The Capitalist

Britain is spending more than ever—but getting less. Public debt is soaring, growth is non-existent, and dissatisfaction with public services has never been higher. The government talks tough on cuts, but the real crisis is deeper: a bloated state that punishes efficiency and rewards failure. The one word no politician dares to take seriously? Productivity. If public sector performance matched the private sector, we’d unlock £100bn a year—no tax hikes, no cuts, just better government. So why isn’t it happening? And who, if anyone, has the courage to fix it? Listen now to Tim Knox's diagnosis of Britain's great stagnation—and what we can do about it.

A reality check for Britain’s economy? Chancellor Rachel Reeves’ Spring Statement reveals growth forecasts have been slashed in half. Can Labour still deliver on its economic pledges? City AM’s Alys Denby weighs in. Plus: a bold call for reform from Andrew Griffith, Shadow Secretary for Business and Trade, as he sets out his vision following the latest Looking for Growth policy summit.

As Britain reflects on 50 years since Margaret Thatcher took the helm of the Conservative Party, the outlook for free-market thinking—and a dynamic economy—has rarely seemed so uncertain. In this special edition, CapX Editor-in-Chief Robert Colvile is joined by former Chancellor George Osborne and Professor Sir Niall Ferguson of the Hoover Institution to chart a course for the party’s future. Recorded live at the Margaret Thatcher Conference, this episode is presented in partnership with the Centre for Policy Studies.

As the world shifts and alliances evolve, could a partnership between Canada, Australia, New Zealand, and the UK form a Fourth Global Power? While CANZUK wouldn’t rival the US militarily, its collective strength would command the kind of respect that Washington—especially under leaders like Trump—reserves for serious players. With global instability on the rise, the economist Andrew Lilico asks whether it's time to make this alliance official. Despatch is a fresh addition to The Capitalist, bringing you the sharpest insights from CapX’s daily bulletins.

With US support for Ukraine waning, can Europe step up before the situation spirals? Plus, are Trump’s tariffs making Washington a volatile trading partner? And what lessons could the UK take from Texas on prison reform? CapX's editor Marc Sidwell is joined by Frances Lasok from the Conservative Policy Forum and Conservative Home’s Harry Phibbs to unpack the latest political currents and market movements.

As Trump humiliates Zelensky, has Washington quietly decided to switch sides? In this Despatch, Bruce Anderson dissects a moment of historic uncertainty—one that rivals the upheaval of the post-Pearl Harbor years. With Europe forced to rethink its reliance on US protection and negotiations with Moscow looming, what comes next for Ukraine, NATO, and the global balance of power? Despatch is a fresh addition to The Capitalist, bringing you the best writing from CapX's unmissable daily email briefings.

After last week's stunning scenes in the White House, murmurs of President Zelensky’s downfall are growing louder. Could he be sidelined in favour of a Kremlin-friendly puppet? Meanwhile, Washington hints that Britain could dodge tariffs with the right deal—but can London really bank on special treatment? And as BP shifts back to oil, is this a pragmatic market reset or the moment Big Energy turns its back on net zero? Marc Sidwell is joined by economist Cornelia Meyer and the IEA’s Daniel Freeman to unpack the deals reshaping global markets.

Britain is at a crossroads. As high costs, stagnation, and failing public services push talented young people abroad, a new wave of problem-solvers is choosing to stay and rebuild. Jack Hutchison from Civic Future dives into the forces driving this "fight or flight" moment—examining why Britain is losing skilled workers, who’s stepping up to fix it, and how a new generation of technologists, entrepreneurs, and policymakers is reshaping the country from within. Sharp, urgent, and essential listening—Despatch is your weekly briefing on Britain’s future, brought to you by The Capitalist. New episodes every Tuesday.