathan Aiyar
Between finance minister Nirmala Sitharaman’s tax sops for the middle class and Donald Trump’s tariff missiles on three countries he really dislikes, it’s been a largely eventful three days. And as usual, The Morning Brief is buzzing with questions: From tax cuts and fiscal disci ... Show More
27m 25s
Sep 15
Losing the plot: Brazil-US relations tested
After Jair Bolsonaro was sentenced to 27 years in prison for trying to organise a coup in 2023, Donald Trump accused Brazil of staging a “witch hunt”. How will America respond? Niche sports like padel and tag are now attracting sponsorship and broadcast deals. And meet the real L ... Show More
24m 45s
Mar 2025
Will Rachel Reeves be forced into an emergency budget?
It’s been a week of political whiplash, including that infamous explosive meeting in the Oval office and renewed commitment from European leaders to back Ukraine. George Osborne and Ed Balls consider who - if anyone - has fared well in this wild week. Is Trump himself as the deft ... Show More
58 m
Oct 2
Nigeria’s pivot to solar power
Sales of Chinese electric-car maker BYD fell for the first time in 19 months in September, the US government shutdown is not likely to affect interest rates, and a fresh bout of jitters is shaking Argentina’s financial markets. Plus, a nascent solar revolution is taking hold in A ... Show More
10m 36s