Reeves’ £30bn treasure hunt
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.

Avsnitt(580)

Angela’s ambitions

Angela’s ambitions

Angela Rayner heaped scorn on Sir Keir Starmer’s administration this week, fuelling fresh scrutiny of her ambitions. Does she want to return to cabinet or seize the reins? The former deputy prime mini...

20 Mars 40min

Mandelson mess and Middle East U-turns

Mandelson mess and Middle East U-turns

It has been a week of red faces for party leaders. On Thursday, Keir Starmer apologised and took personal responsibility for the appointment of Peter Mandelson as UK ambassador to the US – after a fir...

13 Mars 36min

Iran shock for Starmer

Iran shock for Starmer

A week into the Iran war and Sir Keir Starmer is scrambling to defend the UK’s position on the conflict. Criticised by Donald Trump over blocking the US from using British military bases to launch ini...

6 Mars 35min

Green grief for Starmer: by-election special

Green grief for Starmer: by-election special

The Gorton and Denton by-election was supposedly a three-horse race, but on polling day the Green Party stormed to victory by a vast margin. It was a devastating defeat for Labour, which was pushed in...

27 Feb 31min

Farage against the machine

Farage against the machine

Reform UK leader Nigel Farage unveiled his ‘shadow cabinet’ at a glitzy event in London this week, with a newly bespectacled Robert Jenrick announced as ‘shadow chancellor’. The event was a hit with R...

20 Feb 36min

Mandarin mayhem

Mandarin mayhem

After another torrid week for the prime minister, the focus has shifted from No 10 to Whitehall as the UK’s top civil servant is shown the door. Cabinet secretary Sir Chris Wormald had been in the job...

13 Feb 31min

Mandelson, money - and the risk to the prime minister

Mandelson, money - and the risk to the prime minister

Fresh revelations about Peter Mandelson’s relationship with the convicted sex offender Jeffrey Epstein have sparked a political explosion in Westminster, reopening questions about Keir Starmer’s decis...

6 Feb 34min

Chinese whispers — at home and abroad

Chinese whispers — at home and abroad

Sir Keir Starmer is 5,000 miles away in China, meeting President Xi Jinping to drum up investment and deepen relations, but back on the home front the PM’s leadership looks increasingly beset. Manches...

30 Jan 36min

Populärt inom Politik & nyheter

aftonbladet-krim
svenska-fall
p3-krim
rss-krimstad
fordomspodden
spar
flashback-forever
rss-sanning-konsekvens
rss-expressen-dok
aftonbladet-daily
motiv
rss-vad-fan-hande
rss-aftonbladet-krim
blenda-2
dagens-eko
rss-frandfors-horna
olyckan-inifran
grans
krimmagasinet
politiken