Can ANYONE fix our economic mess? | Former Sainsbury’s CEO Justin King on business, govt & prices

Former Sainsbury’s CEO Justin King joins Robert Peston to challenge the political narrative around the UK’s "cost of living crisis." In a lively exchange, King argues that the data doesn't support the idea that people are materially worse off, while warning that government tax burdens are actively destroying job prospects for young people. They also discuss the Labour government’s relationship with business, job creation for young people, the reality of supermarket profit margins, and why the "price cap" might be misleading consumers. Key Moments: 00:00 - Introduction: Is business disillusioned with the government? 01:25- Justin King on why taxing jobs is hurting the young 02:30 - Andy Burnham’s "Greater Manchester Model" 04:15 - Has growth actually benefited the majority since 2008? 04:36 - “It’s simply not true”: King challenges the cost of living data 05:18 - Breaking down the household cost chart: Energy vs. Food 08:15 - Are supermarkets profiteering? King defends the UK retail sector 10:30 - The truth about price caps and the impact on inflation 11:58 - Renewables, fracking, and the energy consumption crisis Peston is ITV’s flagship political programme, bringing you analysis, debates, and interview exclusives on the latest in current affairs. Watch the livestream and join the conversation: X: https://x.com/itvpeston TikTok:   / itvpeston   BlueSky: https://bsky.app/profile/itvpeston.bs... #peston #costofliving #ukeconomy #retail #sainsburys #ukpolitics #inflation