Britain owes £3 trillion. Daniel Hannan says its rivals have noticed.
For centuries, Britain’s military strength rested not only on its armed forces but on its ability to mobilise capital, develop technology and outspend its adversaries. Now, Hannan argues, that advantage is slipping away. With government debt mounting and growth faltering, he warns that Britain’s economic weakness is becoming a threat to its sovereignty.
Hannan is Director General of the Institute of Economic Affairs and a former Conservative MEP. He joins Marc Sidwell to explain how Britain reached this point – from the bank bailouts and lockdowns to a political culture that increasingly demands more from the state. He argues that the consequences are no longer confined to taxes and living standards: they are beginning to shape how Britain’s rivals see its power.
Hannan also argues that the politics of grievance helped fuel Trumpism, while the populist right’s growing hostility to free markets threatens to make the economic problem worse. Can the right rediscover the case for growth, or is Britain heading towards a future in which it can afford less and defend less?
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