Intro

The Spectator’s economics editor Michael Simmons is joined by the outgoing boss of the Institute for Fiscal Studies Paul Johnson and the CEO of the Resolution Foundation Ruth Curtice to understand why Britain’s economy is in such a bad place. Given it feels like we are often in a doom loop of discussion about tax rises, does this point to a structural problem with the British economy? And why are the public’s expectations so out of line with the state’s capabilities?

Michael, Paul and Ruth talk about whether it’s fair for Labour to claim they’ve been ending austerity, the extent to which the effects of the covid-19 pandemic are still being felt and if tax rises are inevitable. Plus – if Ruth and Paul had the opportunity to be an economic Treasury dictator, what one policy would they enact to make a big change?

Produced by Patrick Gibbons.