Pain is inevitable for Rachel Reeves

A year ago, the Chancellor called her £38 billion tax rise a ‘one-and-done’ move. Now she looks set to rinse and repeat, with reports that a 2p increase in income tax is on the table. According to The Times, she has informed the Office for Budget Responsibility that a rise in personal taxation is one of the ‘major measures’ she will announce. This is the strongest signal yet that she will break Labour's manifesto pledge not to increase income tax rates. What does this mean for the Chancellor, and taxpayers?Elsewhere, David Lammy suffered a disastrous Deputy Prime Minister's Questions after dodging questions on whether there had been another prisoner let out by mistake. To discuss all the different headaches Labour is facing, Michael Simmons is joined by Tim Shipman and James Heale. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

With three weeks until the Budget, the main political parties have been setting out their economic thinking. Each faces the same bind: anaemic growth, fiscal constraints and uncomfortable exposure to the bond markets. The upshot is that there is less ‘clear blue water’ on the economy between Labour, the Conservatives and Reform.This has left a space for energy to emerge as the policy area in which to differentiate the parties in this new era of five-party politics. The Westminster energy consensus is over – Net Zero is not as popular as it once was – and the parties are setting out their stalls. Could energy win the next election?Oscar Edmondson speaks to James Heale and Michael Simmons.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

In a crowded field, today’s could have been the most bizarre PMQs ever.From David Lammy pronouncing ‘I am the Justice Secretary’ as if it were an affirmation to be chanted in the bathroom mirror, to the wild hair on display on both benches, it surely takes the mantle of parliament at its most ridiculous – and that’s not to mention the story that another convict has escaped from prison. Has David Lammy got a grip on mistaken prison release? And – more importantly – does he have the support of his colleagues?James Heale speaks to Tim Shipman and Isabel Hardman.Produced by Oscar Edmondson.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

It is three weeks until the Budget – and Rachel Reeves wants to get her narrative out there. The Chancellor held an early morning press conference today to, in her words, ‘set out the circumstances and the principles’ guiding her thinking on 26 November.Her speech followed a familiar pattern. First, there was the evisceration of the ‘austerity’, ‘reckless borrowing’ and ‘stop go of public investment’ which characterised the last 14 years. In her 25-minute speech in Downing Street, one line in particular stood out: ‘If we are to build the future of Britain together’, Reeves said, ‘we will all have to contribute to that effort. Each of us must do our bit.’Crucially, she refused to rule out breaking her manifesto pledge not to raise income tax, national insurance or VAT. Megan McElroy discusses the groundwork she's laying for the budget with James Heale and Michael Simmons. See the graph Michael refers to here: https://data.spectator.co.uk/pollsBecome a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

With Reform leading in the polls, Nigel Farage is determined to ensure that nothing can impede its growth. This morning he sought to bolster his credibility on an area that the Tories think could be his Achilles heel: the economy.Reform’s £90 billion programme of tax cuts promised at the last election has been constantly used as a stick with which to beat its leader. So today, Farage took to the stage in the City, to – once again – formally bury ‘Our Contract with You’ – the platform on which he was elected in July last year. This morning’s speech was all about Reform claiming the mantle of fiscal conservatism and claiming that the party can be trusted with the nation’s savings. Who will win the battle to be the party of fiscal credibility? Michael Simmons speaks to James Heale and James Nation, former deputy head of the Prime Minister's policy unit and Treasury special adviser to Rishi Sunak. Produced by Oscar Edmondson and Megan McElroy. Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

Introducing The Spectator's newest podcast, Reality Check with economics editor Michael Simmons. Like what you hear? Search 'Reality Check' wherever you are listening to this podcast and be sure to hit 'follow' to never miss an episode.Are the rich fleeing Britain? That's what the numbers suggest, but some activist groups have hit back that the data is dodgy. For the second episode of Reality Check The Spectator's economics editor Michael Simmons explains why the data shows that the wealthy are leaving Britain, and why this matters for everyone else.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

‘On the day of the local elections, when the Tories suffered a historic setback, Kemi Badenoch went to the gym and got her hair done,’ Tim Shipman reveals in the magazine this week. Aides insist that Badenoch has since ‘upped her game’. Her PMQs performances are improving and the CCHQ machine seems to have whirred into gear, making sure that Labour’s embarrassments – from Angela Rayner’s flat to the collapsed China scandal – don’t go unpunished. Is she finally turning the ship around after a year in the job? Michael Gove and Tim Shipman discuss.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

Happy All Hallows’ Eve, everyone – and there is something spooky going on with Rachel Reeves and a property in Dulwich. Yesterday she was leading the news after admitting to renting out her family home following the move into No. 11 without getting the required licence from Southwark Council. There are a number of mitigating circumstances – not least the fact that the lettings agent said they would obtain the licence – but the Prime Minister has been forced to put out a statement. He backs her, for now, but will he come to regret that? Listen for a rare defence of Rachel Reeves on this podcast from our economics editor.Not to be outdone, the Palace have helpfully moved the news agenda along by taking the decision to strip Andrew Mountbatten Windsor – as he is now called – of his titles. Who is behind the decision: the King, or the future King?Oscar Edmondson speaks to Tim Shipman and Michael Simmons.Produced by Oscar Edmondson.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

There are a few sore heads at 22 Old Queen Street this morning because it was The Spectator’s Parliamentarian of the Year Awards last night.From Lucy Powell’s jibe at Morgan McSweeney (and Tim Shipman, for that matter) to Robert Jenrick’s jokes falling flat, it was an eventful evening of good-natured hazing, naval-gazing and – of course – recognising the best and worst of Westminster. Who came out on top?Oscar Edmondson debriefs with Tim Shipman, Michael Simmons and Natasha Feroze.Produced by Oscar Edmondson and Megan McElroy.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.

Kemi Badenoch continues to look more confident at PMQs – although there are always going to be some easy goals when you lead on the economy. Today she pressed the Prime Minister on Labour’s manifesto pledge not to raise income tax, VAT or national insurance – which he dodged – as well as repeating her offer to work with Labour towards a cross-party solution to the welfare problem. What do we know about the Budget at the end of next month? And are we any closer to understanding what a ‘working person’ actually is? Lucy Dunn speaks to Tim Shipman and Michael Simmons.Produced by Oscar Edmondson.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: [email protected] Hosted on Acast. See acast.com/privacy for more information.