Economist Stephanie Flanders joins the podcast to discuss Rishi Sunak's economy plan. Burger King and Taylor Wimpey CEOs share their thoughts on the announcements. Topics include VAT cuts, Job Retention Bonus, Kickstart Scheme, sector-specific support, and challenges faced by businesses during the pandemic.
Government introducing VAT reduction on restaurant hot food to stimulate consumer spending post-pandemic.
Challenges and uncertainties persist in economic recovery post-furlough scheme, necessitating ongoing government evaluation and support.
Deep dives
Government's Economic Response to Pandemic
The podcast discusses Rishi Sunak's summer economic statement focusing on government measures to address the economic impacts of the pandemic. Sunak emphasizes the government's support where needed, highlighting a reduction in VAT on restaurant hot food and a new food discount scheme paying for a 50% discount. The chancellor's approach indicates a shift from traditional conservative spending ideologies to address the current crisis with significant financial support. The podcast delves into the implications of these measures for businesses and consumers during the pandemic.
Challenges and Uncertainties in Economic Recovery
The podcast addresses the challenges and uncertainties in the economic recovery, particularly as the furlough scheme is phased out. It explores concerns about potential job losses and the need for continued government support. The discussion highlights the complexity of predicting the economic landscape post-furlough scheme and the necessity for ongoing evaluation to adapt to evolving circumstances.
Government's Incentive Schemes for Businesses
The podcast analyzes the government's incentive schemes for businesses, such as the Job Retention Bonus and the Kickstart scheme aimed at addressing unemployment risks. The interview with industry leaders like Pete Redfern emphasizes the importance of these schemes in preserving jobs and supporting economic growth. Redfern's insights underscore the challenges faced by businesses in balancing operational costs and employment retention.
Impact of Schemes on Hospitality Industry
The podcast examines the impact of government schemes, like the 'Eat Out to Help Out' initiative, on the hospitality industry. Discussions with CEOs from Burger King and industry experts highlight the potential benefits and challenges of these schemes. Analysis indicates a mix of optimism and caution regarding the effectiveness and practical implementation of these initiatives in reviving businesses and stimulating consumer activity.
Chancellor Rishi Sunak outlined the government’s plan for rebuilding the economy today. But will it be enough? Adam and Laura are joined by the economist Stephanie Flanders. And we speak to the chief executives of Burger King and the house-building company Taylor Wimpey about what they think of the announcements.
Studio Director: Emma Crowe
Producers: Frankie Tobi, Natalie Ktena, Ben Weisz
Assistant Editor: Sam Bonham
Editor: Dino Sofos
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode