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Hello and welcome to Coffey House shots, the Spectators, sometimes more than daily

politics podcast. I'm Oscar Edmonton and I'm joined by Katie Balls and Kate Andrews.

So the Chancellor has today been providing some covering fire for a raft of

pretty unpopular policies including changes to the Winterfield Allowance and cancellations

to various building projects. She gave a pretty damning statement in the

Commons earlier this afternoon on the economic situation that Labour have

inherited from the Tories and we can hear a clip here. It means Mr Speaker that we

have inherited a projected overspend of 22 billion pounds a

22 billion pound hole in the public finances now not in the future but now

22 billion pounds of spending this year

that was covered up by the party opposite.

If left unaddressed, it would mean a 25% increase in the budget deficit this year.

So I will today set out the necessary and urgent work that I have already done to reduce that

pressure on the public finances by 5.5 billion pounds this year and over 8 billion pounds next year.

Kate can you take us through some of the kind of top line announcements today?

So we were expecting some spending cuts and Rachel Reef certainly delivered.

She scrapped through a Wanda scheme.

There's going to be a review of rail projects which she says is currently in a deficit of a billion pounds.

...