Economist Podcasts Growth negligence: Britain’s budget
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Nov 27, 2025 
Tom Carter, Britain's economics correspondent at The Economist, dives into the UK budget's disappointing growth prospects. He critiques the tax-and-spend plan for lacking measures to boost productivity and argues it ultimately undermines the political center. The discussion also highlights missed reforms that could stimulate growth in areas like migration and employment. Additionally, Robert Guest shares insights from Uttar Pradesh, exploring Yogi Adityanath's dual role as a leader while addressing infrastructure developments and the implications of rising religious nationalism.
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Britain’s Chronic Growth Problem
- Britain suffers from persistently low growth driven by flatlined productivity since 2008.
- The independent forecaster sees little recovery, limiting tax and spending room for growth policies.
Use Windfalls To Protect Growth
- Rachel Reeves should have used the fiscal windfall to blunt tax rises and protect private investment.
- She also could have funded reforms to correct perverse tax incentives that hinder growth.
Short-Term Politics, Long-Term Uncertainty
- The budget raises taxes and increases spending now while some tax hikes are delayed until after the next election.
- That creates more borrowing today and political uncertainty about whether future tax measures will materialize.