In this week's show, we examine whether Gordon Brown has returned from the political dead after Labour's surprise victory in the Glenrothes byelection. But we also ask whether the prime minister's recovery will last as it becomes clear that the economic downturn will be deep. This prompted the Bank of England to cut interest rates this week by 1.5% to 3%.
Finally, we discuss Barack Obama's victory in the US presidential election – and what that means for Britain's "special relationship" with the US.
Joining me around the table is Guardian columnist Polly Toynbee, who believes Labour ran a good campaign in Glenrothes, showing that Brown is back in control.
Will Woodward, the Guardian's head of politics, is also on the panel. He says the prime minister has a spring in his step because his "personality is meeting the moment".
We are joined from Glenrothes by Severin Carrell, the Guardian's Scotland correspondent. And from across the Atlantic we hear from Ewen Macaskill, the Guardian's Washington bureau chief, who says Obama's victory will lead to a major change because the US will once again want to co-operate with its allies.
Finally Simon Hoggart, the Guardian's parliamentary sketchwriter, describes the scenes in the House of Commons at prime minister's questions which was dominated by the US election result.
Have a listen and post your comments below.
