Will the Winter Economy Plan save jobs and how does it work?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 25 September 2020

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

There won't be another budget this year. Instead, we had the Winter Economy Plan unveiled this week as fears over a second wave of coronavirus infections - and the further economic turmoil it could create - takes hold.

Despite repeated calls to extend the furlough scheme, Chancellor Rishi Sunak held firm.

How does this new Jobs Support Scheme stack-up, will it be enough and what else did Mr Sunak reveal? Simon Lambert, Lee Boyce and Georgie Frost take a look.

Meanwhile, importers are worried about container delays at Felixstowe Port, with coronavirus measures reportedly creating a backlog.

NS&I made some brutal cuts to savings rates and its Premium Bonds – why did it make the move, just how severe are the cuts and where can savers head next?

We could be about to see the end of the loyalty penalty - when sticking with one insurer for your car or home really doesn't pay – and it may save households nearly £4billion in the next decade.

And lastly, hot tubs… the hot weather at the start of lockdown saw many people snap them up. But, now, many are complaining of faulty ones, with difficulties getting them fixed.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to This Is Money podcast brought to you in partnership with Charles Stanley Direct, the award-winning investment platform,
0:06.7	trusted by over 40,000 clients. Investment involves risk. I'm Georgie Frost, and alongside me and editor Simon Lambert
0:13.2	today is Assistant Editor Lee Boyce. And coming up, furlough mark two, or too little, too late to save millions of of jobs the chancellor gave us his winter economy plan to help businesses in the wake of tighter restrictions to stop the spread of coronavirus but what's in it and will it work and how much more are we going to have to fork out in tax to pay for all this huge cuts cuts announced at NS&I, which could see you earn just a quid on every 10,000 you stash away.
0:44.1	Where on earth can its millions of sabres turn to now?
0:47.5	Also, it's not just government measures to stop coronavirus that's playing Scrooge this year.
0:51.8	Could an import export crisis sink Christmas too.
0:55.5	Is the end of the loyalty penalty finally in sight and all good things come to an end?
1:00.5	We discuss the hot tub hangover. Don't forget you to up to date with all the latest breaking
1:04.8	money news, just go to this ismoney.co.uk or download the hand but first.
1:10.1	Despite repeated calls to extend the furlough scheme, the Chancellor
1:13.9	has held firm. However, as a result of increasingly tighter restrictions from his boss that we
1:19.5	got over the last couple of weeks to stop the spread of coronavirus, wish he had to act.
1:24.2	Out was the autumn budget, but in came the winter economy plan.
1:30.3	Not so much a plan, perhaps, as just a few ideas, and one of which was a sort of furlough
1:36.4	light, aimed at replacing the old scheme when that comes to an end on the 31st of October.
1:42.0	Will the job support scheme, though, be enough to support jobs?
1:46.1	And what else is in there? Firstly, Simon, the mood music has changed. This was about saving,
1:54.3	and the chance has said it, viable jobs. And that we're in this as well. If you, you don't have to
1:59.6	be between the lines, we're in this for a good while yet.
2:02.1	Tell us about the context of the plan first, and then we'll get into the detail.
2:07.8	The context of the plan is that despite the measures that were announced this week,
2:13.1	feeling something like an inevitable crawl towards the pain of full lockdown that we had earlier
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from This is Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of This is Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.