£18bn Defence Plan 'too little' | Economist Andy Haldane on Government Debt, Growth & Market Fears

President of the British Chambers of Commerce Andy Haldane joins Robert Peston and Pippa Crerar to discuss how the Defence Investment Plan should be funded and how the plan could become a 'centerpiece for growth'. Haldane also explains how domestic factors like higher taxes and borrowing play a role in spooking the markets, as well as international influences such as the conflict in the Middle East. He also discussed whether Andy Burnham should consider keeping Rachel Reeves' fiscal rules should he become Prime Minister. Haldane is joined by former Conservative Party Chair Baroness Warsi and Labour MP Clive Lewis, who chime in on whether the triple lock should be scrapped to bolster defence spending and 'Manchesterism'. Key Moments: 00:00 – Introduction 01:40 – The "Big Three" cuts: Should we target Health, Welfare, or Pensions? 02:22 – The case for abolishing the Triple Lock on pensions. 05:16 – Defence as the centerpiece of a national growth and jobs strategy. 06:43 – Why bond markets are "bossing around" the UK government. 07:34 – Explaining the 2% gap in UK borrowing costs since the mini-budget. 08:33 – Why the UK is underperforming compared to the rest of the G7. 10:48 – What can be done to settle the markets? 12:15 – Clive Lewis on "Manchesterism" and the structural failures of the economy. 14:02 – Andy Haldane’s final advice. #peston #ukpolitics #politics #politicsnews #breakingnews #keirstarmer #labourparty #economy #defence #defencenews #andyburnham Peston is ITV’s flagship political programme, bringing you analysis, debates, and interview exclusives on the latest in current affairs. Watch the livestream and join the conversation: X: https://x.com/itvpeston TikTok:   / itvpeston   BlueSky: https://bsky.app/profile/itvpeston.bs...