Ben Chu
@benchu.bsky.social
Policy and analysis correspondent, BBC Verify.
https://www.benchu.co.uk/
Author of "Exile Economics: What Happens if Globalisation Fails", published May 2025
https://linktr.ee/exileeconomics
https://www.benchu.co.uk/
Author of "Exile Economics: What Happens if Globalisation Fails", published May 2025
https://linktr.ee/exileeconomics
Pinned
Ben Chu
@benchu.bsky.social
· Oct 20
The Tax Conundrum - Episode 1: The Problem - BBC Sounds
What's wrong with our tax system?
www.bbc.co.uk
Why do we seem to find it so hard to have a rational conversation about how MUCH we pay in tax and HOW we pay it?
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
The latest tax increases are very backloaded in the forecast - according to the OBR projected borrowing is up in every year to 2028-29 relative to the March 2025 Spring statement - only falls in 2029-30
November 26, 2025 at 1:18 PM
The latest tax increases are very backloaded in the forecast - according to the OBR projected borrowing is up in every year to 2028-29 relative to the March 2025 Spring statement - only falls in 2029-30
Little movement (so far) in UK government market borrowing costs in response to the Budget - couple of basis points +/- across the yield curve.
Looks like markets expected new headroom vs fiscal rules of around £22bn... www.bloomberg.com/markets/rate...
Looks like markets expected new headroom vs fiscal rules of around £22bn... www.bloomberg.com/markets/rate...
November 26, 2025 at 1:08 PM
Little movement (so far) in UK government market borrowing costs in response to the Budget - couple of basis points +/- across the yield curve.
Looks like markets expected new headroom vs fiscal rules of around £22bn... www.bloomberg.com/markets/rate...
Looks like markets expected new headroom vs fiscal rules of around £22bn... www.bloomberg.com/markets/rate...
Key takeaways on Chancellor's policy choices from the accidentally published OBR doc.
- Now £22bn of headroom in 2029-30 (up from £9.9bn)
- £26bn in tax rises in 2029-30 (including extension income tax threshold freeze, NICS on salary sacrifice pensions)
obr.uk/docs/dlm_upl...
- Now £22bn of headroom in 2029-30 (up from £9.9bn)
- £26bn in tax rises in 2029-30 (including extension income tax threshold freeze, NICS on salary sacrifice pensions)
obr.uk/docs/dlm_upl...
obr.uk
November 26, 2025 at 12:02 PM
Key takeaways on Chancellor's policy choices from the accidentally published OBR doc.
- Now £22bn of headroom in 2029-30 (up from £9.9bn)
- £26bn in tax rises in 2029-30 (including extension income tax threshold freeze, NICS on salary sacrifice pensions)
obr.uk/docs/dlm_upl...
- Now £22bn of headroom in 2029-30 (up from £9.9bn)
- £26bn in tax rises in 2029-30 (including extension income tax threshold freeze, NICS on salary sacrifice pensions)
obr.uk/docs/dlm_upl...
My Budget preview available on BBC iPlayer here.
- Has the Chancellor already hit "working people" with tax rises?
- Is Brexit really to blame for the expected increase in borrowing the forecasts?
- Is it in the interests of young people to put up taxes?
📺👇
www.bbc.co.uk/iplayer/epis...
- Has the Chancellor already hit "working people" with tax rises?
- Is Brexit really to blame for the expected increase in borrowing the forecasts?
- Is it in the interests of young people to put up taxes?
📺👇
www.bbc.co.uk/iplayer/epis...
How Will the Budget Affect Young People?
Ahead of the Budget this week, BBC Verify’s Ben Chu has been to Leeds, where the Chancellor’s constituency is, and has been looking at the figures.
www.bbc.co.uk
November 24, 2025 at 10:10 AM
My Budget preview available on BBC iPlayer here.
- Has the Chancellor already hit "working people" with tax rises?
- Is Brexit really to blame for the expected increase in borrowing the forecasts?
- Is it in the interests of young people to put up taxes?
📺👇
www.bbc.co.uk/iplayer/epis...
- Has the Chancellor already hit "working people" with tax rises?
- Is Brexit really to blame for the expected increase in borrowing the forecasts?
- Is it in the interests of young people to put up taxes?
📺👇
www.bbc.co.uk/iplayer/epis...
The national debt, benefits, housing, taxation...
How should we think about this week's Budget choices in the context of fairness between the UK's generations?
My analysis for BBC online ✍️👇
www.bbc.co.uk/news/article...
How should we think about this week's Budget choices in the context of fairness between the UK's generations?
