The chancellor unveiled a £55bn plan for fiscal tightening this week, with the biggest drop in living standards for 70 years. We unpack all of the fiscal forecasts, tax rises, spending cuts and how Rishi Sunak can navigate the tricky politics. Plus, we also examine whether Hunt has shot Labour’s fox and what alternatives the party might put forward.

Presented by Sebastian Payne, with George Parker, Chris Giles, Jim Pickard and special guest Carys Roberts of the IPPR think-tank. Produced by Anna Dedhar and Howie Shannon. The sound engineers were Breen Turner and Jan Sigsworth.

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