This week’s conversation with Mike Graham on the The Mike Graham Show covered everything from the ridiculous to the downright expensive. And, as usual, there was plenty to discuss when it came to politicians spending our money.
We even managed to predict another Bank of England interest rate rise before it was announced later that day.
Watch my latest conversation with Mike Graham below.
Booze Cruises — From Wales to England!
Forget travelling to France for cheap alcohol. Thanks to the Welsh Government, people might soon be making booze cruises across the Severn Bridge!
Wales has increased its minimum alcohol price by 30%, creating potentially significant differences in what shoppers pay for the same drinks on opposite sides of the border.
But is this helping public health, or simply encouraging people to spend their money in England?
50mph Motorways and the Port Talbot Steelworks
We also discussed the irony of reducing motorway speed limits to improve air quality near one of Britain’s biggest industrial sites.
Pollution has fallen, but how much of that improvement is genuinely down to the speed restrictions? And should these limits remain indefinitely?
Brexit’s £800 Million Bureaucracy Bill
One of the week’s more extraordinary stories concerned the £800 million reportedly spent establishing post-Brexit food and agricultural border checks.
With Britain discussing closer alignment with the EU, could some of that expensive infrastructure become unnecessary?
We also looked at what the latest export statistics actually tell us about trade with Europe, and whether politicians are preparing to take Britain closer to Brussels.
Mike even managed to bring smoky bacon crisps into the Brexit debate!
Labour, Employers and the Minimum Wage Dilemma
We revisited the controversial comments from Labour minister Emma Reynolds about employers and working people.
With around 1.47 million businesses employing staff across the UK, it’s hardly surprising that her remarks provoked such a strong reaction.
As I explained to Mike, I’ve rarely seen such an angry response to comments from a Labour minister, particularly from small-business owners who work long hours keeping their businesses running.
But we also discussed something particularly important for younger generations: the rising cost of employing inexperienced workers.
Having previously worked closely with the Low Pay Commission during my time at the Office for National Statistics, I explained why lower minimum wage rates were established for younger workers.
The principle was straightforward: give employers an incentive to recruit people with little experience and help young people get their first step on the employment ladder.
Labour wants to narrow the gap between younger and older workers’ minimum wages. That could improve pay for those in work, but could it also make employers more reluctant to give young people their first opportunity?
Interest Rates Up — And Energy Bills Could Rise 29%
We also warned about the growing pressure on household finances, with mortgage costs already increasing and energy bills potentially heading significantly higher.
During Thursday morning’s interview, I predicted another Bank of England interest rate increase. Hours later, the Bank raised its benchmark rate from 3.75% to 4%.
Meanwhile, the latest energy supplier forecasts suggest that the typical annual energy bill could rise by around 29% in January — almost £500 extra a year.
That’s a forecast, not a confirmed increase, but it would be another substantial blow to household budgets.
And with much of the inflationary pressure coming from global energy markets, we discussed whether putting up interest rates risks making an already difficult situation worse for families and businesses.
Watch the full conversation above for the statistics, arguments and occasional humour behind this week’s headlines.
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✍️ Jamie Jenkins
Stats Jamie | Stats, Facts & Opinions
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