Norman Smith
Assistant political editor

Image source, AP

The race to be the Democrat candidate at next year's US election is coming down to a battle between a centrist establishment candidate and a veteran left-wing insurgent (sound familiar?)

Hillary Clinton clashed with Bernie Saunders in a TV debate last night - with the testiest exchanges between the two coming over gun law reform. 

When asked if the Vermont senator was strong on gun control, Mrs Clinton  said "no, not at all" before vowing to go after the makers of guns used in shootings.

Mr Sanders also attacked Mrs Clinton, saying her support for a no-fly zone in Syria would create "serious problems".

Read more. 

Image source, AFP/Getty Images

Ever eager to help the Labour leadership, Chancellor George Osborne is urging "moderate" Labour MPs to vote against Jeremy Corbyn and John McDonnell to support his proposal to prevent future governments from running a deficit in "normal" times.

This plan is seen as a trap by the Labour leadership, that would neuter future Labour governments - preventing them from borrowing money to fund public spending increases.

Shadow chancellor John McDonnell surprised many by saying he would support Mr Osborne's plan but then said Labour would no longer support it - hence the U-turn headlines.

The shadow chancellor said he would propose his own charter, but Mr Osborne said Labour MPs should vote with the government.

At the very least, Labour MPs should abstain in the vote, the chancellor added.

Read more.

Today Programme
BBC Radio 4

Earlier on Today one of Labour's economic advisers said he would have told John McDonnell to oppose the government's fiscal charter from the start - had the shadow chancellor asked.

Danny Blanchflower described Labour's policy-making process as "messy" and said there were "clearly political things going on" when Mr McDonnell initially committed the party to back the charter.

But he said Labour had now reached the right decision and dismissed the chancellor's proposal as a "silly stunt".

Mr Blanchflower - a former member of the Bank of England's monetary policy committee - warned a second economic shock was on the way and called for "large amounts of investment" in preparation, rather than austerity.

"Playing silly stunts and making up rules no one is going to obey is not the right thing to do," he told the Today programme.

Image source, PA

Uniquely, in the democratic world, Britain's political leaders have to face a baying mob of their opponents every week, as they debate questions on every conceivable issue. They all hate it. They all fear it. But even those like Tony Blair and David Cameron, who have questioned the point of having to take part in a weekly pantomime, or Punch and Judy show, admit that it serves a purpose. It keeps them honest. Rightly or wrongly, the half-hour session at mid-day on a Wednesday, when the Commons is sitting, is seen as a test of a leader's ability to lead. As Leader of the Opposition, Jeremy Corbyn will get six questions to the prime minister in which to make his mark.  

On his first appearance he decided to ask questions submitted by Labour Party members or supporters. He's asked for questions again? Here's how his first appearance at PMQs as Labour leader went....

BBC Newsnight

Today Programme
BBC Radio 4

David Gauke says "we have got to use those better years to bring our debt down to ensure there's a buffer" for when the next shock comes along. But what about those years when there's "anaemic growth", he is asked - doesn't the charter mean that there would have to be savage cuts or tax increases? He answers by saying the charter has flexibility so it does not include years when there is an economic shock or the years of recovery afterwards - as long as there's a plan to bring the economy back into surplus.

Today Programme
BBC Radio 4

David Gauke says that once Parliament has voted on the charter it means the government can be judged on whether it is delivering on it - "that's much more explicit and does impose a constraint" on governments.

Today Programme
BBC Radio 4

David Gauke, Financial Secretary to the Treasury, begins his interview by rejecting the suggestion the fiscal charter a "stunt". He says much has been done to sort out the economy but a surplus is needed to cut debt to ensure the country is in a better position to face any future shocks.

Today Programme
BBC Radio 4

Stephanie Flanders, Chief market Strategist for Britain and Europe for J.P Morgan Asset Management, and former BBC economics editor, says that including the caveat "in normal times" in the fiscal charter - and the fact there is already an independent Office for Budget Responsibility - raise questions about the purpose of the charter.

Image source, PA

Here's a guide to the Labour U-turn on the fiscal charter (which commits future governments to balancing the books each year), including a look to other possible dividing lines between new Labour leader Jeremy Corbyn and the bulk of Labour MPs.

Hello and welcome to our rolling coverage of political developments as Jeremy Corbyn makes his second appearance as Labour leader at Prime Minister's Questions - and the focus falls again on Labour's U-turn on Chancellor George Osborne's fiscal responsibility charter.