Political Fix

Labour’s long-awaited spending review dropped this week. Rachel Reeves unveiled funding settlements for government departments – and a newly upbeat tone after the gloomy promise of hard times in her previous Commons set pieces. The NHS and defence were prioritised but other departments and services face a squeeze. Are dividing lines now clear as Labour fights for a second term in power? Why did even the experts call Reeves’ speech “baffling”? Will voters notice any benefit – and in time for an electoral dividend? Host Miranda Green is joined by regular panellists Stephen Bush and Jim Pickard, as well as the FT’s economics commentator Chris Giles, to discuss. Follow Miranda @greenmirandahere.bsky.social, Jim @pickardje.bsky.social, Stephen @stephenkb.bsky.social‬, @stephenkb; Chris @chrisgiles.ft.com‬, @ChrisGiles_What did you think of this episode? Let us know at politicalfix@ft.com  Want more? Free links:    Rachel Reeves will be forced to raise taxes in autumn, economists predict Only a crisis will wean the west off debt England’s social housing funds ‘less generous’ than £39bn settlement suggestsUK suffers worst monthly contraction since 2023Labour has made its big play. Are you not convinced? Sign up here for 30 days free of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. And here’s Chris Giles’ latest newsletter. Presented by Miranda Green, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this podcast on FT.com

UK chancellor Rachel Reeves has had an action-packed week. She made a U-turn on winter fuel payments, announced plans to spend billions of pounds on new transport schemes and, following the prime minister’s latest announcement, she now has to find yet more money to fund a rise in defence spending. So where does this leave the chancellor ahead of the spending review next Wednesday? And who will be the winners and losers? Host George Parker is joined by the FT’s Robert Shrimsley, Sam Fleming and Jennifer Williams to discuss. Follow George on Bluesky or X: @georgewparker.bsky.social, @GeorgeWParker; Sam Fleming @Sam1Fleming, Robert @robertshrimsley, @robertshrimsley.bsky.social, Jennifer Williams @jenwilliamsft, @jenwilliamsft.bsky.social What did you think of this episode? Let us know at politicalfix@ft.com  Want more? Free links:   ‘Accept it or you have to walk’: Labour’s UK spending review battles enter final stage  Rachel Reeves to back Manchester-Liverpool rail link in transport spending boost Reeves can no longer outrun Labour’s early choices   Rachel Reeves vows to reinstate some winter fuel payments this year Reform UK chair Zia Yusuf resigns from party Sign up here for 30 days free of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. Presented by George Parker, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The broadcast engineer is Rod Fitzgerald. The FT’s acting co-head of audio is Manuela Saragosa. Read a transcript of this podcast on FT.com

In a special six-part series of The Economics Show, Martin Wolf, the FT’s chief economics commentator, and Nobel Prize-winning economist Paul Krugman discuss the economic events reshaping the world in the wake of US President Donald Trump’s election. Subscribe and listen to this series on The Economics Show on Apple Podcasts, Spotify, Pocket Casts or wherever you listen to podcasts. Episodes will also be available on the FT’s YouTube channel.If you’d like to get in touch and ask Martin and Paul a question, please email economics.show@ft.com Read Martin’s FT column hereSubscribe to Paul’s substack here

Prime Minister Keir Starmer and Reform party leader Nigel Farage clashed on economic issues this week. Farage said his party was the champion of the working class, while Starmer warned Farage’s proposed spending rises amounted to “fantasy promises”. Host George Parker is joined by the FT’s Stephen Bush, Chris Giles and Anna Gross to discuss Reform’s fiscal plans. Plus, Labour’s chancellor Rachel Reeves has plenty of fiscal problems of her own. The panel discusses whether or not her economic arithmetic is adding up. Follow George on Bluesky or X: @georgewparker.bsky.social, @GeorgeWParker; Stephen @stephenkb.bsky.social‬, @stephenkb; Chris @chrisgiles.ft.com‬, @ChrisGiles_; Anna @annasophiegross.bsky.social‬, @AnnaSophieGrossWhat did you think of this episode? Let us know at politicalfix@ft.com  Want more? Free links: Do Reform UK’s tax and spending plans add up?British politics is choice between Labour and Reform, says StarmerWill Rachel Reeves bend her fiscal rules to help balance the books?IMF gives Rachel Reeves political cover to ‘refine’ UK fiscal rulesClips from ITV News on YouTube; Reform UK on YouTubeSign up here for 30 free days of Stephen Bush's Inside Politics newsletter, winner of best newsletter at the Future of Media Awards, 2023 and 2024Presented by George Parker, and produced by Ethan Plotkin. Original music and mix by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com

The UK and EU announced a historic deal to ‘reset’ their relationship this week. Keir Starmer called the deal a “win-win”, while a “gobsmacked” Kemi Badenoch labelled it a “surrender”. Who’s right? Host George Parker is joined by the FT’s Miranda Green, Peter Foster and Andrew Bounds who unpack the agreement and analyse who came out on top. Plus, the prime minister has handed over the Chagos Islands to Mauritius, and it didn't come cheap. The panel discusses Starmer's negotiations on the world stage and how they are playing out for him, and his opponents, at home.Follow George on Bluesky or X: @georgewparker.bsky.social, @GeorgeWParker; Miranda @greenmirandahere.bsky.social, Peter @pmdfoster @pmdfoster.bsky.social, Andrew @andybounds.bsky.social, @AndyBounds What did you think of this episode? Let us know at politicalfix@ft.com  Want more? Free links:   UK and EU agree post-Brexit reset at showpiece summit UK-EU post-Brexit reset: the key pointsBritain will be negotiating with Europe foreverUK to pay £101mn a year to hand over Chagos Islands to Mauritius Sign up here for 30 days free of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. Presented by George Parker, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com

