{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"","title":"Upload your country's tax code to AI? Ask for personalised (legal) tax avoidance tips and tricks? Mental health issues in Ireland have little to do with the economy?","description":"- In this episode, Jim outlines the backdrop to the UK autumn budget: inflation rising to 3.5%, transport inflation at 6.6%, higher borrowing, and the likelihood of another Bank of England rate increase.
- The pair discuss the argument that the UK’s strength lies in high value professional services, including consulting, legal work, computer programming, and AI related business investment.
- They note that UK innovative companies have absorbed more than one-third of European venture capital in the first nine months of the year, reinforcing the case for not damaging the sector with heavier taxes.
- Jim and Chris revisit the debate over tax complexity, using Tim Harford’s critique of Britain’s “bad taxes” and examples like VAT oddities, National Insurance, and the enormous length of the UK tax code.
- The conversation highlights how complexity creates demand for tax lawyers and accountants, while AI may eventually let ordinary people search for loopholes or understand the system more easily.
- In energy, they discuss the UK government’s approval of the Jackdaw gas field and the proposed Rosebank oil field, framing both as pragmatic responses to energy security, jobs, and winter heating needs.
- They debate the tension between climate goals and the reality that the UK still needs fossil fuels, especially when domestic supply may have lower carbon consequences than importing liquefied gas from overseas.
- Chris explains that high oil and gas prices may partly reflect countries quietly rebuilding strategic reserves after running them down.
- The second half shifts to youth mental health, prompted by a Jigsaw report showing increased demand in Ireland for services and a deterioration in young people’s mental health.
- They explore possible causes: mobile phones, social media, war, housing pressure, job insecurity, AI related anxiety, and the weakening of friendship and community networks.
- Chris argues that data on mental health is hard to interpret because increased reporting may be driving some of the apparent rise, but he also notes there are real service backlogs, including 400,000 children waiting for mental health support in the UK.
- The discussion ends on a broader reflection that material living standards have improved over decades, so the explanation for worsening wellbeing may lie more in social connection than in economics alone.
","author_name":"Jim Power & Chris Johns"}