The Spectator presents
Reality Check – the new podcast from The Spectator – cuts through the spin and explains the numbers behind the noise. In each episode, The Spectator’s economics editor Michael Simmons and in-the-know guests will make a data-driven case on a story hogging the headlines.
All episodes
4 Jun 2026
•
20 mins
Can you trust your spouse with your finances? Plus Britain's longest divorce. With Alice Wright
Nicola Sturgeon has claimed she was deceived by her ex husband Peter Murrell who pled guilty having embezzled tens of thousands of pounds of SNP money. Financial infidelity has become a top reason behind couples divorces. The Times Alice Wright joins Michael Simmons on Reality Check to discuss.
26 May 2026
•
10 mins
Price caps are pointless – why Reeves is wrong to attack supermarkets
The government have rolled back on plans to impose price caps in supermarkets. Was Reeves wrong to go after them for price gouging? Michael Simmons has the data.
19 May 2026
•
27 mins
Trump's tariffs & Mamdani's New York – can anything destroy America's economy?
Is the US economy immune to harm? It has been tested this year under Trump's trade tariffs, and inflation fears. Kate Andrews, former economics editor of The Spectator now opinion journalist at the Washington Post and host of the Make it Make Sense podcast returns to Spectator TV with Michael Simmons to discuss the US economy, whether Mamdani is as bad as Zack Polanski, Andrew Bailey vs Kevin Warsh and why we should be worried about the UK's youth unemployment figures.
7 May 2026
•
<br>
Local elections: council budgets are financial black holes – what's the point in voting?
May local elections have finally arrived. As 5066 local council seats are contested, many are wondering whether there is any point in voting. These councils manage budgets worth hundreds of millions of pounds – budgets decided by national government. Given the amount of statutory spending on areas like SEND and care homes, there is very little room for change inside local government. Michael Simmons has the data. Contributions also from Cllr Max Austin, Wimbledon & Cllr Zander West, Basingstoke & Deane.
29 Apr 2026
•
16 mins
Polanski slams the 'war on drugs' – here's why he's wrong about legalisation
Britain has recorded the highest drug deaths in Europe. Green Party leader Zack Polanski has declared that this means the so called 'war on drugs' is not working, and favours a more liberal approach of legalisation. Michael Simmons is joined by John Power to look at the numbers and show why Polanski would likely make drug deaths rise under his policy.
24 May 2026
•
12 mins
Don't believe the headline: the truth about unemployment data
Unemployment unexpectedly fell to 4.9 per cent this week. Some in government may been using this to mark a healthy economy but don't believe the headlines. Whilst unemployment may be down, economic inactivity is up. And figures show its predominately graduates who are struggling to find work. Michael Simmons looks at the data and explains why youth employment is in crisis, and why the government can't blame AI.
16 May 2026
•
35 mins
How the leasehold mafia screwed a generation of homeowners
Buying a flat in Britain has increasingly become a fool’s errand, driven in part by the leasehold system trapping homeowners into flats. When Labour wrote their manifesto they promised reform to the leasehold system, but it remains a sticking point in Westminster due to heavy lobbying. Michael Simmons is joined by Harry Scoffin, founder from Free Leaseholders who makes the case for the common law system.
9 Apr 2026
•
7 mins
Benefits Britain exposed: are you paying for someone else's day out?
Britain has become a freeloader’s paradise. A working family of four will fork out £111 for a trip to the Tower of London, or £108 to visit London Zoo. With one parent on Universal Credit (UC), however, that drops to just £4 and £26 respectively. Welfare-advice websites expose how the public sector is ‘geared permanently to making welfare an increasingly attractive way of living’. Those on welfare are not enduring the cost-of-living crisis in the same way as the rest of us, with successive governments fiddling with prices and prioritising claimants. On its own, UC is not particularly generous by international standards, but health-related top-ups transform the picture, while it is our failure to incentivise people back to work that really makes us stand out. Michael Simmons has the story.
1 Apr 2026
•
10 mins
How the Iran crisis could wreck your mortgage
What has the war in Iran got to do with Britain’s house buyers? Michael Simmons takes a look at conflicting predictions from economists and the markets on the impact rising oil prices could have on interest rates. 2026 was expected to be one of the best years for first-time buyers to finally get on the property ladder. Now it looks as if Trump’s war could bring that to an end. But there is a small window for optimism – are the markets wrong?
