Professor Tim Evans of Middlesex University rounds off 2025 with his countdown of the 10 most significant issues. 10: Trade frictions and international relations are moving away from blockification and becoming messier. 9: Net Zero is on the wane and nuclear power is on the rise. Hydrocarbons could be around for longer than expected. 8: Productivity problems in Britain continue to bedevil the economy. 7: The lack of success in welfare reform, with inflation continuing to exacerbate poverty. 6: The housing crisis and the rise in homelessness. Red tape and bureaucracy continue to hold housebuilding back. 5: Fiscal strategy and stealth taxes. The policy of borrowing now and paying later is very dicey. 4: The NHS. It still in crisis, despite tens of billions of pounds poured in. 3: The cost of living crisis. Inflation is a hidden tax and most people have not seen their wages increase significantly for 20 years. 2: Immigration, which is fuelling anxiety and division, not just in Britain but throughout Europe. 1: Stagnating economic growth. We could now be in a recession. People are down and depressed and expect things to get worse. The Government is injecting misery and pessimism without understanding the consequence of their actions. Learn more about your ad choices. Visit podcastchoices.com/adchoices

In seasonal spirit after what has felt like an exhausting political year, Mike Indian looks at the Three Unwise Men: Starmer; Trump; and Farage. Not since Attlee has a Labour PM had such internal difficulties and such a short honeymoon. His achievements have been drowned out by U-turns, defeats and gaffes. Labour are expected to do poorly in the May elections. Starmer is resilient and ruthless, but can he recover his authority? The unwisest man is surely Donald Trump. Eccentric and sometimes delusional, there has rarely been a more chaotic period in recent American history. His actions have a massive effect around the world. His health is now in question and it’s unlikely that he will go gracefully when is term is up. Of the three, Farage has had the best year. With just 5 MPs, Reform is polling above 30%. But the Russian links are insidious and it is still too early to predict the next election. We need to see real policies, not empty slogans. The next election will be the most pluralistic since 1923. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Professor Tim Evans adds his voice to those opposing the restriction to trial by jury. It is an ancient right to be judged by one's peers, a democratic safeguard of liberty against an overbearing state. He feels it will lead to a loss of public confidence and democratic illegitimacy of the legal system. Without the rule of law, you don't have trust and without trust you don't have an economy. The government need to find other ways to reduce the legal backlog. While the Chancellor and her advisers appear not to have worked out exactly how EV users will be charged per mile they drive, Tim wonders if she realises that the idea is a darling of the libertarian right, proposed by Milton Friedman back in the early 1950s. It is, in essence, returning to the Georgian era of turnpikes. He feels, though, that it will create an incentive to keep roads in a good state. The era of all roads being "The King's Highway" can no longer be afforded. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Political commentator Mike Indian says that Reeves had to satisfy both Labour MPs and the bond markets and, in doing so, has proven herself a better political operator than given credit for. But the tussle with the OBR is unfortunate. Mike feels its forecast horizon is too distant, though it must offer a robust challenge to government. "Calamity" Lammy's move to Justice has been nothing short of a disaster, topped by changing Levinson's recommendations on trial by jury. Mike doesn't think he will survive the year. And he finds the timing of the racist accusations against the schoolboy Farage suspect, smacking of cynical media opportunism. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Professor Tim Evans of Middlesex University thinks that Rachel Reeves' highly-political Budget could have bought her and the Prime Minister some time, calmed the markets and even reunited the Labour Party. But what will be the unintended consequences? There will be a lot of deferred pain through tax rises. It could create weaker productivity, risk a two-speed economy, dampen consumer spending and investment, persuade more wealthy and talented people to emigrate, depressing tax revenue and it may yet prove inflationary. It will take some time before we get a clearer idea what the consequences will be. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Political commentator Mike Indian says that Shabana Mahmood gave a very punchy performance announcing her asylum reforms, modelled on Denmark's policy. It's a bold attempt to win back votes from Reform: it will please some, yet alienate others. Mike is aghast at the degree of pitch-rolling ahead of the Budget, with a manifesto-busting increase in income tax floated, then abandoned. Reeves would have been better to have taken the unpopular decision, rather than proceed piecemeal, as seems likely. He considers if the pair will survive past the May local elections. They may be unpopular, but he doesn't feel there is a credible alternative. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Professor Tim Evans of Middlesex University says that Labour is now seeing as much rancour as the last Tory administration. The briefings against Wes Streeting appear to have increased the focus on the party's leadership. But could a more capable, charismatic leader fix the systemic crisis in a Britain where nothing seems to work when no politician is even discussing it? The crisis at the Office for National Statistics is crucial, as the Bank of England and OBR rely on it to base their decisions. Poor data undermines the fabric of our society. Tim notes that US financial services in several places are growing faster than New York, particularly in Dallas. Could New York be about to kill the golden goose? Learn more about your ad choices. Visit podcastchoices.com/adchoices

