But why is it always us having to suffer pain?

None of us can control whether the Strait of Hormuz opens or not, but yet we take the hit for it because in order to control inflation, interest rates go up and that's people with mortgages and even people who pay rent.

Donald Trump makes his truth social announcement, block capital letters

that he thinks there's going to be a peace deal with Iran. Fifty minutes before that, there are these

massive bets on the oil price falling and massive bets on share prices rising. We're all waiting to

see whether America remotely still has, you know, functioning regulatory institutions such

that a proper investigation takes place.

But I mean, the great worry about America, you know, actually, I said on ITV, it just isn't

a functioning democracy anymore. Hello and welcome to The Rest is Money with me, Robert Perston.

And with me, Steph McGovern.

Now, on the last podcast, we were talking about Richard Walker, who is the executive chairman of Iceland Foods. He's also the government's

cost of living champion, which he started in February this year. But we were talking about his

suggestion to put a cap on the profits of energy and oil companies to stop them cashing in.

So we thought, why not let's get him on to talk about this himself? So that's who we've got on the show today, Robert, isn't it? It is. And look, we've all got soaring or the potential for soaring cost of living on our minds because of Trump's war in Iran. Poor old Richard, he started when he thought the cost of living might be falling. Maybe it's easy.

Maybe he thought it would be easy to be our champion for the cost of living. But bluminole,

you know, it's a big job now. So we really want to know what Richard Walker is saying to the

Prime Minister about how to protect our living standards. So here's our interview with Lord Richard Walker.

Richard, great to have you back on the show.

You're now, I think, something like the Prime Minister's Cost of Living Champions.

I'm not quite sure the title is.

You can tell us what that is.

But I suppose where we wanted to start,

...