Podcast appearances and mentions of rishi sunak

Triggernometry is proudly independent. Thanks to the sponsors below for making that possible: - We use Ground News to escape the echo chamber and stay fully informed. Go to https://ground.news/triggernometry to save 40% on the Ground News unlimited access Vantage plan. Konstantin X / Twitter - https://x.com/KonstantinKisin Konstantin Substack - https://substack.com/@konstantinkisin Join our exclusive TRIGGERnometry community on Substack! https://triggernometry.substack.com/ OR Support TRIGGERnometry Here: Bitcoin: bc1qm6vvhduc6s3rvy8u76sllmrfpynfv94qw8p8d5 Shop Merch here - https://shop.triggerpod.co.uk/ Advertise on Triggernometry: https://trigger-brands.com | or enquire at marketing@triggerpod.co.uk Find TRIGGERnometry on Social Media: https://twitter.com/triggerpod https://www.facebook.com/triggerpod/ https://www.instagram.com/triggerpod/ About TRIGGERnometry: Stand-up comedians Konstantin Kisin (@konstantinkisin) and Francis Foster (@francisjfoster) make sense of politics, economics, free speech, AI, drug policy and WW3 with the help of presidential advisors, renowned economists, award-winning journalists, controversial writers, leading scientists and notorious comedians. Learn more about your ad choices. Visit megaphone.fm/adchoices

Actual blackshirts are blockading ports, doxxing lifeboat volunteers and intimidating people across the South Coast, and the most senior political figure to come out against them is… Rishi Sunak? We ask why Andy Burnham won't make a full-throated condemnation of the new wave of far-right street thugs – and whether his new National Centre for Information Defence will work. Plus: With £72m of donations in the bank, are Reform UK now the political wing of the crypto industry? Special guest Peter Geoghegan of Democracy for Sale joins us to explore what happens if angry Britain votes for an anti-immigration party but gets a crypto government.  • Questions for But Your Emails? Thoughts? Comments? Email us at ogwn@podmasters.co.uk.  ESCAPE ROUTES • Jason raved about Felled: The Killing at Sycamore Gap by Andrew Hankinson. (Available to pre-order)  • Marie flew through Guilty Pleasure: The Pornification of the Internet, the Economy, and Everything Else by Patricia Nilsson. (Also available to pre-order)  • Peter enjoyed The Palm House by Gwendoline Riley.  • Andrew loved counterfactual murder mystery Pagans by James Alistair Henry. When you buy books through our affiliate bookshop you help fund the podcast by earning us a small commission for every sale. Bookshop.org's fees help support independent bookshops too. www.patreon.com/ohgodwhatnow Presented by Group Editor Andrew Harrison with Marie le Conte and Jason Hazeley. Audio Production by Tom Taylor. Art direction: James Parrett. Theme tune by Tom Taylor and Simon Williams. Managing Editor: Jacob Jarvis. OH GOD, WHAT NOW? is a Podmasters production. www.podmasters.co.uk  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Tom is joined by James Nation, former special adviser to Rishi Sunak at the Treasury, to unpack the wave of pre-Budget speculation around a lower mansion tax threshold and a possible capital gains tax rise. They discuss why this year's rumours may not be genuine Treasury trial balloons, how much financial headroom John Healey actually needs to rebuild, and which of the widely-touted tax options would truly surprise James. They also cover the prospects for Help to Buy's return, the case for extending National Insurance contributions to landlords, and what to watch for from Healey and Burnham at Labour conference next week.⁠⁠Subscribe⁠⁠⁠⁠⁠ to Tom Bill's UK Residential Outlook, for all the latest properties, exclusive market analysis, news and data.Produced by ⁠⁠Rethink Audio⁠⁠⁠⁠⁠. Hosted on Acast. See acast.com/privacy for more information.

In this episode of Whitehall Sources, we explore the upcoming Labour Party conference, the impact of recent polling data, and the strategic considerations for political parties in the UK. The House Magazine's Sienna Rodgers and James Nation, share insights on party dynamics, electoral strategies, and the current political landscape.-- Whitehall Sources is a podcast which takes you behind the door of Number 10 Downing Street. Senior advisers to our most recent Prime Ministers share their experiences and analyse current events. Top advisers to our significant political leaders analyse the successes and failures of today's politics, sharing their experiences of working in Whitehall. Jo Tanner is a political adviser and strategist who's worked with politicians from all parties. James Nation OBE is the former Deputy Head of Policy Unit to Prime Minister Rishi Sunak. Journalist and broadcaster Calum Macdonald manages their in-tray of talking points, U-turns and crises. From parties in Westminster to the tactics of SpAds, this is your exclusive insight into how politics is done and how politicians work. We welcome insiders and analysts to join the conversation each week. Listen here: https://podfollow.com/1649210131 Follow us on Twitter, Instagram and TikTok: search for Whitehall Sources Hosted on Acast. See acast.com/privacy for more information.

Dixon Cox is back, with more Cox than ever. This week: -Jacob Rees-Mogg says it's your duty to go to war and die -Rishi Sunak says being English is about cricket -Sir Jim Ratcliffe gives his opinion on immigration and inept politicians -The BBC erases Mitchell and Webb comedy sketches due to thoughtcrime Go here for the full episode: https://www.nickdixon.net/p/they-want-you-to-die-for-britain Subscribe here: www.nickdixon.net   Support us with a donation here: https://www.buymeacoffee.com/nickdixon YouTube: https://www.youtube.com/@nick_dixon   X: https://x.com/nickdixon Nick Reads YouTube: https://youtube.com/@nick_reads Nick Reads Substack: https://www.nickreads.com/ Paul's links X: https://twitter.com/PaulCoxComedy   YouTube: https://www.youtube.com/@paulcoxcomedy   Comedy clubs: https://www.epiccomedy.co.uk/  

Carl, Luca, and Firas discuss the collapse of the centre-right in Germany, Rishi Sunak's self-evident Britishness, and effective altruism's absurdity.

The headlines of the day by The Indian Express

What happens when the keys to No10 are handed back?Anne reports from a gathering of former Prime Minister's - Rishi Sunak and Keir Starmer - and reveals what life after power really looks like.Meanwhile, after some football diplomacy with Canadian PM – Mark Carney – could it offer a chance for Andy Burnham to unlock closer ties with the EU or has the reset hit another roadblock?

In the second part of his conversation with Michael Gove, Rory Stewart defends the most taboo position in British politics: that private schools are worth protecting. He further argues that the only excuse for privilege is living up to its obligations, and that a wealth tax would destroy the idea of public service.Rory tells Michael what Nigel Farage and Reform UK get wrong about tax, why he disagrees with Peter Thiel on what the wealthy should do with their money, and why Rishi Sunak staying in parliament matters more than anyone noticed.They also discuss how to get Britain growing, why he is a big fan of building more data centres, and how Rory came to be at peace with 450 new houses being built at the end of his own driveway.Plus: What he really disagrees with Alastair Campbell about, the writers he cannot stand, and his plans for the future.You can pre-order Rory's book Middleland now Hosted on Acast. See acast.com/privacy for more information.

Industry leaders from Anthropic and OpenAI are advocating for a strategic slowdown in the development of advanced artificial intelligence models to mitigate catastrophic risks. This call for "pacing" stems from alarming reports of AI agents operating autonomously, hacking platforms, and deceiving human monitors. To ensure public safety, companies are proposing the integration of third-party evaluators with deep internal access to verify alignment and security before new versions are released. Supporting voices, including former Prime Minister Rishi Sunak, argue that the responsibility for oversight must shift from private labs to government regulators to prevent a rogue AI scenario. However, experts note that such industry coordination faces significant legal hurdles, potentially requiring new antitrust legislation to allow competitors to collaborate on safety delays. Ultimately, the sources highlight a growing consensus that the speed of innovation has surpassed human control, necessitating urgent global intervention.

RHLSTP #626 - Maths is Sh*te - Rich is back at the Edinburgh Fringe, 39 years after his first appearance. His guest is fiery MP turned brilliant comic, Mhairi Black. They talk about how she became the youngest MP since 1667 (maybe), why the toxic, alcohol-sodden Houses of Parliament was not the place for her, her record breaking swearing, calling Rishi Sunak a dickhead (or not), impressing David Cameron and the media attention and death threats that come with it all. Plus thoughts on Farage, Scottish Independence and Brexit in Mhairi's usual uncompromising stance. Plus ghosts, ham hands, how Mhairi pivoted into acting and the ultimately doomed United Kingdom and its outdated parliament. Great start to the Edinburgh run.See RHLSTP live (for possibly the last time) in London this autumn http://richardherring.com/rhlstpSUPPORT THE SHOW!See details of the RHLSTP LIVE DATES Watch our TWITCH CHANNELBecome a badger and see extra content at our WEBSITE Buy DVDs and books from GO FASTER STRIPEAudio mix by Ben Evans (NTO)Thanks to Chris Evans (NTO) and Ben Walker Hosted on Acast. See acast.com/privacy for more information.

Off the back of our preview of the Bayeux Tapestry, The Rest is History's own Tom Holland asks Ed Balls and George Osborne about another significant English date: 926. The show is broadcast from inside the British Museum and Tom asks whether we should celebrate this date, commonly thought to be the beginning of England as we know it, and if so how?Two listeners also ask about education; one asks if we can achieve longstanding education reform through cross-party consensus and another seeks advice ahead of going to university in the coming weeks.Renowned biographer of British premiers Anthony Seldon then asks if his latest subject, Rishi Sunak, will see his legacy rehabilitated over time like another Tory prime minister: John Major. The pair compare Sunak's achievements to Major's, and suggest how he can continue to make an impact in life after No. 10.Finally, Sir Peter Wanless, a former colleague of Ed's, reminisces on their meeting with Dolly Parton to ask what matters more: charisma or evidence. They also commemorate the success of her Imagination Library and get into a heated debate over her best song.You can vote for Good Morning Britain in the National Television Awards here: https://www.nationaltvawards.com/vote We love hearing from you, so please don't forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question or send a question to our social media handles:

Politics is back – and it's a bumper day in Westminster. Kemi Badenoch got ahead of the field yesterday by reshuffling her top team a day earlier than expected, and the changes are much more comprehensive than first thought. James Cleverly is off to run for the London mayoralty, while Priti Patel and Mel Stride have both been given the boot. Katie Lam takes over Cleverly's housing brief, while Andrew Griffith will hope to bring some much-needed energy to the role of shadow chancellor. So what does the reshuffle tell us about Badenoch's strategy – and what does it mean for the Tories' economic offer?Elsewhere, Keir Starmer has resigned as an MP. Listeners may remember that he used to joke that Rishi Sunak would be the one to leave politics behind for sunnier Californian climes. Now, the shoe appears to be on the other foot.Oscar Edmondson speaks to Tim Shipman and James Heale.Produced by Oscar Edmondson.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: podcast@spectator.co.uk Hosted on Acast. See acast.com/privacy for more information.

