In this episode of Negotiating Government, John Hall (Negotient Associate and former Treasury official) and David Gauke (Negotient Chair and former Chief Secretary to the Treasury) unpack the November 2025 UK Budget, offering a candid, insider’s perspective on what it really means for private sector leaders negotiating with government.

The conversation explores why, despite a flurry of announcements impacting the private sector, the Budget felt underwhelming for business and lacked a clear growth agenda. David and John discuss the regulatory reforms announced by the Fingleton Review, and their potential significance for other sectors. They also examine sector-specific pressures, from NHS pharmaceuticals to the new Local Growth Fund, and whether “temporary” taxes, such as the Energy Profits Levy can ever really be temporary.