Debt bomb: the £100 billion problem nobody talks about

Before the first missiles landed in Tehran, Rachel Reeves had been looking forward to today’s Spring ‘forecast’ statement, which was designed to be the lightest-touch intervention by a Chancellor since Philip Hammond in 2018: no OBR scoring of her fiscal rules, no tax announcements, no major policy changes and, crucially, no months of damaging speculation about black holes or gilt yields in Britain’s fragile economy. The strategy worked, with barely any chatter ahead of time and the only real question being how small her measures would be – until turmoil in the Middle East sent oil and gas prices surging, markets tumbling and bond yields climbing, threatening to render parts of her forecasts outdated. The detail, however, will matter: whether longer-term inflation expectations creep up again, whether unemployment – already above previous forecasts – rises further, and how credible her spending plans look in the eyes of the OBR. Whatever she reveals, we’ll bring you live reaction and analysis.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

Why are one in five school children classified as special educational needs and disabilities (SEND) in 2026? The rates of children being diagnosed with neurodiverse conditions have scaled to disproportionate rates and the costs are a major concern for the government. Michael Simmons takes a look at the data and explores why devolution has provided some kind of a solution. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

There is an area of public spending nearly double what Britain spends on defence, more than policing borders or our streets. It's servicing the costs of what Britain has borrowed in the past. The growing debt bomb is continuing to climb with real consequences for the taxpayer. Michael Simmons takes a look at the data and speaks to the economist Paul Johnson about what political measures the government will have to take to tackle Britain's debt crisis, what it means for the taxpayer and why the reviving modern monetary theory movement is nonsense.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

This week Keir Starmer faced the greatest challenge to his premiership yet. What will this Prime Minister will be remembered for? Policies which hurt young people. From student loan debt crisis, tax thresholds, ISA allowances and the pensions triple lock, what hope is there for young Brits? Michael Simmons has the data. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

Michael Simmons speaks to American economist Peter Schiff about the surge in gold prices, the weakness of the US dollar and why he believes the next major economic crisis is approaching. Schiff argues that recent dips in precious metals are a buying opportunity, warns that years of low interest rates and money printing have created a 'bubble economy' and explains why he thinks cryptocurrencies are 'speculative mania'.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

Housing minister Steve Reed has been boasting about Britain’s housing market since Labour came into office – but is he right to celebrate? The country’s housing crisis seems to be delivering the worst of both worlds. Young people trying to get on the property ladder are being priced out by stubbornly high costs, while older homeowners looking to downsize find themselves trapped, with too few buyers able to afford their homes. Michael Simmons takes a look at the data. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

When Andy Burnham put forward his bid to stand in the Gorton & Denton by-election, the bond markets wobbled. What does this say about the state of Labour and their reputation with the markets? Michael Simmons speaks to former Treasury and Downing Street advisor James Nation about Labour leaders and fiscal policy, why Rishi Sunak was right on inflation and what he has learnt in the private sector since leaving the Treasury. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

The SNP announced their budget last week promising to cut taxes for low income earners. Could this be the smallest tax cut in history? Michael Simmons has the data. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

Thousands of homes across the South East have been without water for four consecutive days. South East Water’s record on water supply interruptions is one of the worst in the sector. Ofwat, the regulator, has placed it in the bottom three companies for disruptions each year from 2020 to last year. What has happened to the water industry in the past decade? And would nationalisation fix it? Michael Simmons is joined by The Spectator's business editor Martin Vander Weyer. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

Reform UK may be leading in the polls on a mandate to hit net zero migration – but could this come sooner than Nigel Farage may think? Michael Simmons returns to Reality Check to explain what's really going behind Britain's migration figures. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcastsContact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.