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Hello and welcome to coffeehouse shots.

I'm James Heel and I'm joined today by Katie Bulls and Kate Andrews. Now Katie

Katie it's Monday morning what can we expect to see when the Chancellor stands up

on Wednesday afternoon to deliver their long-awaited budget? So I think what's interesting is if we rewind the clock back to the beginning of the year,

the spring budget was seen as a potentially game-changing moment for the Tory party. There's always

skepticism one event can do something so great and you had Rissiyou

talking about a gear change, a gear shift on taxation.

You had Jeremy Hunt likening himself to Nigel Lawson,

saying he's taking inspiration there,

the tax slashing former chancellor.

You come to this weekend, Jeremy Hunt, appearing on the Sunday show where he said,

I do like Nigel Lawson, but I probably am going to be a bit more prudent Gordon Brown when it comes to Wednesday.

While of course much of this is expectation management I think does tell you something

about how hopes in CCHQ and number 11 had started off at the beginning of the year

quite high that you would have tension to give inflation coming down quite quickly, rate cuts,

which are the markets are pricing in too that which would allow them to have more headroom to do some of these things they wanted.

I think the dream would have been 2-P-off income tax to now getting to potentially throwing inheritance tax too if they could get, if they could do the basics of what they

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