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Hello and welcome to Coffee House shots, spectators,

daily and these days more than daily politics podcast.

I'm Katie Balls and I'm joined by James Siphon at the Sper Harbin and we just had the first

television debate of the Tory leadership contest. Five candidates and we'll now name them.

Rishi Sienaak, Penny Mordant, Liz Truss, Kemi Baden, Arkham Tom Tugenhardt,

all debated on various issues and we've asked lots of questions from net zero to how they plan

to fund tax cuts. James, what struck out most to you from the 90-minute debate we just saw?

I mean it was the key exchange for us. There were no two key exchange actually. The first was

the key exchange between Rishi Sienaak and Liz Truss on Dad. And we can listen to that here.

It is, we have to be honest. We have to be honest but borrowing your way out of inflation

isn't a plan, it's a fairytale. I think it is wrong to put taxes on because that is what we're talking

about. I mean this was the clearest exposition of the differences between the candidate on this

key economic question. Rishi Sienaak's view is that the answer to borrowing cannot be

more borrowing. Liz Truss' argument is, the US borrow is less than the US, the global reserve

currency in Japan and Canada, so it can borrow more. And I think this is the fundamental difference.

Are you a fat right or a regular? And I think Liz Truss' answer ignores two things.

One is that when we're on regular slashing taxes, the poor vocals federal reserve was incredibly

hawkish. It had the US interest rate at 16-17%. That's not the case today. And secondly,

the US is a global reserve currency, so these things are less risky for the US than they are for

...