Michael Simmons

Michael Simmons

Michael Simmons is The Spectator's economics editor. Contact him here.

Trump’s tariffs & Mamdani’s New York – can anything destroy America’s economy?

From our UK edition

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 the UK's growth figures.

Trump's tariffs & Mamdani's New York – can anything destroy America's economy?

Will the bond markets undo Burnham?

From our UK edition

13 min listen

Andy Burnham’s campaign for Makerfield is already gathering pace, complete with Oasis soundtrack to a new campaign video. But as Labour’s would-be challenger tries to pitch himself as the man to replace Keir Starmer, questions remain over his economic credibility. Michael Simmons and Tim Shipman join Noa Hoffman to Burnham, the bond markets, and if Starmer can really dig in if Burnham wins the by-election.

Council budgets are financial black holes – what’s the point in voting?

From our UK edition

11 min listen

May local elections have finally arrived. As 5,066 seats are contested in local councils many are wondering whether there is any point in voting at all. 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. This episode is brought to you by Artemis Fund Managers, for more information on our fund range please click here https://www.artemisfunds.com/ .

Council budgets are financial black holes – what's the point in voting?

‘Bring back shame!’ – is Britain’s social contract broken? | with Trevor Phillips

From our UK edition

45 min listen

In this week’s podcast, William Moore is joined by The Spectator’s economics editor Michael Simmons, assistant editor Isabel Hardman and Times columnist and Sky News presenter Trevor Phillips. The panel unpacks Mary Wakefield’s cover story on the rise of shoplifting – and what it reveals about’ shameless Britain’. After a Morrisons manager was reportedly sacked for stopping a thief, they ask whether petty crime, fare-dodging and everyday rule-breaking are eroding the social contract.Also on the episode: Tim Shipman’s latest piece on Labour after Starmer.

‘Bring back shame!’ – is Britain’s social contract broken? | with Trevor Philips

Polanski slams the ‘war on drugs’ – here’s why he’s wrong about legalisation

From our UK edition

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. This episode is brought to you by Artemis Fund Managers, for more information on our fund range please click here https://www.artemisfunds.com/ .

Polanski slams the 'war on drugs' – here's why he's wrong about legalisation

Don’t believe the headline: the truth about unemployment data

From our UK edition

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.

Don't believe the headline: the truth about unemployment data

How the leasehold mafia screwed a generation of homeowners

From our UK edition

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.

How the leasehold mafia screwed a generation of homeowners

Is Britain losing its sense of fairness?

From our UK edition

49 min listen

Has Britain become a freeloader’s paradise, asks the Spectator’s economics editor Michael Simmons in our cover piece this week. Michael analyses ‘the benefits of benefits’, at a time when Britain’s welfare bill is burgeoning and most households are struggling with cost of living. For example, while a family of four can expect to pay £111 to visit the Tower of London, that is just £4 total on Universal Credit (UC), and for London Zoo it is £108 compared to £26. Michael is not arguing against the idea of helping those in need, but pointing out that – as the benefits bill continues to increase – this is another case of governments prioritising ‘welfare over work’ and ultimately squeezing the working poor.

Is Britain losing its sense of fairness?

Benefits Britain exposed: are you paying for someone else’s day out?

From our UK edition

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.

Benefits Britain exposed: are you paying for someone else's day out?

Could the Iran war wreck your mortgage?

From our UK edition

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?

Could the Iran war wreck my mortgage?

Why is Britain so exposed to rising energy prices?

From our UK edition

The IMF has warned Britain is particularly vulnerable to another spike in energy prices, and is more exposed than many of its European neighbours. Why is that the case? And does the government have any real plan to shield households and businesses from the fallout? With the Tories and Reform calling for the government to drill baby drill, why is the government avoiding a pretty obvious solution? James Heale speaks to Tim Shipman and Michael Simmons.

Why is Britain so exposed to rising energy prices?

Energy crisis: are we in 1973 territory?

From our UK edition

10 min listen

The panic has set in around the cabinet table about this energy crisis, and fears of history repeating itself. Tim Shipman writes in the magazine about the comparisons being made to 1973 and the Opec oil shock, with the government preparing for oil prices to reach £150 a barrel. What levers are available to the government to ease the economic fallout and 1970s-style inflation? And why is it that the UK is so uniquely impacted by this crisis? Oscar Edmondson speaks to Tim Shipman and Michael Simmons. Produced by Oscar Edmondson.

Energy crisis: are we in 1973 territory?

To drill or not to drill, that is the question

From our UK edition

15 min listen

In the final Prime Minister's Questions before Easter recess, Kemi Badenoch pushed Keir Starmer to commit to new oil & gas drilling licences. The Conservatives spot an easy win here – cost of living concerns are rising as America's war with Iran continues. Plus, with a burgeoning welfare bill, the trade-offs are even trickier for Labour to resolve. Who should Labour target? Tim Shipman and Michael Simmons join Patrick Gibbons to discuss. Come for Tim's impression of the Prime Minister, and stay for Michael's very strong response when asked if renewables are the answer. Produced by Patrick Gibbons.

To drill or not to drill, that is the question

Energy bailout? Why Britain can’t afford a cap on household bills

From our UK edition

22 min listen

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.

Energy bailout? Why Britain can’t afford a cap on household bills
Should we brace for another financial shock?

Should we brace for another financial shock?

From our UK edition

Britain’s response to the conflict in Iran is dominating Westminster – but is Keir Starmer really keeping the country out of war? After a tense Liaison Committee appearance exposed divisions over defence spending, pressure is also mounting on the government’s economic strategy. With energy prices rising, mortgage products disappearing and fears of inflation returning, how prepared is Labour for the fallout? James Heale speaks to Isabel Hardman and Michael Simmons.

Britain can have AI or Net Zero – but it can’t have both

From our UK edition

8 min listen

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.

Britain can have AI or Net Zero – but it can’t have both

Net Zero vs AI: can Reeves convince Miliband?

From our UK edition

16 min listen

The Chancellor will deliver the annual Mais lecture today and is expected to focus on closer alignment with the EU, AI and improving Britain's economic geography ('levelling up' in all but name). While her comments on Europe might gain the most headlines, we're more curious about what she will say over AI – given the current geopolitical context. Given the energy requirements of AI, the Iran crisis has only further exposed the holes in Britain's energy policy – can Rachel Reeves convince Ed Miliband to adapt his policies? And is this about the Chancellor's political headroom as much as the economic?

Net Zero vs AI: can Reeves convince Miliband?

Is the special relationship over?

From our UK edition

The US Defense Secretary Pete Hegseth has said today will be the most intense day yet of American strikes on Iran. Over the weekend, Donald Trump claimed the war could soon be over – and suggested the US has already effectively won. He also took aim at Keir Starmer, accusing Britain of joining wars America has ‘already won’. Deputy and US editor Freddy Gray joins the podcast to explain what’s really happening in Washington and why he believes the ‘special relationship’ may be over – and not coming back. Economics editor Michael Simmons also joins to discuss the fallout. As oil prices surge and markets react, Reform UK is seizing on renewed pressure over the cost of living. What does the crisis mean for Rachel Reeves – and how serious could the economic consequences become?

Is the special relationship over?

This oil crisis could be the worst we’ve ever seen – former Trump economist Tyler Goodspeed

From our UK edition

30 min listen

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.

This oil crisis could be the worst we've ever seen – former Trump economist Tyler Goodspeed