The spiked podcast How Rachel Reeves is bankrupting Britain
Nov 28, 2025
Liam Halligan, an economist and journalist known for his insightful analysis, joins the discussion to unpack the alarming autumn budget. He critiques the impact of high taxes on public services and explores the consequences of recent fiscal policies. Halligan warns about the risks of the Employment Rights Bill and its potential to stifle hiring. He delves into stagnant growth, inflation concerns, and the implications of rising oil prices on the UK economy. His sharp insights highlight the urgent need for reform and a clearer understanding of fiscal dynamics.
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Public Finances Arrived In A Fragile State
- Liam Halligan warns Britain inherited near-90% national debt and a 70-year high tax burden which constrains policy options.
- He argues Rachel Reeves worsened this by raising taxes and borrowing further, creating fiscal strain.
Tax Rises Paired With Bigger Borrowing
- Halligan highlights Labour's budget increased annual taxation by around £70bn while also massively increasing borrowing.
- He warns this front-loads pain toward the next election and risks unsustainable debt dynamics.
The State Blob Is Eating Productivity
- Halligan says large public sector size and rising public-sector pay have harmed productivity and crowded out services.
- He stresses generous public-sector pensions are unaffordable and drive local tax rises and service decline.