Budget 2025: What’s the best and worst that could happen for Labour?

The ink on the Budget headlines was barely dry when along came another political fuss about a partial u-turn on expanding workers’ rights. For some in the party, the timing was incomprehensible – one senior figure told me, exasperated: “in terms of managing your party, why do it this week? You’d calmed everybody down, bond yields happy, Labour backbenchers happy, then you throw it all up in the air again!”