DAN HODGES: This was Kemi's best speech yet. She exploited glaring gaps in Labour policy, drew a crystal-clear line between the Tories and Reform - and delivered the most powerful anti-racism speech ever heard from a British party leader

Last year, when it looked as if the Tories were set to be overwhelmed by a collapse in their support and a polling surge towards Reform UK, Kemi Badenoch and her aides convened for a meeting.