The Capitalist is the podcast that champions free markets, fresh ideas, and thoughtful solutions. Join sharp minds from business, politics, and beyond for intelligent debate and optimistic conversations about building a brighter, market-driven future for Britain. Brought to you by the team behind CapX's unmissable daily briefings from the heart of Westminster. Hosted on Acast. See acast.com/privacy for more information.
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CapX Podcasts
Is Britain entering an age of permanent political fragmentation? As Labour falters despite its landslide victory, Reform UK surges, the Greens flirt with wealth taxes, and the Conservatives search for renewed purpose under Kemi Badenoch, the old certainties of British politics are unravelling. Across the Atlantic, Donald Trump’s second term has pro…
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With nearly a million under-24s out of work, education or training, good intentions are no longer enough. In this essay, John Penrose, Chair of the Conservative Policy Forum, argues that Britain’s education and careers system is quietly wasting talent — steering young people into the wrong courses, offering patchy guidance, and making it far too ha…
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What happens when foreign governments try to police American speech? For years, UK and EU regulators have slapped massive fines on U.S. tech firms — but Washington may finally be ready to hit back. Free speech lawyer Preston Byrne joins The Capitalist to unveil the GRANITE Act, a bold new proposal that would strip foreign regulators of immunity in …
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101
Despatch: All parties should be subjected to the OBR
8:12
8:12
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8:12What if every political party had to face real economic scrutiny? As Britain’s political landscape fragments and fiscal debate grows ever more chaotic, Joseph Dinnage, deputy editor of CapX, asks a provocative question: should the Office for Budget Responsibility judge all parties, not just the one in power? In this essay, he charts Rachel Reeves’s…
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151
Sir Malcolm Rifkind on the future of the Conservatives
28:56
28:56
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28:56Can Britain’s oldest political party reinvent itself for a new age? Former Foreign Secretary Sir Malcolm Rifkind joins Marc Sidwell to discuss the future of the Conservative Party, the legacy of Margaret Thatcher, and the dangers of Britain’s political drift. From the crisis over the European Convention on Human Rights to the challenge of illegal m…
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Faced with weak growth, mounting debt and global instability, Britain needed a bold, pro-enterprise Budget. Instead, says James Price, Senior Fellow at the Adam Smith Institute, Rachel Reeves delivered one designed for party management rather than national renewal. In this essay, Price argues that Labour has no credible growth strategy — no serious…
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Are higher taxes really inevitable — or just a political choice? Former Chancellor Jeremy Hunt joins Marc Sidwell on The Capitalist to share a rare insider’s view of what it’s like to build a Budget under pressure. From last-minute policy decisions to the fine balance between fiscal responsibility and economic growth, Hunt explains why Britain’s cu…
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201
Despatch: Can Britain escape its economic doom loop?
11:11
11:11
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11:11After years of stagnation, high taxes and spiralling public spending, Britain risks locking itself into permanent decline. As Rachel Reeves prepares her second Budget, Ewen Stewart, City economist and member of the Growth Commission, sets out a bold plan to reverse course — cutting £105 billion in spending, simplifying taxes, and unleashing private…
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Next week, former Chancellor Jeremy Hunt will join Marc Sidwell for a special interview as Rachel Reeves delivers her much-anticipated Budget. Ahead of that, Henry Hill, deputy editor of Conservative Home, assesses the political allure—and economic illusion—of a wealth tax. From the risks of capital flight to the moral tension between fairness and …
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251
Despatch: Could trillionaires actually save the world?
5:44
5:44
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5:44As Elon Musk edges toward an eye-watering new milestone, the idea of a trillionaire sparks more fear than fascination on the left. But what if extreme wealth could accelerate progress rather than hoard it? In this essay, James Price, Senior Fellow at the Adam Smith Institute, argues that visionaries like Musk and other billionaire entrepreneurs rei…
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301
Can the BBC survive its biggest crisis yet?