It’s been another turbulent week for Labour after Keir Starmer announced a crackdown on legal migration. The prime minister gave what has since become a controversial speech suggesting the UK is at risk of becoming an “island of strangers” – and home secretary Yvette Cooper announced an end to all social care visas, tighter rules for highly skilled visas, more rigorous English language tests, and more. Host Lucy Fisher is joined by the FT’s Robert Shrimsley and Jim Pickard to dissect the policies, as well as the reaction to Starmer’s speech and where Labour’s position leaves the Tories on immigration. Plus, the panel delves into the Downing Street briefing about a whole host of new prison reforms set to drop next week.Follow Lucy on Bluesky or X: @lucyfisher.bsky.social, @LOS_Fisher; Jim @pickardje.bsky.social; Robert @robertshrimsley, @robertshrimsley.bsky.socialWhat did you think of this episode? Let us know at politicalfix@ft.com  Want more? Free links:   Starmer rejects Enoch Powell parallel after ‘island of strangers’ speech Democracy’s downward spiral leaves Starmer no leeway on immigrationLiz Truss regime’s ‘moron premium’ still looms over UK economyBadenoch pivots to economy in bid to fend off Reform threatSome prisoners in England who breach release terms face short jail sentencesSign up here for 30 days free of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. Presented by Lucy Fisher, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa. Read a transcript of this episode on FT.com

Our first Q&A special episode is finally here! You sent in questions, now our panel answers them. Is the UK-US trade deal worth the paper it’s signed on? Could the UK benefit from a brain drain from the US? Is there any chance of Keir Starmer being booted out by his party before the next election? Host Lucy Fisher is joined by the FT’s Stephen Bush, Miranda Green and Robert Shrimsley to discuss a range of topics spanning politics, policy and foreign affairs. Plus, the team peels back the curtain on how we calculate our weekly stock picks. Follow Lucy on Bluesky or X: @lucyfisher.bsky.social, @LOS_Fisher; Miranda @greenmirandahere.bsky.social, Stephen @stephenkb, @stephenkb.bsky.social, Robert @robertshrimsley, @robertshrimsley.bsky.socialWhat did you think of this episode? Email us at politicalfix@ft.com.Want more? Free links:   Britain’s trade deal with Trump may not be good news for the worldWin for UK cars will not cushion the probable blow to taxpayersYvette Cooper’s shadow looms UK trade ambitionsIn tough times, good policy becomes even more important Sign up here for 30 days free of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. Presented by Lucy Fisher, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa. Read a transcript of this episode on FT.com

This week, we’ve seen Reform UK trounce Labour and the Conservatives across England in local elections. Nigel Farage’s party has secured a fifth MP, clinched two mayorships and seized control of at least seven councils.In response, Prime Minister Sir Keir Starmer is vowing to go harder and faster with his reforms, while Kemi Badenoch’s leadership of the Conservative party is coming under scrutiny.Host Lucy Fisher is joined by podcast regulars George Parker, Robert Shrimsley and Stephen Bush to dissect what the results mean for the government, the opposition and traditional two-party politics in the UK.Have a question for our panel? Drop us a line at politicalfix@ft.com. Record a voice note with your name and question, and email it to us. Follow Lucy on Bluesky or X: @lucyfisher.bsky.social, @LOS_Fisher; Robert @robertshrimsley.bsky.social, @robertshrimsley,Stephen Bush @stephenkb.bsky.social, @stephenkb and George Parker @GeorgeWParker @georgewparker.bskyb.socialWant more? Free links:   Reform UK sweeps English councils in local election routNigel Farage shakes British politics with election surgeMulti-party politics heightens danger for muddled LabourReform wins first UK council in local election surgePlus: The final State of Britain newsletter from Political Fix regular Pete Foster reflecting on his five or more years as the FT’s public policy editor, covering Brexit and its impact on UK government and business. Post-Brexit UK: stuck between an unreliable US and a mercantilist EUSign up here for 30 days free of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. Presented by Lucy Fisher. Produced by Clare Williamson. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s head of audio is Cheryl Brumley. Read a transcript of this episode on FT.com

Ahead of England’s local elections next week, the Political Fix team pick the races to watch and what’s at stake for the main parties, as voters head to the polls to elect 1,600-odd councillors, six mayors and one new MP. Host Lucy Fisher is joined by podcast regulars Miranda Green and Anna Gross, plus the FT’s Northern correspondent Jennifer Williams, to ask whether Reform UK will live up to high expectations, and just how far both Labour and the Tories could fall. They also examine Sir Keir Starmer’s pivot to patriotism and projection of a nostalgic vision of England, as he attempts to see off the threat from Nigel Farage. Have a question for our panel? Drop us a line at politicalfix@ft.com. Record a voice note with your name and question, and email it to us. Follow Lucy on Bluesky or X: @lucyfisher.bsky.social, @LOS_Fisher; Anna annasophiegross.bsky.social @AnnaSophieGross, Miranda @greenmirandahere.bsky.social, and Jennifer @JenWilliams_FT @jenwilliamsft.bsky.socialWant more? Free links:   What to watch in the 2025 local elections Starmer plays up patriotic credentials as local elections loom Reform UK heads offshore to raise funds from world’s wealthy  Unite divided: British trade union grapples with twin scandals  Sign up here for 30 days free of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. Presented by Lucy Fisher. Produced by Lulu Smyth, with help from Georgina Quach. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s head of audio is Cheryl Brumley. Read a transcript of this episode on FT.com