The Why? Curve

This week we learnt that the government racked up its highest December budget deficit on record. In fact, there have only been a few months which were higher, and all during the throws of the COVID pandemic. So, does the government need to cut back on spending and give the country another dose of austerity? Or can it keep spending. Modern Monetary Theorists say a government with its own sovereign currency can keep spending so long as there are resources that can be put to productive use. Are they right? Frances Coppola is a financial writer, who knows from the inside the workings of banks and governments. She says she is a 90% advocate of MMT. So, is it the right answer for Britain right now?

Picket lines, placards and disruption - strikes have returned to British life and almost-forgotten trade unions are back in the headlines in a way they haven’t been since the 1970s. Membership is up - though still nothing like the levels when union leaders were regular visitors for beer and sandwiches in Number 10. But is the cost of living crisis empowering the unions again, to fight for those, especially in the public sector, who can barely afford the basics? Gregor Gall, Professor of Industrial Relations at Glasgow University and editor of the Scottish Left Review, tells Phil and Roger why organised labour is back on the scene of UK politics

Is the party over? After 13 years in power, are the Conservatives looking at more than just electoral failure sometime between now and 2025? Has something fundamental shifted in UK politics post-Brexit and post-COVID? Are the Tories looking at an existential crisis as their support base shrinks or dies off? Paul Whiteley, Emeritus Professor at Essex University’s Department of Government has been crunching 70 years of polling data and he shares it with Phil and Roger. It won’t be happy listening for Number 10