What kind of economy did Labour inherit this summer, and how does Britain measure up to international comparators? Political Fix host Lucy Fisher sits down with Martin Wolf to examine the strengths and weaknesses inherent in the UK’s economy as Rachel Reeves prepares for her seismic first Budget on October 30. Wolf assesses the options facing the chancellor on tax, spending and debt.

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Keir Starmer vows to rip up bureaucracy to unleash ‘shock and awe’ of investment

Rachel Reeves’s Budget must rescue Britain from its growth trap

Reeves struggles to escape from self-imposed restraints

Rachel Reeves needs a credible growth plan

You too can step into the chancellor’s shoes and find out if you can run the UK economy with the FT’s new Budget game. Go to ft.com/chancellor-game and play from Tuesday, October 15

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Presented by Lucy Fisher. The executive producer is Manuela Saragosa. Audio mix and original music 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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