Steph McGovern

speaker

4,755 appearances 54 recordings 6 series first heard Nov 2025 last heard yesterday

Steph McGovern’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 54 in all, peaking in Aug 2026 with 9.

Appearances

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The Rest Is Money · 311. Why is the US debt crisis a big problem for Burnham? · 6 Sep 2026 podcast

If that were a government department, it is bigger that value, that money there in in debt interest than defence. matched

Then energy, then transport. matched

It's bigger as well than the school's budget. matched

So this is a huge amount of money that we are paying simply in interest on our debt. matched

It's not even bringing down our debt if we just pay that. matched

So obviously, this is a big worry now for the Chancellor coming in with his first budget on the twenty eighth of October, because that buffer we have as a country, you know, the fiscal headroom. matched

Rachel Reeves thought she'd set aside about twenty four billion for that in her last budget uh before she uh left the job. matched

It doesn't look like we're anywhere near that, you know, it it it fourteen billion at best is what lots of people are saying. matched

But Robert, what's your feeling on what this budget is gonna be like this October? matched

Isn't it interesting as well that our friend of the show, Jim O'Neill, who we talk to a lot about what's going on, um, was looking like obviously he's been advising Burnham for some time now, and was looking like he was gonna join Burnham's government and hasn't. matched

And it's looking like the reason for that is quite as frankly what you've just said, the fact that they, you know, we haven't got matched

A plan for how we're gonna fund these projects properly. matched

And you know, he talked to us, didn't he, about these sacred cows, about the you know, getting rid of things like the triple lock on pensions, you know, the importance of the need to cut welfare. matched

And it feels like, Robert, what's your thoughts? matched

That it it sounds like the government mustn't have plans to do that, and that is why Jim is like, Well, I can't join you then because matched

Because you're not gonna you're not gonna do the things you need to to be able to fund the spending you wanna do. matched

Yeah, it's always the same thing though. matched

It's that worry about the older voters, isn't it? matched

It it's that concern that they would just won't vote. matched

Just to put some numbers on that as well, you know, when we're talking about this uh triple lock in terms of how much it's costing the government, you know, if we if you look at the state pension overall, it it's about a hundred and forty billion pounds a year that it costs. matched

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