Your wallet might have already started to notice the impending cost of living crisis, with the price of many essential goods already beginning to rise. So in this video, we explain how bad the crisis is expected to get, why tax hikes are expected to only increase the burden and how this could impact Johnson’s time in Number 10.
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1 – https://www.statista.com/chart/24330/uk-tax-burden-as-share-gdp-timeline/
2 – https://www.bbc.co.uk/news/business-59074026
3 – https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/953118/outturn-and-forecast-autumn-budget-2020-revised.xlsx
4 – https://www.ft.com/content/cc960e4d-a1f2-48b7-b506-a7ffbfc63fff
5 – https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/cpiconsistentinflationrateestimatesforukhouseholdgroups/2005to2021
6 – https://twitter.com/ONS/status/1488446658283294721
7 – https://www.theguardian.com/society/2022/feb/07/1m-uk-adults-go-entire-day-without-food-in-cost-of-living-crisis
8 – https://www.bankofengland.co.uk/knowledgebank/will-inflation-in-the-uk-keep-rising
9 – https://www.ft.com/content/7d5aff7f-9e9f-494c-a8f1-a4dc72f98d88
10 – https://www.theguardian.com/commentisfree/2022/feb/06/observer-view-on-britain-cost-of-living-crisis
00:48 Defining the Crisis
04:35 How Bad Will Things Get?
06:33 How Long Will It Last?
07:55 Political Implications