Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Starmer Warns of ‘Painful’ Budget to Rebuild UK Finances
Posted
August 27, 2024
Views
6,388
Likes
99
Comments
82
Engagement
2.83%
August 27, 2024
6,388
99
82
2.83%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
1:00Now PlayingKeir Starmer warned that his government’s October budget statement will be “painful” and asked the nation to accept “short-term pain for long-term good,” as the prime minister used his first major speech in office to lay the ground for likely tax rises.
“Things are worse than we ever imagined,” Starmer said in Downing Street on Tuesday, blaming the need to rebuild UK public finances on what he called “14 years of rot” under the previous Conservative government. “It’s going to be painful. We have no other choice, given the situation that we’re in.”
Starmer was speaking before Parliament returns from summer recess next week, marking the first proper opportunity for the new Labour administration to set out how it plans to govern after its landslide election victory in July. His remarks suggest the premier still sees political mileage in focusing on Labour’s challenging inheritance and that the British public will — for now — tolerate a more downbeat outlook before expecting improvements.
--------
Subscribe to our YouTube channel
Subscribe to Bloomberg Originals
Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
