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Rock & Roll Politics with Steve Richards

Is Rachel Reeves trapped by her fiscal rules?

Rock & Roll Politics with Steve Richards

Podmasters

Society & Culture, News, Politics

4.6825 Ratings

🗓️ 25 March 2025

⏱️ 58 minutes

🧾️ Download transcript

Summary

This week Rachel Reeves announces more spending cuts in order to meet her fiscal rules, and the OBR’s verdict on her ‘fiscal headroom’. But what was the original purpose of ‘the fiscal rules’ and has Reeves learned the lessons from past Labour chancellors? Some context in a week that could doom a landslide government to being trapped rather than liberated by a chancellor’s ‘ironclad’ rules. Rock & Roll Politics is live at the main concert hall in Kings Place on May 8th. Tickets here. Subscribe to Patreon for live events, bonus podcasts and to get the regular podcast a day early and ad free.  Written and presented by Steve Richards. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

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0:03.5

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0:24.2

Head to vanta.com slash Spotify to learn more. Hello and welcome to rock and roll politics, the podcast with me, Steve Richards.

0:48.9

Thank you for tuning in.

0:50.9

And you can guess what I will be reflecting on today if it's okay with all of you,

0:56.1

but contextualizing it. The statement being made by Rachel Reeves on Wednesday,

1:01.8

some of you will have heard the statement and its immediate repercussions. By the time you

1:07.6

listen to this, many of you will be in my position of reflecting on it in advance.

1:13.1

But it doesn't matter with what I'm doing because I'm going to be looking at the fiscal rule and the context of the fiscal rule.

1:23.6

And the degree to which other Labour chancellors have dealt with some of the challenges that Rachel Reeves faces now in different contexts,

1:33.2

the mistakes they made and the mistakes that I fear she is making in her approach to the whole issue of conveying or trying to convey reassuring stability.

1:48.2

So, yeah, that's to come.

1:51.0

Before then, just a reminder that our next date for Patreon subscribers is early next month.

1:58.6

Again, sorry, in my notes for this, I haven't got the bloody day, but you will know it on Patreon.

2:03.8

A live event where we will gather to make sense of things.

2:09.4

God, and where will we start?

2:11.5

So if you subscribe, you get live events, you get the podcast early and ad-free, and you help keep the show on the road

2:18.8

with the great podmasters. So, yeah, please do join us at Patreon. And Kings Place, rock and roll

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