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Hello and welcome to the edition podcast from The Spectator.

Each week we look at three pieces from the magazine with the writers behind them.

I'm William Moore, the Spectator's Features Editor.

On this week's episode, are the markets the driving force in British politics?

What can we expect from America's midterms next month? And should

the Elgin Marbles be returned to Greece? First up, for his cover piece, James Forsyth writes that the

trust agenda is dead and in its place the markets now control British politics. He joins me now

with Samir Keens, Britain economics editor at The Economist.

James, to start with, could you explain for our listeners what you mean when you say that the markets

hold this political power in the UK? So the markets have killed off quasi-quoting. They have killed

off the mini-budget. They have killed off Liz Tr budget. They have killed off Liz Trust. And the government

is now in a desperate attempt to appease the markets. I think what you are seeing now is that the

market is dictating what can happen in British politics. And that is going to shape British politics

for the rest of this decade. What the mini budget has blown up is the idea that you can have permanent unfunded tax cuts.

The challenge for labour, I think, at the next election is that it'll be much harder to say,

but you can comfortably borrow more to fund permanent day-to-day spending commitments.

So we are now in, I think, a new era of fiscal conservatism

where policies that the markets approve of are going to be the coin of the realm.

So, Mayor, what do you think of James' assessment? Do you think the market will shape British

...