Prime Minister Sir Keir Starmer had wanted to kick off the new year with a strong domestic start, tackling the cost of living crisis head on, in the hopes of improving his dire poll ratings. Instead, he has found himself firefighting on the international front, trying to navigate Donald Trump’s foreign policy frenzy.

How will Starmer manage his ‘special relationship’ with the US president in light of recent events? Where do Trump’s latest actions leave Nato, especially with regard to Ukraine? And what does all this global uncertainty mean for the Labour leader’s agenda at home?

Host George Parker discusses the balancing act facing the government with the FT’s deputy opinion editor Miranda Green, chief political commentator Robert Shrimsley and acting Whitehall correspondent David Sheppard.

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Political Fix was presented by George Parker, and produced by Lulu Smyth and Julia Webster. Flo Phillips is the executive producer. Sound engineering by Simon Panayi. Manuela Saragosa is the FT’s acting co-head of audio.

What did you think of this episode? Let us know at politicalfix@ft.com

Clip from UK Parliament

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Imagine a graph with one line going up over time. Below it, another line does just the opposite. It kind of looks like the letter K. On the FT's Swamp Notes podcast, Claire Jones and Rob Armstrong break down why people are saying that letter represents the state of the economy and what it means for the White House.

Mentioned in this podcast:

Does the K-shaped economy theory even make sense?

Email Marc with your questions (Marc.Filippino@FT.com)

Sign up for the FT’s Swamp Notes newsletter here

This is a repeat of an episode published on Swamp Notes, a sister podcast of Political Fix, on Nov. 28, 2025. Follow the Swamp Notes podcast to hear more.

Swamp Notes is hosted by Marc Filippino, and produced by Henry Larson. This week’s show was mixed by Sam Giovinco. The FT’s acting co- head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.

The FT does not use generative AI to voice its podcasts.

CREDIT: Bloomberg, PBS, CNN

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Can you name all the Labour frontbenchers who resigned or were sacked during the past year? Why was Peter Mandelson delayed from returning to the UK after being sacked as US ambassador? And who will be crowned Political Fix’s Wonk-in-Chief? Find out as host George Parker puts the entire podcast panel - Miranda Green, Stephen Bush, Robert Shrimsley, Jim Pickard and Anna Gross - through their paces in this big, fat, fiendishly difficult end-of-year quiz. The panellists also highlight their most memorable moment of 2025 and unveil their wildest predictions for the year ahead. Plus, discover who scooped all the chocolate coins in the studio to win the annual Political Fix stockpicks portfolio prize.

Political Fix has been nominated for a People’s Choice Award at the Political Podcast Awards. Vote for us here.

Follow the panel on Bluesky - George @georgewparker.bsky.social; Miranda @greenmirandahere.bsky.social; Jim @pickardje.bsky.social; Robert @robertshrimsley.bsky.social and Stephen @stephenkb.bsky.social

Political Fix is presented by George Parker, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa. Our video engineers are Bianca Wakeman and Andrew Georgiades.

What did you think of this episode and Political Fix this year? Let us know at politicalfix@ft.com

Read a transcript of this episode on FT.com

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