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Hello and welcome to Coffee House Shots, the spectators' daily politics podcast.

I'm Max Jeffrey and I'm joined by Katie Bulls and James Forsyth.

The reports today that the government is looking to close a £50 billion fiscal black hole.

That will be £40 million plus, hopefully £10 billion surplus.

James, you're right about the government's approach to economics in your timescon today.

Can you tell us what this says?

So, I mean the point here is important, which is normally chances try and construct.

They don't try and just meet the targets that they can say that they've got that

falling into the sensitive GDP by the end of the forecast period.

But you're trying to say to the markets, we have some wiggle room, some headroom,

because they know that there is an unpleasant tendency for unexpected events to come along

and derail things and so if you're hitting the target exactly,

there's a very large chance that you miss and I mean especially given what happened

with the mini budget, there is a premium one demonstrating credibility here.

I mean it is a reminder that even though the markets appear to have calmed and that there is

this what Simon French calls this dullness dividend coming in, there's still the decisions

at the government facing are deeply unpalatable and I think at the moment there is an element

to which the government is saying we're going to take difficult decisions and everyone says,

oh, how refreshing a government that says it's going to take difficult decisions.

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