This is astonishing.Malcolm Offord is the leader of Reform in Scotland and led them to a huge result in May, tying with Scottish Labour on 17 seats. But that day had mixed feelings for him as he was diagnosed with prostate cancer. It was the latest chapter in an incredible life that led him from Greenock on the west coast of Scotland, to the House of Lords via the City of London.Made a peer and a minister by Boris Johnson, Malcolm has brilliant stories about dealing with him, Liz Truss and Rishi Sunak. See the Political Party Live on Stage:9 November: Liz Kendall (London)21 December: Wes Streeting (London)GET TICKETS for Matt's brand new stand-up show Project Holy Moly at the Edinburgh Festival and touring nationwide in 2027:www.mattforde.comMARCH19 FAVERSHAM The Alex20 DORKING HallsAPRIL7 STOURBRIDGE Town Hall8 GLOUCESTER Guildhall9 LEICESTER Y Theatre12 SALFORD Lowry16 NORTHAMPTON Royal & Derngate21 EXETER Northcott Theatre24 LONDON Bloomsbury Theatre28 ALNWICK Playhouse29 BARNARD CASTLE Witham30 HULL AsylumMAY6 BIRMINGHAM The Glee Club12 COVENTRY Warwick Arts Centre13 WORCESTER Huntingdon Hall14 CHORLEY Theatre18 STAMFORD Corn Exchange19 SHEFFIELD Steamworks20 SHREWSBURY Theatre Severn21 NOTTINGHAM Theatre Royal23 LEEDS City Varieties Music Hall26 NORWICH Playhouse27 NORWICH PlayhouseJUNE2 SCUNTHORPE Plowright4 CANTERBURY Gulbenkian Theatre5 READING Concert Hall8 CARDIFF The Glee Club9 BATH Komedia10 MONMOUTH Savoy Theatre11 CHIPPING NORTON The Theatre15 BURY ST EDMUNDS Theatre Royal16 MILTON KEYNES The Stables18 TUNBRIDGE WELLS Trinity Theatre30 LIVERPOOL Everyman PlayhouseJULY1 CARLISLE Old Fire Station2 GLASGOW The Glee Club4 EDINBURGH Lyceum Theatre Hosted on Acast. See acast.com/privacy for more information.

In this policy focused edition of EMQs, Ed Balls and George Osborne are thinking about the big ideas to help solve Britain's big issues. They first consider whether steps should be taken to offer tax incentives for having children, as countries like Hungary have done. Ed and George explain why this is an ineffective measure, but an important debate governments must get on top of sooner rather than later. Fellow podcaster Emily Dean and actor Sarah Hadland then ask the biggest questions: should there be dogs in Parliament? Should they have the vote? If yes, then what about cats!? This sends Ed and George down memory lane about various MPs and their own pets over the years within Westminster.They then consider whether Andy Burnham should revive Rishi Sunak's national service scheme, as a way of contending with the NEETs crisis brewing. They look at the pros and cons of national service, and other ways previous governments have addressed this issue. A Scottish listener queries whether the individual Secretaries of State for Wales, Scotland, and Northern Ireland are necessary given each nation has devolved parliaments. The pair explain this idea has been previously explored, but abandoned for very good reasons.We love hearing from you, so please don't forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question or send a question to our social media handles:

You can also see the VIDEO VERSION of this episode, by going to https://fallacioustrump.com/ft200!In the two hundredth (!) episode, we look at False Uniqueness, starting with Trump touting his understanding of "the system", and lying while explaining his dementia test - again.In Mark's British Politics Corner, we look at Nigel Farage playing the victim, and Rishi Sunak repeatedly writing checks his electoral potential couldn't cash.In the Fallacy in the Wild section, we check out examples from Beauty and the Beast, Futurama, Brooklyn Nine Nine, and psychologist Ola Svenson.Jim and Mark go head-to-head in a special game of Fake News, in which Mark has to guess which three of nine Trump NFTs were made by Jim.Then Jim talks to Pam Pearson from VoteRiders, a fantastic organization that helps people get the ID they need to vote in their state.You can check what the ID requirements are in your state at VoteRiders.org, and if you need any help, or are worried you might not have the ID you need, call their helpline on 866-ID-2-VOTE. That's 866-432-8683.If you'd like to consider volunteering with VoteRiders, or donating to help them continue their important work, just go to their website.And finally, we round up some of the other crazy Trump stories from the past week.The full show notes for this episode can be found at https://fallacioustrump.com/ft200You can contact the guys at pod@fallacioustrump.com, on Threads @FallaciousTrump, Discord at fallacioustrump.com/discord or facebook at facebook.com/groups/fallacioustrumpAnd you can buy our T-shirts here: https://fallacioustrump.com/teeSubscribe to Fallacious Trump to make sure you never miss a logical fallacy. Rather than just mindless anti-Trump rhetoric, we apply skepticism and critical thinking to our Donald Trump analysis by exploring his liberal use of logical fallacies and cognitive biases, along with a bit of humor and news about US politics. (But there is also some of that much needed anti-Trump rhetoric.)Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

In this episode of Holyrood Sources, Calum Macdonald, Geoff Aberdein and Andy Maciver unpack another week Scottish politics.The team reacts to the official Government Expenditure and Revenue Scotland (GERS) figures, analysing Scotland's £25.3 billion public spending deficit, falling North Sea oil revenues, and what upcoming public service reforms mean for John Swinney's government.We also dive deep into the Scottish Labour leadership contest as candidates Joe Fagan and Michael Mara prepare to battle it out following Monica Lennon's exit.Plus, the team addresses listener questions on the environmental impact and energy demands of large-scale data centres versus net zero targets, and runs a political thought experiment: what would Scottish politics look like today if Rishi Sunak had won the 2024 general election? Hosted on Acast. See acast.com/privacy for more information.

Becoming prime minister is a job like no other. The arrival of Andy Burnham is the latest in the UK's recent history of prime ministers coming to the job mid-way through a parliament. Mid-term prime ministers often take over after crisis, political upheaval or the sheer weight of the job have put paid to their predecessor. And mid-term prime ministers come to the job through very different means – a leadership contest rather than a general election, or sometimes even without that. They have less time to make a difference, a party looking for change, and a policy platform that is already well underway. In this three-part series, the Institute for Government takes you behind the scenes of the mid-term changes of prime minister from John Major to Rishi Sunak. Speaking to the senior officials and advisers who were there to explore how prime ministers, their teams and the civil service prepare, what the transition is like, how they build their teams, how they change policy, and the lessons from these premierships on what it takes to succeed as a mid-term prime minister. Mid-term prime ministers – Episode 2: The Transition Many politicians have ambitions to become prime minister but however long a would-be prime minister, their advisers and civil servants spend preparing for a transition of power, that first day walking through the famous No.10 door is the moment that reality hits and the job instantly begins. In episode two we take a closer look at what happened in the first weeks and months of the mid-term premierships from Major to Sunak. How did they go about reshuffling the ministers they inherited? How did they build their No.10 team? And how did they manage the fundamental question that affects mid-term prime ministers far more than those coming in from a general election: how much do they change their predecessor's agenda?    Presented by Catherine Haddon Featuring Gus O'Donnell, Mark Sedwill, Helen MacNamara, Simon Case, Stewart Wood, Salma Shah, Lee Cain, Asa Bennett and Rupert Yorke. Learn more about your ad choices. Visit podcastchoices.com/adchoices

pWotD Episode 3389: Count Binface Welcome to popular Wiki of the Day, spotlighting Wikipedia's most visited pages, giving you a peek into what the world is curious about today.With 47,831 views on Wednesday, 12 August 2026 our article of the day is Count Binface.Jonathan David Harvey (born May 1980) is a British writer who contests elections as the novelty candidate Count Binface, an "independent space warrior" who wears a bin-shaped helmet. Harvey previously stood as a similar character, Lord Buckethead, but was forced to create a new one due to a dispute with the filmmaker Todd Durham, who owns the Buckethead character.Binface stood against the prime minister, Boris Johnson, in Uxbridge and South Ruislip at the 2019 general election, and the 2023 by-election which followed Johnson’s resignation as a member of Parliament. He contested the 2021 and 2024 London mayoral elections, and stood against the prime minister, Rishi Sunak, in Richmond and Northallerton at the 2024 general election. Binface stood at the 2026 Makerfield by-election, which was won by Andy Burnham, the current prime minister. Binface is the primary contender against the Reform UK leader Nigel Farage at the 2026 Clacton by-election amidst a boycott by the other major parties.Harvey has used Binface to promote electoral participation, with the slogan "Make Your Vote Count". He originally stood as an independent, but his affiliation since 2023 has been to the Count Binface Party.This recording reflects the Wikipedia text as of 03:40 UTC on Thursday, 13 August 2026.For the full current version of the article, see Count Binface on Wikipedia.This podcast uses content from Wikipedia under the Creative Commons Attribution-ShareAlike License.Visit our archives at wikioftheday.com and subscribe to stay updated on new episodes.Follow us on Mastodon at @wikioftheday@masto.ai.Also check out Curmudgeon's Corner, a current events podcast.Until next time, I'm neural Arthur.

Our first episode explores the recent history of mid-term changes of prime minister from John Major to Rishi Sunak. Speaking to senior officials and advisers involved, we go behind the scenes of the preparation and leadership contests, the context in which they took over, and find out what kind of experience makes a difference when inheriting the top job in UK politics. Featuring Gus O'Donnell, Mark Sedwill, Helen MacNamara, Simon Case, Stewart Wood, Salma Shah, Lee Cain, Asa Bennett and Rupert Yorke. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Almost half of all adults in the UK struggle with financial literacy. Many do not understand the three key concepts – compounding returns, inflation, and risk.Without understanding these concepts, building financial independence becomes harder. Indeed the rising levels of young people not in education, employment or training can be linked back to poor numeracy skills in schools.That presents a “huge national challenge”, says Lizzie Gaisman, chief executive of The Richmond Project, a charity founded by former prime minister Rishi Sunak to champion numeracy.MoneyWeek Talks is a podcast that helps you unlock the secrets to financial success, where experts share their top tips on managing money, investing wisely and building wealth.Subscribe to the MoneyWeek Talks podcast and get ready to make it, keep it and spend it.

