BBC Breakfast host clashes with economist over 2008 crisis comparison: ‘Are Labour right?’

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Nina Warhust welcomed economist Vicky Pryce onto BBC Breakfast earlier today to discuss the financial implications of coronavirus in the UK. However, when the BBC presenter drew a comparison with the long-term impact COVID-19 could have on the economy compared with the financial crisis in 2008, the economist furiously disagreed with the host. 

Nina remarked: “Arguably Vicky we’re in much better shape than we were in 2008.

“With that in mind, were Labour right when they say the furlough scheme for example being tapered from August is too soon. 

“That more state support on those big schemes and bank loans should continue for longer?”

Vicky hit back: “We’re not particularly in better shape, our total government debt has risen very significantly since then.”

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“It’s three times as large now as it was, that was even before the crisis, back before the financial crisis started,” she continued. 

“So we already have huge mountains of debt, the question is how much more can we add?”

More to follow…

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