The three events that could bring about financial misery for millions

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 17 February 2017

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It’s the Holy Trinity of money-geddon (to mess up a couple of Biblical metaphors). But this could be big.

We’re less well off than in 2008, prices are going up and wages aren’t.

This adds up to trouble.

The British economy is based on us all spending money on services but it’s increasingly money we haven't got.

Join Georgie Frost, Rachel Rickard Straus and Simon Lambert for a cheery look at what lies ahead now that the impact of austerity, inflation and the devalued pound is becoming clear.

Also, on the show…

SAVE GOODBYE: The only place to get a savings account remotely worth saving money into is likely to be with a bank you’ve never heard of.

STOPPING SHOPPING: The Government has mucked up business rates so seismically that many shops are likely to shut down. Surely a u-turn is the only hope.

POUND ROUND-UP: Round pound coins are being killed off. If you’ve got a jar full at home you need to spend them now.

DEAD MEAN: First they made disabled people pay for tax cuts of the rich and the crimes of the bankers, now the Government is hacking away at a financial lifeline for bereaved parents. It’s not civilised.

Enjoy.

Transcript

Click on a timestamp to play from that location

0:00.0	This is Money, brought to you in partnership with NS&I, giving you 100% security backed by HM Treasury.
0:27.0	Very warm welcome to This is Money and Share Radio podcast in partnership with NS&I.
0:33.4	I'm Georgie Frost and joining me in the studio is editor Simon Lambert and personal finance editor Rachel Rickard Strauss. To round up the top stories they've been covering it on their award-winning website this week.
0:37.9	And the UK's embattled savers faced further pain as official figures showed inflation rose in January.
0:44.7	Most of these accounts are basically either going to be at the rate of inflation by the end of the year
0:50.3	or potentially even slightly below in some situations. You're sort of going, it's better to spend the money than to save the money.
0:55.6	And it's expected to go up even further.
0:57.5	I think the rising inflation could be quite dramatic, actually, over the next few months,
1:01.0	but that will really be driven by high import prices feeding through to the shops.
1:04.8	It's also not good news for workers as wage growth dipped at the end of the year,
1:09.3	despite employment remaining at record highs,
1:12.6	there are question marks over the quality of those jobs.
1:15.1	We don't want to see people on zero-hours contracts being lumped in with those figures as they are at the moment.
1:20.0	It's through security and stability that the economy will get stronger, and that's what really counts.
1:24.9	Well, it seems the rise in inflation is also hitting the high street.
1:28.0	Retail figures took a hit this month.
1:30.4	It comes as the row where the plan changes to business rates continues.
1:35.1	If this is announced in the budget, it will come into effect in April.
1:39.0	And I think that is the concern of many of the businesses that it won't be tapered.
1:42.8	It will come in immediately. Also today, Rachel's been investigating something well none of us like to talk about,
1:49.0	but it's such an important issue.
1:51.0	The loss of a loved one and how it can severely impact our cost of living,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from This is Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of This is Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.