BBC Breakfast host Ben Thompson was back presenting the hit morning show alongside Sally Nugent and Carol Kirkwood when he delivered a major update on the UK’s finances
BBC Breakfast host Ben Thompson abruptly broke into the show to deliver a significant update, stating: “in the last few minutes.”
On Wednesday’s episode of the popular BBC programme, Thompson shared hosting duties with co-star Sally Nugent as they discussed the week’s trending stories.
Weather presenter Carol Kirkwood was in the studio for her usual segment, but as she concluded, Ben interjected, saying: “Now 12 minutes past seven and in the last few minutes there has been an official update on the UK’s finances.” He added: “They tell us how much debt the country is in as a total.”
Sally chimed in: “Yes, the figures from the Office for National Statistics indicate how much wiggle room the new chancellor Rachel Reeves will have when she sets out spending plans in the Autumn,” reports the Express.
The duo were then joined by finance correspondent Ben Boulos, who provided further details on the news.
(Image: (Image: BBC))Ben elaborated: “Now this is a bit like the monthly statement you get from the bank and what it tells us is that in July the government spent 3.1 billion pounds more than it has coming in – in taxes and it has added to the total debt that accumulated over the years.”
He disclosed: “It is the biggest it has been since the 1960s and it’s worth almost the same as the total value of all the goods and services that are made and sold in the economy.”
“The chancellor Rachel Reeves will be setting out her first budget and spending plans and we know that some services will be protected like health and education but today’s figures show that there is going to be a bit of a squeeze on how much is available to spend on other things.”
(Image: (Image: BBC))
The finance expert continued: “It’s not unusual for the government to spend more than it has coming in but self imposed tax rules means that the government has to show that over the next five years it’s got a plan to rain that in.”
“This looks like the government is going to have to make some tough decisions on cutting spending on some departments and we will get the details on that in the budget in the Autumn.”
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