The Capitalist

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 hard to change direction later in life. His solution...

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 U.S. courts and allow American companies to sue fo...

What 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 faltering economic credibility, the radicalism of...

Can 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 migration and the war in Ukraine, Rifkind offers a...

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 tax reform, no supply-side agenda, and no appetit...

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 current course risks stifling productivity and shrin...

After 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 enterprise. He argues that only by shrinking the...

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 prosperity, the conversation explores whether any...

As 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 reinvest their fortunes in projects that governments...

How 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 the corporation’s credibility — and its future. I...

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 aspiration, stifle growth, and echo the policy mistakes...

Rachel 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 limited room to manoeuvre. Joining CapX deputy editor...

Should 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, James Price, Senior Fellow at the Adam Smith Insti...

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 shortfall, we ask whether the current system still deliver...

Welcome 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 lights are flashing. Economist Damian Pudner explai...

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 great communicators gone? With Thatcher’s centenary in...

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, we’re proud to still fly the Thatcherite flag. No...

Can 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 conversation then turns to calls for a one-off wealth raid...

Javier 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, Annunziata Rees-Mogg of Popular Conservatives, T...

“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 bruised party can regain credibility — and how fas...

Is 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 driven policies that risk turning the public against...

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 Sidwell is joined by City AM’s Alys Denby and Dr...

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 with power has no story to tell? Drawing on lesson...

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 beyond all the talk, what would such a move really...

What 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 bureaucratic drift, Steve argues that the real danger is...