Nach Theresa May, Boris Johnson, Liz Truss, Rishi Sunak und Keir Starmer hat nun der sechste britische Premierminister in sieben Jahren seinen Dienst angetreten: der Labourpolitiker Andy Burnham. Nur: Für wie lange? Diese Frage kann das Spotlight-Team nicht beantworten. Dafür erfahren Sie in dieser Episode mehr über den Hintergrund des ehemaligen Bürgermeisters von Manchester, über seine Wahrnehmung in der Öffentlichkeit und seine Agenda.  Die Britinnen Inez Sharp und Lorraine Turner Akcakaya sowie der Ire Owen Conors diskutieren außerdem, welche Stimmung nach dem Machtwechsel in Großbritannien herrscht. Auch wenn man eine gewisse Erleichterung spürt, dass Starmers Zeit im Amt beendet ist, gibt es Zweifel – und auch Rufe nach einer Neuwahl. Das Magazin Spotlight können Sie hier bestellen. Als Dankeschön erhalten alle Podcasthörer die erste Ausgabe des Abonnements kostenlos. Den Newsletter »ZEIT für Englisch« finden Sie hier. [ANZEIGE] Mehr hören? Dann testen Sie unser Podcast-Abo mit Zugriff auf alle Dokupodcasts und unser Podcast-Archiv. Jetzt 4 Wochen kostenlos testen. Und falls Sie uns nicht nur hören, sondern auch lesen möchten, testen Sie jetzt 4 Wochen kostenlos DIE ZEIT. Hier geht's zum Angebot. 

This week The Rundown looks at what those first few hours are like inside Downing Street after a new Prime Minister takes over, speaking to those who were there alongside incoming leaders as they enter Number 10, and what Andy Burnham and his team can learn from the previous transitions of power about what to expect and how to hit the ground running as soon as they step through that famous black door.First up host Alain Tolhurst speaks to James Nation, who was deputy director of the Downing Street policy unit under Rishi Sunak, and Lucia Hodgson, who entered Number 10 alongside Boris Johnson as deputy press secretary.Then later in the show he hears from Jimmy McLoughlin, who was a special advisor on business to Theresa May, and the host of the Jimmy's Jobs podcast, as well as Tim Durrant, programme director at the Institute for Government, who works on the think tank's academy programme which provides training for new ministers and advisors.To sign up for our newsletters click herePresented by Alain Tolhurst, produced and edited by Ewan Cameron for Podot

In this week's Autopsy we react to Count Binface, the satirical independent candidate and self-described space warrior, facing off against Nigel Farage in a local by-election. Count Binface, the alter ego of British scriptwriter Jonathan Harvey, has previously stood against Theresa May as Lord Buckethead and against Boris Johnson, Rishi Sunak, and Andy Burnham as Count Binface. His manifesto includes building one affordable house and tying ministers' salaries to those of nurses. He is, against all odds, the most honest candidate on the ballot.The reason Farage is facing a by-election at all is revealing. Having failed to declare a five million pound donation from a cryptocurrency billionaire living in Thailand within the required twelve-month window, he now faces a parliamentary inquiry. His response is to step down and immediately run again, using the popular vote as a shield against institutional accountability. The message is classic right-wing populism: the rules are the establishment's weapon against your democratic will, and as long as enough people vote for me, none of it applies. The other major parties declined to participate, correctly identifying the whole exercise as a stunt. That left Count Binface.We discuss what this moment says about where British politics has arrived: a world in which a member of parliament receiving five million pounds from a foreign entity is treated as a procedural question rather than a scandal, in which corruption has become so normalised that the electorate is expected to shrug, and in which the most coherent critique of the entire spectacle is delivered by a man in a bin-shaped helmet. We also make the case for local constituency democracy, and agree that bringing back Ceefax was genuinely ahead of its time.This podcast is an individual project between us, Dario Hasenstab and Balder Hageraats. We are supported by our producer Stefani Obradovic from Western Bubble Insights & Strategy. If you would like to get in touch with us, write us an email at thewesternbubble@gmail.com.

As the country hurtles towards appointing its seventh PM in a decade, this week The Rundown asks has the UK become ungovernable? And if so, why? And what can be done, if anything can be, to stop the rot and get back to a period of relative stability in our national politics.Joining host Alain Tolhurst in looking at where Keir Starmer failed, as Rishi Sunak, Liz Truss, Boris Johnson, Theresa May and David Cameron did before him, and whether Andy Burnham will end up going the same way, is Caroline Slocock, former Private Secretary to two Prime Ministers and a longtime senior civil servant, who has a new book out entitled ‘Bad Government', going behind the famous black door of Number 10 to reveal why the ship of state is so hard to steer, and exploring why successive leaders have failed in their promises to reset government and rebuild trust.Alongside them are Joe Hill, director of strategy at the think tank Re:State, as well as Hannah Keenan, associate director at the Institute for Government.To sign up for our newsletters click herePresented by Alain Tolhurst, produced and edited by Ewan Cameron and Lulu Goad for Podot

Akshata Murthy, entrepreneur, philanthropist and wife of the former Prime Minister, Rishi Sunak, is our guest today. And it's particularly interesting to listen to this episode in light of the resignation of Keir Starmer yesterday (Monday 22 June 2026): what is it really like to be married to a prime minister? What are Akshata's memories of the day, in the pouring rain, that Rishi Sunak announced the fateful 2024 election? Did she feel she sacrificed her own life and career to make way for Rishi's ambitions? Plus, this episode opens with some topical chat from Gyles and Harriet - move over, Rest is Politics!But this episode is really about Akshata's own life and times - her unusual childhood, in which she was raised until the age of five by her maternal grandparents in a small, dusty town, eating mangoes straight from the tree, while her parents worked hard to build their company. She talks of the pain and confusion of missing her parents, and of the conflicting emotions that brings up. Akshata talks about her parents' vision and commitment to giving back to India - to "compassionate capitalism" and philanthropy. She talks about moving to Bangalore, her school life and her first crush. She talks about college in California and meeting Rishi.This is an interesting, unexpected conversation. With many thanks to Akshata Murthy. Enjoy this. Hosted on Acast. See acast.com/privacy for more information.

Com a saída confirmada de Keir Starmer, empurrado pela eleição como deputado de Andy Burnham - nova estrela do Partido Trabalhista e o político que se segue -, o Reino Unido chega ao sétimo primeiro-ministro desde que realizou o referendo do BREXIT, em 2016. À procura de entender a política britânica, conversamos com o editor de Internacional do Expresso, Pedro Cordeiro.See omnystudio.com/listener for privacy information.

‘Brexit means Brexit’ was de leuze van premier Theresa May. Het klonk vol overtuiging en zelfs een beetje parmantig, maar ook zij ging roemloos ten onder. En nog heel wat andere Britse politici verdwenen in de mist. Als slachtoffers van het welbewuste uittreden van het Verenigd Koninkrijk uit de Europese Unie. Op 23 juni is het tien jaar gelden dat het Brexit-referendum plaatsvond. 52 procent van de deelnemende Britten koos voor scheiding. Jaap Jansen en PG Kroeger duiken in de vaak onbekende en soms vergeten historie van die dramatische stap en de nasleep ervan tot nu toe. Een verhaal dat nog niet af is, want steeds meer Britten vinden dat er een grote fout gemaakt is. De turbulente nasleep zit vol paradoxen. Zo gebeurde in de EU precies het omgekeerde van wat de Brexit-voorstanders luidkeels verkondigden. *** Deze aflevering is mede mogelijk gemaakt met donaties van luisteraars die we hiervoor hartelijk danken. Word ook vriend van de show! Heb je belangstelling om in onze podcast te adverteren of ons te sponsoren? Zend ons een mailtje en wij zoeken contact. *** In de kern was de door David Cameron uitgeschreven volksstemming een slim geachte oplossing voor een strikt binnenlands probleem. Omdat zijn eigen Tory Party al decennia ideologisch gespleten was over de rol van de Britten in Europa - en de Labour Party niet minder - beloofde hij een 'heronderhandeling' over die rol, te bekronen met een referendum. Die heronderhandeling stelde niet veel voor en bleek grotendeels overbodig. Camerons boodschap werd daardoor: eigenlijk hebben we het in de EU best naar ons zin en de kleine, nuttige aanpassingen van bestaande afspraken, die krijgen we. Het contrast met de ideologische, apocalyptische anti-EU-betogen kon niet groter. Het werd een campagne tussen onspectaculaire, technische agendapunten en bijna panische ondergangsvisioenen, waarin Brexit als allerlaatste kans voor de identiteit en welvaart van de Britse eilanden werd afgeschilderd. Die duistere paniek mobiliseerde angstige kiezers, op de achtergrond geholpen door Trumps adviseur Steve Bannon en het Kremlin. En het werkte. De conservatieve regering zich had nauwelijks voorbereid op de impact van het referendum. Vijf premiers op rij - na Cameron en May ook Boris Johnson, Liz Truss en Rishi Sunak - worstelden met 'Brexit means Brexit'. Wat betekende dat nou echt? Definitieve uittreding - in welke vorm dan ook - werd keer op keer uitgesteld. De EU-landen, aangevoerd door onderhandelaar Michel Barnier, lieten zich geen moment uit elkaar spelen en kwamen steeds weer met heldere technische oplossingen, waar de Britse ministers van terugschrokken. Toen Brexit eind 2020 echt een feit was, zat de schrik er goed in. De concrete gevolgen raakten ongeveer elke aspect van dagelijks leven. Dromen als van een welvarend 'Global Britain', als een 'Singapore aan de Noordzee', enorme besparingen op Brusselse bureaucratiekosten en dichte grenzen bleken luchtspiegelingen. De Britten leverden vooral veel welvaart in; banen en connecties met buren die klanten waren geweest. Zo ruïneerde Brexit het vertrouwen in politiek en politici verder. Brexit-initiator Nigel Farage stookte de verdeeldheid verder op. Labour van Keir Starmer profileerde zich als competent alternatief. Maar ook hij bleek de onderliggende effecten van een exit zonder plan of duidelijk politiek doel te niet goed te kunnen aanpakken, laat staan oplossen. Politieke versplintering en destabilisatie blijft domineren. En de Europese Unie zelf? De Europeanen waren niet blij, maar niettemin vrij snel opgelucht. Zonder de Britten kon de Unie zich op allerlei terreinen stevig herinrichten. Geen enkele lidstaat zou ooit nog vrijwillig zo'n suïcidale stap zetten. Viktor Orbán frustreerde graag, maar de EU verlaten? Dat nooit. Doordat de Britten wel weer meewilden doen met populaire EU-programma's als Erasmus en Horizon en zich met defensie-inspanningen ook meer op de EU ging richten kwam er zelfs flink wat geld in het laatje. Waar men de Britten als partners kon gebruiken, waren ze welkom. Waar niet, kon men ze buiten de deur houden. Omdat Londen geweigerd had bij de Brexit met de Unie een heldere structurele relatie in te richten, zat juist 'Brussel' achter de knoppen. Michel Barnier had de Britten er al voor gewaarschuwd: "Jammer is het, we wensen jullie alle goeds op je eigen nieuwe pad. Maar ook voor ons geldt nu 'life goes on'." *** Verder kijken Brexit: A Very British Coup? The Brexit Scandal *** Verder luisteren 585 - 'Nostalgie is geen strategie': Canada breekt met Amerika en kiest voor de EU 567 - De geschiedenis beukt op Europa's deur. Caroline de Gruyter over zondagskinderen in een ruige wereld 427 - Europa wordt een grootmacht en daar moeten we het over hebben 416 - Nostalgie naar de E.E.G. 378 - Dertig jaar na 'Maastricht' is Europa toe aan een nieuwe sprong voorwaarts 333 - Een 'bromance' tussen Rishi Sunak en Emmanuel Macron. De haat-liefdeverhouding van Britten en Fransen 328 – Nieuwe rauwe wereld. Brexit, what Brexit? 299 - Dramatische verschuivingen in de wereldpolitiek. Europa heeft eindelijk een telefoonnummer 283 - Zinkende schepen verlaten de rat: het pijnlijke afscheid van Boris Johnson 71 - Caroline de Gruyter: 'Brexit maakt Europa sterker' 52 - Hoe Rutte David Cameron teleurstelde 535 - 100 jaar Margaret Thatcher, de Iron Lady 30 - Thatcher, Delors en Europa 479 - Winston Churchill. Staatsman. Redenaar. Excentriekeling 32 - Churchill en Europa: biografen Andrew Roberts en Felix Klos *** Tijdlijn 00:00:00 – Deel 1 00:43:55 – Deel 2 01:03:55 – Deel 3 01:49:20 – EindeSee omnystudio.com/listener for privacy information.

