Winter fuel payments to go to 7.5 million more pensioners after major U-turn, Rachel Reeves announces
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00:00Chancellor, the original Winterfell decision last year may have made sense in your spreadsheets in the Treasury,
00:06but where was your political antennae? It just hasn't survived contact with actual voters.
00:11How did you misjudge the reality of people's pensioners' lives so badly?
00:16I had to make urgent decisions last year to put the public finances back on a firm footing.
00:22We inherited a £22 billion in-year black hole in the public finances.
00:28I was always clear that the number one priority of this government was to return stability to the economy.
00:34We did that with a number of difficult decisions, but because of those decisions, our public finances are now in a better position,
00:42which means that this year we're able to pay the Winterfell payment to more pensioners, so £9 million will receive it this year.
00:49Isn't it verging on fake news to claim that the economy is substantially better?
00:54The OBR halved growth in March. The OECD downgraded Britain just a week ago.
01:00It's just not true that we're in a better position.
01:02Well, the Office of Budget Responsibility increased the growth forecast for every other year in the forecast.
01:09They said that our reforms to the planning system would make the economy £6.8 billion bigger, bringing in additional tax revenue as well.
01:17And in the first quarter of this year, we were the fastest-growing economy in the G7.
01:22There's still work to do to ensure that the sums always add up.
01:26But because of the decisions that we've made, because of the stability we've returned to the economy,
01:32we are now able to pay the Winterfell payment to more pensioners.
01:36We're not going back to the universal system.
01:38I don't think it is right that the very richest pensioners have their fuel bills subsidised,
01:43but this year 9 million pensioners will get the Winterfell payment.
01:47Finally, Chancellor, there's a pattern post-local elections.
01:50The Labour left shouts and you crumble.
01:52Winterfell gone without you telling us how you're going to pay for it.
01:55Two-child benefit cap being junked.
01:58Disability cuts softened.
02:00You're cosplaying fiscal discipline.
02:03Isn't this the worst nightmare of the markets?
02:05They are learning that you can't say no to your MPs.
02:08I set out the spending envelope in the budget and the spring statement this...
02:13..and we'll be setting out the spending settlements for every government department
02:17based on that envelope that we set in the budget and the spring statement.
02:22And markets and the public will be able to see public services living within their means,
02:27living within the totals that we set out this week.
02:29So that's the best investment in the future.
02:31Let's see.
02:32I think I'm happy.
02:34Will you continue to do this?
02:34Let me do it.
02:35Let me do it.
02:41Take me, please.
02:41Let me trust you.
02:42If you are the one who wants to do it,
02:44please come and let me.
02:45Please go.
02:46Please go.
02:47Please come and listen.
02:48How can I?
02:50Please come and listen.
02:51Please come and listen.
02:52Please come and listen.
02:52Please come and listen.
02:54Please come and listen.