Budget blues

With borrowing costs and inflation rising, are the UK’s finances worse than Burnham and Healey thought? Host Lucy Fisher is joined by FT colleagues George Parker, political editor, and Stephen Bush, columnist, to discuss the tightening fiscal outlook ahead of the October Budget, and whether scrapping the triple lock on pensions would cost the government more politically than it would save in cash terms.

Plus, Reform’s week of mega-donations — and the Labour government’s response, and the leaders of Scotland, Wales and Northern Ireland begin a new push for independence from the UK.

Follow Lucy: @LOS_Fisher; George: @georgewparker.bsky.social, @GeorgeWParker; Stephen @stephenkb

Want more?

Britain, Burnham and tax: the walls close in

Healey prepares UK for ‘really challenging’ budget

Nigel Farage refuses to say if Reform UK’s £72mn gifts would comply with new cap

UK state pension will surpass income tax threshold next year

Bank of England says rates likely to rise as it overhauls gilts sales

It’s time to scrap the triple lock

Scrapping triple lock on pensions need not wreak political damage

A ‘lucky’ chancellor must also be a resolute one

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Presented by Lucy Fisher. Produced by Persis Love. The executive producer is Manuela Saragosa. Audio mix and original music by Breen Turner. Broadcast engineers are Andrew Georgiades and Petros Gioumpasis. The FT’s head of audio is Flo Phillips.

Read a transcript of this episode on FT.com

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