Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Bookmark
Share
Add to Playlist
Report
How will having a new government impact the economy and the cost of living crisis?
Local TV
Follow
08/07/2024
More than a year on from the biggest water bill rise in 20 years, what's the current state of household finance?
Category
🗞
News
Transcript
Display full video transcript
00:00
I think it's fair to say that the government have inherited an economy that's in a far
00:06
better position than we would have thought maybe 12 months ago, particularly with inflation
00:12
now down to its target 2%.
00:15
There are some concerns it could kind of increase slightly as we get into the autumn, but generally
00:20
I think people think it's going to get closer to one and a half percent, never mind two.
00:25
So that means that there will be a reduction in Bank of England base rates, and I think
00:31
that will be sooner rather than later.
00:33
But we should also recognise that Labour seem to have committed to the current tax thresholds
00:39
until 2028, so the general view is that could mean 4.5 million consumers move into the higher
00:48
tax bracket by 2028.
00:50
So it'll be interesting to see how things play out in the coming months, but hopefully
00:54
as I say, the cost of living pressures start to reduce slightly.
Recommended
1:45
|
Up next
Fans line Broad Street to honour Ozzy Osbourne
National World - LocalTV
yesterday
0:36
PM 'under pressure' to recognise Palestine, Tories claim
ODN
yesterday
1:39
Sharon Osbourne pays emotional tribute to Ozzy
ODN
yesterday
3:05
UK inflation: What does the surprise rise to 4% mean for household budgets and bills?
National World - LocalTV
17/01/2024
2:00
Money Saving Tips: What advice would you give someone hoping to save money during the cost of living crisis?
National World - LocalTV
25/03/2022
6:27
When will the Cost of Living Crisis end? | Behind The Headlines
The Independent
24/08/2023
1:00
Cost of living: Why haven’t food bills started to come down?
National World - LocalTV
22/05/2023
1:00
Government axe winter fuel payments
National World - LocalTV
01/10/2024
1:00
Economy: Inflation rate drops to lowest percentage seen in a year
National World - LocalTV
19/07/2023
2:00
The cost of living crisis continues: What impact is it having on you?
National World - LocalTV
06/06/2022
1:00
UK house prices fall at sharpest rate for 14 years, says Nationwide
National World - LocalTV
01/08/2023
2:00
When might we see an end to the cost of living crisis?
National World - LocalTV
03/01/2025
1:05
Rising bills: What bills are rising and by how much?
Local TV
13/02/2025
3:05
Cost of living crisis: What will happen to pensions?
National World - LocalTV
12/10/2022
1:00
Mortgages: Rates rises above 6%
National World - LocalTV
19/06/2023
1:00
UK economy grew due to hot weather, according to official figures
National World - LocalTV
11/08/2023
1:00
Was the recent budget a failure?
National World - LocalTV
15/01/2025
6:15
What happens when the US debt reaches critical levels?
Business Insider
20/04/2024
1:00
What support is available for people struggling with bills in 2023?
National World - LocalTV
03/01/2023
2:00
Money Saving Measures: What support would you like to see from the government to cope with the cost of living crisis?
National World - LocalTV
27/04/2022
1:00
Bristolians Discuss: Which household bill is hitting your household the hardest?
National World - LocalTV
03/03/2025
3:05
£30bn tax cuts: Do people across the UK back Government plans?
National World - LocalTV
22/09/2022
3:05
Spring Budget 2024: National insurance cut, help for low income families, and freezing of fuel and alcohol duty cuts - how will it affect you?
National World - LocalTV
06/03/2024
25:00
Remembering the global financial crisis, 10 years on | Counting the Cost (Full)
Al Jazeera English
15/09/2018
1:05
The cost of living continues to rise, what are Labour’s plans to improve the economy?
National World - LocalTV
03/01/2025