Interview with Rachel Reeves Shadow Chancellor

The transcript discusses Labour's plans to invest in transport across Northern England and devolve more powers to metro mayors. It highlights a proposal to reduce VAT on gas and electricity bills from 5% to 0% for six months to alleviate the cost of living crisis. The funding for this VAT cut would come from higher-than-expected Treasury receipts. Labour's budget priorities include addressing the cost of living crisis, supporting businesses, tackling climate change, and promoting domestic production.

What is the main reason for devolving more powers to local metro mayors according to the speaker?

• To reduce the workload of Whitehall

• To allow local decision-making

• To increase local tax revenues

• To improve international relations

What temporary measure does Labour propose to help with rising energy costs?

• Provide free energy for six months

• Increase energy subsidies

• Reduce VAT on energy bills to 0%

• Introduce a new energy tax

How does Labour plan to fund the proposed VAT reduction on energy bills?

• By cutting other public services

• By increasing income tax

• Using higher-than-expected VAT receipts

• By borrowing more money

What are some of the long-term challenges Labour aims to address if they were in charge of the budget?

• Improving public transport

• Expanding the military

• Addressing the climate crisis

• Reducing the national debt

What is one of Labour's priorities in their proposed budget plan?

• Building new schools

• Reducing the number of public holidays

• Easing the cost of living crisis

• Increasing foreign aid