To tax, but who to tax, that is the question
Political Fix7 Marras 2025

To tax, but who to tax, that is the question

With just three weeks to go until the Budget, Rachel Reeves gave a surprise speech to reset expectations on who she’s planning to hit with more taxes on November 26. This has fuelled further speculation about whether the government's central manifesto pledge to not raise income tax rates is now doomed.


Host Miranda Green is joined by FT colleagues Jim Pickard, Sam Fleming and Katie Martin to discuss the chancellor’s options: a pick’n’mix of tax rises or breaking a central pledge to the electorate. What then happens to the Labour government’s credibility, and how are the markets likely to react? Plus: can Reform become fiscally respectable?


Follow Miranda @greenmirandahere.bsky.social; Jim @pickardje.bsky.social; and Katie @katie0martin.ft.com


Want more?


What are Rachel Reeves’ tax options in the Budget?


Bond markets are winning the Budget stand-off


Robert Shrimsley: The inescapable logic of Labour’s choices


Inside Politics: Why Rachel Reeves won’t raise income tax


Paywalled: End of The Line: how Saudi Arabia’s Neom dream unravelled


Sign up here for Stephen Bush's morning newsletter Inside Politics for straight-talking insight into the stories that matter, plus puns and tongue (mostly) in cheek analysis. Get 30 days free.


Plus, the FT is hosting a live webinar on November 28 on what the UK Budget will mean for your money. You can put questions to FT journalists Claer Barrett, Stuart Kirk, Tej Parikh and special guest, tax expert Dan Neidle. Get your free pass now at ft.com/budgetwebinar.


Our email address is politicalfix@ft.com


Political Fix was presented by Miranda Green and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The video engineers are Bianca Wakeman and Andrew Georgiades. The FT’s acting co-head of audio is Manuela Saragosa.


Clip from ITV


Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Jaksot(573)

Trump and Reform: Is US-style populism set to sweep the UK?

Trump and Reform: Is US-style populism set to sweep the UK?

Donald Trump has stunned the world with a raft of extraordinary interventions this week, prompting Keir Starmer to keep his head down. But what happens when it’s Britain’s turn in the new US administr...

7 Helmi 202543min

Growth – and damn the consequences?

Growth – and damn the consequences?

Chancellor Rachel Reeves has sought to place rocket-boosters under the UK economy this week – with a vow to prioritise growth over the environment or nimbyism. But how long will her plan take to work,...

31 Tammi 202539min

Trump turbulence: How should Labour play it?

Trump turbulence: How should Labour play it?

Donald Trump returned to the White House this week, with a host of radical plans that threaten to heavily affect the UK – spanning tariffs, the Ukraine war, energy and climate policy. How should the B...

24 Tammi 202538min

Reeves vs the markets

Reeves vs the markets

Turmoil in the bond markets has caused turbulence for Rachel Reeves this month, with grumbles about her performance – and that of the UK economy – growing louder. This week, Political Fix asks who’s i...

17 Tammi 202543min

Musk and the new political playbook

Musk and the new political playbook

Elon Musk’s hostility towards the UK government, and Sir Keir Starmer in particular, continues to escalate – prompting concerns he’s been radicalised by his own algorithm. What’s driving the technolog...

10 Tammi 202542min

2025: Labour’s year of pain?

2025: Labour’s year of pain?

After a rocky start in office for Labour, the next 12 months will prove pivotal for the UK government. Sir Keir Starmer must grapple with dismal popularity ratings, tough public finances, anaemic grow...

3 Tammi 202544min

Quizmas special: Political Fix’s nerd out!

Quizmas special: Political Fix’s nerd out!

Who threatened to launch an aquatic assault on the Dutch town of Leiden? And which political candidate pledged to force water bosses to take a dip in British rivers? Find out as host Lucy Fisher puts ...

19 Joulu 202440min

Farage: more popular than the PM

Farage: more popular than the PM

Reform UK is now beating Labour in one pollster’s survey, while party leader Nigel Farage is Ladbrokes’ favourite to succeed Keir Starmer as the next prime minister. This week Political Fix examines w...

13 Joulu 202435min

Suosittua kategoriassa Politiikka ja uutiset

aikalisa
rss-ootsa-kuullut-tasta
tervo-halme
ootsa-kuullut-tasta-2
politiikan-puskaradio
viisupodi
et-sa-noin-voi-sanoo-esittaa
otetaan-yhdet
rss-vaalirankkurit-podcast
rss-asiastudio
rss-podme-livebox
the-ulkopolitist
rss-kaikki-uusiksi
rss-tekkipodi
io-techin-tekniikkapodcast
rikosmyytit
rss-mina-ukkola
rss-fingo-podcast
rss-hyvaa-huomenta-bryssel
rss-kuka-mina-olen