This is John Baxter, a conversation with my colleague Joseph Sternberg. He's in London for the Wall Street Journal. He writes political economics.

We took time to look very carefully at what Joe's perceiving as the movement in Parliament away from Kirstehrmur, though he has an enormous majority towards another name in the Labour Party.

Or in the eventuality that the government

reorganizes falls another party entirely. The facts of the matter support Kirstearner

staying on, inertia. But, as Joe outlines here,

there's restlessness in labor,

and their enormous majority makes them even more restless.

Apparently, here's Joe to explain Kirstarmer

facing survival in his job as PM.

More tonight.

Yeah, I think that Kirstarmer probably is in trouble,

although it's an interesting question whether he personally is in trouble

or whether the problem is that the whole labor party that he leads is in trouble.

Because you're absolutely right that the big event this week is going to be that on Wednesday,

his chancellor of the exchequer equivalent of the Treasury Secretary, Rachel Reeves,

is going to be announcing the budget for the next year and indeed for the next few years,

because they always do these multi-year budget plans.

It's going to be awful.

It's going to feature huge tax increases,

including probably on working households, which is something that Labor specifically promised

they would not do when they were running for election in summer 2024. Everyone is bracing

for the fact that it's going to be bad for the economy.

...