Are the economic problems we’re facing today really new or are we repeating mistakes we’ve made before?
In this episode of The Pulse of Power, I’m joined by Sir John Redwood, former Conservative MP, Cabinet Minister, and Head of Margaret Thatcher’s Policy Unit. We take a wide-ranging look at the state of the British economy, drawing direct parallels between today and the turbulence of the 1970s: high inflation, rising unemployment, weak productivity, and a crisis of confidence in government.
Together, we reflect on what it meant to prepare for government from opposition, how economic credibility is built (and lost), and which lessons from the past still apply as the UK faces another period of strain and uncertainty.
What We Explore
- Economic Lessons from the Past: We reflect on the parallels between today’s challenges and the 1970s, asking what preparation, clarity and policy discipline made possible then and what’s missing now.
- Markets, the State and Unintended Consequences: We examine where privatisation, regulation and central banking have worked, where they’ve failed, and how decisions around money, energy and public services can create long-term costs.
- Choices, Not Inevitabilities: We challenge the idea that current outcomes are unavoidable, exploring how political and economic choices around tax, energy, debt and growth shape confidence, productivity and national direction.
As we close, one message comes through clearly: economic outcomes are the result of choices, not inevitabilities. From spending and borrowing to energy, regulation and taxation, the decisions governments make shape confidence, productivity and growth - often long before voters feel the consequences.
If there’s a lesson from history, it’s that credibility, preparation and clarity matter and that ignoring economic reality rarely ends well.
The Pulse of Power is produced by Urban Podcasts.