Ben Zaranko, a Senior Research Economist at the Institute for Fiscal Studies, breaks down Labour's first budget in nearly 15 years. They discuss the £40 billion tax increase's impact on public spending and the NHS. The conversation delves into the risks tied to increased borrowing and the shift toward a social democracy strategy. Zaranko highlights potential long-term benefits of frontloading investment, while also considering the global economic challenges and implications of US elections on UK trade.

Ben Zaranko, a Senior Research Economist from the Institute for Fiscal Studies, dives into the fiscal challenges facing Labour, spotlighting a funding gap of £22 to £100 billion. He critiques the term 'black hole' in public finances while urging for transparency and accountability in economic policies. The conversation also touches on the balance of fiscal rules with investment needs, Labour's political landscape, and its commitment to workers' rights under Angela Rayner. Finally, it previews insights from former Conservative voters who've switched to Labour.