Reeves's Budget: the morning after the night before

In this discussion, Katy Balls, Political editor at The Spectator, and David Miles, economist from the OBR, dissect the aftermath of Rachel Reeves's Budget. They explore the mixed reactions, pinpointing key losers and pondering potential winners. The conversation highlights a hefty £70 billion government spending increase and its sustainability concerns. Internal tensions within Labour over fiscal policies are scrutinized, along with the budget's hidden impacts on households, pointing to rising taxes and longer-term financial burdens.