On Politics: Do bond markets and the Bank of England run Britain?

On Politics: Do bond markets and the Bank of England run Britain?

Author: The London Review of Books October 29, 2025 Duration: 1:05:30
Andy Burnham recently said that the government is ‘in hock to the bond markets’, and the political turbulence of the past few years, not least the downfall of Liz Truss following her ‘mini-budget’, would seem to back this up. But the bond markets are only part of the picture: the actions of the Bank of England and the fiscal rules a government sets for itself also play significant roles in the decisions a chancellor can make. In this episode James is joined by former Bank of England chief economist Andy Haldane and Daniela Gabor, professor of economics at SOAS, to consider why governments are so afraid of ‘bond vigilantes’ and the increasing influence of central banks on policy since the financial crisis of 2008. Should the Bank of England remain independent? And what room for manoeuvre does Rachel Reeves have in her budget next month? Read more on politics in the LRB: ⁠https://lrb.me/lrbpolitics⁠ From the LRB Subscribe to the LRB: ⁠⁠https://lrb.me/subslrbpod Close Readings podcast: ⁠https://lrb.me/crlrbpod⁠ LRB Audiobooks: ⁠https://lrb.me/audiobookslrbpod⁠ Bags, binders and more at the LRB Store: ⁠https://lrb.me/storelrbpod⁠ Get in touch: podcasts@lrb.co.uk

Each week, The LRB Podcast extends the long-form, inquisitive spirit of the London Review of Books into a conversational format. Hosts Thomas Jones and Malin Hay guide discussions that delve into the essays and ideas animating Europe’s leading magazine of culture and ideas, creating a space where complex thoughts on society, art, history, and literature are explored with depth and clarity. The rhythm of the podcast includes a dedicated fortnightly episode, ‘On Politics,’ hosted by James Butler, which sharpens the focus on the political forces and theories shaping our current moment. Listening feels like joining a nuanced, ongoing conversation where arguments are carefully constructed and perspectives are challenged. It’s a natural companion for anyone who believes that understanding the world requires patience, critical thinking, and engaging dialogue. The podcast doesn’t offer quick takes but rather thoughtful excavations of the week’s most compelling cultural and intellectual questions, mirroring the publication’s commitment to serious and elegant prose. This is where written criticism finds its voice, allowing listeners to immerse themselves in the debates that define our time.
Author: Language: English Episodes: 101

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