Tom Clougherty is the Executive Director and Ralph Harris Fellow at the Institute of Economic Affairs, and one of Britain’s leading advocates for free markets, limited government, and economic reform. With years of policy experience and a deep understanding of Britain’s institutional dysfunction, Tom offers a no-nonsense diagnosis of the UK’s economic decline.
In this interview, we explore why Britain feels broken - from punitive taxes and housing failures to bureaucratic overreach, political cowardice, and collapsing public services. Tom explains how the UK lost its economic edge, why the middle class is being hollowed out, and what must change to unleash growth and restore national confidence.
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00:00:00 – Introduction
00:02:54 – Debt, Inflation, and Central Banks
00:05:07 – Free Markets
00:08:16 – Water, Infrastructure, and Privatisation
00:11:14 – The Gutting of the Middle Class
00:13:32 – Diagnosing the UK Economy
00:17:24 – Planning Laws and Building Nothing
00:24:32 – Energy Policy and Deindustrialisation
00:26:51 – QE, MMT, and the Inflation Hangover
00:30:45 – Societal Breakdown
00:37:35 – Let Markets Decide Our Future
00:39:10 – Bureaucratic Tyranny
00:51:02 – Winning the Battle of Ideas
01:02:01 – Why Politicians Can’t Fix Anything
01:10:00 – Illusion of Civil Service Competence
01:13:18 – Deregulation and Supply-Side Reform
01:16:30 – Financial Regulation and Growth
01:17:00 – Radical Ideas on the NHS
01:34:06 – Tax Reform and Incentives
01:43:00 – Conservative Tax Failures
01:47:19 – Professional Politicians
01:52:51 – Speaking Truth in Politics
02:03:16 – Bitcoin, Hayek & Competing Currencies
02:14:32 – Final Thoughts
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