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TyskySour: Inflation Hits 40 Year High

Novara Media

Novara Media

Politics, News, Society & Culture, Philosophy

4.81.5K Ratings

🗓️ 18 May 2022

⏱️ 55 minutes

🧾️ Download transcript

Summary

With inflation at 9% and business profits surging, the Tories still want the poor to pay for the cost of living crisis. We speak to James Meadway about whether workers should be demanding higher pay. Plus: A Tory MP has been arrested on suspicion of rape, and Ed Miliband calls out Rishi Sunak at the […]

Transcript

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0:00.0

Welcome to Tisky Sauer. Tonight we're talking about inflation, which is at the highest level

0:11.2

it has been in 40 years. I'll speak to James Mead, why workers should, contra what you

0:18.9

might be hearing from leading politicians, why they should ask for a pay rise. We'll also

0:24.8

be talking about the Tory MP arrested on suspicion of rape. Ed Miliband, very successfully

0:30.7

laying into Rishi Sunak and the Daily Mail's pretty obsessive campaign against people working

0:36.6

from home this evening. I'm delighted to be joined by Moyer Lovian McClain. Tisky viewers will

0:43.1

have seen Moyer before as a guest host, but this is the first time you've been on the show

0:46.7

as a Navarra Media staff member. Moyer is our newest contributing editor. How have you found

0:52.8

joining the team, Moyer? Well, you know that I love to be paid a full-time salary, so it's fantastic.

0:58.1

No, I'm really pleased to be here and also that have a four-day working week. It's true,

1:03.1

Navarra Media, four-day working week. We practice what we preach, we're in favour of a four-day week

1:08.5

and so we run one. With household budgets already at breaking point, average price increases have

1:14.4

reached a 40-year high. Inflation now stands at 9% a level last seen in 1982. It's seven points

1:23.2

above the Bank of England's target. Yet even that high figure fails to account for the full

1:28.2

impact price rises are having on Britain's poorest. As the IFS show prices for the poorest households

1:34.3

have gone up by a massive 10.9% that compares to only 7.9% inflation for the richest households.

1:42.6

The difference is because poor people spend more of their incomes on essential goods,

1:46.7

such as energy, food and rent. These are the goods for which the prices have increased the fastest.

1:53.6

Yet despite all this, Boris Johnson still thinks he has a good economic story to tell.

1:59.4

And I'm proud to say, Mr. Bigger, for this week it was revealed that unemployment has come down

2:05.0

to the lowest level since 1974 when I was 10 years old, Mr. Bigger. I don't know how old he was,

2:13.3

but I was 10 years old. The low unemployment and high inflation go together is a tenant

...

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