The Tory Tax Problem May Be Britain’s, Too
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 26 January 2023
⏱️ 29 minutes
🧾️ Download transcript
Summary
This week's episode is about UK tax. But trust us, it's interesting.
Reporter Alex Wickham joins to assess the damage being done to the Tory party’s popularity as a result of Nadhim Zahawi's tax row. And David Merritt speaks with Arun Advani, an associate professor in economics at the University of Warwick and a Research Fellow at the Institute for Fiscal Studies. He says people should be focusing less on why Zahawi paid the wrong amount of tax, and more how small the amount was when compared with the earnings he generated. Advani discusses the UK’s current tax structure and where there’s room for improvement.
See omnystudio.com/listener for privacy information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | You can get the news whenever you want it with Bloomberg News Now. I'm Amy Morris. And I'm Karen |
| 0:06.3 | Moscow here to tell you about our new on-demand news report delivered right to your podcast feed. |
| 0:12.4 | Bloomberg News Now is a short five-minute audio report on the day's top stories. Episodes are |
| 0:17.9 | published throughout the day with the latest information and data to keep you informed. |
| 0:22.4 | Yes, there are other products like this from a variety of news organizations, but they usually |
| 0:27.9 | rerun their radio newscasts throughout the day. That's not what we do. We create customized |
| 0:33.8 | episodes that can only be heard on Bloomberg News Now. |
| 0:39.6 | And we don't wait an hour to publish breaking news. |
| 0:43.5 | When news breaks, we'll have an episode up in your podcast feed within minutes. So you're always getting the latest stories and developments. |
| 0:46.9 | Get the reporting and the context from Bloomberg's 3,000 journalists and analysts |
| 0:51.4 | we're all over the world. |
| 0:53.0 | Listen to the latest from Bloomberg News |
| 0:54.9 | now on Apple, Spotify or anywhere you listen. There is an obligation on ministers to tell the truth. |
| 1:01.3 | And saying that your taxes are in order when you know they're not is not telling the truth. |
| 1:16.4 | There we have Dan Needle, who is the founder of tax policy associates, and he is the tax expert who made the former chancellor, and he deemed Zaharwe's tax issue public. |
| 1:21.8 | He joined Bloomberg earlier this week to wade in on the ongoing drama that's become |
| 1:27.2 | something of a scandal in fact surrounding |
| 1:28.7 | the Conservative Party chairman and whether he has been truthful about his tax affairs. |
| 1:35.4 | And listening to Dan talking, you could draw the conclusion that he doesn't think Zahari |
| 1:40.6 | is being entirely truthful. And of course, Rishishishunak's spokesman this week |
| 1:45.5 | has declined to vouch for the former Chancellor's honesty. But it's shown yet another light, hasn't it, |
| 1:52.0 | on the deep connections between the Tory Party and the city of London, but also the enormous |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Bloomberg, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Bloomberg and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.