Economist Podcasts Judgment day: Jimmy Lai convicted
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Dec 15, 2025 
Journalist Alice Su discusses the recent conviction of Hong Kong media mogul Jimmy Lai, highlighting the chilling effects of national security laws on civil liberties. Joel Budd analyzes how Labour government's policies are straining London's finances, warning of higher taxes and reduced services. He questions London’s perception as privileged and the impact of immigration on its economy. Alex Hearn provides insights into hangovers, explaining their physiological causes and debunking common cures, emphasizing that hydration and time are key.
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Funding Formula Cuts Hurt Borough Budgets
- The Labour government changed the funding formula for local governments, which will cut central funds to London boroughs.
- Reduced central transfers will force boroughs to tighten services or raise local taxes.
Immigration Shifts Make London Less Viable
- Immigration policy changes risk reducing London's population growth that depends on migrants.
- That, plus cuts, will make living in London costlier and less attractive to many residents.
Expect Higher Council Taxes In London
- Reduced central funding will likely lead to higher council tax in London as boroughs seek revenue.
- Joel Budd warns households should expect a noticeable tax rise to cover services.