What does more political chaos mean for your money and the economy?
5/15/202649 min
A week is a long time in politics... and what a week it’s been. But what does all the turmoil mean for our money? And can we blame it all on Labour?
Georgie Frost, Simon Lambert and Lee Boyce discuss the threat to Keir Starmer's leadership and why it has caused some market panic.
If the Prime Minister is ousted, what could the new man or woman in charge change when it comes to tax and wealth?
Nearly a quarter of retailers now no longer accept cash - but there is a cohort of 'cash preppers' tucking money away at home in case of payment outages. Should we care?
NS&I has bumped up the underlying rate on Premium Bonds and made the odds of winning a prize shorter - are they now a good home for your cash again?
And finally, Lloyds Bank launches a first-time buyer mortgage requiring a £5,000 deposit. Is it a good way to step onto the property ladder?
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Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane
Producer: Georgie Frost
Hosted on Acast. See acast.com/privacy for more information.
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Transcript preview
First 90 secondsGeorgie Frost· Host0:00
[upbeat music] Welcome to This Is Money podcast, sponsored by Trading two one two. Download the Trading two one two app and open a Cash ISA with promo code TIM to get the twelve month bonus promo rate of four point five one percent. Terms apply. I'm Georgie Frost, and joining me and Simon Lambert today is Lee Boyce. And coming up, they say a week is a long time in politics, and what a week it's been. But what does all the turmoil mean for our money? And can we blame it all on Labour? Also today, the premium bond prize rate is to rise from July as NS&I also improves its odds of winning. So is Granny's favorite, uh, Granny's favorite once more. Plus, Lloyds launches a first-time buyer mortgage needing just a five thousand pound deposit. Is it a good way to get on the property ladder, though? And are you a cash prepper? Don't forget, to stay up to date with all the latest breaking money news, just go to thisismoney.co.uk or download the app. But first, markets are jittery again, gilt yields are climbing, and mortgage worries are creeping back in. So what's driving it? How much is down to the turmoil in the Labour Party? And what does it ultimately all mean for our money? Simon Lee, welcome. Simon, we had a bit of a text exchange the other day, didn't we? Uh, where I was explaining I am currently out in Canada, and I was at a pub, and on the screen was a large feature on UK politics. It is making