Why this recession will bite differently

The Bunker – News without the nonsense

Podmasters

Politics, Government, Society & Culture, News

4.6 • 1K Ratings

🗓️ 6 January 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

With all signs pointing to a recession, how will this one be different to those of the past? From strikes to sky high heating bills, we’ve begun 2023, much as we ended 2022. How long can this last, and is there any hope of our fortunes improving? Resolution Foundation’s research director James Smith joins Ahir Shah to tell us how this situation might play out. “If we are pessimistic about the future and that feeds back into how [the Government] set their policies, it can become self fulfilling.” “The big thing here is that we are getting poorer as a country.” “We need to make sure the recovery from the pandemic and cost of living recession isn’t as bad as the financial crisis.” Presented by Ahir Shah. Producers: Jet Gerbertson and Alex Rees. Assistant Producer: Kasia Tomasiewicz. Music by Kenny Dickinson. Audio production: Robin Leeburn. Lead Producer: Jacob Jarvis. Group Editor: Andrew Harrison. THE BUNKER is a Podmasters Production Instagram | Twitter Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	My name is Stan. I'm at. Nice to meet you. So you took up photography where? I've always loved
0:05.5	photography but I turn it into earning a living at 60. I enrolled on a day course.
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1:08.6	hello and Hello and welcome to the bunker daily I'm Ahir Shah. The clouds are gathering over the British economy with data suggesting that the UK has entered another period of recession.
1:14.0	While the old warning goes that the plural of anecdote is not data,
1:18.0	this economic data does feel like the sum of the anecdotes that are defining all of our lives right now of belt tightening, prioritizations,
1:26.2	and fears for the future.
1:28.1	Joining me to discuss the recession at our gates and how it may differ from recession's past is James Smith
1:33.6	research director at the Resolution Foundation. James, welcome to the bunker.
1:37.6	Hello, thank you for having me.
1:39.6	James, the current thinking appears to be that the UK has entered what's being called a shallow and protracted recession.
1:47.0	What does this actually mean?
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