In this Institute of Economic Affairs podcast, Callum Price is joined by Managing Editor Daniel Freeman and Senior Economist Dr Valentin Boboc to discuss three of the week's biggest policy stories. The conversation opens with Tony Blair's 5,000-word essay on what the Government is getting wrong, examining his ten-point plan for what he calls "radical centrism" and how much of it lines up with longstanding IEA positions on planning, energy and business regulation.

The second topic is the rise in NEETs above one million for the first time, with the panel looking at the figures behind the headline. Hospitality vacancies down 50%, apprenticeships down 35%, and PIP recipients set to double again by 2031. The discussion covers how a combination of employer national insurance rises, minimum wage increases and the Employment Rights Act has made it significantly more expensive to hire young people in the exact sectors where they typically find work, and why the Government's response of youth hubs and apprenticeship levies has done little to address the underlying problem.

The final segment turns to Reform's new tax cut pledge, scrapping income tax on hours worked above 40 per week for those earning under £75,000. Daniel Freeman sets out in detail why the policy is poorly designed, from its exclusion of the self-employed and those with second jobs, to the cliff edge it creates at the £75,000 threshold and how straightforwardly it could be gamed by employers restructuring pay.

The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.

The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff.

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