The Rest Is Money 167. Should We Care That Indian Workers Won’t Pay National Insurance?
21 snips
May 7, 2025 The hosts dive into the impact of Indian workers' national insurance contributions and what it means for labor rights. They share a light-hearted anecdote before tackling the serious complexities of the UK-India trade deal, focusing on tariff reductions for whiskey and cars. Concerns about public services amid the regulatory challenges are discussed, alongside the misconceptions surrounding Indian workers. Voter concerns about economic policies and trust in political parties are also scrutinized, alongside the ongoing challenges in UK-US trade negotiations.
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Steph's Funny Producer Story
- Steph McGovern shared a humorous producer story about telling Robert Peston to "finish" during news segments.
- The room of business people burst out laughing at the unintended double meaning of her phrase.
UK-India Deal's Big Market Impact
- The UK-India free trade deal significantly reduces tariffs on whiskey, gin, and cars, opening huge market opportunities.
- India is the biggest whisky market globally, making this deal a big win, despite remaining high tariffs.
Trade Deal's GDP Impact Modest
- Government projects a £25.5 billion trade increase by 2040 from the UK-India deal, but GDP gain is only about £4.8 billion (0.1% of GDP).
- The UK's trade boost is larger than imports from India, benefiting sectors like Scotch whisky and motorcars.