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Hello and welcome to Coffee House Shots, the spectators' daily politics podcast.

I'm Cindy you and I'm joined by James Asaith. So it's a day after the spring statement has

been released by Rishi Sunak and it looks like, well, it may have had a tough landing.

Here's a selection of some of the front pages. The Guardian says it's the cost of living surges

and Sunak squeezes poorest. The Daily Express says the forgot a million say what about us

and the telegraph calls it the biggest fall in living standards on record.

Now James, is this the kind of landing that Rishi Sunak would have hoped for?

I don't mean it's what these are not from front pages that the treasury would have been dreaming of

but I think there is a certain inevitability that when you have your budget responsibility

including but this is the biggest fall to living standards on record and you've got inflation

heading to a 40-year high politics is going to get very scratchy and I think if you think about

governments normally have four ways of funding things. One is to borrow more and until relatively

recently, borrowing more looked like the simplest solution to almost every problem. There was a

sense that interest rates were low and lots of people believed that they were structurally low

but they weren't ever going to go up and their inflation. The years of QE after the financial

crisis didn't appear to have prompted the spike inflation that many people predicted,

created a real confidence that again we were in a kind of structural era of low inflation

and that has changed and the government is going to spend 80 or billion on servicing the debt

going into 2023. That's four times what it was meant this year and the rate at which it is rising

...