{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/9a03fe9e-1ff0-4dcc-b3f6-50bd1f016ea4/802a4b53-f9a5-4bad-91d8-653d3e751f88?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Sunakonomics","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/6195701f2eacc3a36070252a/619570bccb3c660012e3ce1a.jpg?height=200","description":"<p>This week we discuss the government's post-Budget economic strategy and the new dividing lines in British politics.&nbsp;Have the Tories stolen Labour's clothes?&nbsp;Is there a new consensus emerging on tax and pend?&nbsp;What can Keir Starmer do to carve out a distinctive economic position?&nbsp;Plus we consider whether a new Labour leader in Scotland can kickstart a revival of the party's fortunes there.&nbsp;With Helen Thompson and Chris Brooke.</p><p><br></p><p>Talking Points:&nbsp;</p><p><br></p><p>Rishi Sunak’s plan in the short-term is to concentrate on economic recovery and to end pandemic support in a reasonably—but not entirely—gradualist fashion.</p><ul><li>In the medium-term, he’s saying there has to be an emphasis on paying for the pandemic and bringing the level of debt as proportion of GDP back down.</li><li>Sunak wants the Conservatives to go into the next election as the party that claims to be serious about the economy, ie, cautious about debt.</li><li>Both of the parties seem to be hoping that the past will come back—but it probably won’t.</li></ul><p><br></p><p>Starmer put a heavy bet on the competence case against Johnson.&nbsp;</p><ul><li>That worked well for much of 2020. The bet was that Brexit would make things chaotic.&nbsp;</li><li>But the pandemic has gone on longer than people expected, and the vaccine rollout is going well. The furlough scheme has also been continued.&nbsp;</li></ul><p><br></p><p>In two-party politics, the two parties often tend to converge. Is this happening in the UK?</p><ul><li>Both parties have an interest in constructing the convergence as an illusion; but is it?</li><li>Brexit has produced some convergence because Labour isn’t trying to rejoin Europe.</li><li>Financial and monetary market conditions make it possible to sustain huge levels of debt.&nbsp;</li><li>Most of the Western world have responded to China’s industrial strategy by calling for an industrial strategy.</li><li>The Tories are now putting a big emphasis on green energy; this also brings them closer to Labour.</li></ul><p><br></p><p>The politics for each party are different.</p><ul><li>Labour needs to persuade people it has a plausible growth strategy because that is what they need to flourish.&nbsp;</li><li>The big risk for the conservatives is unemployment.</li><li>Labour needs to expand its electoral coalition; this won’t be easy, but the return of mass unemployment might provide one way of doing this.</li></ul><p><br></p><p>Further Learning:&nbsp;</p><ul><li><a href=\"https://www.theguardian.com/uk-news/2021/mar/03/rishi-sunaks-budget-brings-first-corporation-tax-rise-since-1974\" rel=\"noopener noreferrer\" target=\"_blank\">More on Rishi Sunak’s budget</a></li><li><a href=\"https://www.theguardian.com/environment/2020/nov/17/the-key-areas-of-boris-johnsons-green-industrial-revolution\" rel=\"noopener noreferrer\" target=\"_blank\">Johnson’s green energy plans</a></li><li><a href=\"http://blogs.reuters.com/great-debate/2013/01/14/why-public-debt-is-not-like-credit-card-debt/\" rel=\"noopener noreferrer\" target=\"_blank\">Why public debt is not like credit card debt</a></li><li><a href=\"https://www.newstatesman.com/politics/economy/2021/03/keir-starmers-budget-response-was-speech-he-wanted-make-weeks-ago\" rel=\"noopener noreferrer\" target=\"_blank\">On Starmer’s response to the budget</a></li><li><a href=\"https://www.bbc.co.uk/news/uk-scotland-56211065\" rel=\"noopener noreferrer\" target=\"_blank\">Who is Anas Sarwar?</a></li></ul><p><br></p><p><strong>And as ever, recommended reading curated by our friends at the LRB can be found here: </strong><a href=\"http://lrb.co.uk/talking\" rel=\"noopener noreferrer\" target=\"_blank\"><strong>lrb.co.uk/talking</strong></a></p>","author_name":"David Runciman and Catherine Carr"}