UK Gas, Energy Firms Set for Up to £170 Billion Excess Profit

The transcript discusses the potential expansion of the windfall tax in the UK, highlighting internal government debates and political stances, particularly those of Liz Truss and Rishi Sunak. It examines the impact of rising energy prices on inflation, with forecasts suggesting significant economic challenges. The discussion underscores the potential economic consequences, including a GDP drop, and the challenges facing the next Prime Minister and the Bank of England in managing the crisis.

What are the potential implications of continuing the windfall tax according to the text?

How do the rising energy bills relate to inflation forecasts in the UK?

What historical context is provided regarding inflation levels in the UK?

What are the expected consequences of the energy cost increases on GDP according to Goldman?

What challenges does the next Prime Minister face regarding the cost of living crisis?