Political commentator Mike Indian says that the Chancellor's pre-Budget speech is clearly setting us up for tax rises. Labour's biggest mistake was promising not to increase income tax, VAT or National Insurance. With taxes at a high but the British state so sclerotic, people are entitled to ask, "Where is my money going?" Mike found it interesting that at the very moment when it looked as if the Chancellor might have to go over her rental income problems, that was when the Palace chose to strip Andrew Mountbatten Windsor of his titles. It was a miscalculation for it didn't bury the story. But is it appropriate for the Royals to sort this out on their own? Mike believes not. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Professor Tim Evans of Middlesex University says getting serious medical treatment abroad has doubled in three years to half a million a year. Private health care hjere grows by 8-10% a year yet NHS waiting lists are still rising. Those now paying twice for healthcare may favour massive change in the NHS. Milei's unexpected mid-term win in Argentina is a huge win for free-marketeers and libertarians and may set a framework for governments wanting to turn their economies around. And with Budget talk of further tax increases, Tim discusses how moving to the United States could cut Britons' tax bills in half. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Tim Price of Price Value Partners (Citywire's #1 fund YTD & over 12 months) feels that the performance of gold this year is less a gold story than a currency one. Freezing Russia's reserves torpedoed the US's funding powers when it has $38tn debt to fund. Since then, central banks have been disinvesting US debt in favour of gold bullion. The fiat currency jig is up. We know what a kilogram is, but no longer what a dollar is. Tim also discusses the malign effect of over-regulation, a fantastic book by Dominic Frisby about gold, how investors can tell when gold and silver have gone high enough and why you should not put your faith in debt and cash. Learn more about your ad choices. Visit podcastchoices.com/adchoices

