Hello, hello, hello, welcome to the show. So, we're going to talk about the economy today.

We're not talking about for a little while though. The current economic situation is obviously

so that we'll be talking about I think quite a lot in the coming months. I think it's

better to say that Britain's economy has been in some state of crisis since financial crash.

We had a disastrous, a catastrophic financial crash back in 2008 for which the rest of society

had to pay and it's carried on paying. It's predicted that living standards for workers in 2026

will be lower than they were in 2008. British workers on average are £1,000 poorer now that they

were back in 2008. Look at any stats. They're just bad to be honest. Bad statistics.

So the bottom of fifth of earners in this country are 20% poorer than their French and German

counterparts. You just literally just go by any measure. We've gone through the longest

squeeze as I often tell you. The longest squeeze in wages now since the Napoleonic age.

That's an important context. I think to set any economic figures that we get.

I've not been talked about the stagnant growth we've had. If you want to look for high economic

growth, you have to look at the post-war decades. Ever since that tourism, economic growth figures

have basically been decade by decade on a downward curve. In the last two decades, they stagnated

at a low level. Now, today's annual inflation rate fell sharply down to 6.8% from 7.9% in June.

Now, it's really important to understand what that means. It doesn't mean prices are falling.

It means that the rate at which prices are increasing has fallen. So prices are rising by 6.8%,

rather than by 7.9%. So I think that's obviously crucial to understand in terms of

prices have gone up, but now it's the rate at which prices are going up. That's what matters.

But the problem is what's known as core inflation hasn't been actually higher than that rate.

And the wage squeeze hasn't ended. Look, these are sorts of things I want to talk about today.

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