The Story Will the budget fallout bring down Keir Starmer?
Dec 2, 2025
Oliver Wright, Policy Editor at The Times, breaks down the swirling controversy following the recent budget announcement. He discusses accusations against Chancellor Rachel Reeves regarding misleading public finances and the fallout from the resignation of the OBR chair. Wright analyzes the impact on Keir Starmer's leadership, as his planned messaging on child poverty was overshadowed. The episode also covers political ramifications, potential leadership challenges, and the significance of income tax decisions. Insightful revelations about the OBR's role add to the captivating analysis.
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OBR Shifted Focus From Policy To Process
- The OBR publicly said the Chancellor created a misleading narrative about a budget "black hole."
- That intervention shifted attention from policy details to questions of honesty and process.
Budget Narrative Hijacked By Process Row
- Keir Starmer planned to use the budget to reset Labour's story on poverty and cost of living.
- The OBR row hijacked that narrative and forced focus onto process and honesty.
Leaked Forecasts Created False Doom
- Leaks and a doom-laden pre-budget speech created expectations of a large fiscal shortfall.
- Later OBR disclosures showed forecasts hadn't changed, exposing a political narrative gap.