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Marketplace All-in-One

Not necessarily a “new dawn” for economic policy in the U.K.

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 5 July 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

While the Labour Party saw a historic win in Thursday’s general election in the U.K., the new prime minister, Sir Keir Starmer, is without a raft of money to implement sweeping reforms. So how will the new government differ economically from the one seen under Conservative rule? And later, it’s hard to prepare a meal with a newborn in your hands. That inspired one couple to open a restaurant in Atlanta.

Transcript

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0:00.0

From all of us at Marketplace, thank you to those who stepped up to join our

0:04.8

community of Marketplace investors at the end of our budget year. Your support

0:09.6

empowers us to continue making everyone smarter about the economy.

0:14.0

And that means so much.

0:15.0

It's not too late to become a marketplace investor.

0:18.0

Just go to marketplace.org

0:20.0

slash donate.

0:21.0

Thanks again. The United Kingdom sees a political earthquake.

0:28.0

An economic one, not as much.

0:31.0

From marketplace, I'm Sabrie Benashhore in for David Brunkhachio.

0:35.1

It has been a historic night in British politics with the UK Labour Party winning by a landslide

0:40.9

in the country's general election yesterday. Voters say they are ready for a big change. But economically and fiscally, the new administration headed by Kerest-Rmer is limited and how much change it can bring.

0:54.4

The BBC's political correspondent Nick Early is at Downing Street

0:57.9

where the new Prime Minister will soon take office.

1:01.2

When you look at Labour's respect to its power, of course there were differences with the Conservatives

1:07.6

when it came to some taxes, when it came to some policy as well. But they weren't hugely different. And when it came to some policy as well. But they weren't hugely different and when it came to the big economic

1:16.3

positions, the big economic rules that will you know define what this government can do,

1:22.1

they were the same as the Conservatives.

1:24.3

So the Labour Party, Kistammer as Prime Minister, is going to be constrained in what he can and

1:29.6

can't do.

1:30.6

He doesn't have cash to throw it things. I don't think there's any sense that this is a new dawn like we had under

1:36.7

Tony Bear in 1997. That was certainly the argument at the time and there was a bit more cash to go around. That said I think Kirstarmer will absolutely want to hit the ground running

...

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