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Alastair Irvine

Alastair Irvine

Investment Director on the Jupiter Merlin Portfolios team at Jupiter Asset Management, and a macroeconomics and geopolitics commentator.

Sep 8, 2026

26:39
Um, could defense bonds be the way in which the government goes about raising the money needed to do it? Because it's gonna be struggling to find the money from increasing taxation.
26:54
So the, the, the starting point in this, Alj, is that defense and law and order are the only two things that the government has an absolute duty to provide, to guarantee.
27:08
Everything else, there is a choice to be made, whether it's to do with education, whether it's to do with health, whether it's to do with welfare, whether it's to do with transport.
27:16
Whatever it is, everything else is about a political choice.
27:21
Uh, there are many means by which you can, you can do these, these other activities that are part of the function of the state, and it depends entirely on, on, uh, how much you want the s- the state to intervene in that, and therefore who pays for it.
27:38
At the moment, as I described earlier on, we're, we're overtaxed and we're over-indebted.
27:44
The tax burden is already the highest outside wartime.

7 MINS LATER

34:49
Right.

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