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Head to octopusevo.com to get.T. Politics, a weekly podcast on British politics from the Financial Times.

I'm Sebastian Payne and in this episode we'll be discussing the climax of the Labour leadership

contest and what lies ahead for the party plus what George Osborne might do next.

I'm delighted to be joined by George Parker, the

FT's political editor, Robert Trimsley the Manging Enter of FT.com, Jim Picard

our chief political correspondent and John Mc Turner and who is a former Labour advisor to Tony Blair turned

pundit. Thank you all for joining. So on to this week's big story which the

Labour leadership contest and it's finally over for this time. The result is due to be announced at Saturday lunchtime and unless the polls and bookmakers are drastically wrong it has happened before then Jeremy Corbyn will romp home to victory once again.

His challenger Owen Smith ran a lackluster campaign

and did not do much to dent Mr. Corbyn's support. But the conversation has already moved on

to what happens next and how Mr. Corbynbin is going to capitalize on his victory?

So Jim Picard at this stage we're recording just before the result comes out.

It doesn't look like there's any doubt that Jeremy isn't going to win and win big. How significant is that for the

party on the Cusp of its conference this year? It's an absolute historic moment. We

thought last year was a historic moment, but there was still this lingering sense

that it could be a temporary blip or an aberration

and that the normality would resume normality being the kind of new labor sense of a party that was

...