Afternoon Briefing Wednesday 20th September

    enSeptember 20, 2023

    Podcast Summary

    • Government's Potential Delay of Ban on New Petrol and Diesel CarsDespite the UK government's commitment to net zero emissions by 2050, the potential delay of the ban on new petrol and diesel cars leaves businesses uncertain and in a difficult position, with inflation adding to their challenges.

      Businesses, regardless of size or industry, are facing uncertainty as the UK government may delay the ban on selling new petrol and diesel cars. Ford has expressed disappointment over this potential policy shift, while the government aims for a "pragmatic" approach. Elsewhere, a police officer has been charged with murder in a case that sparked anti-racism protests. Inflation continues to pose challenges, with food inflation at 13.6% and clothing prices increasing by 7%. Darren Jones, the shadow chief secretary to the treasury, criticized the apparent policy change, stating it leaves British businesses in a difficult position after they had received subsidies to prepare for the 2030 target. The government's commitment to net zero emissions by 2050 remains, but the approach to achieving it is under debate.

    • UK Inflation Rates and Bank of England's DecisionThe chancellor anticipates decreasing inflation, but the BoE's interest rate decision is uncertain. Economists predict up to 5.5% inflation, while some suggest a pause. Inflation varies across the UK, with London seeing the highest. Quince offers affordable, high-quality items, and 1800flowers.com creates thoughtful, detailed gifts.

      The chancellor expects inflation to decrease significantly by the end of the year, but the Bank of England's decision on interest rates remains uncertain. Economists predict a possible increase to 5.5%, but some argue that a pause would be more prudent given the economy's recent changes. Inflation rates vary across the UK, with London seeing the highest increase at 5.9%, while the northeast and southwest had the lowest. It's essential to note that economic discussions are ongoing, and various perspectives exist. Meanwhile, consumers looking to upgrade their style without breaking the bank can consider Quince, a brand offering high-quality items at significantly lower prices than luxury brands. Quince prioritizes safe, ethical, and responsible manufacturing. Lastly, 1800flowers.com is more than just a gift-giving platform. They put heart and care into every product, ensuring that each gift is made with love and attention to detail, making every occasion special.

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    Read Hans Sennholz on Hyperinflation at Mises.org/HyperInflation

    Find Henry Hazlitt's What You Should Know About Inflation at Mises.org/InflationHazlitt

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