David Miles

Peter Levell, IFS inflation analyst, explains how inflation is measured and who loses out. David Miles, former Bank of England MPC member, outlines why central banks aim for 2% and the trade-offs of rate hikes. They discuss recent shocks that pushed prices up, unequal impacts across households, and the risks that could push inflation back up.

Tim Shipman talks with David Miles, a Professor of Economics at Imperial College London and OBR committee member. They dive into the recent Budget leak and what it means for the UK's growth and productivity forecasts, revealing why conditions appear bleaker than expected. David clarifies the implications of delayed tax rises and explores why the UK struggles to adopt its own innovations. They also discuss the political motivations behind fiscal choices and the OBR’s approach to scoring proposed reforms amidst uncertainty.

Michael Gove, a seasoned politician, shares his insights alongside David Miles from the Office for Budget Responsibility. They delve into Rachel Reeves' recent budget announcement, dissecting the £15 billion in spending cuts and its political ramifications. The discussion highlights the bleak growth forecasts and the impact of welfare reforms. They tackle the moral dilemmas surrounding welfare cuts and the government's heavy reliance on the OBR, raising questions about who truly runs the country and how Labour can drive economic growth.