This is Spectator Radio and you're listening to The Spectator podcast with Lara Prendergast.

This podcast is sponsored by Merrian Global Investors, bringing together the art and science of investing.

Hello and welcome back to The Spectators podcast. I'm Lara Prendergast. So why is money draining

from Britain? In this week's issue, Ross Clark says it's because of Corbin, not Brexit. We also look at

Italy, where growth is a distant memory, the economy is stagnating and youth unemployment is at 35%.

The Italian government and the EU are at loggerheads

about how to solve this, so is Italy the next Eurosceptic time bomb? And finally, we look at what

it's like to write a biography for somebody who can't stand you. In the last two years, investors

have pulled more than $20 billion from British equity funds.

In this week's cover story, Ross Clark argues that perhaps surprisingly, this is more because

of fear of a Corbyn government than because of Brexit. So, is that a fair claim? I'm joined by

Liam Halligan, economics columnist for the Sunday Telegraph, and Grace Blakely,

research fellow at the IPPR.

So, Liam, do you think Ross is right to say that money is draining from Britain because of Corbyn rather than Brexit?

I think he's certainly right that there's been an outflow of cash under some headings.

I mean, part of that is just because the dollar is acting like a huge vortex

at the moment, sucking in cash from all over the world. That's because the Federal Reserve,

America's mighty central bank is, of course, raising rates. It's raised rates over half a dozen

times in the last couple of years. And the the dollars going up and that's drawing money in

from everywhere the UK included. On the other hand, Lara, we've just had numbers out, almost

unreported in the financial press surprise surprise, showing that Britain was second only in the

world to China in the first half of 2018 at attracting FDI. That's big money, foreign direct

...