Political Fix

The economist John Kenneth Galbraith once quipped that “there can be few fields of human endeavour in which history counts for so little as in the world of finance.” This show sets out to prove the opposite. Each week, FT columnist Gillian Tett and FT Alphaville editor Robin Wigglesworth dig into the ideas, personalities and institutions that have shaped global finance. From unregulated banking in 19th-century frontier America to institutionalised debt jubilees in ancient Mesopotamia, and from the birth of credit derivatives to the great market meltdowns of the past, Robin and Gillian uncover the story of money because time and again, the same manias and mistakes resurface. Tune in and you might just understand where the next financial opportunities and disasters could be hiding. Subscribe to The Story of Money wherever you get your podcasts and watch the show on YouTube. Learn more about the show at ft.com/tsom and find out more about Gillian Tett here and Robin Wigglesworth here. Follow FT Alphaville here. Hosts: Gillian Tett and Robin Wigglesworth Producer: Lulu Smyth Senior Producer: Michela Tindera Executive Producers: Flo Phillips and Manuela Saragosa Original music and sound engineering: Breen Turner Podcast Development: Laura Clarke Global Head of Audio: Cheryl Brumley

It’s not just the Trump administration attacking the UK’s defence capabilities. Now a Labour grandee and former head of Nato, Lord George Robertson, has accused Sir Keir Starmer of ‘corrosive complacency’ over delays to defence spending. With the 10-year plan for defence stuck in deadlock, host Lucy Fisher discusses the choices faced by the PM with chief political commentator Robert Shrimsley, deputy political editor Jim Pickard and political columnist and writer of the Inside Politics newsletter, Stephen Bush. Plus, they look ahead to country-wide elections in less than three weeks and hear about the developing story around the vetting of Lord Mandelson.NOTE: This episode was recorded on Thursday April 16.Follow Lucy: @LOS_Fisher and @lucyfisher.ft.com; Stephen: @stephenkb and @stephenkb.bsky.social; Jim: @PickardJE and @pickardje.bsky.social and Robert: @robertshrimsley and @robertshrimsley.bsky.socialWant more?  Starmer accused of ‘corrosive complacency’ on UK defence by former Nato chiefUK defence ministry left to foot £200mn bill for Ukraine missionRebuke by former Nato chief points to wider government inactionKeir Starmer plans May relaunch with King’s Speech The great independence charadeForeign Office top civil servant forced out over Mandelson vetting fiascoNo scenario in latest Mandelson drama makes Keir Starmer look goodSign up here for Stephen’s morning newsletter Inside Politics for straight-talking insight into the stories that matter, plus puns and tongue (mostly) in cheek views. Get 30 days free.Plus, send in your questions for a special Political Fix Q&A episode on May 11th. Email: politicalfix@ft.comPolitical Fix is presented by Lucy Fisher and produced by Clare Williamson. The executive producers are Manuela Saragosa and Edwin Lane. Audio mix and original music by Breen Turner. The FT’s head of audio is Cheryl Brumley.Read a transcript of this episode on FT.com

Sir Keir Starmer had promised 2026 would be the year the UK economy and household finances would finally “turn the corner”. But the Iran war has nixed those hopes. Now the pressure from unions to increase public sector pay is mounting, and resident doctors are continuing their rolling strikes. Student finance remains another open sore despite the announcement of a cap on loan interest rates. To discuss the pressures on the public purse, host Lucy Fisher is joined by political editor George Parker, columnist Stephen Bush and public policy editor Chris Smyth. Plus, with local elections just weeks away, the panel also discusses the prime minister’s trip to the Middle East.  Follow: Lucy on X: @LOS_Fisher and Bluesky: @lucyfisher.ft.com; George @GeorgeWParker and @georgewparker.bsky.social; Stephen @stephenkb and @stephenkb.bsky.social and Chris @Smyth_Chris and @chris-smyth.bsky.socialWant more?Starmer leans into his Iran response to resonate with votersUnions prepare for UK public sector pay push as inflation bites UK health officials discuss banning doctors from going on strikeWhat happens when the Green Party governs?Capping student loan interest rates is a step in the right directionNHS data chief pushes for deeper rollout of Palantir technology despite outcryCan the Iran war save Keir Starmer’s premiership?UK exposes covert Russian submarine operationThe political power struggle behind the Bayeux TapestryHave a question for the panel? We’re planning a question-and-answer episode. Email your questions to politicalfix@ft.comSign up here for Stephen’s morning newsletter Inside Politics for straight-talking insight into the stories that matter, plus puns and tongue (mostly) in cheek views. Get 30 days free.Political Fix is presented by Lucy Fisher and produced by Clare Williamson. The executive producer is Manuela Saragosa. Audio mix by Sean McGarrity. Original music by Breen Turner. The FT’s head of audio is Cheryl Brumley.Read a transcript of this episode on FT.com

