A 'painful' Budget awaits this autumn and things will get 'worse before they get better', Sir Keir Starmer warned this week. But is Labour taking a risk projecting such a gloomy outlook? Political Fix host Lucy Fisher is joined by regulars Stephen Bush and Robert Shrimsley, as well as FT economics editor Sam Fleming, to consider how the new government might fund the fiscal black hole it claims the Tories left behind – and find a message of hope. Plus, the group analyses who’s ahead and who’s falling back in the Tory leadership race.

Follow Lucy on X: @LOS_Fisher, Stephen @stephenkb, Robert @robertshrimsley, Sam @Sam1Fleming

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Presented by Lucy Fisher. Produced by Tamara Kormornick with Leah Quinn. The executive producer is Manuela Saragosa. Sound engineering by Jean-Mark Eck with original music by Breen Turner. Broadcast engineering by Andrew Georgiades and Rod Fitzgerald. The FT’s head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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