On Monday, the new Chancellor, Rachel Reeves, stood up in front of Parliament and spoke about, what was in her view, the challenging economic inheritance left to Labour by the previous Conservative government.
She revealed a series of unfunded commitments by the previous government - a multibillion-pound in the public finances covering areas such as spending on asylum seekers and unfunded infrastructure projects.
So, what do we make of the announcements? What are the implications of the spending cuts announced? What does this statement tell us about how the Chancellor will handle economic challenges?
To answer these questions, we’re joined by Christine Farquharson and Ben Zaranko.
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