Kwasi Kwarteng’s market meltdown
Political Fix
Financial Times
4.2 • 1.2K Ratings
🗓️ 30 September 2022
⏱️ 40 minutes
🧾️ Download transcript
Summary
Markets showed their dismay and the pound crashed to its lowest levels ever as Prime Minister Liz Truss and chancellor Kwasi Kwarteng struggled to defend their economic strategy. Where does the crisis go next? Political editor George Parker and economics editor Chris Giles make sense of it all. We also look back on the Labour party conference in Liverpool and discuss whether Sir Keir Starmer’s party is preparing to return to power. Chief political correspondent Jim Pickard and northern correspondent Jennifer Williams take us into the corridors of the convention centre.
Presented by Sebastian Payne. Produced by Anna Dedhar and Howie Shannon
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Transcript
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| 0:33.3 | This trust struggled to defend her government's economic strategy this week |
| 0:37.6 | as the Prime Minister said her dash for growth might still pay off. |
| 0:41.6 | It's not fair to have a recession. |
| 0:44.0 | It's not fair to have a town where you're not getting the investment. |
| 0:47.6 | It's not fair if we don't get high paying jobs in the future |
| 0:51.2 | because we've got the highest tax burden in 70 years. |
| 0:54.0 | That's what's not fair. |
| 0:56.6 | Welcome to Payne's Politics. |
| 0:58.4 | You're a central insider guide to Westminster from the Financial Times, |
| 1:02.4 | with me Sebastian Payne. |
| 1:04.6 | This week we'll be looking into the unfurling economic chaos in Westminster |
| 1:09.0 | as the pound crashed which lowest ever levels and Liz Truss and her Chancellor |
| 1:13.0 | quasi-quartan struggled to calm the markets. |
| 1:16.0 | Our experts will look back on all the chaos and try to |
... |
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