With the marking of Margaret Thatcher's 100th birthday, Professor Tim Evans of Middlesex University says that many political experts now rate her even more highly than Churchill, a less successful peacetime Prime Minister. As the IMF warns about the UK's debt, growth and inflation, Labour's inability to cut profligate spending is taking the country to the edge while talk of higher taxes in the Budget is undermining confidence. It feels like all that has changed is the colour of the PM's tie. And, tongue firmly in his cheek, he wonders – with the French Fifth Republic in turmoil – whether what the country really needs is a constitutional monarchy. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Political commentator Mike Indian discusses the 2nd anniversary of October 7th and the prospect of a ceasefire in Gaza, which would be a coup for Donald Trump. It's not an end to the war but a significant step on a long road ahead. Protestors at home are self-indulgent and should read the room. Having been to Labour and Tory party conferences, both leaders have emerged in a stronger position, while Andy Burnham misjudged things. Starmer set out his vision and he and Reeves are now the only game in town. Despite Badenoch banking on the long game, Mike feels she will be supplanted by James Cleverly before the next election. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Professor Tim Evans of Middlesex University looks at the party conference season. The Labour event was particularly bizarre. Amplifying the Reform message showed they are in serious trouble and indeed the latest polls show Reform at 35%, their highest yet. The public is at the end of its tether with the major parties and isn't buying the change in Labour or Tory rhetoric. Tim expects a wave of Tory defections to coincide with May's elections. Although no sports fan, he finds it sad that the BBC no longer has exclusive rights to any of the sporting events that are part of the fabric of the nation. The Corporation is spread too thinly and floundering and should have the confidence to make itself financially sustainable. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Political commentator Mike indian thinks that it would be a big mistake for Andy Burnham to challenge Keir Starmer's leadership of Labour. He can't see what Burnham would bring to the table and feels it would be opportunistic in-fighting. He finds the American administration's criticism regarding free speech in the UK highly hypocritical. And he reckons Trump's speech at the UN is akin to a man standing on a street corner with a cardboard sign, someone we'd normally ignore. Trump is a danger to the modern world and we risk forgetting why we have become the societies we are. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Professor Tim Evans of Middlesex University believes that the defection of the talented Danny Kruger to Reform has demoralised the Tories. Will other defections mean they don't have enough numbers to be the official Opposition? He states why he believes that the most stable mixed economies are often those with monarchs, not presidents, especially in north-west Europe. Turning to Brexit, he feels that it is a process we are perhaps only halfway through, though he doesn't know where it will end up. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Political commentator Mike Indian wonders why the revelations about Lord Mandelson weren't caught in the vetting process but his sacking tops a bad week for the Prime Minister. Mike says that Angela Rayner will be missed: she spoke to Labour voters who Starmer can't reach. Mike expects she will return to the cabinet within a year or so and may yet end up as the party's leader. The PM needs a deputy leadership election like a hole in the head as it will allow grievances to be aired; some are calling it a referendum on his performance. Mike also summarises what he feels should be in the autumn Budget. Learn more about your ad choices. Visit podcastchoices.com/adchoices

After the arrest of comedian Graham Linehan for social media comments, Professor Tim Evans of Middlesex University says we cannot go on behaving like this and expect our friends in the United States to go on supporting us in our quest for a free sociey. We are humiliating ourselves internationally and spiralling into a broader delegitimation crisis. Argentinian President Milei calls himself an anarcho-capitalist. But what is that? Tim explains a world of scholarship dating back over 150 years. And with the Tories so low in the polls, distrusted and in no man's land, he asks if the Conservative Party might already have died. Learn more about your ad choices. Visit podcastchoices.com/adchoices

With Keir Starmer replacing his PPS, the third senior member of staff to leave, political commentator Mike Indian says it gives an impression of ineffectiveness and fosters a bunker mentality at the government's heart. Now that Reform is having to put meat on the bones of policies with its deportation plan, Labour must address the small boats problem. Although the Budget will now be largely written, Mike's advice is for the Chancellor to be bold and use a wealth tax to pay down debt and encourage people to save for their grandchildren's future and help bring down the cost of living. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Professor Tim Evans of Middlesex University looks at the increasingly farcical row over cryptography. As so often, the new bill's unintended consequence could leave the UK's young people even more susceptible to malign influences. He is fascinated by Nowcast's poll putting the Conservatives behind the Greens and SNP. Could we be returning to the 19th century conservative vs liberal political picture? And despite what some commentators say, Tim believes that the UK's current financial predicament is far worse than in the 1970s and that a bond crisis could come upon us out of the blue. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Political commentator Mike Indian worries about the outcome of the Ukraine summit in Alaska, given that Trump does not see Russia as the aggressor while Zelenksy has not been invited. With Vance's trip to the UK, we are seeing a very different relationship than other recent US presidencies, one where the American government appears genuinely interested in Britain. Rachel Reeves will be glad that UK growth is stronger than expected. But she must still raise revenue in the Autumn budget and it's looking increasingly likely that there will be massive changes to Inheritance Tax. Learn more about your ad choices. Visit podcastchoices.com/adchoices