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Hello, welcome to Coffee House Shocks, Expectators' Daily Politics podcast.

I'm Katie Balls, and I'm joined by James Fussign and Kate Andrews, and we've just heard from the Chancellor who has unveiled his budget and for the spending review. Kate, to begin with, you've written on Coffee House about the various news ads that struck you the most. Can you give us a quick run through?

Sure.

Well, the rabbit out of the hat was the change to the universal credit taper.

It's been reduced by 8%. So it means that once you hit that work allowance,

rather than losing 63% of every pound that you weren't after that,

you're losing 55%.

It's still quite high, but it's a meaningful difference.

It means that your average person will be keeping 8p extra from whatever they're earning.

And the Chancellor said in his speech that he estimates that a family of four, two parents, two kids, one working full-time, one working part-time,

could be looking at saving up to, or having in their pocket up to close to 2,000 pounds extra a year.

So really quite meaningful difference. And I would say that think tanks, academics from the

left and the right have been calling for a change to this. You know, it is a stealth work tax and

it's a tax on those who are most financially vulnerable and at the lowest end of the income

spectrum. So it's good to see movement there. It sounds like we're all going to be going to the pub more because the chancellor

has brought in this draft relief, which is going to cut the price of certain draft beers by

5%. And it's estimated to take 3P off of every pint that's pulled for you. And this is his way of

basically saying, here are the Brexit dividends, or at least here's one, we're going to change the way that we taxed alcohol in this

country, which we couldn't do when we were in the EU. We're going to simplify it and we're going

...