My analysis for BBC online ✍️👇
www.bbc.co.uk/news/article...
Could the Budget help turn Generation Z into generation debt?
There's growing concern that current tax and spending policies help pensioners, but are unfair on younger generations.
www.bbc.co.uk
November 23, 2025 at 11:29 AM
The national debt, benefits, housing, taxation...
How should we think about this week's Budget choices in the context of fairness between the UK's generations?
My analysis for BBC online ✍️👇
www.bbc.co.uk/news/article...
How should we think about this week's Budget choices in the context of fairness between the UK's generations?
My analysis for BBC online ✍️👇
www.bbc.co.uk/news/article...
Many thanks to @vickyspratt.bsky.social for this lovely recommendation of my series "The Tax Conundrum" on BBC Sounds...
inews.co.uk/opinion/22k-...
inews.co.uk/opinion/22k-...
November 19, 2025 at 12:37 PM
Many thanks to @vickyspratt.bsky.social for this lovely recommendation of my series "The Tax Conundrum" on BBC Sounds...
inews.co.uk/opinion/22k-...
inews.co.uk/opinion/22k-...
"We have become the destination of choice in Europe" according to the Home Secretary Shabana Mahmood.
Data from Eurostat & the Home Office shows the UK had the fifth largest number of claims of the EU/UK area in 2025, at 108,000... assets.publishing.service.gov.uk/media/691ae0...
Data from Eurostat & the Home Office shows the UK had the fifth largest number of claims of the EU/UK area in 2025, at 108,000... assets.publishing.service.gov.uk/media/691ae0...
November 17, 2025 at 6:19 PM
"We have become the destination of choice in Europe" according to the Home Secretary Shabana Mahmood.
Data from Eurostat & the Home Office shows the UK had the fifth largest number of claims of the EU/UK area in 2025, at 108,000... assets.publishing.service.gov.uk/media/691ae0...
Data from Eurostat & the Home Office shows the UK had the fifth largest number of claims of the EU/UK area in 2025, at 108,000... assets.publishing.service.gov.uk/media/691ae0...
If you're wondering HOW and WHY the government has got itself in such a mess on tax ahead of this latest Budget - take a listen to my new 3 part series on the UK's Tax Conundrum on Sounds...
🎧👇
🎧👇
Why do we seem to find it so hard to have a rational conversation about how MUCH we pay in tax and HOW we pay it?
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
The Tax Conundrum - Episode 1: The Problem - BBC Sounds
What's wrong with our tax system?
www.bbc.co.uk
November 14, 2025 at 3:18 PM
If you're wondering HOW and WHY the government has got itself in such a mess on tax ahead of this latest Budget - take a listen to my new 3 part series on the UK's Tax Conundrum on Sounds...
🎧👇
🎧👇
UK 10 year Gilt yield is now up around 8 basis points today (0.08%) & the 30 yield yield is up 10 basis points (0.1%).
Both down a bit from the market open - but still a material increase in UK gov borrowing costs in response to the income tax rise flip-flop...
www.bloomberg.com/markets/rate...
Both down a bit from the market open - but still a material increase in UK gov borrowing costs in response to the income tax rise flip-flop...
www.bloomberg.com/markets/rate...
November 14, 2025 at 10:35 AM
UK 10 year Gilt yield is now up around 8 basis points today (0.08%) & the 30 yield yield is up 10 basis points (0.1%).
Both down a bit from the market open - but still a material increase in UK gov borrowing costs in response to the income tax rise flip-flop...
www.bloomberg.com/markets/rate...
Both down a bit from the market open - but still a material increase in UK gov borrowing costs in response to the income tax rise flip-flop...
www.bloomberg.com/markets/rate...
Very useful chart from Berenberg - the blue bars are the tariffs that could be removed if the US Supreme Court strikes down Trump's emergency tariffs (though the White House could well respond by using other tariff legislation to try to re-impose them)
November 14, 2025 at 10:06 AM
Very useful chart from Berenberg - the blue bars are the tariffs that could be removed if the US Supreme Court strikes down Trump's emergency tariffs (though the White House could well respond by using other tariff legislation to try to re-impose them)
Feels relevant again this morning 👇
Why do we seem to find it so hard to have a rational conversation about how MUCH we pay in tax and HOW we pay it?
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
The Tax Conundrum - Episode 1: The Problem - BBC Sounds
What's wrong with our tax system?
www.bbc.co.uk
November 14, 2025 at 9:00 AM
Feels relevant again this morning 👇
UK supermarkets have doubled their profit margins on fuel sales since 2017, according to data from the Competition and Markets Authority...
www.gov.uk/government/n...
www.gov.uk/government/n...
