It finally happened. After months of speculation about whether we will or not, the UK economy has finally succumbed to recession.
The ONS revealed this week that a drop in GDP in the final three months of 2023 meant Britain had racked up two consecutive negative growth rates and therefore the dreaded R word is here.
But is this bad? Why do we keep talking about the term “technical recession” and do these retrospective numbers mask things that are already improving?
In this week’s podcast, Georgie Frost, Helen Crane and Simon Lambert discuss what the recession means for the UK and for you.
Furthermore, who are the villains among the big banks and building societies when it comes to sky-high standard variable rates for mortgage borrowers? Are they or the customers themselves to blame if someone ends up paying almost 10 percent interest?
Also on the programme, the customer rejected an HSBC exchange bonus because he had a Midland account 21 years ago.
And finally, electric car sales are not growing as fast as the government or automakers want. Does that mean it’s time to negotiate?