Austerity redux? Spring Statement lookahead

Austerity redux? Spring Statement lookahead

Author: Financial Times March 21, 2025 Duration: 44:44

It’s crunch time for chancellor Rachel Reeves next Wednesday, when she will present her Spring Statement to parliament. Downgraded growth forecasts and deep spending cuts to unprotected departments loom. Host Lucy Fisher is joined by regulars Miranda Green, Jim Pickard, and the FT’s economics editor Sam Fleming to debate whether Labour is ushering in a new era of austerity. Plus, FT Brussels bureau chief Henry Foy joins the panel to discuss Europe’s mounting security crisis and how it’s affecting the UK’s reset with the EU.


Follow Lucy on Bluesky or X: @lucyfisher.bsky.social, @LOS_Fisher, Jim Pickard @pickardje.bsky.social @PickardJE, Miranda Green @greenmirandahere.bsky.social, Henry Foy @HenryJFoy, @henryjfoy.ft.com, Sam Fleming @Sam1Fleming


Have a question for our panel? Drop us a line at politicalfix@ft.com. Record a voice note with your name and question, and email it to us. 


Want more? Free links: 


What will be in Rachel Reeves’ Spring Statement? 

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EU to exclude US, UK and Turkey from €150bn rearmament fund

Europe is only half awake from its long sleep 


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Presented by Lucy Fisher. Produced by Lulu Smyth. The executive producer is Manuela Saragosa. Original music and mix by Breen Turner. The FT’s head of audio is Cheryl Brumley. 


Read a transcript of this episode on FT.com


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Every Friday, the team behind Political Fix gathers to make sense of the week's political turbulence. This isn't just a recap of headlines; it's a deep, often lively conversation that pulls back the curtain on how decisions are really made in Westminster and beyond. You'll hear from the Financial Times journalists who are actually there, in the corridors and committee rooms, paired with expert voices who provide crucial context. Together, they untangle complex policy debates, analyse the shifting alliances, and question the strategies defining Britain's future. The result is a clear-eyed, authoritative look at the forces shaping the nation, delivered with the FT's signature rigor and insight. Tuning into this podcast feels like gaining access to a private briefing, one that prioritizes substance over noise. It’s for anyone who wants to move past the soundbites and understand the real stories and personalities driving the political agenda. New episodes arrive weekly, offering a consistent and essential perspective on a landscape that never stops moving.
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