Doom, gloom and not much headroom: Spring Statement

Rachel Reeves was forced to slash spending to balance the books in her Spring Statement this week. Welfare spending will be cut more deeply than initially trailed, prompting warnings that 250,000 people — a fifth of them children — could be plunged into poverty. Economists also fear the chancellor will face further tough choices — more cuts or a fresh tax raid — in the autumn. Host Lucy Fisher is joined by the FT’s George Parker and Stephen Bush, as well as economics commentator Chris Giles to discuss the winners and losers, and the main economic takeaways. The panel also examines the impact of Donald Trump’s escalating tariff war on Britain and the global economy. Follow Lucy on Bluesky or X: @lucyfisher.bsky.social, @LOS_Fisher, Stephen Bush @stephenkb.bsky.social, @stephenkb George Parker @GeorgeWParker @georgewparker.bskyb.social, Chris Giles @chrisgiles.ft.comHave a question for our panel? Drop us a line at [email protected]. Record a voice note with your name and question, and email it to us. Want more? Free links: From miserable to mediocre: the Reeves challenge continues Spring Statement did not stem the fiscal doom loop Reeves’ repair job avoids tax increases – for now Ministers play down likely rise in poverty from UK welfare cuts, says charity Sign up here for 30 free days of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. Presented by Lucy Fisher. Produced by Lulu Smyth. The executive producer is Manuela Saragosa. Original music and mix by Breen Turner. The FT’s head of audio is Cheryl Brumley.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.