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This was supposed to be a mini-budget, semi-skimmed, yet most of the full-fat equivalents are quickly forgotten.

This one, one way or the other other won't be. For a start,

I think we've just run out of red ink. Today we are publishing our growth plan that sets out a new

approach for this new era built around three central priorities. Reforming the supply side of the economy, maintaining a responsible

approach to public finance, and cutting taxes to boost growth. We've just seen the biggest

tax cutting budget, let's just call it a budget, for 50 years. It'll cost 45 billion pounds in tax cuts, an extra 72 billion pounds in government

borrowing and national debt in this financial year alone. If you earn a million pounds a year,

you'll receive 55,000 pounds in tax cuts. A lot of rich people just got a hell of a lot richer. It is part of

the trust medicine, her regimen to make the British economy fitter, healthier, more productive.

It's a gamble, a huge gamble on the politics, on the economics. It is a defining moment of the trust premiership, setting the tone

of all to come. It's a moment where you need to know what's happened, why, and what might happen

now. It's Lewis here. Welcome to the newsagents.

So do you remember when Conservative chancellors and Conservative Prime Ministers told us that the only thing which mattered, the only way to secure prosperity, was to balance the books?

The Conservative long-term economic plan is working.

So we will continue to be tough on the deficit.

There is no magic money tree to fund this ever more wishful borrowing and spending.

Well, you may have noticed we still have a conservative chancellor, a conservative prime minister,

but they no longer quite agree with their own predecessors. They've opened the checkbook,

and it's all on tick. Well, first things first, what do they do? It's easy to get lost in what just

happened in all the tax cuts.

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