Welfare Spending: Is There a Moral Panic?

The countdown is on: Chancellor Rachel Reeves has just six weeks to finalise her Autumn Budget before the November 26 deadline. This week, she was in Washington DC for the annual meeting of the IMF, where she hinted at tax rises for the rich, while pinning some blame for Britain’s economic problems on her predecessors. The British public are not likely to love the chancellor’s efforts to fill the projected £22bn hole, but who will they hold responsible? 

Host George Parker is joined by deputy opinion editor Miranda Green, associate editor and columnist Stephen Bush, and the FT’s economics commentator Chris Giles for a deep dive into the UK’s public finances, and to explain why the China spy case roiling Westminster is all about economics.

Follow George on: @georgewparker.bsky.social or @GeorgeWParker; Chris on @chrisgiles.ft.com or @ChrisGiles_; Stephen on @stephenkb and Miranda on @greenmirandahere.bsky.social or @greenmiranda

Want more?  

Clear visions for tax reform exist — Reeves just needs to back one

How Brexit drained the Tories’ talent pool

No need for a moral panic about the welfare system

Letter: Only a strong economy can address Britain’s worklessness crisis

Rachel Reeves suggests spending cuts and tax rises on way

Join Chris Giles and FT colleagues Katie Martin and Claire Jones in conversation with former Fed vice-chair Lael Brainard and Fidelity’s Salman Ahmed on October 23 1200 GMT for an exclusive subscriber webinar Markets on edge: central banks, bonds and the risks ahead. Register now and put your questions directly to the panel at ft.com/edge

And click here to sign up for Chris Giles’ newsletter on Central Banks.

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Our email address is politicalfix@ft.com

Political Fix was presented by George Parker and produced by Ethan Plotkin. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.

Clip from Sky News

Read a transcript of this episode on FT.com

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