Political Fix31 Okt 2025

Reeves’ £30bn treasure hunt

With a month to go until the Budget, chancellor Rachel Reeves needs to find a projected £30bn to balance the books. And the forecasts are not in her favour, with the OBR’s bigger than expected productivity downgrade dealing another blow to the Treasury this week. So where will the chancellor find the money – and if Labour have no choice but to break their manifesto tax pledge, where will that leave them with the electorate?

Host George Parker is joined by associate editor and columnist Stephen Bush, chief UK commentator Robert Shrimsley and the FT’s economics editor Sam Fleming.

Follow George: @georgewparker.bsky.social, @GeorgeWParker; Stephen at @stephenkb and Robert @robertshrimsley.bsky.social

Want more?

Reeves faces £20bn hit to public finances from productivity downgrade

Keir Starmer puts Labour MPs on notice for Budget tax rises

Starmer refuses to stand by manifesto tax pledge

Letting agent admits mistake in Reeves’ rental tax row

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 George Parker 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 Petros Gioumpasis. The FT’s acting co-head of audio is Manuela Saragosa.

Clip from BBC

Read a transcript of this episode on FT.com

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

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(599)

Live special: Ten years after Brexit

Ten years ago, the UK voted in a referendum to leave the EU. Since that Brexit vote, the country has been through six prime ministers, the political landscape has splintered, relations with the EU hav...

25 Jun 57min

Can anyone challenge Andy Burnham for PM?

Can any other Labour MP amass sufficient support to challenge Andy Burnham for the top job, or is his ascent to No 10 now all but assured? Just 24 hours after Sir Keir Starmer’s resignation as prime m...

23 Jun 35min

Exit Starmer, enter Burnham

With Andy Burnham sworn in as an MP and on track to become the UK’s seventh prime minister in 10 years after Sir Keir Starmer’s resignation today, host Lucy Fisher is joined by political editor George...

22 Jun 24min

Unseating Starmer: Burnham’s next move

Andy Burnham has stormed the Makerfield by-election, clearing the pathway for him to challenge Sir Keir Starmer for the top job in Downing Street. Starmer has vowed to defend his position, but will Bu...

19 Jun 40min

Makerfield or bust: Burnham goes for broke

With a week to go until Makerfield heads to the polls in what may turn out to be the most consequential by-election in British history, host Lucy Fisher, northern England correspondent Jen Williams an...

12 Jun 45min

The Nowak murder: when tragedy meets politics

What began as a local tragedy in Southampton has quickly become a national flashpoint. Questions about policing and trust in UK institutions are dominating the debate, as party leaders compete to shap...

5 Jun 45min

Should Labour heed Tony Blair?

Tony Blair’s lengthy – and excoriating – 5,600-word essay on the future of the Labour Party and Britain has set Westminster alight this week. The former prime minister's critique has sparked a lively ...

29 Mai 38min

Game on: All eyes on Makerfield by-election

Andy Burnham running for the Makerfield by-election has become far more than a contest for a safe Labour seat. It is being seen as a proxy battle over Sir Keir Starmer’s leadership, Labour’s direction...

22 Mai 45min