The trailer for Slumpbusters is currently unavailable; why not try out Surviving the downturn?
Gregg Wallace: The global financial crisis has shaken our economy to its foundation. And all across Britain we’re feeling the impact. Bills are rising fast, jobs are disappearing and house prices are falling. So how did we get into this mess? Tonight, in the fourth part of Credit Crash Britain, with household bills going through the roof I’ll be looking at how we’ve all been forced to change the way we spend our money. Food prices have risen dramatically over the last twelve months, putting a strain on all our wallets. Now millions of us are flocking to the discount supermarkets.
Richard Perks: There is definitely a battle going on between the major supermarkets and the discounters and it’s going to continue, it’s a fact of life.
Gregg Wallace: But just who are they and what’s behind their low prices?
Mike Dawson: People think of them as a very small operation but that’s not the case. You are talking about a €48bn animal.
Gregg Wallace: Tonight they open their doors and reveal their trade secrets.
Richard Perks: I can absolutely guarantee you 20% savings, if you buy a full shop with us it’s more like 30%.
Gregg Wallace: We go behind the scenes at Tesco as they fight back with a new discount range.
Richard Brasher: What you have to be is a bit more chameleon-like. As the economy changes as customers’ needs change, you have to make sure that you evolve with them.
Gregg Wallace: And, can our group of tasters spot the difference between a budget Christmas dinner and one twice the price?
Christmas Lunch Taster: I’d be really impressed if this was the budget option.
Gregg Wallace: I’m Gregg Wallace, and you usually find me judging food or selling fruit and veg, but tonight I’m leaving all of that behind, I’m entering the world of the discount supermarket. I’m going to be tasting their food and finding out why it is people are turning to them. Now, is it possible to be very good and very cheap?
The full programme was broadcast on Thursday 20th November 2008 on BBC TWO.
Max Flint: The global financial crisis has shaken our economy to its foundations, and all across Britain we’re feeling the impact. Bills are rising fast while jobs are disappearing and house prices are falling. So how did we get into this mess?
Tonight, in the third part of Credit Crash Britain, we go inside the wreckage of the property market and report on the end of a beautiful affair between the British and our love of buying homes. As property prices slide, up to two million people could be in negative equity by 2010.
Merryn Somerset-Webb: The house feels like a burden. It doesn’t feel like a home any more.
Max Flint: And if you want to buy, the credit crash has ended cheap mortgages.
Dan Thomas: I think the speed and severity of this downturn is unprecedented. There’s a whole generation of homebuyers who’ve never seen this sort of situation before.
Max Flint: Frustrated first time buyers may be forced to rent for years.
James Cummings: The problem with renting is it sort of feels like you’re throwing money into a black hole.
Max Flint: But is renting the smartest move you could ever make?
Andrew Teacher: Where your mortgage payments and the interest is really starting to effect your quality of life, people are starting to realise that renting is often the better option.
Max Flint: Which makes more money? Is it buying or renting? We've been doing the sums.
Merryn Somerset-Webb: Everybody thinks that property is the best investment you can make.
Max Flint: You’re shattering a lot of illusions here.
Merryn Somerset-Webb: I know, shattering a lot of illusions.
Max Flint: Tonight, is it time to end our love affair with home ownership.
This programme was first broadcast on Thursday 13th November 2008 on BBC TWO.
The global financial crisis has shaken our economy to its foundations; all across Britain we are feeling the impact.
Bills are rising fast, jobs are disappearing and house prices are falling.
So, how did we get into this mess?
Tonight in the second part of our investigation into Credit Crash Britain I’ll be finding out how the borrowing boom came to an end, why the credits dried up, and asking can we survive without easy money?
As our debts reach record levels we’re now counting the cost of a decade of laid back lending.
“How could we of been so stupid? How could we of not realised that some of this lending was just dumb, it was always going to go wrong”
Now the banks are hoarding their money and years of high living have come to an end.
“When the historians look back they will see a society that’s lifestyle was really subsidised by money that was far too cheap”
As mortgage and loan defaults soar, the future for many of us looks bleak.
“We don’t have a life, we have no money to pay for things, we can’t go out, we live on basic food rations, we have no money to spend”
As the banks stop lending, how will you cope now the cheap credit has dried up?
Credit Crash Britain
This programme was first broadcast on Thursday 6th November 2008 on BBC TWO.
Paul Mason: The global financial crisis has shaken our economy to its foundations. And all across Britain we’re feeling the impact. Bills are rising fast while jobs are disappearing and house prices are falling. So how did we get into this mess?
Tonight, in the first part of Credit Crash Britain, we examine the extraordinary events of the week that changed British banking forever, as HBOS, one of the most trusted names in the City, collapsed.
We tell the story of how a storm from Wall Street engulfed the British financial markets, bringing about the dramatic rescue of a once successful institution.
Male speaker 1: The graph of HBOS just went down and down.
Male speaker 2: Every five minutes, auction, auction, auction, auction - never seen the likes of it. This is a major institution tottering between bankruptcy and rescue.
Paul Mason: We explain the last minute takeover by Lloyds TSB against a backdrop of plummeting shares. And ask how did it happen?
Male speaker 3: House prices were going up, it seemed like a great boom, a great opportunity to be expanding loan books, and HBOS exploited that.
Paul Mason: We reveal an internal HBOS document from 2004 in which the Financial Regulator voiced concerns about the Bank’s risk controls. And speaking out about the Bank’s sales culture for the first time, HBOS’ former Head of Regulatory Risk.
Male speaker 4: The retail bank was going at breakneck speed, and an internal risk and compliance function feels a little bit like a man in a rowing boat trying to slow down an oil tanker.
Credit Crash Britain Season Trailer
With the financial crisis raging, BBC TWO makes sense of how it’s changing our world.
So you can see order amidst the chaos.
Credit Crash Britain, what you need to know.
Starts with HBOS: Breaking the Bank, Thursday at 19:30 on BBC TWO.