Turmoil in the bond markets has caused turbulence for Rachel Reeves this month, with grumbles about her performance – and that of the UK economy – growing louder. This week, Political Fix asks who’s in charge: the chancellor or the financial markets? Host Lucy Fisher is joined by regular panellists Robert Shrimsley and Stephen Bush, plus the FT’s markets columnist Katie Martin, to consider the difficult choices facing Reeves and any positive options available to her in the short term. Plus, the gang discuss the keynote speeches of Conservative leader Kemi Badenoch and Liberal Democrat leader Sir Ed Davey to kick off the new year this week.

Follow Lucy on Bluesky or X: @lucyfisher.bsky.social, @LOS_Fisher, Stephen @stephenkb, @stephenkb.bsky.social, Robert @robertshrimsley, @robertshrimsley.bsky.social, Katie @katie0martin.bsky.social

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UK government seeks to soothe bond market nerves after borrowing costs soar 

UK needs more than AI to escape its economic hole

Lib Dems chart a distinctive pro-European course

Kemi Badenoch’s ‘small state’ vision does not stack up

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Presented by Lucy Fisher. Produced by Lulu Smyth. The executive producer is Manuela Saragosa. Original music by Breen Turner and mixed by Simon Panayi. The FT’s head of audio is Cheryl Brumley. 

Read a transcript of this episode on FT.com

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