Part 8/14:

One core issue is the overreach of government, which has become overly bloated and intrusive. The Treasury, in particular, wields disproportionate power, restricting ministers and departments from meaningful reform. Historically, many governments have considered breaking up or reining in the Treasury to improve efficiency, but entrenched interests and bureaucratic inertia resist change.

There’s a perception that political class often prioritizes short-term populism—promising “a plan for every stage of your life”—rather than tackling deeper structural problems. Examples include unnecessary regulations and overextended public services, which drain resources and hinder economic dynamism.