Bloomberg UK Politics

The podcast dives deep into the Labour Party's ongoing debate over what defines 'working people'. It highlights the tense lead-up to the government’s first budget amid scrutiny of tax policies. Insights from a former chief of staff reveal the challenges of turning political rhetoric into effective tax laws. The conversation also tackles the current economic climate and the necessity for clear communication as Labour navigates fiscal hurdles. Additionally, it discusses the internal dynamics within the government that could impact their strategies.

Dan Hanson, Bloomberg's Chief UK Economist and former HM Treasury economic adviser, delves into the upcoming Labour budget, the first in 14 years led by a female Chancellor. He discusses key expected tax changes, like potential increases in income and inheritance taxes, and their implications for taxpayers. The conversation also covers balancing investment strategies between public sector enhancement and private investments while considering the economic sentiment surrounding these changes. Insightful analysis on navigating fiscal changes in UK politics is also provided.

Elish Angiolini, head of St Hugh's College and former Lord Advocate of Scotland, discusses her candidacy for Chancellor of Oxford University. The conversation highlights the significance of this historic role amid a crowded field of 38 candidates, including notable figures like Dominic Grieve and Peter Mandelson. Angiolini addresses the evolving responsibilities of the Chancellor, the critical funding challenges in higher education, and Oxford's efforts to increase accessibility amidst traditional biases, reflecting on the institution's influence on future political leaders.

Tom Rees, Bloomberg's UK economy reporter, delves into the alarming financial crisis facing local councils in the UK. He highlights that a quarter of councils may require emergency bailouts to avert bankruptcy. Topics include the dire budgetary pressures in cities like Birmingham and Nottingham, the struggle with limited council tax increases, and the impact of service reductions on community welfare. Rees emphasizes the urgent need for intervention from the Labour government to stabilize local services and avoid further deterioration.

Guest Lucy White, a Bloomberg economics and government reporter, shares her insights on the Labour Party's plans for NHS funding. She discusses Rachel Reeves' budget allocation aimed at addressing the NHS's financial woes, including a significant £22 billion shortfall. The conversation highlights public engagement in shaping NHS reforms, tackling challenges from an ageing population, and the potential of technology to improve efficiency while raising concerns about data privacy. It's a thought-provoking look at the future of healthcare in the UK.

Ailbhe Rea, Bloomberg's associate editor, dives into the surprising rift among UK ministers as they express alarm over impending spending cuts. She reveals how these ministers bypassed the Chancellor to voice their concerns directly to Prime Minister Keir Starmer, marking a rare and dramatic move. The discussion highlights fears that cuts could stifle growth and betray electoral promises, underscoring the mounting tensions within the Cabinet. Ailbhe also touches on the Labour Party's evolving budget strategy amidst a wave of austerity pressures.

Nimesh Shah, CEO of Blick Rothenberg, offers insights into the tax landscape affecting the super wealthy. He discusses Keir Starmer's meeting with Foreign Investors for Britain, aimed at addressing fears of wealthy individuals leaving the UK due to proposed non-dom tax changes. Shah analyzes the potential economic impacts of these reforms and the concerns of entrepreneurs about the shifting tax climate. He emphasizes the need for stable policies to encourage investment and highlights the tension between public service funding and tax reforms.

The UK Government is hoping private investment will kick-start Britain's economy, and at its summit for global business yesterday it pointed to £63 billion coming into the UK. Prime Minister Keir Starmer sat down with our Head of Economics and Politics Stephanie Flanders for an exclusive interview on what he's doing to win over business and what lies ahead in the budget. See omnystudio.com/listener for privacy information.

The UK's International Investment Summit has kicked off at the Guildhall, with Prime Minister Keir Starmer saying he'll do whatever it takes to bring investment into the country. But, after a number of challenges for the government in the lead up to the conference - are industry players convinced? Bloomberg's Joe Mayes joins us from the event with his analysis. Hosted by Caroline Hepker and Lizzy Burden.  See omnystudio.com/listener for privacy information.

Richard Harrington, a former Conservative minister known for his review on foreign direct investment, discusses the Labour government's early initiatives and business sector engagement. He analyzes concerns from investors about Labour's commitment to economic growth and stability. The conversation covers the timing of an upcoming business summit, the challenges of taxation versus growth, and the need for effective government-business partnerships. Harrington emphasizes the importance of a stable investment climate to attract global investors amid mixed economic signals.