New British Prime Minister Rishi Sunak must tackle what he has called a “profound economic crisis”. He vowed the priority of the government would be to “reduce inflation", describing it as “indeed the enemy”.
Under Mr Sunak's predecessor Liz Truss, the UK government attempted to prioritise populist measures such as tax cuts without reducing spending. This triggered a violent reaction from the bond market. It resulted in Ms Truss stepping down and a third leader for the country this year.
Investors remain nervous about the shape of UK fiscal and economic policy. Will Mr Sunak settle these concerns down and put the country back on a more steady footing, facing down both the energy and cost-of-living crises? Or will circumstances prove beyond his control?
London deputy bureau chief Paul Carey discusses the uncertain outlook with host Mustafa Alrawi.
In this episode:
Has the UK political scene stabilised now? (1m 10s)
UK budget statement delayed (4m)
Challenges facing Rishi Sunak and lowering expectations (6m 18s)
UK’s cost of living problem (7m 29s)
Is the UK public tiring of politicians and politics? (9m 21s)
What’s the outlook for the UK’s economic future? (11m 13s)
More:
Why the UK is facing an energy price crisis
Liz Truss's downfall and the problem with markets dictating government policy
Pound sterling rallies as markets react to Liz Truss's resignation
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
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The Intruder
Director: Deon Taylor
Starring: Dennis Quaid, Michael Ealy, Meagan Good
One star
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
