The “predatory” companies profiting from UK cost of living crisis | Economics | New Statesman

A “grasping and predatory system” sees corporate giants profiteering off those in need, says Labour MP Angela Eagle.

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Whilst food prices are rising at “almost four times the rate of wages”, company profit margins are “doubling and tripling” since the pandemic says Angela Eagle, member of the treasury select committee and MP for Wallasey. Corporate companies are profiteering from consumer confusion and the Bank of England is forced to increase interest rates to manage the economy – at the risk of a recession.

Will Dunn, business editor of the New Statesman, interviews Angela Eagle on the extent of profit led inflation (“greedflation”), its impact on the UK economy, and what Rishi Sunak’s government can do to hold corporate companies responsible.

Read Will Dunn’s article, The Age of Greedflation, here

Watch Will discuss his article on the New Statesman podcast, here

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