Two weeks on from Rachel Reeves’ first budget, the headlines have moved on — but the politics definitely hasn’t. In this episode of Political Business, Kevin and Nathan unpack the shifting dynamics inside Labour and the Conservatives as both parties prepare for a turbulent 2026 election cycle.

We break down:

🔴 Labour’s internal anxiety despite a “successful” budget

🔴 Why Treasury insiders think the politics of the budget are done

🔴 Angela Rayner’s dramatic return to the Commons — and what it really means

🔴 The truth behind the “non-existent” Labour leadership contest

🔴 Starmer’s strategy to scare MPs out of triggering a contest

🔵 Kemi Badenoch’s resurgence and improving Tory morale

🔵 Why Reform UK may have plateaued — and whether Farage’s controversies help or hurt

🟡 Why 2026 will be shaped by a new era of five-party politics

We also look ahead to the May local elections, where both parties fear major losses — and both sides believe the real leadership battles begin.

If you work in business, policy, or politics, this is your weekly guide to what’s really happening in Westminster.

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