29:29
29:29
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29:29How does Britain’s most famous broadcaster recover from a crisis that’s reached the very top? In the space of a week, the BBC has lost two of its most senior executives and now faces an extraordinary legal threat from the President of the United States. What began as an editing error in a Panorama documentary has spiralled into a full-blown test of…
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Is Britain heading for another 1976 moment? With a £30 billion fiscal hole and few promises left unbroken, Rachel Reeves looks set to raise income tax — a move that could mark a grim turning point for Britain’s economy. In this essay, Reem Ibrahim, Head of Media at the Institute of Economic Affairs, warns that higher taxes on work will punish aspir…
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351
Special: Decoding the Chancellor’s pre-Budget signals
18:28
18:28
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18:28Rachel Reeves' speech on Tuesday gave every indication that tax rises are on the way — though she was careful not to name names. The challenge is clear: raising serious revenue usually means turning to the big three — income tax, National Insurance, or VAT. But Labour’s manifesto ruled those out, leaving the Chancellor with a fiscal puzzle and limi…
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351
Despatch: Why the Right should back the Oxford Cambridge Arc
6:06
6:06
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6:06Should the Right back Britain’s most ambitious science corridor? The Oxford–Cambridge Arc has long been dismissed as another government slogan in search of substance. Yet beneath the jargon lies a bold vision: a world-class corridor linking Britain’s greatest minds, laboratories, and industries—from quantum computing to Formula One. In this essay, …
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Labour’s New Towns Taskforce promised a bold vision for housing. But with only three modest sites selected, is this really the step-change the country needs — or just more planning fatigue? Plus: with welfare spending rising and tax burdens at record highs, is it time for serious reform? As the Treasury looks for ways to plug a £22 billion shortfal…
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401
Despatch: Labour is scaring the wealth away
8:25
8:25
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8:25Welcome to the new Despatch — your Monday briefing for a sharper, more optimistic week. London’s super-prime property market has long been the world’s barometer of confidence. When Britain welcomes success, investment flows freely; when it punishes ambition, the money quietly leaves. Now, even before the Chancellor unveils his Budget, the warning l…
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As Labour prepares its first Budget, can the party really blame Brexit for Britain’s sluggish productivity – and will voters be convinced? We also ask why Britain still isn’t building enough homes, and whether a new environmental levy risks making the crisis worse. Plus: in an age of short-form video and fractured attention, where have all the grea…
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Fifty years since Margaret Thatcher became leader of the Conservative Party, her face, and even some of her iconic outfits, were all over this year’s party conference. Not everyone was happy about that. Hot takes and tweets grumbled about it being time to move on, to pack away the old clothes and put out something a bit more 2025. At CapX, however,…
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451
Ofcom faces legal action over online safety
27:41
27:41
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27:41Can a British regulator really fine an overseas website under the banner of the Online Safety Act? In today’s edition of The Capitalist, host Marc Sidwell is joined by free speech lawyer Preston Byrne and journalist Harry Phibbs to discuss Ofcom’s £20,000 penalty against 4chan — and what it means for free expression in the digital age. The conversa…
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501
Special: Does Britain need a chainsaw revolution?
1:00:38
1:00:38
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1:00:38Javier Milei’s Argentina has drawn the admiration of many British conservatives. But what would a “British Milei” really look like — and would the civil service, Parliament, or the public ever let one govern? That question animated a lively CapX panel at the Conservative Party Conference in Manchester, chaired by Joseph Dinnage, with Jack Rankin MP…
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501
Special: Live at the Conservative Party Conference
55:40
55:40
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55:40“The Tory Party isn’t dead... yet.” Live from the Conservative Party Conference 2025 in Manchester, The Capitalist tests that claim with a frank post-mortem and a blueprint for revival. Host Marc Sidwell grills Tom Harwood (Deputy Political Editor, GB News) and Lord Graham Brady (former MP and long-time chair of the 1922 Committee) on whether this …
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551
Despatch: Is Ed Miliband a threat to climate action?