November 5, 2025 at 10:25 AM
UK supermarkets have doubled their profit margins on fuel sales since 2017, according to data from the Competition and Markets Authority...
www.gov.uk/government/n...
www.gov.uk/government/n...
Interesting that Rachel Reeves in her economy speech referenced public sector net debt when she said it's at £2.9 trillion/95% of GDP - her fiscal rules are targetting a different (lower) measure of the national debt called "public sector net financial liabilities".... www.gov.uk/government/s...
November 4, 2025 at 6:32 PM
Interesting that Rachel Reeves in her economy speech referenced public sector net debt when she said it's at £2.9 trillion/95% of GDP - her fiscal rules are targetting a different (lower) measure of the national debt called "public sector net financial liabilities".... www.gov.uk/government/s...
We're told that downgrades to official productivity growth forecasts spell tax rises in the forthcoming Budget.
But why?
My BBC online explainer 👇
www.bbc.co.uk/news/article...
But why?
My BBC online explainer 👇
www.bbc.co.uk/news/article...
Why does lower UK productivity mean tax rises are more likely?
Rachel Reeves says one of the key factors for her Budget will be the lowering of productivity forecasts.
www.bbc.co.uk
November 4, 2025 at 6:27 PM
We're told that downgrades to official productivity growth forecasts spell tax rises in the forthcoming Budget.
But why?
My BBC online explainer 👇
www.bbc.co.uk/news/article...
But why?
My BBC online explainer 👇
www.bbc.co.uk/news/article...
Lots of talk about new tax rises this morning in the wake of Rachel Reeves’ speech
If you want a fresh, stand back, Radio 4 series on this subject 👇
If you want a fresh, stand back, Radio 4 series on this subject 👇
Why do we seem to find it so hard to have a rational conversation about how MUCH we pay in tax and HOW we pay it?
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
The Tax Conundrum - Episode 1: The Problem - BBC Sounds
What's wrong with our tax system?
www.bbc.co.uk
November 4, 2025 at 10:33 AM
Lots of talk about new tax rises this morning in the wake of Rachel Reeves’ speech
If you want a fresh, stand back, Radio 4 series on this subject 👇
If you want a fresh, stand back, Radio 4 series on this subject 👇
ICYMI You can listen to the third and final part of my Radio 4 series on the UK's Tax Conundrum here 🎧👇
www.bbc.co.uk/sounds/play/...
www.bbc.co.uk/sounds/play/...
The Tax Conundrum - Episode 3: The Politics - BBC Sounds
What are the politics behind tax policy?
www.bbc.co.uk
November 3, 2025 at 4:13 PM
ICYMI You can listen to the third and final part of my Radio 4 series on the UK's Tax Conundrum here 🎧👇
www.bbc.co.uk/sounds/play/...
www.bbc.co.uk/sounds/play/...
Listen now on Radio 4 👇 www.bbc.co.uk/sounds/play/...
November 3, 2025 at 11:09 AM
Listen now on Radio 4 👇 www.bbc.co.uk/sounds/play/...
Coming up on BBC Radio 4 and on BBC Sounds at 11am - the third and final episode of The Tax Conundrum.
Do we - in the end - get the tax system we deserve?
Or is a better way possible?
Listen here 👇
www.bbc.co.uk/programmes/m...
Do we - in the end - get the tax system we deserve?
Or is a better way possible?
Listen here 👇
www.bbc.co.uk/programmes/m...
BBC Radio 4 - The Tax Conundrum, Episode 3: The Politics
What are the politics behind tax policy?
www.bbc.co.uk
November 3, 2025 at 9:05 AM
Coming up on BBC Radio 4 and on BBC Sounds at 11am - the third and final episode of The Tax Conundrum.
Do we - in the end - get the tax system we deserve?
Or is a better way possible?
Listen here 👇
www.bbc.co.uk/programmes/m...
Do we - in the end - get the tax system we deserve?
Or is a better way possible?
Listen here 👇
www.bbc.co.uk/programmes/m...
Scott Bessent says China has pledged to buy 12m tonnes of US soybeans this year and a minimum of 25m tonnes a year for the next 3 years.
Are those big numbers?...
www.bloomberg.com/news/article...
Are those big numbers?...
www.bloomberg.com/news/article...
