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Despatch: The Chancellor won't survive this episode artwork

Jul 4, 2025 8 min

Despatch: The Chancellor won't survive this

from The Capitalist Hosted by CapX

The markets have made their judgment—and it’s far from flattering. As gilt yields climb and confidence wanes, Chancellor Rachel Reeves is facing a fiscal storm of her own making. Economist Damian Pudner weighs in on Labour’s deepening credibility crisis, arguing that the era of cost-free politics is drawing to a close. With pressure mounting on both the Treasury and No. 10, the question is no longer whether taxes will rise, but how swiftly and by how much. The Chancellor is running out of road, the Prime Minister is newly vulnerable—and the world is watching. Stay informed with CapX's unmissable daily briefings from the heart of Westminster. Go to capx.co to subscribe. Get full access to The CapX Briefing at briefing.capx.co/subscribe

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Despatch: The Chancellor won't survive this

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