HARD REBOOT: Turning the economy off and on again?

The Bunker

Podmasters

News, Politics, Society & Culture, Government

4.6 • 984 Ratings

🗓️ 5 May 2020

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

After an economic shock that’s unique in human history, how can we rebuild Britain’s businesses and public finances? How are we going to pay off a national debt unseen outside of wartime? Ian Mulheirn, Chief Economist of Renewing the Centre at the Tony Blair Institute, tells Naomi Smith about the hard choices ahead in a world without rules. “This is the first time ever that governments have actively decided to switch the economy off.” “We won’t be as worried about paying this debt off as we might have been in the past. We’ll just have to live with it.” “This is what the State is for. It’s for safeguarding livelihoods and lives in times of crisis.” Presented by Naomi Smith. Produced by Andrew Harrison. Assistant producer Jacob Archbold. Music by Kenny Dickinson. Audio production by Alex Rees. THE BUNKER is a Podmasters Production. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	My name is Stan. I'm at. Nice to meet you. So you took up photography where? I've always loved
0:05.5	photography but I turn it into earning a living at 60. I enrolled on a day course.
0:11.8	Well college. I loved going to college. It's good you can retry. I'm enrolled on the day course. But college?
0:13.0	I loved going to college.
0:14.0	It's good you can retrain and do something.
0:16.0	Yeah, yeah.
0:17.0	Let's talk about working, learning, saving and making the most of living longer.
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0:28.0	Search Phoenix Group living longer.
0:30.0	Pets brings so much joy.
0:32.0	From those happy greetings at the door to the warm cuddles on the sofa
0:36.7	so give a little love back with dental life from Purina a range of delicious chues made for dogs and tasty snacks for cats that help clean and support your pets, teeth and gums, essential for their overall well-being and a happy, healthy life. They give you plenty of smiles so
0:55.3	look after theirs with dental life. Pick up dental life in the pet food aisle. Hello and welcome back to the bunker daily I'm Naomi Smith. We hope you're enjoying your daily deep dives into politics and if you are you still have time to register for our live stream which is this Thursday evening. You can sign up to support us on the
1:25.0	crowdfunding platform Patreon. It's as little as two pounds a month and you'll get
1:29.3	access to the live stream plus a whole load of other benefits including ad free versions of the
1:35.7	podcast hallelujah and very stylish mugs and t-shirts too so you just search
1:41.8	patreon bunker podcast or you can just have a look at our
1:44.8	social media and it should all be on there too. On today's podcast the worst
1:49.7	global recession in 300 years is going to saddle Britain with debts unseen out of wartime.
1:56.2	Bloomberg economics estimates that the global cost of loss output from the pandemic could
2:01.8	exceed, wait for it, six trillion dollars.
2:06.7	That definitely does not fit on this accountant's calculator, let me tell you.
	...

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