At a moment some are calling the “Mythos Moment” for artificial intelligence, the conversation around technology is shifting in real time. In this episode of Tools and Weapons, Brad Smith sits down with former UK Prime Minister Rishi Sunak, now working at the center of global AI policy and innovation, to explore what happens when breakthroughs move faster than the systems built to govern them. The discussion looks at the risks that could define this era, the policy choices shaping global AI development, and what leaders must do now to build trust while enabling innovation. From cyber threats to economic disruption, this conversation examines what it will take to navigate one of the most consequential technology moments in decades. Listen to the full episode and join the conversation about how we shape the future of AI responsibly.

As Greater Manchester mayor Andy Burnham and former health secretary Wes Streeting jostle for influence in the Labour party, host Sascha O'Sullivan looks at what it takes to turn around a party's fortunes mid-term. Former John Major aide Daniel Finkelstein explains how the Conservative Prime Minister managed to win the 1992 elections against the odds and differentiate himself from his predecessor, Margaret Thatcher. Theo Bertram, former Tony Blair and Gordon Brown advisor turned think tank boss, talks Sascha through Brown's fateful decision not to call a snap election after taking over from Blair, and the challenge he faced in gripping the No. 10 machine. The most recent history of mid-term Prime Ministers might prove most instructive for any new Labour Prime Minister, and Rishi Sunak 's former deputy director of policy James Nation takes Sascha inside the effort to reboot his premiership. He tells Sascha Sunak's team found themselves hamstrung by the manifesto commitments promised in 2019, and struggled to keep the party from infighting after taking over from Liz Truss. Sascha discusses the lessons from these mid-term Prime Ministers with former Keir Starmer policy director Claire Ainsley to find out if Labour can fight its way out of unpopularity — with or without Keir Starmer at the helm. Learn more about your ad choices. Visit megaphone.fm/adchoices

Why does every British Prime Minister now seem doomed almost immediately? In this episode of Mark and Pete, we explore whether the job of Prime Minister has quietly become impossible. From Boris Johnson and Liz Truss to Rishi Sunak and Keir Starmer, modern British politics increasingly feels less like leadership and more like surviving a public psychological experiment conducted by Twitter, the Treasury, and several angry breakfast television presenters simultaneously.We look at collapsing trust in politicians, impossible public expectations, media outrage cycles, and why Britain may simply have become too fragmented to govern easily anymore. There's discussion of short-lived governments, permanent online anger, NHS pressures, immigration tensions, economic stagnation, and the strange modern assumption that one politician should somehow solve every national problem while also appearing charming in awkward factory photo opportunities.Mark and Pete also discuss whether politics has accidentally become a substitute religion in modern Britain, with Prime Ministers treated first as messiahs and then as scapegoats roughly six weeks later. Which, if nothing else, keeps the opinion poll industry gainfully employed.A witty, thoughtful, slightly sardonic Christian look at British politics, leadership, media culture, and why governing the United Kingdom increasingly resembles trying to pilot a shopping trolley through a hurricane.

What happens when a government goes all in on AI? It creates some huge vulnerabilities. Will Dunn joins Paris Marx to dig into how the UK government is using chatbots to write laws without public consultation and why it isn't asking the hard questions about the risks of that growing reliance on US technology. Will Dunn is the business editor at the New Statesman. Tech Won't Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Support the show on Patreon. The podcast is made in partnership with The Nation. Production is by Kyla Hewson. Also mentioned in this episode: Will wrote about the UK government's adoption of AI and the risks it presents. Rishi Sunak is working with Anthropic. Sunak acknowledges companies reliant on AI technology are hiring less young people. Will shouts out the book Fancy Bear Goes Phishing by Scott J. Shapiro.

Sir Keir Starmer is holding onto his job – but only just. Dozens of Labour MPs have this week called on the UK’s PM to quit as party leader, but just as many have insisted he should stay – and that leaves Britain in a big old political mess. Read more about this story at theaustralian.com.au and see the video by subscribing to our YouTube channel. Pressure grows on UK's Starmer to quit as PM UK continues its slide as Labour leadership saga drags on Anthony Albanese warns British Labour against ousting Keir Starmer amid leadership crisis After this ‘WTF moment’, Keir Starmer’s fate is out of his hands Commentary by Greg Sheridan: Keir Starmer’s leadership in crisis after Labour election disaster, fuelling fears for Britain’s future This episode of The Front is presented by Claire Harvey, produced by Kristen Amiet and edited by Joshua Burton. Our team includes Lia Tsamoglou, Tiffany Dimmack, and Jasper Leak, who also composed our music. See omnystudio.com/listener for privacy information.

This week we talk about Keir Starmer, Labour, and the Reform UK party.We also discuss Tories, the Lib Dems, and two-party systems.Recommended Book: Peak by K. Anders Ericsson and Robert PoolTranscriptFor more than 100 years, the British political system has been dominated by two parties: Labour and the Conservative Party, often called the Tories.In practice, that means these two parties, which are center-left and center-right in their leanings, respectively, have tended to shape the direction of British politics and the Overton Window of thinkable proposals—things that might actually happen because they get the requisite support from politicians and the public.These two parties have usually had to work with other, smaller parties in order to get anything done, because the UK has a parliamentary system that often leaves the party with the most representatives lacking enough support to run a functioning government, solo. As a consequence, the Liberal Democrats, which is a fairly centrist party, the Green Party, which focuses on environmentalism and more left-wing concerns, Plaid Cymru (plied KUM-ree), which is the Welsh nationalist party, and the Scottish National Party, which is exactly what it sounds like, have long influenced Labour and the Tories, aligning their votes with whomever gives them a seat at the table. This has given some influence to smaller groups that might otherwise lack representation, though that influence has typically been moderate to meager, at best—the folks in Labour and the Conservative party have run things in the UK, and that's been the case for generations.Things started to shake up a bit in the 20-teens, however, when anti-immigration and EU-skepticism in Britain led to the creation of the far-right Brexit Party, which was co-founded by politician Nigel Farage, who was the leader of the UK Independence Party in the early 2000s and 20-teens, and who was previously a Tory, and Catherine Blaiklock, a politician and hotelier who stepped down from her position as party leader the year after the Brexit Party was founded after anti-Islamic and racist comments she'd previously made online were rediscovered.The Brexit Party existed, almost exclusively, to push for a no-agreement exit from the European Union by the UK, which was considered to be a fairly fringe ideology back then, but which gained a lot of steam as other populists began to add their support to the general concept.Both the government and the existing political structure of the UK was then caught flat-footed, by all indications very surprised by the eventual success of that push, and the UK left the EU on January 31, 2020, after a whole lot of skepticism that it would ever happen, even after a vote in favor of Brexit took place. This represented a serious come to Jesus moment for British politicians, but also British society, and there's been quite a lot of self-reflection and naval gazing in the years since, as the Brexit pullout from the EU has caused quite a lot of economic and diplomatic damage, while also shining a spotlight on numerous simmering issues that were previously overlooked or unaddressed, including the bubbling resentment and at times outright xenophobia felt by a significant portion of the British electorate, and persistent economic issues faced by folks at the middle and lower rungs of society.What I'd like to talk about today is the recent 2026 UK Local Elections, and what they seem to tell us about how things are going in British politics, and what they portend for the current Labour-run administration.—On May 7, 2026, the UK held local elections for 5,066 councillors, 136 local authorities, and six directly elected mayors. Some of these elections were postponed in 2025 to allow for government restructuring, but most of these positions were last up for election in 2022.This election was generally seen as an unofficial referendum on the governing Labour Party, and in particular the current Prime Minister, Keir Starmer, who has been in office for just under two years, and who stepped into the role of PM after the role was held by the Conservative Tories for 14 years; five different Prime Ministers taking the reins during that period, including David Cameron, Theresa May, Boris Johnson, Liz Truss, and Rishi Sunak.All that changing in leadership is indicative of the chaos the UK government was experiencing at the time, the May 2010 general election leading to a period of significant austerity—the government cutting tons of social programs in order to reduce spending—which then fed into more support for Brexit when some members of the party positioned the economic issues people were facing as the consequence of EU-related immigration, and shortly thereafter, the world succumbed to the Covid-19 pandemic.There was a lot of truly significant political change from about 2010 onward, then, and a lot for the general population to be upset about. The Conservatives held onto power despite it all for those 14 years, but the shift back to Labour was the result of Starmer and his party saying, listen, we hear you, a lot has to change, and we can instigate that change. Trust us.This new election suggests that the majority of voters in the UK feel that the Labour Party hasn't lived up to that trust.In Wales, Plaid Cymru has taken the most seats, 43, but failed to achieve the 49 seat majority they would require to govern, solo.In Scotland, the SNP took the most seats, but also fell short of a majority, netting 58 seats, not the 65 required for a majority.Both of those results are not terribly shocking, though in Wales Labour lost a lot of power, down 35 seats and holding onto just 9. The Conservatives also lost in Wales, holding onto seven seats and losing 22.In Scotland, too, Labor lost some of their influence, losing 4 seats and retaining 17, while the Conservatives lost a whopping 19 seats, holding onto just 12.In England, the change in seat allocation was stunning, though.Labour lost 1406 seats, leaving them with 997, while the Conservatives lost 557 seats, holding onto just 773.Even considering those losses, the biggest story in England is the surge in support for previously small parties, in particular a far-right party called Reform UK, previously called the Brexit Party, and run by the aforementioned proponent of the British exit from the EU, Nigel Farage.Reform UK went from 2 seats to 1,444; a shocking outcome, and one that makes them the biggest winner in this election, by far. They also gained 17 seats, up from zero, in Scotland, putting them at an equal level there with Labour, and they went from zero to 34 in Wales, putting them in a competitive second place after Plaid Cymru, which again, claimed 43 seats.Other, non-Labour, non-Conservative parties also gained seats in this election, though not at the level of Reform UK.The Green Party gained two seats in Wales and six in Scotland, bringing them up to 15 there. They also gained 374 sets in England, bringing them up to 515 total seats, which leaves them in fifth place, but just 258 seats shy of the Conservatives.The Lib Dems, which are the local Centrist party, gained 151 seats, putting them in third. And there was a small surge in independent politicians winning elections, as well, that group now controlling 199 seats, up from 27 before this vote.In the wake of this absolute shellacking of Keir Starmer's Labour party—which again, lost 1406 seats in England, and their opposition, and in many ways their polar opposite, the far-right Reform UK party, gained even more than Labour lost, up 1442 seats—in the wake of that, Starmer has been asked to resign, and as of the day I'm recording this, at least, he's saying that he will not resign, and since there's no formal challenge to his leadership, he can stay in power if he chooses.There is a growing movement amongst Labour lawmakers to ask him to set a timetable for stepping down, however, and there's a pretty good chance that will happen, as the British political system allows parties to change their Prime Minister mid-term without requiring a new election, so they could swap him out for someone else, making him the face of this immense electoral failure, then they could try to change course before the next election, which will happen by mid-August of 2029, during which the vote will be for the 650 seats in the House of Commons, which is currently dominated by Starmer's Labour party.The big takeaway here, from political analysts at least, is that what used to be a reliably two-party system, for over a century that's been the case, is now a five-way race within a cultural context in which voters seem to be a lot less loyal to politicians and parties, and in which a whole lot of previously reliable infrastructure, social systems, and cultural expectations have been recently disrupted.People in the UK seem to be generally unhappy about all sorts of things, and that kind of broad unhappiness often results in more populism, which means general anti-establishment stances and us-versus-them ideologies, including racial, religious, and nationalistic versions of such ideologies, and typically a lot more support for charismatic leadership over leaders who are generally qualified and will probably be good at their jobs because they're experienced and knowledgeable.In other words, you're more likely to get loudmouths and celebrities running for office, successfully, in populist electoral contexts, and you're also more likely to see parties leaning into superficial race, class, and elite-vs-everyman issues, as opposed to running on well-defined approaches to dealing with more complex issues.In the meantime, until that 2029 election, it's likely Farage's Reform UK will bang the drum against the governing Labour party to gather more power in the lead up to 2029, and that other non-Labour, non-Conservative parties will attempt to do the same, newly energized by these results.And depending on how that non-voting-year rallying goes, this could represent a foot in the door for these smaller parties. And we could consequently see more former Labour and Conservative politicians and voters leaving for Reform, for the Lib Dems, for the Greens, and for independents. All of which will make UK politics a lot more chaotic, but also probably more diverse, with power less centralized and the government's makeup a bit less predictable.Show Noteshttps://en.wikipedia.org/wiki/2026_United_Kingdom_local_electionshttps://www.nytimes.com/2026/05/08/world/europe/uk-elections-local-takeaways.htmlhttps://www.nytimes.com/live/2026/05/08/world/uk-local-elections-resultshttps://apnews.com/article/uk-elections-starmer-labour-what-to-know-eb11ff39b1b74bbaf9f4ef6abfd60f64https://www.cnn.com/2026/05/08/uk/uk-local-election-reform-farage-starmer-intlhttps://www.bloomberg.com/news/articles/2026-05-08/how-bad-for-labour-britain-s-local-elections-in-six-chartshttps://en.wikipedia.org/wiki/Politics_of_the_United_Kingdomhttps://www.bbc.com/news/live/c1428pev1n0t#election-englanhttps://www.politico.eu/article/nigel-farage-reform-uk-win-next-general-election/https://en.wikipedia.org/wiki/Next_United_Kingdom_general_electionhttps://en.wikipedia.org/wiki/Catherine_Blaiklockhttps://en.wikipedia.org/wiki/Reform_UKhttps://en.wikipedia.org/wiki/Nigel_Faragehttps://en.wikipedia.org/wiki/Brexit This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