Donald Trump has heaped insults on Sir Keir Starmer in recent weeks over his stance on the Iran war. The US president labelled the UK prime minister “no Winston Churchill”, said Britain’s aircraft carriers were mere “toys” and told Britain to “go get your own oil” from the Gulf. So perhaps it’s unsurprising that the PM appears to be pivoting heavily towards the EU. Host Lucy Fisher unpicks the shift with colleagues Jim Pickard, Anna Gross and Robert Shrimsley. They also discuss how the Middle East conflict will play out in the upcoming local elections.Have a question for the panel? We’re planning a question and answer episode. Email your questions to politicalfix@ft.comFollow Lucy on X: @LOS_Fisher, and Bluesky: @lucyfisher.ft.com; Robert: @robertshrimsley and @robertshrimsley.bsky.social; Jim @PickardJE and @pickardje.bsky.social and Anna @AnnaSophieGross & @annasophiegross.bsky.socialWant more? Keir Starmer signals major UK pivot towards EU after Donald Trump’s tauntsLessons from history on how to survive a fuel crisisCracks appear in US-UK security co-operation after Trump-Starmer tensionsStarmer strikes upbeat note amid dismal polling ahead of May 7 local electionsPolitical drama reaches heart of UK’s nuclear deterrentHammering Farage-Trump links could suppress Reform’s poll leadSign 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. Get 30 days free.Presented by Lucy Fisher. Produced by Clare Williamson. Manuela Saragosa is the executive producer. Original music by Breen Turner, mix by Sean McGarrity. The broadcast engineers were Andrew Giorgiades and Petros Gioumpasis. Cheryl Brumley is the FT’s global head of Audio.Read a transcript of this episode on FT.com

Sir Keir Starmer’s authority is slipping and Westminster is alive with speculation about potential successors. But chief political commentator Robert Shrimsley joins host Lucy Fisher, alongside deputy opinion editor Miranda Green and public policy editor Chris Smyth, to argue why he believes Labour may be better off sticking with Starmer. The panel also discuss the government’s plans to ban political donations in cryptocurrency and cap overseas donations at £100,000 a year. What does it mean for Reform UK, which has been a major beneficiary of overseas donors and crypto donations? Have a question for the panel? We’re planning a question and answer episode. Email your questions to politicalfix@ft.comFollow Lucy on X: @LOS_Fisher, and Bluesky: @lucyfisher.ft.com; Robert: @robertshrimsley and @robertshrimsley.bsky.social;Miranda @greenmiranda and @greenmirandahere.bsky.social; & Chris @Smyth_Chris and @chris-smyth.bsky.socialWant more? The case for keeping Keir Starmer a little longerStarmer set to make Sadiq Khan a Lord Overseas donations to UK parties to be capped at £100,000 Companies face having to declare individuals behind UK political donations Net zero is not a zero-sum game 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. Get 30 days free.Presented by Lucy Fisher. Produced by Nisha Patel. Manuela Saragosa is the executive producer. Original music and sound engineering by Breen Turner. The broadcast engineer was Bianca Wakeman and Petros Gioumpasis. Cheryl Brumley is the FT’s global head of audio.Read a transcript of this episode on FT.com

Introducing Opus Dei, a new season of Untold from the Financial Times. Host Antonia Cundy uncovers the cultural and political influence of a controversial Catholic organisation in America. Opus Dei exists to help people get closer to God, but some members say they found other agendas – and unexpected harm – entangled in that spiritual mission. The first episode of Untold: Opus Dei launches March 25. Listen on Apple Podcasts, Spotify, Pocket Casts or wherever you get your podcasts.

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 minister issued a stark warning that the government is running out of time to change direction under Starmer, while also attempting to court the City. At the same time, the Greens continue to beat Labour in the polls with an unabashedly socialist platform.Does all this signal the government will shift left?Host Lucy Fisher is joined by the FT’s political editor George Parker, political correspondent Anna Gross, and Inside Politics columnist Stephen Bush to unpack what it all means. Plus FT US national editor Ed Luce shares insights on how he caught up with Donald Trump on his mobile this week.Follow: Lucy on X: @LOS_Fisher, and Bluesky: @lucyfisher.ft.com George: @GeorgeWParker and @georgewparker.bsky.social; Stephen: @stephenkb and @stephenkb.bsky.social and Anna: @AnnaSophieGross and @annasophiegross.bsky.socialWant more? Is the Green Party too radical for Britain?Labour’s leftward shift and the bond vigilante threatBritish right must not allow prejudice to be masked as principleStarmer calls on Badenoch to sack shadow minister over Muslim prayer comments Donald Trump warns Nato faces ‘very bad future’ if allies fail to help US in Iran 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. Get 30 days free.Presented by Lucy Fisher. Produced by Clare Williamson. The executive producer is Flo Phillips. Audio mix and original music by Breen Turner. The FT’s head of audio is Cheryl Brumley. Our email address is politicalfix@ft.comClip: BBCRead a transcript of this episode on FT.com

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 first round of document disclosures suggested the prime minister was largely absent from the decision-making process. Meanwhile, Nigel Farage and Kemi Badenoch were both busy executing awkward U-turns on their earlier vocal support for a US war on Iran that is proving distinctly unpopular with UK voters. Host Lucy Fisher is joined by the FT’s deputy political editor Jim Pickard, columnist and writer of the ‘Inside Politics’ newsletter Stephen Bush, and political editor George Parker to debate the twists and turns of the week in Westminster.Clip from: The MirrorFollow Lucy on X: @LOS_Fisher, and Bluesky: @lucyfisher.ft.com; Jim: @PickardJE and @pickardje.bsky.social; Stephen: @stephenkb and @stephenkb.bsky.social; and George: @GeorgeWParker and @georgewparker.bsky.socialWant more?  Mandelson papers: what do they show?Pressure grows on Starmer over Mandelson due diligenceEmbarrassing Iran U-turn for the right, but Keir Starmer’s problems are worseThe irrepressible Nigel FarageSign up to 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 at https://www.ft.com/InsidePoliticsOfferPolitical FIx is presented by Lucy Fisher and produced by Laurence Knight. The executive producer is Flo Phillips. Audio mix by Breen Turner. The FT’s head of audio is Cheryl Brumley. Our email address is politicalfix@ft.comRead a transcript of this episode on FT.com