Political Fix Budget, boats and a by-election
Oct 24, 2025
Join Jim Pickard, Deputy Political Editor at the Financial Times; Robert Shrimsley, UK chief political commentator; and Jennifer Williams, Northern England correspondent, as they unpack the week's political highlights. They'll discuss how falling inflation offers a reprieve for Chancellor Rachel Reeves, Labour's struggles after a shocking by-election loss in Caerphilly, and chaotic failures within the Home Office. Plus, hear their take on fresh revelations regarding Prince Andrew's ties and the ongoing grooming gangs inquiry.
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Budget Breathing Room From Lower Inflation
- Softer inflation and lower borrowing costs give Rachel Reeves a small but meaningful budget tailwind.
- These improvements reduce borrowing costs by an estimated £2-3bn but don’t remove the need to raise tens of billions.
Odd Drivers Of Inflation Changes
- Lower inflation can be driven by unexpected categories, such as an 8% fall in live music prices.
- Targeting secondary ticket sales could be a policy lever to curb inflationary pressures in the budget.
Summit's Value Was Connections, Not Headlines
- The regional investment summit produced smaller-scale deals than last year's London event but highlighted public financing options.
- The summit helped connect institutional investors and devolved leaders to encourage regional projects.