Even the most innumerate among us has heard of the Laffer curve, a theory popularised by US economist and presidential advisor Arthur Laffer. It spells it out how, beyond a particular threshold, increasing taxes actually brings down revenue.

Camilla and Tim are joined by the legendary economist – who has worked with Presidents Trump and Reagan and was a friend of Margaret Thatcher – to discuss the upcoming Budget, Trump's tariffs, and whether Nigel Farage has a coherent economic plan.

Laffer also weighs in on Liz Truss, who he says was "thinking in the right direction" with her mini-Budget, and explains why a wealth tax would be a "huge mistake".

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Producer: Lilian Fawcett

Senior Producer: John Cadigan

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Executive Producer: Charlotte Seligman

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Editor: Camilla Tominey

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