What will boost growth?
Coffee House Shots
The Spectator
4.4 • 2.2K Ratings
🗓️ 12 May 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Natasha Feroze speaks to Katy Balls and Kate Andrews.
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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 | Kandu is more than just an attitude. It's navigating today for a brighter tomorrow. |
| 0:13.2 | Visit KanduWealth.com. |
| 0:19.7 | Hello and welcome to Coffee House Shots, the spectators' daily politics podcast. |
| 0:24.0 | I'm Natasha Faros and I'm joined by Katie Balls and Kate Andrews is back with us because |
| 0:28.9 | there's been some GDP figures revealed this morning. Kate, tell us the story. |
| 0:34.2 | So we have two sets of figures this morning. One is the quarterly update which saw the UK economy |
| 0:40.8 | grow by a measly 0.1%, but it did grow in the first quarter of this year. But we also got the |
| 0:47.3 | monthly update and following zero growth in February, which has not been revised, that stayed the same. |
| 0:54.2 | We have found out that the economy contracted by 0.3% in March. So it was really strong |
| 1:00.0 | January figures that got us to this 0.1% growth in key one. And a very clear narrative here is |
| 1:06.8 | emerging, which is essentially that virtually no growth is better than having a contraction |
| 1:12.2 | or a recession, but it's still not very good news. Nobody wants to be in a formal recession and |
| 1:17.5 | today's key one update dodges that yet again, that is on the surface very good news. But if you |
| 1:23.9 | look at that breakdown of the months and you look at the direction, this is all going in, consumer |
| 1:29.2 | facing services took a 0.8% hit and this is all evidence that inflation is really starting to |
| 1:35.4 | catch up with people that hit to real wages and also quite possibly that those interest rate |
| 1:39.3 | hikes are starting to be felt. Those can take a longer time to work their way into the system, |
| 1:43.8 | but no doubt they are now starting to have some impact. Let's not forget that economic growth |
| 1:50.4 | is one of the government's five pledges for the year. They kept that very vague at the start of |
| 1:54.9 | January. They just said there would be some economic growth. And I think this will be interesting |
... |
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