The Chancellor will deliver the annual Mais lecture today and is expected to focus on closer alignment with the EU, AI and improving Britain's economic geography ('levelling up' in all but name). While her comments on Europe might gain the most headlines, we're more curious about what she will say over AI – given the current geopolitical context. Given the energy requirements of AI, the Iran crisis has only further exposed the holes in Britain's energy policy – can Rachel Reeves convince Ed Miliband to adapt his policies? And is this about the Chancellor's political headroom as much as the economic?

Plus: President Zelensky is in town to sign a defence pact with the UK, while Nicola Sturgeon and Humza Yusuf are expected to give their final speeches in the Scottish Parliament before standing down as MSPs. Tim Shipman and Michael Simmons join Patrick Gibbons to reflect on their legacies.

Produced by Patrick Gibbons.

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