Even the most innumerate among us has heard of the Laffer curve, a theory popularised by US economist and presidential advisor Arthur Laffer. It spells it out how, beyond a particular threshold, increasing taxes actually brings down revenue.Camilla and Tim are joined by the legendary economist – who has worked with Presidents Trump and Reagan and was a friend of Margaret Thatcher – to discuss the upcoming Budget, Trump's tariffs, and whether Nigel Farage has a coherent economic plan.Laffer also weighs in on Liz Truss, who he says was "thinking in the right direction" with her mini-Budget, and explains why a wealth tax would be a "huge mistake".We want to hear from you! Email us at [email protected] or find @dailytpodcast on TikTok, Instagram and X► Sign up to our most popular newsletter, From the Editor. Look forward to receiving free-thinking comment and the day's biggest stories, every morning. telegraph.co.uk/fromtheeditorProducer: Lilian FawcettSenior Producer: John CadiganVideo Producer: Will WaltersStudio Operator: Meghan SearleExecutive Producer: Charlotte SeligmanSocial Producer: Nada AggourEditor: Camilla Tominey Hosted on Acast. See acast.com/privacy for more information.

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