Ahead of the UK general election, Robert Shrimsley, chief political commentator, interviews Rachel Reeves, the shadow chancellor, and John McTernan, a former senior aide to the last Labour prime minister Tony Blair.

This is an edited extract of the conversation at the FTWeekend Festival on September 2 2023. It began with a protest at Labour's decision to rule out a wealth tax if it comes to power next year.
To watch the whole interview and all other festival sessions, register for video on demand at ft.com/festival

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