In for a penny, in for a pounding: Britain’s economic gyrations
The Intelligence from The Economist
The Economist
4.5 • 3.7K Ratings
🗓️ 27 September 2022
⏱️ ? minutes
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Summary
The markets are so far entirely unconvinced that the new administration’s Reagan-esque economic plans will work to spur growth—just look at sterling's tumble. In Tibet, China’s mass collection of DNA samples has one unabashed motive: social control. And the curious wave of “unretirees” returning to work after the pandemic.
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Transcript
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| 0:00.0 | Hello and welcome to the intelligence from the economist. |
| 0:06.7 | In New York, I'm John Fassman. |
| 0:09.2 | And in London, I'm Jason Palmer. |
| 0:11.3 | Every weekday, we provide a fresh perspective on the events shaping your world. |
| 0:19.1 | In many countries, if you get arrested, the police can take a sample of your DNA. |
| 0:24.2 | But in Tibet, the Chinese government isn't waiting for arrests. |
| 0:27.8 | They're taking DNA from months, children, and pretty much anyone they like, as much |
| 0:32.8 | as one third of the total population. |
| 0:37.8 | And it's no surprise that the pandemic led to a lot of early retirements. |
| 0:42.0 | What's surprising is just how many people are now unretiring and heading back to work. |
| 0:55.7 | And first, for those watching the British economy, it's been a queasy few days. |
| 1:06.9 | The Bank of England today raised the base rate of interest to its highest level in 14 years. |
| 1:12.6 | This is the figure it started the day at. |
| 1:14.2 | It's gone up by half a percentage point to 2 and a quarter percent to try and bring |
| 1:19.2 | inflation under control. |
| 1:21.4 | Last Thursday, the Bank of England did what so many other central banks are doing to fight |
| 1:26.7 | inflation. |
| 1:27.7 | It raised rates. |
| 1:28.8 | A day later, Britain heard from its new chancellor, or chief finance minister, Guazi |
| 1:34.1 | Cortan. |
| 1:35.1 | He announced the biggest tax cuts in Britain for half a century. |
| 1:38.3 | We need a new approach for a new era, focused on growth. |
... |
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