The video discusses the UK's budget deficit, which remains a challenge despite improvements since the financial crisis. The economy faces headwinds from Brexit, and potential tax changes in the North Sea oil and gas fields are considered but deemed unlikely to significantly impact growth. The discussion also touches on the anti-austerity movement and Brexit's broader implications, emphasizing the Chancellor's commitment to eliminating the deficit by 2025, which may require further tax increases or spending cuts.

What are the implications of the UK's budget deficit being around 3% of GDP?

In what ways did the Brexit vote reflect desires beyond just the anti-austerity movement?