Last week the Bank of England moved interest rates to their highest level in almost a decade. If you’ve got a mortgage, it might get more expensive. If you’ve got savings, you might get a bit more interest on your money.

Does this tell us anything about what the Bank of England thinks is going to happen to the economy? And was it the right decision?

Ayeisha Thomas-Smith speaks to Alfie Stirling, head of economics at the New Economics Foundation.

Find Ayeisha's new 4-part BBC Radio 4 series, Economics with Subtitles, on iPlayer Radio: https://www.bbc.co.uk/programmes/b0bf9lbd

Enjoying the show? Tweet us your comments and questions @NEF!

Produced by James Shield.

The award-winning Weekly Economics Podcast is brought to you by the New Economics Foundation – the UK's only people powered think tank. Find out more at www.neweconomics.org

Why the interest rate hike was a bad move

Award-winning podcast about the economic forces shaping our world, with Ayeisha Thomas-Smith and guests. Brought to you by the New Economics Foundation – the independent think tank and charity campaigning for a fairer, sustainable economy.

News

Almost three million people in the UK are unemployed and unable to work because they are ill or disabled. According to the right-wing media, these people aren’t nearly as unwell as they claim. Meanwhile a UN committee warned that disabled people in the UK are subjected to a “traumatising” benefits system. 

We have a social security system that’s been stripped to the bone and millions of people are struggling to afford the essentials as a result, yet both of the main political parties are desperate to be seen as “tough on benefits”.

So what’s gone wrong with our social security system? Why are politicians so intent on alienating those who rely on it? And how can we build a system that gives everyone the support they need?

Ayeisha Thomas-Smith is joined by Kaliya Franklin, freelance disability policy expert and campaigner, and Mikey Erhardt, campaigner at Disability Rights UK.
-------
Music: Thoughtful by Lee Rosevere, Free Music Archive: https://freemusicarchive.org/music/lee-rosevere/music-for-podcasts-serious/thoughtful-2/, used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/.

Produced by Katrina Gaffney, Margaret Welsh and James Rush

The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future

New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

New Economics Podcast: Why is the benefits system failing disabled people

Britain’s favourite broadcaster David Attenborough once said: “Anyone who thinks you can have infinite growth in a finite environment is either a madman - or an economist.”

But our political leaders don’t seem to agree. Both our major political parties have made growing the economy a key metric for their success in government.

So what is economic growth? How did it become so central to our understanding of the economy? And should we really be striving for infinite growth on a finite planet?﻿

Ayeisha Thomas Smith is joined by Kate Raworth, economist and author of Doughnut Economics,﻿ and Michael Jacobs, professor of political economy at the University of Sheffield.

-------

Music: Under Suspicion by Lee Rosevere, Free Music Archive: https://freemusicarchive.org/music/lee-rosevere/music-for-podcasts-serious/under-suspicion/, used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/.

Produced by Katrina Gaffney, Margaret Welsh and James Rush

The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future

New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Should we be going for growth?

We’re waiting longer than ever for hospital appointments, our kids’ schools are literally crumbling, and homelessness has sky-rocketed in the past year. This week’s spring budget was a vital chance for chancellor Jeremy Hunt to respond to the huge problems our country is facing.

But instead of trying to fix any of our problems, the chancellor announced a cut to national insurance that will benefit the richest households twelve times more than the poorest.

So what do Jeremy Hunt’s announcements mean for people across the UK? Why are the opposition talking about maxed out credit cards? And what needs to happen to save our public services and boost living standards for all?

Ayeisha Thomas Smith is joined by Hannah Peaker, director of policy at the New Economics Foundation, and Lydia Prieg, head of economics at the New Economics Foundation

-----

Music by Podington Bear, used under Creative Commons licence: creativecommons.org/licenses/by-nc/3.0/.

Produced by Katrina Gaffney, Margaret Welsh and James Rush

The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future

New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Spring budget reaction

Worried about your carbon emissions? Don’t stress! You can pump out as much as you want - as long as you buy some offsets to balance it out. Scared of the collapse of wildlife? No problem! We can figure out how much money our ecosystems are worth, and let the market do the rest!

Welcome to the logic of green capitalism. Fossil fuel giants claim to celebrate sustainability while pumping out toxic emissions. Governments are relying on carbon offsets to make their climate promises add up. And we’re told that we can fight the climate crisis with the magic of economic markets.

Why have corporations got so interested in sustainability? Will carbon offsets save us - or are they just a cute accounting trick? And if wind and solar energy are so cheap, why haven’t we embraced them?

﻿﻿Ayeisha Thomas-Smith is joined by ﻿Adrienne Buller, author of The Value of a Whale: On the illusions of green capitalism, and Brett Christophers, ﻿author of The Price is Wrong: Why capitalism won’t save the planet.

-------

Music by Serge Quadrado, used under Creative Commons licence: https://creativecommons.org/licenses/by-nc/4.0/.

Produced by Katrina Gaffney, Margaret Welsh and James Rush

The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future

New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Can capitalism save the climate

It’s 2024 and in Westminster an election is at the forefront of everyone’s minds. Step back a little further and across the UK millions of us are more concerned with how we’ll afford to pay their sky-high rent or energy bills. Zoom out further again and we see a world where billions of people are reckoning with the threat of the climate crisis.

For the first episode in a new series of the New Economics podcast, Ayeisha is joined by the new chief executive of the New Economics Foundation, Danny Sriskandarajah, to discuss the biggest challenges facing the world and how we can win a new global economy.

-----

Music by Podington Bear, used under Creative Commons licence: https://creativecommons.org/licenses/by-nc/3.0/.

Produced by Katrina Gaffney, Margaret Welsh and James Rush

The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: https://neweconomics.org/donate/build-a-better-future

New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Why the interest rate hike was a bad move

Download our free app to listen on your phone