On Radio 5 this morning

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I am on Radio 5 this morning, live sometime between 7.35 and 8, meaning that as I type I am sitting waiting for the phone to ring sometime soon.

I was invited to contribute to their breakfast show's 'In my opinion' spot yesterday. They suggest the topic. In my case it was 'Why I do not think there should be an income tax cut in this budget'. If I agreed, I was offered the chance to say why and offer an alternative opinion in one minute, at most.

This is what I recorded:

Hi Rick and Chris, I'm Richard Murphy. I'm Professor of Accounting Practice at Sheffield University Management School and in my opinion the Chancellor should not do a blanket cut to income tax tomorrow.

The chancellor has £13 billion pounds to spend in his budget.

That could give every taxpayer in the UK a £300 pound tax cut but, that's not a good idea. The poorest people, who don't pay tax, will not benefit. For me, that's a big problem. What's more, the richest people, who don't need this money will benefit. That makes no sense.

So, he should do three things. He should be generous with benefit increases.

He should also provide more support for gas and electricity bills for those who really need it.

And he should invest money into making our schools and hospitals safe when so many are falling down at present.

Those things would be a much better use of money than a general income tax cut.

The recording was 1.04 - which was close enough.

The recording is played twice - once already being out. The other will be soon.

My aim was threefold. First, it was to tackle inequality.

Second, it was to direct funds in a way that income tax cuts cannot.

Third, it was to promote the need for investment.

I did not get the chance to promote tax increases and other spending plans. One minute is very tight.

So far I think it was worth doing. I will see how the live session goes.

PS: I think the live session went well.

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