What really happens behind the black door of Number 10? Suella Braverman joins Andrew Gold. She exposes the shocking reality of the "institutional orthodoxy" that governs the UK. From explosive disagreements with Liz Truss and Rishi Sunak to the secret mechanisms blocking the will of the British people, Braverman pulls back the curtain on Westminster's elite. Follow Suella on X: https://x.com/SuellaBraverman  SPONSORS: Go to https://surfshark.com/heretics for 4 extra months of Surfshark  Get an exclusive 15% discount on Saily data plans! Use code andrewgold at checkout. Download Saily app or go to https://saily.com/andrewgold   Check Plaud UK: https://bit.ly/40Gzdh1  | US: https://bit.ly/475MQKe Notepro: https://bit.ly/479tWSR Organise your life: https://akiflow.pro/Heretics  Earn up to 4 per cent on gold, paid in gold: https://www.monetary-metals.com/heretics/  Cut your wireless bill to 15 bucks a month at https://mintmobile.com/heretics  Is there a "secret world order" at play, or is the "Blob" simply a product of a left-leaning civil service? We dive deep into the migration crisis, the failure of multiculturalism, and the rise of Islamist terrorism—75% of MI5's workload today. This is a raw, eye-opening look at the leadership vacuum in Britain and whether reform is even possible. Support the Heretics mission: If you believe in uncovering the truth, subscribe and hit the bell icon to stay updated on our latest investigations. #SuellaBraverman #WestminsterExposed #TheBlob #UKPolitics #ImmigrationCrisis #Heretics #AndrewGold #ReformUK #PoliticalTruth #InsideNumber10 Join the 30k heretics on my mailing list: https://andrewgoldheretics.com  Check out my new documentary channel: https://youtube.com/@andrewgoldinvestigates  Andrew on X: https://twitter.com/andrewgold_ok   Insta: https://www.instagram.com/andrewgold_ok Heretics YouTube channel: https://www.youtube.com/@andrewgoldheretics Chapters 00:00 The Secret Fights Behind Closed Doors  02:01 Shocking Truths from the Home Office 04:02 — Why the Prime Minister Blocked Me  06:37 The Day I Resigned from Liz Truss's Government  09:44 Inside Number 10: What It's Really Like  13:10 The Economic Religion of the Elites  15:58 Has Multiculturalism Failed? The Cultural Impact  19:25 "I've Experienced Racism": The Real Immigration Debate  21:02 Defining "The Blob": The Civil Service Orthodoxy  25:10 The Leadership Vacuum: From May to Boris  30:54 "Whatever It Takes": Rishi's Public vs. Private Face  33:51 The Militarized Wall: How Greece Stopped the Boats  37:04 Is Britain in Despair? The Deterrence Crisis  41:07 The Sickening Truth About Grooming Gangs  43:33 Sharia Law and Family Voting in the UK  46:40 Will the Elites Stop Reform? Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Dr Fatima Rajina is joined by Marieha Hussain to talk about her experience of the Coconuts trial. A case that saw the political activist being charged with, and eventually proven innocent of, a racially aggravated public order offence for showcasing a satirical placard labelling Rishi Sunak and Suella Braverman as “coconuts” prompting the fundamental question “Who has the right to police your language”? In November 2023, Marieha was arrested for displaying a placard labelling prominent exponents of the then-Tory government as “coconuts” during a pro-Palestine protest. According to the charges put on her, the term coconut was equivalent to a racist slur. Yet, Black and Brown activists have historically used it to call out members of their communities who aligned with colonial powers and white supremacists. This episode was initially aired by Stephen Lawrence Research Centre Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

In this episode, Dr Fatima Rajina is joined by Marieha Hussain to talk about her experience of the Coconuts trial. A case that saw the political activist being charged with, and eventually proven innocent of, a racially aggravated public order offence for showcasing a satirical placard labelling Rishi Sunak and Suella Braverman as “coconuts” prompting the fundamental question “Who has the right to police your language”? In November 2023, Marieha was arrested for displaying a placard labelling prominent exponents of the then-Tory government as “coconuts” during a pro-Palestine protest. According to the charges put on her, the term coconut was equivalent to a racist slur. Yet, Black and Brown activists have historically used it to call out members of their communities who aligned with colonial powers and white supremacists. This episode was initially aired by Stephen Lawrence Research Centre Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/islamic-studies

In this episode, Dr Fatima Rajina is joined by Marieha Hussain to talk about her experience of the Coconuts trial. A case that saw the political activist being charged with, and eventually proven innocent of, a racially aggravated public order offence for showcasing a satirical placard labelling Rishi Sunak and Suella Braverman as “coconuts” prompting the fundamental question “Who has the right to police your language”? In November 2023, Marieha was arrested for displaying a placard labelling prominent exponents of the then-Tory government as “coconuts” during a pro-Palestine protest. According to the charges put on her, the term coconut was equivalent to a racist slur. Yet, Black and Brown activists have historically used it to call out members of their communities who aligned with colonial powers and white supremacists. This episode was initially aired by Stephen Lawrence Research Centre Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/british-studies

Angela Rayner has fired the opening shot in the leadership race to succeed Keir Starmer, warning that Labour is 'running out of time'.We discuss the art of being on manoeuvres without being caught doing it - from Michael Portillo installing the phone lines, to Rishi Sunak's team secretly registering 'readyforrishi.com'.And, will any of the potential candidates - including Angela Rayner, Wes Streeting, Andy Burnham or even John Healey - actually be ready to go if the party suffers a heavy defeat in the local elections in May?We also give (unsolicited) reading suggestions for Keir Starmer:Sally: The Choice Before the Labour Party, RH TawneyPolly: The Man Who Planted Trees, Jean GionoDanny: Get In: The Inside Story of Labour Under Starmer, Patrick Maguire and Gabriel PogrundHugo: Guards! Guards! Terry PratchettSend your questions, comments and voicenotes to howtowin@thetimes.co.uk Hosted on Acast. See acast.com/privacy for more information.

In this episode, I speak with Marieha Hussain about the story behind the Coconut Placard Case.We begin with her early life and identity as a Muslim South Asian woman in post-9/11 Britain, before turning to the protest that led to a police investigation, a criminal trial, and ultimately her acquittal.We unpack what really happened at the pro-Palestine march, and why a satirical placard featuring Rishi Sunak and Suella Braverman triggered such a rapid police response.Marieha explains how an anonymous right-wing blog came to play a role in the case, and how the word “coconut”, widely understood within South Asian communities, was reframed by the state as a hate crime.Our conversation explores the tension between free speech and hate speech, the policing of protest in the UK, the emotional toll of being prosecuted, and the role community solidarity played throughout the trial.Marieha also reflects on what this case reveals about activism, racism, and state power, as well as the advice she would give to others considering speaking out.