6:26
6:26
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6:26Is Ed Miliband the greatest threat to climate action in Britain today? In this edition of Despatch, Sam Hall — Director of the Conservative Environment Network — delivers a clear critique of Labour’s energy agenda. While the left rails against climate sceptics like Nigel Farage, Hall argues it’s actually Ed Miliband’s heavy-handed, ideologically dr…
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Labour is playing a dangerous game on immigration – edging closer to Reform’s hardline rhetoric but risking alienation from their own base, while never going far enough to satisfy Reform’s supporters. Against this backdrop, Rachel Reeves prepares the ground for potential tax rises. Can Labour raise revenue without choking off long-term growth? Marc…
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With party conference season underway and Andy Burnham circling with a bolder agenda, former special adviser Callum Price asks the hard questions: Why is Labour so wary of defining its purpose? Why does Starmer still seem like a fox pretending to be a hedgehog — chasing contradictory goals without a guiding principle? And what happens when a party …
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Nigel Farage and Sir Ed Davey may sit on opposite ends of the political spectrum, yet both share a flair for spectacle — deft at seizing headlines, even when the substance is thinner than the show. Reform UK’s proposal to scrap the route to permanent residency for migrants marks a striking departure from the policies of Britain’s main parties. But …
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601
Despatch: Steve Baker thinks a crash is coming
8:40
8:40
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8:40What if the real revolution isn’t coming from the Left — but from the forgotten champions of free markets and personal freedom? In this special edition of Despatch, former Conservative MP Steve Baker lays out a bold and urgent case for a political reawakening. With the UK economy stumbling under the weight of high taxes, ballooning debt, and bureau…
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Is the centre-right cracking? From Westminster defections to French fiscal chaos, this week has delivered a sharp shock to Europe’s conservative mainstream. In London, Tory MP Danny Kruger crossed the floor to join Reform UK, denouncing his former party as “over.” In Paris, a fresh downgrade to France’s credit rating has cast a long shadow over Pre…
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Is Britain sleepwalking into a very French crisis? In this Despatch, Joseph Dinnage argues that Westminster is starting to look uncomfortably like Paris: a revolving door at the top, a debt “swamp” that spooks markets, and electorates hooked on ever-costlier entitlements. After François Bayrou’s fall and Sébastien Lecornu’s rise, France’s soaring d…
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701
Special: Steve Baker on Britain's Milei moment
38:30
38:30
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38:30Argentina's Javier Milei has defied critics by bringing sweeping economic reform to an economy many had written off. Former MP Steve Baker — the “hard man of Brexit” — says a similarly radical free-market reform can save Britain, too. In this special edition of The Capitalist, Steve joins Marc Sidwell to launch his new project, Fighting for a Free …
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This week on Despatch, we ask whether Labour’s deputy leader is about to fall victim to her own class war. Once the scourge of Conservative ministers accused of impropriety, Rayner now faces her own reckoning over unpaid stamp duty. Yet her life story – from single mother at 16 to the country’s second-in-command – makes her both Labour’s populist p…
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Britain’s migration debate has reached boiling point. With migrant hotels sparking legal battles, border policies under fire, and trust in government eroding, the question is no longer just about numbers – it’s about whether Britain can regain control of its borders and its future. In this edition of The Capitalist, Marc Sidwell is joined by City A…
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751
Despatch: The Online Safety Act is humiliating Britain
6:35
6:35
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6:35Britain’s new Online Safety Act was meant to protect children — but it’s becoming an international embarrassment. Not only is it pushing young people towards darker corners of the web, it’s also turning the UK into a would-be global censor. This week on Despatch, legal scholar Andrew Tettenborn reveals how Ofcom is sending heavy-handed legal threat…
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Britain’s tax system is overly complex and destroys our growth prospects. Should Labour follow Australia’s lead and convene a roundtable of business leaders and experts to really overhaul the system? CapX’s deputy editor Joseph Dinnage is joined by Dr Lawrence Newport from Looking for Growth and the political strategist John Oxley for a clear-eyed …
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Sir Keir Starmer is reportedly becoming more and more frustrated at the sluggish reality of government within the current system. Who can blame him? Government is beset by a sclerotic Civil Service and continuous legal battles. But, as Looking for Growth's Lawrence Newport explains, a renewed sense of urgency might be just what Labour needs. Stay i…
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Donald Trump’s encounter with Vladimir Putin has raised fresh doubts over the prospects for peace in Ukraine. Meanwhile, Argentina’s dramatic economic turnaround offers lessons that Britain’s Conservatives may find hard to ignore. And with whispers of sweeping reform to the UK’s property taxes, what might this mean for growth and political credibil…
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Labour’s economic policies are hitting Britain’s job market hard — from higher National Insurance and rising minimum wages to new employment regulations that make hiring riskier and more expensive. Joseph Dinnage, deputy editor of CapX, examines the latest data on job losses, recruitment slumps, and the growing costs facing small businesses, and wa…
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851
Online Safety Row: Wikipedia Vs. the Government
21:00
21:00
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21:00Wikipedia’s bruising encounter with the UK’s Online Safety Act has exposed why rules aimed at Big Tech are already having unintended consequences. Now, Silicon Valley heavyweight Marc Andreessen is taking his objections straight to Downing Street, joining a global chorus of free-speech advocates warning the law is muzzling expression online. Also o…
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851
Despatch: The Conservative comeback begins
5:05
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5:05Is the Conservative comeback already underway? In this week’s Despatch, James Cowling from Next Gen Tories argues the vibe shift is real — and it’s arriving faster than expected. With Labour stumbling and Reform flailing, the opportunity is ripe for a bold, pro-growth Tory revival. Cowling outlines the two major pivots required: redefining the part…
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851
Will the UK be sued over the Online Safety Act?
