Who’s making a killing from the cost of living?
The Story
The Times
3.9 • 1.6K Ratings
🗓️ 20 July 2022
⏱️ 29 minutes
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Summary
Inflation has hit a new 40-year high – just living life is expensive at the moment, and it’s getting worse. But to fight rising prices, politicians will first have to understand what’s causing them. The war in Ukraine and the pandemic are two factors, but is that the full picture?
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Guest: Mehreen Khan, Economics Editor, The Times.
Host: Luke Jones.
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Transcript
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| 0:00.0 | Prices are soaring. I don't need to tell you that. I know it. Politicians know it. Just |
| 0:11.2 | living life is expensive at the moment. And it's going to get worse. |
| 0:18.0 | This winter coming up is going to be the most desperate time. |
| 0:21.7 | Genuinely, a once in a generation event. What's less clear are the reasons why and what |
| 0:27.6 | anyone can do about it. I am virtually out of tools to help people now. If you |
| 0:33.6 | felt a bit helpless. Well, yes. I'm fed off. Something's going to be done. |
| 0:39.1 | We have to live with it and deal with it. People are going to go out in the streets. |
| 0:43.3 | You mark my words. They're going to go out and rob supermarkets. |
| 0:47.2 | We need to be under no illusions of the visceral danger when people who have always |
| 0:54.0 | been their family's breadwinners have that taken away from them. |
| 0:58.4 | Yes, there's a war raging in Ukraine. Yes, COVID has messed up many supply chains. |
| 1:03.8 | That part is sort of easy to understand. But what is the full picture? |
| 1:08.0 | Corporations are reporting record profit. She'll announce more than £14billion in profits. |
| 1:14.3 | Shipping giant mercs says profits tripled. |
| 1:17.2 | Something just doesn't add up. |
| 1:19.7 | You're listening to stories of our times from the times and the Sunday times. |
| 1:24.0 | Manveen's away, so you've me, Luke Jones. Today, who is making a killing from the cost of living? |
| 1:34.6 | My name is Marine Khan and I'm the economic editor at the Times. |
| 1:38.2 | Take us back, Marine, to when the government of the Bank of England, Andrew Bailey, |
| 1:42.8 | was giving a speech as he's want to do. And he had something of a warning telling us not to do something. |
| 1:49.2 | Yes, this was around February this year when the Bank of England did its usual three-monthly |
| 1:53.7 | forecast for the economy. Hello, everyone and welcome to the Bank of England's |
... |
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