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The chancellor Rachel Reeves is about to confront the British public with the size of the black hole in the country's finances. A funding shortfall of about £20bn is likely to lead to tax rises at the Budget later this year. So — how to fix the problem? The FT's political editor George Parker sits down with colleagues Stephen Bush and Robert Shrimsley to consider the government's options. Plus, the FT's infrastructure correspondent Gill Plimmer outlines the scale of the debacle that is the cancellation of the high-speed rail link between Birmingham and Manchester. Want more? Free links:Rachel Reeves to pave way for UK Budget tax rises in ‘spending audit'Expect a Tory leadership race mired in bitter and personal fightsThames Water's credit rating slashed to ‘junk'Britons may need to be put off taking trains due to HS2 curtailment, watchdog says Follow George on X @GeorgeWParker, Stephen @stephenkb. Robert @robertshrimsley, Gill @gillplimmer1Sign up for 90 free days of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter' award: https://ft.com/insidepoliticsofferPresented by George Parker. Produced by Audrey Tinline.The executive producer is Manuela Saragosa. Audio mix and original music by Breen Turner. The FT's global head of audio is Cheryl Brumley. Hosted on Acast. See acast.com/privacy for more information.
The raw sewage being pumped into rivers and seas in England has become a seismic election issue. The musician turned environmentalist Feargal Sharkey joins the FT's Lucy Fisher, George Parker and Robert Shrimsley to assess how we got here, while the FT's infrastructure correspondent Gill Plimmer analyses Thames Water's woes. Plus, the team looks at scandals in Westminster and considers how much William Wragg's honeytrap debacle and allegations that Angela Rayner failed to pay the right tax on a former house sale – which she denies – might damage their parties' chances in this election year.Since recording, Greater Manchester Police have launched an investigation into allegations that Angela Rayner potentially broke electoral law by failing to properly disclose her main residence in official documents.Follow Lucy on X: @LOS_Fisher, Robert @robertshrimsley, George @GeorgeWParker, Gill @gillplimmer1, Feargal @Feargal_Sharkey,Want more? Free links:The great stink of Thames WaterRaw sewage discharges in England and Wales hit record levels UK seeks to quell public anger on sewage with £11mn restoration fund Senior MP quits Tory parliamentary party amid sexting scandalLabour's Angela Rayner refuses to publish tax records as police probe house saleSign up here for 30 free days of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter' award. Presented by Lucy Fisher. Produced by Audrey Tinline with Leah Qiunn. Manuela Saragosa is the executive producer. Audio mix and original music by Breen Turner. The FT's head of audio is Cheryl Brumley. Hosted on Acast. See acast.com/privacy for more information.
In this the first of 2024 we take a quick look into the crystal ball, asking what we might expect in 2024. To help me with this my guest today is Gill Plimmer, infrastructure correspondent at the Financial Times and long-time observer of what makes this sector tick. Gill has spent several decades immersed in the business, finances and politics of infrastructure, writing about a range of issues over the years including the rise and fall of the PFI, the merits of water privatisation, outsourced services including the collapse of Carillion and Interserve, rail franchising and the challenge of meeting house-building targets.And much of this list will, I'm sure, return to the headlines over the next 12 months, alongside the inevitable rows and promises that accompany a General Election.ResourcesFinancial Times websiteGill Plimmer Linked InNational Infrastructure CommissionNational Grid energy dashboardNational Infrastructure Planning Association
About 30 years ago, an Australian investment company called Macquarie figured out how to turn public utilities into lucrative assets. This strategy helped catapult the company into the biggest infrastructure investor in the world. Now, its services range from delivering tap water to London to transporting gas across the United States. But recently it has emerged that one of Macquarie's former assets, Thames Water, is struggling, and the utility's consumers are feeling the consequences. We sit down with the FT's infrastructure correspondent Gill Plimmer to discuss what we can learn from Thames Water's troubles and what happens when private investments meet a public necessity. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Managed by Macquarie: the Australian group with a grip on global infrastructureThe dangers of asset managers when it comes to long-term infrastructureHow the Thames Water-gate burstThames Water travails threaten to plunge privatised sector into crisis- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Gill Plimmer (@gillplimmer1) and Topher Forhecz (@ForheczT)Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
Pressure is growing on the UK's water sector, as swelling debt threatens to overwhelm Thames Water and other companies. What is the remedy for the country's sewage and water woes? Lucy Fisher discusses the options with the FT's infrastructure correspondent Gill Plimmer. Plus the FT's Robert Shrimsley and Miranda Green discuss the Court of Appeal ruling against the government's plan to deport asylum seekers to Rwanda. And with by-elections approaching, Lucy visits Boris Johnson's former constituency to hear voters' views on the ground.Follow Lucy on Twitter @LOS_FisherRead a transcript of this episode on FT.comWant more? Why Thames Water is under growing strainMinisters seek to overturn ruling against UK migration plan Britain is being primed for a ‘hopeless' electionSign up for 90 free days of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter' award: https://ft.com/insidepoliticsofferPresented by Lucy Fisher. Produced by Anna Dedhar and Audrey Tinline. The executive producer is Manuela Saragosa. Audio mix and original music by Breen Turner. The FT's head of audio is Cheryl Brumley. View our accessibility guide Hosted on Acast. See acast.com/privacy for more information.
