UK living standards falling and fiscal challenges

The podcast episode explores the reasons behind declining living standards in the UK and the fiscal challenges facing the government. It discusses the impact of spending cuts, tax cuts, and tax rises on the economy. It highlights the role of interest rates in pushing up the cost of government borrowing and examines the consequences of higher debt interest bills. The episode emphasizes the need for higher levels of investment in order to improve economic growth, but also explores the difficulties in finding the necessary resources and making the tough choices between consumption and investment.