Kemi Badenoch bets the house on the economy

Kemi Badenoch's attack on Reform UK was all about character and her attack on Labour was all about economics. In her speech at the Conservative Party conference in Birmingham, she said she would to scrap inheritance tax on family homes and that under a Conservative government, couples would be able to leave an extra £1m inheritance tax free to their children.

Badenoch was withering about Nigel Farage and Reform UK, saying: "The circus goes on and on and it will never stop because this is who Reform are — so to those who say ‘unite the right’, we are not uniting with that.”

We look at the Conservatives' electoral strategy, their prospects — especially compared with a year ago — and the vibes among their MPs.

Steven Swinford, political editor, The Times

Ben Riley-Smith, political editor, The Sunday Times

Lara Spirit, deputy political editor, The Sunday Times

Patrick Maguire, chief political commentator, The Times

Producers: Euan Dawtrey, Harry Kitson

Executive producer: Molly Guinness

Picture: Getty Images

00:00 - Live from Tory Conference: Badenoch’s Speech Analysis

00:41 - The Inheritance Tax Gamble: Family Homes Exempt

02:01 - Strategic Shift: Winning Back the South & Abandoning the Red Wall

05:14 - Why Immigration Was Dropped From the Main Message

06:33 - "We Will Not Unite": Direct Rejection of Reform UK & Farage

08:03 - Character vs. Policy: The New Strategy Against Reform

10:45 - Key Omissions: Public Services and the NHS

13:17 - Football Legends, Identity, and Patriotism

17:36 - Vibe Check: A Surprisingly United Tory Party

20:19 - Badenoch’s Dominance: "Captain, Manager, and Owner"

22:13 - Path to Power: Rebuilding Economic Trust

25:08 - Behind the Scenes: Bars, Protesters, and Business Access

29:34 - Did Badenoch’s Speech Set the Political Weather?

32:50 - Looking Ahead to the Budget

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