EXCLUSIVE. Liam Halligan & Matt Goodwin. The UK economy in 2025 - implosion in 2026?

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The UK economy is in freefall. Growth is non-existent. Taxes are at a record high. Our pile of debt is both very big and very expensive. Living standards are declining. Productivity is through the floor. And all this looks set to get much worse.

Which is why, today —exclusively for our paid subscribers—Matt Goodwin and Liam Halligan —columnist at the Telegraph and author of the When the Facts Change — look back on a seismic year for the UK economy and look ahead to address growing speculation of a major financial crisis, a meltdown of the Labour government, and discuss implications for politics and the country.

Together, they unpack all of the biggest economic events and talking points of 2025, including the aftermath of the Labour budget, the economic “doom-loop,” how the public mood on taxation and spending is changing, the latest polling, what lies ahead of people’s living standards, and whether Reform or the Greens will be the big beneficiary of the fallout if and when the economy does implode.

Most importantly, they predict what will happen to the economy in 2026.

This episode is an essential watch for anyone trying to understand where the country is heading — and why the stakes have rarely been higher.

Here are some short clips from the one-hour discussion:

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Liam and Matt discuss the possibility of an economic crash in the UK in 2026 and what this will mean for British Politics:

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Here’s a short clip of Matt and Liam discussing public opinion on politics and the UK economy in 2025:

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As usual, our paying subscribers who make our work and reach possible, can watch the full, one-hour discussion between Matt and Liam below. These discussions are a means of highlighting work in our respective Substack newsletters. There will be many, many more discussions throughout 2026 so now is a good time to join us.

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