Good morning and welcome to Cheat Sheet, the podcast where we do the work so you don't have to.

I'm Wilfred Frost.

And I'm Sophie Ridge. It is Thursday the 27th of November and this is what's happening today.

We will be unpigging the Chancellor's historic budget.

Was it one to satisfy Labour MPs rather than you?

The man's been arrested over the shooting of two National Guard members in Washington, D.C., close to the White House.

And Prince George and Princess Charlotte have a new favourite sitcom.

So, budget, an awful lot's happened.

26 billion pounds of tax rises.

And also there have been some pretty difficult forecasts of weaker economic growth as well.

And look, the tax rises is really where people will keep coming back to you.

Because the Chancellor has admitted, she's asking ordinary people to pay a bit more.

But she says taxes on working people have been kept as low as possible. I mean, there's two main kind of tax rises

going on here. The first is the freeze in the thresholds, which means more and more people are

going to be dragged into paying a higher rate of tax, right? That's going to be a big earner for the Chancellor and

a big squeeze on working people. And I think the second one that is really interesting as well

is the pension changes that I know that you want to talk about as well, Wilf, right? So it's an

awful lot going on here. And do you think with both of those, she's escaped the political

costs that she would have paid if she'd done income tax, for example? I mean, the question,

I think on the politics, I think it's fair to say is, will people punish her and labour still

for putting up taxes? So the more I've been thinking about this, because yesterday was a mad date, right, and we were all kind of trying to digest it, particularly with the fact that the OBR accidentally published the whole thing before she didn't even have a chance to say it as well. By the way, I was annoyed that wasn't like a sort of cheat sheet exclusive. I feel like that leak should be on cheat sheet. Next time, guys, please.

It was mad. Just to say what happened as well, like the first, because I was broadcasting on air when it all happened, the first we realized was this kind of Reuters snap saying that the OBR had given these growth forecasts. I was like, this is weird. Like, this is a bit leaky from the OBR.

...