In this Institute of Economic Affairs podcast, Director of Communications Callum Price is joined by Managing Editor Daniel Freeman and Economics Fellow Julian Jessop to discuss Trump’s recent criticism of Europe, the renewed customs union debate in Parliament, and Kemi Badenoch’s welfare speech. The conversation examines Trump’s characterization of Europe as “a decaying group of nations with weak leaders” and his criticism of European energy policy and defense spending, questioning whether European politicians are still acting as if growth happens automatically while relying on the US for security.

The discussion then shifts to the tied parliamentary vote on rejoining the customs union. Julian explains why the economic benefits would be limited given the UK’s existing trade agreement with the EU, while the costs include losing independence on trade policy and disrupting new deals with countries like the US and India. The panel analyzes polling showing support for rejoining the EU, arguing it reflects general economic dissatisfaction rather than genuine support once people understand what EU membership actually entails.

The podcast concludes with Kemi Badenoch’s welfare reform speech and her “Benefits Street” framing of Labour’s budget. Julian and Daniel welcome her challenge to relative poverty measures and her emphasis on getting people into work rather than simply redistributing income, though they note the glaring omission of any discussion about pension spending, which represents the largest and fastest-growing component of the welfare budget.

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