What’s happening with the UK economy?

This Is Why

Sky News

News, Daily News, News Commentary

4.0 • 552 Ratings

🗓️ 28 September 2022

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Since the government’s tax-cutting mini-budget last week, the pound has hit record lows against the dollar, mortgage providers have pulled hundreds of products and there has been damning criticism from the International Monetary Fund and an emergency intervention by the Bank of England.

Critics have accused Liz Truss, the prime minister, and Kwasi Kwarteng, the chancellor, of being “economically illiterate”.

On the Sky News Daily, Niall Paterson looks at the economic arguments and the market reaction. He’s joined by Sky News business presenter Ian King, Martin Weale, a former member of the Bank of England's Monetary Policy Committee, and Jane Foley, a senior strategist at Rabobank.

Producers: Soila Apparicio and Emma Rae Woodhouse
Interviews Producer: Alys Bowen
Podcast Promotion Producer: David Chipakupaku
Editors: Philly Beaumont and Paul Stanworth

Transcript

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0:00.0	You know, when Helen used to get home from work, I'd ask, how are you?
0:04.0	Fine, she'd say.
0:06.0	She clearly wasn't.
0:07.0	After 10 years in IT, she was on autopilot.
0:11.0	Then she found this job, training up-and-coming tech wizas at the college,
0:15.0	same skills but with new people, new challenges.
0:19.0	Now when she gets back, I get the full debrief.
0:23.2	Can't get a word in.
0:24.9	Give your skills new life.
0:26.5	Train others.
0:27.7	Search jobs in further education.
0:30.1	Pain in my hip.
0:32.4	I keep feeling dizzy.
0:35.0	I'm getting migraines more often.
0:39.6	There's another way to contact your GP practice by simply sending your symptoms and requests
0:45.2	through their website or the NHS app. We're delivering an NHS fit for the future.
0:51.7	Tap it, type it and we'll take care of it.
0:56.8	Julia, how do you spell vertebrae?
0:58.6	Oh, just tight pain in the neck.
1:07.0	You'd be forgiven for feeling low at the moment.
1:09.7	Frankly, it is all a bit of a mess.
1:12.7	The spiraling cost of heating our homes.
	...

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