24 Mar 2026
•
22 mins
Energy bailout? Why Britain can’t afford a cap on household bills
Today Rachel Reeves promised ‘support for those who need it most’ as she updated MPs on measures the government is taking as the Iran war risks increasing energy bills. Michael Simmons is joined by Spectator writer Ross Clarke to discuss why energy bailouts won’t work, why Reeves is unfair to pile the blame on Liz Truss and understand the complexities behind a means tested method to target those that need help most.
18 Mar 2026
•
8 mins
Reeves vs Miliband: Britain can have AI or Net Zero – but it can’t have both
Yesterday Rachel Reeves gave her Mais lecture and said UK would achieve ‘fastest AI adoption in the G7’. Today govt is publishing its position on AI rules that are crucial for keeping AI startups in the UK and not losing them abroad. Michael Simmons uncovers the data that shows just how costly of Britain's energy resources this plan for an AI revolution would be. And how incompatible this is with Ed Miliband's dreams of a net zero future.
9 Mar 2026
•
29 mins
Iran oil crisis could be the worst we've ever seen – former Trump economist Tyler Goodspeed
Oil prices surged past $100 per barrel as the war with Iran intensified over the weekend. Since Iran closed the Strait of Hormuz, without a solution to the severe disruption in crude oil flows, how hard will we feel it back in Britain? And why has Britain left itself so vulnerable from its energy policy? Michael Simmons is joined by former advisor to Donald Trump Tyler Goodspeed to discuss why this situation has far greater consequences than Trump’s tariffs, how petroleum is so embedded in our everyday economy and why Ed Miliband could be heading for a Liz situation.
24 Feb 2026
•
6 mins
SEND madness: Britain faces 'ruinous costs' from over diagnosing children
Why are one in five school children classified as special educational needs and disabilities (SEND) in 2026? The rates of children being diagnosed with neurodiverse conditions have scaled to disproportionate rates and the costs are a major concern for the government. Michael Simmons takes a look at the data and explores why devolution has provided some kind of a solution.
19 Feb 2026
•
22 mins
Debt bomb: the £100 billion problem nobody talks about
There is an area of public spending nearly double what Britain spends on defence, more than policing borders or our streets. It's servicing the costs of what Britain has borrowed in the past. The growing debt bomb is continuing to climb with real consequences for the taxpayer. Michael Simmons takes a look at the data and speaks to the economist Paul Johnson about what political measures the government will have to take to tackle Britain's debt crisis, what it means for the taxpayer and why the reviving modern monetary theory movement is nonsense.
11 Feb 2026
•
10 mins
Student debt, house prices & the triple lock – has Labour screwed young people for good?
This week Keir Starmer faced the greatest challenge to his premiership yet. So what will this Prime Minister will be remembered for? Policies which hurt young people. From student loan debt crisis, tax thresholds, ISA allowances and the pensions triple lock, what hope is there for young Brits? Michael Simmons has the data.
6 Feb 2026
•
19 mins
Peter Schiff on the dollar: America's bust is the world's boom
Michael Simmons speaks to American economist Peter Schiff about the surge in gold prices, the weakness of the US dollar and why he believes the next major economic crisis is approaching. Schiff argues that recent dips in precious metals are a buying opportunity, warns that years of low interest rates and money printing have created a 'bubble economy' and explains why he thinks cryptocurrencies are 'speculative mania'.
3 Feb 2026
•
9 mins
Why the housing crisis is far worse than Labour wants you to believe
Housing minister Steve Reed has been boasting about Britain’s housing market since Labour came into office – but is he right to celebrate? The country’s housing crisis seems to be delivering the worst of both worlds. Young people trying to get on the property ladder are being priced out by stubbornly high costs, while older homeowners looking to downsize find themselves trapped, with too few buyers able to afford their homes. Michael Simmons takes a look at the data.
27 Jan 2026
•
31 mins
Andy Burnham’s bond blip, scrapping the OBR & why Rishi Sunak deserves more credit – James Nation
When Andy Burnham put forward his bid to stand in the Gorton & Denton by-election, the bond markets wobbled. What does this say about the state of Labour and their reputation with the markets? Michael Simmons speaks to former Treasury and Downing Street advisor James Nation about Labour leaders and fiscal policy, why Rishi Sunak was right on inflation and what he has learnt in the private sector since leaving the Treasury.
14 Jan 2026
•
25 mins
Who's to blame for Britain's water crisis?