Kemi Badenoch is the Conservative MP for North West Essex and the Leader of the Opposition. Since winning her seat in 2017, she has held cabinet positions as Minister of State for Equalities under Boris Johnson and Secretary of State for International Trade under Liz Truss and Rishi Sunak. She became leader of the Conservative Party in 2024 after Rishi Sunak's resignation and is the first black person to lead a political party in Britain. Her Nigerian parents came to Britain for medical treatment and Kemi was born in a private hospital in Wimbledon in January 1980. Her parents returned with their newborn daughter, and she was brought up in Nigeria in an affluent suburb of Lagos. After a series of military coups and economic downturns, her family, along with many other middle-class families in Nigeria saw their wealth decline and Kemi was sent to London to study for her A levels.Instead of following her parents into medicine, she chose to pursue Computer Systems Engineering and went to Sussex University. A well-paid career in IT followed and she joined the Conservative Party aged twenty-five where she also met her husband, Hamish. Her first attempt at becoming an MP was in 2010 in Dame Tessa Jowell's former constituency of Dulwich and West Norwood constituency in London. She finished third behind the Labour and Liberal Democrat candidates.In 2017, she was selected for the Saffron Walden seat and became an MP.She lives in London with her husband and three children and divides her time between Westminster and her constituency of North West Essex.DISC ONE: The Story of Tonight - Lin-Manuel Miranda, Okieriete Onaodowan, Daveed Diggs, Original Broadway Cast of Hamilton DISC TWO: Don't Stop 'Til You Get Enough - Michael Jackson DISC THREE: Wonderful World - Sam Cooke DISC FOUR: Be Still - Aled Jones and English Session Orchestra DISC FIVE: Everybody's Free (To Wear Sunscreen) - Baz Luhrmann DISC SIX: Love is All Around - Wet Wet Wet DISC SEVEN: Carry You Home – Alex Warren DISC EIGHT: Dear Theodosia - Leslie Odom Jr., Lin-Manuel Miranda BOOK CHOICE: Vanity Fair by William Makepeace Thackeray LUXURY ITEM: The Marvel Movie Collection with a solar-powered DVD player CASTAWAY'S FAVOURITE: Don't Stop 'Til You Get Enough - Michael Jackson Presenter: Lauren Laverne Producer: Sarah TaylorDesert Island Discs has cast many politicians away to the island over the years including Sir Keir Starmer, Nicola Sturgeon, Sir Vince Cable, Theresa May, Ed Miliband, Boris Johnson and Margaret Thatcher.

The UK's Prime Minister is hanging on for his career after a series of missteps has his own labor party almost in revolt. The current crisis was triggered by an ill-advised appointment of an ambassador to the US who is caught up in the Jeffrey Epstein mess. But that's not really the issue. Once again, a government that came to power not even two years ago finds voters who can't wait to throw it out of office.Eurodollar University's Money & Macro Analysis----------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider----------------------------------------------------------------------------------Starmer banks on economic growth to 'rebuild Britain'https://www.bbc.com/news/articles/clll8d2vd8yoWhy UK Prime Minister Rishi Sunak called an election he's expected to losehttps://www.cnn.com/2024/05/24/uk/prime-minister-rishi-sunak-election-intlUK Opinion Pollshttps://www.ipsos.com/en-uk/uk-opinion-pollsNew UK prime minister Rishi Sunak warns ‘difficult decisions to come'https://www.theguardian.com/politics/2022/oct/25/rishi-sunak-warns-difficult-decisions-to-come-as-he-assumes-officeUK General election 2024 Resultshttps://www.bbc.com/news/election/2024/uk/resultsHow unpopular is Britain's Labour government?https://www.economist.com/interactive/2025-british-politicsEurope's leaders are deeply unpopularhttps://www.axios.com/2026/02/10/europe-leadership-crisis-starmer-macron-merzhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

When Andy Burnham put forward his bid to stand in the Gorton & Denton by-election, the bond markets wobbled. What does this say about the state of Labour and their reputation with the markets? Michael Simmons speaks to former Treasury and Downing Street advisor James Nation about Labour leaders and fiscal policy, why Rishi Sunak was right on inflation and what he has learnt in the private sector since leaving the Treasury. Hosted on Acast. See acast.com/privacy for more information.

If Chinese hackers accessed the government's private messages, maybe they could share the missing 5,000 text messages the Covid inquiry was looking for.Will Dunn and Anoosh Chakelian discuss their stories of the week, including: Border breach of the week: China accused of hacking Boris Johnson, Rishi Sunak and Liz Truss aides.Lee Anderson can't find the right constituency to campaign in.Do the Fabians secretly run the world? (spoiler: no.)Planning objection of the week: Greens and Reform unite in an unlikely alliance to block new homes.SAVE £££ THIS CHRISTMAS:⭐️ Gift big ideas, bold politics, and proper journalism from just £2LISTEN AD-FREE:

Original Release Date: November 13, 2025Live from Morgan Stanley's European Tech, Media and Telecom Conference in Barcelona, our roundtable of analysts discusses tech disruptions and datacenter growth, and how Europe factors in.Read more insights from Morgan Stanley.----- Transcript -----Paul Walsh: Welcome to Thoughts on the Market. I'm Paul Walsh, Morgan Stanley's European Head of Research Product. Today we return to my conversation with Adam Wood. Head of European Technology and Payments, Emmet Kelly, Head of European Telco and Data Centers, and Lee Simpson, Head of European Technology. We were live on stage at Morgan Stanley's 25th TMT Europe conference. We had so much to discuss around the themes of AI enablers, semiconductors, and telcos. So, we are back with a concluding episode on tech disruption and data center investments. It's Thursday the 13th of November at 8am in Barcelona. After speaking with the panel about the U.S. being overweight AI enablers, and the pockets of opportunity in Europe, I wanted to ask them about AI disruption, which has been a key theme here in Europe. I started by asking Adam how he was thinking about this theme. Adam Wood: It's fascinating to see this year how we've gone in most of those sectors to how positive can GenAI be for these companies? How well are they going to monetize the opportunities? How much are they going to take advantage internally to take their own margins up? To flipping in the second half of the year, mainly to, how disruptive are they going to be? And how on earth are they going to fend off these challenges? Paul Walsh: And I think that speaks to the extent to which, as a theme, this has really, you know, built momentum. Adam Wood: Absolutely. And I mean, look, I think the first point, you know, that you made is absolutely correct – that it's very difficult to disprove this. It's going to take time for that to happen. It's impossible to do in the short term. I think the other issue is that what we've seen is – if we look at the revenues of some of the companies, you know, and huge investments going in there. And investors can clearly see the benefit of GenAI. And so investors are right to ask the question, well, where's the revenue for these businesses? You know, where are we seeing it in info services or in IT services, or in enterprise software. And the reality is today, you know, we're not seeing it. And it's hard for analysts to point to evidence that – well, no, here's the revenue base, here's the benefit that's coming through. And so, investors naturally flip to, well, if there's no benefit, then surely, we should focus on the risk. So, I think we totally understand, you know, why people are focused on the negative side of things today. I think there are differences between the sub-sectors. I mean, I think if we look, you know, at IT services, first of all, from an investor point of view, I think that's been pretty well placed in the losers' buckets and people are most concerned about that sub-sector… Paul Walsh: Something you and the global team have written a lot about. Adam Wood: Yeah, we've written about, you know, the risk of disruption in that space, the need for those companies to invest, and then the challenges they face. But I mean, if we just keep it very, very simplistic. If Gen AI is a technology that, you know, displaces labor to any extent – companies that have played labor arbitrage and provide labor for the last 20 - 25 years, you know, they're going to have to make changes to their business model. So, I think that's understandable. And they're going to have to demonstrate how they can change and invest and produce a business model that addresses those concerns. I'd probably put info services in the middle. But the challenge in that space is you have real identifiable companies that have emerged, that have a revenue base and that are challenging a subset of the products of those businesses. So again, it's perfectly understandable that investors would worry. In that context, it's not a potential threat on the horizon. It's a real threat that exists today against certainly their businesses. I think software is probably the most interesting. I'd put it in the kind of final bucket where I actually believe… Well, I think first of all, we certainly wouldn't take the view that there's no risk of disruption and things aren't going to change. Clearly that is going to be the case. I think what we'd want to do though is we'd want to continue to use frameworks that we've used historically to think about how software companies differentiate themselves, what the barriers to entry are. We don't think we need to throw all of those things away just because we have GenAI, this new set of capabilities. And I think investors will come back most easily to that space. Paul Walsh: Emmet, you talked a little bit there before about the fact that you haven't seen a huge amount of progress or additional insight from the telco space around AI; how AI is diffusing across the space. Do you get any discussions around disruption as it relates to telco space? Emmet Kelly: Very, very little. I think the biggest threat that telcos do see is – it is from the hyperscalers. So, if I look at and separate the B2C market out from the B2B, the telcos are still extremely dominant in the B2C space, clearly. But on the B2B space, the hyperscalers have come in on the cloud side, and if you look at their market share, they're very, very dominant in cloud – certainly from a wholesale perspective. So, if you look at the cloud market shares of the big three hyperscalers in Europe, this number is courtesy of my colleague George Webb. He said it's roughly 85 percent; that's how much they have of the cloud space today. The telcos, what they're doing is they're actually reselling the hyperscale service under the telco brand name. But we don't see much really in terms of the pure kind of AI disruption, but there are concerns definitely within the telco space that the hyperscalers might try and move from the B2B space into the B2C space at some stage. And whether it's through virtual networks, cloudified networks, to try and get into the B2C space that way. Paul Walsh: Understood. And Lee maybe less about disruption, but certainly adoption, some insights from your side around adoption across the tech hardware space? Lee Simpson: Sure. I think, you know, it's always seen that are enabling the AI move, but, but there is adoption inside semis companies as well, and I think I'd point to design flow. So, if you look at the design guys, they're embracing the agentic system thing really quickly and they're putting forward this capability of an agent engineer, so like a digital engineer. And it – I guess we've got to get this right. It is going to enable a faster time to market for the design flow on a chip. So, if you have that design flow time, that time to market. So, you're creating double the value there for the client. Do you share that 50-50 with them? So, the challenge is going to be exactly as Adam was saying, how do you monetize this stuff? So, this is kind of the struggle that we're seeing in adoption. Paul Walsh: And Emmet, let's move to you on data centers. I mean, there are just some incredible numbers that we've seen emerging, as it relates to the hyperscaler investment that we're seeing in building out the infrastructure. I know data centers is something that you have focused tremendously on in your research, bringing our global perspectives together. Obviously, Europe sits within that. And there is a market here in Europe that might be more challenged. But I'm interested to understand how you're thinking about framing the whole data center story? Implications for Europe. Do European companies feed off some of that U.S. hyperscaler CapEx? How should we be thinking about that through the European lens? Emmet Kelly: Yeah, absolutely. So, big question, Paul. What… Paul Walsh: We've got a few minutes! Emmet Kelly: We've got a few minutes. What I would say is there was a great paper that came out from Harvard just two weeks ago, and they were looking at the scale of data center investments in the United States. And clearly the U.S. economy is ticking along very, very nicely at the moment. But this Harvard paper concluded that if you take out data center investments, U.S. economic growth today is actually zero. Paul Walsh: Wow. Emmet Kelly: That is how big the data center investments are. And what we've said in our research very clearly is if you want to build a megawatt of data center capacity that's going to cost you roughly $35 million today. Let's put that number out there. 35 million. Roughly, I'd say 25… Well, 20 to 25 million of that goes into the chips. But what's really interesting is the other remaining $10 million per megawatt, and I like to call that the picks and shovels of data centers; and I'm very convinced there is no bubble in that area whatsoever.So, what's in that area? Firstly, the first building block of a data center is finding a powered land bank. And this is a big thing that private equity is doing at the moment. So, find some real estate that's close to a mass population that's got a good fiber connection. Probably needs a little bit of water, but most importantly needs some power. And the demand for that is still infinite at the moment. Then beyond that, you've got the construction angle and there's a very big shortage of labor today to build the shells of these data centers. Then the third layer is the likes of capital goods, and there are serious supply bottlenecks there as well.And I could go on and on, but roughly that first $10 million, there's no bubble there. I'm very, very sure of that. Paul Walsh: And we conducted some extensive survey work recently as part of your analysis into the global data center market. You've sort of touched on a few of the gating factors that the industry has to contend with. That survey work was done on the operators and the supply chain, as it relates to data center build out. What were the key conclusions from that? Emmet Kelly: Well, the key conclusion was there is a shortage of power for these data centers, and… Paul Walsh: Which I think… Which is a sort of known-known, to some extent. Emmet Kelly: it is a known-known, but it's not just about the availability of power, it's the availability of green power. And it's also the price of power is a very big factor as well because energy is roughly 40 to 45 percent of the operating cost of running a data center. So, it's very, very important. And of course, that's another area where Europe doesn't screen very well.I was looking at statistics just last week on the countries that have got the highest power prices in the world. And unsurprisingly, it came out as UK, Ireland, Germany, and that's three of our big five data center markets. But when I looked at our data center stats at the beginning of the year, to put a bit of context into where we are…Paul Walsh: In Europe… Emmet Kelly: In Europe versus the rest. So, at the end of [20]24, the U.S. data center market had 35 gigawatts of data center capacity. But that grew last year at a clip of 30 percent. China had a data center bank of roughly 22 gigawatts, but that had grown at a rate of just 10 percent. And that was because of the chip issue. And then Europe has capacity, or had capacity at the end of last year, roughly 7 to 8 gigawatts, and that had grown at a rate of 10 percent. Now, the reason for that is because the three big data center markets in Europe are called FLAP-D. So, it's Frankfurt, London, Amsterdam, Paris, and Dublin. We had to put an acronym on it. So, Flap-D. Good news. I'm sitting with the tech guys. They've got even more acronyms than I do, in their sector, so well done them. Lee Simpson: Nothing beats FLAP-D. Paul Walsh: Yes. Emmet Kelly: It's quite an achievement. But what is interesting is three of the big five markets in Europe are constrained. So, Frankfurt, post the Ukraine conflict. Ireland, because in Ireland, an incredible statistic is data centers are using 25 percent of the Irish power grid. Compared to a global average of 3 percent.Now I'm from Dublin, and data centers are running into conflict with industry, with housing estates. Data centers are using 45 percent of the Dublin grid, 45. So, there's a moratorium in building data centers there. And then Amsterdam has the classic semi moratorium space because it's a small country with a very high population. So, three of our five markets are constrained in Europe. What is interesting is it started with the former Prime Minister Rishi Sunak. The UK has made great strides at attracting data center money and AI capital into the UK and the current Prime Minister continues to do that. So, the UK has definitely gone; moved from the middle lane into the fast lane. And then Macron in France. He hosted an AI summit back in February and he attracted over a 100 billion euros of AI and data center commitments. Paul Walsh: And I think if we added up, as per the research that we published a few months ago, Europe's announced over 350 billion euros, in proposed investments around AI. Emmet Kelly: Yeah, absolutely. It's a good stat. Now where people can get a little bit cynical is they can say a couple of things. Firstly, it's now over a year since the Mario Draghi report came out. And what's changed since? Absolutely nothing, unfortunately. And secondly, when I look at powering AI, I like to compare Europe to what's happening in the United States. I mean, the U.S. is giving access to nuclear power to AI. It started with the three Mile Island… Paul Walsh: Yeah. The nuclear renaissance is… Emmet Kelly: Nuclear Renaissance is absolutely huge. Now, what's underappreciated is actually Europe has got a massive nuclear power bank. It's right up there. But unfortunately, we're decommissioning some of our nuclear power around Europe, so we're going the wrong way from that perspective. Whereas President Trump is opening up the nuclear power to AI tech companies and data centers. Then over in the States we also have gas and turbines. That's a very, very big growth area and we're not quite on top of that here in Europe. So, looking at this year, I have a feeling that the Americans will probably increase their data center capacity somewhere between – it's incredible – somewhere between 35 and 50 percent. And I think in Europe we're probably looking at something like 10 percent again. Paul Walsh: Okay. Understood. Emmet Kelly: So, we're growing in Europe, but we're way, way behind as a starting point. And it feels like the others are pulling away. The other big change I'd highlight is the Chinese are really going to accelerate their data center growth this year as well. They've got their act together and you'll see them heading probably towards 30 gigs of capacity by the end of next year. Paul Walsh: Alright, we're out of time. The TMT Edge is alive and kicking in Europe. I want to thank Emmett, Lee and Adam for their time and I just want to wish everybody a great day today. Thank you.(Applause) That was my conversation with Adam, Emmett and Lee. Many thanks again to them. Many thanks again to them for telling us about the latest in their areas of research and to the live audience for hearing us out. And a thanks to you as well for listening. Let us know what you think about this and other episodes by living us a review wherever you get your podcasts. And if you enjoy listening to Thoughts on the Market, please tell a friend or colleague about the podcast today.

