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

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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

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Chancellor Rachel Reeves received a rare bit of good news from lower inflation statistics this week, which could reduce government borrowing ahead of the November Budget. But the uphill struggle to improve Labour’s standing in the polls continues after a drubbing in Caerphilly, the embarrassing failure of the one-in-one-out migrant policy and the chaotic start to the grooming gang inquiry. Host George Parker is on hand to dissect the week along with deputy political editor Jim Pickard, UK chief political commentator Robert Shrimsley and the FT’s northern England correspondent Jennifer Williams. Plus, is the King getting poor advice from the PM over Prince Andrew in the wake of further damaging revelations about the prince’s links to Jeffrey Epstein?

Follow George on Bluesky or X: @georgewparker.bsky.social, @GeorgeWParker; Robert: @robertshrimsley or @robertshrimsley.bsky.social; Jen on X @JenWilliamsMEN and Jim on X @PickardJE

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Labour suffers seismic by-election defeat to Plaid Cymru in Caerphilly

UK borrowing costs fall in boost for Rachel Reeves

Reeves vows to clear way for BoE rate cuts with cost of living pledge

Grooming gang victims call for minister to resign

A defining crisis for Britain’s royals

Britain’s flawed support for Jaguar Land Rover

Clips from: Sky & Parliament Live TV

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.

Our email address is politicalfix@ft.com

Presented by George Parker. Produced by Clare Williamson. The executive producer is Flo Phillips. Audio mix and original music by Breen Turner. The FT’s acting head of audio is Manuela Saragosa.

Read a transcript of this episode on FT.com

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Introducing Toxic Legacy, a new season of Untold from the Financial Times. Host Laura Hughes uncovers a lead poisoning epidemic across the UK. You might be living with lead and not know it: the toxin is often invisible to the human eye, but wreaks havoc on our bodies once we’re exposed. The first episode of Untold: Toxic Legacy launches October 22.

Listen on Apple Podcasts, Spotify, Pocket Casts or wherever you get your podcasts.

For information on how to live safely with lead, please visit the LEAPP Alliance website.

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Conference season is over for another year and after a rousing speech from Conservative leader Kemi Badenoch to the party faithful, the Political Fix panel is asking: has she done enough to silence her critics and reverse the party’s slide into oblivion? And while recovering from a month on the road, your trusty Political Fixers mull over the performance of the other parties and what lies ahead as parliament reconvenes on Monday. Plus, more questions than answers about a Chinese spying case that collapsed before reaching court. Host George Parker, the FT’s political editor, is joined by UK chief political commentator Robert Shrimsley, Whitehall editor David Sheppard and deputy opinion editor Miranda Green.

Follow George on X @GeorgeWParker or Bluesky: @georgewparker.bsky.social; David @oilsheppard.bsky.social; Robert @robertshrimsley.bsky.social; Miranda on X @greenmiranda

What did you think of this episode? Let us know at politicalfix@ft.com

Want more? Free links:

The Conservatives’ long road back to credibility

Kemi Badenoch pledges to scrap stamp duty on property

Robert Jenrick says UK ministers should have power to pick judges

The battle to dismantle Blair’s Britain

Spying case collapsed after UK refused to label China a ‘threat’, prosecutors say

Sign 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. Get 30 days free at https://www.ft.com/InsidePoliticsOffer

Presented by George Parker and produced by Clare Williamson with Lulu Smyth and Flo Phillips. The executive producer is Manuela Saragosa. Audio mix Jean-Marc Eck. Original music by Breen Turner.

Read a transcript of this episode on FT.com

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

US President Donald Trump has pledged to “plant the stars and stripes on the planet Mars”, China could send its first crewed mission to Mars within a decade, and Elon Musk wants people to actually settle on Mars, transforming the human race into an interplanetary species.

In a new series of Tech Tonic, the FT’s Peggy Hollinger asks if we’re really about to land, and even live, on the red planet.

Free to read:

Musk’s mission to Mars

Three days with America’s rocket chasers

Tech Tonic is produced by Mischa Frankl-Duval. The senior producer is Edwin Lane. Flo Phillips is the executive producer. Sound design by Breen Turner and Samantha Giovinco. Original music by Metaphor Music. Manuela Saragosa is the FT’s acting co-head of audio.

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This week, the Political Fix team comes to you from Liverpool — with all the news from the annual Labour Party Conference. Sir Keir Starmer struck a patriotic tone to the Labour faithful, promising to fight Nigel Farage’s “politics of grievance” and build a renewed, healthy Britain “with the flag waving in our hands” — flags he was keen to reclaim from his opponents on the nationalist right.

And that confident tone had also been struck by his chancellor, the day before. Rachel Reeves reaffirmed the need for economic responsibility and a willingness to take tough decisions, whilst taking pot-shots at the mayor of Greater Manchester, Andy Burnham, in the wake of his thinly veiled bid for the Labour leadership last week.

The prime minister arrived in Liverpool with widespread discontent over his leadership, speculation that he could face a challenge and a calamitous -54 poll approval rating. So did Starmer do enough to salvage his floundering premiership?

Host George Parker is joined by Jim Pickard, Anna Gross and Stephen Bush to unpack what the annual conference might mean for the future of the Labour party — and the nation.

Follow George on Bluesky @georgewparker.bsky.social; Stephen @stephenkb.bsky.social; Jim @pickardje.bsky.social and Anna on X @AnnaSophieGross

What did you think of this episode? Let us know at politicalfix@ft.com

Want more? Free links:

Starmer urges Labour to launch ‘patriotic’ fight against Reform

Rachel Reeves signals Budget tax rises, saying ‘world has changed’

Reeves will struggle to sell growth case to UK fiscal watchdog, economists warn

Labour’s unpopularity problem

‘Lost the plot’: Tony Blair’s role prompts incredulity —– and some hope

Sign 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. Get 30 days free at https://www.ft.com/InsidePoliticsOffer

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.

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

As the prime minister prepares for his annual party conference, the mayor for Greater Manchester, Andy Burnham, seems to be mounting a thinly veiled bid for the Labour leadership. In numerous interviews given to the media this past week, Burnham said he had been privately urged by MPs to challenge Sir Keir Starmer. And the provocation came with what looked like a personal manifesto: tax increases on the wealthy, mass nationalisations and a promise not to be “in hock to the bond market”. So do Burnham’s economic policies stand up? Does the metro mayor pose a serious risk to the PM? Or does his pitch for the leadership actually help Starmer shore up support from within?

Host George Parker is joined by Miranda Green, Stephen Bush, and the FT’s northern correspondent Jennifer Williams, to discuss the multiple challenges Starmer is facing both inside and outside the Labour tent, as well as what else to look out for at the conference next week.

Follow George on Bluesky @georgewparker.bsky.social; Stephen @stephenkb.bsky.social; Miranda @greenmirandahere.bsky.social; Jen @jenwilliamsft.bsky.social

What did you think of this episode? Let us know at politicalfix@ft.com

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Andy Burnham launches thinly veiled bid to replace Keir Starmer

Andy Burnham’s borrowing plans would spook gilt market, investors warn

Starmer can’t afford to wait for reckless Reform to implode

Andy Burnham’s two-horse act faces a big jump

Plans for high-speed rail line in northern England suffer fresh delay

Sign 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. Get 30 days free at https://www.ft.com/InsidePoliticsOffer

If you want to know more about what's happening in UK politics you can read the FT’s live Q&A - where Stephen, Miranda and the FT’s UK chief political commentator Robert Shrimsley answered readers’ questions. Visit www.ft.com/ask-an-expert

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

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