UK tips into recession – what's left of Sunak's priorities?

Coffee House Shots

The Spectator

News, Daily News, Politics

4.4 • 2.2K Ratings

🗓️ 15 February 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

This morning's figures show that the UK went into a technical recession last year. Forecasts suggest it will be a short and shallow recession, but how badly does this reflect on the government's priorities to increase growth and lower inflation? Also, will this make Rishi Sunak think again about his plan to meet as many rattled voters as possible on the campaign trail? Natasha Feroze speaks to Kate Andrews and James Heale.

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Transcript

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0:00.0	This episode is sponsored by Canacord Genuity Wealth Management,
0:03.6	Experience Wealth Managers who go above and beyond to guide and support you.
0:08.0	Can-do is more than just an attitude.
0:10.0	It's navigating today for a brighter tomorrow.
0:13.3	Visit can do wealth.com.
0:19.2	Hello and welcome to coffee house shots,
0:21.0	the Spectators Daily Politics Podcast. I'm
0:23.7	Natasha Frows and I'm joined by Kate Andrews and James Heel. Well Kate is with us
0:28.2	today because this morning we learned that the UK went into a recession last year.
0:33.4	Kate, it's slightly a gray area.
0:36.0	Could you explain the figures?
0:38.0	So the UK went into a technical recession last year.
0:41.6	A technical recession and a recession arguably the same thing but
0:45.2	it is important to give some context to what's happening. So in the third quarter of
0:50.4	last year we discovered that the UK contracted by 0.1 percent and this
0:55.3	morning we learned that in the fourth quarter between October and December the
0:59.1	economy overall contracted by 0.3%.
1:02.8	Now the reason we're saying the word technical
1:04.3	is because the definition of recession
1:06.2	is two consecutive quarters of negative growth.
1:09.0	So looking at this recession, we can note
1:10.6	that if there had been a 0.1 percentage difference in the third quarter,
	...

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