In this final PwC Economics in Business Podcast of 2025, PwC UK Economics Leader Simon Oates and UK Chief Economist Barret Kupelian take stock after the dust has settled on the UK Budget. They unpack what a thicker fiscal headroom really signals for economic stability and how recent policy changes are reshaping business decisions and the labour market as firms look ahead to 2026. Barret also shares some of his economic predictions for next year, from US monetary policy and tariffs to the risk of an AI-driven market revaluation.

With households saving more and uncertainty rising, UK growth remains mediocre. In this episode from the PwC Economics team, Barret Kupelian Chief Economist and Andy Haldane Special Advisor speak to Simon Oates, UK Economics Leader on their latest thoughts on the economy, why households are saving and weigh on the Chancellor's high-level fiscal options for the Autumn Budget. They are also joined by Fatos Koc from the OECD on a fascinating discussion on global public debt levels.

Hosted by Simon Oates, Leader of Economics at PwC UK, this episode of Economics in Business brings you a data-driven exploration of the UK economy’s brightest levers and its toughest hurdles. Join Simon as he challenges:

Barret Kupelian, PwC’s Chief Economist UK, on why real wages are rising faster than wallets feel—and what it means for consumer demand.

Andy Haldane, PwC Special Advisor and former Bank of England Chief Economist, on the sharp contrast between sluggish goods exports and booming services—and the policy choices ahead.

Together, they dissect:

• Rising pay packets vs. muted spending
• The goods vs. services export boom
• Britain’s decade long productivity puzzle