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Luxury car sales, Energy bills debt, Restaurants worried

We examine why supercar sales are booming despite the cost of living crisis. And there are warnings that households are already running up huge debt on energy bills.

The troubled state of the economy doesn't appear to be denting sales of luxury cars. Profits at Bentley, based in Crewe, were up more than 120 per cent on the same six months of last year. Ferrari also turned in record profits...and sales of Lamborghinis are on the up. This is despite the fact that the overall number of new cars being registered in the UK has fallen for five consecutive months. So how come the sale of supercars is bucking the trend AND during a cost of living crisis...?

With temperatures set to rise to above 30 degrees in some parts of the UK this afternoon, it seems a bit weird to be worrying about our winter energy bills.

Under normal circumstances, many households would be starting to run up a credit on the bills during the summer, as a war-chest to fund the winter bills. But these are not normal times. The energy price cap has already risen, allowing energy companies to charge more, and those additional charges are working their way now into our bills. So much so in fact, that U-Switch reckon UK households already owe energy companies 拢1.3 billion - that's more than three times higher than last year.
Restaurants are gearing up for a tough winter.

And - why restaurants are gearing up for a tough winter. New research for UK Hospitality, the umbrella group which represents the hotel and catering sector, suggests profits could be down 12% in the coming year. And a separate study by accountancy firm UHY Hacker Young says almost two-thirds of the UK's top 100 restaurants are being pushed into the red by rising energy bills and debt repayments. We hear from Chef Raymond Blanc from his restaurant Le Manoir in Oxfordshire, and chef patron Simon Wood, and Telegraph food critic William Sitwell.

PRESENTER: Peter White
PRODUCER: Craig Henderson

Available now

53 minutes

Broadcast

  • Wed 10 Aug 2022 12:04

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