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This Is Why

Why does the UK have the highest inflation in the G7?

This Is Why

Sky News

News, Daily News, News Commentary

4.0552 Ratings

🗓️ 20 April 2023

⏱️ 20 minutes

🧾️ Download transcript

Summary

The government has made it its primary aim to halve inflation by the end of the year but things aren't quite going to plan.
Britain has shot up the leader board and now has western Europe's highest rate of consumer price inflation.
On the Sky News Daily, Sally Lockwood speaks to founder of consumer advice website Nous and household finance expert, Greg Marsh, about what this means for the money in your pocket, and to Sky's business and economics correspondent, Gurpreet Narwan, about why the UK has been affected so badly – and if there's any light at the end of the tunnel.

Podcast producer: Rosie Gillott
Editor: Philly Beaumont

Transcript

Click on a timestamp to play from that location

0:00.0

Uber drivers. Have you seen your pay go down while your fees to Uber go up?

0:05.0

All because of an algorithm that reduces your take-home pay, making you work more for less.

0:10.0

We believe Uber's dynamic pay and upfront pricing is unfair.

0:14.0

That's why Worker Info Exchange has launched the dynamic pay claim to seek compensation for drivers who have lost income.

0:21.5

If you've driven for Uber at any time since 2020, it's time to stand together.

0:26.8

Find out more at dynamic pay.org.

0:30.0

Easter eggs? M&S, of course. I mean the new Chok Mark's egg, with salted pretzel pieces

0:35.8

and honey almond new guy is pretty spectacular and what

0:39.1

about the big daddy loaded half egg filled with caramel and peanut chunks and dark chocolate pieces

0:45.2

or the Swiss chocolate crispy cloud egg with crunchy corn flakes salted caramel and

0:51.2

almond yes please so if you're looking for amazing eggs, it's got to be M&S.

0:56.4

This is not just food. This is M&S food. Selected stores.

1:03.0

The UK has the worst inflation in Western Europe. It's also higher than in Japan, Canada and the US.

1:11.3

That means the money you take home at the end of every month is worth less,

1:15.5

and people are really feeling the pinch.

1:18.7

Now, we already know we're in a cost of living crisis,

1:21.5

with things like energy and food prices affected by the war in Ukraine,

1:26.3

and dare we say it, Brexit.

1:28.9

The Chancellor Jeremy Hunt says his government has a plan to deal with it.

1:33.2

And if we're going to reduce that pressure on families, it's absolutely essential that we stick

1:37.3

to that plan and we see it through so that we halve inflation this year as the Prime Minister

1:42.9

has promised. But for now, we're going to have to suffer through what Mr Hunt himself admits

...

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