Is the UK ready for an energy shock?

Paul Johnson, former director of the Institute for Fiscal Studies, joins Shelagh Fogarty to explain why rising energy costs, fuel shortages and government decisions could shape the UK economy in the months ahead. Britain faces one of the biggest blows from the Middle Eastern energy crisis, the International Monetary Fund has warned. The IMF warned that the UK economy was “especially exposed” to higher oil and gas prices, and compared the impact to a “large sudden tax on income” for a family. It said higher prices and weaker growth globally were now inevitable, warning: “The world faces yet another shock.” Listen to the full show on the all-new LBC App: https://app.af.lbc.co.uk/btnc/thenewlbcapp #shelaghfogarty #starmer #LBC #fuel #debate #uknews #ukpolitics LBC is the home of live debate around news and current affairs in the UK. Join in the conversation and listen at https://www.lbc.co.uk/ Sign up to LBC’s weekly newsletter here: https://l-bc.co/signup