Kemi Badenoch has won the Tory leadership election. She beat Robert Jenrick in a tight race, winning 53,806 votes against his 41,318. What will a Badenoch opposition look like? What are her strengths? Her weaknesses? Cindy Yu speaks to Michael Gove and Katy Balls.

The fallout from Labour's Budget continues. On the media round this morning, Darren Jones, Chief Secretary to the Treasury, admitted that it will hit working people, and the cost of government borrowing has only risen since Rachel Reeves delivered her speech to Parliament. Katy Balls, Kate Andrews and James Heale take us through the reaction from various groups, including small business owners, farmers and the markets. Is the Budget unravelling? Also on the podcast, they look ahead to tomorrow's Tory leadership result; could low turnout make a difference? Produced by Patrick Gibbons.

Kate Andrews is joined by Katy Balls and the OBR's Prof David Miles to discuss the day two reactions to Rachel Reeves's Budget. Who were the losers, and is it too early to say who the winners are? Produced by Patrick Gibbons and Cindy Yu.

Rachel Reeves has announced that taxes will rise by £40 billion in Labour’s first Budget for 14 years. The headlines include: an increase in employers’ National Insurance contributions from April to 15 per cent, raising £25 billion; that the freeze on income tax and National Insurance thresholds will not be extended past 2028; that the lower rate of capital gains tax will be raised from 10 per cent to 18 per cent, and the higher rate from 20 per cent to 24 per cent; that fuel duty will remain frozen for the next two years; and the introduction of VAT on private school fees from January. The Chancellor didn’t want to surprise anyone with this Budget. She didn’t want to shock the markets, nor did she want any accusation that she had played fast and loose with the public finances. Still, that won’t make today’s fiscal event any less memorable – or painful. Will these measures lead to any meaningful growth? Katy Balls speaks to Kate Andrews and Michael Gove. Produced by Megan McElroy and Oscar Edmondson.

Wes Streeting has been out on the airwaves this morning, giving us a better idea of what will be in the Budget when it comes to the NHS. In an attempt to resuscitate a ‘broken but not beaten’ NHS, he has announced a cash injection reported to be up to £7 billion – including £1.57 billion for new surgical hubs, scanners, and radiotherapy machines. The Health Secretary did stress, however, that this will not be enough to save the NHS from a winter crisis. How far will this money go? Oscar Edmondson speaks to James Heale and Isabel Hardman. Produced by Oscar Edmondson.

It's Budget week (finally)! How this week goes will set the tone for Labour’s first year in office. It’s fair to say that expectations are relatively low – with the Prime Minister himself warning of ‘painful decisions’ ahead. We know a lot of what will likely be included and Treasury sources are keen to play down talk of any Budget rabbits – suggesting a mix of the measures currently being discussed in the media. So what should we expect? And can Labour ride out the week unscathed? Also on the podcast, Labour have suspended the whip for Mike Amesbury, MP for Runcorn and Helsby, after he appeared to threaten a man who has been knocked onto the road in Frodsham, Cheshire. Labour look like they will be facing their first by-election. Could Reform make an unlikely gain in this Labour safe seat? James Heale speaks to Katy Balls and Kate Andrews. Produced by Oscar Edmondson.

This week, Keir Starmer has been in Samoa for a summit with delegations of the 56 nations which make up the Commonwealth. Between having to answer questions on Donald Trump and the budget, he has also been pressed on the issue of slavery reparations, with the leaders of some Caribbean countries insisting it is ‘only a matter of time’ until Britain bows to demands of handing over billions of pounds in compensation. Speaking today, Starmer addressed the issue. He said, ‘I understand the strength of feeling’ but insisted that he would be ‘looking forward, not back’. So what are the arguments for and against reparations? And why is this debate relevant now, in 2024? James Heale speaks to historian Robert Tombs. Produced by Oscar Edmondson.

Who exactly are 'working people'? The Labour party's use of this phrase during the election raised questions over who they will really be levying taxes upon. With less than a week to go until the Budget, Labour in government is still struggling to give a clear answer as to who they mean. James Heale talks to Katy Balls and Kate Andrews. Produced by Cindy Yu.

After Nigel Farage's overture to Tory councillors to 'defect', one already has. Farage has also been on manoeuvres, piling on the criticism against Labour for its volunteers campaigning for the Democrats in the US. James Heale talks to Katy Balls and Freddy Gray about the latest. Tickets are still available to join Freddy Gray and Nigel Farage on Thursday 24 October for their analysis on the US election. Get your tickets here. Produced by Cindy Yu.

Donald Trump has made the extraordinary move to file an official complaint against the British Labour party for their volunteers campaigning for the Democrats. On this episode, James Heale talks to Katy Balls and the Financial Times's Stephen Bush about what's behind the Labour tradition of sending volunteers to other democracies, and why a second Trump presidency might be the defining theme of this Labour government. Produced by Oscar Edmondson and Cindy Yu.