A Long Time In Finance

How on earth did the UK end up having to fling £150bn at the energy market just to keep the lights on? Is it just because of Vladimir Putin, or does it also involve poor decisions taken far nearer to home? Neil and Jonathan talk to energy expert Nick Butler about the history of what happened, what went wrong, and how we might put it right.  Presented by Jonathan Ford and Neil Collins. Wi...

In the final episode on Britain's 1992 currency crisis, Neil and Jonathan look at the consequences of Black Wednesday with Jonathan Portes, Sir Paul Tucker, both of whom had ringside seats in the Treasury and Bank of England respectively, and economic historian Duncan Weldon. Presented by Jonathan Ford and Neil Collins. With Duncan Weldon and Jonathan Portes. Produced and edited by Nick Hilto...

In the second of our three-part series on Black Wednesday, the sterling crisis that drove Britain out of Europe's Exchange Rate Mechanism in the autumn of 1992, Neil and Jonathan look back on the events of the day itself with Sir Paul Tucker, who watched the mounting chaos from the Bank of England. Presented by Jonathan Ford and Neil Collins. With Sir Paul Tucker. Produced and edited by Nick for P...

On 16 September 1992, after an "extremely difficult and turbulent day", sterling was driven out of the Exchange Rate Mechanism, shattering the central economic policy of John Major's government and arguably setting Britain on a path to the fringes of, and ultimately the exit from, the European Union. In the first of a three-part series, Neil and Jonathan look back on the run up to the crisis with...

It's arguably the most important number in world history, and one that drives almost all our main economic decisions. But how is the interest rate set, and (more importantly) have we been setting it wrong in recent years, to the detriment of our economies? We discuss interest rates from Babylon to QE with economic historian and author Edward Chancellor. Presented by Jonathan Ford and Neil Col...

The private equity industry has grown massively in recent years, but is it a bubble or a genuine money-making machine? We talk to Sachin Khajuria, a former partner of Apollo and author, who believes the buyout chiefs really can turn pension funds' base metal into gold. Presented by Jonathan Ford and Neil Collins, With Sachin Khajuria. Produced and edited by Nick Hilton for Podot. In asso...

It's the key divide in UK economic policy, according to economist Sam Bowman: You are either a growth-hungry Booster who thinks we can revive the economy, or a pessimistic Doomster who believes struggling Britain is condemned to persistent low growth. We talk to Sam about why the Doomsters dominate the discussion, and how Boosters can bounce back. Presented by Jonathan Ford and Neil Collins. With...

The Tory leadership contest has been badged as a "battle of economic ideas" between "prudent" Rishi Sunak and "go for growth" Liz Truss. But what exactly are these ideas, where do they come from, and how relevant are they to Britain's current situation? Neil and Jonathan talk to economic historian Duncan Weldon about the contenders' plans to put Britain back on track. Presented by Jonath...

Most people think it's all over. But with new variants raging, are we too sanguine about dismissing the risks from Covid. Neil and Jonathan talk to Deborah Birx, who ran the Coronavirus Taskforce in Donald Trump's White House, about dealing with "the Donald", where we are with the virus, and how we can avoid contracting a nasty case of economic long Covid.  Presented by Jonathan Ford and Neil...

Things are going from bad to worse for the privatised water industry, argues Feargal Sharkey. The rivers are running with sewage, and now there are warnings the whole South East could run out of water. We discuss possible fixes with the ex-Undertone, fisherman and water campaigner, from nationalisation to using "grey" water to flush your bog. Presented by Jonathan Ford and Neil Coll...

Wirecard was the rare German startup that seemed primed to become a global player. But it was all too good to be true, as Dan McCrum, financial sleuth at the FT, ultimately discovered. We talk to him about how he unmasked the scam, overcoming spies, mobsters and even the German financial regulator to get at the truth. And also about favourite scams and why fraud is so damned difficult to stamp out...

Don't know your standard monetary policy from the unconventional kind? Relax! We ask economist and former Bank of England adviser Tony Yates all those questions about QE (and its seldom-seen friend QT) that you always wanted the answer to but never dared put. Presented by Jonathan Ford and Neil Collins. With Tony Yates. Produced and edited by Nick Hilton for Podot. Hosted on Acast. See acast.com/p...

A victory for public interest journalism, or a travesty of the law? We pick through the surprise judgment handed down in Brexit "bad boy" Aaron Banks's libel case against investigative journalist Carole Cadwalladr in the company of top media lawyer, Mark Stephens.  Presented by Jonathan Ford and Neil Collins. With Mark Stephens. Produced and edited by Nick Hilton for Podot. Hosted on Acast. S...