Thousands of homes across the South East have been without water for four consecutive days. South East Water’s record on water supply interruptions is one of the worst in the sector. Ofwat, the regulator, has placed it in the bottom three companies for disruptions each year from 2020 to last year. What has happened to the water industry in the past decade? And would nationalisation fix it? Michael Simmons is joined by The Spectator's business editor Martin Vander Weyer.
9 Jan 2026
•
7 mins
Could Britain's migration crisis already be over?
Reform UK may be leading in the polls on a mandate to hit net zero migration – but could this come sooner than Nigel Farage may think? Michael Simmons returns to Reality Check to explain what's really going behind Britain's migration figures.
12 Dec 2025
•
8 mins
Why Wes Streeting is right about junior doctors
Junior doctors, now known as resident doctors, will strike from December 17 to 22, which Wes Streeting has said will ‘wreck Christmas’. The doctors are demanding a 26 per cent salary rise over the next few years to make up for the erosion in their pay in real terms since 2008 – this is on top of a 28.9% increase they have had over the last three years. Michael Simmons takes a look at their claim over the erosion of their pay in real terms, explains why Wes Streeting is right to call them ‘moaning minnies’ and offers an alternative solution instead.
8 Dec 2025
•
9 mins
Are thousands of kids really living in poverty?
The Chancellor laid out her plans to scrap the two-child benefit cap in the Budget last week. Previously Rachel Reeves and the Prime Minister were against lifting the cap, but pressure from Reform and the back benches meant the government u-turned. The Resolution Foundation has backed this policy, arguing that it will help lift children out of poverty. But is this based on dodgy data? Michael Simmons investigates.
5 Dec 2025
•
24 mins
Why the WHO is wrong on obesity – Christopher Snowdon
Lifestyle economist Christopher Snowdon joins Michael Simmons to explore how weight-loss drugs like Ozempic could reshape health, policy and the economy. From the WHO’s call for mass production to flawed obesity cost estimates, failing ‘nanny state’ interventions and the future of food companies, Snowdon argues that these drugs are a genuine game-changer – and warns that much of current public health thinking is fast becoming obsolete.
24 Nov 2025
•
34 mins
Why Chancellors once drank during the budget: a history of treasury tipples
Rachel Reeves is due to deliver her Budget this Wednesday. Throughout the years, the only person permitted to drink inside the House of Commons is the Chancellor. What has been the tipple of choice for each Chancellor dating back to Benjamin Disraeli? Michael Simmons and James Heale drink their way through the ages, discuss the historical context of each budget, and question whether Rachel Reeves has the toughest job yet.
22 Nov 2025
•
28 mins
Why British business is doomed to fail – and how to fix it | Entrepreneur Luke Johnson
Entrepreneur and investor Luke Johnson joins Michael Simmons to discuss what is going wrong for Britain's business. From soaring taxes and the Employment Rights Bill to net-zero regulation, planning failures and the rise in economic inactivity, Johnson argues the UK is becoming hostile to entrepreneurs — and warns that many are already leaving for good.
17 Nov 2025
•
30 mins
Rory Sutherland: Britain isn’t working – here’s how to fix it
Advertising legend and Spectator columnist Rory Sutherland joins Michael Simmons to explain why he thinks Britain’s economic problem isn’t income, tax rates or even inequality — it’s property, rent extraction, and a national belief that housing is the safest and smartest place to store wealth.
11 Nov 2025
•
12 mins
Datageddon: Britain's stats have become dangerously unreliable
Britain is facing a quiet crisis — its data is breaking down, and the government’s numbers are increasingly unreliable. In this episode of Reality Check, economics editor Michael Simmons asks what happens when the state can’t count properly. How can the Bank of England set interest rates or the Treasury balance the books when the data they rely on is wrong? And why are so many “official” statistics now being stripped of their trusted status?
30 Oct 2025
•
14 mins
The rich are leaving Britain – and making you poorer
Are the rich fleeing Britain? That's what the numbers suggest, but some activist groups have hit back that the data is dodgy. For the second episode of Reality Check The Spectator's economics editor Michael Simmons explains why the data shows that the wealthy are leaving Britain, and why this matters for everyone else.
23 Oct 2025
•
45 mins
Arthur Laffer: Britain is taxing itself to death
Arthur Laffer, the man who taught Reagan to cut taxes, tells Michael why Britain’s economy is ‘disappearing’, why the Bank of England shouldn’t exist, and why he still believes low taxes – and a little optimism – can send Britain ‘to the moon and the stars.’