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Hello and welcome to start your week from the bunker.

News Without the Nonsense, every weekday morning.

I'm Ros Taylor and joining me as Gavin Esler.

Good morning, Gavin.

Good morning, Rose.

You'll have read all the damning verdicts of Stama's first year.

Very bad, says Nick Robinson at the BBC,

misjudged the tone, Beth Rigby of Sky News. What's your verdict? Well, it's not been great,

has it? But of course, my journalist, colleagues and friends, you just think about things a little bit more about the first year. The first term of a new prime minister,

the first year, is quite often very difficult. They don't always hit the ground running,

and I think he's obviously trying to feel his way into the job. And I think they will be very

grateful for the recess, which begins on the 22nd of July, and they don't come back in Parliament

until the 1st of September to perhaps begin to get

their act together and come back with some fresh ideas. But the real problem is there isn't any

money. And the question is, how do you actually solve that problem? And perhaps one of the few people

who's come out of it quite well in the past week, it seems to me, is Rachel Reeves, actually.

Certainly the bond market seems to think highly of her Reeves, actually. Certainly, the bond market seems to think highly

of her. Well, speaking of tax, the new statesman's cover last week shouted, just raise tax. Will they

raise tax in the autumn? I think they probably will. I don't think there's much choice. I mean,

...