Britain’s Austerity Trap

Why is one of the world’s richest countries still behaving like it’s broke?

In this episode of Explaining History, we dive into Yanis Varoufakis’s searing critique of Britain’s ongoing austerity dilemma under the new Labour government. Despite hopes for change, Chancellor Rachel Reeves faces the same iron cage of fiscal rules, banker subsidies, and Treasury orthodoxy that has strangled public spending for decades.

We unpack the hidden costs of so-called “zombie austerity,” from unerfunded public services to a staggering £34 billion annual transfer from taxpayers to banks. Is Britain trapped by myths of fiscal discipline and “credit card economics”—or is there a way out?

Join us as we explore the structural forces keeping Britain stuck in austerity’s shadow—and what a truly radical economic alternative might look like.

Also, follow events in Bogota and steps to end the genocide in Gaza here and here

I only ever talk about history on this podcast but I also have another life, yes, that of aspirant fantasy author and if that's your thing you can get a copy of my debut novel The Blood of Tharta, right here:

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The extent to which western soft power and legal and moral authority has been shredded by Gaza is lost upon British, American and European populations for the most part, but across the global south a new movement appears to be coalescing around South Africa and Columbia. In Europe, Ireland and Spain have joined with them and sixteen other global south countries to form the Hague Group, dedicated to upholding international law as it relates to Gaza. This, until quite recently, was inconceivable and the intervention of China is the one factor that makes this resistance possible.

Full report in Middle East Eye here

I only ever talk about history on this podcast but I also have another life, yes, that of aspirant fantasy author and if that's your thing you can get a copy of my debut novel The Blood of Tharta, right here:

If you enjoy the Explaining History podcast and its many years of content and would like to help the show continue, please consider supporting it in the following ways:

If you want to go ad-free, you can take out a membership here

Or

You can support the podcast via Patreon here

Or you can just say some nice things about it here

Hosted on Acast. See acast.com/privacy for more information.

Warfare had to be re-propagandised in the 20th Century, particularly in the western world, as a moral crusade. Mass democracy determined that leaders needed to present war as a manichean struggle between freedom and tyranny. The end of the Tsarist regime and the intervention of a liberal American president in the First World War was an ideal opportunity to re-invent conflict as moral crusade in the defence of freedom. The arguments that British, American and other NATO leaders present in the 21st Century and during the era of genocide that we are living through, are looking threadbare to say the least.

I only ever talk about history on this podcast but I also have another life, yes, that of aspirant fantasy author and if that's your thing you can get a copy of my debut novel The Blood of Tharta, right here:

If you enjoy the Explaining History podcast and its many years of content and would like to help the show continue, please consider supporting it in the following ways:

If you want to go ad-free, you can take out a membership here

Or

You can support the podcast via Patreon here

Or you can just say some nice things about it here

Hosted on Acast. See acast.com/privacy for more information.