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Podcast: Beyond Currency
Episode: 13 May 2022 - Economy shrunk by 0.1% in March as cost-of-living crisis bites
Description: The UK economy shrank by 0.1% in March as consumers slashed their spending as the price of energy rose. Even though the price cap had not yet been raised.
The data is seen as a prelude to a far bigger fall when data for April is released. Chancellor of the Exchequer Rishi Sunak confirmed that he has always said that he is ready to support households.
While not strictly true, this comment will be welcomed in households across the country that are struggling to pay their bills as the level of disposable income continues to fall. Sunak went on to say...