The Capitalist

With the Chancellor’s spending review looming, ministers are jostling for funds. But with public services under pressure and growth still sluggish, is the government backing the right bets? Plus: what’s really behind Reform UK’s rise in the polls? As support swells in areas hit hardest by poverty, our guests unpack the party’s shifting economic message — and what it reveals about voter discontent in Labour heartlands. CapX’s Marc Sidwell is joined by Maxwell Marlow of the Adam Smith Institute and Alys Denby from City AM for a brisk tour through the week’s economic flashpoints — and what they mean for Britain’s political future.

Former Chancellor Jeremy Hunt offers a spirited defence of Britain’s open-market tradition — and a sharp rebuke of Trump’s tariff tactics. As the world shrugs off ‘Liberation Day’, Hunt argues it’s not America but open economies like Britain that are poised to thrive. With historical perspective and policy punch, he lays out why trade still matters, how globalisation lifted billions out of poverty, and why the UK can lead again — if it chooses to stay open. Despatch is our weekly highlight of the best writing from CapX's daily briefings, brought to you by the team behind The Capitalist.

President Trump’s tariff blitz hits a legal snag — but he's showing no signs of backing down. Marc Sidwell is joined by National Review Institute’s Dominic Pino and the journalist Harry Phibbs to assess what comes next for transatlantic trade. Plus: can Britain turn Washington’s assault on academia into an opportunity? And as China races ahead in the humanoid AI stakes, could Britain still take a seat at the table?

What does chasing a wheel of cheese down a dangerously steep hill say about Britain — and the state? In this Despatch, James Price of the Adam Smith Institute finds wisdom in one of our most eccentric traditions: Gloucestershire’s infamous cheese rolling. What begins as a bruising ritual becomes a spirited case for liberty, localism, and limited government. A celebration of chaos, cheese, and the virtues of keeping Westminster well out of it.

A special edition on the future of Britain’s high streets. As department stores disappear and civic spaces fall silent, we ask: what’s next for the beating heart of our towns?Samuel Hughes, an editor at Works in Progress and fellow at the Centre for Policy Studies, joins us to explore practical ways to revive our high streets. From imaginative public services to smarter regeneration strategies, we consider whether it’s time to think beyond retail — and reimagine what town centres can truly be.

This week's Despatch offers a sharp warning to the Conservative Party from inside the tent. Former Tory candidate William Wellesley argues that the answer to Reform UK’s rise isn’t mimicry — it’s honesty. In a measured but damning critique, Wellesley calls out decades of spin, soundbites and shallow promises from across the political spectrum — and urges the Tories to break the cycle. Only by confronting hard truths, he argues, can the party survive and serve.

Karl Williams of the Centre for Policy Studies and economist Julian Jessop take a clear-eyed look at the politics and economics of migration. Two decades ago, the UK opened its doors to eastern Europe. A modest prediction of 13,000 arrivals became 1.5 million — a shift that continues to shape British politics. Now, with Reform UK on the rise, Labour is gambling that stricter immigration controls will steady the ship. But is it a calculated correction — or a political trap? Meanwhile, as Keir Starmer welcomes EU leaders to London, Downing Street promises a deal for growth, jobs and border security. But beyond the soundbites, what does a post-Brexit success story really look like?

In this week’s Despatch, Karl Williams of the Centre for Policy Studies unpacks Labour’s long-awaited immigration white paper — and asks whether anything’s really changed. From sky-high net migration targets to fudged visa reforms and a rebrand of the widely abused ‘shortage occupation’ list, Labour’s plans are long on rhetoric but risk being short on action. Worse still, the numbers show that even now, the UK’s immigration model remains historically unprecedented, economically unsustainable, and politically combustible. Will Labour’s technocratic tinkering bring about genuine reform — or is it just more of the same? This is a clear-eyed look at the promises, the policy and the political price of failure.

For the first time in modern British history, young men are now more likely than young women to be out of education, employment or training. It’s a trend mirrored across the Atlantic — and it raises a stark question: are boys and men being left behind? In this special edition, we bring you a timely conversation exploring the data, the causes, and the political consequences of male economic decline.Richard Reeves, President of the American Institute for Boys and Men and author of ‘Of Boys and Men’, joins leading demographer Nicholas Eberstadt, author of ‘Men Without Work’, in a conversation chaired by The Times columnist Fraser Nelson — recorded live with the Centre for Policy Studies in London.