Economic stability

Well, I think the reality is that we inherited a situation where we needed to fix the public finances.

And that was important to give economic stability, but also to put public services in a better position.

Now, the IMF and other commentators have pointed to the fact that our deficit is coming down and that it's where... sticking to our fiscal rules, which the Chancellor has said, for him, are fundamental to our economic security.

On the back of that foundation, on the back of having economic security and meeting those fiscal rules, we can then invest in what we need to get the economy growing.

This from Louise in Lanarkshire.

Shots in Lanarkshire.

If Rachel Reeves bought Economic Stability, why is the national debt now over £3 trillion and the government's still asking for more money through borrowing and even higher taxes? Mike in Claverdon.

What's your story? Do you run a business, Mike?

But in economic sciences in memory of Alfred Nobel, 2026 went to Robert E.

Hall and Michael Woodford, uh, for microeconomic foundations of macroeconomic stabilization.

Those who listen a lot know we're not as much macro guys.

Uh-

When the population relies 100% on digital channels, any loss of public confidence in the banking system can spark an instant, viral digital run on banks, where capital moves out of local institutions at light speed before regulators can intervene.

The Threat to Economic Stability The contradiction at the heart of China's economy is now glaring.

On one side, the state is legally requiring local shopkeepers to accept paper bills.

On the other, the real underground economy, the massive, sophisticated engine moving wealth out of China, operates entirely through digital networks that bypass the physical banking system altogether.

This dynamic threatens China's economic stability in several ways.

For instance, the high demand for foreign currencies in the Feixian channels puts downward pressure on the yuan in China itself.

That widens the gap between the highly managed onshore rate and the offshore international rate.