Oct 26, 2026 · 47 min · 10 segments
He worked on 20 Budgets for six Chancellors. On the eve of the new government's first, Lord Burns tells David Davis and Guto Harri what it really takes, and what has to happen next. In this episode…
Terry BurnsGuest
Guto HarriHost
David DavisHost
You've lived through so many crises in the economy of the country and huge transformations in the economy of the country.
Doesn't that drive this, the latest crisis or the imminent crisis, whether it's the RM or whether it's Black Wednesday or
what? As far as I'm concerned, the dominant issue of this is the level of debt relative to GDP and the question of how we can get into a position where we can begin to get that to move downwards in
So what do you think in terms of the leeway or the headroom or whatever you call it about this budget? normal? Have you
The problem is that obviously the government says that it wants to get the ratio of debt down into the future.
But of course, it's always towards the end years of the programme that it appears to be coming down and as you move forward each year you then begin to face up to the reality that you said that by now it would be starting to come down.
So we've still got a year or two in hand but Today, high in his mind, I expect, is how is this beginning to position itself for the next election? Do we have a story that we're going to be able to...
First of all, we want to keep stability in the short term, but how do we have a story that demonstrates that we can begin to get this to move in the right direction? without having so much pressure upon taxes that you end up with a very difficult political.
You've lived through so many crises in the economy of the country and huge transformations in the economy of the country.
Doesn't that drive this, the latest crisis or the imminent crisis, whether it's the RM or whether it's Black Wednesday or
what? As far as I'm concerned, the dominant issue of this is the level of debt relative to GDP and the question of how we can get into a position where we can begin to get that to move downwards in
So what do you think in terms of the leeway or the headroom or whatever you call it about this budget? normal? Have you
The problem is that obviously the government says that it wants to get the ratio of debt down into the future.
But of course, it's always towards the end years of the programme that it appears to be coming down and as you move forward each year you then begin to face up to the reality that you said that by now it would be starting to come down.
So we've still got a year or two in hand but Today, high in his mind, I expect, is how is this beginning to position itself for the next election? Do we have a story that we're going to be able to...
First of all, we want to keep stability in the short term, but how do we have a story that demonstrates that we can begin to get this to move in the right direction? without having so much pressure upon taxes that you end up with a very difficult political.
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