Labour is promising voters not to raise a raft of taxes, not to borrow to fund day-to-day spending and not to return to austerity with major cuts to public services. How will it manage this? Shadow chancellor Rachel Reeves insists economic growth will square the circle. The FT’s Whitehall editor Lucy Fisher asks economics editor Sam Fleming, who interviewed Reeves this week, whether her plans to increase UK output stack up. Plus, Helen Miller from the Institute for Fiscal Studies think-tank joins with her assessment of the “conspiracy of silence” by both big parties over tax and spend after the election.

Follow Lucy on X: @LOS_Fisher, Sam @Sam1Fleming, Helen @TheIFS

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Presented by Lucy Fisher. Produced by Audrey Tinline with Leah Quinn. Manuela Saragosa is the executive producer. Original music and audio 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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