Has the V-shaped recovery turned into a double-dip?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 24 October 2020

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Has the V-shaped recovery been put on hold?

Lockdowns across Britain’s major cities, the tier system and more businesses being forced to close their doors or operate far below usual business levels means the direction of travel has shifted dramatically from the summer’s optimistic reopening of the economy.

It's likely that the UK will emerge from recession with growth over this quarter, but is it on track to head straight back into another slump?

Coronavirus measures, rules that hobble some sectors and a renewed sense of fear will slam the brakes on – and the effect was great enough to make Rishi Sunak upgrade his support for jobs and businesses again this week.

On this week’s podcast, Georgie Frost and Simon Lambert look at how bad this winter will be and whether Britain can battle its way out of the slump thanks to the resilience in parts of the economy that has surprised many this year.

One element of the economy that is doing much better than expected is the property market and Rishi’s stamp duty holiday has come under fire for driving up house prices, so is it time to make it permanent, ease the need to rush and encourage people to move more often?

Also on this week’s podcast, Georgie and Simon look at the latest temperature check of Britain’s retirement prospects and how hard the pandemic has hit them.

And finally, buy a new appliance and it comes with a guarantee but do you really need to fill in that little form or go online to register it? Or is that just a swizz to get your personal details?

Transcript

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0:00.0	Welcome to This Is Money Podcasts. I'm Georgie Frost and alongside me is editor Simon Lambert.
0:05.4	And this week has the recovery been put on hold? It slightly will emerge from a recession with
0:10.8	growth over this quarter, but are we just going to dive straight back in? Tears, fears and
0:16.6	lockdowns have led Rishi to ramp up his support packages, but again, many of the self-employed
0:21.7	feeling left out. How bleak will the winter be, or can we battle our way out of it? Plus, what's
0:28.3	all this done to our retirement plan? Simon gives the chance to us some stamp duty advice,
0:33.5	and, for something a little bit different, do you actually have to register an appliance for a guarantee?
0:39.9	Don't forget you yourself today with all the latest breaking money news. Just go to this ismoney.com.
0:44.0	UK or download the app. But first, after a summer of optimism where we were encouraged that eating out would indeed help out, even after 10 o'clock,
0:55.7	oh, the heady days. Now the country is divided in more ways than one by tears.
1:01.3	We had the chance as winter economy statement back in September, but such is the pace of new
1:06.9	measures being brought in. Rishi is at to change one of its key planks, the job support scheme,
1:11.2	not once, but twice in under a month. So more help for businesses and employees, but there is one
1:16.4	group again feeling rather aggrieved, and that is the self-employed. We will get to that issue
1:22.0	shortly, but first, Simon, want to ask, is that it for our V-shaped recovery?
1:28.0	Is that it indeed for any sort of recovery?
1:31.0	Wibbly, V-X, Y, Z?
1:33.9	I think that the V-shaped recovery might be seriously at risk at the moment.
1:43.5	The economic performance and the resilience of consumer spending
1:47.2	surprised a lot of people over the summer.
1:51.8	I think that Britain dug in and did what it did best
1:55.9	in times of crisis or otherwise.
	...

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