Summary
The Chancellor will be addressing the Conservative party conference on Monday to set out his economic vision - but what health is the UK economy in?
Faisal Islam and Dharshini David have been reporting on economic affairs around the UK and how consumers are coping. Joined by Rain Newton-Smith, chief executive of the Confederation of British Industry, they discuss all aspects of the economy from infrastructure, to energy, to robots. You can join our Newscast online community here: https://tinyurl.com/newscastcommunityhere Today's Newscast was presented by Adam Fleming. It was made by Chris Flynn with Miranda Slade and Sam McLaren. The technical producer was Gareth Jones. The editors are Jonathan Aspinwall and Sam Bonham.
Transcript
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| 0:00.0 | Hello, if you're listening to the last episode of newscast, you will have heard Liz Truss' |
| 0:08.9 | former speech writer, Asa Bennett, saying that all the decisions that Rishi Sunak's |
| 0:13.2 | been taking over the last few weeks suggest he's positioning himself as the Martin Lewis |
| 0:17.6 | Money Saving Expert Prime Minister, somebody who does things that mean you end up paying |
| 0:22.8 | less. |
| 0:24.4 | So we got in touch with Martin and rather than just get his reaction, we thought we'd |
| 0:28.3 | get him to add some value and we posed him, something that I've posed a few people here |
| 0:32.6 | on newscasts over the last few weeks, as energy prices come down, should you go onto a fixed |
| 0:39.2 | energy tariff or should you stay on a flexible floating one? Here is the view of the actual |
| 0:46.0 | Money Saving Expert, Martin Lewis. |
| 0:48.1 | The first thing to say is it depends on how risk averse you are. The more scared you are |
| 0:52.0 | of prices going up, the more you should be hedging towards fixing. Now when you do the maths, |
| 0:57.2 | you look at the predictions of what Cornwall Insight is saying is going to happen to the |
| 1:00.9 | energy price cap over the next year and they're saying on average it's going to be slightly |
| 1:05.4 | cheaper than the new October price cap that comes in on Sunday. So if you could get a fix for |
| 1:11.1 | around the cost of the October price cap and you were risk averse, that would look a good deal. |
| 1:16.7 | Now there are very few open market fixes at the moment, most of them are existing customer |
| 1:21.1 | only, I would direct octopus customers to look at theirs because it's got one that fulfills |
| 1:25.8 | that criteria. There's also a discount deal from eonnext that's not a fix but it's 3% cheaper |
| 1:31.9 | than the price cap so if you could understand the price cap and you're a customer there you |
| 1:34.8 | were as well move to it. Otherwise there aren't that many cheap deals from the big firms that |
| 1:40.3 | look that good at the moment but it changes every day. |
... |
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