What could the general election mean for your money?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 24 May 2024

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Prime Minister put an end to all the speculation this week by giving us the date for the general election: July 4.

That comes as the latest inflation reading was 2.3 per cent, a little above forecasts making a base rate cut next month now unlikely.

Simon Lambert, Georgie Frost and Lee Boyce delve into the economic state of affairs and what the upcoming election could mean for your money, when it comes to tax, pensions, property and everything in-between.

Nationwide Building Society posted pre-tax profits of £1.77bn this week and as a result, it is dishing out another year of 'Fairer Share' loyalty payouts of £100 – will you qualify?

And not only that, it is now offering £200 to switchers and an exclusive 5.5 per cent loyalty savings rate.

How does early retirement sound to you? It seems it appeals to a lot of us because searches on Google for 'retire early' have increased threefold in the last decade.

But how much would you be willing to sacrifice to achieve it? At the extreme end, we have the FIRE movement, advocating saving 70 per cent of your income.

Special guest, former This is Money editor Andrew Oxlade had had enough – he explains why.

Lastly, This is Money has a new regular series called Modern Treasures with valuation expert Dan Hatfield – Lee reveals all about the first one, all about first edition books, and gives details on how to get YOUR items valued for free.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to This Is Money Podcast sponsored by Charles Stanley Direct.
0:05.6	I'm Georgie Frost and joining me and Simon Labbert today is Lee Boyce, last special guest,
0:10.8	Andrew Oxlaine.
0:12.0	And coming up, the big news this week, not inflation falling to target, but that we're headed
0:17.1	to the polls in six weeks time, joy of joys.
0:20.5	We delve into the economic state of affairs
0:22.9	and how it will all impact your money. Also today nationwide is doling out the cash. Forget
0:28.2	the fire movement. It's all about chill. And This Is Money has a new modern treasures series.
0:33.9	Lee explains all. Don't forget to stay up to date with all the latest breaking money news.
0:38.7	Just go to this ismoney.co.com.uk or download the app.
0:42.9	Charles Stanley Direct. Investing made easy. Cost effective and flexible.
0:51.6	Using our website or app. With our comprehensive range of investments trade in shares
0:58.7	funds investment trusts and ETFs there's a range to suit all levels of investor
1:05.2	choose your own or consider our ready-made solutions. Charles Stanley Direct.
1:11.9	Sign up now.
1:13.1	Investment involves risk.
1:18.0	But first, the Prime Minister Rishi Sunak put an end to all the speculation this week by giving us a date for the general election.
1:20.4	It is July the 4th.
1:23.0	He was perhaps boosted by the latest inflation reading 2.3% for April, while back to target expectations
1:30.0	had been that it would fall even further than that. And a rate cut at the next Bank of England
1:35.2	meeting is looking increasingly unlikely. So what does it all mean for our money, Simon Lambert?
1:41.7	As we always say on this podcast, this is not a politics show.
	...

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.