The value of the pound dropped, as they call it, a bit of a run on the pound. People were saying we don't want to have our money in government bonds when this government looks like it doesn't know what it's doing. Raising interest rates means people's mortgages or their credit card payments go up. There was a danger of some kind of spiral going on here where our economy would in effect collapse. So there was emergency funding from the Bank of England not once but twice. And what's happened is this policy has unraveled incredibly quickly.
My dad returns to talk more about UK politics, this time describing the disastrous economic policy of Liz Truss and her Chancellor (finance minister) Kwasi Kwarteng. Advanced level English listening practice - this is complicated stuff, but keep listening to develop your English skills and learn about what's going on in UK politics and current affairs.
Episode page https://wp.me/p4IuUx-s7G
Video version https://youtu.be/csrAYt0eNbc
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