Coffee House Shots What is going on in the Treasury!?
Nov 14, 2025
The podcast dives into a surprising U-turn by Labour on income tax plans just ahead of the Budget. Panelists explore the chaotic pre-budget process and criticize last-minute updates. They question whether the Treasury has failed in its duties and whether Labour mishandled communication about tax increases. The discussion also highlights the absence of a robust long-term economic strategy for Labour and the pressing need to tackle entrenched costs like pensions and welfare reforms. It’s a lively debate on political strategy and fiscal responsibility!
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Income Tax U-Turn Reveals Fiscal Fragility
- Labour abandoned a planned income tax rise after markets and new OBR numbers shifted the calculus.
- The change exposed how fragile fiscal planning has become close to the budget date.
Weekly OBR Fluctuations Undermine Budgets
- The budget process has become unstable with weekly shifting OBR numbers right up to the deadline.
- That volatility undermines coherent political messaging and economic planning.
Treasury Process And Performance Under Scrutiny
- The Treasury's process and performance look