The Public Transcripts 39 Sir Jonathan Cunliffe CB Managing Director, Financial Regulation & Industry, 2002 Managing Director, Macroeconomic Policy and International Finance, HM Treasury, 2002 to 2007

Sir Jonathan Cunliffe CB Managing Director, Financial Regulation & Industry, 2002 Managing Director, Macroeconomic Policy and International Finance, HM Treasury, 2002 to 2007 talks about the Treasury's attempts to guess on the impact of the war on the oil price and the impact that would have on the UK. His statement that the increase of the oil price to a peek of $150 rather than $40 has had little effect on the world economy seems to fly in the face of the reality of the credit crunch which may not be related but for as long as I've been working in the oil industry when I'm making money everyone else is broke and when everyone else is making money I'm broke...?