Joe Biden's visit to Northern Ireland was designed to mark the anniversary of the Good Friday Agreement. But it was brief compared with his stay in the Republic of Ireland. Did the US president's presence help or hinder the prime minister's efforts to restart power-sharing self-government in the Northern Ireland Assembly? Host Miranda Green discusses US-UK relations with Ireland correspondent Jude Webber and the FT's chief political commentator Robert Shrimsley. Plus, sewage again and everywhere: it's in the UK's rivers and seas. Is there a risk it could sweep away Conservative councillors and MPs? Columnist Stephen Bush and Gill Plimmer, the FT's expert on the privatised utilities, are on hand to discuss.Presented by Miranda Green. Produced by Anna Dedhar. The executive producer is Manuela Saragosa. The sound engineer is Breen Turner and the FT's head of audio is Cheryl Brumley.News clip: BBCWant more?Joe Biden's long Good Friday Joe Biden in Ireland: ‘Your feet will bring you where your heart is' Biden's ‘homecoming' Ireland visit mired in post-Brexit politicsOfwat has fined just one water company over 1994 sewage spill rulesTwo water groups blamed for 40% of England's sewage spills in 2022Join a panel led by award-winning columnists Miranda Green and Stephen Bush, who writes the daily Inside Politics newsletter, for an FT subscriber webinar on the factors that will shape the outcome of next year's general election hereFollow @greenmiranda on TwitterSign up for 90 free days of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter' award: https://www.ft.com/newsletter-signup/inside-politicsRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
The UK has left the EU, three and a half years after the referendum result. What has been the mood leading up to departure day, will anything actually change and how will Boris Johnson define Britain's future position in the world? Plus we discuss the High Speed 2 railway project and why it has been drastically mismanaged. Presented by Sebastian Payne, with George Parker, Miranda Green, Robert Shrimsley, Jim Pickard and Gill Plimmer. Produced by Anna Dedhar and Jack Denton See acast.com/privacy for privacy and opt-out information.
Britons are increasingly doubtful that private companies run things more efficiently than the state. Privatised water utilities have come in for particular criticism and are among the companies targeted for re-nationalisation by the opposition Labour party. But would the cost be prohibitive? Gill Plimmer discusses this question with Jonathan Ford.Read Gill's article here. Listen to our privatisation series hereContributors: Suzanne Blumsom, executive editor, Jonathan Ford, City editor and Gill Plimmer, infrastructure correspondent. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
Britain’s outsourcing sector is in trouble, with Interserve just the latest in a string of companies seeking financial restructuring to avert bankruptcy. Josh Noble discusses what’s behind the problems and why the government is refusing to intervene, with Gill Plimmer and Jonathan FordContributors: Naomi Rovnick, FTLive reporter, Josh Noble, weekend news editor, Gill Plimmer, infrastructure correspondent and Jonathan Ford, City editor. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information.
The UK's private finance initiative was designed as an alternative way to fund the building of hospitals, schools and other infrastructure. But was it a costly mistake? Matthew Vincent is joined by the FT’s Jonathan Ford and Gill Plimmer, Alex Jan of the global engineering company Arup and Labour MP Stella Creasy to discuss the question. See acast.com/privacy for privacy and opt-out information.
There are two ways of looking at Britain’s rail privatisation story. If you focus on usage, it looks like a success. But look at the cost and level of passenger satisfaction and the picture is not quite so rosy. Matthew Vincent discusses what's gone wrong and what can be done to fix Britain's railways with the FT's Jonathan Ford, Gill Plimmer and Robert Wright and John Stittle of Essex Business School. Music clip courtesy of ACTORvist See acast.com/privacy for privacy and opt-out information.
Years of austerity and rising bills in the UK have eroded the consensus that private companies could run utilities more cheaply and efficiently than the state and opposition politicians are calling for renationalisation. Matthew Vincent discusses what has gone wrong with Britain's privatisation model with the FT's Jonathan Ford and Gill Plimmer, and they are joined by Stephen Littlechild, the man who devised the model, and infrastructure expert Martin Blaiklock. See acast.com/privacy for privacy and opt-out information.
The collapse of Carillion, the UK construction and services group, has sent shock waves through British industry and prompted an investigation into how investors and ministers failed to spot the warning signs. Matthew Vincent discusses the political and economic fallout with the FT’s Gill Plimmer, Gemma Tetlow and Jim Pickard See acast.com/privacy for privacy and opt-out information.