Bessent Says China to Buy 12 Million Tons of Soybeans This Year
China has agreed to buy 12 million metric tons of soybeans this year, Treasury Secretary Scott Bessent said, providing some relief to US farmers who have anxiously awaited the resumption of exports to...
www.bloomberg.com
October 30, 2025 at 4:56 PM
Scott Bessent says China has pledged to buy 12m tonnes of US soybeans this year and a minimum of 25m tonnes a year for the next 3 years.
Are those big numbers?...
www.bloomberg.com/news/article...
Are those big numbers?...
www.bloomberg.com/news/article...
The latest Index of Multiple Deprivation for England has been released today.
My Verify colleagues have built this handy online tool to enable you to look up where your area ranks 👇
www.bbc.co.uk/news/article...
My Verify colleagues have built this handy online tool to enable you to look up where your area ranks 👇
www.bbc.co.uk/news/article...
England's most deprived areas named - with Jaywick topping list
Jaywick, a seaside town in Essex, has been named the most deprived area for a fourth time in a row.
www.bbc.co.uk
October 30, 2025 at 1:43 PM
The latest Index of Multiple Deprivation for England has been released today.
My Verify colleagues have built this handy online tool to enable you to look up where your area ranks 👇
www.bbc.co.uk/news/article...
My Verify colleagues have built this handy online tool to enable you to look up where your area ranks 👇
www.bbc.co.uk/news/article...
Reposted by Ben Chu
Bet you never thought that a discussion about whether marshmallows are eaten with fingers would form part of what is the start of an interesting @benchu.bsky.social Radio 4 series “The Tax Conundrum”…but that’s what you get in Episode 1
www.bbc.co.uk/sounds/play/...
www.bbc.co.uk/sounds/play/...
The Tax Conundrum - Episode 1: The Problem - BBC Sounds
What's wrong with our tax system?
www.bbc.co.uk
October 30, 2025 at 12:15 PM
Bet you never thought that a discussion about whether marshmallows are eaten with fingers would form part of what is the start of an interesting @benchu.bsky.social Radio 4 series “The Tax Conundrum”…but that’s what you get in Episode 1
www.bbc.co.uk/sounds/play/...
www.bbc.co.uk/sounds/play/...
Nice review of my Radio 4 series The Tax Conundrum in The Times
"I became hypnotised by the ins and outs of the tax status of marshmallows" writes @j-amesmarriott.bsky.social...
👇
www.thetimes.com/culture/tv-r...
"I became hypnotised by the ins and outs of the tax status of marshmallows" writes @j-amesmarriott.bsky.social...
👇
www.thetimes.com/culture/tv-r...
Britain’s tax system has attained magical-realist levels of zany illogic
Ben Chu’s Radio 4 documentary The Tax Conundrum doesn’t have a promising title, but I became hypnotised by the ins and outs of the tax status of marshmallows
www.thetimes.com
October 30, 2025 at 9:25 AM
Nice review of my Radio 4 series The Tax Conundrum in The Times
"I became hypnotised by the ins and outs of the tax status of marshmallows" writes @j-amesmarriott.bsky.social...
👇
www.thetimes.com/culture/tv-r...
"I became hypnotised by the ins and outs of the tax status of marshmallows" writes @j-amesmarriott.bsky.social...
👇
www.thetimes.com/culture/tv-r...
Waiting to go on Newsnight to talk about what the Trump/Xi summit means for global trade!
@bbcnewsnight.bsky.social
BBC2 /iPlayer now
@bbcnewsnight.bsky.social
BBC2 /iPlayer now
October 29, 2025 at 10:33 PM
Waiting to go on Newsnight to talk about what the Trump/Xi summit means for global trade!
@bbcnewsnight.bsky.social
BBC2 /iPlayer now
@bbcnewsnight.bsky.social
BBC2 /iPlayer now
Reposted by Ben Chu
Listen to IFS Director @helenmiller.bsky.social on the 'Tax Conundrum', a three-part series from @benchu.bsky.social on why the UK tax system has become such a mess and what difference that makes: ⬇️
Why do we seem to find it so hard to have a rational conversation about how MUCH we pay in tax and HOW we pay it?
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
I'm exploring that in a new 3 part series for BBC Radio 4.
Episode 1 of The Tax Conundrum available here 🎧👇...
www.bbc.co.uk/sounds/play/...
The Tax Conundrum - Episode 1: The Problem - BBC Sounds
What's wrong with our tax system?
www.bbc.co.uk
October 28, 2025 at 12:56 PM
Listen to IFS Director @helenmiller.bsky.social on the 'Tax Conundrum', a three-part series from @benchu.bsky.social on why the UK tax system has become such a mess and what difference that makes: ⬇️