Private equity firms have amassed vast fortunes for their owners by snapping up companies in a rising stock market using ultra cheap debt. But what happens when values go down and interest rates rise? We talk to US investor and private equity sceptic Dan Rasmussen about the coming buyout Götterdämmerung. (Dan has written recently on this and his note can be found here  https://verdadcap....

Prices are high; supply is insecure; basically it's a nightmare. But which levers do you pull to make things better, and which do you leave well alone? We talk to former Number 10 adviser and consultant Josh Buckland about how to fix the UK's energy woes. Presented by Jonathan Ford and Neil Collins. With Josh Buckland. Produced and edited by Nick Hilton for Podot. Sponsored by Briefcase. News Host...

It's now the world's most watched PowerPoint presentation: the pitch by HSBC's head of responsible investing to a conference on green finance in which he suggested the climate crisis was overstated and we should get on building more sea walls instead. We talk to Roger Pielke Jr, the US academic and political scientist about what Kirk was trying to say (or should have said) and his own experie...

Gripped by sluggish growth and low investment, the UK decides to solve its problems by embarking on a "dash for growth" - spending big and cutting taxes. We talk to economic historian Duncan Weldon about the Heath government's disastrous 1972 "Barber Boom" (named for the chancellor Tony Barber) and what lessons it holds for Boris Johnson's wayward administration. Presented by Jonathan Ford an...

Cryptocurrencies are collapsing across the etherspace. Neil and Jonathan talk to Izabella Kaminska, founder of the Blind Spot and keen cryptowatcher, about Terra, Luna and Tether, the death spiral of the stablecoins, and whether anyone in the real world should care.. Presented by Jonathan Ford and Neil Collins. With Izabella Kaminska. Produced and edited by Nick Hilton for Podot. Sponsored by Brie...

In the second of our two-part series looking at Gordon Brown's 1997 decision to give the Bank of England control of setting interest rates, we talk to our guest Paul Tucker, a former deputy governor of the Bank, about the financial crisis, Quantitative Easing and the future of central bank independence. Presented by Jonathan Ford and Neil Collins. With Sir Paul Tucker. Produced and edited by Nick...

On 6 May 1997, Gordon Brown raised interest rates as chancellor for the last time and then handed the keys to monetary policy to the Bank of England. In the first of a two part series, we reflect on that decision with Paul Tucker, a former deputy governor of the Bank, discussing how it was taken, the institutional upheavals and the fruits of independence. Presented by Jonathan Ford and Neil Collin...

Non-doms are back in the news following revelations about Rishi Sunak's wife, Akshata Murthy and health secretary Sajid Javid. We extract a definition of this archaic fiscal concept from top tax lawyer Dan Neidle, then discuss how it's lasted so long (around 220 years) and how to reform it. Lastly we all ponder how on earth Rochdale-born Javid came to be a non-dom in the first place. Pre...

China declared that its friendship with Russia had “no limits” just before Vladimir Putin plunged into Ukraine. Neil and Jonathan talk to China watcher and economist George Magnus about how the war has changed Beijing’s relations with the West, and what it all means for Taiwan, financial decoupling, and whether China is still an investable place to put your cash. Presented by Jonathan Ford and Nei...

We talk to Merryn Somerset Webb of Money Week and FT columnist about why the Russian crisis is also a crisis for ESG investment, Carl Icahn’s war with McDonalds, and how your investment choices could actually make the world a better place (without putting your loot in an ESG fund). Presented by Jonathan Ford and Neil Collins. With Merry Somerset Webb. Produced and edited by Nick Hilton for Po...

In the second part of our series about kleptocrats suppressing free speech in English courts, top lawyers Mark Stephens (http://twitter.com/markslarks) and David Hooper (http://twitter.com/thesooperhooper) discuss how both the law and legal practice needs to change to stop this chilling activity. Presented by Jonathan Ford and Neil Collins. With Mark Stephens and David Hooper. Produced and edited...

In recent decades, oligarchs and kleptocrats have routinely used English courts to silence free speech and launder their murky pasts. In the first of a two part series Neil and Jonathan talk to distinguished lawyers Mark Stephens and David Hooper about the history of “lawfare” and their own experiences of it.   Presented by Jonathan Ford and Neil Collins. With David Hooper and Mark Steph...