29:33
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29:33Virtual private networks are often associated with dodging censorship in far-flung authoritarian states. But now, VPN downloads are surging in Britain — a response to new age-verification rules designed to make the internet safer. Are the measures simply too blunt to be effective? And could the public backlash undermine Labour’s ambition to positio…
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901
Despatch: The Online Safety Act stands against Britain’s liberal tradition
6:59
6:59
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6:59Economic journalist Mani Basharzad reflects on Britain’s Online Safety Act — and what it reveals about the rise of managerialism in public life. What begins as a discussion of misinformation soon unfolds into something broader: a quiet shift away from the liberal tradition of debate and dissent, toward a more technocratic instinct to manage, correc…
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901
EU's tariff 'humiliation' & doctors' dodgy pay metrics
27:07
27:07
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27:07Are Britain’s doctors striking based on a broken metric? Economist Andrew Lilico says RPI—the measure unions love—is complete NONSENSE compared to CPI. Policy analyst Francois Valentin agrees, claiming you’d be hard-pressed to find ANY profession with real wage growth since 2008 using that number. Then we turn to the EU’s silent acceptance of Trump…
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901
Despatch: Private equity didn’t ruin Britain – it’s helping rebuild it
6:42
6:42
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6:42Michael Moore, chief executive of the British Private Equity and Venture Capital Association, takes aim at the lazy caricatures and media misfires that still dominate public perceptions of private equity. Far from asset-stripping villains, today’s private capital investors are quietly powering British enterprise — backing thousands of SMEs, creatin…
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951
The return of James Cleverly, broke retirees, and bans on air conditioning
23:25
23:25
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23:25As Sir James Cleverly returns to the front bench, Marc Sidwell is joined by City AM’s Alys Denby and writer and academic Andrew Tettenborn to assess what the move signals for the opposition—and whether it can sharpen its message ahead of the next election. Also on the agenda: why the government is reviving the pensions commission, and what it means…
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Independent economist Damian Pudner offers a crisp, clear-eyed warning from the heart of Britain’s fiscal landscape. As Chancellor Rachel Reeves sets out her vision for a re-energised economy, the real question remains: how will we pay for the modern British state? Pudner traces the quiet stirrings of market unease—from rising gilt yields to the sp…
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1001
Is America breaking the world’s economy?
34:43
34:43
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34:43With Donald Trump threatening sweeping new tariffs on the EU, the European Commission warns that transatlantic trade could become “almost impossible” — a shock that would rattle supply chains and plunge business leaders into uncertainty. As economic forecasters grapple with volatility in Washington, we ask: is America heading for Reagan-style renew…
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1001
Despatch: The greatest prime minister we never had
7:51
7:51
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7:51Karl Williams reflects on the life and legacy of Norman Tebbit — the Conservative bruiser, RAF veteran, and Thatcherite stalwart who helped reshape Britain in the 1980s. Often caricatured as the hardman of the Tory right, Tebbit was also a principled, articulate statesman with a surprising hinterland. From his famed “on yer bike” quip to his decisi…
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A new poll finds voters see Sir Keir Starmer’s government as every bit as chaotic as the last. Can Labour regain its footing? Meanwhile, Jeremy Corbyn eyes a comeback—does his latest venture hint at a socialist revival? And as the NHS unveils a new ten-year plan, we ask: why does it all sound so familiar? Albie Amankona and Julian Jessop join host …
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1051
Despatch: The Chancellor won't survive this
8:13
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8:13The markets have made their judgment—and it’s far from flattering. As gilt yields climb and confidence wanes, Chancellor Rachel Reeves is facing a fiscal storm of her own making. Economist Damian Pudner weighs in on Labour’s deepening credibility crisis, arguing that the era of cost-free politics is drawing to a close. With pressure mounting on bot…
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Does Zohran Mamdani’s shock rise in New York politics suggest that wealth taxes are back on the agenda? Plus: what does Labour’s welfare cuts u-turn say about the government’s economic credibility? And why economic arguments keep falling flat with voters—and how we can change the conversation. Marc Sidwell is joined by Reem Ibrahim from the Institu…
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1101
Despatch: How to sell difficult economic truths
6:51
6:51
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6:51Marc Sidwell dissects the Reform's shaky new tax proposal, the backlash against expert critique, and what it all says about the state of political debate. From Britain’s fragile finances to America’s protectionist turn, CapX's editor makes the case for returning to a more grounded, common-sense approach to economics — one that recognises trade-offs…
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