Will a summer of discontent hurt the Tories or Labour more?
The New Statesman | UK politics and culture
The New Statesman
4.4 • 1.4K Ratings
🗓️ 27 June 2022
⏱️ 31 minutes
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Summary
As the official measure of inflation in the UK hits 9.1 per cent, Anoosh Chakelian is joined by the New Statesman business team, Will Dunn and Emma Haslett, to discuss why inflation is hitting the country so badly.
How much is Brexit making matters worse, and is inflation simply a worldwide problem? And what can the government do about it?
Then in You Ask Us, the panel answer a listener’s question on Labour’s lack of a clear response to the rail strikes.
If you have a question for You Ask Us, email [email protected]
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Transcript
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| 0:00.0 | Picture this, static cars, idling engines, angry horns, now picture you, zooming past |
| 0:12.4 | it all, light and breezy, ah, the sweet feeling of whizzing past traffic. |
| 0:21.0 | Take your train journey via vantewescoast.co.uk, a vantewescoast, feel good travel. |
| 0:36.3 | Hi, I'm Anouche. I'm Will. I'm Emma. |
| 0:39.2 | And on this episode of the New Statement podcast, we discuss inflation and all of its impacts. |
| 0:45.6 | And then in you ask us, why wouldn't Labour support workers striking for better pay and conditions |
| 0:50.2 | during a cost of living crisis? |
| 0:59.9 | I'm really happy to be joined by our business editor, Will Dunn. Well, we can't keep you |
| 1:04.4 | away from the New Statement podcast these days. Yeah, I'm not going to taste for the fame. |
| 1:08.2 | Yeah, you wait six years for me to come along and then I'm long twice in a one week. |
| 1:12.3 | Thanks for coming and Emma has lit as well from the business desk is also joining us. |
| 1:17.2 | And obviously we've been in bi-election fever. So we haven't really spoken about the strikes |
| 1:22.1 | or about inflation yet. So I'm really glad to have both of you here to chew over this stuff. |
| 1:26.4 | Last week, we heard that the UK inflation rate hit a new 40 year high of 9.1%. And that's |
| 1:32.0 | the highest rate in the G7. And of course, that coincided with the biggest rail strikes |
| 1:37.7 | that this country has seen in 30 years. First of all, let's talk about the numbers. |
| 1:42.4 | Obviously, the rate has slowed. Is this the peak of inflation or is there more to come? |
| 1:47.4 | Well, I don't think it is the peak. No. So the big one for the consumer prices is going to be the |
| 1:55.2 | next rise in the energy price cap, which will happen in October. That's going to take the energy |
| 2:01.0 | price cap. So the amount that an energy provider can charge the average household on a standard |
| 2:07.6 | variable tariff to nearly £3,000. And then there will be another rise in the price cap in Q1 |
| 2:14.5 | of 2023, which the energy analyst's Cornwall Insight predict will take the price cap over £3,000. |
... |
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