Help us keep the conversations going in 2026. Donate to Conversations with Tyler today. Gaurav Kapadia has deliberately avoided publicity throughout his career in investing, which makes this conversation a rare window into how he thinks. He now runs XN, a firm built around concentrated bets on a small number of companies with long holding periods. However, his education in judgment began much earlier, in a two-family house in Flushing that his parents converted into a four-family house. It was there where a young Gaurav served as de facto landlord, collecting rent and negotiating late payments at age 10. That grounding now expresses itself across an unusual range of domains: Tyler invited him on the show not just as an investor, but as someone with a rare ability to judge quality in cities, talent, art, and more with equal fluency.  Tyler and Gaurav discuss how Queens has thrived without new infrastructure, what he'd change as "dictator" of Flushing, whether Robert Moses should rise or fall in status, who's the most underrated NYC mayor, what's needed to attract better mayoral candidates, the weirdest place in NYC, why he initially turned down opportunities in investment banking for consulting, bonding with Rishi Sunak over railroads, XN's investment philosophy, maintaining founder energy in investment firms and how he hires to prevent complacency, AI's impact on investing, the differences between New York and London finance, the most common fundraising mistake art museums make, why he collects only American artists within 20 years of his own age, what makes Kara Walker and Rashid Johnson and Salman Toor special, whether buying art makes you a better investor, his new magazine Totei celebrating craft and craftsmanship, and much more. Read a full transcript enhanced with helpful links, or watch the full video on the new dedicated Conversations with Tyler channel. Recorded October 8th, 2025. Other ways to connect Follow us on X and Instagram Follow Tyler on X Follow Gaurav on X Sign up for our newsletter Join our Discord Email us: cowenconvos@mercatus.gmu.edu Learn more about Conversations with Tyler and other Mercatus Center podcasts here. Timestamps 00:00:00 - Intro 00:01:32 - Queens and NYC's geography 00:08:36 - New York City mayors and electoral politics 00:13:22 - Building a career in investing 00:18:50 - XN's investment philosophy 00:24:35 - Maintaining founder energy in investment firms 00:30:45 - The sociology of finance in NYC, London, and UAE  00:32:21 - How AI is reshaping investing 00:36:53 - Museum operations 00:42:21 - Favorite artists 00:50:39 - Tastes in art and how the canon will evolve 00:57:22 - Totei, a new venture

The politics of migration have driven some of the most consequential changes in Britain's recent history and look set to dominate the next general election. Since the end of Rishi Sunak's government, the crossings of ‘small boats' over the English Channel and the use of ‘asylum hotels' have become a focal point for protest, violence and escalating rhetoric, leading most recently to significant changes in the migration system proposed by the home secretary, Shabana Mahmood. To assess these changes and explain how Britain's asylum system works, James is joined by Colin Yeo, a barrister and author of Welcome to Britain: Fixing Our Broken Immigration System, and Nicola Kelly, a former Home Office civil servant and author of Anywhere But Here: How Britain's Broken Asylum System Fails Us All. Read more on politics in the LRB: ⁠https://lrb.me/lrbpolitics⁠ From the LRB Subscribe to the LRB: ⁠⁠https://lrb.me/subslrbpod Close Readings podcast: ⁠https://lrb.me/crlrbpod⁠ LRB Audiobooks: ⁠https://lrb.me/audiobookslrbpod⁠ Bags, binders and more at the LRB Store: ⁠https://lrb.me/storelrbpod⁠ Get in touch: podcasts@lrb.co.uk

James Nation, managing director at Forefront Advisers, and Michael Simmons join James Heale to analyse what we know, one day ahead of the Budget. James – a former Treasury official and adviser to Rishi Sunak – takes us inside Number 11, explains the importance of every sentence and defends the Budget as a fiscal event. Plus, Michael takes us through the measures we know so far – but is the chaotic process we've seen so far just symptomatic of 'broken Britain'?Produced by Patrick Gibbons.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: podcast@spectator.co.uk Hosted on Acast. See acast.com/privacy for more information.

