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 Sign up here for Stephen Bush's morning newsletter Inside Politics for straight-talking insight into the stories that matter, plus puns and tongue (mostly) in cheek. Get 30 days free. Our email address is [email protected] 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 Hosted on Acast. See acast.com/privacy for more information.