Cost of living: Ryanair’s Michael O’Leary on the need to burn more oil and coal
This Is Why
Sky News
4.0 • 552 Ratings
🗓️ 30 August 2022
⏱️ 19 minutes
🧾️ Download transcript
Summary
On the Sky News Daily podcast Niall Paterson speaks to the airline boss about the economic pressures the country is facing and how he thinks the new prime minister should respond when he or she enters Number Ten.
On our next episode, Niall speaks to a pub chain chief executive and charity boss providing sheltered accommodation and care homes as we discuss their worries about rising costs on their business, their staff and the people they serve.
Senior podcast producer: Annie Joyce
Interviews producer: Alys Bowen
Archive researcher: Rob Fellowes
Editors: Paul Stanworth and Philly Beaumont
Transcript
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| 0:00.0 | It would take a brave, perhaps foolhardy, chief executive, to claim that in this cost of living crisis, we are all in it together. |
| 0:11.8 | Because of course, we're not. |
| 0:14.1 | Those least well-off in society will suffer far, far more than any captain of industry or charity boss or even podcast hosts for that matter. |
| 0:25.0 | But whilst there has been an undeniable focus, including on this podcast, on food banks and fuel bills, |
| 0:33.4 | and the daily struggles of those who literally count the pennies. |
| 0:37.5 | I can boil the kettle in the day. |
| 0:40.0 | It is literally always on my mind. |
| 0:43.1 | What those at the top of bigger businesses do doesn't simply trickle down. |
| 0:48.6 | It influences often dictates the conditions that the poorest live in. |
| 0:54.1 | These chief executives provide our goods and services. |
| 0:57.7 | They provide our jobs and livelihoods. |
| 0:59.7 | They provide the tax that funds the police, the health service, the benefit system. |
| 1:04.6 | And, believe it or not, they're as worried about the cost of energy and goods as you are. |
| 1:11.9 | So I've been speaking to the chief exec of a pub chain with a thousand employees. |
| 1:16.9 | It is the place where the weakest in society can get a foothold in life. |
| 1:23.5 | Hospitality employs 10% of the working population. |
| 1:26.7 | It is the place where kids who come out of school are more likely to start their working life. |
| 1:32.3 | A charity boss who provides sheltered accommodation and care homes to thousands. |
| 1:36.4 | Our average energy bill each year was about £1.5 million. I'm pretty consistent over that time with a bit of inflation. |
| 1:43.4 | And on the 12th of August, and I will remember that date for a long time, |
| 1:47.1 | I signed a contract for 7.7 million. |
| 1:50.7 | They will come on the next episode. |
... |
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