The Capitalist

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 President Macron’s government as strikes loom and tal...

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 debt and pension politics serve as a cautionary tal...

Argentina'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 Future. From soaring house prices to the looming p...

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 powerhouse and a figure of fascination for some To...

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 AM’s Alys Denby and economist Julian Jessop to unpa...

Britain’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 threats to US websites like 4chan, Gab, and KiwiFarms, d...

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 look at how to cut the fat and get Britain moving...

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 informed with CapX's unmissable daily briefings fro...

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 credibility? CapX editor Marc Sidwell is joined by economi...

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 warns of the impact on graduates, hospitality, and t...

Wikipedia’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 on the show: the tangled web of Britain’s tax code....

Is 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 party against both Labour and Reform, and proving the...

Virtual 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 position the UK as a global tech leader? Tom Ough, author...

Economic 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, correct, and control. With nods to James Burnham, James...

Are 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’s tariffs. Lilico calls it a political HUMILIATIO...

Michael 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, creating jobs, driving productivity, and helping build a...

As 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 for the millions quietly undersaving for retireme...

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 spectre of fiscal dominance—and explains why Britain...

With 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 renewal or Carter-era stagflation?  Back in Britain, Ke...

Karl 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 decision to give up power for love, this is a personal a...

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 Marc Sidwell to unpack the week’s economic headlin...

The 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 both the Treasury and No. 10, the question is no long...

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 Institute of Economic Affairs and Henry Hill of Conservat...

Marc 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, not magical solutions. Stay informed with CapX's...

Oil prices are on the rise following US strikes on Iranian nuclear sites — with fears mounting over how Tehran might retaliate. Marc Sidwell is joined by Daniel Freeman of the Institute of Economic Affairs to assess the economic fallout. Plus: the government makes lower energy costs the centrepiece of its new industrial strategy, but will it be enough to spark real growth? And with inflation easin...