Hello and welcome to this special live edition of the FT's weekly UK politics podcast, Political Fix.

I'm Lucy Fisher, host of the podcast and Whitehall editor here at the Financial Times.

As we are meeting today, it is of course the five-month anniversary of Labour taking power,

and it's been quite a whirlwind as the party has tried to

get to grips with government after 14 years in opposition. We've had a big tax and spend

budget and investment summit. We've had infighting and backbiting in the heart of number 10,

an overhaul of personnel, and of course rafts of policy. And as we meet today, the Prime Minister has just set out his plan for change,

a new set of targets for his government ahead of the next election.

So there is plenty to get our teeth into in the next 45 minutes.

And I'm delighted that we've got a terrific panel of political fix regulars lined up.

Stephen Bush, Associate Editor, Miranda Green, Deputy Opinion Editor, and Pete Foster, Public Policy Editor here at the FT.

Welcome to you all. Thank you.

To kick off, Miranda, let's talk about this big, don't call it a reset moment that Kirstama has done today.

Downing Street don't want to call it a reset or a relaunch,

but people think this is an attempt to try and turn the page

on what's been quite a tumultuous first five months.

Tell us a bit about this big moment we've just heard.

So in their defence, in rejecting the label reset,

this has been coming for a while and a very key figure

in the Starmer government is in charge of it. Pat McFadden, a veteran of the Downing Street years under

Tony Blair and someone who understands, as a close ally also of Morgan McSweeney, the political brains

behind Starma's election win, that the

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