Live from Morgan Stanley's European Tech, Media and Telecom Conference in Barcelona, our roundtable of analysts discusses tech disruptions and datacenter growth, and how Europe factors in.Read more insights from Morgan Stanley.----- Transcript -----Paul Walsh: Welcome to Thoughts on the Market. I'm Paul Walsh, Morgan Stanley's European Head of Research Product. Today we return to my conversation with Adam Wood. Head of European Technology and Payments, Emmet Kelly, Head of European Telco and Data Centers, and Lee Simpson, Head of European Technology. We were live on stage at Morgan Stanley's 25th TMT Europe conference. We had so much to discuss around the themes of AI enablers, semiconductors, and telcos. So, we are back with a concluding episode on tech disruption and data center investments. It's Thursday the 13th of November at 8am in Barcelona. After speaking with the panel about the U.S. being overweight AI enablers, and the pockets of opportunity in Europe, I wanted to ask them about AI disruption, which has been a key theme here in Europe. I started by asking Adam how he was thinking about this theme. Adam Wood: It's fascinating to see this year how we've gone in most of those sectors to how positive can GenAI be for these companies? How well are they going to monetize the opportunities? How much are they going to take advantage internally to take their own margins up? To flipping in the second half of the year, mainly to, how disruptive are they going to be? And how on earth are they going to fend off these challenges? Paul Walsh: And I think that speaks to the extent to which, as a theme, this has really, you know, built momentum. Adam Wood: Absolutely. And I mean, look, I think the first point, you know, that you made is absolutely correct – that it's very difficult to disprove this. It's going to take time for that to happen. It's impossible to do in the short term. I think the other issue is that what we've seen is – if we look at the revenues of some of the companies, you know, and huge investments going in there. And investors can clearly see the benefit of GenAI. And so investors are right to ask the question, well, where's the revenue for these businesses? You know, where are we seeing it in info services or in IT services, or in enterprise software. And the reality is today, you know, we're not seeing it. And it's hard for analysts to point to evidence that – well, no, here's the revenue base, here's the benefit that's coming through. And so, investors naturally flip to, well, if there's no benefit, then surely, we should focus on the risk. So, I think we totally understand, you know, why people are focused on the negative side of things today. I think there are differences between the sub-sectors. I mean, I think if we look, you know, at IT services, first of all, from an investor point of view, I think that's been pretty well placed in the losers' buckets and people are most concerned about that sub-sector… Paul Walsh: Something you and the global team have written a lot about. Adam Wood: Yeah, we've written about, you know, the risk of disruption in that space, the need for those companies to invest, and then the challenges they face. But I mean, if we just keep it very, very simplistic. If Gen AI is a technology that, you know, displaces labor to any extent – companies that have played labor arbitrage and provide labor for the last 20 - 25 years, you know, they're going to have to make changes to their business model. So, I think that's understandable. And they're going to have to demonstrate how they can change and invest and produce a business model that addresses those concerns. I'd probably put info services in the middle. But the challenge in that space is you have real identifiable companies that have emerged, that have a revenue base and that are challenging a subset of the products of those businesses. So again, it's perfectly understandable that investors would worry. In that context, it's not a potential threat on the horizon. It's a real threat that exists today against certainly their businesses. I think software is probably the most interesting. I'd put it in the kind of final bucket where I actually believe… Well, I think first of all, we certainly wouldn't take the view that there's no risk of disruption and things aren't going to change. Clearly that is going to be the case. I think what we'd want to do though is we'd want to continue to use frameworks that we've used historically to think about how software companies differentiate themselves, what the barriers to entry are. We don't think we need to throw all of those things away just because we have GenAI, this new set of capabilities. And I think investors will come back most easily to that space. Paul Walsh: Emett, you talked a little bit there before about the fact that you haven't seen a huge amount of progress or additional insight from the telco space around AI; how AI is diffusing across the space. Do you get any discussions around disruption as it relates to telco space? Emmet Kelly: Very, very little. I think the biggest threat that telcos do see is – it is from the hyperscalers. So, if I look at and separate the B2C market out from the B2B, the telcos are still extremely dominant in the B2C space, clearly. But on the B2B space, the hyperscalers have come in on the cloud side, and if you look at their market share, they're very, very dominant in cloud – certainly from a wholesale perspective. So, if you look at the cloud market shares of the big three hyperscalers in Europe, this number is courtesy of my colleague George Webb. He said it's roughly 85 percent; that's how much they have of the cloud space today. The telcos, what they're doing is they're actually reselling the hyperscale service under the telco brand name. But we don't see much really in terms of the pure kind of AI disruption, but there are concerns definitely within the telco space that the hyperscalers might try and move from the B2B space into the B2C space at some stage. And whether it's through virtual networks, cloudified networks, to try and get into the B2C space that way. Paul Walsh: Understood. And Lee maybe less about disruption, but certainly adoption, some insights from your side around adoption across the tech hardware space? Lee Simpson: Sure. I think, you know, it's always seen that are enabling the AI move, but, but there is adoption inside semis companies as well, and I think I'd point to design flow. So, if you look at the design guys, they're embracing the agentic system thing really quickly and they're putting forward this capability of an agent engineer, so like a digital engineer. And it – I guess we've got to get this right. It is going to enable a faster time to market for the design flow on a chip. So, if you have that design flow time, that time to market. So, you're creating double the value there for the client. Do you share that 50-50 with them? So, the challenge is going to be exactly as Adam was saying, how do you monetize this stuff? So, this is kind of the struggle that we're seeing in adoption. Paul Walsh: And Emmett, let's move to you on data centers. I mean, there are just some incredible numbers that we've seen emerging, as it relates to the hyperscaler investment that we're seeing in building out the infrastructure. I know data centers is something that you have focused tremendously on in your research, bringing our global perspectives together. Obviously, Europe sits within that. And there is a market here in Europe that might be more challenged. But I'm interested to understand how you're thinking about framing the whole data center story? Implications for Europe. Do European companies feed off some of that U.S. hyperscaler CapEx? How should we be thinking about that through the European lens? Emmet Kelly: Yeah, absolutely. So, big question, Paul. What… Paul Walsh: We've got a few minutes! Emmet Kelly: We've got a few minutes. What I would say is there was a great paper that came out from Harvard just two weeks ago, and they were looking at the scale of data center investments in the United States. And clearly the U.S. economy is ticking along very, very nicely at the moment. But this Harvard paper concluded that if you take out data center investments, U.S. economic growth today is actually zero. Paul Walsh: Wow. Emmet Kelly: That is how big the data center investments are. And what we've said in our research very clearly is if you want to build a megawatt of data center capacity that's going to cost you roughly $35 million today. Let's put that number out there. 35 million. Roughly, I'd say 25… Well, 20 to 25 million of that goes into the chips. But what's really interesting is the other remaining $10 million per megawatt, and I like to call that the picks and shovels of data centers; and I'm very convinced there is no bubble in that area whatsoever.So, what's in that area? Firstly, the first building block of a data center is finding a powered land bank. And this is a big thing that private equity is doing at the moment. So, find some real estate that's close to a mass population that's got a good fiber connection. Probably needs a little bit of water, but most importantly needs some power. And the demand for that is still infinite at the moment. Then beyond that, you've got the construction angle and there's a very big shortage of labor today to build the shells of these data centers. Then the third layer is the likes of capital goods, and there are serious supply bottlenecks there as well.And I could go on and on, but roughly that first $10 million, there's no bubble there. I'm very, very sure of that. Paul Walsh: And we conducted some extensive survey work recently as part of your analysis into the global data center market. You've sort of touched on a few of the gating factors that the industry has to contend with. That survey work was done on the operators and the supply chain, as it relates to data center build out. What were the key conclusions from that? Emmet Kelly: Well, the key conclusion was there is a shortage of power for these data centers, and… Paul Walsh: Which I think… Which is a sort of known-known, to some extent. Emmet Kelly: it is a known-known, but it's not just about the availability of power, it's the availability of green power. And it's also the price of power is a very big factor as well because energy is roughly 40 to 45 percent of the operating cost of running a data center. So, it's very, very important. And of course, that's another area where Europe doesn't screen very well.I was looking at statistics just last week on the countries that have got the highest power prices in the world. And unsurprisingly, it came out as UK, Ireland, Germany, and that's three of our big five data center markets. But when I looked at our data center stats at the beginning of the year, to put a bit of context into where we are…Paul Walsh: In Europe… Emmet Kelly: In Europe versus the rest. So, at the end of [20]24, the U.S. data center market had 35 gigawatts of data center capacity. But that grew last year at a clip of 30 percent. China had a data center bank of roughly 22 gigawatts, but that had grown at a rate of just 10 percent. And that was because of the chip issue. And then Europe has capacity, or had capacity at the end of last year, roughly 7 to 8 gigawatts, and that had grown at a rate of 10 percent. Now, the reason for that is because the three big data center markets in Europe are called FLAP-D. So, it's Frankfurt, London, Amsterdam, Paris, and Dublin. We had to put an acronym on it. So, Flap-D. Good news. I'm sitting with the tech guys. They've got even more acronyms than I do, in their sector, so well done them. Lee Simpson: Nothing beats FLAP-D. Paul Walsh: Yes. Emmet Kelly: It's quite an achievement. But what is interesting is three of the big five markets in Europe are constrained. So, Frankfurt, post the Ukraine conflict. Ireland, because in Ireland, an incredible statistic is data centers are using 25 percent of the Irish power grid. Compared to a global average of 3 percent.Now I'm from Dublin, and data centers are running into conflict with industry, with housing estates. Data centers are using 45 percent of the Dublin grid, 45. So, there's a moratorium in building data centers there. And then Amsterdam has the classic semi moratorium space because it's a small country with a very high population. So, three of our five markets are constrained in Europe. What is interesting is it started with the former Prime Minister Rishi Sunak. The UK has made great strides at attracting data center money and AI capital into the UK and the current Prime Minister continues to do that. So, the UK has definitely gone; moved from the middle lane into the fast lane. And then Macron in France. He hosted an AI summit back in February and he attracted over a 100 billion euros of AI and data center commitments. Paul Walsh: And I think if we added up, as per the research that we published a few months ago, Europe's announced over 350 billion euros, in proposed investments around AI. Emmet Kelly: Yeah, absolutely. It's a good stat. Now where people can get a little bit cynical is they can say a couple of things. Firstly, it's now over a year since the Mario Draghi report came out. And what's changed since? Absolutely nothing, unfortunately. And secondly, when I look at powering AI, I like to compare Europe to what's happening in the United States. I mean, the U.S. is giving access to nuclear power to AI. It started with the three Mile Island… Paul Walsh: Yeah. The nuclear renaissance is… Emmet Kelly: Nuclear Renaissance is absolutely huge. Now, what's underappreciated is actually Europe has got a massive nuclear power bank. It's right up there. But unfortunately, we're decommissioning some of our nuclear power around Europe, so we're going the wrong way from that perspective. Whereas President Trump is opening up the nuclear power to AI tech companies and data centers. Then over in the States we also have gas and turbines. That's a very, very big growth area and we're not quite on top of that here in Europe. So, looking at this year, I have a feeling that the Americans will probably increase their data center capacity somewhere between – it's incredible – somewhere between 35 and 50 percent. And I think in Europe we're probably looking at something like 10 percent again. Paul Walsh: Okay. Understood. Emmet Kelly: So, we're growing in Europe, but we're way, way behind as a starting point. And it feels like the others are pulling away. The other big change I'd highlight is the Chinese are really going to accelerate their data center growth this year as well. They've got their act together and you'll see them heading probably towards 30 gigs of capacity by the end of next year. Paul Walsh: Alright, we're out of time. The TMT Edge is alive and kicking in Europe. I want to thank Emmett, Lee and Adam for their time and I just want to wish everybody a great day today. Thank you.(Applause) That was my conversation with Adam, Emmett and Lee. Many thanks again to them. Many thanks again to them for telling us about the latest in their areas of research and to the live audience for hearing us out. And a thanks to you as well for listening. Let us know what you think about this and other episodes by living us a review wherever you get your podcasts. And if you enjoy listening to Thoughts on the Market, please tell a friend or colleague about the podcast today.

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