Facing down a fiscal firestorm

UK chancellor Rachel Reeves has had an action-packed week. She made a U-turn on winter fuel payments, announced plans to spend billions of pounds on new transport schemes and, following the prime minister’s latest announcement, she now has to find yet more money to fund a rise in defence spending. So where does this leave the chancellor ahead of the spending review next Wednesday? And who will be the winners and losers? Host George Parker is joined by the FT’s Robert Shrimsley, Sam Fleming and Jennifer Williams to discuss. Follow George on Bluesky or X: @georgewparker.bsky.social, @GeorgeWParker; Sam Fleming @Sam1Fleming, Robert @robertshrimsley, @robertshrimsley.bsky.social, Jennifer Williams @jenwilliamsft, @jenwilliamsft.bsky.social What did you think of this episode? Let us know at [email protected]  Want more? Free links:   ‘Accept it or you have to walk’: Labour’s UK spending review battles enter final stage  Rachel Reeves to back Manchester-Liverpool rail link in transport spending boost Reeves can no longer outrun Labour’s early choices   Rachel Reeves vows to reinstate some winter fuel payments this year Reform UK chair Zia Yusuf resigns from party Sign up here for 30 days free of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. Presented by George Parker, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The broadcast engineer is Rod Fitzgerald. The FT’s acting co-head of audio is Manuela Saragosa. Read a transcript of this podcast on FT.com Hosted on Acast. See acast.com/privacy for more information.