"The Last Time" is a song by Taylor Swift featuring Gary Lightbody, taken from Swift's fourth studio album, Red (2012). She wrote the track with Lightbody and its producer Jacknife Lee. A power ballad, the song sees Swift's and Lightbody's characters expressing their perspectives on a failed relationship, torn between heartbreak and forgiveness. The production combines folk, alternative rock, pop, and stadium rock over dramatic string instruments and an orchestral background in the refrain. "The Last Time" was released in the United Kingdom on November 4, 2013, as a final single from Red. Critics praised "The Last Time" for its production and Lightbody's performance, but some felt that Lightbody's and Swift's vocals do not complement each other. Retrospectively, they considered it one of Swift's weakest songs in her discography. Commercially, the song reached the top 30 in Scotland, on the Irish Singles Chart and the UK Singles Chart. A re-recorded version, "The Last Time (Taylor's Version)", was included on Swift's re-recorded album Red (Taylor's Version), released on November 12, 2021.