What will Boris's downfall, a new Prime Minister and Chancellor mean for the economy and our finances?

Jul 08, 2022, 06:09 PM

Boris Johnson finally came unstuck this week and resigned as Prime Minister after one scandal too many caught up with him.

Whatever you thought of the PM - and he certainly has the ability to divide a room almost as well as he can entertain it - there is no doubt that this ushers in another bout of 'what next?' instability for Britain.

The economy is struggling, an inflation crisis is in full swing and the Bank of England is raising rates into a recession, yet at the end of a tumultuous week we are not just down one Prime Minister but a Chancellor and aren't quite sure if the new man in the job will be sticking around very long.

The new Chancellor, Nadim Zahawi, reportedly has designs of his own on the job next door at Number 10 and even if he makes an unsuccessful leadership bid, will a rival want him sticking around.

On this week's podcast, Georgie Frost, Tanya Jefferies and Simon Lambert look at what the change in Prime Minister could mean for the UK's economy, businesses and households - and what a new Chancellor might do and the challenges they will face.

Also, on this week's show, some big UK name household shares have taken a beating this year, but which would the experts pick as having fallen too far and are ripe for a bounce back.

The team look at whether with rates rising, a ten-year fixed rate mortgage is a good move and Tanya talks us through the latest round of state pension mistakes and what the DWP is doing.

And finally, will you end up with a bit more cash when you get paid this month. Yet, another National Insurance change is kicking in, here's what it means.