As Sir James Cleverly returns to the front bench, Marc Sidwell is joined by City AM’s Alys Denby and writer and academic Andrew Tettenborn to assess what the move signals for the opposition—and whether it can sharpen its message ahead of the next election.

Also on the agenda: why the government is reviving the pensions commission, and what it means for the millions quietly undersaving for retirement. And why did green groups turn on the Planning and Infrastructure Bill? 

Plus: as the mercury rises, we ask whether Britain’s aversion to air conditioning is a principled stand—or simply a failure of political imagination. From the machinery of Westminster to the cool comforts of modern living, tune in for a clear-eyed look at how policy impacts the real world.

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Independent economist Damian Pudner offers a crisp, clear-eyed warning from the heart of Britain’s fiscal landscape. As Chancellor Rachel Reeves sets out her vision for a re-energised economy, the real question remains: how will we pay for the modern British state?

Pudner traces the quiet stirrings of market unease—from rising gilt yields to the spectre of fiscal dominance—and explains why Britain’s debt trajectory is sounding alarms. With the tax burden at a 70-year high and productivity stagnating, he makes a practical case for sharper, leaner government over ever-higher spending.

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With Donald Trump threatening sweeping new tariffs on the EU, the European Commission warns that transatlantic trade could become “almost impossible” — a shock that would rattle supply chains and plunge business leaders into uncertainty. As economic forecasters grapple with volatility in Washington, we ask: is America heading for Reagan-style renewal or Carter-era stagflation? 

Back in Britain, Kemi Badenoch has sounded the alarm over spiralling welfare costs, warning that the UK is turning into a “welfare state with an economy attached.” Can the system be reformed to encourage work and protect the public finances? 

CapX editor Marc Sidwell is joined by Dominic Pino of the National Review Institute and CapX contributor Harry Phibbs for a deep dive into the mounting risks facing the global economy.

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Karl Williams reflects on the life and legacy of Norman Tebbit — the Conservative bruiser, RAF veteran, and Thatcherite stalwart who helped reshape Britain in the 1980s. Often caricatured as the hardman of the Tory right, Tebbit was also a principled, articulate statesman with a surprising hinterland. From his famed “on yer bike” quip to his decision to give up power for love, this is a personal and political tribute to one of the greatest prime ministers Britain never had.

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A new poll finds voters see Sir Keir Starmer’s government as every bit as chaotic as the last. Can Labour regain its footing? Meanwhile, Jeremy Corbyn eyes a comeback—does his latest venture hint at a socialist revival? And as the NHS unveils a new ten-year plan, we ask: why does it all sound so familiar? Albie Amankona and Julian Jessop join host Marc Sidwell to unpack the week’s economic headlines.

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The markets have made their judgment—and it’s far from flattering. As gilt yields climb and confidence wanes, Chancellor Rachel Reeves is facing a fiscal storm of her own making. Economist Damian Pudner weighs in on Labour’s deepening credibility crisis, arguing that the era of cost-free politics is drawing to a close. With pressure mounting on both the Treasury and No. 10, the question is no longer whether taxes will rise, but how swiftly and by how much. The Chancellor is running out of road, the Prime Minister is newly vulnerable—and the world is watching.

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Does Zohran Mamdani’s shock rise in New York politics suggest that wealth taxes are back on the agenda? Plus: what does Labour’s welfare cuts u-turn say about the government’s economic credibility? And why economic arguments keep falling flat with voters—and how we can change the conversation. Marc Sidwell is joined by Reem Ibrahim from the Institute of Economic Affairs and Henry Hill of Conservative Home for a fast-paced look at the shifting political landscape.

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Marc Sidwell dissects the Reform's shaky new tax proposal, the backlash against expert critique, and what it all says about the state of political debate. From Britain’s fragile finances to America’s protectionist turn, CapX's editor makes the case for returning to a more grounded, common-sense approach to economics — one that recognises trade-offs, not magical solutions.

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Oil prices are on the rise following US strikes on Iranian nuclear sites — with fears mounting over how Tehran might retaliate. Marc Sidwell is joined by Daniel Freeman of the Institute of Economic Affairs to assess the economic fallout. Plus: the government makes lower energy costs the centrepiece of its new industrial strategy, but will it be enough to spark real growth? And with inflation easing and confidence wavering, is it finally time to cut interest rates?

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Coventry’s sleek new very-light-rail system is now in test mode, with 2,000 residents invited aboard. In this special Despatch, policy thinker Samuel Hughes explores how the project could offer a smarter, faster — and much cheaper — way to deliver public transport in Britain. Could this be the blueprint for the future of urban mobility?

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