The 2025 Budget was set up to be the most important since at least the Truss-Kwarteng mega-failure of 2022. It’s Labour’s first attempt to set a full, multi-year spanning agenda since 2007. In the build-up to it every possible financial lever has been floated as on the table: income tax rises, changes to national insurance and VAT, windfall taxes on banks or the gambling industry, to name a few.

What the Chancellor eventually decides to do will have serious ramifications for years to come. So it’s only right that our reactive episode of It’s Bloody Complicated treats this moment with the seriousness it deserves.

This episode was hosted by Clive Lewis, Labour Member of Parliament for Norwich South, as he gave his own insight into what the Budget means and how the PLP have reacted to it.

Joining Clive was Erin Mansell, Head of External Affairs at the Women’s Budget Group, and Michael Jacobs, Professor of Political Economy at the University of Sheffield.

Erin Mansell leads WBG’s influencing work getting their analysis and policy recommendations for a gender equal economy out to as large and diverse audiences as possible. Before joining WBG in October 2022, Erin was responsible for public affairs at Solace Women’s Aid, a specialist domestic abuse and sexual violence charity where she specialised in tackling housing and homelessness issues for survivors of male violence. Prior to that she was Political Advisor and Researcher at the Women’s Equality Party, supporting the Party Leader, developing policies, and campaigning for universal free childcare and an end to violence against women and girls.

Michael Jacobs is Professor of Political Economy at the University of Sheffield. He is a former General Secretary of the Fabian Society (1997-2003) and member of the Council of Economic Advisers at the Treasury (2004-07). He was Special Adviser to Gordon Brown at 10 Downing St from 2007-10. His books include The Green Economy: Environment, Sustainable Development and the Politics of the Future (1991), Paying for Progress: A New Politics of Tax for Public Spending (2000) and Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth (ed, with Mariana Mazzucato. 2016).

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