Pod Save the UK Halloween budget: trick or treat? w/ Torsten Bell MP, Grace Blakeley & Katie Schmuecker
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Oct 31, 2024 Grace Blakeley, an economic commentator and author, dives into the chilling details of the new Halloween budget, exploring tax changes and public service impacts. Katie Schmuecker from the Joseph Rowntree Foundation discusses vital reforms for sick and disabled individuals and low-income renters. Labour MP Torsten Bell shares his concerns about potential economic threats lurking in the shadows. This lively conversation weaves together humor, critical insights, and urgent discussions on poverty and economic growth, set against a spooky Halloween backdrop.
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Increase The Minimum Wage
- Raise minimum wage levels to immediately support low-income workers.
- Reeves increased the national living wage and removed reduced rates for 18–20 year olds, boosting take-home pay.
Universal Credit Deductions Reduced
- Reeves cut maximum UC deductions from 25% to 15%, easing hardship for people repaying advances or debts.
- Katie Schmuecker welcomed this but wanted a legal minimum to prevent dangerously low benefit payments.
Unclear Cuts Risk Disabled Hardship
- The government still plans £3bn savings related to sickness/disability benefits but hasn't detailed how.
- Katie warns unclear reforms risk increasing hardship for disabled people who already face higher poverty rates.