This episode is all about the Budget. What was in it? What are the implications? Was there anything positive to glean from it? 

Stepping in for Philippa Lamb on this episode, Guy Ruddle speaks to the usual economic dream team of Santander Chief Economist Frances Haque, David Williamson, who joins us from Portcullis House, and Iain Wright, ICAEW’s Chief Policy and Communications Officer. 

They share their views on the early publication of the OBR’s projections, the constant leaking ahead of the Budget, the economic implications of the measures included within it, and who it was actually for. 

Time codes

01’53”: The OBR’s leaked report

05’48”: The content of the Budget and its implications

10’07”: The lack of growth measures

Links

• ICAEW: Budget 25: Do the tax changes meet the tenets? - https://www.icaew.com/insights/podcast/the-tax-track/budget-25-do-the-tax-changes-meet-the-tenets

Host

• Guy Ruddle

Guests

• Frances Haque, Chief Economist, Santander
• David Williamson, Chief Political Commentator, The Express
• Iain Wright, Chief Policy and Communications Officer, ICAEW

Producer

• Natalie Chisholm 

Episode first published: 1 December 2025

Podcast recorded: 27 November 2025